Almost All Cryptocurrency have fallen

[Marian21]

I saw today that the price dropped to almost all the cryptocurrency available on the market. does anyone know something about this topic? what to expect next days ?

[TheGodson]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

[Marian21]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

this may be the beginning of the end of cryptocurrency? because i think that other governments can take this as an example with all this repercussions...and let's be honest ... wich powerful government does not want to have full control over money?

[HeRetiK]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

this may be the beginning of the end of cryptocurrency? because i think that other governments can take this as an example with all this repercussions...and let's be honest ... wich powerful government does not want to have full control over money?

Yes. Crypto is dead. Sell everything.

In all seriousness though, I think today's move was just a long overdue correction and had nothing to do with the Chinese government's statement regarding ICOs. Let's not forget we just touched a new ATH after a few days of hesitant floating between USD 4k,- und USD 4.5k,- so naturally the market needs to cool down a bit. The alts followed suit, because that's what they usually do when Bitcoin drops.

[3kpk3]

This does not surprise me. The Chinese government have the power to influence the cryptocurrency market and that is a fact(Look at NEO). I feel sad for the people who bought a ton of altcoins right now since this is a very bad time to buy. Buying and HODling is still the best strategy though, according to me.

[Halcyon Days]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

this may be the beginning of the end of cryptocurrency? because i think that other governments can take this as an example with all this repercussions...and let's be honest ... wich powerful government does not want to have full control over money?

Yes. Crypto is dead. Sell everything.

In all seriousness though, I think today's move was just a long overdue correction and had nothing to do with the Chinese government's statement regarding ICOs. Let's not forget we just touched a new ATH after a few days of hesitant floating between USD 4k,- und USD 4.5k,- so naturally the market needs to cool down a bit. The alts followed suit, because that's what they usually do when Bitcoin drops.

This. When Bitcoin drops, all coins drop and vice versa. It has always been like this.

[Sadsong]

Thought this thread might tie into the discussion since it appears China is not as big a factor as people make out.

https://bitcointalk.org/index.php?topic=2146048.0

The Bitcoin price and value continue to rise and this week has seen Bitcoin drive past the $5000 level, a new all time high. Interesting to note that Japan leads the current 24-hour ranking.

#1 Japanese Yen – 54.54%
#2 U.S. Dollar – 26.64%
#3 Chinese Yuan – 8.23%
#4 South Korean Won – 6.11%
#5 Euro – 3.01%

In 2016, reporting showed that most of the trading was coming from China, however, since the People’s Bank of China imposed strict regulations on the crypto exchanges in the country, the percentage of traded volume using the Yuan dropped significantly. In contrast to China, the Government of Japan passed a law legalizing Bitcoin as a payment system. Bitcoin adoption in the country has rapidly escalated as the merchant, consumer, institutions have embraced this bold move.

=

Found that interesting because China always gets the first look at any reason the price is moving up or down.

[ValyLupy]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

this may be the beginning of the end of cryptocurrency? because i think that other governments can take this as an example with all this repercussions...and let's be honest ... wich powerful government does not want to have full control over money?

of course not
they understand what bitcoin it is goldmine for everyone

[Mistafreeze]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

Chinese idiots have started selling their coins because of their stupid Government

[mostavios]

This is a normal trend i believe.. Weekends always result in this drop.. yet i believe today everything is going back to normal.

[bitart]

This does not surprise me. The Chinese government have the power to influence the cryptocurrency market and that is a fact(Look at NEO). I feel sad for the people who bought a ton of altcoins right now since this is a very bad time to buy. Buying and HODling is still the best strategy though, according to me.

Chinese government has not banned all the cryptos, so it's not the reason for the fall, it's a consolidation, it is usually happens after ATHs. Chinese government also mentioned that they ban certain ICOs, but NEO will be OK for the regulation, so not to worry. Despite of this, NEO is also down with the other alts, but for the future, it could be a sign, that they prefer NEO coin before others/bitcoin.

[Irdina]

This is normal, because china banned ico, and causes bitcoin and altcoin prices to go down, but this is only temporary and will be back as soon as possible ,, if you are stuck in altcoin it is better to hold, it is better and do not take loss

[NavI_027]

This is a normal trend i believe.. Weekends always result in this drop.. yet i believe today everything is going back to normal.

I really hope everything is gonna be alright but to be honest, Chinese government did brings a big impact to cryptocurrency. I'm just starting in this world then suddenly it will crashing down, I hope it won't happen.

[illyiller]

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

This is the fundamental explanation, sure. But it's just like when news teams try to explain every rise or drop of a stock price with fundamental news. Sometimes the answers are more technical and related to supply and demand. We hit a major psychological resistance ($5000), and it's entirely possible that supply began to outweigh demand.

The FUD around the Chinese ban on ICOs may have catalyzed another leg down last night. But many technical analysts will tell you that this leg down was going to come either way.

[elbimbo012]

Bitcoin current price is still on its High (though it drops significant percentage today). It is only normal that market will react when there is negative news considering China is a big market but for me this may not take longer.  once market absorb the issue it will slowly  going back to its uptrend mark.

[figmentofmyass]

Bitcoin current price is still on its High (though it drops significant percentage today). It is only normal that market will react when there is negative news considering China is a big market but for me this may not take longer.  once market absorb the issue it will slowly  going back to its uptrend mark.

i suspect last night's lows in the $4,000s was a major bottom. it's possible we are entering another corrective phase, but i'm pretty confident that we will at least test the $4,500-4,700 area before then. We could just as easily continue the uptrend and conquer $5,000 as well.

The Chinese government banned ICOs. Naturally as a result, alt coins started dropping. People are fearful they won't be able to get their money out with the government cracking down.

For the next couple of days I think it will blow over and go back up, but only time will tell.

Chinese idiots have started selling their coins because of their stupid Government

or the market was looking for a reason to dump. when i compare the chinese and western charts, it's not totally clear to me that this was triggered by chinese investors/traders per se. it was also the expectation of a drop by western traders.

[RayvenPierre]

Well that is due to the ICO market being banned in China. But I don't think people should panic and start selling their coins. Its gonna be better to hold still first and keeo your coins and observe what will hapoen for the mean time.

[exstasie]

Well that is due to the ICO market being banned in China. But I don't think people should panic and start selling their coins. Its gonna be better to hold still first and keeo your coins and observe what will hapoen for the mean time.

I'm not sure about altcoins and tokens -- that's a whole other mess. But regarding Bitcoin, I think last night's lows will be it for a while (maybe another retest of the bottom is in order, though). It doesn't seem like this news has all that much bearing on BTC. There was some FUD about the PBOC banning BTCCNY exchange, but I think that's been cleared up and is not the case.

There could be an argument made that money coming into ICOs via BTC were pumping up the whole market, and now that the reverse might occur, that the BTC market could deflate. But it's not even the case anymore (even in Chinese markets) that BTC is required to access ICOs; ETH/fiat markets are very liquid at this point. So I don't think it's a major factor.

[Casdinyard]

This does not surprise me. The Chinese government have the power to influence the cryptocurrency market and that is a fact(Look at NEO). I feel sad for the people who bought a ton of altcoins right now since this is a very bad time to buy. Buying and HODling is still the best strategy though, according to me.

And some big whales are the Chinese people.
They banned the ICO in their country as they see it as a threat in their country and mostly of the ICO's are scam.
They warned their people about this fraud like this is a unauthorized huge fund raising.
And now the existing ICO needed to refund the money of the investors.
But I think nothing to rattle, price will be fine again this week and the price is not so bothering like we're used to this right? Don't be too affected to this and just trust our coins.

[Xenrise]

Yes i agree that all cryptocurrency are now down and at buying price right now. Try to buy as many ad you can right now. Try to buy good coins that are worth to invest.