China does it again (shorters on suicide watch)

[pereira4]

China, once again, has pulled a controlled short and made a lot of BTC from unwary panic sellers whose, for some reason, decided selling BTC because some shitcoin's ICO got banned was a good idea.

Why did so many idiots sell their cheap BTC? Who knows, but what do we know is, this has been another profitable move by China whose is building stacks of BTC from all the newbies and weak hands that just don't know how to hold.

Remember this?



The ICO ban is just the same bullshit all over again, so don't fall for their tactics or you will lose your tickets to the moon.

[pooya87]

it has never been China! it was the news of China.

it has always been the market makers in bitcoin who manipulate the market to their own advantage. the news is just the icing on the cake which makes it easier. others also know this pattern and join in. for example when you hear a bullshit news like that and you know panic is about to break out, you dump as fast as possible because "cheap coins are on the way" and make a huge profit from idiots.
again this has nothing to do with China.

the chart you marked is mostly falls in the period where Chinese didn't even have access to any exchanges! their own exchanges such as OkCoin, Huobi,... were closed down for months and they could not trade on foreign exchanges.
again proving that swings has nothing to do with Chinese, but idiots who think it is Chinese so they fear when others are silently taking their money and blaming Chinese!

[RodeoX]

I had to laugh also at people selling BTC when the "news" was specifically about alt-coins.  It will actually likely raise the value of bitcoin. Not to mention that news from China has been manipulated soooooooooo often.

Apparently a sucker is born every minute. He/she then hurries over to a crappy exchange to buy the latest alts. 

[HeRetiK]

Look at the bright side, getting rid of weak hands ensures healthier growth and helps Bitcoin in the long term. You gotta prune the tree every now and then if you want to see it grow high and tall.

Has anyone kept count how many times China "banned" or "unbanned" crypto? I kinda lost track over the years.

[pereira4]

it has never been China! it was the news of China.

it has always been the market makers in bitcoin who manipulate the market to their own advantage. the news is just the icing on the cake which makes it easier. others also know this pattern and join in. for example when you hear a bullshit news like that and you know panic is about to break out, you dump as fast as possible because "cheap coins are on the way" and make a huge profit from idiots.
again this has nothing to do with China.

the chart you marked is mostly falls in the period where Chinese didn't even have access to any exchanges! their own exchanges such as OkCoin, Huobi,... were closed down for months and they could not trade on foreign exchanges.
again proving that swings has nothing to do with Chinese, but idiots who think it is Chinese so they fear when others are silently taking their money and blaming Chinese!

The chinese didn't need to have access to said markets. Bitcoin is exposed to the entire world, what im saying is, the panic selling gets triggered by news that come from China, im not saying it's the chinese dumping.

What I don't doubt is, the government and people with insider information foresee these press releases of "PBOC to regulate exchanges", "China banning ICOs"... and so on, so they can set shorts before the news are released and then profit from the dump. This is insider trading and this has been happening since the beginning of the first market to ever get established. It's obvious that Bitcoin's market is not going to be immune to that.

[player514]

China, once again, has pulled a controlled short and made a lot of BTC from unwary panic sellers whose, for some reason, decided selling BTC because some shitcoin's ICO got banned was a good idea.

Why did so many idiots sell their cheap BTC? Who knows, but what do we know is, this has been another profitable move by China whose is building stacks of BTC from all the newbies and weak hands that just don't know how to hold.

Remember this?



The ICO ban is just the same bullshit all over again, so don't fall for their tactics or you will lose your tickets to the moon.

I'm taking the fact that you're a longtime member into consideration here.

I wouldn't be surprised if people who sold bitcoin just recently we're introduced to it and then bought it very quickly. People with large amounts and those who bought it recently we're probably freaked out by the couple hundred drop in the pricing and sold to cut losses. You have a different experience in this probably because you're a longtime member and have had Bitcoin in your possession since the early stages. The same can't be said for everyone who's in bitcoin now.

[pereira4]

China, once again, has pulled a controlled short and made a lot of BTC from unwary panic sellers whose, for some reason, decided selling BTC because some shitcoin's ICO got banned was a good idea.

Why did so many idiots sell their cheap BTC? Who knows, but what do we know is, this has been another profitable move by China whose is building stacks of BTC from all the newbies and weak hands that just don't know how to hold.

Remember this?



The ICO ban is just the same bullshit all over again, so don't fall for their tactics or you will lose your tickets to the moon.

I'm taking the fact that you're a longtime member into consideration here.

I wouldn't be surprised if people who sold bitcoin just recently we're introduced to it and then bought it very quickly. People with large amounts and those who bought it recently we're probably freaked out by the couple hundred drop in the pricing and sold to cut losses. You have a different experience in this probably because you're a longtime member and have had Bitcoin in your possession since the early stages. The same can't be said for everyone who's in bitcoin now.

I have seen this shit play out again, again, and again since I started years ago. It's always the same damn thing. Look at the price now, we are past $4600, exactly at $4667 right now at Bitstamp prices. Let's see how it crushes the last $4700 peak which is the closest one to cross now. Once we get past that, we will flirt with the last ATH resistance for a while, then we will be sitting at $5000, in no time.

Actually what's funny is, China has said now that they aren't going to ban ICO's, they will just issue licenses to launch ICO's. And the price was recovering before they said that so a ban of ICOs was priced in (for these that thing ICOs are relevant to Bitcoin which they arent)

[alyssa85]

China, once again, has pulled a controlled short and made a lot of BTC from unwary panic sellers whose, for some reason, decided selling BTC because some shitcoin's ICO got banned was a good idea.

Why did so many idiots sell their cheap BTC? Who knows, but what do we know is, this has been another profitable move by China whose is building stacks of BTC from all the newbies and weak hands that just don't know how to hold.

Well YOU may think they are idiots, but each investor makes decisions based on their own circumstances and some would have thought it was a great time to crystallise a profit. No-one ever got poor by taking profits.

Obviously this annoyed hodlers, but each person has got to do what is right for them

[LFC_Bitcoin]

Some people will never learn, weak hands always get punished. People need to be a lot stronger.

I have no idea why people would consider selling now any way, bitcoin has the potential to be a ridiculously high price in a few years. Patience will reward those with strong hands.

[oda.krell]

[...]

Well YOU may think they are idiots, but each investor makes decisions based on their own circumstances and some would have thought it was a great time to crystallise a profit. No-one ever got poor by taking profits.

Obviously this annoyed hodlers, but each person has got to do what is right for them

Arguing with the fanatic hodlers during a bull market is similar to arguing with the 'crypto is doomed' trolls during a bear market: a noble effort, maybe, but ultimately a waste of time.

[pereira4]

China, once again, has pulled a controlled short and made a lot of BTC from unwary panic sellers whose, for some reason, decided selling BTC because some shitcoin's ICO got banned was a good idea.

Why did so many idiots sell their cheap BTC? Who knows, but what do we know is, this has been another profitable move by China whose is building stacks of BTC from all the newbies and weak hands that just don't know how to hold.

Well YOU may think they are idiots, but each investor makes decisions based on their own circumstances and some would have thought it was a great time to crystallise a profit. No-one ever got poor by taking profits.

Obviously this annoyed hodlers, but each person has got to do what is right for them

Indeed... no one ever got poor from taking profits, but no one ever got rich by falling victim of panic selling, let alone by selling at a loss.

You need to take risks if you want to make it. If you believe in Bitcoin, why would one dump because China says they are banning ICOs? I mean let's think and not fall for the FUD. It was clear these fundamentals wouldn't have a negative impact on Bitcoin for long. It was a temporal thing and once the 48-hour period allowed for the global market to absorb the news, the price would recover (given that none other FUD-ish news happened).

[p0peji]

I think the drop had nothing to do with the China ICO ban rumor and everything with the 5000$ barrier.

[iram1011]

I think the drop had nothing to do with the China ICO ban rumor and everything with the 5000$ barrier.

Exactly, a dump was already expected as Bitcoin rallied to $5k. China's ICO ban just intensified it. As always many new investors were caught in the dump and many traders took the benefit of the dropped price and increased their BTC holdings.

[lionheart78]

Whales feeds on plankton  Definitely China intention is to short and buy back at the dip of BTC.  They had seen this reaction before and will use it again and again until they accumulate lots of BTC to control the market that they had been trying to control ever since.  Sad that there are still uninformed newbies that falls for this trick of China.

[pooya87]

it has never been China! it was the news of China.

it has always been the market makers in bitcoin who manipulate the market to their own advantage. the news is just the icing on the cake which makes it easier. others also know this pattern and join in. for example when you hear a bullshit news like that and you know panic is about to break out, you dump as fast as possible because "cheap coins are on the way" and make a huge profit from idiots.
again this has nothing to do with China.

the chart you marked is mostly falls in the period where Chinese didn't even have access to any exchanges! their own exchanges such as OkCoin, Huobi,... were closed down for months and they could not trade on foreign exchanges.
again proving that swings has nothing to do with Chinese, but idiots who think it is Chinese so they fear when others are silently taking their money and blaming Chinese!

The chinese didn't need to have access to said markets. Bitcoin is exposed to the entire world, what im saying is, the panic selling gets triggered by news that come from China, im not saying it's the chinese dumping.

What I don't doubt is, the government and people with insider information foresee these press releases of "PBOC to regulate exchanges", "China banning ICOs"... and so on, so they can set shorts before the news are released and then profit from the dump. This is insider trading and this has been happening since the beginning of the first market to ever get established. It's obvious that Bitcoin's market is not going to be immune to that.

again it was not related to China, it was the "NEWS" from China or let me say it was the news. and the news can very well come from anywhere in the world. it just happens that Chinese have been the focus of most news for some reason. otherwise it is the market that reacts to them.

don't you remember the ETF? or was that Chinese too?

my guess is that because it is mostly because of Chinese government and because it is a foreign language! for example if during ETF news someone said US banned bitcoin, everyone could easily check it with a fast google search and laugh at the lie (most people speak English and it is easy to find news that way) but if you say China banned bitcoin, a google search doesn't bring up anything unless you know Chinese and can verify the news. so the FUD is always like that: China banned bitcoin, Russia banned bitcoin,...

and here is the funny part:
you say "PBOC to regulate exchanges" i say regulations issued by the New York State Department of Financial Services for all crypto related businesses in effect for 25 months (2 years and 1 month) exactly.
i say IRS taking taxes, raiding people houses for tax evasion regarding bitcoin for 3 years

you say "China banning ICOs" i say SEC has already started issuing warning about ICO scams ever since July. and they have shut down a couple of them so far.

but the funny thing is nobody even hears the news from other parts of the world. China farts and the internet is filled with FUD that bitcoin is gonna die.

[piloder]

Chinese government might have a kind of agreement or partnership with big chinese bankers and investors and as china have bigger influence on crypto market they are now making this an opportunity to make millions within short term by creating fud regarding ban/licencing/halting trade.

I don't follow chinese bullshit, if there will be another deep I am ready with few thousand $ in fiat. 

[Denker]

Chinese government might have a kind of agreement or partnership with big chinese bankers and investors and as china have bigger influence on crypto market they are now making this an opportunity to make millions within short term by creating fud regarding ban/licencing/halting trade.

I don't follow chinese bullshit, if there will be another deep I am ready with few thousand $ in fiat.  

What influence is china having? Please explain?!
I can not see any! UASF forced to chinese miners to adopt SegWit!
And B2x will just be another altcoin like Bcash is.
Any other country of certain economic size could have said the same "ICO illegal" and the effect on the market would have been the same for a short moment.
Furthermore the market has overreacted, like always. This space is full of unexperienced newbies who act highly emotional. It's so easy to play the market. If you are in for a few years you see the same shite happening again and again. You just need to hodl and buy more when the price dips/drops. It is so easy!!!!

[stompix]

Look at the bright side, getting rid of weak hands ensures healthier growth and helps Bitcoin in the long term. You gotta prune the tree every now and then if you want to see it grow high and tall.

Has anyone kept count how many times China "banned" or "unbanned" crypto? I kinda lost track over the years.

Oh common...
We have been getting rid of weak hands for years. If every drop would work that way you would be boarding the metro with only people with no hands around you.
We got rid of them in April '13 , we got rid of them when SR crashed we got rid of them the 100 times China banned bitcoin, we got rid of them because gox 1 gox 2 and the final gox...but they keep coming and dumping. I don;t know where the factory that makes them is but they are top notch manufacturers.

Whales feeds on plankton  Definitely China intention is to short and buy back at the dip of BTC.  They had seen this reaction before and will use it again and again until they accumulate lots of BTC to control the market that they had been trying to control ever since.  Sad that there are still uninformed newbies that falls for this trick of China.

I really wanna see how this will end.
They will accumulate all the coins, paying billions for it to end up as the sole bitcoin owner in the world?
Stop with the conspiracies, the Chinese government doesn't care about the coins but the owners.
They fear the money flow they can't control.

[dothebeats]

Not really giving a single fuck about what China does into their own regulations. Haven't really bothered when the price kept on dropping to $4300 and just went on to try and buy some coins on our local exchange. Idk why most of the people still sell their coins when prices are dropping, when the charts tell us historically that bitcoin keeps on going up no matter how hard the crash can be.

[jekjekman]

Their Government just did what they need to do for their citizens safety and security, it is true that it really affect the price of bitcoin when they banned it but I think China do not intend to control or manipulate the price of bitcoin for their own sake.

It is just that a large majority of the people who knew cryptocurrencies are in China that is why after the banning of ICO's it really affects the price of Bitcoins.