More Chinese FUD to trigger panic selling on idiots

[Lucius]

http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

This certainly makes sense,they have power to do such things and any bad news they publish is make a significant drop in BTC price.But we have very strong resistance at 4000$ and no bad news can crash price bellow that point on western exchanges.But after news is go out, price on Chinese exchanges go under 4000$,I think I see around 3600$.

After ICO&exchanges only thing they can try to regulate next is mining farms,imagine news that Chinese authorities are planning to close down all mining farms in China-that will be big killing&bloodbath for cryptocurrencies...

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[makishart]

http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

At least some responsible government.  China is making sure, more people will get Bitcoin before it gets to expensive. Without China wise leaders, Bitcoins would be $100k by now and who you think could afford to buy them?

Rothschild's
Walton's
Koch's
Mars's
Slim's
Bettencourt's
Arnault's

same old shit as we have now.

We are lucky some countries are lead smart leaders and not funny hair leaders like North Korea and USA.

bitcoin is flexible, even if the price hits $100,000 dollars it will still affordable even for beggar, what's the matter now. it's not all about the price but just how the regulation of the chinese government could trigger panic sells. one more, there's nothing like "China is making sure, more people will get Bitcoin before it gets to expensive", china government don't give two shits about this and plain BS

[guclu]

it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.

[Qunenin]

Let them sell. China and the nay sayers are there every couple months and it is not a bad thing in the end. It is a good way to separate the men from the boys and keep the veteran trading group strong with those that can ignore the BS. I would rather see the scared and spineless run and dump rather than have that kind of fickle player in the markets, they are the reason that the prices are harder to predict than in some other markets.

[HalfDeck]

it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.

I cannot understand your mean, why we need buy back in 48 hours or less? Do you have any issue for buy later than that limit time? Bitcoin does not increases fast when has panic seller on the market, but you will miss opportunity buy back with cheap price if you buy late

[taktik]

it is always good news when the panic starts. i see only profit at times like this. i always wait for the panic to end and then i get some money from anywhere i can manage, even if it means borrowing it and then buy as much bitcoin as that money buys me at the bottom and get the reward in less than a weak as those who sold are then buy back from me at a higher price. i give back the money i borrowed and keep the profit in bitcoin

Yes, that is what I wish I had done after each and every time... but I just am against borrowing money from people I am not 100% sure of, and when this shit happens I never have enough money of my own to buy some more btc. The best thing that could happen is to predict a fall to go further when it starts and sell there your own btc to buy it back in 48hrs or less. Which was, I guess, less this time.

I cannot understand your mean, why we need buy back in 48 hours or less? Do you have any issue for buy later than that limit time? Bitcoin does not increases fast when has panic seller on the market, but you will miss opportunity buy back with cheap price if you buy late

It seems to me that many traders are happy about this news about the panic. The fact is that lately, at all price fluctuations, crypto currency, some people have earned a huge fortune. Thus, the Chinese situation and the excitement in the market in this respect are only positive for us and plays a good role in the purchase of cheap Bitcoin.

[HTracer]

It was so many times before that "China to ban bitcoin" FUD would had turned into bullish  , but it didn't this time.
I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

[btcney]

http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtml

Weekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.

Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.

Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.

This part of your post is completely right in my opinion.

The so called report collected from trusted sources within Chinese officials is probably nothing more than something that a trader who had significant amounts of short positions piled up, leveraged, ready to make a profit commissioning these news reporters to make up news from thin air.

People are starting to realize this now, and price has rebounded back to $4350. Nothing has happened to exchanges, nothing at all. They have all received no news whatsoever of a potential policy change from Chinese regulators. I predict the price to go to $5500+ by the start of next month as the news is confirmed fake and people become confident in trading again.

[alyssa85]

The so called report collected from trusted sources within Chinese officials is probably nothing more than something that a trader who had significant amounts of short positions piled up, leveraged, ready to make a profit commissioning these news reporters to make up news from thin air.

The Chinese central bank put out a statement in English:

http://www.pbc.gov.cn/english/130721/3377816/index.html

I. The Essential Attributes of Fundraising Through Coin Offering

Financing through coin offerings refer to financing bodies raising virtual currencies such as Bitcoin or Ethereum from investors through illegal sales and circulation of crypto currency or tokens. Such offerings, in essence, are unauthorized and illegal public fundraising and are suspected of involving in criminal activities such as illegal selling of tokens, illegal issuance of securities, illegal fundraising, financial fraud and pyramid schemes. The competent authorities will closely monitor the related developments, strengthen coordination with the judicial departments and local governments, strictly enforce the law and work based on the current mechanism, and resolutely clamp down on market irregularities. Any suspected crimes, once identified, will be transferred to judicial department.

The token or “virtual currency” used in coin offerings are not issued by the monetary authority. Such currency does not have characteristics of money such as legal tender status and mandatory use, has no legal status equivalent to money, and cannot be circulated or used as currency in the market.

II. No Organizations or Individuals Shall Engage in Illegal Fundraising through Coin Offering

From the date of release of this Notice, fundraising through coin offering shall be banned immediately. Any individuals or organizations that have completed fundraising through coin offering shall make arrangements to return the funds raised, and to ensure that the legitimate rights and interests of the investors are protected and the risks involved are properly managed. The government departments concerned will strictly investigate and address the coin offering activities that have continued despite the ban and the illegal activities in the projects that had completed fundraising.

This is the first time the PBOC has decided to clarify in English, and I don't think there is any ambiguity - selling of tokens is illegal and what do exchanges do? Buy and sell cryptocurrency tokens.

[1Referee]

I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

[LFC_Bitcoin]

The price is beginning to recover as we enter Tuesday, hopefully after another China FUD stunt over the weekend the price picks up & heads towards the range we were at pre dump. Be nice to see somewhere between $4600-$4900 by the end of this week.

[Slow death]

...

maybe my IQ is too low to understand certain things, but look at this:

" The token or “virtual currency” used in coin offerings are not issued by the monetary authority. Such currency does not have characteristics of money such as legal tender status and mandatory use, has no legal status equivalent to money, and cannot be circulated or used as currency in the market.
 "

I understand with these words that bitcoin and all altcoins fit into these words.

they need to use another argument to ban ICO's, unless the intention is to ban all “virtual currency”

[lumeire]

...

maybe my IQ is too low to understand certain things, but look at this:

" The token or “virtual currency” used in coin offerings are not issued by the monetary authority. Such currency does not have characteristics of money such as legal tender status and mandatory use, has no legal status equivalent to money, and cannot be circulated or used as currency in the market.
 "

I understand with these words that bitcoin and all altcoins fit into these words.

they need to use another argument to ban ICO's, unless the intention is to ban all “virtual currency”

BTCBTCBTC and altcoins in general are the grey area in there for a long time already. This time they just wanted to block all ICOs. Transacting with BTCBTCBTC and altcoins are still allowed I believe.

[bitpeepcom]

The price is beginning to recover as we enter Tuesday, hopefully after another China FUD stunt over the weekend the price picks up & heads towards the range we were at pre dump. Be nice to see somewhere between $4600-$4900 by the end of this week.

Not over yet. My guess: we will see sub 4k before we can pass 5k again

[HTracer]

I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

That's why I like being here. Ethereum would be the most and overt dumped if it comes to ICO prohibition. What we have now it's 20% correction after August 50% run and that Chinese FUD is only excuse.

[BitcoinExpart]

I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

That's why I like being here. Ethereum would be the most and overt dumped if it comes to ICO prohibition. What we have now it's 20% correction after August 50% run and that Chinese FUD is only excuse.

Well i dont think so. it's just whales. I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

[Kemarit]

I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

That's why I like being here. Ethereum would be the most and overt dumped if it comes to ICO prohibition. What we have now it's 20% correction after August 50% run and that Chinese FUD is only excuse.

Well i dont think so. it's just whales. I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

Market cap is still at 142 Billion. There was some dumping again today, which resulted in another panic run. But I guess its all good because bitcoin will be really tested on this trying times. Its really the news that really pull back the price and whether intentionally by the Chinese it doesn't matter. They can go out now. For me they have benefited from the news they have announce, fake or not. I don't know what they are dumping bitcoin, if they are chasing ICO's the most likely to be affected is Ethereum. That's why it doesn't make sense to me seeing bitcoin being dump by them. So I'm speculating that they are really spreading FUD so that the big whales can benefit from all this panic.

[1Referee]

I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

Volumes are lacking because the entire market is extremely thin - it requires a relatively low number of coins to get the market to sink badly. If you also take into consideration that there are huge loads of bots pulling back their 'buy support' at the time the price is about to fall within a certain range, the buy side of the orderbooks gets even thinner. Other than that, the market has indeed kept holding strong despite everything we had to swallow, but I still believe that we'll see every USD exchange dive below the $4000 level before the end of this week. The sentiment has changed, and the momentum that's needed to get the market to rush up further is gone - let's see how much value these words still have at the end of this week.

[DragonSlayer]

I am still not quite sure that speculation about PBoC argueable ICO regulation was the only trigger of cryptomarket  rolling down. Prices dropped at openning American trading session time, not Asian.

I am quite sure that the drop we have experienced recently, is only the result of the long waited for correction. It's a pretty mild correction considering that we are still hovering over the $4000 level. If we look at the crypto market in general, and then directly at what coin should really get affected by this ICO ban, then it's Ethereum. This coin thrives on this ICO boom as insane number of coins get pumped into ICO's, making sure that these coins aren't coming back into the circulating market for quite a while - result in Ethereum's case is clear if we look at how it has exploded in value this year. Bitcoin shouldn't at all get affected by this, so I don't believe this ICO ban has had any effect on Bitcoin's market recently.

That's why I like being here. Ethereum would be the most and overt dumped if it comes to ICO prohibition. What we have now it's 20% correction after August 50% run and that Chinese FUD is only excuse.

Well i dont think so. it's just whales. I dont see any big volume with this fall. Market cap is still 144 Billion quit with the FUD. This time, most likely. Hold on tight!

Market cap is still at 142 Billion. There was some dumping again today, which resulted in another panic run. But I guess its all good because bitcoin will be really tested on this trying times. Its really the news that really pull back the price and whether intentionally by the Chinese it doesn't matter. They can go out now. For me they have benefited from the news they have announce, fake or not. I don't know what they are dumping bitcoin, if they are chasing ICO's the most likely to be affected is Ethereum. That's why it doesn't make sense to me seeing bitcoin being dump by them. So I'm speculating that they are really spreading FUD so that the big whales can benefit from all this panic.

Maybe there's effect rather on bitcoins since some low scale Ethereum holder will be panic and started to sell there coins into bitcoins and change it with fiat, And that would actually hit the price and some other guys out there think that banning of all ICOS on china can affect the bitcoins to and maybe some of them also dump off there hodl bitcoins since they think that this one will be strongly implemented ban to there country.

[vanessa98]

The crazy part to all this madness is that very few people will noticed that china has been saying this since 2012.

And its now 2017.. and they are still with bitcoin.. so that says everything..

I wish I can find the old thread about china banks and business not accepting etc, then other madness.