Why such a crash in China?

[SenSeiSoKo]

Maybe they will change this decision, maybe they will not. But there are few other markets at the moment, we will see what will happen. The ICO ban is already known worldwide. no big deal. 

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[Mr.Scott]

Because of fake news, we have heard Chaina exchange being banned. Thus, I believe that Bitcoin is bigger than China, if they don't want to join in, they can be left behind.

[AdolfinWolf]

Too much FUD on china. This will be resolve soon and the price will go back to normal or back to going to the moon. Everything drops when there is bad news coming from china, but it always bounce back.

You can keep saying this until it doesn't, which, with how fast things are changing now, ( new laws, bills, regulations), won't be that long.

%% That China is going to ban all forms of cryptocurrency / cryptocurrency trading is becoming bigger and bigger everyday, They're a somewhat "communist" country afterall.

The Chinese government wants complete control over it. Once they find out they don't, & they also won't, surely something big will happen.

This whole ICO banning is just the start, or did you think that this would seriously be it? Because they haven't accomplished anything really with that ban.


I'm very afraid of the future of crypto in China.

This is going to slow down crypto , no doubt, but for those that really want to invest they are going to find a way even if that means violating their laws, this is no different than when the US banned gold and many did not obeyed the law and kept holding their gold.

Surely there will always be some people which will just continue trading, but the general public won't risk being thrown in prison for speculating a couple G's on crypto, which means that crypto is never going to become ""Mainstream ""Mainstream"" As VISA or PayPal is right now, which is, in my opinion, a shame.

[Gangy]

Chinese economy is one of the world's best and they want to stay it the way it is. They are aiming to control the world economy so they are trying to control the crypto world as well. That's why they banned the ICOs. Tho it's still not a big deal for crypto world. We will surely survive this.

[HODL to the moon]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

[grizmoblust]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

I think this crash is true not panic sell. because China want block some exchange on their country

[PokerFace3]

It's not problem of china. It's problem with other people who start panic sell. It's just manipulation. So far, China only banned some selected ICOs - no $Crypto ban or exchanges shutdown.

Dude, I wanna share my problem with you now. I am very much done with these discussions. I really don't get why people are mixing banning of ICO with the end of crypto world. Chinese government took this step because it was essential for the safety of its local economy, it has not banned crypto coins and it never will.

[AleSergio]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

I think this crash is true not panic sell. because China want block some exchange on their country

It is panic sell also, because a lot of newbies see a red price and think that everything is ruined But yeah i think on the other side it is also true because chinese investors maybe are trying to be safe a little bit, but when all this speculations will be over, price will recover and everything would be fine.

[IceOleg]

Even if the news is actually a true, than China is doing exactly what is has to do - trying to regulate the market and close unreliable ICO's and exchanges.
The guys who are pushing these news stories with no actual proofs - are just manipulating the market, making newbies to panic sell, good and classic move!
Long term investors don't really care too much and see this as a good chance to buy some cheap coins.

[nhote]

now apparently official:
https://cointelegraph.com/news/china-ban-on-ico-is-temporary-licensing-to-be-introduced-official

[anelenaniku]

Period, it time to buy more BTC and Alt Coins. Some other country will support ICOs and the prices will rice again. China can't ban anything, it just help people buy cheap.

[cryptocan]

china have done it so many times, I cant understand why do we fall for it every time ?!

[berrygood]

Scaring... Thank god I am not chinese. I would probably dump all my coins. Real news, fuds, speculation and more... I am happy not to have a lot of coins now.

[Drowzy]

china have done it so many times, I cant understand why do we fall for it every time ?!

That's right. China manipulates the markets all the time. This is no different. After they have bought enough BTC or whatever they are after then we will hear about regulations and everything okay... until the next time Chinese officials want to make bank.

[nikisev]

What we see is emotional sale. Everybody think that its going down so its better to get off and get on later when market hits the bottom. Cryptocurrency volatility is awesome. If you are long term investor it does not matter. If you are daily trader - its paradise. Its only bad for you if you not sure what are you doing, so you just do what others do.Nothing really changes - buy low and sale high, and this time nobody will stop trade on the floor at 17:30 or when index goes 15% under.Technology is not compromised, its clearly solves some of the worst problems of finance world. Cryptocurrency is here for a long time.

[Snaic]

There is no collapse with respect to crypto currency in China. According to official statements from China, measures are being introduced to clear ICO of possible fraud and protection of investors' rights. There are indeed problems in this area. As for the ban on trade in crypto currency, it is probably related to the ICO and when solving this problem, the restrictions will be lifted.

[ansi]

This is what i call Fundamentals of the crypto wold haha
Major BAD news that destroy the market to the ground for some. I'm dead sure that many lost alot according to this.

Remember another thing guys, this crypto world is made to be decentralized, so sooner or later the crpto world will win for sure. it's just adapting with the bad conditions & laws, be patient & don't panic, hold your bad & everything will be alright.

[klixion]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

[Barbarian]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

That is the main reason why we need decentralized exchanges. All those bans and regulations can suck balls then.

A decentralized exchange is needed more than ever, there are a few but some users that have use them says that is not exactly the same, the first decentralized exchange that can deliver is going to become extremely powerful and their owners very rich.

[MiBambino]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now