Why such a crash in China?

[Peter1984]

https://bitcoinwisdom.com/markets/okcoin/btccny

Alt coins also dropped.

[TheQuin]

This:
The end of the virtual currency exchange era https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Ffinance.caixin.com%2F2017-09-08%2F101142797.html&edit-text=

China to ban currency exchanges.

[cryptocan]

I didn't think Chinese care that much about the government ban, usually they do the opposite thing than what the government tell them to do !

[Tezcalitpoka]

We should BANN China, enough, fc** manipulators..

[TheKubizz]

Most of ppl in China who cares about crypto will find a way around it. It's more of a rumor what is pushing coins down. Just wait and we will be back on track.

[Iwuzhaxxed]

We should BANN China, enough, fc** manipulators..

I love these manipulations. Get off the train now then get back on later. profit.

[KingCanute]

What is this bullshit Caixin article that is dated 2 weeks into the future??? (September 20 2017 written on byline)

[bamboylee]

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.

[carlisle1]

so this is one one the big factors why we are shaken again and its really annoying every time bitcoin tried to make a move bad news always occurred,
I think china whales are really enjoying playing with the market then for sure another bounce back will happen, just carefully watch the movements.

[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.

[danherbias07]

We should BANN China, enough, fc** manipulators..

Nice  . Had a good laugh.
The recent ban in the ICO is really a smack to the face. They think they are the only country controlling the world of crypto. After all this the prices of altcoins and bitcoin will go back and they wont matter anymore. I guess some of their countrymen now are on their planes and going to other countries.
If you have a lot of coins and can live with it will you still stay?

[Eega726]

It's due to some fake news ... http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

[Bowtiesarecool]

It's due to some fake news ... http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

Someone should start an ICO to curb this fake news business

[go4crypto]

Most top coins have already bounced back nicely after the initial panic reaction to this news.
This should be the end of this latest crypto correction that started last weekend on China ICO ban FUD.

[Stgsurya]

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.

[nadrojcote]

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.

This is most likely one persons interpretation of china's law that crypto currencies are not allowed to be used as a currency. They're only to be used as a commodity meaning you cannot purchase items or services with them like you can in other countries. Lots of people took this as you cannot purchase currencies with money.

Some sites were saying that some chinese exchanges were already stopping the purchasing of cryptos, but not the sales. Which makes no sense, if they were going to ban one they would ban both.

[barota]

https://np.reddit.com/r/BitcoinMarkets/comments/6ysgiy/daily_discussion_friday_september_08_2017/dmqa5sz/

the news of China is not yet spreaded

[parepare]

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.

[Huonghoang1939]

This September is probably the hottest topic is the article on China. When a country has huge hoard of BTC, then it always master the game.
 Not only has the BTC that ICO or Altcoin, has been controlled by China.  I hope someday Russia or America will master the game of BTC. There are too many disadvantages when China holds an asset volume too large BTC.

[Koontas]

It seems that China wants some cheap coins again, same procedure as always.

And according to cnLedger they have asked representatives from OKCoin and Huobi and they have not received any notice and they're operating normally.