Today, Bitcoin dump ?

[nakata90]

Can anyone tell me what is happening to Bitcoin? BTC price from 4660 dropped 4k1 and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

[nick1198]

https://cointelegraph.com/news/breaking-bitcoin-altcoin-prices-tumble-up-to-25-on-china-exchange-ban-rumors

Local outlet Caixin is reporting the Asian country is planning to shut down local bitcoin exchanges, according to a Google translation.

Bitcoin's price fell 7 percent Friday following the news, according to Coindesk market data.

[BrewMaster]

Can anyone tell me what is happening to Bitcoin?

same thing as always, it is going up and down. up and down.
then FUD hits and the down becomes bigger. then recovers.
then up an down. up and down.
then a HYPE comes and the up becomes bigger.
....

BTC price from 4660 dropped 4k1

where did you bring 4k1 (whatever that means!!!)
the lowest it went were:
4227 @bitstamp
4260 @coinbase
4211 @bitfinex

and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

it is the panic sell.
is it your first time with bitcoin? because this is not the first panic sell. we just had one exactly 5 days ago!
another one last month on 22nd of August
another one 2 months ago on 16th of July

and hundreds and hundreds more!

[smauni]

I am also confused about bitcoin crash. It's going down and down. the alts is also red. I don't know what to do now.

[ShitTeam]

I am also confused about bitcoin crash. It's going down and down. the alts is also red. I don't know what to do now.

You do nothing as always. Bitcoins you've sold will never grow, no matter how long you wait.

Can somebody post a working link to the article about China rumors?

[adamagb]

A 10-20% daily swing in price isn't any cause for concern. Even a 50% swing isn't really anything special, not with the kind of rapid growth it's had of late.

A crash is if it falls back to what it was not long ago, to the $500 range.

[bitorama]

perhaps because chinese government will ban exchanges in china

[7daystodie]

A 10-20% daily swing in price isn't any cause for concern. Even a 50% swing isn't really anything special, not with the kind of rapid growth it's had of late.

A crash is if it falls back to what it was not long ago, to the $500 range.

Maybe this is normal for a crypto currency, but it's very unpleasant to watch your capital thaw)
But I am optimistic and confident that very soon the price will go up again

[buddynuno]

It dumped because of China fake news about Bitcoin Ban. It happened in 2014 and now they are doing it again. IT is a hoax. Don't fall for it. Don't give your Bitcoins to them.

[harizen]

Can anyone tell me what is happening to Bitcoin? BTC price from 4660 dropped 4k1 and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

So you are in a worry right now because like you said you are not calm. How much more if the price if the bitcoin price crashed at $2,000 what will you do now lol.

Rather than looking at the technical aspects why the price decreases today, try to learn the meaning of volatility or should I say the bitcoin price behaviour. Didn't you know that price decrease is giving us an opportunity to make again another rounds of buying. Also what you must look when you are holding bitcoin is "LONG TERM GOALS" and this price decrease can be recovered. Remember the recent price decrease just days ago? Take it as reference.

[Wexnident]

Can anyone tell me what is happening to Bitcoin? BTC price from 4660 dropped 4k1 and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

Keep holding your Bitcoin. As an investor, you should expect for risks like this. But everything's assured that it will eventually increase again. Maybe it is because of the hardfork that will happen in the month of November. Fluctuations on its demand and market value are innevitable. There's nothing to worry, things like this is part of Bitcoin's volatility.

[ptrk]

There are rumours that Chinese authorities shut down local Chinese exchanges. I do not know whether this also holds to Hong Kong based exchanges. If so it could hit major exchanges like Bittrex.

[Qtrez]

Can anyone tell me what is happening to Bitcoin? BTC price from 4660 dropped 4k1 and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

if you draw conclusions will be pumped, yes buy to invest.
but if you are very doubtful. it's better to hold it and recalculate it.
I can only monitor developments

[AleSergio]

Yeap as previously said we have entered such type of the market at the moment, when bitcoin pumps and dumps regulary it will last approx. week or two.
After it we will see a huge HYPE and bitcoin will reach 5000$

[MV7]

Looks like the bleeding may have stopped. Bitcoin back up to 4.3k

[Jating]

https://cointelegraph.com/news/breaking-bitcoin-altcoin-prices-tumble-up-to-25-on-china-exchange-ban-rumors

Local outlet Caixin is reporting the Asian country is planning to shut down local bitcoin exchanges, according to a Google translation.

Bitcoin's price fell 7 percent Friday following the news, according to Coindesk market data.

Yes, this what really drove the price to dive today. Its only Chinese exchanges though and not Asian countries. Its really the news the comes from China that impacted the price negatively. We have just recovered from their ICO banning news last Monday and now this. They are really clamping on bitcoin now. I do not know what drove them to be anti-bitcoin, though majority of the mining farms are located in their country.

[AlfredKo]

The reporter at Caixin news said China is going to ban Fiat to Bitcoin exchange, based on their own sources.
So yes, it is unconfirmed report aka fake news.

But it is highly likely it will happen in future. The 4th September announcement Clause 3 did mention China is going to regulate the exchanges strongly. China is against money laundering, not Bitcoin. So anything can happen.

http://finance.caixin.com/2017-09-08/101142797.html
The first comment, a Chinese said "This is fake news, anyone can publish a news with 100 Yuan bought from Taobao."
Another user commented: "I lost 30,000 Yuan today because of this shit news".

It looks like it's planned, or the massive sell off happened coincidently. But fluctuation of just $400 is perfectly normal for Bitcoin on any day.

[Lucid717]

It dumped because of China fake news about Bitcoin Ban. It happened in 2014 and now they are doing it again. IT is a hoax. Don't fall for it. Don't give your Bitcoins to them.

I wish so much that it was just fake news, but it's very real.

I get it... you, and others probably have a good amount invested in BTC, and so want to restore people's confidence no matter what it takes.  But that's selfish and could be damaging to other people.  Honesty is in everyones best interest so that we can make educated decisions and to when to buy, sell, and hold.

I had a feeling this surprising recovering didn't have very strong legs to stand on.  And I wasn't the only one.  I hope to God I'm wrong and pleasantly surprised, and that 41-4200 was the low water mark.  But I don't think we're out of the woods quite yet.

[jaceefrost]

I don't understand why china will go against bitcoin as to prohibiting bitcoin exchangers in china. That country rely so much with digital payment and most people there are widely using cyptocurrencies. One thing they should do is just regulate exchangers and don't ban it.

[haroldtee]

Can anyone tell me what is happening to Bitcoin? BTC price from 4660 dropped 4k1 and still continues to decrease, investors and trade as I'm feeling very confused. Give me some advice right now, so I can calm down.

This should not really be a worry. Almost all the cryptocurrencies dropped in value and are already picking back up. In fact those dips were the best time to buy for those of us who are trading. This happened after a fake news was released about China shutting down all exchanges which was later announced it wasn't right. This is normal in every market and cryptocurrency market isn't any different.