Today, Bitcoin dump ?

[AlfredKo]

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.

China regulates their capital outflow very tightly.
The big cities have achieved 100% cashless via Wechat Pay and Alipay. Both transaction are fast, convenient, going through banks which is regulated, a win-win for everyone.

Bitcoin is obviously not regulated and bypassing the banks, and they're figuring out how.
Just like Didi Chuxing (China's Uber) was illegal until China outlines the law that regulates car hailing service.

China wants to be the leader of technology and blockchain, they WILL lift the ban on ICO and regulate exchanges in future, it's only a matter of when.

[kamikadze69]

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.

hold first. I think this is normal and still safe. situations like this I think are only temporary and will definitely return to normal within a few hours or days.

[peterthegreat]

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.

hold first. I think this is normal and still safe. situations like this I think are only temporary and will definitely return to normal within a few hours or days .

The price is already bouncing back now after just one week. I think it is not going to crash because it did not yet reach $5,000 and everyone wants to say Bitcoin reached $5,000. I think it will go $6,000-7,000 before crashing.

[eaLiTy]

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 entire week ,the market is reacting to the news coming out of China,first they banned ICO's and the market crashed and now they are after exchanges and so is the reason the price dipped today,these sort of news could make a huge impact in the market and people will panic sell their coins,so if you are looking for a good profit,hold on to your coins as the market will recover eventually.

[Eternu]

I guess it one of those panic sales, it happens from time to time, and it is nothing to worry about. Price of bitcoin always fluctuate, it is going up and down and up and down again, it is always like that. Unless you are new to bitcoin and do not know this things. I have also heard that China banned local bitcoin exchanges, and i think that is not truth. Most powerful miners are from china, and it won't be that easy to stop them.

[n0ne]

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.

hold first. I think this is normal and still safe. situations like this I think are only temporary and will definitely return to normal within a few hours or days.

The price seems fluctuating and today it's a drastic fall compared to the drop in price that happened few days back. In a single day the price has fallen more than $350. This won't continue for long as the recovery of price is expected in a short time after dump causing a price pumping. Today the entire list of digital currencies were experiencing the same issue.

[smokeydog]

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.

This is more then fake news from China.   Bitcoin at this time is not useable as a real currency.   There are very few markets where it can be used like a dollar to buy a cup of coffer or gallon of gas.   Outside of it being a speculative investment, to use it the gateway exchanges are the place of conversion to local currency when something needs to be purchased.   Those exchanges are going to face regulation and they must accept regulation or crypto will be nothing but a black market type of money.

There is a long way to go to get this stuff into the main stream and governments must be onboard.  When the US Government gets this all figured out, they will swoop down.  Capital gains taxes will come due as soon as they require the exchanges to report conversions in and out.   Don't be fooled into thinking that the US Government isn't going to get involved in this.  Don't underestimate the power of the US Congress.  Governments are going to get their cut one way or another.   They can make thing very difficult.

I see positives for bitcoin but not if the US Government goes on a full time attack.   I have no interest is making my living in the black market.  The US and China need to be able to generate reasonable regulation or we get nothing but illegal activity which is not what we need.

[exstasie]

I guess it one of those panic sales, it happens from time to time, and it is nothing to worry about. Price of bitcoin always fluctuate, it is going up and down and up and down again, it is always like that. Unless you are new to bitcoin and do not know this things. I have also heard that China banned local bitcoin exchanges, and i think that is not truth. Most powerful miners are from china, and it won't be that easy to stop them.

I highly doubt the rumors are true. This is classic FUD, the likes of which were also used in 2014 to manipulate the price of BTC. Here's one example that turned out to be 100% false:

Today, CCB Bank(a Chinese bank) have a secret file leaked, which showed China Central Bank ordered commercial banks to ban bitcoin exchange's account.

This is the detail of this order is here:http://www.yibite.com/article-3819-1.html  (Chinese)

Then, like now, there was never any official announcement made. The government never did anything. We are all running around like chickens with their heads cut off, all because of a Caixin article with no sources!

I hope they lose some credibility as a news source after this.

[StockBet.com]

China and the West are the biggest money launderers in the world.

The Chinese people have been laundering money out to buy real estate in the West for decades.

Several years ago, China's central bank asked Western governments to help stop this.  Instead of helping, Western governments such as Canada and Australia, aided and abetted the money laundering, by offering visas to any Chinese who brings over $X.

Banning crypto exchanges is probably another attempt by the Chinese government to stop this money laundering.

When Western governments tell you that they want to regulate cryptos with AML, they probably want to stop outflow only, not inflow of money.

[Bobsrepair]

China and the West are the biggest money launderers in the world.

The Chinese people have been laundering money out to buy real estate in the West for decades.

Several years ago, China's central bank asked Western governments to help stop this.  Instead of helping, Western governments such as Canada and Australia, aided and abetted the money laundering, by offering visas to any Chinese who brings over $X.

Banning crypto exchanges is probably another attempt by the Chinese government to stop this money laundering.

When Western governments tell you that they want to regulate cryptos with AML, they probably want to stop outflow only, not inflow of money.

THE US also offers Green cards to any Chinese investor that invest 500k and creates ten jobs for two years.

[StockBet.com]

THE US also offers Green cards to any Chinese investor that invest 500k and creates ten jobs for two years.

According to MarketWatch, People's Bank of China (PBOC) in 2011 said:

"Corrupt Chinese officials and employees of state-owned companies have absconded with about 800 billion yuan ($123.7 billion) of public money over 15 years through 2008, much of it making its way to the U.S., Canada, Australia and the Netherlands";
"16,000 to 18,000 individuals have fled the country with ill-gotten funds over a 15-year period".''

This is $6.9-$7.7M per official.  The PBOC asked for help from Western governments to stop this.

"The PBOC said in the report it planned to work more closely with foreign governments to block the officials from escaping with looted funds. It also said it has increasingly begun to take part in international anti-money-laundering organizations."

Instead of helping, Canada and Australia provided resident visas to the Chinese if they brought over a certain amount of money.  The Chinese bought thousands of expensive houses.  Real estate is a multi-billion dollar money laundering scheme.

In 2012, the Wall Street Journal explains how the Chinese accelerated this money laundering (with the help of Western governments).  The situation has gotten so bad, that the Chinese government is taking matters into its own hands:

"Police sent from China have been secretly investigating officials suspected of money laundering in Canada, where they are believed to have invested a “staggering” amount into real estate."

"…global outflow of Chinese capital hit a record of $18 billion in 2014, and the amount flowing to Canada – specifically Vancouver – is rising."

Yes, the U.S. government also aids and abets in money laundering.  All other types of money laundering pales in comparison.  When the government tells you that cryptos needed to be regulated to stop money laundering, their mantra is "do as I say, not as I do".

[kram31]

it is an ordinary thing for bitcoin to dump and pump dip then rise ..
i think one of the main reason now is that china thing shutdown the BTc in their country and holding those account with bitcoin .. many investors are push to give back the money back tooo ...
but its ok as many country now is backing up the bitcoin ... you will see the hype sooner or later ... ill bet on bitcoin to have 6000usd per btc before the month ends ... so wake me up when september ends i think .. i already invested on btc ...

[GreenBits]

it is an ordinary thing for bitcoin to dump and pump dip then rise ..
i think one of the main reason now is that china thing shutdown the BTc in their country and holding those account with bitcoin .. many investors are push to give back the money back tooo ...
but its ok as many country now is backing up the bitcoin ... you will see the hype sooner or later ... ill bet on bitcoin to have 6000usd per btc before the month ends ... so wake me up when september ends i think .. i already invested on btc ...

curb this enthusiasm. until this clears up definitely. if china really is out of the market, the price is going way more south than ths. if this is a rumor, then yes, we may regain 5k, but it will be a more cautious uptrend, hopefully, essentially more organic growth then what we just saw. I see it trying to deadcat a little bit, we are in the first bounce last time i checked. this keeps up, the next bounce will put us under 4k. lets hope someone with authority clears this up before people continue to go full retard.

edit: we are just now entering the second bounce. im holding nubits, so, interested to see where this settles out. nubits tend to uptrend disproportionately when bitcoin downtrends

[francesyrus]

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.

It always happened on bitcoins that the value will go down but suddenly it will go up very high, nothing to worry. Some big investors make it dumb so that they can buy more bitcoins in low price. After that you can see big pump on bitcoins. This is for my own opinion.

[Cindy1983]

I have no idea for this case but I think it's normal cause coin market dump and pump everyday or maybe everyhour so I think we no need to worry about it. Maybe tommorrow bitcoin will get back to 4k5 . Beside I heard some news about ICO banned in China, maybe it's the main reason for this dump

[Taylorw]

As far as I'm concirned, I was feeling really panic a week ago when we faced with a price drop. And now we have the same again. It gives a hope that after weekends price will go up

[Rahar02]

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.

The only thing to do is be prepared for everything, place your bet to 'sell' or 'buy'.
If you're among of true holders and can wait for months or years, don't let this news bother you.
Because mostly seems like FUD trying to bait panic sellers to dump their bitcoin, so the whales could purchase another cheaper coins before it rise again.

[NL-Bitcoin]

Dump and pump it's going back up!

[Halcyon Days]

I am really surprised how much the BTC price seems to be dependent on China and other Asian countries. Brief negative news and the price drops quite a lot. What would happen, if a country decides to ban crypto currencies?

[machinek20]

Since there was the banning from china government the price has not been stabilize and it got worse with the issue of closing exchanger, but just hold your bitcoin steadily, the price will still go up, I have encountered this situation for a lot of time and bitcoin will and still doing fine