Today, Bitcoin dump ?

[jackg]

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?

There are countries that already have. China already ban quite a bit of cryptocurrency usage anlong with quite a few other asian countries. Bans mainly exist for money laundering purposes but countries like China want to try to promote and increase the value of their native currency.

If there was a full out ban on cryptocurrenceis, then large amoounts of companies would either have to shutdown or relocate. Companies like BW, Bitmain, btc.com would all have to relocate.

[zarados]

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.

Don't you think this is something usual on bitcoin and other crypto currency?. You'll not see a green candle everytime dude, there's also a red. And you're right, this time bitcoin about to fall. If you're doing long term, you'll keep calm on this situation, except you're doing a day trading, I thougt you've a bad entry point, that's why you're confused. I suggest to provide more money to buy more in the dips. and keep hold, never think to cut loss your bitcoin.

[datodota002]

keep calm dude, it's happen because there are issue in china will ban crypto exchange, it make chines investor and trader panic, but it just an issue. not really happen

[Taylorw]

It seems already to be going up again. I think, it gives us good opportunities for short term investments and quick not big profit

[ethereumhunter]

i hope bitcoin community not to get bad impact because of china banned bitcoin but yes, yesterday there are panic selling from people in the market not just in poloniex, bittrex, in china market, i see people selling their bitcoin because of that news. i think if china really banning bitcoin, then people which have bitcoin and lived in china will searching solution so they can still use bitcoin.

[Saisher]

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.

So this is the one causing the price significantly, they are just planning and yet the price is dropping on all coins in the market, what more if they implement that Ban this is not good I hope they scrap the plan.

[TCortese]

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.

Trex is based in china??? That's news to me. Did you maybe mean Bitmex? Or that the US could follow suit?

[btcdevil]

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.

So this is the one causing the price significantly, they are just planning and yet the price is dropping on all coins in the market, what more if they implement that Ban this is not good I hope they scrap the plan.

Even if china going to shut down their local exchanges i dont think that will affect much as now other country have started to buy in bitcoins and lot of exchanges are going good, so no more china fud this crash is nothing to make panic in traders but nowadays users are taking this crash as buying opportunity. Bitcoin has very bright future.

[jorneyflair]

China recently banned icos which caused a huge dump from 5k all the way back down to 4k and then we started to recover, and we returned back to 4.5k, and then some more bad news related to china happened.

China is planning to shut down all bitcoin exchanges and the Chinese are most likely dumping their money.

[TCortese]

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.

I'm not as experienced as some of these other posters. I've only seen 4 or 5 major corrections/crashes during my time in bitcoin and every time it scares the living hell out of me. Every time I worry that this drop is different, the bubble finally burst, that a repeat of 2014/2015 is coming, etc. and it always recovers. Interestingly, I'm told that is a very common worry among inexperienced traders in all markets; that the market will crash and not recover. Settle down, breathe deep, it will all work out just fine.

My advice to you would be no different than many others you've heard: It's normal and all part of this game. Hold. Look at it as a buying opportunity.

Interesting side-note: I actually found this forum while trying to locate a place to express my concerns and seek reassurances during a crash just like you. My first post was very similar to this. It was considerably more dramatic than yours. I was going for funny, think I came off as whiny.

[RayvenPierre]

I think it is still because of the news regarding bitcoin being banned in China and people are still panic selling. We just need to see what will happen because bitcoin's price going up and down is just the normal thing that happens everyday.

[Sullivan456]

As an investor, you should expect for risks like this, good times bring you many profits. Instead of questions you try to understand the meaning of bitcoin price fluctuations. 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, everything's assured that it will eventually increase again. There's nothing to worry, things like this is part of Bitcoin's volatility.

[fossilized]

Take the approach to price as any other stock investor: Do the due diligence, come to a firm conclusion on the value of your investment and then buy low, sell high. If you don't believe in the tech and value of bitcoin, then every price drop will scare the hell out of you.

This latest price drop was due to another "ban crypto" attempt from China. The question is, given the technology, can anyone truely control a distributed cryptocurrency? Then you will understand why each drop has been temporary and the bounce comes in really quick. Money is still coming in from fundamental investors who are buying low with a view of selling high.

So you will need to shape your persective of your own investing philospohy and then you will understand why these price drop scare you so much.

[Lucid717]

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.

Not  really.  China has a middle class consisting of roughly 3 billion strong.  Think about that for a second... that's nearly half the worlds population.  Jobs from other countries are being shipped there daily.  Jobs that are easily taxable, unlike cryptocurrency.  They also hoard God knows how much gold... they refuse to report the amount, but everyone knows it's massive.

They will be the worlds next economic superpower, this is inevitable.  Sorry to say, but they don't need this (BTC).

[Lucid717]

I think it is still because of the news regarding bitcoin being banned in China and people are still panic selling. We just need to see what will happen because bitcoin's price going up and down is just the normal thing that happens everyday.

It's so much more than that.  They're not the only country considering regulating it at least if not outright bans, just the most impactful.  Many people also believe the value of BTC is a bubble right now that could burst at some point.  Then there's uncertainty over Segwit and the hard fork that's likely to come this time.

This really isn't a prudent time to buy.  I wouldn't keep all my eggs in one basket.  Maybe keep 50% in long term, and the other half flexible.  Personally I'd wait until the smoke clears from all the current uncertainty before getting back in.  In the past this would be a good time to re-invest, but things are very different now.

[0t3p0t]

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 is always not new in cryptocurrency world about the pumps and dumps even though how high and low the price is. You better keep calm and buy Bitcoins on its dip. You earn nothing if you panic. If you want good return of income you better invest in Bitcoin when the price goes down that is what most traders do. If only I had the capital to buy some Bitcoins I would probably  grab the opportunity to buy some in every price drop.

[Singbatak]

The collapse of bitcoins is a result of the chinese goverment's plan to halt the operation of the chinese exchanger. So many holders of bitcoins in china are selling their Bitcoins. So it will continue to hold holders in different countries to secure the money they hold today. And if it continues, it's likely that a big percentage will be dropped by bitcoins. But we pray that it will not continue. because many people and Altcoins are affected

[Wittycoin]

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.

Its normal that every currency are increasing and suddenly decreasing any cryptocurrency and even fiat money, their value is not steady. There are so many times that bitcoin's price dropped that big but regains it's value again and grow so much bigger, it's normal because it is a currency. Don't let your emotions dictate what to do, don't give up your bitcoin that easy it's value will grow again soon. Be positive and trust bitcoin.

[DoublerHunter]

Don't worry if there is a dump in bitcoin because that is pretty normal for this kind of currency or investment that we are dealing and for me it is not a bad thing if there is a dump because it is another opportunity for me to buy back because i always sell bitcoin when the price was higher than my bought price and buy back when there is a dump.

[Carmen01]

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.

month by month this is what happening in bitcoin so better to think is to invest now this is the time and dont be nervous this is the cycle of bitcoin here,i only know bitcoin this may only i experience this,this drop is so little only in the month of july this year bitcoin drop by half and im luck that i invest in that time never think negative because the price of bitcoin is volatile if you here in bitcoin no one know the future here so better is do hardwork here like join in campaign,trading and faucet do this all while bitcoin is here