Be ready for more rumors and fud from China

[Chikitita2004]

Reason is simple:

It has been TWICE that china got burnt on BTC, selling as low as $3,900 last weekend, and as low at $4,100 today.
Every time, BTC showed strong resilience and systematically went back up in the $4,400

Lots of Chinese traders lots money, and WILL want to make this money back... spreading FUD and fake news on BTC.

Just be ready... hodl or trade... but it will happen again.

Bitcoin has been proven for years now through it's ups and downs but still gaining it's reputation back. But i hope ethereum will be able to gain back too as it is going down everyday.

[Calangaman]

Investors should get more infos on China and understand why the government is scared of digital currencies.
It leads to capital outflows from the country and speculation.

So there is a high chance that the Chinese exchanges will be shut down temporarily.

At the moment, the only country approving digital currencies is Japan. So investors should consider japanese coins like Monacoin as safer.

[suvo05]

There are many types of rumours related bitcoin every where in the world. But bitcoin has enough potential to come back strong. I am not aware what happen this week?  And china is special for making fake things.( Any product or any news)

[Pursuer]

I am always ready for FUD, I love FUD. it is awesome you see the rise and then FUD comes, and when it does you can buy cheap coins from the gullible people who have no idea what bitcoin is. they deserve it until they stop being gullible and stop listening to the FUD.
and it is not just China FUD, it is all kinds. last month we had the fork/split FUD that caused lots of dips which I perfectly enjoyed.

[Carlsen]

Giving false alarm will only work for a few times.
And the response they get from the market is getting weaker every time.
I am wondering if the market can grow so resistant against bad news from China, that even in a real case it would not react with panic on it anymore.

[hajimasan]

Reason is simple:

It has been TWICE that china got burnt on BTC, selling as low as $3,900 last weekend, and as low at $4,100 today.
Every time, BTC showed strong resilience and systematically went back up in the $4,400

Lots of Chinese traders lots money, and WILL want to make this money back... spreading FUD and fake news on BTC.

Just be ready... hodl or trade... but it will happen again.

Yeah , you are exactly right .
In the recent days or we can say in this week a full news of ICOs ban was popular and also going on discussion but few people made the misleading information in the social media to about the ban of the cryptocurrency with the ban of ICOs .
So here we can understand well about this that what few clever people want to do .
They want that people sell thier btc speedly and the price get down and after that they buy directly and can make easy earnings .
But still here it is our duty to make better discussion and clean discussion where everything should be legit like here and also we should oppose the rumers that are not exactly true that are going viral.
Well here china has the big Market of bitcoin and most of the miners are from china , so we can understand well that how the bitcoin market can effect but here everything is clear in the china about the use of the cryptocurrency , so we don't need to take any tension about the price because originality can never go down

[micher143]

China and its people are manipulating bitcoin. It's the nature of their culture. Secrecy and a few getting rich.

Yet all countries are capable on dealing with Bitcoin , it just the fact that China has the largest population becasue it is the largest country in the world. Hence, the development of Bitcoin still depends on how we people used Bitcoin in terms of transaction , investments and trading.

[stupid_seb]

Giving false alarm will only work for a few times.
And the response they get from the market is getting weaker every time.
I am wondering if the market can grow so resistant against bad news from China, that even in a real case it would not react with panic on it anymore.

I highly doubt it.
You can clearly see a blatant absence of understanding of even the simplest economic or business logic in the forum...
I see more and more entrants (call them noobs if u want): 90% of them dunno shit about business. (10% are interesting).
I try a lot to have educated conversations on threads, putting numbers on the table, at least for discussion: only a few people get it, and the most common answer I get is: "you are an idiot, bc your profile name is stupid_seb"!! This coin to the mooooon!!!"

What can you expect from people who just look at the unitary coin price and don't understand MarketCap!?! :-D

Thus, I still see a strong volatility remaining,, because of the new entrants. As per China, there are a curse (volatility), but a blessing too bc they are one of the only reasons to make the BTC price raise: increasing the inbound money flow in the crypto economy.

Maybe in 2019 the markets will be more mature. Until then, it will remain idiocracy for the most part, hence huge volatility and blind faith in fud and rumors.

[gribble]

The other rumors from China: Multiple Monday reports have added to speculation that Chinese authorities are planning to ban bitcoin trading on domestic exchanges, with no plans to stop non-commercial, over-the-counter transactions.
After Friday’s swirling rumors about Chinese regulators reportedly drawing plans to shut down domestic bitcoin exchanges, the Wall Street Journal is now reporting that China’s central bank is looking to ban Chinese platforms from providing virtual currency trading services. https://t.co/kRAMlNTeXT

[Fundalini]

The other rumors from China: Multiple Monday reports have added to speculation that Chinese authorities are planning to ban bitcoin trading on domestic exchanges, with no plans to stop non-commercial, over-the-counter transactions.
After Friday’s swirling rumors about Chinese regulators reportedly drawing plans to shut down domestic bitcoin exchanges, the Wall Street Journal is now reporting that China’s central bank is looking to ban Chinese platforms from providing virtual currency trading services. https://t.co/kRAMlNTeXT

All china does is spread baseless rumors n' sh*t that it's not even funny anymore. Taking advantage of their political might to sway the market. So much for bitcoin's decentralization huh?

[zulkarnaen]

indeed with rumors circulating in china certainly cause panic to bitcoin users so that not a few of users who sell bitcoin in order to avoid losses caused by rumors significant price reductions.

[illyiller]

The other rumors from China: Multiple Monday reports have added to speculation that Chinese authorities are planning to ban bitcoin trading on domestic exchanges, with no plans to stop non-commercial, over-the-counter transactions.
After Friday’s swirling rumors about Chinese regulators reportedly drawing plans to shut down domestic bitcoin exchanges, the Wall Street Journal is now reporting that China’s central bank is looking to ban Chinese platforms from providing virtual currency trading services. https://t.co/kRAMlNTeXT

All china does is spread baseless rumors n' sh*t that it's not even funny anymore. Taking advantage of their political might to sway the market. So much for bitcoin's decentralization huh?

This has nothing to do with decentralization. This is just the market being a market. The China ban rumors bring uncertainty, and markets hate uncertainty, giving bears an edge. And I think that's what the PBOC wanted--to calm the market down while it mulls over regulations.

But no matter what any government does, it has no bearing on the protocol's decentralization. Panic sellers exist in all markets, whether the asset being traded is decentralized or not.

[valov88]

I liked FUD from china   i think this is the moment to increase amount of bitcoin
take advantage of this situation to buy Bitcoin at cheap prices

Haha, can't help myself but to agree a bit with you. We should exploit the unbelievers who are selling BTCs and buy BTCs at the lower price. This is how one makes quick money ;-)

[romec1701]

Buy the dips people... buy the dips. We will all profit in the end.

[illyiller]

Buy the dips people... buy the dips. We will all profit in the end.

But where's the bottom of the dip? Here, or $1000 further down perhaps?

The current storm of FUD is far more brutal than I first anticipated. Initially, people in the know seemed not to take the rumors of the China exchange prohibition very seriously. But Jihan Wu, on Twitter today, spoke about it almost as if it were already fact.

Then add in the Jamie Dimon assault on Bitcoin...... and we got a real FUD stew going here now. I have some dirty fiat waiting on Coinbase for low $3000s, but I really can't tell yet if we'll even go below $4000. The FUD is so strong, but bears can't push the price down very much.

[orions.belt19]

If youre an open minded person all that happenings on bitcoin and the rumors are all lie.  Dont be fooled by those fudders.
If you believe in bitcoin the best way to do in this time of fud is to hold your bitcoin.

I agree, that's the most safest way if more rumors are to come connected with China and all that. And some are not even affected anymore with these news coming. I myself am getting ready and would still not really mind about these news whether they are true or not, I'd still hold my bitcoins despite the negative news.

We just have to be aware and on the look out for the fake news and rumors out there because it may fool those who believe easily anything they hear. Ever since the news regarding China's ICO ban came out, a lot of other fake news came out along with it. Surely, it has affected some and created some fear and panic for bitcoin users which made them sell it impulsively.

The strong believers of Bitcoin continue to hold it despite news like this keep on spreading, they continue to have strong faith and won't anything discourage them.

[Monnt]

The other rumors from China: Multiple Monday reports have added to speculation that Chinese authorities are planning to ban bitcoin trading on domestic exchanges, with no plans to stop non-commercial, over-the-counter transactions.
After Friday’s swirling rumors about Chinese regulators reportedly drawing plans to shut down domestic bitcoin exchanges, the Wall Street Journal is now reporting that China’s central bank is looking to ban Chinese platforms from providing virtual currency trading services. https://t.co/kRAMlNTeXT

All china does is spread baseless rumors n' sh*t that it's not even funny anymore. Taking advantage of their political might to sway the market. So much for bitcoin's decentralization huh?

This has nothing to do with decentralization. This is just the market being a market. The China ban rumors bring uncertainty, and markets hate uncertainty, giving bears an edge. And I think that's what the PBOC wanted--to calm the market down while it mulls over regulations.

But no matter what any government does, it has no bearing on the protocol's decentralization. Panic sellers exist in all markets, whether the asset being traded is decentralized or not.

Whatever China has done and still doing with the crypto coins' world is something that it is doing for the safety of its economy and national currency, at least this is what the Chinese authorities are saying and it is best to respect their decisions.
Also, bitcoins and other crypto currencies are still managing so it is best to not pay much attention to political games.

[shezu007]

Rumors about bitcoin? We already know that we should remember August people were creating rumors and in the end these rumors got flop and Bitcoin hit 4000USD.

[CraigWrightBTC]

China Internet Finance Association: Bitcoin Exchanges Lack ‘Legal Foundation’
A self-regulatory association in China focused on digital finance has issued a new warning on cryptocurrency trading activities.
In a statement, China’s National Internet Finance Association (NIFA) asserted that cryptocurrencies like bitcoin have become a tool for speculation among investors, while also serving as a payment conduit for illegal fundraising and money laundering. Although a self-regulatory organization and not a regulatory agency itself, NIFA was first initiated in 2015 by the People’s Bank of China and approved by the State Council. https://t.co/f1Hs17Pr3Z

[Rinaze]

This is a necessary trial for BTC and BTC will come out stronger than ever. There will be countless of trials in the future for BTC when the market price movement reach higher and higher!