Chinese ban bitcoin news is 100% pure bullshit

[BitcoinNewsMagazine]

Hypothetically lets say the news was true. What is the price floor? $3600?

If we get panic selling the weekly 20 MA and previous swing high may provide support at $2800 - $3000

[BitMaxz]

I just found another twit from cnledger here you can look at this ..
https://twitter.com/cnLedger/status/906195967908601856
And i think every news  we heard right now are almost fake.. just like what twitter reply that the news are fake..
If you sell right now you will be regret .. so keep holding bitcoin is good thing to keep calm the movement of the price.. and i think there are traders are keep buying large amount of bitcoin right now in the market. .

[bitcoindusts]

This is funny.  See how some people getting desperate to acquire Bitcoin.  They even spread a wrong infromation and news regarding exchanges and bitcoin status in China.  This sure means that Bitcoin will be going very big in the next months to come.  They are playing dirty now  trying to shake weak hands and even stronger one but I guess they will fail badly.

[hase0278]

all Chinese exchanges are working fine and even their official announcements are coming out saying there is nothing going on over there in China.

here is an example from BTCC (a Chinese exchange and mining pool):

BTCChina Exchange is operating normally, and has not received any new directives from Chinese regulators. We'll keep you updated.

now go ahead and continue giving your coins to whales...

Let them be because FUD is a common thing in bitcoin and those who buys always try to manipulate price for their own profit specially whales. If there is something that we can do it is to not believe them and hold. We can't do something about it if others will believe their lies. Either way it is a good opportunity to buy some bitcoin after all, this FUD is making it cheaper.

[cashodler]

Coindesk points out Caixin's source predicted the ICO ban two days in advance: https://www.coindesk.com/report-casts-doubt-future-chinas-bitcoin-exchanges/

Now Bitcoin...

[CyberKuro]

If it just a rumor, than nothing to worry. But, can you get the message? Chinese people and miners hold big portion of bitcoin, if China govs ban bitcoin, its price will be crash to $3000 I guess. On the other hand, we will be happy because there are more cheaper coins in circulation waiting to be purchased.
But, this is seems like a fake news obviously.

[afbitcoins]

Can't someone think of better FUD, I'm totally bored of the China one   

[gentlemand]

Can't someone think of better FUD, I'm totally bored of the China one   

Russia's been trying very hard for a very long time, but they're pathetically amateurish in comparison and shot their bolt far too early.

[p0peji]

Check BtcChina Twitter, they confirm that they have halted trading. nvm seems that someone was pulling a prank.

[error08]

This is an opportunity to buy bitcoin, I prefer to wait until bitcoin fall to the bottom and then buy more cheaper bitcoin.
If you want to risk your bitcoin, go ahead to sell it right now, it's your call but you may regret it if this ban news only FUD.
However, bitcoin price always fluctuate, it just another normal day in bitcoin market.

[gentlemand]

http://www.pbc.gov.cn/english/130721/3377816/index.html

All ICO, no BTC or ETH or anything equally harmless.

So far...

[magneto]

Markets have indeed overreacted in my opinion.

This isn't verified news by any means. The actual exchanges themselves have said that they haven't heard of anything from the regulators, or even a hint of anything bad to come. No exchanges have ceased to exist because of this so called report.

Most likely to be BS, but there is a chance that it is true. But then again, this shouldn't come as a surprise to anyone. China is historically strict on bitcoin, and most people have moved to p2p anyways.

[n0ne]

ICO ban was implemented and the same has caused a fluctuation in the price. Few day back too there was a price fluctuation and people panicked of the sudden drop in price which recovered in a short. Now once again a big drop has taken place, but this keeps fluctuating without moving down beyond certain limit of price which seems to be around $4350.

[janedt]

all Chinese exchanges are working fine and even their official announcements are coming out saying there is nothing going on over there in China.

here is an example from BTCC (a Chinese exchange and mining pool):

BTCChina Exchange is operating normally, and has not received any new directives from Chinese regulators. We'll keep you updated.

now go ahead and continue giving your coins to whales...

But you know, that is really effective. I mean, the price of bitcoin fall again today especially on bitcoin China exchanges, the price fall so hard on that sites. I actually don't know is that news is real or not but i'm sure the price of bitcoin will back to the top again soon. I thought China only ban ICOs.

[cashodler]

I wouldnt be that sure that the news are fake. They are likely to be true, but we'll se on Monday.

[lottery248]

but china is the largest miner in most of the notable cryptocurrency network! if the bitcoin is actually banned from china, bitcoin would be losing a lot even if other countries help them. i understand that op claiming the bitcoin ban from china is bullshit, but this rumour is killing the price of bitcoin, might be a trap again.

[hello_good_sir]

We can't really tell right now whether or not news is bullshit. The chances are probably close to 50/50 but i'm leaning towards BS here. If the government was to shut down the exchanges then they would have definitely warned the exchanges beforehand.

But the on the other hand, everyone's covering it. I don't know whether it's just that they are stupid to not check the source, but this source seems somewhat trusted.

Anyways, the price has recovered from $4100 to $4200 now. I think we might see btc dip below $4000 before bouncing back up.

[jtipt]

Hypothetically lets say the news was true. What is the price floor? $3600?

More like $3800-$4000. There is too much FUD, I don't get it how people fall for this FUD and start panic selling. Whether the news is true or not, it's not gonna affect the price too much as we can see.

[Money Maker Shaker]

i am getting the popcorn ready...

this is becoming interesting. someone spread some FUD and it became big and now everyone is running around in circles

[orions.belt19]

There is too much FUD coming out of China these days,  because of the ban on ICOs. China is huge for bitcoin and mining, and I doubt they will ban bitcoin news and updates outright. I see the price taking a hit due to fake news.

I agree there has been too much hype over the China ICO ban these days that people misunderstand and mistaken it for a total bitcoin or cryptocurrency ban when in fact, China recognizes bitcoin as legal. They have simply restricted and declared ICOs banned, but not bitcoin itself. I think that Bitcoin is pretty strong in China and there are chinamen who invested on bitcoin, so it is not possible to have a ban.

If its true that the price has been drastically affected because of this news, the price now is slowly starting to recover.