Storm is coming - big one?

[uslfd]

Binance has banned Chinese IP address from trading on their platform.
https://www.cryptocoinsnews.com/ico-ban-bitcoin-exchange-binance-restricts-chinese-access/ 
For those of you who do not know binance, it was originally launched to target the Chinese audience and had a very high NEO trading volume before ICO was banned in China.
Right now Chinese BTC holders are liquidating their portfolio in the fastest pace ever, price differential between Chinese and non Chinese exchanges is reaching more than 15%.
BTC will most likely tank when Monday people are back to their computers and start looking at news.


Binance move has also most likely signalled an eventual release of Chinese confirmed news of banning online BTC chinese exchange.
Watch out everyone.
Stay safe!

[Fortify]

Was "Binance" the main trading forum for Chinese cryptocurrency traders? It could be a case of Chinese authorities cracking down on a message board outside of their control, so somebody within China could capitalize on the income rather than changes to the law.

[uslfd]

Was "Binance" the main trading forum for Chinese cryptocurrency traders? It could be a case of Chinese authorities cracking down on a message board outside of their control, so somebody within China could capitalize on the income rather than changes to the law.

Binance is an actual exchange, a legitimate BTC platform business.
I have used them until yesetdray when I have sold all my binance coins.

[amaral1977]

China is a very big player and as everyone knows there is a lot of "new" money in BTC and crypto space. in the bigining of the year we saw BTC breaking 1000$. So for now there could be a lot of week hands dumping on china news. Maybe a good buy oportunity?

[uslfd]

China is a very big player and as everyone knows there is a lot of "new" money in BTC and crypto space. in the bigining of the year we saw BTC breaking 1000$. So for now there could be a lot of week hands dumping on china news. Maybe a good buy oportunity?

But if normal chinese citizens are banned from buying bitcoin through online exchange, it will be an extremely bad news in the short term at least.

[eaLiTy]

Binance has banned Chinese IP address from trading on their platform.

For those of you who do not know binance, it was originally launched to target the Chinese audience and had a very high NEO trading volume before ICO was banned in China.
Right now Chinese BTC holders are liquidating their portfolio in the fastest pace ever, price differential between Chinese and non Chinese exchanges is reaching more than 15%.
BTC will most likely tank when Monday people are back to their computers and start looking at news.


Binance move has also most likely signalled an eventual release of Chinese confirmed news of banning online BTC chinese exchange.
Watch out everyone.
Stay safe!

If you think that bitcoin is a crypto currency traded majority by a single nation and the recent price rise is not from any factors from the Chinese market and you still think that a ban could tank the price of bitcoin which is highly unlikely but what will be the expected price you feel like it might go down,then we could discuss further regarding the long term effects of this ban.

[psiksenz]

I think they are just taking measures to protect themselves.  Who knows what news will come out of China next? I think there will be more negative news.  As we have seen in the past, China can affect the price of Bitcoin in a big way, but it's only a temporary thing.  Cryptocurrencies are around for good now in one form or another.  Just make sure we don't let the "FEDcoin" take over :p

[Lagduf]

Binance has banned Chinese IP address from trading on their platform.
https://www.cryptocoinsnews.com/ico-ban-bitcoin-exchange-binance-restricts-chinese-access/ 
For those of you who do not know binance, it was originally launched to target the Chinese audience and had a very high NEO trading volume before ICO was banned in China.
Right now Chinese BTC holders are liquidating their portfolio in the fastest pace ever, price differential between Chinese and non Chinese exchanges is reaching more than 15%.
BTC will most likely tank when Monday people are back to their computers and start looking at news.


Binance move has also most likely signalled an eventual release of Chinese confirmed news of banning online BTC chinese exchange.
Watch out everyone.
Stay safe!

But i don't sure the chinese will try to avoid by trade in crypto currency, Because like what was happened with the US citizen and they are trying to bypass the ban ip through use the 3rd partt software such as socks 5 and something like that.

[uslfd]

Binance has banned Chinese IP address from trading on their platform.

For those of you who do not know binance, it was originally launched to target the Chinese audience and had a very high NEO trading volume before ICO was banned in China.
Right now Chinese BTC holders are liquidating their portfolio in the fastest pace ever, price differential between Chinese and non Chinese exchanges is reaching more than 15%.
BTC will most likely tank when Monday people are back to their computers and start looking at news.


Binance move has also most likely signalled an eventual release of Chinese confirmed news of banning online BTC chinese exchange.
Watch out everyone.
Stay safe!

If you think that bitcoin is a crypto currency traded majority by a single nation and the recent price rise is not from any factors from the Chinese market and you still think that a ban could tank the price of bitcoin which is highly unlikely but what will be the expected price you feel like it might go down,then we could discuss further regarding the long term effects of this ban.

Well, I think the argument is, supply and price is not linearly related. 10% supply dump can cause 50% price drop. Hence the question is, what is the effect in the short term to short medium term.

In the long term, of course I believe we all think it is going to rise to higher than $4K, otherwise I guess we won't be here? That's biased sampling.

[uslfd]

Guys, my opinion is, don't buy and don't hold anymore.
IT's a falling knife and a correction trend is confirmed.
Stay safe!!

[VanDeinsberg12]

just small storm, people and the bitcoin users will get used to it. the chinese themselves doesn't ban bitcoin so they can just keep their activity on their locals or else, buy a vpn to access foreigh exchanges.
just a normal thing to happen though, the exchange above maybe don't want to take a risk by allowing chinese people to trade there. just to make sure.

[eastwind_ja]

there are many different rumors  these day in china,  the old  BTC  holders  are not afraid of this ,  they can trading on exchange  out of  china. not a big deal

[Obytwenty]

oh ! Great whales have really function here to collected BTC  in cheaper price    

[MiXxe]

there are many different rumors  these day in china,  the old  BTC  holders  are not afraid of this ,  they can trading on exchange  out of  china. not a big deal

Exactly this is a kind of false belief spreading all the FuD to make bitcoins dump as the main reason of doing all of this. Im slightly new a months ago but i learn trading and by some researching and reading This is all a nonsense thing and trying to push people to sell their bitcoins.

[alva5763]

Binance has stopped Chinese trading. That is not the same as Chinese government blocking.  Bitcoin is still above the $4000 level. Perhaps it will maintain this for a while. Can Chinese investors not use other exchange.

[Baofeng]

Binance has stopped Chinese trading. That is not the same as Chinese government blocking.  Bitcoin is still above the $4000 level. Perhaps it will maintain this for a while. Can Chinese investors not use other exchange.

On the contrary, on a average from different trading platforms, bitcoin is trading at $38xx so the dumping of the Chinese still continues. I believed that we are in the eye of the storm currency, but as I see it we can withstand this storm and this is just temporary. Once this storm has left we can see the sun once again. I don't know if Chinese traders can go outside of China to trade. Maybe they can use VPN to get away with the i.p. address issue. But for us non-Chinese, this is a perfect time to buy cheap bitcoins. So let's hodl and not panic but preferably get bitcoin now while its price is low.

[uslfd]

Well, chinese news or not. Bitcoin has shown tiredness climbing from 4300 to 4900 from a technical analysis perspective.
Of course, again, we all believe in the very long term BTC will be higher than today. but buying from 3000 or 4000 makes quite a bit of difference.

[DIYOR]

The thing is that Binance had over 80% of users from western world even when it hasn't blocked Chinese IP, so the fact that Binance banned chinese folks has little to do with BTC going down.
BTC is being overbought for a while now, so that is healthy correction. Nothing can go parabolic without corrections

[newestuser1]

Is this ban news a real confirmed. I read everywhere its not. Chinese are easy scared and like to do what another do. Its a snowball effect. Selling in panic will makes the price down. That what we have now.

It will be very windy but I mean not a big storm.

[Lanatsa]

Binance has stopped Chinese trading. That is not the same as Chinese government blocking.  Bitcoin is still above the $4000 level. Perhaps it will maintain this for a while. Can Chinese investors not use other exchange.

We are dropping as of now and it seems panic selling is really happening.It is just like a domino effect just been said above.Rumors or news do crawl and tense do pass up on investors specially on Chinese.
I cant see a Storm though because prices would eventually goes back to rise again for sure.I do only treat this as a normal thing which price do make corrections because of such news.