China and bitcoin price !

[ah1000]

hi guys
so did china block exchanges or its just another fake news ??
if yes so what you think about bitcoin prices UP or DOWN ?

[OmegaStarScream]

hi guys
so did china block exchanges or its just another fake news ??
if yes so what you think about bitcoin prices UP or DOWN ?

It's fake news, apparently some people want to spread panic just to buy cheaper coins as they saw the impact of news (such as China banning ICO) on the price. The exchanges confirmed that everything is working perfectly and you can see here: https://coinmarketcap.com/exchanges/volume/24-hour/ (If you see no trading volume or the last update wasn't recent, It means they are not functional)

[ah1000]

ty man so lets just hold altcoins and wait :DDDD

[greeklogos]

Trust worthy people, such as well known Bloomberg, are saying that banning officially happened, but meanwhile Chinese exchangers keep working. So I'm a little bit confused. But the price is falling down, it says too me that people are shaking off their founds.

[CyberKuro]

ty man so lets just hold altcoins and wait :DDDD

Lol , which coins did you bought?
When China ban ICO, they have some good reasons to protecct their citizens from scammers personate as ICO.
But some people spread FUD about china will ban exchanges or ban bitcoin, they intend intended to shakedown the market, hopefully many weakhands will sell off. But, it's a good time to purchase more cheaper bitcoin and altcoins obviously, but the time to sell altcoins will be shortly due to massive sell always happen for altcoins, be prepared.

[Denker]

hi guys
so did china block exchanges or its just another fake news ??
if yes so what you think about bitcoin prices UP or DOWN ?

So far no exchange got blocked, closed and Bitcoin is not banned.
It looks like it was some fabricated FUD so far.
None of the chinese exchanges got any informations by regulators to close their doors.
And even if they would forbid trading BTC/CNY, BTC/USD pairs, the 3 big chinese exchanges also have offshore companies.And OTC trading would go through the roof!
Right now the issue seems mostly to be with ICOs. The chinese BTC market also went up again 8.5% today!
IF this was indeed just FUD, I guess we may be able to find that out the next few days somehow. Bitcoin showed some incredible strength, especially after that WSJ, FT, businessinsider and Forbes published the same stuff today as well. Spreading rumors without naming any source. That's fake news to me!

[LFC_Bitcoin]

Fake news - Most likely those in high places who hold many bitcoin's trying & often succeeding to control the market for their own benefit. I don't know why people fall for it & sell.

[alyssa85]

Don't know. WSJ is reporting on it today, and they usually try to double check with their own independent sources. Here is the article:

https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862

[richardsNY]

I don't know why people fall for it & sell.

Because they are short term gamblers risking money that they can't afford to lose -- these people are mostly the last to enter the ship (buy high), but the first to leave the ship (sell low). I personally don't really mind seeing the market take few steps back, because for a lot people it is a welcome buying opportunity. Other than that, I am quite sure that after a while no one talks about this anymore, and then the focus on the November hard fork event starts taking over. People here with their moods are equally as volatile as the market is, and that is a fact.

[kwukduck]

Some of the news is fake, however China IS cracking down on crypto, we just don't know how badly yet.

What is worse is the new attack vulnerability of bitcoin that was exposed today for which there is no fix.
This will likely trigger a serious downward spiral as investors no longer have a guarantee that their coins are safe.

[Zuilhsa]

We can't conclude that either bitcoin is banned in China or not. Till now it is reported that the Chinese exchanges has got no official information, one way bitcoin prices have gone low making people panic neither to buy or sell, can't able to guess anything hardly looks like a fake news.