BITCOIN DUMP - CHINESE ARE OFFLOADING...

[btc_angela]

Turkish exchanges didn't show an immediate act against such news from China. I was expecting a huge drop but apparently most of holders don't wanna sell.

I think there is a dump again because the price is going down to possible $4000 or $3900 again. I think the dump again after some negative news from China started to show up that they are really shutting down their local exchanges in 2-3 months. And then some dude from Federal reserved says that bitcoin is doomed to that effect. I think this triggers another round of panic from investors that's why the price plummeted again after enjoying $4200-$4300 yesterday. Past two weeks was really hell for us. But knowing bitcoin, it has the capacity to recover from all of it so the best thing to do is just hold on your coins.

[vit05]

The last, and biggest, dump before China announcement begins now.

[maokoto]

But... what are the news from china Exactly? Banned ICOs? Banned exchanges? Banned Bitcoin?

if the dump till now is from banned exchanges.... I think there will be yet a greater dump. Too many chinese, and too much panic that would produce.

[ft73]

But... what are the news from china Exactly? Banned ICOs? Banned exchanges? Banned Bitcoin?

if the dump till now is from banned exchanges.... I think there will be yet a greater dump. Too many chinese, and too much panic that would produce.

News have yet to come.
Correction as well.

[adam1230]

I am not sure if chinese ban is real. Do you guys have a goverment announcement for chinese exchanges being banned ?
Or any regulation announcements from goverment?
If these are just rumors someones gonna make huge profits.

[lilRoy07]

3 more newbies on LBC selling large amounts. FUDGE ME. Gone.

[stompix]

I've picked up some extra BTC over the last couple of days, in my hometown there was a local seller on LBC - a chinese man. He said he had to dump all his coins within the next couple of days and offered me 45 BTC for $150k. I don't have 150k laying around, but i picked up 3 for 10k

he said his friends had hundreds of BTC if i was interested.

Is a monster dump on the way?

tx or it didn't happen

Why do you need transaction ID? there is no way to know if he's telling the truth, even with a TXID you don't know if it's really from him or not.
OP I know there is a monster dumb of a people coming, there are many people with thousands of Bitcoins and they will eventually sell, Chinese now are facked so they need to sell their coins.

Because he is a fudder and a stupid one and probably cause there are no 3.00000 btc transactions to fit his story ).
Of course the normal way to verify this  would be to ask him to sign a message with the newly acquired 3 btc coins.
Not going to happen.

But to rest of you.....
Why would you trust a newbie account applying all over the place for signature campaigns that he had 10k $ in cash to buy BTC. It just doesn't sound right to me, no matter how you look at it.

If your story is real, maybe its because the china government ban ICOs and ban local exchanges so that chinese man sell all his bitcoins and his friends too, i don't know though but it's obvious and your account is a newbie which is hard to believe. Like other people here, Show proofs or it didn't happen.

Again it makes no sense.
The guy is not in China. He can use western exchanges, he can receive coins from China and he can exchange them here.
No need to waste money and making discounts to 3333$/btc. That's idiotic.

[marky89]

I am not sure if chinese ban is real. Do you guys have a goverment announcement for chinese exchanges being banned ?
Or any regulation announcements from goverment?
If these are just rumors someones gonna make huge profits.

Everything is still just rumor. But I am becoming more concerned that the rumors are real. Charlie Lee (Litecoin creator, Coinbase) really took the wind out of my sails this morning. He said that he received reliable info from a source that he trusts in China that the exchange ban is true. It's certainly not the same as directives issued by the government, but it sure makes things feel ominous. Jihan Wu also tweeted today, suggesting that the exchange ban is imminent.

We've obviously been dropping on this news for many days now. A solid 20+ % lost from the top. When can we consider this priced in? Or are we just going back to $3600 and beyond, bull market cancelled?

[centralbanksequalsbombs]

3 more newbies on LBC selling large amounts. FUDGE ME. Gone.

LOL - lilRoy07: Why do you persist with your lies in front of everyone here?

2nd market non exchange china trades can easily be seen at localbitcions for trades asks/bids in CNY via various methods (ie inperson, bank transfer, other options, etc).

As of right now, any reviewed sellers offers BTC going for:
25935 Chinese Yuan which equals 3971.30 US Dollar

lilRoy07, silence the noises in your head, breathe, and move beyond, enlighten yourself be useful and expand your education, work outdoors, spend time helping others, or spend time in prayer.

[lilRoy07]

3 more newbies on LBC selling large amounts. FUDGE ME. Gone.

Why do you persist with your lies in front of everyone here?

What lies?

The evidence is already in the DIP. I don't go around spreading rubbish.

[alyssa85]

3 more newbies on LBC selling large amounts. FUDGE ME. Gone.

Your account is newish too, just saying 

I think OP had a genuine point - it doesn't matter if this thing is real or not, Chinese people believe it because they have experience of their govt arbitarily banning things, and they can't do anything about it there is no senator or representative to write angry letters to. So they are the ones selling and selling hard, like the chap in LBC offloading coins.

Just wait patiently, people. Once they have offloaded their coins, then the price will rise again. I think the Chinese are less than 10% of the total bitcoin market.

[lobo13hf]

But... what are the news from china Exactly? Banned ICOs? Banned exchanges? Banned Bitcoin?

if the dump till now is from banned exchanges.... I think there will be yet a greater dump. Too many chinese, and too much panic that would produce.

News have yet to come.
Correction as well.

nah im pretty confused the reason behind these dumps if the china hasn't yet announced the news. they have some sort of special agent or what. china aren't banning bitcoin but just banning the existence of ICO
bitcoin users will be fine there and will always be as long as they obey the rules and pay taxes. pretty curious why people are so weak that they can easily dump their bitcoin at such cheap price. LOL

[ragnar0k]

nah im pretty confused the reason behind these dumps if the china hasn't yet announced the news. they have some sort of special agent or what. china aren't banning bitcoin but just banning the existence of ICO
bitcoin users will be fine there and will always be as long as they obey the rules and pay taxes. pretty curious why people are so weak that they can easily dump their bitcoin at such cheap price. LOL

I think the market wants to move on without China, it is effectively 'dumping' the Chinese market %. Will be fun to see what happens once the coins start to get rare, should use these fluctuations to buy while we can, but not sure where this dump will end...

[Sukovsky]

If China really bans exchanges you can throw all TA overboard. I wouldn't be surprised at 3 digits.

[Denker]

If China really bans exchanges you can throw all TA overboard. I wouldn't be surprised at 3 digits.

All 3 chinese exchanges will do business from HongKong or some other place in asia. Furthermore p2p market will go through the roof.
And when we can China leave behind us this will be bullish as fuck.
3 digits is delusional! Not gonna happen! Keep dreaming or hoping for your Vinnycandle! 

[alyssa85]

If China really bans exchanges you can throw all TA overboard. I wouldn't be surprised at 3 digits.

I wouldn't go that far. They're a small part of the total market - most of the trading takes place in the west. I think people would like China to continue to participate in the great bitcoin experiment, they have stars in their eyes about 1 billion people etc. The reality is most chinese don't participate and they are behind a firewall anyway.

The rise up to $4800 was driven by the west. It went too fast, we'll see a correction on the back of this "news", and then it will resume it's upward movement in a few months.

[1Referee]

If China really bans exchanges you can throw all TA overboard. I wouldn't be surprised at 3 digits.

You grant China far too many credits than they are worth. China is no longer the major player in the Asian crypto market, and that's a hard fact. I see absolutely no reason for the price to tank back to sub $1000 levels, even with China actually shutting down all exchanges. People need to calm down and wait for things to get confirmed, and as long as that isn't the case, people are just feeding whales with cheap coins. Other than that, this what we are experiencing in the last days, is part of a very normal correction - one that was looming for quite a while. At the end of the day, it doesn't really matter whether it's the correction taking the market down, or this fud, the price would go down anyway.

[fabiorem]

If someone is selling, some other is buying. So bitcoin will not die because of China.

We are in a bear market and the bottom is $2400. China have the biggest population in the world, hence the dump will be severe.

[ragnar0k]

I wouldn't go that far. They're a small part of the total market - most of the trading takes place in the west. I think people would like China to continue to participate in the great bitcoin experiment, they have stars in their eyes about 1 billion people etc. The reality is most chinese don't participate and they are behind a firewall anyway.

The rise up to $4800 was driven by the west. It went too fast, we'll see a correction on the back of this "news", and then it will resume it's upward movement in a few months.

https://bitcoinwisdom.com/ says to me they have more than 50% the volume, not so small

[alyssa85]

I wouldn't go that far. They're a small part of the total market - most of the trading takes place in the west. I think people would like China to continue to participate in the great bitcoin experiment, they have stars in their eyes about 1 billion people etc. The reality is most chinese don't participate and they are behind a firewall anyway.

The rise up to $4800 was driven by the west. It went too fast, we'll see a correction on the back of this "news", and then it will resume it's upward movement in a few months.

https://bitcoinwisdom.com/ says to me they have more than 50% the volume, not so small

Coinmarketcap says otherwise:

https://coinmarketcap.com/exchanges/volume/24-hour/

Looking at exchanges with fees

#1 is Bitfinex, which is Hong Kong based and exempt from the China rules (as it is subject to HongKong Sar rules)

#2 is Bithumb which is Korean

#3 is Bittrex which is American

#4 is Poloniex which is American

#5 is OKCoin - this one IS Chinese

#6 is GDAX which is American

#7 is Kraken which is American

#8 is Huobi which is Chinese

#9 is Coinone which is Korean

#10 is Bitstamp which is European

#11 is Gemini which is American

#12 is HitBTC which is European

#13 is CHBTC which is Chinese

#14 is Korbit which is Korean

#15 is BTCC which is Chinese


So the Chinese exchanges are lower down the list and definitely total way less than 50% of trading.