Bitcoin Is Falling Down?

[iamTom123]

Bitcoin is falling down...falling down...falling down...where is my fair lady? Whoah...Bitcoin is having a carnage right after undergoing some bloodbath for some days last week. This time around it officially entered the area below the $4,000 mark and can get down to as low as $3,500 soon.

I am not really sure what can be the catalysts for this fast dumping but I think it has something to do with the rumor that eventually China will also be banning the operation of Bitcoin exchanges all over the country. As many parts of the world are battered by many natural disasters, Bitcoin is being massacred by bad news emitted by China.

How do you feel about this downturn?

[mk4]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

[hase0278]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

You are right that the banning of ICO's did a significant amount of drop in price and also the possible banning of bitcoin exchanges on China all over the world created this panic and I expect to see FUD lovers like kwukduck showing up posting about bitcoin's doomsday. Either way I see bitcoin going way down more since the dump probably is just getting started. Therefore, I expect to see bitcoin's market being bearish for the rest of this month but I would also like to see the opposite if it were to happen.

[tokeweed]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

That's so LOL by Charlie Lee.  For a guy who has been in crypto a lot longer than most of us, and a founder of one of the most popular alts at that, he still acts like your average trolling Bitcoiner.  I love it! 

Anyway, maybe Charlie heard some solid info from his brother regarding China's ban?

[vit05]

I think exchanges in China are trying to hold the 4k because they will not have the money if people decided cashed out. There is some rumour that people are facing difficulties to take the money.

[maku]

How do you feel about this downturn?

Don't worry about this, it's only a temporary issue caused by random events and FUD from scaremongers.
Ther problem with China banning ICOs and the panic that followed is nothing to worry about.
This new lower price will simply create new floor and great entry point for new investors to join the hype train.

[Herbert2020]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

That's so LOL by Charlie Lee.  For a guy who has been in crypto a lot longer than most of us, and a founder of one of the most popular alts at that, he still acts like your average trolling Bitcoiner.  I love it! 

Anyway, maybe Charlie heard some solid info from his brother regarding China's ban?

some time ago i would have been mad about people spreading FUD but now i say why not!
when there are panic sellers around who will be providing you with easy profit just because they are idiots, why not take advantage of them. we should milk them dry until they either leave this market or stop giving us milk

[mk4]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

That's so LOL by Charlie Lee.  For a guy who has been in crypto a lot longer than most of us, and a founder of one of the most popular alts at that, he still acts like your average trolling Bitcoiner.  I love it! 

Anyway, maybe Charlie heard some solid info from his brother regarding China's ban?

Yea, he seems to like bashing and trashtalking other altcoins real hard on Twitter.

On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.

[player514]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

This drop definitely has to do with the whole China news going down. I suspect that a lot of people see this and think about how big of a player China is in the bitcoin game, so when they see the news about China "banning" bitcoin, they start selling in fear. The drop will be rebounded in my opinion, and I don't think bitcoin will fall below 3,500. I can't be too sure of that though, we just need to hope that the bad news is followed up with some good.

[boyptc]

On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.

We don't know with his "trusted source" who knows? Maybe it's real or maybe it's not and he's just confident on what he says. It's really giving a lot of holders decide to sell what they hold now.  I hope it won't go down at $3,500 and it's just going to be at $3,900 and will stay there. I'm going somewhere now and I hope when I come back home it will be good at $4,000 again.

[player514]

On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.

We don't know with his "trusted source" who knows? Maybe it's real or maybe it's not and he's just confident on what he says. It's really giving a lot of holders decide to sell what they hold now.  I hope it won't go down at $3,500 and it's just going to be at $3,900 and will stay there. I'm going somewhere now and I hope when I come back home it will be good at $4,000 again.

I personally feel like it'll take Bitcoin some time to rebound back to the $4,000s because of how linked China and Bitcoin are. The impact that this news has had on Bitcoin so far is what made it turn around from the upward trend when we were close to $5000. Just looking at data, there's gotta be a rebound from the downfall, but I don't think it'll take us back to where we were initially, at least not in short term. This whole China situation may actually even stabilize out Bitcoin's volatility slightly, we'll have to see.

[Psalms23]

I dont' mind bitcoin falling down. I would even invest more while bitcoin is down and the other altcoins. I think it's the perfect opportunity and its best to exploit and invest in cryptocurrency while it is weak.. Given 2 months or more and it will be soaring high again. There are events like this in the past bitcoin dropping down but look at it now, still more than $3500. Go at it while its more affordable.

[bitcoin31]

Lat few hours the price of bitcoin is 4100 dollars but if you see the price this time its down at 3990 dollars. So if you want to buy butcoin youcan and for sure after few months of holding you can earn a lot of profit. But remember invest only you can afford to lose because we dont know what exact price of bitcoin. More bitcoin that you have more money or profit to come with you. I think this the effect of china ban bitcoin but dont worry it will recover again .

[NeuroticFish]

Probably because of China possibly banning exchanges soon

BTCChina is well and trading. While that's working, I think that is only just a new market manipulation.
Now Bitcoin will fall, some will buy, then it will grow again so they can sell, then the SegWit2x story will make Bitcoin fall again so they can buy again.
These fluctuations make some people very rich and some kids lose their lunch money.

[boyptc]

On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.

We don't know with his "trusted source" who knows? Maybe it's real or maybe it's not and he's just confident on what he says. It's really giving a lot of holders decide to sell what they hold now.  I hope it won't go down at $3,500 and it's just going to be at $3,900 and will stay there. I'm going somewhere now and I hope when I come back home it will be good at $4,000 again.

I personally feel like it'll take Bitcoin some time to rebound back to the $4,000s because of how linked China and Bitcoin are. The impact that this news has had on Bitcoin so far is what made it turn around from the upward trend when we were close to $5000. Just looking at data, there's gotta be a rebound from the downfall, but I don't think it'll take us back to where we were initially, at least not in short term. This whole China situation may actually even stabilize out Bitcoin's volatility slightly, we'll have to see.

It's bouncing back and as seen in preev.com it's now $4,020. I'm guessing that we will see the same thing on what happened after China declared the banning of ICO's. And now it's the exchanges, so these two has an impact but bitcoin is just stronger than before and it's bouncing back again.
P.S: I'm still at home.

[Carlsen]

Bitcoin is moving around 4K at the moment.
In general I would like to mention that all this fear about the falling price is complaining on a very high level.
Look six weeks back, we were at about 3K that time. And now we have all this fear and complaining when we are at 4K.
I can't shake the feeling that people are expecting a little too much form bitcoin.

[nelmari]

I personally don't feel anything, bitcoin had been fluctuating ever since so what difference does it make now that it had drop down its value again? As usual after the price drops it'll recover after so I'm not that worried though.

[denny27]

Bitcoin can still be said to survive in the figure $4000 and in my opinion will not be far from that number. It seems that price movements are actually getting down but i'm sure bitcoin price will increasing again and will not drop to $3500. Don't let this decline breaking a spirit to get profits from bitcoin, it's good we can take advantage in any conditions to having plans gain profits.

[kwukduck]

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

You are right that the banning of ICO's did a significant amount of drop in price and also the possible banning of bitcoin exchanges on China all over the world created this panic and I expect to see FUD lovers like kwukduck showing up posting about bitcoin's doomsday. Either way I see bitcoin going way down more since the dump probably is just getting started. Therefore, I expect to see bitcoin's market being bearish for the rest of this month but I would also like to see the opposite if it were to happen.

Yea, remember all that FUD i was warning people about Core coin crashing hard, that was all nonsense.
It's not crashing at all!
It's still going up up up as you can clearly see on the charts. LOL
I'll just eat popcorn now and watch y'all lose money.

[Yuuto]

Bitcoin is falling down...falling down...falling down...where is my fair lady? Whoah...Bitcoin is having a carnage right after undergoing some bloodbath for some days last week. This time around it officially entered the area below the $4,000 mark and can get down to as low as $3,500 soon.

I am not really sure what can be the catalysts for this fast dumping but I think it has something to do with the rumor that eventually China will also be banning the operation of Bitcoin exchanges all over the country. As many parts of the world are battered by many natural disasters, Bitcoin is being massacred by bad news emitted by China.

How do you feel about this downturn?

A big part of the reasons why bitcoin is dropping right now is because of the fact that some person that has nothing to do with bitcoin said publicly that he thinks bitcoin is a fraud and will collapse soon. It may be a bubble and collapse soon, but BTC itself is not a fraud by any means.

This plus the recent China FUD seemed to have a very negative effect on the price.

I think that short term wise once the FUD clears away we could see a recovery, and potentially $5000+ levels. Great time to buy in now.