China is playing us

[btctuxedo]

And why would China want the value of Bitcoin to go down? Chinese mining pools control more than 70% of the Bitcoin network's collective hashrate.

[Kenny001]

China can walk away and never come back. Store ur $ in good coins and in the long run u are safe. Did anyone see Unobtanium? It keeps slowly rising, even during a crash.

[dineshary]

America is waking up.. gonna be massive today

[nadrojcote]

I was a bit drunk when I posted this last night. What I was trying to say is that I am seeing a pattern.

Every evening I see the price of bitcoin and altcoins dropping. Incidentally right as the Chinese are waking up. So I'm guessing they're getting scared by the news that's released and selling.

Then throughout the day we slowly drive the price back up. Some people get in cheap while others who buy in the evening before China starts to dump again get screwed.
Rinse and repeat.

[bananadines]

I dont unterstand the people, that sell their Bitcoin long term investments while this FUD. I mean China is just going crazy again, bitcoin is not going to die, just because a small exchange in China is closed at end of september. Remember all the FUD from China in the past. Everytime we dumped hard, we gone up massive after that FUD!
So hold on guys

[MiBambino]

China wants the biggest possible piece of the pie. They closed down one of their biggest exchanges, and they banned fundraising through ICO's. It's clear what they want, they want control over the uncontrolable. If it were a different country it wouldn't be the biggest problem, but it's china we're talking about. They're one of the biggest players in this market and chances are we're gonna be in decline for the next couple of months. Smart people know that the future looks bright, but the majority of investors trade with emotion, and they'll sell to minimize their losses

[MiBambino]

I dont unterstand the people, that sell their Bitcoin long term investments while this FUD. I mean China is just going crazy again, bitcoin is not going to die, just because a small exchange in China is closed at end of september. Remember all the FUD from China in the past. Everytime we dumped hard, we gone up massive after that FUD!
So hold on guys

The future looks bright, but the upcoming months don't. Don't forget that the vast majority of traders invest with emotion, not with strategy. I'm not selling, in fact I'm buying, but most people sell to minimize their losses

[Haryford]

America is waking up.. gonna be massive today

The price of bitcoin is dropping 9% at the moment. It seems the Chinese are going to close their exchanges.

[adsdas]

America is waking up.. gonna be massive today

The price of bitcoin is dropping 9% at the moment. It seems the Chinese are going to close their exchanges.

some exchange has confirm they will close by the end of September. BTCCC exchange if I remember right

[omnik]

And why would China want the value of Bitcoin to go down? Chinese mining pools control more than 70% of the Bitcoin network's collective hashrate.

Some people are saying the china doiesn't ban the bitcoin in there, but in other things some exchange site already announced to close their service in the next period and that makes the scenario looks strange about why china already did it.

[bamboylee]

so basicly:  Theres a bunch of chinese who keeps losing and americans that keeps on raking it in?

I dont see how this is bad in anyway (if you are an american crypto investor)

No it's the other way around. We buy and drive up the price and then when they wake up and see the price is up, they sell. look at the price of bitcoin. It keeps dropping everyday around the same time Chinese get up and start trading.

But you are the one buying the dip, isn't that more beneficial in the future when the price of bitcoin pumps back up. You will have more profit than the Chinese dumping their bitcoins now.

[faithupgrade]

I feel bad for newbie chinese investors, they lose a lot of money from FUD. While most of us are taking advantage by making a short position. Some are buying from the Bitcoin dip. The key from winning in this battle is learning how the crypto market works.

[blacktux88]

i Have found first information that the first china Exchange will stop trading...

https://twitter.com/YourBTCC/status/908285586368167936

I also think thats a way of handle ico perofrmance for them..

thanks tux

[e-coinomist]

Guess what? The news may not even be from China after all... There was no official statement from anyone in China.

Newspaper snapshots on Twitter. The statement from BTCChina seems authoritative.

im personally waiting for it to drop below 3400 before i start buying, do your graph analysis and it seems like it will be not just me saying this either. marketcap and other crypto channels saying same

$ 3400 seems low, there is a resistance at $ 3500 allready building up. Charts cannot move that quick.
Regarding what to buy I'm watching this board, and which coin toppics stay up next days. Seen Monero, Ripple, Waves just now.

[VanDeinsberg12]

I'm meself pretty much tired of these bullshits floating around me, China tbh is definitely playing with us, not saying that china in general but the traders in China, creating panic to take advantage of us and our people with their stupid instinct just blindly believe whats going on, such unfortunate the market has now been affected, nothing we can do.
guys, pls reveal how to stop these bulshit so that it's not going around in my head.

[nadrojcote]

Guess what? The news may not even be from China after all... There was no official statement from anyone in China.

Newspaper snapshots on Twitter. The statement from BTCChina seems authoritative.

im personally waiting for it to drop below 3400 before i start buying, do your graph analysis and it seems like it will be not just me saying this either. marketcap and other crypto channels saying same

$ 3400 seems low, there is a resistance at $ 3500 allready building up. Charts cannot move that quick.
Regarding what to buy I'm watching this board, and which coin toppics stay up next days. Seen Monero, Ripple, Waves just now.

I think by tomorrow we will be caught up with the dip China is seeing. Their exchanges are trading around $3100. If you think about it we were at $1700 only a month and a half ago. Even to fall back down around that price wouldn't be too shocking to me.

[dineshary]

when and what could be the bottom?

[Nalienn]

How is China playing anyone? There was an American Billionaire investor who literally called Bitcoin a pyramid scheme the other day. Bitcoin also first went from $1k to almost $4k in May/June, dropped to $2k and then rallied to $5k again. Of course the price will retract, or did you expect Bitcoin to keep climbing nonstop to $1m?

[BMG86]

Literally every day for the last two weeks since China/Asia started FUD'ing cryptos (again) we've seen the same shit. We north Americans pump it up during the day and they dump when they wake up and we're going to bed. It keeps happening. They release FUD news, everyone dumps, market calms for a few hours, north Americans drive the prices back up by buying at "cheap discount prices" then they wake up and sell. There's a bunch of dummies here who keep losing and they keep raking it in. Does no one else see this? They're constantly selling after we're buying.

Wow! This is exactly what I've been speculating for the past few months!  They're reaping profits off of us big time! It's all a mind game they're playing with us and up until now I thought I was the only person that was thinking this.

[puremage111]

I strongly agree on OP's statement

Chinese people has one problem with them, emotions.

Most chinese only look for short term profit, fast and easy cash. Therefore when FUD happens, chinese is always the first one who dump on everything.

Source : I am a chinese, i know how chinese works x)