China is playing us

[Technor]

buy in on the dip. times will get better again.. after the panic

[MiBambino]

Good times for us to dip though, I wonder how long would this price drop, perhaps the 2.7k - period where China are not seriously involved.

I was thinking 2.7 as well cause there's decent support

[Zakhal]

I was expecting crash for the fall, i think it was even foretold by Goldman Sachs. They are pretty accurate with their forecasts:

"With Segwit implemented, I believe $5,000 bitcoin is within striking distance," he said. Bitcoin enthusiasts, however, shouldn't get too excited about the big move up. Jafari warns that the gains are unlikely to last. She sees a drop of as much as 38.2% once the fifth wave is completed. That would mean a move back below $3,000.
http://nordic.businessinsider.com/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8?r=US&IR=T

[nikisev]

I think it's a good thing for those who were waiting for a downstreak to start buying cryptos, like me. It's a decentralized market, so even if China want to try to regulate it, they would only be able to do it on their soil, so it's just a bad thing for china people (like with a lot of China's government decisions).

Smart thing will be to figure out how chinese people are going to move their money from exchanges. I dont believe they are going to cash out and say "well it was good run but now we going to abandon 100 billion market and go back assembling iphones and plastic toys". All their assets are going to reappear somewhere.  Regulation will stabilize market, but nothing can really stop it.Except may be from AI that will awake and say "I have better idea"

[go4crypto]

This correction is a great buying opportunity. BTC, ETH and many other top coins,
all are as  deeply oversold as the Late July major bottom with RSI touching 30.
Bottom should be very close.

[lordzc]

The crypto world this type of news may shake, but never break he can't . After a short time will rise.

[boranes]

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.

You are saying that you are buying and chinese are selling because you pumped price?
Then you should sell and wait for chinese to drive up the price.

[adzino]

wtf I am missed. So that's why all is going down. Any predicts for how long? When bottom?

Chinese government started to ban all ICOs. Caused the price to dip. They again trying to ban all local exchanges and investors are now trying to exit buy selling all their coins thus the price falling down.
We need to wait for a while until everything calms down.

[YuTü.Co.in]

In re this thread's title, I'd say that Jamie Dimon and his ilk are also playing us - Jamie came out on two consecutive days to diss bitcoin causing it to drop, while during the exact same timeframe, the legacy stock markers climbed. What are the odds?

I'm pretty sure that Jamie's daughter is currently in the process of stockpile bitcoins on the cheap.

[Snaic]

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

[MiBambino]

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

They want control and a large piece of the money-pie, that's all

[dineshary]

Bitcoin price trading below 3000 in chinese exchanges. Are we gonna see the same in other exchanges too?

[vijayether]

Bitcoin price trading below 3000 in chinese exchanges. Are we gonna see the same in other exchanges too?

No. Chinese exchange prices are always low

[Lastsamuraj]

From one side chinese gave us opportunity to invest more on lower ,from other side who knows what will happen next,and will our already bought btc/alt coins be able to recover in nit that far future.A lot of work to do because of them

[wurth]

In re this thread's title, I'd say that Jamie Dimon and his ilk are also playing us - Jamie came out on two consecutive days to diss bitcoin causing it to drop, while during the exact same timeframe, the legacy stock markers climbed. What are the odds?

I'm pretty sure that Jamie's daughter is currently in the process of stockpile bitcoins on the cheap.

Even, he is enjoying his profit from Bitcoin now lol . Just a word by him can makes the price of Bitcoin crashes much, wow I do not think China cannot equal to him. A country just makes the price of Bitcoin drop value ~$200 - $300, but the word by a CEO of bank can drop higher than $1,000 of Bitcoin

[triads]

China is trying to control capital flows. That's why the crackdown on BTC exchanges.
For them, it's a logical extension of all the other currency controls that are already
in place.

Frankly, I'm surprised it took them this long. Bitcoin was one of the prime
ways that Chinese could move monies out of the country... pretty much in an
unrestricted way. And largely untraceable.

Capital controls is their main motivation. The effect on the price of BTC is pretty much
unimportant to them.

[DragonSlayer]

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

They want control and a large piece of the money-pie, that's all

Looks the price already rise again but they are not want to control the bitcoin but they are want to regulate the ico, Because the ico hasn't banned in there according the latest statement from the regulators in pboc site.

I don't see any rise right now but instead I'm seeing a bloody fall and its bit alarming for continously seeing this since seems there's no since of pump I've seen for now and maybe we can experience more dumping by more people around and this is so bad since I don't want to see bitcoins to reach for 1k$ again or even more down.

[dineshary]

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

They want control and a large piece of the money-pie, that's all

Looks the price already rise again but they are not want to control the bitcoin but they are want to regulate the ico, Because the ico hasn't banned in there according the latest statement from the regulators in pboc site.

I don't see any rise right now but instead I'm seeing a bloody fall and its bit alarming for continously seeing this since seems there's no since of pump I've seen for now and maybe we can experience more dumping by more people around and this is so bad since I don't want to see bitcoins to reach for 1k$ again or even more down.

Add friday factor to it. there will be more bledshed. better to buy USDT?

[Kool_89]

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

They want control and a large piece of the money-pie, that's all

Looks the price already rise again but they are not want to control the bitcoin but they are want to regulate the ico, Because the ico hasn't banned in there according the latest statement from the regulators in pboc site.

I don't see any rise right now but instead I'm seeing a bloody fall and its bit alarming for continously seeing this since seems there's no since of pump I've seen for now and maybe we can experience more dumping by more people around and this is so bad since I don't want to see bitcoins to reach for 1k$ again or even more down.

Add friday factor to it. there will be more bledshed. better to buy USDT?

yep its not even weekend yet....
if things keep on going down till sept 30 which is when the exchange will stop, its going to one heck of crazy bloodbath hahaha

[shade_wrath]

Seems like we need a strategy to move over BTC. Find Alternative market supports which can hold market when BTC is bleeding every day or two!