Reason Behind BTC Price Drop

[waqarkahloon]

We see that BTC is down to 28% in last 7 days which is result of FUD made of from China banning BTC. But this is not the case, instead china is banning ICOs without proper licensing and refunded all ICOs done on chinese exchanges like LLT and TRX on Binance. China ordered exchanges to get proper license before operation in China and these exchanges are still operative for International users. So We cannot say that China banned BTC instead they banned BTC exchanges to operate without licensing.
Another reason was the FUD made because of Jamie a CEO of a bank and then propagation of this news as a important highlighted news as on CNBC, Express tribune and other international News papers and News channel did. This seems like Banking system backed this news propagated it to make people scare of BTC so they can invest in banking system. BTC is a Bubble is word most used to make people scared about their money invested.
All FUD resulted in crypto currency down from 150billion $ to 112 billion $ in less than a month. People are scared of their investment but big old trader are saying this that this will rise again so don't panic and sell their bitcoin at low price to make a loss instead hold and u will see a big increase in price very soon.
This FUD happened many times in throughout history of BTC from 2011 specially china is banning BTC so do not panic sell if u want to remain in cryptocurrency.
What are your opinion about main reason for this price drop? 

[Cindy1983]

As all I know from reading news about cryptocurrency, the main reason for this case is related to China government ban, But I'm still thinking about that will they do it or not cause China government get a huge amount of tax from Bitcoin mining factories in their country and almost biggest Bitcoin mining factory are located in here so if they do it, ban all activity related to cryptocurrency, I think it'll be a great loss for cryptocurrency economy all over the world cause Bitcoin mining factories in China are providing a huge amount of Bitcoin to World exchange market everyday.

[waqarkahloon]

China did not announced to ban bitcoin instead just ask exchanges to get license in order to operate in china. Also asked exchanges to get lincense for ICOs. not banning them

[john2231]

I think bitcoin not announced that it will be ban but i heard there are ICO was already delisted that i think only ICO was ban not the whole cryptocurrency
If you heard that bitcoin is ban its a fake news better to look for btcc exchange or any china exchanges use the google built in translator to read and to see that fact that there is no bitcoin ban..
People are just panic selling even they are not reading the real source.
For now we are seeing more price drop and i think panic selling will still no ended..

[bartolo]

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

[harizen]

China's regulation on ICO is somehow will give us benefits.

On the other hand, about the news about shutting down exchanges, it will really have a big impact on the price. The drop will continue because of that. With the concern like this, everyone must maintain their being optimistic about bitcoin since after all this things will over, even it will lasts for long time, still we can see bitcoin price again having a spotlight again at the stage.

We just wait what will happened now after all China bitcoin exchanges will now closed their operations.

[Adbitco]

The reason seems to be quite obvious and that is the Chinese government decision to regulate ICOs and exchanges in their country I don't think there's any reason for us to make it a big issue as the effect of it on bitcoin price isn't going to long last. Despite all these decisions taken by government of China and even one of Chinese biggest bitcoin exchange BTCC announcement to suspend trading starting September 30 the bitcoin mining pool in China haven't stopped mining so what does it all mean maybe Chinese trying to acquire more bitcoins by taking advantage of price drop. Maybe I'm wrong but that's what I think.

[soy]

There is no concrete reason behind this drop ... The bad news from China is not so catastrophic ... It is the panic of people that drops the prices, nothing more. When the whales arrive to fill their pockets, prices will rise again and at this point people will reinvest, but the prices will have already increased a lot and the possible amrges will be much lower. Buy now, as long as there is still time!

[BitFinnese]

There is no concrete reason behind this drop ... The bad news from China is not so catastrophic ... It is the panic of people that drops the prices, nothing more. When the whales arrive to fill their pockets, prices will rise again and at this point people will reinvest, but the prices will have already increased a lot and the possible amrges will be much lower. Buy now, as long as there is still time!

I believe there is a concrete reason for this drop.  Fear, Uncertainty and Doubt., that is the concrete reason why Bitcoin price drop today.  If we check news and history of Bitcoin price, drop starts when China banned ICO then drop further when a known personality said that Bitcoin is fraud, and even drop lower when the Bitcoin China closes announces its exchange service on Sept. 30 this year.  This series of events literally cause panic to people especially in China and make them to sell their Bitcoin holdings.

[tobatz23]

BTC price is falling because after Chinese bitcoin exchange BTCChina announced that it will stop trading from September 30 and banned all ICO's followed by a news of Bitcoin being a fraud by the Ceo of JP mogan. This news hit hard on the Crypto market. The Cryptocurrency market is volatile right now and all positive and negative news will create some impact on the market and it will see up and down in future.

[iamTom123]

BTC price is falling because after Chinese bitcoin exchange BTCChina announced that it will stop trading from September 30 and banned all ICO's followed by a news of Bitcoin being a fraud by the Ceo of JP mogan. This news hit hard on the Crypto market. The Cryptocurrency market is volatile right now and all positive and negative news will create some impact on the market and it will see up and down in future.

Right now, the Bitcoin market is riding on a big ship of negative news and nobody can say when will this ship finally docked so we can move on and let this time be just another down history for our digital currency. The whole cryptocurrency market is affected because of what is happening with Bitcoin. People are encashing their hoard of Bitcoin so they can escape the heat while, of course, there are also many who are just "HODLing" what they got thinking that they can weather this big storm.

This is akin to suffering the power of Irma...there would be destruction everywhere...but ultimately we can get on our feet and rebuild. The same here in Bitcoin. In the past, Bitcoin also crashed yet after some time the recovery took hold. We just have to strengthen our mindset on Bitcoin as it will not go away. Remember that just last year...the value was at $500...and just after many months it escalated.

This is the trial stage for Bitcoin and we should stand united for it!

[StockBet.com]

Greed makes the price over-shoot.

Panic makes the price over-shoot.

However, nobody knows when the market will stop over-shooting.

[richardivan]

As all I know from reading news about cryptocurrency, the main reason for this case is related to China government ban, But I'm still thinking about that will they do it or not cause China government get a huge amount of tax from Bitcoin mining factories in their country and almost biggest Bitcoin mining factory are located in here so if they do it, ban all activity related to cryptocurrency, I think it'll be a great loss for cryptocurrency economy all over the world cause Bitcoin mining factories in China are providing a huge amount of Bitcoin to World exchange market everyday.

AFAIK China didn't ban Bitcoin or mining but they ban ICO because some of their people invested on scam ICO, so it's affect on local economy. Even China ban exchanger they still can trade P2P or use vpn to access exchanger

[serjent05]

This is because of the news about Chinese guidelines that Chinese government released with regards to ICO and banning local exchanges.  This is intensified by the largest Bitcoin exchange in China BTCC, announcing that they are to cease their operation at the end of this month resulting people to panic and the FUD about Bitcoin doomsday spread again.  But I think this is normal to bitcoins eversince. if we check the history Bitcoin keep on fluctuating wildly and the tendency to go down then bounce back.

[rockyboy]

The reason behind bitcoin's price drop is due to some fake news that are spreading and a lot of people do some decisions because they are worried and about to panic and do some speculations about BTC. Start to worried about what if it continue to fall down.

[sotoshihero]

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

LOL Weak hands will sell and goes panic  base on not verified news and source. Some has unclear news and wrongly projected that China is banning bitcoin, where in fact its just temporary ban on ICO's. China has started regulating ICO's and this is good for investors to screen those  fraud and scammers.

[waqarkahloon]

I think bitcoin not announced that it will be ban but i heard there are ICO was already delisted that i think only ICO was ban not the whole cryptocurrency
If you heard that bitcoin is ban its a fake news better to look for btcc exchange or any china exchanges use the google built in translator to read and to see that fact that there is no bitcoin ban..
People are just panic selling even they are not reading the real source.
For now we are seeing more price drop and i think panic selling will still no ended..

YEs u r right. BTC is not banned instead govt asked exchnages to get license before ICO sale but people are just crazy. Panic selling. Nobody there to stop them in losses. Even media is also playing a big role may be paid role to make this panic more fast by creating FUD

[waqarkahloon]

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

LOL Weak hands will sell and goes panic  base on not verified news and source. Some has unclear news and wrongly projected that China is banning bitcoin, where in fact its just temporary ban on ICO's. China has started regulating ICO's and this is good for investors to screen those  fraud and scammers.

Many investor have no accounts on twitter as well as bitcoin forums where they can meet big traders of bitcoin. Instead they just rely on regular news channels and papers which are mostly are involved in creating this FUD so regular common investor got stressed by this FUD and so they panic sell their bitcoin. Where as regular trader sold at high price to buy at low price to make a profit. All this together resulted in bitcoin price drop. 

[MiF]

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

China is manipulating the cryptocurrencies so that if bitcoin value will going down they will buy it at the cheapest price in re invest it again then they will be the majority holders of all coins stock when it back to highest value in the future. Im just confusing if China have really  this kind of power or influence to control the bitcoin movement which is a decentralize.

[waqarkahloon]

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

China is manipulating the cryptocurrencies so that if bitcoin value will going down they will buy it at the cheapest price in re invest it again then they will be the majority holders of all coins stock when it back to highest value in the future. Im just confusing if China have really  this kind of power or influence to control the bitcoin movement which is a decentralize.

china played it game very well despite of having just less than 20% trade volume. They made every common trader panic and news on media made it more highlighted like said by CEO jamie that BTC is fraud etc. All these thing made ordinary trader who are not connected with big cryptocurrency community panic and they sold resulting in drop. expert trader sold their coins to buy at low price result in more drop so we see this 30% drop with in two weeks