Bitcoin under $3000 and no chinese whales to buy

[Pearls Before Swine]

Uh, hello?  We didn'tit anything below $3000. I don't believe we even touched that
in the past month.  And we don't need China or any one country to buy, nor even
any whales necessarily,  in order to rebound.  We just need the people who believe
in bitcoin to buy or at least hold firm.  Either way, it's OK. Where we're at is a good
level and bitcoin has still had some unreal gains this year.

[1715270343]

1715270343

[entrepmind23]

Uh, hello?  We didn'tit anything below $3000. I don't believe we even touched that
in the past month.  And we don't need China or any one country to buy, nor even
any whales necessarily,  in order to rebound.  We just need the people who believe
in bitcoin to buy or at least hold firm.  Either way, it's OK. Where we're at is a good
level and bitcoin has still had some unreal gains this year.

Yes, the price did not go down below $3,000 and it is slowly going back up. FUD are everywhere and many are panic selling but now, we can see that bitcoin is stronger and China is not the only exchange of bitcoin and now, they only hold a small market share. They are being strict in their regulations because of the incoming National Congress but after that, maybe they would have some changes again and then would have news again of bitcoin exchanges resuming operations.

It's time for those people who panic sell to see the reality that China is just a part of the market share and not the whole of it. There are many countries that hold a larger part of market share than China. Many countries are regulating it and it is getting popular that's why some businesses who are greatly affected by the bitcoin rising and getting attention threaten them thus spreading news that bitcoin will just be worthless in the future.

[cpfreeplz]

Jeez. There is p2p, there is even decentralized exchanges on the blockchain

This ban is like banning alcohol in bars; it is like fighting windmills....

It will only accelerate the development of shadow markets and from a crypto point of view, this is a good thing - government  lose control. IMHO Chinese government will soon discover that controlled exchanges would have been preferable.

Meanwhile, in the real world, many countries are legalizing drugs to move them out of the shadow LOL  

That's true. Canadian laws are getting more and more relaxed with pot. But China has gone the opposite direction with something just as 'radical. What a fail. They aren't 90% of the demand. It's all smoke and mirrors.

[muncuss]

wait for the bottom, then spread news about bitcoin, bring new people to this world. There are still billions of people don't know about bitcoin. Price will recover without chinese whales involved (maybe we'll creating new whales)

[bubblebit]

Stay away from the market as the hurricane passes by. This is clearly the worst time to sell today ... Chinese whales must think they can lower prices a bit further, but there is a time when they will reposition themselves ... The bitcoin has such a price, this is gift, so do not panic and do not sell now!

I was not informed or I forget that idea. I though docking would be enough. Hahaha. Nice I will take it note, "hurricane Panic is destroying the market at now", please refrain from looking and take cover inside your bunker. Thanks I would have not remembered this if you don't have reminded me. That is the best thing to do as of this event still happening.

[vasrasus]

Stay away from the market as the hurricane passes by. This is clearly the worst time to sell today ... Chinese whales must think they can lower prices a bit further, but there is a time when they will reposition themselves ... The bitcoin has such a price, this is gift, so do not panic and do not sell now!

I was not informed or I forget that idea. I though docking would be enough. Hahaha. Nice I will take it note, "hurricane Panic is destroying the market at now", please refrain from looking and take cover inside your bunker. Thanks I would have not remembered this if you don't have reminded me. That is the best thing to do as of this event still happening.

When we read news about bitcoin now ,we might really change our perspective knowing China bans it and it is all over the news that makes other users dump btc. Hope dump will be a little bit slower, it's way too fast. That I don't know when will I'll be going to buy many of it.

[UnDerDoG81]

We had this same scenario a few times now. Every ATH China bans BTC  

Lets hope they finally ban it.

[tokeweed]

The thread's title is clearly trying to spread FUD.  To put everything in context, China accounts for how much of Bitcoin's total volume?  10% - 15%?  I'm pretty sure after all the FUD (yes, I thinking China is spreading its own) and manipulation, we're on our way going back towards new ATH again.

[ipanks]

just wait and see and don't attract to the bad news, its just another drama or scenario from the people which don't like with bitcoin. not much we can do unless waiting and if we have balance, then we can buy again. i wonder what chinese people do if their government banning bitcoin?

[denny27]

It's already happening and whether it will continues to decline or soon it will be rising back, which obviously this incident seems to make me to no longer want to hear the news / events in China, this make me sick. Can only wait and expect bitcoin prices to rising back after this, hopefully everything will pass quickly and we can see again the beautiful light of bitcoin that can giving a good hope to everyone.

[maokoto]

As it is now, price is yet much, much higher than it was at the beginning of may. Aren't we happy with such a wonderful raise?

I will hold. Even with this big 1000$+ crash, Bitcoin always ends up higher. It advances 10 steps and goes back only 3.

[1Referee]

As it is now, price is yet much, much higher than it was at the beginning of may. Aren't we happy with such a wonderful raise?

People always discard the huge load of positivity we have gone through, when the market takes a dive towards the South. At this point it's likely a matter of hours before we see the first USD exchange dips below the $3000 level, but even if it falls down all the way to $2000 flat, we are still up 100% this year. At the end of the day, we shouldn't let this recent China panic weigh to heavily - a correction was due anyway, and the peak to nearly $5000 was coming from a market being heavily overbought. People should have cashed out their profits at that point, where they right now would be in a very decent buy back position. Aside from me trading the market, I will start buying back a decent number of coins as soon as we fall back to ~$2500.

I will hold. Even with this big 1000$+ crash, Bitcoin always ends up higher. It advances 10 steps and goes back only 3.

Selling is too late already. If people wanted to sell so badly, they should have liquidated their profits at +$4000 levels, and not dump in panic right now. It's not only a sign of weakness, but it shows that you have nothing to do in this market. Instead, use this opportunity to buy on the way down - it will allow you to lower your overall buying price significantly.

[sulendra12]

Don't stay away, buy in while the price is low and enjoy your profit once the market recovers just like 2-3 months ago!

Correct. When you buy on low price, it also helps Bitcoin to recover that price slowly maybe 1 or 2 months Bitcoin would be back to $4000 (I hope so) but panic sell still dominated on most exchanges, just watch out for this.

[Rahar02]

China may ban bitcoin, but the biggest issue here is most people fall to panic sell following Chinese people.
PBOC will cease exchange trading by the end of September, Chinese whales won't buy back if they can't sell bitcoin in the end.
It's better if Chinese people sell-off all of their bitcoin out of the country which will be beneficial for bitcoiners across the world to buy more cheaper bitcoin,

[xypos]

Is there any positive outlook that its going up again fast to $4500 and more?

People are panic dumping right now and i think that it is likely price is going to stay below $3000 for a while.

However, $4500+ could be possible if BTCChina decides to reopen their service and/or Chinese government clears up all the FUD regarding them wanting to shut down all exchanges and reconsider their decision to ban ICOs.

Otherwise, i think that the short term target is $2500, potentially lower. Recovery is going to be slow and hard.

[stupid_seb]

If Chinese whales din't buy

Japanese whales will
(if the Japanese people actually don't eat the whales...lol... such irony)

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

[ckorbba]

If Chinese whales din't buy

Japanese whales will
(if the Japanese people actually don't eat the whales...lol... such irony)

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

I think that many users hope for a positive solution to the problem with China. Perhaps it is the Japanese users that will make a positive impact on the development of Bitcoin and everything connected with it.

[stupid_seb]

If Chinese whales din't buy

Japanese whales will
(if the Japanese people actually don't eat the whales...lol... such irony)

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

I think that many users hope for a positive solution to the problem with China. Perhaps it is the Japanese users that will make a positive impact on the development of Bitcoin and everything connected with it.

I am pretty confident that China will come back as a significant actor. The Chinese gvt is not dumb and the only thing they have to do is regulate.
A copy paste of what we see in the USA is perfect

a- Exchanges need to be certified and validated to trade BTC-ALT pairs.
--> Only the top ones in China will remain.

b- Trading BTC-FIAT requires a specific licence, like Coinbase has (close to a banking licence for instance)
--> Maybe the sites will limit the volume of CNY you can put in. For sure, only a handful will be able to do that, and they will have to ensure a strong KYC solution so that the PBoC can track movements of currency.

c- Cleaning up the mess with ICOs.
KYC is key. NEO should become the official currency for ICOs, assuming they comply with strict KYC solutions
--> maybe only the exchanges allowig FIAT trading, hence having this KYC solution will be able to pilot ICOs, using a NEO Wallet.


Once this is done, China will come back to its normal weight in the ecosystem: 20%-30% of trading probably.


Bottom line:
Look for 2 things today
1- put a bit of money on NEO and QTUM. These will moon the moment the PBoC communicates its plans.
2- find the Japanese ETH... (note: it may be ETH... LOL)