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Author Topic: Is this a coordinated attack on btc  (Read 759 times)
criz2fer
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September 30, 2017, 06:38:13 AM
 #21

Is there a pattern here.

#1 China claims they plan to crack down on exchanges.
#2 Economic frauds come out at the same time claiming bitcoin is an overpriced bubble, ponzo scheme.
#3 At the same time, it appears bankers and other whales begin to dump bitcoin to drive the price down.

i think that it was the intention of the chinese government to stymie price speculation in the short term. that's not to say they wanted to crash the price, but they knew what they were doing and expected the price to drop. that's also why they've been releasing news piece meal (first the ICO news, then the english version days later, then NIFA issues a statement, now okcoin/huobi meeting with state regulators tomorrow).

as for the others -- jamie dimon and all the economic "experts" throwing shade on BTC..... i think they were all already detractors and chose an optimal time to pile on. nobody wants to look like an idiot calling it a bubble while it keeps making new highs. it looks better after the price has already "crashed."

As for JP Morgan CEO Jamie Dimon, its a clear conflict of interest. Investor right now are considering bitcoin in their portfolio. This is a huge setbacks on his business. Jamie Dimons statement is timely with the Chinese announcement temporarily banning those ICO's. He just ride the situation.

This is just like throwing a stone on a silent water. Since all are hype in the Chinese news, other journalist take the ride and make headline about a certain quote that really affect the bitcoin. It is natural if a country to regulate their ICO. With the FUD that spread thru the community and the ride of the news, people would really panick. Psychologically, people in the crypto are being blinded specially the new traders which sell their bitcoins this past month.

For me, it is not intentional, hope to rocket the bitcoin before the year ends. Cool

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Natsuu
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September 30, 2017, 06:42:00 AM
 #22

If human beings can actually unite at such a front, the world or rather the society might advance faster than we thought. I seriously doubt so but it would be more of people taking advantages of the scenario like what someone else has mentioned.

Oh these are all part of the side show of China and many here didn't know that China manipulated the market.
They create a fud and everyone goes panic and the big whales are catching up the small fishes in the sea.
And those fishes are the one who panic and give their money to big whales. Indeed China is very good in manipulating things and they can make all thing possible if they want.

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September 30, 2017, 06:52:13 AM
 #23

If human beings can actually unite at such a front, the world or rather the society might advance faster than we thought. I seriously doubt so but it would be more of people taking advantages of the scenario like what someone else has mentioned.

Oh these are all part of the side show of China and many here didn't know that China manipulated the market.
They create a fud and everyone goes panic and the big whales are catching up the small fishes in the sea.
And those fishes are the one who panic and give their money to big whales. Indeed China is very good in manipulating things and they can make all thing possible if they want.
On the first time bitcoin was booming, i agree with your analysis that the government of China can be manipulation of bitcoin's price with their rules, because on its time the people who invested in bitcoin are from the China. But i don't think it for now because many other people who invested large of money in bitcoin, they are from America, Europe and any other countries. Today even the Chinese markets of bitcoin be closed the bitcoin's price will not goes down too deep.
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September 30, 2017, 06:58:00 AM
 #24

instead of looking at it like an "attack" you should always look at these things as "opportunities". and they are pretty common in bitcoin that you get used to the fact that they happen all the time. each time there is a different reason but they all end up having the same result which is some manipulation at first then more panic sells and finally a big drop which means a huge profit on the recovery.

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magneto
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September 30, 2017, 07:39:14 AM
 #25

Is it a coordinated attack? No. But central bankers have always been quite anti-bitcoin and have always voiced their opinions accordingly no matter how wrong they evidently are about both bitcoin as a currency and as an investment.

But the general trend here is that governments seems to be keen to regulate bitcoin more strictly now, and some influentials figures are anti-bitcoin.

At the same time though, we've got people like John McAfee who are extremely pro-bitcoin that have recently emerged too.

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September 30, 2017, 08:02:45 AM
 #26

Possibly but I  guess the one who coordinated is the people who talk about Bitcoin being fraud.  They knew China will act hostile on Bitcoin exchanges so they need to stage something that will coordinate with these Chinsese  Government.  Then probably shorting their trade selling a huge chunk of Bitcoin to buy them again when price dip.  Well, i think that is one brilliant strategy to shake weak hands and FUD Bitcoin and buy them when price goes down.



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centralbanksequalsbombs
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November 08, 2017, 04:32:16 AM
 #27

Possibly but I  guess the one who coordinated is the people who talk about Bitcoin being fraud.  They knew China will act hostile on Bitcoin exchanges so they need to stage something that will coordinate with these Chinsese  Government.  Then probably shorting their trade selling a huge chunk of Bitcoin to buy them again when price dip.  Well, i think that is one brilliant strategy to shake weak hands and FUD Bitcoin and buy them when price goes down.

What are you talking about? China was the biggest on the scene to foster and support Bitcoin exchanges - how do you think the bitcoin exchanges got so big there in the first place? What suddenly made them change their tone in the last one year?

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