Charlie Lee: Chinese bitcoin FUD is whale manipulation

[aso118]

obviously people will play up news to try to make fast money but there is real problems now not all FUD

yeah but what you call "problems" are nothing new! they have existed for a long time over in China. the Chinese government has always been like this towards bitcoin and any bitcoin services and from time to time when things get bad with these services the government takes swift actions like closing the exchanges. but again it is NOT the first time!

Closing down exchanges is a big step by the Chinese government. The government must have taken into account the fact that this will unnerve a lot of people. Now they will see how the market reacts before taking further action.

[Zicadis]

This is the plain old truth which people refused to work with and resulted in a huge dip of bitcoin and many other altcoins because people are usually fooled with such FUD but it's good to see that people like Charlie Lee with some influence/following come out in the open to get the record straight to stop this artificial manipulation from going on. Great to see prices rising once again 

[farhaan]

Yes,its another golden opportunity for big whales to spread FUD and create panic selling to buy cheaper bitcoins.These big whales are continuously getting opportunities like BU,then BCC and now china's ban.This time,its working good for them as it is logic for any one to believe that china would ban bitcoin.But now,it has started to settle and bitcoin price is now $3,960.Its a great time once again for big whales.

[ekoice]

Yes,china's actions against bitcoin was a golden opportunity for big whales to spread FUD so that they could once again buy more bitcoins at cheap price.They know very well that already bitcoin investors all over the world are already concerned about china's policy on bitcoin.So,even a small spark of negative news about china would create a great price fall in bitcoin.So,the big whales just made use of it and filled their pockets.

[Utrine]

Yes,its another golden opportunity for big whales to spread FUD and create panic selling to buy cheaper bitcoins.These big whales are continuously getting opportunities like BU,then BCC and now china's ban.This time,its working good for them as it is logic for any one to believe that china would ban bitcoin.But now,it has started to settle and bitcoin price is now $3,960.Its a great time once again for big whales.

I think the fud is not working now as the price is already $4400. The bitcoin is more than many people think.

[jekjekman]

they keep spreading the FUD and keep insisting on foolish things such as China banning bitcoin, China banning mining, ... and manipulate the price while shorting.

you have been told.

https://twitter.com/SatoshiLite/status/911067464796053506

We can't take away the fact that there is a group people trying to manipulate the price of Bitcoin and any other kind of currencies in the world as it is a profitable way for them, it is just that many people believe it fast and act so scared and started to sell their holdings without even trying to clarify if the said news is true or not, even the world's most reliable media networks can report some fake news cause there is no perfect in this world.

If you really trust the future of Bitcoin there is no need for you to doubt it as every now and then it always stays strong and keep on upgrading for the better good. I am holding the days that bitcoin's price plummeted and I don't even bother with that because I believe that it will be bouncing back soon and it really happened.

[1Referee]

I think the fud is not working now as the price is already $4400. The bitcoin is more than many people think.

It did work initially, till the market realized that it was doing the wrong thing - this China announcement dump behavior is repetitive. It's almost a cycle. Currently it may look like things have calmed down, which did indeed happen, but it just takes another announcement coming from China to trigger another selloff. It's stupid that the market falls each time China farts, but as long as people don't realize that China isn't what's thriving Bitcoin anymore, this will continue - people here are too busy focusing on gambling their wealth in this market.

[peter0425]

Charlie Lee was right all along. There are really big entities behind that manipulated and take advantage and twist the story when China announced the ICO banning. And they are very successful in doing so because the price plummeted to $2900 sending shockwaves to the market. However, when all the dust has settled, we realized that's is pure manipulation and they FUD they created put a lot of investors uncomfortable that's why they immediately push the sell button without realizing what really going on. Its really sad though but I'm sure they have regretted their decisions and buy bitcoin back resulting in the recovery of the price is such short span of time.

[Izarok]

Bitcoins Intention was to brake the banks dictatorship. As we can see, nothing changed with bitcoin. Instead of banks, now whales dominate everything, manipulate and steal.

Wrong. Bitcoin was all about putting fair rules for everyone, and the rules are fair and clean, open source, there are no lies within the protocol. You can never stop whales from forming and you can never stop them from telling lines. If you are stupid enough to fall for the FUD and sell and lose your BTC then that is your problem, not anyone's else or BTC's problem itself.

I also agree with that. Bitcoin gave us an advantage wherein we can all benefit and it is open for everyone not only for a selected few. With that being said, the market already coped up with banning and FUD it got over last September. The price is really going strong as of today its value is $4390 and it might really be nearing at $5000 before November.

[manselr]

Lol this guy.
Just two days ago he was tweeting that he heard from "trusted sources" that this was just the beginning of the China ban and that things would get much worse from here.
I think we found one of these whales he's talking about...

It doesn't matter though, even if China wasn't planning to ban Bitcoin initially, you can bet your life that they got wind of the influence Bitcoin has with all this drama and they want nothing of it.
So bans ARE in the works, and not only in China, the only thing allowed to be in control and set strict rules are the Governments and banks in these countries, and they are big in numbers.

My prediction is that within a 2-5 year time frame Bitcoin will be illegal in 99% of the worlds countries and only be allowed in Antarctica or some other place where nobody actually lives or does anything with it.

You have to be really naive to think the 0.1% of people holding 99.99% of the worlds wealth will give that up for a silly monopoly money computer program.

This is delusional game theory. 99% of governments have never colluded to do anything, this time it will not be any different. Someone's ban is someone's else gain, meaning that, if a country bans it, another (smarter) country realizes they can now have a bigger piece of the bitcoin pie.

What will be fun is when all of the countries that previously banned it realize their mistake and unban it again, pushing the price up further.

[Kronos21]

The forum is Chinese and I never heard from them stating that China really has what kind of action to ban. It seems to me that it really is fake. Whales are constantly spreading the news constantly and then become even more rich. Those who sell their coins during the panic not only loses his money but makes things easier for the whales to destabilize the situation on the market in the future.

[nizamcc]

See? I've told this many times that they were just fud'ing about everything right from the start as I understand them very well. They have greed in their blood and can do whatever it takes to shake off the markets to show them that they have now removed themselves out of the game, but they are preparing for maybe a hidden attack soon? This now becomes a question of security to the whole community and I think that this bitcoin gold may also be having few links attached to their plans as well.

[player514]

On top of the Twitter post that was posted by OP weeks ago, I find this article very interesting:

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/amp/

It's very possible that China was testing how powerful their influence was and they are attempting to regulate the trades that will happen in the future only on exchanges they license. We may even see taxes on BTC introduced in China.

[aardvark15]

they keep spreading the FUD and keep insisting on foolish things such as China banning bitcoin, China banning mining, ... and manipulate the price while shorting.

you have been told.

https://twitter.com/SatoshiLite/status/911067464796053506

It doesn't really surprise me if this is the case. We know that whales have influenced Bitcoin prices on some exchanges in the past so it is possible.  

I also wondered that even if China was trying to ban Bitcoin that it was for nefarious reasons like the Chinese government wanted make their own cryptocurrency and force their citizens to use it. Or the Chinese government wants the price to drop in order for them to stock up on Bitcoin before making it legal again. Essentially this would make the Chinese government a whale manipulating the price.

[pitham1]

On top of the Twitter post that was posted by OP weeks ago, I find this article very interesting:

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/amp/

It's very possible that China was testing how powerful their influence was and they are attempting to regulate the trades that will happen in the future only on exchanges they license. We may even see taxes on BTC introduced in China.

[darkangel11]

He's right as many sources are now saying that Chinese ban is temporary and they will resume trading at some point. The price has also recovered, which proves that investors aren't afraid of the Chinese stance. They have initially tested this tactic in 2014, when they started closing down exchanges and saw the price go down with each announcement they made. There were 3 or 4 within maybe 2 months, which just added into the downtrend. People made money back then and they made money now. We can expect more FUD from china in future.

[arpon11]

I have been  saying this several times that the news of China banning bitcoin mining and exchangers activities is a whales manipulation to create panic for the amateurs to sell their coins at lose and for them to buy at cheap prices.

[Pursuer]

On top of the Twitter post that was posted by OP weeks ago, I find this article very interesting:

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/amp/

It's very possible that China was testing how powerful their influence was and they are attempting to regulate the trades that will happen in the future only on exchanges they license. We may even see taxes on BTC introduced in China.

people read too much into these things in my opinion. they build some kind of big evil out of the government, specially the foreign government for themselves and then explain every actions they make based on that assumption.

imagine an online shop selling goods (like clothes, computer hardware,...) and this shop handles 50 million dollar sales every day. now do you think this shop can continue working with dollar without license and with no regulation? the answer becomes so clear when you look at it like that, isn't it?

[PokerFace3]

Yes,its another golden opportunity for big whales to spread FUD and create panic selling to buy cheaper bitcoins.These big whales are continuously getting opportunities like BU,then BCC and now china's ban.This time,its working good for them as it is logic for any one to believe that china would ban bitcoin.But now,it has started to settle and bitcoin price is now $3,960.Its a great time once again for big whales.

I think the fud is not working now as the price is already $4400. The bitcoin is more than many people think.

The FUD did work and that fact cannot be denied. I only pitied the gullible new investors who panicked and allowed themselves to be played by the Chinese whales. It is not a new thing since we always have market manipulators and Jamie (JP Morgan CEO) also contributed a little bit to it so as to buy at a lower price. Hopefully, some people must have learned their lessons with this.

[digaran]

North Korea announced just now that if they find people using Bitcoin they will nuke the shit out of them where ever they are, China ban Bitcoin or not, nothing is changed for the rest of the world. if mining gets banned in China then it should be the same in any country. they all are thinking about regulating crypto currencies but banning them wont work because it's not possible to know exactly how many people are using them and where they are.