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Bitcoin Forum > Bitcoin > Bitcoin Discussion > Press > 2013-12-05 bitcoinnews.cz: What is behind the huge drop price of bitcoin?
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michal_sjx (OP)
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December 05, 2013, 12:55:51 PM
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Today, the price fell Bitcoin points more than 300USD. What's behind it? Again, it's our Eastern superpower China.

http://www.bitcoinnews.cz/en/what-is-behind-the-huge-drop-price-of-bitcoin/
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December 05, 2013, 02:02:30 PM
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Bitcoin Price Crashes as China Outlaws Bitcoin for Financial Institutions:

"..[China] central bank is telling the nation’s financial institutions not to deal with bitcoin, it said individuals are free to buy, sell and use the cryptocurrency, if they wish, but they must take on the risk themselves.."

http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions/
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December 05, 2013, 04:02:26 PM
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It's not a huge drop. It's just a flash crash and price will recover fully before the day ends.

tl;dr: China says:
Bitcoin is not currency but it is a commodity.
Banks should not use bitcoins but online exchanges are fine to provide services as long as they comply with aml/kyc laws.
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December 05, 2013, 05:27:24 PM
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It was an opportunity for cheaper coins again... and I missed it sleeping.  Damn it, I'm never sleeping AGAIN!

TC.
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December 05, 2013, 06:27:33 PM
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And it recovered nearly all of that by the time I awoke. Now we're only in the red by like $150. People need to chill, whenever we go below $1000 it pretty much means a great buying opportunity.
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December 05, 2013, 07:49:11 PM
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Quote from: TooCasual on December 05, 2013, 05:27:24 PM
It was an opportunity for cheaper coins again... and I missed it sleeping.  Damn it, I'm never sleeping AGAIN!

TC.

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December 05, 2013, 08:05:10 PM
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Quote from: TooCasual on December 05, 2013, 05:27:24 PM
It was an opportunity for cheaper coins again... and I missed it sleeping.  Damn it, I'm never sleeping AGAIN!

TC.

So you think that 850$ is cheap while 1000$ is expensive? I think you are trying to sound bullish but you end up sound ridiculous instead.
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December 05, 2013, 09:25:32 PM
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There was a huge drop? Where?  Roll Eyes

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