How low will she go?

[thegolden24]

With the recent news from BTC China how will this negatively effect 1. The price of btc overall 2. The trading volume 3. The acceptance of btc around the globe?

http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

[devthedev]

It wouldn't surprise me if it was FUD.

[thegolden24]

Wouldn't surprise me either but with China's dominance in the market in the past month and the hope it instilled in Bitcoin believers and investors I think this will be a sizable setback in the progression and acceptance of Bitcoin.

[Qbeczeq]

We cannot speculate exatcly what lowest price it will have. I hope that fluctuations will be not high so often as right now. Now is crysis, but we need to have nerves of steel and wait for back graph higher

[samsam]

IMHO, BTC will fall to $600 and stabilize around $650.

[Sindelar1938]

Right now, btc looks like could touch $500-550
Hope I am just being knee jerk

[pand70]

If the news are true then chinese exchanges will eventually close and the price will crash to pre china levels. Just imagine the headlines if that happens 

[seleme]

If the news are true then chinese exchanges will eventually close and the price will crash to pre china levels. Just imagine the headlines if that happens 

Yeah, those headlines in April were devastating for Bitcoin future too 

[pand70]

If the news are true then chinese exchanges will eventually close and the price will crash to pre china levels. Just imagine the headlines if that happens 

Yeah, those headlines in April were devastating for Bitcoin future too 

The headlines in april were the very first healines in bitcoin's history. Noone had invested money back then anyway.

[NUFCrichard]

Wouldn't surprise me either but with China's dominance in the market in the past month and the hope it instilled in Bitcoin believers and investors I think this will be a sizable setback in the progression and acceptance of Bitcoin.

It is weird that they have harped on about getting over the $ dominance, but as soon as they see a tool to do that, they start banning it (ironically before the USA does.)

[Lloydie]

Wouldn't surprise me either but with China's dominance in the market in the past month and the hope it instilled in Bitcoin believers and investors I think this will be a sizable setback in the progression and acceptance of Bitcoin.

It is weird that they have harped on about getting over the $ dominance, but as soon as they see a tool to do that, they start banning it (ironically before the USA does.)

China does not appear to have banned BTCs. They have banned payment processors, AFAIK.  It also appears that BTC China's own bank accounts are still open. 

IMHO, China is worried about funds outflow to the ROW via Btcs, possibly damaging the Chinese economy. 

Can China ban people from directly buying Btcs from BTC China next?  Maybe.  That is the unknown and also I don't know how the market would respond.  For example, will Btc go underground in China?

[bitcon]

there's a reason Chinese make 10 cents an hour.  they're scared of their government.

[seleme]

If the news are true then chinese exchanges will eventually close and the price will crash to pre china levels. Just imagine the headlines if that happens 

Yeah, those headlines in April were devastating for Bitcoin future too 

The headlines in april were the very first healines in bitcoin's history. Noone had invested money back then anyway.

Really?

http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/

http://www.wired.com/magazine/2011/11/mf_bitcoin/

http://www.dgcmagazine.com/the-old-radical-how-bitcoin-is-being-destroyed/

[piramida]

If the news are true then chinese exchanges will eventually close and the price will crash to pre china levels. Just imagine the headlines if that happens  

Yeah, those headlines in April were devastating for Bitcoin future too  

The headlines in april were the very first healines in bitcoin's history. Noone had invested money back then anyway.

Really?

http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/

http://www.wired.com/magazine/2011/11/mf_bitcoin/

http://www.dgcmagazine.com/the-old-radical-how-bitcoin-is-being-destroyed/

You are convincing a troll you know Trolls have no brain, they can't be convinced. As a rule of thumb, you can easily click ignore on anyone promoting Dice in their sig - that's what I do, and I have not really missed one post of substance so far. Think about it.

[seleme]

Hehe, might be a good one but there're still people who got carried away by trolls so it's good to cancel their shit

[film2240]

I hope £17 per BTC like at the start of the year before sudden rise so I can buy 20 BTC at that price. (£17 * 20BTC =£340 worth) or even lower than that

[T.Stuart]

I hope £17 per BTC like at the start of the year before sudden rise so I can buy 20 BTC at that price. (£17 * 20BTC =£340 worth) or even lower than that

"The truth, not what you want". I've got that written on a post-it note on my desk to stop me thinking stupid things about Bitcoin prices.  Sad eh?

[BitchicksHusband]

I hope £17 per BTC like at the start of the year before sudden rise so I can buy 20 BTC at that price. (£17 * 20BTC =£340 worth) or even lower than that

Dude, if it's that low BITCOIN IS DEAD.  You'll be the only one buying and the price will only go down from there.