Did China really crash Bitcoin again?

[Astargath]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

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[iamaruf]

I think china is the main reason behind the crypto crash.But this news and cointelegraph news are different.but both news marked that china is the main reason. I saw in cointelegraph that chinese police  raids on binance and bithumb.
News:  https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges/amp

[LeGaulois]

Bitcoin had been in a fragile zone for several weeks, we could see that the price was able to drop at any time. A little in the same situation as we were at $10k. It didn't take long for the price to fall if you remember back.

It's funny because several weeks ago when the price went up by $1k (or more?) the media outlets also said it was because of China (when they announced its own digital currency).

Always the blame on China ofc.

[Blawpaw]

every time Bitcoin goes down a legion of experts show up with a lot of theories. I believe these crashes to be orqestrated by whales who have been accumulating btc. The halving is coming, so sharks and whales should be using several techniques to gather more and more coins. This might be a move to lead many holders to take actiion while they get cheap coins

[minersday]

every time Bitcoin goes down a legion of experts show up with a lot of theories. I believe these crashes to be orqestrated by whales who have been accumulating btc. The halving is coming, so sharks and whales should be using several techniques to gather more and more coins. This might be a move to lead many holders to take actiion while they get cheap coins

Exactly mate, these people always show up just to spread FUDs causing newbies to sell the little Bitcoin they have in their wallets. How can China be the cause of the drop in the price of Bitcoin when there is no particular evidence to show a strong connection to this claims. I just wish this nature of some people in the bitcoin ecosystem will stop to help with the adoption of bitcoin. Such FUDs do not help the crypto ecosystem and bitcoin in any way.

[Shasha80]

I was surprised by the opinion that always connects China with bitcoin price movements. In my opinion the decline in bitcoin prices
now this is not because of the state of china, but indeed the price manipulation is carried out by whales in order to obtain cheap
prices for buy bitcoin. As we know in a few months there will be a big event halving bitcoin, therefore whales want to buy in the amount
of a lot of bitcoin by making prices down. And proven effective many investors are panicking sell now. So for who have not planned to
sell their bitcoin, I suggest not selling the bitcoin you have, because I'm sure a few weeks in the future bitcoin price will rise again.

[Astvile]

China may have contributed in this cryptocrash but they are not to be blamed.
There are still a lot of big factors that may cause this crash. Fud news will be number 1 factor for sure. Why do people always blame china when something like this happen?

[jossiel]

So that's what the media thinks about the crash, it's again because of China? and when the price pumps, it's all again because of China. 

I remember they're also the cause of the dump few years ago when the news came out about the ICO ban. But honestly, I don't think it's all because of them and what we've just seen is the very cycle of bitcoin's market.

[khaled0111]

Same here. I don't think the news coming from China have anything to do with the price drop of Bitcoin.
Prices started falling before the release of the news and many TA experts predicted it to happen weeks ago.
It wasn't the main cause but obviously it made the situation worst.

[malevolent]

Always the blame on China ofc.

It wasn't always like that, I didn't start seeing everyone trying to explain why the price is where it is due to China until ~October 2013. Six months earlier it was all about Greece, for example.

[Searing]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

I'm afraid so. The catch is mining is in full miner capitulsation now....with 60% of Bitmain S9's IMHO on the sha256-pow network...they are gonna fall off the wagon..thus...miners

are not HODL'ing anymore and they are selling coin in mass to pay for data hall and other past real life issues ..they are mostly underwater at a $7,250 usd btc price. Thus no HODL'ing

as most would want and MUST sell some coin to do real life issues. ...it sucks...add the need to (and probably can't) buy newer asic equipment that makes sense (see previous posts

i did under profil) but at 10c kwh and $7,350 usd Bitmain S17 pro 56TH miner at 2100 watts (moderate setting on watts) and you make $2.09 a day. When I looked today at also 10c

kWh a Bitmain S9i is negative -75c usd per day.

It is damn ugly out in the world.

Then as the OP states here...did China really crash BTC? I'm afraid so..the only other leg on the 3 legged stool left when mining as one and price as the other and trading/speculating is 3rd

leg of the stool....well the trader's and the nice little bots and long bets all got 'stuffed' on the China FUD on the BTC specific crackdown..mostly only noise that it is anyway.

Thus it is either a buy place to be for BTC or I should sell my Hoard and get completely out of BTC to cash.

I'm ridding it down, dumped $2,003 USD into BTC today and yesterday....boom or bust baby. My base figure is it MUST someday get above and stay above $10,000 USD in the future.

So I'm buying accordingly what I can afford bit by bit below that. If I don't think this is buy time for BTC, well then my BTC kool-aid drinking days are over and with my hoard

since 2013 it is all she wrote baby.

Boom or Beanie Baby I am gonna ride BTC either up to the heavens or down into a mine...what the heck..it is only money.

Boom or Doom I guess.

(hey, are we having 'fun' yet?) (sob!)

brad

[Kyraishi]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

Er, could be a pretty big explanation for the BTC crash, the small crash does match what would happen if China went through issues, especially since that China's population isn't incredibly invested in Bitcoin, and prefer more stable coins, compared to BTC.

There are a lot of Chinese whales, and there has been a lot of speculation that has lead to the theories that a lot of Chinese people are behind the small and large price movements of BTC, although - just theories.

[Astargath]

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

Er, could be a pretty big explanation for the BTC crash, the small crash does match what would happen if China went through issues, especially since that China's population isn't incredibly invested in Bitcoin, and prefer more stable coins, compared to BTC.

There are a lot of Chinese whales, and there has been a lot of speculation that has lead to the theories that a lot of Chinese people are behind the small and large price movements of BTC, although - just theories.

The thing is, this 'news' about China against Bitcoin are not news, China has banned Bitcoin trading long ago. Bitcoin has been in a downtrend for the past 3 weeks, almost.

[boltz]

There are some strong signs coming from China suspending cryptocurrency trading and make it illegal but Bitcoin had some rough weeks over the last months so this is a factor too. If something good does not come from China we will see miners capitulate and this will drag the price down even more so we must stay with an eye on the hash rate as well.

Who knows what the next weeks will bring into the markets but I don't think it will be good news with green candles ...and most likely we will see a 5k$ Bitcoin.

[hello_good_sir]

I feel like BTC over the last 3 or so weeks has been going down 2-3 percent every week, and this time it's gone down a bit more than that, and suddenly everyone is bringing up old news which doesn't relate to BTC price movements to try and justify the actions.

I don't think China was the reason for this price drop, and it hasn't been very effective when it comes to BTC price movements, and China has been on a constant battle against cryptocurrencies, so it's dumb to blame recent price movements on it.

[Duzter]

Just because there happened something against cryptocurrency people simply relate the market crash or the growth with the same. Here too same seems to be the situation. As of now there is no big news apart from the news coming out of China. I don't completely deny China doesn't have any role in it, what is happening is a combined impact of China's play and the regular pattern of growth.

[Astargath]

There are some strong signs coming from China suspending cryptocurrency trading and make it illegal but Bitcoin had some rough weeks over the last months so this is a factor too. If something good does not come from China we will see miners capitulate and this will drag the price down even more so we must stay with an eye on the hash rate as well.

Who knows what the next weeks will bring into the markets but I don't think it will be good news with green candles ...and most likely we will see a 5k$ Bitcoin.

China has already suspended cryptocurrency exchanges and trading platforms in September 2017. This crash only happened because the bears were able to break below $7300 after weeks of downtrend.

[blckhawk]

It might be a factor, but it's not the main reason. Personally, I think manipulators are going with the news to strengthen the effect of their manipulation FOMO. With the news coming out, they took advantage to bring the prices down and people would think that the news is responsible for that, even though it's not. I expected these manipulation dumps to happen months before the halving near December.

[marcous]

This is nothing new, every time there is an increase of Bitcoin price, there is always a FUD that leads to speculation and scenarios so as to make prices go down instantly It is not uncommon for the elite or the whales ready to buy at low prices and then it will bring up good news so as to create FOMO.

[carlisle1]

lol why always china?did Chinese government owns the whole market?please stop being noob we all know that the volatility of cryptocurrency is the main reason why market comes up and down,it only added some news to have a impact but the truth is most of the time manipulation causes those.

weeks ago we are very thankful for what Chinese president says towards blockchain and crypto and now just because there is a small changing of trend the blame is towards them again?nope i don't think it is the reason behind this fall.