Big Governments Are Crushing Cryptocurrencies -- Bitcoin Down 10 Percent - page 3.

HotCryptoNews

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Quote from: Denker on September 05, 2017, 04:17:02 AM

Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

Do you know how dumb that comment is?! Governments crushing cryptos??? Ehhmm NO! It's all about ICOs! Just ICOs! And only in China! There are a few more countries out there I would guess right?! The market is overreacting as we've seen so often when you some news came out which may only influence a small portion of the market in the future. Nothing of a big deal. Just a dip you should take advantage of. That's it!

yeah it is all about ICO's but it is having an affect on crypto, i agree though - governments are NOT crashing cryptocurencies Grin

its already recovering anyway

Denker

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Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

Do you know how dumb that comment is?! Governments crushing cryptos??? Ehhmm NO! It's all about ICOs! Just ICOs! And only in China! There are a few more countries out there I would guess right?! The market is overreacting as we've seen so often when you some news came out which may only influence a small portion of the market in the future. Nothing of a big deal. Just a dip you should take advantage of. That's it!

alyssa85

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Merit: 1088

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Quote from: Kyraishi on September 05, 2017, 03:02:49 AM

Well it's really only China. ICOs are still legal basically anywhere else in the world.

But yeah, this move from the Chinese government has significantly undermined the current pump. Price was almost at $5000 before the correction came that brought it down to around $4700, and when the news came out again the price went down to sub-$4000 territory.

Though price seems to be rebounding back and i think that this is going to be the start of another bull wave - albeit the new regulations. Even though this brought crypto investors nothing but bad news, it actually helped bitcoin get out of a pretty big bubble that was just waiting to be popped.

Yes, and China is only one country. Most of the wealth in the world is in the west, and the west is still pouring money into cryptocurrency.

timerland

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Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

Pretty devestating losses but it was coming either way.

Markets are going to be especially fragile when the price is in a bubble, and any negative event could mean a 10+% dump off.

Still though right now the price is recovering pretty nicely. Wouldn't be surprised at all if by the end of the month we see another bull wave that rides bitcoin to over $4700 again. I don't think that we have seen the peak of the bubble just yet.

Bitcoin dominance is again rising, which is good.

Kyraishi

hero member

Activity: 952

Merit: 513

Well it's really only China. ICOs are still legal basically anywhere else in the world.

But yeah, this move from the Chinese government has significantly undermined the current pump. Price was almost at $5000 before the correction came that brought it down to around $4700, and when the news came out again the price went down to sub-$4000 territory.

Though price seems to be rebounding back and i think that this is going to be the start of another bull wave - albeit the new regulations. Even though this brought crypto investors nothing but bad news, it actually helped bitcoin get out of a pretty big bubble that was just waiting to be popped.

SamboNZ

sr. member

Activity: 1064

Merit: 253

Yes the world government is crushing cryptos, you should abandon ship and move on.

they cant stop cyrpto only the way is to cut off the internet.

yishak

full member

Activity: 269

Merit: 100

Actually, bitcoin is now down by 20% . The price of bitcoin is now around 4030 dollars Embarrassed

. Unlike what @HotCryptoNews said I agree that big governments like China are crushing bitcoins.

HotCryptoNews

newbie

Activity: 25

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Quote from: sanjeev.lamani@ on September 04, 2017, 02:19:19 PM

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

I don't believe this is a "crash" as you say, its simply the market adjusting to change, its like an eco-system, it has to balance out in times of extreme change but it will correct over time, a really good time to be investing I'd say !

sanjeev.lamani@

member

Activity: 63

Merit: 10

Big governments are catching up with Bitcoin and other cryptocurrencies. And are crushing them.

A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding.

That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74 percent, Litecoin 24.92 percent, and BitConnect 32.10 percent.

Coin/Investment Trust   Change 24H*
Bitcoin (BTC)   -9.84%
Ethereum (ETH)   -21.74
Litecoin (LTC)   -24.92
BitConnect   -32.10

Topic: Big Governments Are Crushing Cryptocurrencies -- Bitcoin Down 10 Percent - page 3. (Read 1818 times)