Bitcoin banned in China. Did it affect the price? - page 6.

DeathAngel

legendary

Activity: 3332

Merit: 1617

#1 VIP Crypto Casino

Quote from: Fourgh on September 18, 2017, 02:56:23 AM

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

The news from China certainly affected the price, thankfully now though all the weak hands have been shaken out & we are now returning to near the previous price.

weblouartisan

full member

Activity: 448

Merit: 100

Lets Go Adab

I think that the ico's that has been shutted down in china really have a huge amount of bitcoins that has been contributed that is why it is really affecting the market. But there is a good news that they will legalize the circulation of bitcoins in china so i am sure that the price will rise again.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

I wish someone counted the times China has banned bitcoin. the number is lost throughout history. I have counted 4 times already that the Chinese have allegedly banned bitcoin and each time it affected the price greatly like this last week. of course each time it was a stupider FUD than the last. but the effects of the FUD have always been the same: https://bitcointalksearch.org/topic/china-banning-bitcoin-is-the-oldest-trick-in-the-book-2187358

and it always disappears after a short while and bitcoin goes back to normal and starts rising even faster than before! because everyone has gotten a lot of profit and the FOMO begins when price rises and everyone accepts that it was really FUD.

L

full member

Activity: 182

Merit: 100

I hope it will impact even further, my sub $3000 bids ain't going to fill themselves, we need another panic selling spree. Cheesy

Regulatory uncertainty was always present, Chinese people cashing out massive amounts because they are required to, that's new.

freedomsr40

sr. member

Activity: 471

Merit: 500

I remember chinese volume represent something like 7% of global trading volume; Japan now is >50%.

So I don't think the impact will be that big.

As for the price, as you can see, it recovered already, that is a clear message from the market that the impact was not big.

kevoh

full member

Activity: 448

Merit: 110

But it was obvious China's ~~ban~~ regulation of ICOs and Chinese exchanges lead to panic sale of Bitcoin. There was a lot of FUD that caused a dip in the price. Undecided

metenjean

full member

Activity: 854

Merit: 140

It did affect the spike, but i think its just another news to make people panic because few days ago there is another news about the banned is only the exchanger with the RMB / Yuan. But the exchanger with USD still accepted, and i dont think it will last for long

Eigbe97

newbie

Activity: 1

Merit: 0

Nigger, I dont actually see that as a reason why the price of Bitcoin should drop

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: Fourgh on September 18, 2017, 02:56:23 AM

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

I think there has to be an effect as stock market prices are affected by a lot of variables and one of them can drastically lower or higher its prices. Being banned its china really struck a blow to the development of bitvoin but there is still hope.

Fourgh

member

Activity: 196

Merit: 10

Bitcoin's buy and sell value dropped dramatically over the weekend. Has China had something to do with it?

Topic: Bitcoin banned in China. Did it affect the price? - page 6. (Read 1659 times)