The announcement has again affected the price and currently trading at $3300. But we all know that with or without China, Bitcoin price will go up again, but it will took longer as expected. I consider this news as another bleeding for bitcoin. But hey, this is a good buying point and just Hodl and not be nervous from all of this dumps. Let China sell all their bitcoins, so that others can come in and ride the hype train.
Current dump in China has gone way too far now. At some point the market will likely get bought up due to people wanting to get their funds out of these exchanges as soon as possible. In the extreme short term (few days), we might see the Chinese market go down a little more, but we've seen the worse, that's for sure. The entire community acts like China is Bitcoin, and for that reason are panic selling like there is no tomorrow, but that obviously isn't the case - the empty headed people just need to realize that. Regarding BTCChina, it's quite sad to see them having to halt their Chinese activities, but it is what it is - we'll overcome this without much problems, it might only take some time. I hope they manage to relaunch, but then as Hong Kong registered exchange. I would like to hear from BTCChina if they are open to consider this.
