Topic: Did China really crash Bitcoin again? (Read 765 times)

I think the main reason is not the news, but the fact that Asian investors and traders, those including in China, have started to sell their bitcoins before anyone else.
It created an avalanche, or a herd instinct, if you will, and caused people in the other parts of the world to sell. It is FUD at its best and it turns out the raid on Binance offices came out to be fake.
This space is still Wild West with buncha gunslingers, but it is way more mature compared to some 2 years ago.

It seems to be a scapegoat. It also seems that most people, including analysts, tend to ignore the fact that the market sometimes moves abruptly in one direction without any external factor.

Yes did, I think China have make crash of bitcoin price again and again, every time when bitcoin on higher or lower price always have China behind of bitcoin price, when bitcoin have raise up to higher price China president behind to make bitcoin up and now when bitcoin down I think China have speculative to make bitcoin lower price.

Why blame China for all the troubles?In any case, those who had significant assets were guilty of a market collapse.But agree it is absurd to think that all the rich people live only in China.

We do not know if China is really causing the price to fall today, but if we look at the circumstances today they are very obvious. Because we can really see the impact of bitcoin price on every move they just show they can manipulate the price.

From the announce of the chinese president and the fud today at the Binance office.

The downward bitcoin price trend can not be attributed only to the Chinese police  raid of Binance office in China, some crypto mafia see this as an opportunity to spread falsehood and cause a price dump, while they themselves buy low and would later take profit. This is always the case, crash it, buy low and blame external forces, come back later to take profit.

I don’t think, most likely China will now, on the contrary, positively influence the development of the cryptocurrency industry, today I read that China is starting to introduce crypto into the legal framework. https://neironix.io/news/china_searches_for_cryptography_law_breakers

In my opinion, it is not the Chinese people who cause the decline of the Bitcoin today, and for me, it is most of the whales preparing for the big market price hike in the latter future. Because they believe on the effect that the halving could do to their investment. And investing would be more efficient if they let the market price of Bitcoin fall, so they can buy the dip and wait for the halving to happen. That is the information we should be aware not to feel worried about the current market price of bitcoin.

I dont think that also. More on this, people always try to explain price movement in any way they see fit.
Price movements depends on so many little reasons thats its impossible to predict so also impossible to tell why it move that way or the other.
Just accept it, its easier that way, it will go up, then down and up and down

There is no way for us to verify what is the main cause, there are always theories when bitcoin crashes or rises. It could be the news in China, this could have been done by whales since bitcoin had been in a good run, or it could be something else. Nobody knows, but this kind of market situation had been normal for most people, especially those who had been through even more worse blood bath.

Any one know what happen whit bitcoin until today keep lower price? I not get bad news and not country update information to banned bitcoin as investment assets but why price bitcoin last one week keep down.without bad information I think bitcoin can be down like today and look not raise up to higher price, possible or not bitcoin come back to lower price again under $7000 or below.

This is why people should keep their crypto and fiat at half and half. This way they can deal with up trends and down trends. People seem to forget a down trend is just an uptrend in reverse and you can profit doing the reverse then too as you have just said. It is just some patient and believe in bitcoin or the crypto you talking about.

People need to understand by now. These kind of artificial crashed by other entities are only good for one thing, creating buy opportunities. If China crashed crypto, so what? Just buy it. Similar events happened many times before and every time it happened, all the average Joe's out there were expecting btc to go zero. It never happened. This time is not different.

People from China always found ways to buy/sell/hodl crypto. And they will! So, China is not the reason of crash.

Well, China may not have caused the major dump down to $7.5K but, China with has in the past almost always, (hell, always) when China thinks BTC exuberance has reached

too high a level slaps it down. This is a very common tactic. Indeed, on China promoting their own crypto coin and blockchain, it should have been no surprise the backlash

against Bitcoin and Altcoins.

So, I don't think the big dump was China. I do think the dump from like $7.8k to current $7.1k now contributed heavily and could indeed drive it lower, but I still think

'miner capitulaztion' is the real culprit and that will take 2-3 months for folk to realize that the tide has turned and their Bitmain S9's or equiv (about 60% of sha-256

miners if I had to guess) are gonna fall off the network. When that happens, I expect a pump in price again, with these 'boat anchors' cut loose.

as always we will see

brad

it's the same trick at 2017-2018 when china grounded bitcoin when they are biggest bitcoin owner.
dump and buy, then pump and sell, I don't want to but follow them, you'll get money, not as much but still got money. I often cut loss but still make money when buy at dip

Bitcoin price are manipulated now and china are not connected on this downtrend of bitcoin,  maybe whales do some FUDs and now weak hands,  small investor are force to sell their bitcoin on cheap price to cut their losses, 

And I think whales do this to buy big bulk of bitcoin when they see the target price to buy cheaper bitcoin..  And when this happened whales are started to buy and this will cause now panic buying, 

There has been a lot of decline and growth in bitcoin in recent weeks, but China should be blamed the least. There are various ways and possibilities of bitcoin volatility lately. I have read a lot of news that is "spitting" on China, due to the decline of bitcoin, which is very annoying, but I think the people are still normal, to realize that China is not to blame.

No I don't think it's China , it's not only in China that Bitcoins is getting bad news now a days , we should at least stop blaming only one country unfortunately some countries now are not emerging as a fan of Bitcoins and they are actually creating problems for it and this recent crash is all of that summed up together and not just something that could have happened from one side only and we should understand that a whale does hold a huge amount of power over this too and it could have been done by them.. who knows. ?

I do not think that China is the reason why crypto crash.  Even though they released that news, it is only limited to China and not to the entire world.  I believe that people who wanted the price of BTC to go down took this opportunity to crash the price of BTC and accumulate at the bottom.  This is a mere manipulation and we can see another rally after this accumulation is done.

Yes. I agree with you, for sure bitcoin price will increase by 2020 better not to sell bitcoin,whales always does this,  better hold bitcoin  for few weeks. Definitely will find bitcoin increase

I'm not too sure if for example the price of bitcoin goes up or down it's caused by the drama of the Chinese state but this might be caused by certain factors directly related to bitcoin, honestly now some people are confused because every bitcoin price goes up or down there is always news that say it's caused by the country of China, is it currently only China that adopts bitcoin? of course not.

Well, possibly a correction added with fud news from China is just a coincidence. I don't believe that Binance is the sole reason for this is what the media portrays. Sooner we will see a bitcoin recovery, adding that next year is halving event. This happening is a good opportunity to buy to accumulate.

China always make drama with bitcoin, last several weeks they have make bitcoin come back stronger price after China president want to legal using bitcoin as currency payment, but now we got confirmation about China have make bitcoin crash and down. I don't know why China have big power to play bitcoin price, they can easy want to make bitcoin have higher and lower price.

We are just getting to the price before the china announces their support for Bitcoin. People over hyped it which results into a pump of $10,000+ but when China released a statement that they only support Blockchain, people suddenly pull out. There's no theory or anything like that happening, we are just having a correction.

Yes, it's funny because some people think China is the cause of the fall in the price of Bitcoin. And they should not be easily consumed by news from the media, which sometimes write speculation on the news. We can say this speculation as FUD.

We can't deny that China has a negative response to Bitcoin and the whole crypto because of their personal interest. As they would like to take care of their territory, they give everything just to stop the crypto spread in their area https://japan-forward.com/crytocurrency-control-boosts-chinas-expansionist-strategy/
And one thing that China never accepts crypto now and even push to close all establishment accepting Bitcoin because they want to control and imposed regulations on it which they can't.

I think China is partly to blame because Chinese like to speculate a lot and any small news in their country affects the price. I am Chinese so know the mentality quite well. Also, China is at war with Bitcoin, it is a love and hate relationship. Chinese like to make money form Bitcoin but equally despise it due to the fact that it was not their creation. I think these two reasons are why Bitcoin right now is not sitting at at least 30-40k USD each in value.

This is not new to me since I've known China to make certain rumors to make the public react against it but for those people who knows the truth will continue what they are doing or take advantage of this rumors. Although it is not just China has been doing it since it is also happening in different parts of country where fake news was spreading all over the place even in the social media.

I think the rumor remains as a rumor, the reality came out that those news about China and Binance raid is a fake one. That's why CZ will sue the news media, the block.

Binance CEO Speaks Up Against The Block; There Was No Raid

This is too much for scattering rumours i guess since China is always on the blame. Lol Can we consider a little bit about of how the market would bend back because why not. After all this is just a free market where whales and people like us can do anything anytime here. And i don't think China will make a big effect on the market anymore if ever they would certainly crash bitcoin because first of all, they don't support it.

Indeed. We should not put all the blame to China about the recent crash of bitcoin's price because it is pretty normal for a cryptocurrency like bitcoin to have ups and downs to it's value. I think the only cause why bitcoin's price is starting to go down is maybe because of halving that will happen this 2019 that it will start to reach it's price again to $20,000 again

Chinese president statement on blockchain was main reason of recent rally in which BTC went upto 12k. Market has to settle after that hike, we can say that China is also responsible for this fall

There will always be many weak hands that will be guided by the news, it is also notable to note that China is looking for attention, this to prepare the ground for its cryptocurrency that will be launched soon. This news does not seem to be "Fundamental", some sell their cheap Bitcoins for lack of knowledge in the field of investment in the market, perhaps the panic takes advantage of them, this is a great opportunity for the purchase of Bitcoin, because in general, it is in the beginning of Bullish Trend following Wyckoff's theory.

Really funny how people starts to blame other countries with no specific facts that can back up their claim. Why do you really think China has caused that crash? Any recent event that caused people to panic and sell? If it is really because of China, then this crash is just temporary. It will recover in few days after things starts to settle.
We have seen these ups and downs of the price from the very beginning. This is nothing new over here. So spreading false news about "China" banning exchange and other bullshit news should be stopped.

Exactly,  China can't be the cause of crash in the market value of bitcoin. The raise and fall of the market value of bitcoin is just the nature of the decentralized nature of bitcoin.  The real reasons for the crash of the Bitcoin market are not really known and no one can actually tell the real reasons.  I believe this is just FUDs to cause faint-hearted holders to sell their bitcoin.

In my own personal opinion, bitcoin's price is volatile that we can't predict when will the market goes up and down, that is why we can't blame everything to china about the down trend of bitcoin because we are really in the season of the bear market. I also think maybe the reason why bitcoin's price is down today because it may be the start of bitcoin halving.

Initially though it was not that evident until everyone realized that it was too late. The pump was very artificial but everyone was very happy to see the price jumps above $9200 specially after the Chinese president statement. But since everything has settled down, it's obvious now that it was sort of misleading and confirmation, Chinese Central Bank Confirms Anti-Crypto Sentiment: Blockchain, Not Bitcoin.

So be it, let this be another lessons to learnt in this very evolving market, we need to read between the lines.

I think there are actually whales that control the price of bitcoin and they keep it up depending on every Chinese statement and action, Whether it's good or bad.

But why would they do this to show that China has the power to overthrow bitcoin? or the china itself is doing it and they have a secret agency in place, or these whales are connected to China.

You have a point we can't just blame all the movement on China. They are the biggest country yet the most populated throughout the world but this doesn't always mean they are the reason behind this crashes and uptrends. Actually there's no one knows what is the specific reason all thoughts are just theories if it has no any strong evidence. My theory is that whales are getting more Bitcoin because halving is getting closer.

So you believe the increase from $7400 to over $9200 was pure luck? Was it something normal? and coincidentally increased from $7400 to over $ 9200 just as the president of china talked about blockchain and days ago china said it is still implementing hard measures against bitcoin and the price has dropped to the point of going back to $7400... This is not coincidence, even if some people insist not see the obvious that China has a large influence on bitcoin price. when President Donald Trump and the Chinese President intensify their trade war, Immediately the financial markets react, why would we not believe that the statements of the Chinese president affect the price of bitcoin?

I think that was just a fake news. But it really damage binance's credibility because of this FUD. But somehow make sense because Binance is a major and top cryptoexchange out there. For sure this made people especially the users of the exchange panicked sell and get the hell out. Not sure about bithumb tho.

Fake news are gathering now pointing those weak hands and panic. but we couldn't prevent this news to spread everywhere. we should believe to the true strong ones that hodl a huge bitcoin to hodl no matter what. a lot of news regarding china too that affect this current situation so we need to be more knowledgable to bypass it. we also should keep an eye to market and observe the situation until the fake news will fade and all panic sellers back again.

it says unlikely so i also think that its not really because of china on why btc fell down   .  also i heard alot of bad news lately that can be linked properly on the down fall of the cryptos    .

  besides , china was not new about thier issue with cryptos but i think thier own issues were always contributed some down fall on the price   . my expection for this year was suppose to be good but the more that we are closer on december , the more problems we are been experiencing .  too bad .

There are many news popping regarding this bloothbath that we are experiencing but none of them seems really be the reason, it just happen too fast, all we can do now is to hold and wait and see till how much it will fall and buy some if still have money to invest to take this dump as an opportunity.

It's not people, it's bots.

Keyword traders. So the word "ban" or "raid" in connection with bitcoin, exchanges and cryptocurrency in an article will trigger a sell.

"Approval". "positive", "legal" in connection with bitcoin, exchanges and cryptocurrency in an article will trigger a buy.

Then all the stop losses get triggered (whether long or short) and that will amplify the move.

It's a nutso way to trade, but keyword trading is rife in both the forex and cryptocurrency markerts.

I got update with fake news make by an exchange market how to make many people have to sell bitcoin with lower price, I don't not is true or not news because with this situation have lower price right now, I think many people keep panic after bitcoin down and sell with lower price, how long waiting with bitcoin come back again to higher price and can get profit again for investing with bitcoin and altcoin.

China has been against crypto for years now, so its not new if they will still stand with what they believe until now.
They are pro blockchain now but they are not pro crypto, as they still continue the crack down.

There are a lot of rumors but closes rumor I read being the reason for crash is

https://www.theblockcrypto.com/post/47922/binances-shanghai-office-shut-down-following-police-raid-sources-say

however, it was just a FUD as Binance denied it, https://www.ibtimes.com/binance-bithumb-deny-china-police-raid-office-shut-down-2871463

There are FUD in the market, and if people will panic, that would cause a crash but without good reason why it will crash, for sure BTC will back up again.

Just to cause so much panic and to keep the price for dumping, whales are moving and make the market in favor to them. So many reasons yet no sure answer, even its China or anyone I still believe on bitcoin and i will not panic and sold at a cheaper price. People blame someone just to get the attention of small investors, well my advice is to stay focus and invest wisely.

Bitcoin has been really volatile since it's one of its characteristics and I don't think any country has something to do with it. Since China has been a part of crypto news, people are blaming it every time Bitcoin crashes but I don't think it's manipulating the market. Prices will always change so instead of concluding and depending on theories, let's just deal with it.

Bitcoin was really in a bad condition right now and I don't think that the reason behind this is because of China, why? Simply because we already know that the China was  already accept bitcoin in their country and in fact we really have a big evidence about that and it becomes one of the hottest trend in the bitcoin forum or news. Based on tha graphical chart of bitcoin which is actively changing we clearly see that it is because of the volume of bitcoin who is becoming so huge and also maybe the reason is the production of it because we also know that bitcoin mining was very bad nowadays.

haha that is what i wondering these days , people seems tend to become a good sheep , a good boy who follow every single media trap.

bitcoin price up blame china , bitcoin price down blame china again media said and people say yes! what a small-minded we are. get your brain work on research , do your own assessment enrich yourself with knowledge and you can be the one who manipulate the market itself!
there is nothing to do with china this time , it is pure an organic move possibly triggered by big whales.

making people panic sell as usual , this is a classic cycle , we should anticipated this, i did.

There are no legit news that effects the market dump, it may be because of the season. Some usually soebd preparing for holidays, some business men who might have companies cashout some to pay for their workers bonus. I just like to think it that way as many small business man in our area now is withdrawing in their banks for that reason. It's not alway about China, it can be because of the crypto cycle of pump and dump.

I'm focusing in technicals and not fundamentals. I'm a trader who only making decision through the price action of the bitcoin. The bitcoin is in the bear market so it is normal to see that the price of the bitcoin is crashing because of the high selling pressure. If you are going to observe the price of the bitcoin, it got breakdown again to its previous support.

Some say it's China, some say it's Trump to blame because of recent price dump. I don't think none of that is true and neither of them has anything to do with Bitcoin price. Such theories are not relevant to me and I don't think that any government or politician has the influence to significant impact the price. But I understand that Bitcoin users always need to have someone to blame.

We don't really know what is happening, I am just being positive that some whales are trying to manipulate the price, creating fake news and negativity for panic sellers to sell, and they win so far, still I know that they are just taking this opportunity to accumulate and for them to sell at higher price again, real people who knows Bitcoin will not panic at all.

This is what I was confused about during China showed interest in blockchain technology alone and no Bitcoin involved. How did Bitcoin price just pump right after it was announced by the Chinese leader when in fact blockchain and Bitcoin are two different things.
Is this a backfire by the wrong interpretation of the investors when the Chinese leader showed interest in blockchain?
I think it's just plain stupid when someone invested in crypto space couldn't decipher the difference between blockchain and Bitcoin.

It's not necessary that China is the sole reason for the current drop in price of bitcoin. Bitcoin has been idle from a few weeks and I think it had to show some motion and may be that's why it dropped.
May be the shutdown of Binance and Bithumb just boosted the drop further which caused a significant difference but we can never tell what's the actual truth.
Never believe media because they just show us what they want to and the information shown to us might be manipulated just like how the data on Coinmarketcap is manipulated too.

The news is too focused on China as if its only the reason why its dumping, we have to consider many news for the recent dump and its true that we are dumping since then. Bitcoin can go up high again, the dump will be normal for now and it will not go crash hard again, let’s just stop spreading negative news about bitcoin and we will go up.

whatever news china bans on bitcoin users or wants to create its own blockchain, i am a person who never cared about it and read junk news from cointelegraph or others, i prefer the analysis of charts that i use, so why is the price of bitcoin going down because it is the market is in bearish condition, I only wait for the next 1 to 2 weeks to get the answer

You cannot blame anybody on that. If you lost money, that's your fault. Successful traders and investors can earn money either bears or bulls. A friend of mine once advised me that if I am a bitcoin lover then I should sell it a high price and then btfd to have more bitcoins.    

I was never sure about the issue of bad or good news, the bitcoin chart has been experiencing a bearish trend over the past few weeks because it's time,
Today's correction is the beginning of a bullish BTC, and many professional traders know that.
there is no relationship of BTC prices that have been corrected because of Chinese news.

I think its not really China alone. We cannot blame them solely. Somehow their new practices or policies is affecting the bitcoin market but I believe there are still other factors. There are many influential countries too that may contribute in the causes of bitcoin downfall. Well, its just a matter of time. As we ho farther, we must also embrace these changes and downfall. Its part of the overall process.

sometimes this is our own mistakes as small investors as well,because the moment price starts to go down what we do is withdraw and have a thought in mind that "I will Buy back once the price goes lower" do you think this wont affect the market value?if tons of holders has this same thinking then what will happen?maybe the News about China may start the Fire but we are the wind whos blowing the fire to progress and be bigger and wider.

I do not believe that they will do that for a long time because we know that in China the crypto is very high in activity and the population is very large there will certainly be a lot of influence on themselves. surely there are certain things that are hidden about this so they can also make a profit behind it?

There's a participation of huge capitalist from China, of course the whales did a great contribution with this recent price recession. However, the predictions has been fulfilled badly to reality and has took a sudden outbreak which most people didn't expect to happen. Hopefully this opportunity will bring give some buyers a big change to own bitcoin once again at cheaper value.

Everything that has happened should not be attributed to China alone. We've been on a lackluster trading scene for quite some time now and it just so happened that the news regarding China clarifying that blockchain =/ bitcoin is timely to the expected downfall of the price. It could have been a lot worse though, but it seems that the bearish sentiment has taken a rest somehow and we're sitting quite nicely yet uncomfortably in the low $7000 range. The Chinese has a large influence over the mining scene, but when it comes to trading, I think they're not the largest of whales around.

Basically you have a good point, it is not the Chinese that mainly causes the decline of cryptocurrency at this time, but rather, we are on the same network and the influence of China on cryptocurrency adoption is considerably contributing that many people around the world engage in crypto through investment. Even though it is not the Chinese who sold a large volume of crypto, they influence the whales as well to buy, and right now after the increase follows the correction to the market price in which the whole world also contributes. Thus, we shouldn't blame any entities/country to be the cause of the sudden decline.

Lol. China always gets the blame for anything bad that's happening to BTC. Does the Chinese have that much influence over this market? I don't think so. Of course with how large the Chinese market is, it can have an effect. But not to the extent to crash the price. And I don't think this is a crash at all anyways. We've stayed for quite a while above the 9k mark and I was expecting a downward trend like this. We're giving China too much credit here lol.

What do you mean they aren't to be blame? They have a big contribution on destroying bitcoin and crashing it down. China Government are trash because they lead the downward movement of bitcoin. The reason is because they want to create their own cryptocurrency so they continue to make effort in dominating top crypto currency around the world. That's for the sake of money and power.

People are just looking for reasons that is why they considered China, again, as the biggest culprit for the continuing decline of the value of Bitcoin. This is getting to be unfortunate really that the market is allowing wrong perceptions and ideas to be entering the ecosystem but that is what free market for all of us. Of course, China is not really the reason for this bloodbath but what can we do if people are thinking otherwise? Rumors are always flying off the shelves and when a story or perception is sticking to the wall then it can really affect the market, the market that has already been weakened for the past many weeks. Remember that the recent big rise of Bitcoin was attributed to the statement of China's President on the blockchain (not on Bitcoin actually) and this kind of influence is really unnecessary as we should be China-free right now.

Why is it always the Chinese who is at fault for every movement of bitcoin in price? 
Are they the new owner of the blockchain? 

We should really stop this nonsense.
They might have affected the price for a bit but not entirely. As I said, they "might". Not sure. There is a possibility they did not affect it at all.
This is one feature of bitcoin. It jumps into different prices, it just leans on how the market will move.
Do not go way beyond it just because one upcoming strong 3rd world country said something about it.

It's not fair at all, Every time when Bitcoin Falls then people instantly started to blame China for this situation but It's not true, Only China can't handle this situation because Bitcoin is not a centralized platform which is controllable, So I think there is no connection with China for this purpose, I also think that in recent time's happening with Bitcoin is a normal scenario regarding this platform, I believe Some of the Big amounts of Bitcoin holders are the main culprit for generating this price ups and downs, Not only that but also they are always manipulating this platform for getting advantages by this flow, In this way, Some people gets confused and gets panicked, so those are either sell their stock at a lot rate or stop trading, that's why this situation occurs very randomly.

Even if they stated that they are not interested in Bitcoin and only on Blockchain, I don't think it will crash the market with this kind of statement, Bitcoin and blockchain go together if I am Chinese I will support my government move to create a new coin but I don't think to dump my Bitcoin because they don't believe on it, by adopting Blockchain, they are also adopting Bitcoin.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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?

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.

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.

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

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.

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

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.