Topic: Flash Crash: Bitcoin Price Plummets $400 in Minutes as China Rumors Swirl - page 2. (Read 1300 times)

Exactly. I saw someone saying that exchange in China is selling bitcoin at $3600 so its really good to arbitrage. And this dip again is a perfect timing for those new investors who want to get into the market. However, If I may add that the timing of the news coming from China is very off because we just hit ATH then they release their news and then FUD waves began to swarm us again. But I'll just prefer to hodl instead of dumping my coins. No way I'm gonna sell just because of the news from China. Bitcoin will remain standing and this bleeding will end sooner.

the thing is so far i have never seen any of them talk about "banning" bitcoin. China specifically is mostly speaking about regulating it. as in preventing the money laundering through exchanges, preventing the scammers from ripping people off using ICOs and generally things like that.
and when money is involved (CNY) any services that uses fiat (aka exchanges) needs to follow the money laws. and that means regulations like that.

Wow! This is a big reality when we are in an open market as people can be reacting wildly even with unconfirmed news and just rumors. This is unique to the cryptocurrency market but also to all other markets we have all over the world. Now, maybe it is really time we learn to ignore China and refocused our attention to other countries more friendlier to Bitcoin.

China is a big contributor to the daily trading volume but it is not anymore the leader but Japan. We should be promoting Bitcoin more in Japan and other countries so that if there would really be a decision to close down in China the volume they have would not matter that much.

Cryptocurrency exchange platforms are illegal in China?So what?They were "illegal" before 2016 and that wasn`t a problem.It`s obvious that the Chinese government will sooner or later ban cryptocurrencies,but all the crypto owners and traders will move thier funds to Japan or other Asian countries.
The real problem will appear when  China bans mining.  

That's a nice opportunity to buy and possibly arbitrage before it climbs back again. The Chinese are notoriously good in creating fud without us noticing, and in turn we also buy into the drama ending losing our coins in their desired price. Currently buying some small amounts rn. It seems that it wouldn't stop bleeding in the coming days.

translation:

once again another vague news about China came out and the English news sites started exaggerating the reality after they used google translate to translate the real news. it finally turned into FUD and caused a 8% drop. now everyone thinks the world has ended because of 8% drop

lots of volatility good opportunity to make some trading money

That is a terrific opportunity for arbitrage ...

The bitcoin price collapsed $400 adhering to rumors that China was intending to earn it unlawful to run a bitcoin exchange within the nation.

According to a local economic site, China will certainly declare operating a bitcoin exchange to constitute "unlawful economic tasks". Previously this year, the country's central bank started keeping an eye on bitcoin exchanges extra carefully, leading several to fear that regulatory authorities would certainly soon shut them down. Ultimately, this did not happen, although individuals's Bank of China (PBoC) mentioned it would continuously perform on-site evaluations.

Nonetheless, the PBoC has started to punish tasks within the cryptocurrency room. Just this Monday, the bank ruled that first coin offerings (ICOs) were prohibited as well as purchased startups to return all crowdsale funds to their investors.

The marketplaces had just started to recoup from the sell-off that the ICO ruling launched, yet today's reports triggered the bitcoin rate to experience a flash collision. At 13:20 UTC, the bitcoin price was trading at approximately $4,619. Within 10 mins, bitcoin dropped to $4,224. Presently, the CoinMarketCap average bitcoin cost is $4,265.
bitcoin price


BTC Price Chart from Bitfinex

On some exchanges, such as Bitfinex, the bitcoin rate has actually climbed back over $4,300. Nevertheless, BTC/CNY is obtaining pummeled on Chinese exchanges, compeling the ordinary price down. OKCoin, which accounts for greater than $90 million in day-to-day bitcoin volume, rates bitcoin at $3,815-- greater than $500 listed below BTC/USD on Bitfinex. The coin is faring even worse on Huobi, where BTC/CNY is trading at $3,794.