Topic: The price drop has nothing to do with the fake chinese news (Read 1038 times)

If you buy at 4100 and sell at 4600 you can make a lot of money, too.

Yeah and while looking at your own avatar I realized that you are correct...this is fake news about the fake news no more no less. But this is how an open market is operating...rumors can be the basis for a big sell-off because some can be afraid that rumors can come true. Soon we will know how true these rumors are...but I prefer that instead of China banning Bitcoin it should be Bitcoin doing the whole thing...let us all kick China out!

After media tried to justify and then some speculate that China will ban bitcoin, make it worse.
On the other side, it is a good time to buy more cheaper coins, always there's another bright side for every dip.
All we have to do is waiting to extract the profit from this opportunity, because in the end, bitcoin will always recover and reach another ATH.

Since is a bad news many wales tried to take the advantage of it by sell off big amount of bitcoin and others cryptocurrency that cause that heavy dropped in a minute. I do believe that this fake news emanating from China because they have been the holders of large value of bitcoin and ethereum and this was done to create an opportunity for them to buy cheap. We need not panic if we knew how this people manipulate this market and using governments and medias to cause panic to buy low.

I think many people sold coins in a panic after seeing the fake news. After prices go down to 4100$ now, it is slightly recovering. It looks like it is not done yet so if you're planning to buy back then start with smaller quantity because you may get a chance to buy at even lower prices. But don't sell your coins because the wait for the time to sell at higher price.

It may also be due to the fake news circulating about China banning the exchanges, some people are so naive to the extent that when something minor they are all quick to sell and they don't even research to see whether the news are correct or not. But if a big whale was selling shouldn't he have done that when the value was almost $5000 that seems more reasonable.

And what's the reason for today price drop of all cryptocurrencies? Is it supposed to be the same like it was a week before?  

The quality of the news today is really poor, people keep on repeating a news coming from some source (being lazy or trying to ride the story ) without verifying it.   Mainstream media only lets us know what they wanted us to know.  There are lots of untold true story but they kept it secret since it will affect the entire nation.  Just like what they bring us every day.  Selective news, I bet news in deep web is far more true and factual than the normal internet.

there has been no announcement from the government. the major exchanges have all confirmed that they have received no new regulatory orders since the rumors emerged yesterday.

not the headline i wanted to see this morning from Reuters top news, though. they based the entire story off the Caixin story, which is all conjecture with one anonymous source.

time will tell, but i think this has been misrepresented.

Actually this is nothing new in the world of markets. That is why there is the old saying "buy the rumor, sell the news". It is well known that there are great interests behind all this rumorology that tends to circulate uncontrollably, causing disquiet and panic sell-offs. But we should already be accustomed to it. Since I am involved in this economy, rumors tend to emerge from time to time in a cyclical way, announcing the imminent death of bitcoin. The only thing that changes is the name of the David that supposedly will be in charge of killing the giant, in this case China.

Was there any announcement from the Chinese government? I don't think that there was one. And even if there was an announcement regarding crypto-currency, I think that the mainstream media twisted the facts and misrepresented the news.

Even the media's claim wouldn't justify the price drop.  If it were true that China were banning ICOs, it should only affect ETH and ETH-based tokens, not Bitcoin or the rest of the coins.  In fact, 8 of the top 10 coins are completely unrelated.
If the whale is clever, they wouldn't just sell out of the blue.  They would directly influence media outlets to produce those articles at a similar time so that they could be sure the price would drop more.
It was a wall, so it was most likely just one entity rather than any change of public opinion.

I may see you there then. A forum with free speech is always appreciated.

If it is not fake how come price has recovered again in 1 hour?

Everyday humors are killing newbies...

OK! See you there: https://forum.bitcoin.com/bitcoin-cash-f119/
... you go first.

Bitcoin Cash is the real Bitcoin. Trying to help people inside this echo chamber find out before it's too late.

Oh how I wish the news about China was fake...  but it is legit.  This isn't just a few news outlets in the US reporting it, it's news in China as well, not just from the media but from speculators as well.  The thing about anonymous currency is it's almost impossible to find a way to impose a tax on it, and they hate that perhaps even more than the US does.  Or at least, here in the US, thankfully, they still respect people's right to privacy... not like they used to, but votes in their next election depend upon creating the illusion that they do.  And nobody wants to be the one to bring down the axe on it.  This problem doesn't exist in dictatorships... or at least countries that call themselves democratic but are really still dictatorships. 

And it seems like every day I hear about a new country that's at least exploring ways to regulate it, not ban it outright. 

It's not "hype" that is determining the value, that has oh so little to do with it.  It's never that simple.  But legit, and unflattering developments.  And lately there have been many.  Not to mention the uncertainty regarding Segwit and the upcoming hard fork that will more than likely go through this time.  Confidence is what always drives the price, and there are many reasons for people's confidence in BTC to be shaky these days.

Then why are you here in this 'shitcoin' forum instead of trolling around in some 'truecoin' forum?

edit: Probably hard to find one with a big community, but you might feel like at home here: https://forum.bitcoin.com/bitcoin-cash-f119/

edit2: ... or here: https://bitcointalksearch.org/topic/anndoge-dogecoin-very-currency-many-coin-v1100-361813

It's about Segshit/Core coin being a highly overvalued and useless shitcoin.

It's the media, which is looking for a reason for the price drop. If some anonymous whale sells a big amount and as a result the price goes down, the media will search for a reason and grab any big bad news to justify the drop. Then other lazy media writers repeat this fake news and then everybody believes it.

This is fake news about fake news.