“All” Chinese virtual currency exchanges must stop trading to remain compliant, regulators have announced.

Chinese investors became notorious for their short-term trading activities, which often influenced Bitcoin volatility in the past. The latest regulatory warnings produced a second mass exodus to p2p trading platforms such as Local bitcoins this year.

Reports from the Bloomberg and Wall Street Journal on Monday indicated that China is planning to stop the exchange of Vitussin and other virtual currency trading. Selling declined by 6.6% to $ 3634.82 per ounce, which was at 8:13. JPMorgan CEO Jamie Dimon said that this is a fraud. “If we had a trader who traded bitcoin I’d fire him in a second for two reasons," he said. "One, it’s against our rules. Two, it’s stupid,'' he said.It also hitted on the price.

image source: cointelegraph

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See what Bitcoin did in March and then in June. What do these two months have in common with September? They are all end of fiscal year or end of the fiscal quarter. There's a lot of Wall Street money in Bitcoin and they use it as a hedge and to shore up their accounts. It doesn't take many to take profit for the unwashed to panic. Yes, there were a lot of puts at 5k, it's a round number. The bigger problem is Blockstream aka Core vs Segwit2x coming in November. It's the Takers vs the Makers.

Do not forget, that bankers are extremely good liars. I guess Jamie Dimon has more BTC than all Steemians together. But he wants to strengthen the FIAT money (while he can) and in the same time he will get very low price for lot of crypto currencies.

It is all a game