Chinese Crypto Exchange Ban is FUD, Hopefully you made some cheap BTC orders!

in #bitcoin2 years ago

China banned BTC many times already yet still this has an impact on the markets. Maybe just because people want to get prices lower from time to time..

Anyways for now there is no official info from chinese government on this.

Actually all that is there is the exchanges will have to register - like in many other countires. Currently they runned as wild west and thats it.

NIFA (China’s National Internet Finance Association ) wrote that many exchanges hosting ICOs got many warnings and its time to legalize everything and put rules on that.

Also if exchanges in China would really get banned - that would mean OTC sales would be bigger and BTCs price could raise - since it would be harder to get BTCs.

Jihan said clearly.

So just buy cheap coins now or trade with leverage on ie


Worth noting that volumes in china dropped as hell. Now BitFinex rocks the volumes, with European Bitstamp as the second. Worth noting Bitcoin Cash vs BTC huge volume on HitBTC. People drop BTC for BCC there due to news. Jihan is big supporter of BCC. So who knows whats planned.

So do not panic, enjoy cheap BTC or check coins you like for cheap re-entries.

Follow, Resteem and VOTE UP @kingscrown creator of blog for 0day cryptocurrency news and tips!


BTC is not cheap. It is declining at this day after JP Morgan Chase called it as FRAUD.
I published it here.

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Thank you

Don't think that JPMorgan have much influence... China ban on the other hand :(

What?? No china is not banning crypto you're believing that FUD??? china is just regulating ICs! wtf man u guys are crazy! come on don't seriously feel bad because a number went down, u all know bitcoin is more than just a number it represents something extremely useful and will only keep going up, we all know bitcoin is valuable and the dollar is the fraud

Totally agree here. JPMorgan is not the reason for the price decline.

The price decline because the chart are made by long and short candle. In the chart we have support, resistance, fibonacci and others levels and it's obvious that the price need to hit this level.
It's called technical analysis and no graphics, even bitcoin, can be free from these logic

I want to think that, but it shows in trading ... then China banning exchange is added insult to injury.

Anyone who got out on the words of Jamie Dimon was an idiot. Obviously the head of JPM is going to discredit bitcoin; it stands to disrupt life as he knows it

I think the market laughed off the JP Morgan comments.

wtf yes BTC is cheap! it is declining because of weak hands, new investors, all the people who bought bitcoin since $3200 haha $its still up SO much from where it was compared to stock and any other mainstream investment bitcoin has been making people soooo much money i cant believe peter schiff tries to claim gold has been going up as if that is in any way comparable to bitcoins increase in price, they never ever ant to LOOK at the 1000% type increases or MORE that bitcoin and altcoins give! they make the stocks 7% yearly average look like a joke! bitcoin will go up 7% in a day! its crazy! People are freaking out over a TINY bit of bitcoin price being shaved off! Its all the institutional investors and dumb old people who have been recently buying bitcoin and now they sold it thinking they HAVE to listen to Jamie Dimon EVEN AFTER jamie dimon has a fucking ETHEREUM fucking conference HOSTED by JP Morgan in San Francisco , so he will be having to fire everyone at his san francisco office now, and everyone involved in signing up JP Morgan with the Ethereum Alliance....yeah Oh so JP Morgan thinks Ethereum is somehow different from bitcoin because of....blockchain??? yeah its fucked up that they try to separate blockchain from bitcoin! hahaha NO thats NOt how it works! altcoins all gain power from bitcoin and MAYBE steem is one of the few coins that can be separated over time but only with USD Steem pairs and steem to fiat gateways and bank deposits withdrawals like coinbase and Steem ATMs and now we just have Bitcoin and bitcoin fiat gateways so people need to see that Bitcoin is NEEDED for aLL crypto it IS crypto! Bitcoin IS crypto currency! the whole thing revolves around bitcoin period the end bitcoin is crypto u cant separate it, there's nothing else like bitcoin they won't be ABLE to create a sort of replacement for such a decentralized organic network lol i mean now they have bitcoin satellites so yeah

tell me jaime dimon, do you think that Bitcoin Satellite is just a fraud too?

JP Morgan Chase is the fraud! this is ALL going to blowback in JP morgan's face as people learn about the 2008 financial crisis and WHY bitcoin was invented in the first place!

Anyone who believes in blockchain and what it aims to accomplish, would not care what the CEO of one of the largest banking services has to say about it.

THIS was only a rumor that was spread widely and caused BTC and major cryptocurrencies down, and this makes investors and a lot of cryptocurrency holders makes orders to sell and automatically the price goes down so they play their game in the right time,,,
as it says ,,,Spread the rumoer, Buy the news and make money.

the coins do what they are supposed to do, i had my floor set at $3400 on Aug 22nd, way before this nonsense started, good thing i didnt try to use cryotosteve too, i see that that seat is taken

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very good comment "Spread the rumoer, Buy the news and make money."

The Chinese government interferes in the bitcoin industry to seek future bitcoin speculation and become potential market drivers in the future. Therefore, the bitcoin price will increase above $ 5,000 by the end of this year.

Yeah I'm just waiting for the dip to hit the lowest it can atm and I'll purchase some more

$3400? where you got it?

Btcoin price is going down
Good poste cheaper like please

This is the tokens that will grow. Proven by solid ecomomists. For the new exchange on October WCX offers a pro experience with 10x lower fees guarantee , Get yourself 50 FREE tokens!!! (10 WCX = 1 USD at ICO price),

what's an ecomomist?

Seems like it'd be a scientist that studied women who have begun to spawn while involved in Earth First...

The floor is gonna be somewhere between 2750-3000. Honestly, by the time 2018 rolls around, that price is going to be a fucking STEAL

FUD = buying opportunity. All this govt nonsense just uniting bitcoiners. Thank you China and Jamie Fraudster Dimon.

Good article, thanks for the info, definitely worth an upvote from me.

Bought mine yesterday. Should've waited till today....Oh NOOO...Might it be lower tomorrow?

If so what are you buy prices?

check out my post too much to explain. Good luck though!


So much FUD everywhere! You hit the nail on the head with this article. People want Bitcoin at cheaper prices and will do whatever they can to get it

Looks less like FUD with BTCC announcing they are shutting down. I suspect the Chinese government will not shut all exchanges down, they like control and will pick a couple to stay in business.

BTCChina is #2. I haven't heard anything from #1. If they're not shutting their doors, then what does the BTCChina news mean?

This ban is just for the normal citizens but not the govt. Their rules dont apply to themselves. Since this has alreday happent several times we know that the ban is temprory. While people are banging their head over the ban the chinese govt will stack up more coins slowly and slyly and release the ban once they are fully invested. As it would be trending then the price will rise so much. Its like a sick way to play but as we all know when it comes to money and power everything is fair for the governments :)

noting will stop BTC now its to late to stop it from going and going and going higher

Bunch of FUD News from China!! They are buying it themselves 😂

Being in China right now, I can tell you this the crackdown on ICOs isn't a true crackdown either. Companies are still distributing tokens but with a certain requirement. China is smart.

Exactly what I thought when the news broke. They would not ban and loose the tax to another country.

exactly. That should be their plan.

This has been a concern for the past couple of weeks, and it's because of rumours spreading China will ban btc, will ban cryptos, will ban ICOs, will ban trading/exchange sites, etc.. I wish people could do more research and hold for their btc. If people invested in btc believed in the potential of cryptos in the first place, they would know it will never bubble.

Well, I'm not really an expert with cryptos. I am actually a noob (1 month old) 😂 But I do believe in the future of cryptos. I just hope people in this industry will trully believe in it too!

Nice post btw, followed you! @kingscrown

Nice comments, Followed you!

just got myself some cheap bitcoins, its a good entry point for new commers

Bitcoin value reflects the exchanges credibility worldwide.

im loving this price drop load up folks next big hedge funds will begin loading


But... but... if it drops a little further... and stays there for a while, maybe I can pick some extra up for the cheap!

I wrote a post yesterday(link) referencing some articles from Chinese news sites, which should help to ease the FUD. Word in those articles is that exchanges won't be banned, but will be placed under increased supervision. Maybe some shady exchanges will get shut down, but I personally don't think the reputable ones have much to fear.

Why does government always insist on shitting in the bed.

The Chinese government meddles in the bitcoin business to look for future bitcoin theory and end up plainly potential market drivers later on. Hence, the bitcoin cost will increment above $ 5,000 before the current year's over.

According to my technical analysis we could see a rebound from this levels, may be up to 3600 and then it will go down again. That is the short term. On the medium term we could be completing Elliot Wave 4 which means that only Wave 5 left before a long term bear market starts.

Here is my technical analysis

Well you can believe the lovers of bitcoin definatly did, which includes myself!!! ahh this is going to be fun when it rockets back up hey.

China hit hard crypto market, like drop is real

I've read everything but this seems more questions than answers (well I know no one can tel for sure). The only thing I found so funny is that when I used to trade earlier, the currency would be different, some up and some down and you could play it. With the latest developments, new to me, feels exciting at all prices, since all major currencies are down almost as much as the percentage, and when they start climbing a bit, they all do it at the same time and almost for the same value. . Looks like you are the one who asks: maybe the cause of such synchronized movements? "Because no one else has not proved successful, no triangles, or Fibonacci has sense and the currency just acts weird and chaotic @kingscrown

The JP Morgan CEO, James Dimon, called Bitcoin a fraud and also drove the price down. Funny thing is, JP Morgan is part of the Enterprise Ethereum Alliance. Also, why would anyone want to listen to the the CEO of JP Morgan? He has everything to lose with the expanding availability of using an alternative currency.

I believe he's involved in an blockchain open-source ethereum platform "Quorum". This is actually the 2nd development out of the JPM . The other one "Juno"

china is banning bitcoin trading anx the biggest exchange in china confirms it. you would have received the emails regarding it if you have id on anx exchange.
it is start of falling bitcoin

As expected it's FUD, no way Chinese government ban exchange while majority miners is in China and China have some power in exchange volume, mining/pool percentage and ASIC manufacture.

Nice info and time to buy cryptocurrency with "FUD Discount"

I am continuous on checking BTC and other Alts, when I am confident they hit rock bottom I will pop a few more dollars in the market and see what I return... This wont last forever, and it possibly has more potential now.

I got to buy both bitcoin and bitcoin cash today. i think i got a good deal.

Not a good time buddy, it may crash again

ill keep buying then all the way down.

I know right? its amazing how volatile these markets are. i have to say i actually love it , i know next week it will be back in the green and fear will suddenly turn into an overly confident market. maybe it wont be next week , maybe next month, but we all know it will eventually bounce back so the lower it goes, the more i will buy...

Speculative value?
What is EUR value based in?
What is USD value based in?
Really? Nope.
They are all speculative values ever since they included "the country's economical power" in their money.
We'll all be like Donald trump evaluating ourselves at whatever fucking value we want!
Honestly People it's a scam on the goverment's side to try and sway your interest from virtual currencies that THEY have no say in what value they hold!

That and the dipshit JP Morgan article led many to panic. This is just a correction. Chill, people.

Remember when BTC hit 4500$ we say " I hope I have a time machine so I can buy more BTC 2 months ago, well this your time machine now!" Dont be afraid of this FUD, this is Christmas time guys, everyting is on sale. Everything will go back up very soon.

preety impressive work

Smh this is their way to buy on the low

One way to break all the cowards psychologically !
glad you saw this from an outer perspective

It'll likely go down more until the first Chinese exchange re-opens with a license, at which point say hello to new highs :) @originalworks

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Good job
I like it ...plz vests send SBD ,steem n follow me @mudatnad
Thks u
Good luck today

thanks for the info, whats your take on other crypto currencies especially ripple

FUD is the worst. But its effect should diminish over time. China is a huge world economy. But even they will not be able to stop crypto even if they decide they want to.

Eventually, exchanges will all be decentralized. Decentralized exchanges + decentralized currency = freedom from control. China will have to shut down the internet itself to stop crypto...

Follow @reedus for content on cryptocurrency, fiat investing, healthcare, et al.

Everyone know that price is going down and will go up in future so better to invest in cryptocurrency !! opportunity !!

Awesome post but @kingscrown!!! @cryptosteve ? Rumor?WSJ sourced this news if i am not wrong and there are many other reports all over claiming the same! I dont think they are rumors! This thing is not really going good i feel! and in the mean time there are financial experts like Jamie Dimon stating trading bit coin is idiotic, its could be a big mess up! I posted something about it yesterday or you always have the internet! :)

At last, some sense. This is the 2017 end of year sale so you best get your shopping hats on cos we aint seeing these prices again!

Thank you China !

Thank u for the cheep coins !

That is what exactly should loom these days on the internet
I can not say more.

yes, this is not the bad time, but we can utilize this moment to invest.

Thaks you information, Mr.

This is just temporary. People of China will find a way around all this. Many Social media website is also ban there but people find a way to use it. These guys dont understand that it cant be stopped.

Double checked this definition again earlier to make sure, this noise is all FUD. Realistically speaking, your centralized bank that your held by, feed and fined by, does not want you to invest in any cryptos whatsoever. So why would it be any different for China? Cheesy but, keep calm and carry on guys.

Good article, thanks for sharing!
If you are interested in Crypto, maybe check out my channel and follow me if you like it!

I write articles and crypto guides for beginners and seasoned professionals alike.

Also for anyone Interested in upcoming and (still) under the radar ICOs:
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@kingscrown Sharing to acquire this observed a lot more (and maybe open the eyes of a few)! Thank You for any effectively submit and documented write-up!.

Yaay. Awesome re-confirmation. I knew this, but the info needs to be spread. especially by big whales. Nice!

Great info!! Saludos

This is the dirty politics China is playing with the bitcoins price.

Its stupid. Last time china FUDed the same happened. When pboc investigated exchanges last time and they froze holdings/trading we sa that the volume from chiona was much much less than everyone thoght. Shill, HODL and tank up.

correction is bound to happen and is a healthy trend and should be welcome because this is the buying time for bitcoin

what is bitcoin sir would u like to inform me about bitcoin

The higher the prices of cryptocurrencies will climb the more FUD is being spread! - We should calm down and get accustomed to this! - THEY WONT STOP US !!!

I knew something like this would come.. Just time for the wise to buy more. No other money transfer system would be faster and easier than that of cypto's...

Yup my buys finally went through.

No it is not, China government is not banning the BTC but want it to be operated within the country. So its kind of a ban itself for China people.

I just went into CC - hope to get some cheap coins on the dip - rocket incoming?
I don't know... don't have much money to play with

China is the last country that should be banning Bitcoin.

With an economy bloated with mostly hot air, people are going to need a way out when the day of reckoning arrives.

Well its a temporary ban so its all just a game for china and this is not even the first time they are doing this :/

Many panic sell

Btc in China were be banned due to Chinese have low quality second Hand btc :)ha ha

@kingscrown This is supercool! Thanks!

No more money to continue to buy. What a pity!

They can ban it, but it doesn't mean that it will stop working. Would they be able to enforce that type of law?

Thanks for the info, the uncertainty makes life interesting

Impressive updates, yes bitcoin is going downward and available cheaper, buy & Hold for future. GOOD days will come. Invest with hope, China want to completely control virtual currency in the world like other economies expanding daily and holding markets in many countries.
Good Luck virtual buyers.

BTCC posted on twitter that it will stop operating in China. How do you think that will effect the price?

for shure it will drop an amount equal to the next peak, after all the accounts from BTCC will move to USA-EUR exchanges

Believe you are on point. China just want to stabilize it's open ended market, particularly when it come to ICO. I wrote my small piece the other day. Who's to blame? This (Bitcoin) is a viable market. The recent fluctuation is what the market does. Enjoy the ride.

At least for now, the price of BTC will keep going up and down. This is something to be accepted especially as news plays a crucial role. New entrants however have the right to FUD.

Better to invest into BTC or ETH then throwing it away in ICO's people! Check out this post.

its too much down now time to buy some again :)

If you have been in this world for more than a couple of years this type of FUD and price drops are taken all in your stride, I think a lot of people new to the game rely a lot on what the mainstream is telling them about bitcoin which has it's downside.

@kingscrown yeah! Why I have never considered that until eventually now. Tend to be the animals immortal in advance of male fully commited sin???.

Good Post! Yes the China news is FUD (although it has been confirmed that it is real - see details in video below). But it is FUD because the impact of China is not as big on the crypto market as many people may think. It could easily be evened out by increasing participation in other countries for example India, or just the increasing participation that will happen in North America or Europe as Cryptocurrencies become more and more mainstream.

But I think we will see another downtrend in the next couple of days or weeks before the market will recover to the prices we saw 2/3 weeks ago.
Watch my Video for my take on the China exchange ban and the market forecast:


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14 hours after you published this great post BTC-China has announced they'll be stopping all crypto-trading on September 30.

Basically, what I think is happening is: Wall Street is working with the Chinese media to deter new, young investors from wanting Crypto on their portfolios.

More and more people are choosing Crypto over Wall Street and for many, many reasons - with the big one being: Bitcoin has far-out-performed Wall Street's 11.4% for years.

More money going into crypto results in less money going into the Wall Street Trader's cocaine-wallet.

Yesterday - JP Morgan trashed bitCoin in the media. Before that it was The Wall Street Journal quoting the Chinese fake news. Before that it was the ICO news.

It's obvious to me that there's a massive media-attack on BitCoin but I don't think it's to drop prices and buy in cheap -- I think it's meant to keep the potential Wall Street traders out of the Crypto markets and filled with FUD.

@kingscrown Excellent Tale. Awesome you ended up in the position to hustle your way out of your respective condition.

Thank you I think it's useful

I hope btc will hit around $1500 so I can buy more

@kingscrown : today's news ...
that China controls Bitcoin, really?

You can Follow me for the latest Technology Related News and Articles.. Thank You...

This will just make it harder for new users to buy bitcoin. Chinese can still buy btc on the internet but will have to go around normal the government.​

To understand the foreign currencies: Invest in foreign currencies that are borrowed at low interest rate foreign currency units and yield high interest rates: CARRY TRADE

Great time to invest! Nice post. Thank you!

Nonsense FUD... It always happens, and there is always innocent people selling cheap instead of buying...

Chinese Crypto Exchange Ban - It's good chance for ICOs to allow some hedge solution))

Sorry, but here i will post adv of our ICO that is different from others.
We do Elon Musk idea for text mining!

Heavily bullish right now and for the next days! :)

Interesting post. From what I've learned in the stock market we need to buy stocks when prices are low. So if the price of btc is low then it is a big opportunity for btc investors to buy more.

time for shopping! Long term

hope my orders will fill soon!

I find it interesting that the day after the Equifax hack ransom for 2.6 million bitcoins was announced, China halts bitcoin trade.
Following days j.p. morgan calls it a fraud, predictions about the bitcoin crashing/bursting are rerun. Even stories about North Korea benefiting from btc trade start emerging.

Am I out of line asking if this what they call a conspiracy?

Everyone should take advantage of the dip BTC is taking and buy. We all know it's going to eventually go up back towards 5k.

do you think bts will blow up??

Clif High did say that there will be another crocodile teeth for the crypto market during the month of September and he is right on the money. Take advantage of this dip by buying more now because the good old time won't come around anymore after this October.

Sad news for Bitcoin lovers but indeed a good one for investors. What's your bid how

I just exchange everything to Tether while it gets down, buying after meltdown over.