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Right after the first "crypto-crash" we saw earlier this week,China strikes once again to ban Bitcoin and shutdown local exchanges.This has affected the overall markets to plundge straight down,and ruin the bit of a recovery these markets managed to achieve just a few days ago.
According to this news update created by Coindesk.com, crypto overview sites like CoinmarketCap.com are reporting that local Chinese exchanges currently has Bitcoin listed for as low $3600.These exchanges has however not received any notification from the chinese government,making this idea a great uncertainty.
Charts and news:
As we can see,Bitcoin has taken a dramatic decrease in market value on the 8th of September right after the China ban rumour.
Is Bitcoin really dying? Or this just another hoax to get some cheaper coins before another record high?!
There is quite a few factors that will determine these prices,and the best way to know what is going on,is by keeping up with the news:
- Bitcoin Price Sinks Below $4,200 on China Uncertainty
- Bitcoin crashes on rumors China is banning Bitcoin exchanges by @penguinpablo
Live prices on the markets right now:
Current trading price: $4268
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I was hoping it would drop even more - need to buy more when the price is right 😉
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China is concerned with people using crypto to circumvent capital controls, so they are likely to ban/ heavily regulate exchanges etc
It seems that they are not putting the BAN on bitcoin , https://www.cryptocoinsnews.com/bitcoin-price-recovers-major-drop-chinese-exchanges-not-banned/ .But this will most likely be the spark that will lead to even more strict regulations
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Dude I dont think it would matter for Bitcoin if china banned it :/
Agreed. There may many levels to this discussion as well. I think all the world govts could ban it and it wouldn't go away.
In any event, I think it'll be a great time to buy once we see the final few waves down: https://steemit.com/bitcoin/@stocks29/bitcoin-elliott-wave-update-is-it-time-to-brace-for-another-strong-selloff
Hmm yeah
I most certainly agree that Bitcoin wont ever be going away. I bought more earlier today,and im hoping for another last dip to get more.
Hmm
i don't know but my wife has an account on okcoin we're buying some cheap bitcoin(hopefully). I bet xijinping is buying
@cryptastic if I had an account there,I would also scrape up those cheap Bitcoins! Lol he is definitely buying ;)
China is showing to the whole world what they can do here. Don't panic and take advantage of this situation. Buy cheap BTC!
Buy BTC and HODL all the way :P just another fun dip of the roller coaster ;)
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