Chinese Regulators Rule Crush Bitcoin Today
Overnight over 20 billion crypto market cap was removed which all came down to Chinas ruling today on ICOs. Bitcoin now sits at about $4,300 as a massive sell off takes place after a ruling from China that investing in ICOs is banned. This ruling has been going on for a long time here in the states and now with China behind it new ICOs are going to find it very hard to launch.
To me this is actually a positive thing and not a negative one. It removes the shady ICO pump and dumps that have been happening and the countless ICOs that have been launching that removed market caps from other very worthy coins such as BTC, ETH and Dashcoin.
This like many things hurts bitcoin in the short run as people believe the end of cryptos are here. However for people such as myself we see the long term investment and see this as yet another possible options to claim up some massive discounts!
I mean lets not forget that bitcoin is accepted just about everywhere now. It still has massive room for growth and is starting to be accepted by governments in terms of approving ETFs etc.
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Exactly. Good time to get a discount. Also goes to show how involved the Chinese are in crypto. I have to agree that it will be a good way to get rid of a lot of pump and dumps and see a little shifting in the markets.
THIS IS A PLAIN PURE BULLSHIT..A FAKE NEWS, ABOUT BITCOIN & ALTCOINS CRUSH RELATED TO CHINA ICO BAN. THE CRUSH WARNING HAS BEEN HIGHLIGHTED AND BEEN PREDICTED ALMOST 3 WEEKS AGO...IT'S WELL NOTED AND EVEN TO SOME EXTEND THEIR* ANALYSIS ASSESSMENT IT'S ALMOST PERFECT ON THE COMING CRUSH...
"Sheba Jafari, the head of technical strategy at Goldman Sachs, wrote in a note sent to clients on Sunday that because bitcoin was approaching her target of $3,691 (which it has since passed), an extension wave five of this move could take bitcoin all the way up $4,827 before a correction pushes it all the way down to about $2,221"
*A) GOLDMAN SACHS: Here’s when we’ll know bitcoin’s top is in.
Jonathan Garber, Business Insider US August 14, 2017.
http://www.businessinsider.my/bitcoin-price-technical-analysis-goldman-sachs-top-2017-8/?r=US&IR=T
B) Bitcoin (BTC) Update: We are VERY CLOSE to a wave (v) of 5 of III top! What to do? This is what I'm doing...read the blog.
https://steemit.com/bitcoin/@haejin/bitcoin-btc-update-we-are-very-close-to-a-wave-v-of-4-of-iii-top-what-to-do-this-is-what-i-m-doing-read-the-blog
THE FAKE NEWS RANDOMLY EXAGGERATED AND MANIPULATED BY THE MAINSTREAM MEDIA TODAY.