China *Rumors* CRASH Crypto – Will China BAN Bitcoin & Crypto Exchanges? Or is it FUD?

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Rumors of China BANNING Bitcoin/Crypto exchanges dropped the market like rock. Are they just rumors or the start of bad news for crypto? Let’s evaluate and look at the charts today!

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Crypto Bobby says:

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XavierXaim says:

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Lukas Schürgens

vlad vlad says:

looks like bitcoint going down below 2000

Danny says:

If you look at the 4 Hour chart for bitcoin, you will see that bitcoin was already beginning to rapidly descend in price (from it's peak of ~$4,980 to a low of ~$4,400) PRIOR to the China ICO Ban news which was not released until several hours later. The vast majority of Bitcoin's price drop can be attributed to the start of a correction, and if anything the news of the China ICO ban is just delaying this correction.

The reason I say the ICO ban is delaying the correction is because a vast number of people within the crypto community seem to be attributing the ENTIRE price drop to the ICO ban which will actually inflate the price of bitcoin as time moves forward this coming week as the market starts to realize that an ICO ban has very little effect on bitcoin's true value. However, I predict that once this ICO ban news starts to pass the market will return to its previous mindset that bitcoin is indeed at a price that is currently unsustainable and sell-offs will continue, transitioning us into a bear market that I predict will last 3-6 months.

The same explanation above is also relevant for ethereum and litecoin because these two cryptocurrencies in particular seem to follow in very similar trajectories as bitcoin, and the performance of these three coins in conjunction with one another will send waves of similar magnitude throughout the market as a whole causing a downward trend for quite some time.

Anyone reading this, please let me know what you think and if I am over-looking anything.

As for the argument about new money that will be pumped in from people looking to profit off of the lows — that money isn't sustainable enough to cause a reversal back towards the market cap/bitcoin highs we saw at the end of August/early September because the vast majority of the market share is still in the hands of people who have been in this space for a while and understand where the market is, so the influx of buy orders that cause temporary surges in price will be met by sell-offs of a much higher magnitude which will plummet the market/price.

I'm very bullish on cryptocurrencies, especially Bitcoin/Ripple/Litecoin/Ethereum/Neo and I'm very excited to see where this correction goes because there will be some incredible buy-in opportunities in the next couple months for people like me who plan to buy & hold for the coming years.

Crypto Community Network says:

Just posted the English Version of the same article and its summary on my Channel!

myantispambox says:

All these rumors small like FUD to create buying ops. The price always bounces back almost immediately.

Danny says:

Still don't understand why the beginning of this correction is being attributed to China banning ICOs. That is absolutely not the reason for why we are heading into a bear market.

shirin razavi says:

What is FUD?

tuiputui says:

JUST AGAIN AND AGAIN… Tomorrow they´ll buy cheap while you still sleep

Gareth McGregor says:

Hey Robert. I signed up on Coinbase through your affiliate link and made my first purchase. $10 for both of us :D!

紫妤 廖 says:

everything China banned is so popular right now. Netflix, google and bitcoin will be lol

joelercoaster says:

We're talking about the same place where Facebook is banned… no concern.

Torus Digital Cinema says:

Keep em coming !!

JillmanVideo says:

So that is why NEO went down like a rock a few hours ago.

Dinesh Nimmathi says:

Got a new subscriber BOBBY

Jules and Chuck says:

Come on guys…rumors right now from China? It was like 2am on Saturday in China when the news comes out. Who would drop info like this at that time and day…just doesn't add up here people.

maltatravel says:

PBOC what authority do they have lol… just show what a corrupt world this place is, anyway last time they made a fuss it didn't even last longer than a week.

Sublime Thinker says:

Would be amusing if EU & US follows China with a ban on holding all cryptocurrency..

Donte Lightfoot says:

Crptyo Bobby Keeping it real!! ITs time to buy boys

alvin hennevelt says:

Thanks for your clear info…. I Will hold my Cripto's to the end?

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