Quote from: shadowninjax on January 11, 2017, 12:20:47 PM

Quote from: BitHodler on January 11, 2017, 12:10:03 PM

Bitstamp is working fine right now, so that's definitely not the reason the price is going down significantly.

I think it has more to do with the Chinese government trying to tighten down own exchanges as they allow people to move wealth from one country to another.

And as you know, China can't stand that. I wonder what the outcome will be. It seems that traders don't want to wait and thus start dumping massively. It's time for sub $800 prices.

Looks like Huobi is falling to 760s. Has bitcoin been regulated or worse, banned in China? I don't seem to find any news regarding that, except few weeks ago that they wanted to regulate it.

It's just the Chinese government trying to put up certain laws to make it more difficult for people to take their wealth and move it to another country.

Basically, it's nothing major that is justifying this level of price decrease. It's purely the panic from gamblers as they are pulling back their borrowed money out of fear.

Smart people that have sold their coins above $1000 will now look at the price with great joy. Buying back at least $200 lower is a nice first step. Maybe the price will even sink further.