http://finance.jrj.com.cn/tech/2017/09/08211823086220.shtmlWeekend is near, and China tested their power again with their ICO news. Well now they spread some rumors about a ban on actual Bitcoin (not just ICOs) to crash the market. They put shorts, they launch the news, they make a killing.
Next week we will recover and China will have even more BTC. This is how China is stealing BTC from the hands of weak-handed panicsellers, they have been doing it for years and will continue to do so for as long as panicsellers panicsell with ban news.
Even if the ban was real, it's irrelevant, the protocol works and it will recover, and then China will have nothing else to FUD with, which is why they will not actually ban it.
This certainly makes sense,they have power to do such things and any bad news they publish is make a significant drop in
BTC price.But we have very strong resistance at 4000$ and no bad news can crash price bellow that point on western exchanges.But after news is go out, price on Chinese exchanges go under 4000$,I think I see around 3600$.
After ICO&exchanges only thing they can try to regulate next is mining farms,imagine news that Chinese authorities are planning to close down all mining farms in China-that will be big killing&bloodbath for cryptocurrencies...