Quote from: mjglqw on September 13, 2017, 02:34:15 PM

Quote from: ft73 on September 13, 2017, 01:03:21 PM

Quote from: Rumipl on September 13, 2017, 12:52:02 PM

3800 seems to be pretty strong as for now, let's see what comes next - 4400 + or another dip to 3300 ?

Unless relieving news come from China best scenario is dead cat bounce to about 4000$ ( max. ) and price between 3400-3800$ for the rest of week.
Very bad news can drive the price down to about 3000$ though.

imho

The funny and sad thing is, the news doesn't even have to be confirmed/legitimate for it to affect the price. It's pretty obvious how much ignorant people are invested into bitcoin and other cryptocurrencies. They just read a negative post of bitcoin from Wall Street Journal then BOOM. People start selling without even thinking twice if the news is legit or not. A perfect example of this is Charlie Lee's tweet spreading FUD.

All 4 of the major Chinese Exchanges ANNOUNCING that they are "shutting down all trading operations" over the next month and a half seems to be strong confirmation to me of some sort of issue in China.

On the other hand, there is one rumor that it might be some sort of "licensing issue", or just more regulatory crackdown on the part of the Chinese Government trying to stop "capital flight" instead of them being willing to make the STRUCTURAL CHANGES they need to make to fix the long-running issues in their economy.

Of course, most of those "structural changes" would make it likely that the hold on power by the Chinese Government would end fairly quickly....