Quote from: player514 on January 16, 2018, 06:55:29 AM

Quote from: sheenshane on January 16, 2018, 06:47:28 AM

I have a link here that maybe China is one of probably cause by dumping of bitcoin by their miners.
https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/
Share your thought about this guys and help to enlighten my mind.

I definitely think this is an impactful source, but I wouldn't call the drops a dump. Bitcoin hasn't really dropped under 13000 as far as I've seen, and until I see it drop much more, I would never consider Bitcoin to be dumped. It's not like there's a few people just pumping/dumping as there are with many altcoins.

However, I do think China's extreme intervention is definitely pulling the price down. They've had a significant impact on the BTC price in history, so this crack down on miners affects bitcoin's confirmation times and whatnot. I've heard that China is rumored to be making their own centralized crypto currency itself, which may explain why they're making such strong moves against BTC.

I also believe that its not about china we always think that bitcoin price is going down just because of china then a question is when its price go high so then who is supporting bitcoin so in my opinion bitcoin price is connected with market and Im sure if we support bitcoin individually so its price will go high even china ban or stop supporting bitcoin.