Now he's telling everybody not to panic.
This is an interesting thought. What would you have somebody who is watching a crowd of people panicking say, in order to try to stop them panicking?
I expect him to put his money where his mouth is. It's clear he was panicking himself. He added fees to BTC China less than 48h before deposits were disabled.
These charts show that the selling is no where near as high as the crash back in April.
http://coinregulations.com/ban-on-btc-china-taking-cash-payments-causes-bump-in-the-road/
Also, the ratio of sellers to buyers is more balanced. This talks to the increased popularity of bitcoin around the world, which is good news. Having one or two countries dominating the landscape is bad news as it causes negative spikes like we are seeing when regulators throw their toys out of the pram.
The more people around the world that use it, the greater the price stability, and it almost goes without saying that there will be greater demand keeping prices rising due to scarcity of supply.
Bitcoin just went on sale for a few weeks, thats all.
http://coinregulations.com/ban-on-btc-china-taking-cash-payments-causes-bump-in-the-road/
Also, the ratio of sellers to buyers is more balanced. This talks to the increased popularity of bitcoin around the world, which is good news. Having one or two countries dominating the landscape is bad news as it causes negative spikes like we are seeing when regulators throw their toys out of the pram.
The more people around the world that use it, the greater the price stability, and it almost goes without saying that there will be greater demand keeping prices rising due to scarcity of supply.
Bitcoin just went on sale for a few weeks, thats all.
Right, the #1 market for Bitcoin, the market which fueled the entire rise up in the first place, is insignificant. Tell me, what is significant? If Bitcoin added 47% market share in one day, would you say that is significant? Wouldn't you expect your coins to skyrocket? But when it's the opposite, it's simply a "blip in the road".