Quote from: Micerker on November 24, 2019, 05:42:50 PM

Quote from: Astargath on November 22, 2019, 07:46:30 PM

https://www.coincurb.com/news/china-unlikely-to-have-caused-recent-bitcoin-crash/

I don't think China was the cause of the 'recent' crash. Bitcoin has definitely been in a bad downtrend for weeks now. I'm sure these 'news' about China didn't help but that's not why Bitcoin has been doing bad all these weeks.

it's the same trick at 2017-2018 when china grounded bitcoin when they are biggest bitcoin owner.
dump and buy, then pump and sell, I don't want to but follow them, you'll get money, not as much but still got money. I often cut loss but still make money when buying at dip

Well, China may not have caused the major dump down to $7.5K but, China with has in the past almost always, (hell, always) when China thinks BTC exuberance has reached

too high a level slaps it down. This is a very common tactic. Indeed, on China promoting their own crypto coin and blockchain, it should have been no surprise the backlash

against Bitcoin and Altcoins.

So, I don't think the big dump was China. I do think the dump from like $7.8k to current $7.1k now contributed heavily and could indeed drive it lower, but I still think

'miner capitulaztion' is the real culprit and that will take 2-3 months for folk to realize that the tide has turned and their Bitmain S9's or equiv (about 60% of sha-256

miners if I had to guess) are gonna fall off the network. When that happens, I expect a pump in price again, with these 'boat anchors' cut loose.

as always we will see

brad