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    Thread: Prices of Bitcoin Fall as China Shutting down local exchange

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      Default Prices of Bitcoin Fall as China Shutting down local exchange

      According to news from CNBC, China has started shutting down on local exchange as their efforts to restrict cryptocurrencies usage. China is a big market and what they do would definitely affect the market. The prices of Bitcoin have seen some dip of more than $800 per coin.

      Would this be a permanent direction still remains to be seen? Do cryptocurrencies have enough support from the rest of the economy to buffer the clampdown of China? What do you think?


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      dzin4aans (09-11-2017), Mkape (11-03-2017), PhantomTrader79 (09-13-2017)

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      Yes it's obvious China is a big influence when it comes to the price of bitcoin, this is simply because that is the biggest market and when the biggest market of a commodity is in crisis then the price of that commodity will react accordingly, so the recent drop in the bitcoin price is a reflection of the crisis going on in its Chinese bitcoin Market.


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      as far as i am seeing the bit coin price has rise more then we imagine ever , i don;t why the rate of bitcoin price low in china , major reason may be there is less demand for it .


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      22gost** It is obvious China have their own agenda behind the move, we might not fully understand them.
      sheikaraf365 While the price is still going up. but please do not take it as a signal that the price would not come down. In the 80s, there was the fall of the Yen, 90s and 2000 was tech stock. last few years was subprime and oil. What did the expert say about those companies too big to fail. Government were willing to bail them out but unlikely for crypto


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      dzin4aans (10-16-2017)

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      the ability of bit coins to evade all governments control it the advantage that bit coins have as it is and still continues to be used even in illegal activities like money laundering and drugs payments but still governments cant control it so for china this is a losing battle
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      Honestly I haven't been active on my international news and of recent. Is it really true that China as start stopping the use of crypto currency! If this is true then there is going to be problems after this, but am sure they must have seen this coming anyway and must have prepare for it before they Create another solution


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      Quote Originally Posted by Dixie View Post
      According to news from CNBC, China has started shutting down on local exchange as their efforts to restrict cryptocurrencies usage. China is a big market and what they do would definitely affect the market. The prices of Bitcoin have seen some dip of more than $800 per coin.

      Would this be a permanent direction still remains to be seen? Do cryptocurrencies have enough support from the rest of the economy to buffer the clampdown of China? What do you think?



      The main reason why the Bitcoin is tied to events that surrounds the Chinese is because China is the biggest bitcoin users, traders and miners in the World..As for the price of Bitcoin, Its the next Gold and we should all invest in it. Imagine that 1 troy ounce of Gold is about 1200 Dollars and 1 Bitcoin is worth much more than 1200 because Bitcoin goes for 7150 as i type this message. The future of Miney is in Bitcoin, It will always rebound and reach new highs.


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      GhostMode Well for a while the bitcoin price drop but things seems to have improved since then and the people had forgotten about the event and the price of bitcoin not only recovered but keep pushing new high. Just like oil just a few years ago. I am just afraid when investors start to take profit, some people might get burnt.


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      dzin4aans (11-04-2017)

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      it was just a rumor that china was going to ban the use of bit coins and after this was proved by traders the prices of bit coins has shrt up and it is now trading in the 7400.00 level so this is a crypto currency to watch
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      Mkape The fact is that this is scary. despite all the rumours of government trying to control Cryptocurrencies and spade of scams going on, the price is still going up. While it is not the worst investment right now, do you feel the price is a little high? Has it peak, who would know. Just two year ago people thought the price of oil would not come down but it did.


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      dzin4aans (11-06-2017)

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