BlindMayorBitcorn
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February 09, 2017, 05:25:36 PM

isn't coins being trapped in China good?  less liquidity?  we'll be trading with less of a pool of Bitcoins.

anyhow...

is crypto done??  Huh

They are trapped due to AML requirements, so the only way they can 'escape' is to convert themselves to fiat and leave via the front door in full view of the authorities.
Someone will buy them, being prepared to wait a month to withdraw them, but they will obviously want a heavy discount for their patience.

There is probably a flood of Bitcoin withdrawals from BTCC as it hasn't yet temporarily stopped them. BTCC's customers are probably withdrawing, then dumping on a safe exchange. After they finish dumping the price will probably go back up.
So this is the reason for the fast and furious price tumble and it is continuing to do so.
I saw it at $970 now it is $958.
This is a troubling situation for the ones who have vested alot in to it over the last couple of days.

Why would anyone have done anything like that??