What the fuck happend
My Chinese friend sent me this link:
http://finance.sina.com.cn/china/gncj/2017-02-08/doc-ifyameqr7339635.shtml?qq-pf-to=pcqq.groupYou can use google translate, it means:"PBOC(The People's Bank Of China) has a meeting about anti money laundrying with Chinese major bitcoin exchanges(I translate it)"
You would have thought that the market would have got used to these "China bans bitcoin" fake news by now.
Man people are soo jittery.
It is not fake news, it is PBOC routine meeting with Chinese major bitcoin exchanges. And the news is released in Sina, which is the biggest Chinese news website. It cited Bloombreg's insider released the source.
PBOC seems very retard, they suspect bitcoiners laundry money, but the truth is that most people have less than 100 BTC, money landry with a little money? They should focus more on fiat laundrying, they hate Chinese earn money from bitcoin, they are envy those early adopters.
The "China Syndrome" doesn't seem to have the same effect anymore. At least lately. There is steady demand for it BTC and the supply was cut in half.
And the Alt coin markets have faired well through the recent rise and now this fall.... green candles on most of the major Alts
For me, Alts are a reflection of where BTC is.
I think BTC price is stable and will rise as are the Alts. I know typically Alts will rise when BTC falls and visa versa.... but no real changes in the Alt markets other than steady and up
Yeah, first PBOC's ban happened in 2013, and the price crashed from 8000 CNY to 900 CNY. The second ban happened one month ago, the price crashed from 8888 CNY to 4900 CNY. The third ban is this time, from 7500 CNY to 6300 CNY. We are almost immune to China ban. We will overcome it eventually, in the future, the price won't crash a lot if the 4th ban again.