Bitcoin price drops following report that China is going to shut down local exchanges

[NavyChief]

Another day, another crash and another Chinese ban. This time, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China.

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.


https://www.yahoo.com/finance/news/b...160633553.html

 

[FlyingDragon]

Its up this morning.....

 

[rezjzzor084]

best wishes for bitcoin - bitcoin meetups always allow you to buy red bull drinks with bitcoin

 

[FlyingDragon]

best wishes for bitcoin - bitcoin meetups always allow you to buy red bull drinks with bitcoin

U only meet up with men that pay in bitcoin?

 

[rezjzzor084]

no, actually I never met anybody in my life who pays in bitcoin

 

[HerbertSwa]

The world's gone crazy. Just wait for the next morning to hear tha the opposite has occured! Ups and downs. Pro and cons.

 

[kid666]

If the price dropped than ill buy another grand worth tonight.

 

[rezjzzor084]

yesterday in the news on tv they said in china they produce 80% of the bitcoin energy by burning coal. so they plan to move the servers and chain calculating machines to island - where it is more cool so they don't need to produce electricity to cool down the equipment there

 

[metsfan4life]

that BTC price is all over the place.

 

[BLTC]

should drop hard this weekend into the 19th....which is cboe opex. I'll be loading up on XRP. THe only digital asset with a ready for production use case.

 

[metsfan4life]

should drop hard this weekend into the 19th....which is cboe opex. I'll be loading up on XRP. THe only digital asset with a ready for production use case.

i sure hope it doesnt drop too much. was going to use the BTC i have here shortly. not 100% in tune with all of the crypto but I do own some XRP

 

[BLTC]

should drop hard this weekend into the 19th....which is cboe opex. I'll be loading up on XRP. THe only digital asset with a ready for production use case.

I was wrong. Price went up on opex. This means the COT is flipping from short to long. In a nutshell it's dart throwing season in cryptos. xrp was up over 100% for a bit today before the pullback caused by Binance/Poloniex's phony "crash" timed perfectly at xrp's HOD.

XRP under $1 is the steal of the century. Generational life changing money to be made in 2019.