Did Chinese Rumors Crash the Bitcoin Price? How Accurate Are They?

[southtopia]

Bitcoin’s recent bull run ended with a thud on 3rd November, reaching above $740 before crashing to around $685 in just a few hours. Was a rumor of further Chinese restrictions on Bitcoin exchanges to blame? And if so, how accurate is the news?

Full story here: http://bitcoinist.net/chinese-rumors-crash-bitcoin/

[mjglqw]

Been reading other forums and on reddit about that thing with China. A lot of people are having rumors of bitcoin in China being banned. Not sure how legitimate those rumors are but I don't really know how they're gonna ban bitcoin to be honest.

[iFixBTCmemoryIssues]

Bitcoin’s recent bull run ended with a thud on 3rd November, reaching above $740 before crashing to around $685 in just a few hours. Was a rumor of further Chinese restrictions on Bitcoin exchanges to blame? And if so, how accurate is the news?

Full story here: http://bitcoinist.net/chinese-rumors-crash-bitcoin/

Core said on bitco.in that they would drop the price to zero if the network were to fork away from them. While this is not possible for them to do, they are flexing their minuscule muscles anyways.

[southtopia]

Been reading other forums and on reddit about that thing with China. A lot of people are having rumors of bitcoin in China being banned. Not sure how legitimate those rumors are but I don't really know how they're gonna ban bitcoin to be honest.

China's approach to Bitcoin is so misunderstood, and it's also complicated. No they can't ban it (and aren't trying to) but like everywhere, they can discourage people from using it. On the other hand, there are plenty of people in China still advocating in its favor, even from government positions.

[iFixBTCmemoryIssues]

Been reading other forums and on reddit about that thing with China. A lot of people are having rumors of bitcoin in China being banned. Not sure how legitimate those rumors are but I don't really know how they're gonna ban bitcoin to be honest.

China's approach to Bitcoin is so misunderstood, and it's also complicated. No they can't ban it (and aren't trying to) but like everywhere, they can discourage people from using it. On the other hand, there are plenty of people in China still advocating in its favor, even from government positions.

They want our tax money...