Major Bitcoin Sell-Off Following China News
Today's news that Baidu is no longer accepting bitcoin is hitting the market hard, prompting a major sell-off, with the price (at the time of this writing) hovering at $830USD/BTC. There have been sells of 100,000+ bitcoins in minutes, if you watch the charts closely. A panic this surely is. How far down the price goes is unknown, but things are certainly not looking good at the moment. Investors are taking advantage of the low prices, however, to acquire more coins - as one would come to expect. What's your stance? Are you holding? Selling?
Related News
Bitcoin price headed lower today in a $8 sell-off (Bitfinex) catalyzed by the news that Silk Road's Ross Ulbricht had been sentenced to life imprisonment & OKCoin was dealt another PR blow. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 16h49 UTC. BTC-China 15-Minute Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The market was going to sell-off anyway. It was evident....
A new web-based app from BTC China called 'Picasso ATM' allows anyone with a smartphone to become a 'walking bitcoin ATM', without the need to invest thousands of dollars in hardware. Sellers can use the app to upload and sell bitcoins nearly anywhere in the world, in a range of major currencies. It could be the first of many moves by Chinese bitcoin exchanges to appeal to international customers. BTC China is the most prominent of China's bitcoin exchanges overseas already thanks to its English language interface and its CEO Bobby Lee's appearances at major conferences like CoinSummit.....
The day has come, about an hour ago BTC China tweeted "Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]." The news came as no surprise to most, as speculators have been claiming this day would come since China's first announcement in December. Some users on reddit even embraced the news, claiming that news from China would no longer cause large price fluctuations. FXBTC also announced Friday on their website that the site would stop operating and the site would be open until May 10th, 2014. Bitcoin....
Popular exchange BTC China has added new features and an upgraded interface to its Picasso ATM mobile bitcoin wallet, including a 'Sell for Cash' function that allows anyone to become a 'mobile ATM' and sell bitcoins anywhere in the world with the press of a few buttons. CEO Bobby Lee announced the new features this morning while delivering the keynote address at the Inside Bitcoins conference in Hong Kong, where competitors OKCoin and Huobi are also revealing new services. The app is designed as much for use outside China as inside, with support for eight major currencies and ten....
Ever since the dawn of digital currency, value has heavily relied on the headlines. Is there good news in the papers? Great, it sounds like a good time to buy and raise the price. Did something horrific happen suddenly? Sell, sell, sell and get out of the market before the value crashes into oblivion. The "death of Bitcoin" is surely to be upon us soon! It can be proven time and time again through various examples. Unfortunately, the best examples are based on sells from bad news: Mt. Gox, China Bans, etc. However, market manipulation is alive and well across all digital currencies; even....