Chinese Bitcoin Exchange BTCC halts trading on September 30steemCreated with Sketch.

in bitcoin •  7 years ago  (edited)

Bad news from China again. The 3rd largest Bitcoin exchange in China by volume (6th worldwide) stops trading on September 30.

BTCC tweeted today:

After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.

Other Bitcoin exchanges in China have not issued any announcements... Not yet.

This is not 1st time China has "banned" Bitcoin and there's still no official announcement about a possible ban on Bitcoin by the Chinese regulators. If this ever happens.

Below is the market's response...
A beautiful day if you have been waiting to buy cheap cryptos ;-)

24 Hour Change

7 Day Change

Market Capitalization

Feel free to use and share my charts, but please mention me as the author.

Latest Crypto News - September 14, 2017

Bitcoin Exchange BTCC to Halt Trading as Regulatory Storm Brews in China

This past week there’s been many rumors that Chinese cryptocurrency trading platforms would be shutting down shortly due to regulatory concerns. Now the China-based exchange BTCC has announced it will be shutting down operations on September 30.
Read more: bitcoin.com

Bitcoin Price Drops Below $3,500, But Is Relief Rally In Sight?

The bitcoin-US dollar exchange (BTC/USD) rate fell to a fresh four-week low of $3,413 this morning following reports that Shanghai-based bitcoin exchange BTCC will shut down its domestic trading operations effective September 30.
Read more: coindesk.com

Bitcoin is dropping right now after a big Chinese exchange said it is closing

Bitcoin prices fell about 9 percent on Thursday after one of the biggest exchanges in China said it will shut down its operation.
Read more: cnbc.com

Think Bitcoin Is a Bubble? 5 Ways to Short It

So how exactly do you short bitcoin? It's not easy due to a lack of financial products (relative to other assets) and because some tactics are restricted to professional investors. That said, here are five approaches for bears to bet against the world's most popular digital currency.
Read more: fortune.com

Ethereum Drops Below $250 as Price Hits Inflection Point

The ether-US dollar exchange rate fell to a six-week low below $250 today as the mood in the markets soured and fears of a broader exchange crackdown in China were seemingly confirmed.
Read more: coindesk.com

Bitcoin price bubble: Is digital currency about to crash and burst?

The price of bitcoin has rocketed by more than 700 per cent in less than 12 months, prompting a number of high-profile critics to label the cryptocurrency as a bubble - and even a scam.
Read more: express.co.uk

Namibian Central Bank: Bitcoin Purchases Illegal Under Law

Cryptocurrency exchanges are not allowed in Namibia under a decades-old law, and merchants in the African country may not accept them as payment for goods and services, the nation's central bank has said.
Read more: coindesk.com

Crypto Is Here to Stay (Whatever Jamie Dimon Might Say)

Jamie Dimon made news again on Tuesday when he savaged bitcoin specifically and cryptocurrency generally, calling it a fad even worse than the tulip craze, and promising to fire any JPMorgan trader who dealt in bitcoin. But that couldn't be farther from the case. Rather, Dimon's comments encapsulate an outdated mentality whose very existence explains why there's a demand and need for cryptocurrency in the first place.
Read more: coindesk.com

Central Bank of Finland: Bitcoin Can’t and Doesn’t Need to be Regulated

In a research discussion paper entitled “Monopoly without a monopolist: an economic analysis of the bitcoin payment system” the central bank of Finland solidified its stance towards bitcoin and its optimism in regard to the emergence of a truly decentralized financial system.
Read more: coinjournal.net

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pocketsend:101@penguinpablo,

Do anyone remember time when our community tried to win Bobby Lee's twitter contest for Steem to be added to BTCC. Things are changing so rapidly in this space. We will see what new wave will bring us very soon.

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  ·  7 years ago (edited)

I've been waiting for this

hahahaa

me too my dude

Hilarious, thanks for the laugh

u want to explain why?

Ah :)))))

Buy when there's blood in the streets and they're pretty red today. The FUD has certainly forced all the weak hands out. Everything is on sale today.

is there neough room then for bitcoin to grow in price again after china does this? what do you think will happen in the comming months?

Where is that chart from ?

I make the charts myself and post them exclusive here on Steemit :)

Explain this:

I can.

  ·  7 years ago Reveal Comment

Binance has stopped servicing users in China since Sept 6, 2017, but will continue to service international users unchanged.

https://binance.zendesk.com/hc/en-us/articles/115001567991

YourBTCC BTCC tweeted @ 14 Sep 2017 - 11:05 UTC

1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.

Disclaimer: I am just a bot trying to be helpful.

nice one , your new exchanger in the market register to earn form commissions now http://www.altcoinexchange.com?kid=H7P1R

  ·  7 years ago (edited)

Good Post Thanks :D upvote and resteemed

I hope some negative news continues, brings the market down, load up Steem and BTC for long term growth!

Great information >>>>>>>>>>>>>>>>>Thanks For Sharing........................
Keep It Up:)

Thanks for sharing!

I can't wait to see it dip below 3000 and see it test some of the earlier support levels. Even at around 2600 or so. Interesting days ahead with rough seas and more Chinese announcements to come. I feel a lovely FUD storm coming around...

Thankyou for sharing @penguinpablo

the billions of people living there should stand up against the central control of the government banning things because they are affraid of losing control over their billions of people... and all the chinese do is acting like : okay.... and with the ch government showing how to stop what is good, the cia criminals probably are going to follow too, so the us gov is going to bann crypto too and the whole world will be enslaved to interests again.

@penguinpablo This demands somewhat more time and energy to Consider in excess of. Wonderful you provide it from a unique angle. Mhhh not really easy... and it had been previously Very hard. Many thanks for allow us to Consider.

@penguinpablo its really intriguing data..excellent submit preserve it up. Resteemed.

hey buddy, we cannot help much what goes on in china but I thank you very much for the support you gave me for my post. :)

Thanks for sharing information about bitcoin. hopefully getting better in the future.

My post this time about the discussion related to environmental issues, this link
https://steemit.com/indonesia/@munawir91/diskusi-inspiratif-2017914t20648630z

please respond to the issues I raised

and the other is my article link explaining the condition of the mountain 60 years later.
this link https://steemit.com/indonesia/@munawir91/gunung-sala-enam-puluh-tahun-kemudian-2017912t42411392z

thank you . . .

very bad news, i think dissappointed for chinese bitcoin users, but i think hope for best, and thanks a lot @penguinpablo for updating such news.

Good post. They have funny ways of doing things in China, operate during years without a license (imagine that in the US!) until finally the goverment said that they cannot continue like that. Information from chiness people is that they will stop trading for a month and then they will resume once it has been "regulated".

On the other hand, according to my technical analysis we could see a rebound from this levels, may be up to 3600 and then it will go down again. That is the short term. On the medium term we could be completing Elliot Wave 4 which means that only Wave 5 left before a long term bear market starts.

Here is my technical analysis
https://steemit.com/bitcoin/@freedomvigilante/is-bitcoin-going-to-recover-from-this-crash-technical-analysis-with-ledger-levels-fibo-and-elliot-wave

So BTCC is just closing period? seems like they're giving up too easily when the gov hasn't announced a ban. Unless BTCC knows a ban is coming for sure.

Awesome. I like the Steem dip. New follower here.

Zb.com a chinese crypto exchange and a trading App accessible to traders on tip of their fingers is launching a new branch. The full-fledged brand of Zb.com will be opening in Thailand with plans to make itself a Southeast Asian Crypto Trading Hub.

Just click on the link read more: Coinpedia.org