Cryptocurrency markets plummeted on Monday morning following a report that the Chinese central bank had issued a blanket ban on ICOs. All cryptocoins lost over 16% some even more!
Bitcoin Price Slips Below $4,200
China’s ICO Ban Sends Ethereum Price Plunging
This is a Great Event... BUY BUY everything is on sale BUY...
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But, but, but....muh ICOs....
IMO, this is very similar to the SEC crackdown on ICOs, though it appears on the surface that it's a step further. They've declared all of them illegal but I've seen a few people saying they'll likely allow some "sanctioned" ICOs on a future government-sponsored on/off ramp.
It's not going to stop ICOs, just push them into the shadows. The main cryptos will resume their upward trend within a week.
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Once SEC steps in it will be a more fair market I guess. But China just plain banned them.
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I think the SEC is only stepping in on the ICOs that are exactly like securities, i.e. Protostarr.
China will keep them banned until they can control the flow of capital. Or they launch their own government-sponsored ICOs. Just wait, it's only a matter of time.
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Wished I have some money in my savings account :/ Good job on the post @OriginalWorks
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Let's see what the Chinese say when they wake up. Bought too early at $4,300, buying more tomorrow.
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Goldman Sachs "predicted" a month ago that the price will fall to $2200. If they were behind China banning ICOs, I think the floor will touch $2700 atleast
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No way that we will see such low levels again.
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This post has received a 0.39 % upvote from @drotto thanks to: @banjo.
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And I predict it is going to drop for a while and people would be shaking legs...
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good decision to ban ico.
all crypto for sale, i'm buying and full my bag!
By the way i'm waiting for your selling upvote ;)
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