Looks like Bitcoin is over guys... China has banned Bitcoin (again)!
Ehh, Hello Internet! This is the People Bank Of China. WE BAN BITCOIN!
Here are two sources (in Chinese):
http://finance.caixin.com/2017-09-08/101142797.html
(Link to Google Translate in English)https://mp.weixin.qq.com/s/2YfePTC0sGsFjHvf-HUqqA
(Link to Google Translate in English)
Zerohedge.com (in English)
Bitcoin is going down on massive volume
Other cryptocurrencies are also going down...
Buy the dip? ...For sure! China also banned Bitcoin in 2014, 2015 and 2016. Unless you think "this time is different," which it never has been, buy the dip. It may go down a lot more in the coming hours or days. You never know what the bottom will be, but I don't believe this FUD.
China is not going to ban Bitcoin. It's just a rumor that some Chinese sprout whenever they want some cheap coins. They have done it multiple times in last few years.
Bloomberg China tech reporter Lulu Yilun Chen tweeted:
"Okcoin and Huobi PRs said they haven't received such notices and are still in operation as of now."
Cheap coins going into the weekend. Have a good one! :)