Chinese BTC/LTC Exchanges Have Disabled Deposits

Confirmed by trading partners of mine in China, OKCoin and BTC China have disabled all deposits pending further notice. This is not good for anyone holding Crypto.

 

What was the reason for that?

 

[CoinKing]

Well no one needs to panic,everyone who deal with cryptos knows that's not short term investment.
Believe me,chinese peoples will find another way to deal with the cryptos
Everyone selling at the current prices are insane...
We don't know the future,but if we follow the logic and the facts nowdays the price drop is normal.
Because everyone cashout some money for christmas,also the btcchina deposit problem.
Everyone who deal with cryptos more than 1 year knows that they will go up again in no time
This is game which needs patience

 

[Apith]

Im surprised bitcoins haven't dropped faster since I heard, does anyone know why they did this?

The twins didnt sell a single bitcoin even after btc hit $1000. I sure would love their input on something like this.

 

[Cas]

Meh, I'm not worried at all, I boughty litecoins for about 10$ each, and I'm going longterm.
The prices will go up in the long run, I'm sure of it.

 

[Plznate]

Ya.... tough morning lol. I'm in long as well, probably going to bite the bullet and dump some more cash into BTC and LTC, then just stop tracking the prices daily (as I usually do).

 

[SuF]

And it's back up to nearly $700. Don't fret short term stuff.

 

And it's back up to nearly $700. Don't fret short term stuff.

China government permanently banning banks/payment processors from dealing with Bitcoin is not short term stuff.

 

[Zimmerman]

China government permanently banning banks/payment processors from dealing with Bitcoin is not short term stuff.

this would be the worry, looks like from what i've read they're really going to clamp down.

 

[Xier0]

China government permanently banning banks/payment processors from dealing with Bitcoin is not short term stuff.

What is the reason for this exactly? Does it anything to do with taxes?

 

[CoinKing]

Well they run the biggest part of all markets but they are not the only market.
It is shame how the cryptos are based on non-centralized system but that kind of things can change the price so quickly...
That's how the whole idea of cryptos going dead.