[2014-09-19]Alibaba’s US IPO May Have Crashed the Bitcoin Price

SirWilliam

sr. member

Activity: 248

Merit: 250

Haha, nice try. Market cap of NYSE is over 20 TRILLION!!! LOL market cap of Alibaba is 231 Billion, Bitcoin is 5.5 Billion. Gee, I wonder which is more likely to be effected, BTC or NYSE???

Actually the evidence, the timing and correlation that is, do seem to suggest that indeed the BABA IPO had a direct effect on BTC price. Asian hot money sold bitcoin to play the IPO.

Quote from: odolvlobo on September 19, 2014, 03:20:12 PM

If this were true, then the IPO would have had a much bigger effect on the stock market, and it had no effect on the stock market.

hua_hui

legendary

Activity: 1386

Merit: 1016

I think not many people had the luck to take part in the IPO. When they found they missed the opportunity, the fiat would come back to bitcoin. The people who took part in the IPO would close their position of the IPO to cash out profit. Then the fiat will come back to bitcoin. So the bitcoin price will bounce back in a few days.

kjlimo

legendary

Activity: 2114

Merit: 1031

Certainly a reasonable conclusion to come to. Now if only markets only had two variables...

CoinMode

sr. member

Activity: 417

Merit: 250

Miners in China can instantly send their bitcoins to partners in the US to sell across all of the exchanges. That process would take no more than a few days, even for many thousands of coins, and they could be using 100% of that for the Alibaba IPO. It would be very fast and efficient. Now they are probably getting ready to dump it and buy back into bitcoin in a few days.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

nonsense

karolina

full member

Activity: 131

Merit: 100

Right because FIAT can now be sent directly to the stock market at Bitcoin speeds? Huh

odolvlobo

legendary

Activity: 4522

Merit: 3426

If this were true, then the IPO would have had a much bigger effect on the stock market, and it had no effect on the stock market.

btcm4n14c

newbie

Activity: 56

Merit: 0

Alibaba’s IPO (Initial Public Offering) is set to take place today at 11.00 AM ET on NYSE (New York Stock Exchange) under the ticker BABA. The IPO of Alibaba will become the largest IPO of a company in the United States, ever. Alibaba Group will price its shares at 68 USD, which makes their company worth 21.8 billion dollars.

http://www.cryptocoinsnews.com/alibabas-us-ipo-may-have-crashed-the-bitcoin-price/

Topic: [2014-09-19]Alibaba’s US IPO May Have Crashed the Bitcoin Price (Read 1493 times)