After Panic Sellers get their fix, China will buy up the Cheap coins

Red-Apple

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Quote from: Wind_FURY on March 27, 2017, 09:52:54 PM

Quote from: pooya87 on March 26, 2017, 11:05:42 PM

Quote from: york780 on March 26, 2017, 12:50:42 PM

Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!

nah, my guess is that this "resistance" around $1000 is just a mentality thing with this particular price. it has been like this before too in a smaller scale. people find it a good target to sell at because it is a round number in USD market.

It went over $1000 just a few hours ago but then I believe it will go back down once the sellers and short sellers start acting again in the market. We have not seen the bottom of this yet I believe. This could go on for 2 or 3 months. In the mean time find more fiat to throw into Bitcoin and but at the bottom.

so far this cursed number seems to be holding up as the new bottom price

it has been tested multiple times though, specially today that this new ETF rejection news came out. there has been a lot of dumps and i think it is safe to say the resistance is now above $1000 and the chances of going lower to 3 digits is very low.

Wind_FURY

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Quote from: pooya87 on March 26, 2017, 11:05:42 PM

Quote from: york780 on March 26, 2017, 12:50:42 PM

Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!

nah, my guess is that this "resistance" around $1000 is just a mentality thing with this particular price. it has been like this before too in a smaller scale. people find it a good target to sell at because it is a round number in USD market.

It went over $1000 just a few hours ago but then I believe it will go back down once the sellers and short sellers start acting again in the market. We have not seen the bottom of this yet I believe. This could go on for 2 or 3 months. In the mean time find more fiat to throw into Bitcoin and but at the bottom.

xypos

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Quote from: BitcoinBarrel on March 24, 2017, 11:41:55 PM

Quote

Major Chinese cryptocurrency exchange, BTCChina, announced today that its new KYC/AML verification system has been completed.

source: http://www.razor-forex.com/2017/03/chinese-bitcoin-exchange-btcchina.html

It is unwise to not hold onto your coins right now.

Just because bitcoin dropped $200 in a few days shouldn't make you feel panicky and make you sell all your coins. In fact you should always go against what others emotions are. People are feeling like they've lost too much and they want to sell, this is the time to capitalise.

The Chinese will probably start buying again, but more trades are going to localbitcoins.

I wonder how they're going to get high volume trading going now... Especially those with dirty funds.

ekoice

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Quote from: Herbert2020 on March 25, 2017, 01:25:02 AM

Quote from: Kotone on March 25, 2017, 12:25:44 AM

Because of the ETF rejected that's why they panic that bitcoin price will drop into bottom they panic and sold their coins for have to profit atleast. Ofcourse china are waiting for the maximum drop of coins to buy and stocked another coins. They will pumped it again to make a good profit in the end.

you sound like someone who has been out of the country and now comes in not knowing the language anymore

let me fill you in.
ETF was rejected, they spread the FUD and price took a big dip and they bought it back again and price went up to normal levels of $1100-$1200.

after some short time, the block size drama which has been around since 2015 started again. this time with much more FUD coverage. and price is taking a dip because the FUD is still ongoing.

and Chinese aren't waiting. their exchanges were out of service because of the PBoC inspection and regulations. they will soon come back online (some of them started already) and with one of the big markets coming back online some stuff will start to change.

Once again,the game starts and chinese are going to grab cheap bitcoins and it would be the another reason for bitcoin price to reach $1200 soon.Altcoin holders,you have increased your bitcoin value fro altcoins pump.Better dump your altcoins now and buy back bitcoins or else,you may end up with value less pump coins,i mean altcoins.

Yuuto

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Quote from: LFC_Bitcoin on March 26, 2017, 11:21:03 AM

No doubt there has been some heavy manipulation by large bitcoin holders. The problem is the weak hands panicking & following the whales by selling.

The whales will be laughing as they gobble up coins now at a 20% discount to what we were at a week ago.

The whales are the ones that lead every dump and pump.

When they dump, we shouldn't be too concerned about how things are going for bitcoin because that's their decision, and it doesn't reflect what the community thinks about bitcoin in general. It doesn't prove anything if bitcoin price is low.

Similarly, if price is high, doesn't mean everything is going well for bitcoin.

If bitcoin drops to $800 I would buy a bunch as well, just like BitcoinBarrell. I doubt that will happen though... I feel like a short squeeze might be coming soon.

pooya87

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Quote from: york780 on March 26, 2017, 12:50:42 PM

Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!

nah, my guess is that this "resistance" around $1000 is just a mentality thing with this particular price. it has been like this before too in a smaller scale. people find it a good target to sell at because it is a round number in USD market.

Wind_FURY

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Quote from: york780 on March 26, 2017, 12:50:42 PM

Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!

I am not as optimistic as you. We have seen this kind of price movement in the past. After a dump the price will stay where it has fallen for a few months before going up again or going down again. It will depend on what the market sentiment is during that time. With the Segwit vs. BU story still unfolding and might go on for a long time, I am not that sure it will go up.

Taki

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Quote from: Denker on March 26, 2017, 12:45:57 PM

Quote from: LFC_Bitcoin on March 26, 2017, 11:21:03 AM

No doubt there has been some heavy manipulation by large bitcoin holders. The problem is the weak hands panicking & following the whales by selling.

The whales will be laughing as they gobble up coins now at a 20% discount to what we were at a week ago.

Well this is how mostly all markets work. The big guys play the music and the rest is dancing to it.
If you don't wanna do so as a small guy I recommend ear plugs!
Just hold what you have on coins and sit out, no matter how long it takes.

True words. Everything that remines to such simple users as we are is just to ride the wave and get as much as we can from the whole situation.

york780

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Looks like some cute whales are trying push the price back in triple digits lol. Get them boys!

Denker

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Quote from: LFC_Bitcoin on March 26, 2017, 11:21:03 AM

No doubt there has been some heavy manipulation by large bitcoin holders. The problem is the weak hands panicking & following the whales by selling.

The whales will be laughing as they gobble up coins now at a 20% discount to what we were at a week ago.

Well this is how mostly all markets work. The big guys play the music and the rest is dancing to it.
If you don't wanna do so as a small guy I recommend ear plugs!
Just hold what you have on coins and sit out, no matter how long it takes.

LFC_Bitcoin

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No doubt there has been some heavy manipulation by large bitcoin holders. The problem is the weak hands panicking & following the whales by selling.

The whales will be laughing as they gobble up coins now at a 20% discount to what we were at a week ago.

BrewMaster

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Quote from: BitcoinBarrel on March 24, 2017, 11:41:55 PM

Quote

Major Chinese cryptocurrency exchange, BTCChina, announced today that its new KYC/AML verification system has been completed.

source: http://www.razor-forex.com/2017/03/chinese-bitcoin-exchange-btcchina.html

interesting speculation although that is only one exchange platform though. (i honestly can't remember if BTCChina was the biggest, i always thought OKCoin was the biggest) anyways i can see CNY markets are still active. markets such as OKCoin.cn and BTCC and Huobi each having 5-6 mill $ currently.

RoommateAgreement

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Bazinga!

it seems like the buy back of coins that were sold has been started but slowly without pushing the price up. the volume is still very high for price like this seems like once again we are rising without Chinese.
although i must say even with their exchanges closed, Chinese have been buying bitcoin ever since. it just is harder for them to do so without an easily accessed exchange service.

Wind_FURY

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Quote from: Pursuer on March 25, 2017, 02:20:42 AM

Quote from: Wind_FURY on March 25, 2017, 01:43:11 AM

What is the news on this latest dump? What other bad news could make Bitcoin go down below $1000? I agree with some of the comments here. This is a time to look for an opportunity to get in. Sooner or later Bitcoin will start going back to its longterm trend of going up again.

I haven't seen anything new really. it is the same old thing, still the same bitcoin is gonna fork, abandon ship kind of situation.
but yeah, price is now at a low level making it a good entry point for anyone who wanted to buy 2 months ago but couldn't because they said "the price is high".
day traders are enjoying themselves these days though

The traders plan of the month must be to short sell Bitcoin now. If that really is the plan, then we should expect this trend to go lower. Placed bids at $800 to $850 just in case there is another dump going there. I might get lucky again

ArdiPrabowo

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Quote from: BitcoinBarrel on March 24, 2017, 11:41:55 PM

Quote

Major Chinese cryptocurrency exchange, BTCChina, announced today that its new KYC/AML verification system has been completed.

source: http://www.razor-forex.com/2017/03/chinese-bitcoin-exchange-btcchina.html

This mean problem in PBOC is clear
and now in china exchanger ready normal withdraw again, i think is good news, if china exchanger problem is finish with PBOC

Pursuer

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Quote from: Wind_FURY on March 25, 2017, 01:43:11 AM

What is the news on this latest dump? What other bad news could make Bitcoin go down below $1000? I agree with some of the comments here. This is a time to look for an opportunity to get in. Sooner or later Bitcoin will start going back to its longterm trend of going up again.

I haven't seen anything new really. it is the same old thing, still the same bitcoin is gonna fork, abandon ship kind of situation.
but yeah, price is now at a low level making it a good entry point for anyone who wanted to buy 2 months ago but couldn't because they said "the price is high".
day traders are enjoying themselves these days though

Vaskiy

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Quote from: Kotone on March 25, 2017, 12:25:44 AM

Because of the ETF rejected that's why they panic that bitcoin price will drop into bottom they panic and sold their coins for have to profit atleast. Ofcourse china are waiting for the maximum drop of coins to buy and stocked another coins. They will pumped it again to make a good profit in the end.

We can expect the same to happen with the bitcoin network. Now surely China use the situation as a chance to grab the best earning out of it. Even before the etf, from the inspection from PBOC China traders and users were struggling a lot. Now it helps them with the ongoing drop.

Wind_FURY

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What is the news on this latest dump? What other bad news could make Bitcoin go down below $1000? I agree with some of the comments here. This is a time to look for an opportunity to get in. Sooner or later Bitcoin will start going back to its longterm trend of going up again.

Herbert2020

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Quote from: Kotone on March 25, 2017, 12:25:44 AM

Because of the ETF rejected that's why they panic that bitcoin price will drop into bottom they panic and sold their coins for have to profit atleast. Ofcourse china are waiting for the maximum drop of coins to buy and stocked another coins. They will pumped it again to make a good profit in the end.

you sound like someone who has been out of the country and now comes in not knowing the language anymore

let me fill you in.
ETF was rejected, they spread the FUD and price took a big dip and they bought it back again and price went up to normal levels of $1100-$1200.

after some short time, the block size drama which has been around since 2015 started again. this time with much more FUD coverage. and price is taking a dip because the FUD is still ongoing.

and Chinese aren't waiting. their exchanges were out of service because of the PBoC inspection and regulations. they will soon come back online (some of them started already) and with one of the big markets coming back online some stuff will start to change.

Kotone

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Because of the ETF rejected that's why they panic that bitcoin price will drop into bottom they panic and sold their coins for have to profit atleast. Ofcourse china are waiting for the maximum drop of coins to buy and stocked another coins. They will pumped it again to make a good profit in the end.

Topic: After Panic Sellers get their fix, China will buy up the Cheap coins (Read 1383 times)