Topic: Bitcoin Price Crashes as Chinese Exchanges OkCoin & Huobi Pause Withdrawal - page 2. (Read 1189 times)
February 10, 2017, 04:25:22 AM
No need to worry about crashes.. They will keep happening, it is part of the game. If you worry about every time this happens, just think of what the price did over the last two years. From 200 to 900+ now. Those numbers should tell you what you need to know, not the 24h graph.
February 10, 2017, 04:22:03 AM
February 10, 2017, 03:53:04 AM
Rumors are that China is in the Midst of a Great Depression that will Rival the 1929 US version.
China is doing everything they can to prop up their Yuan, including blocking all outflows of capital from China.
So even when the Chinese exchanges do start allowing BTC & LTC to be withdrawn , expect their to be serious restrictions on those amounts.
(If they don't immediately reinstate a longer block not long after allowing them.)
China may start confiscating BTC from the exchanges and sell them to prop up the Yuan.
If they do , then we have to call BTC , BNTC instead.
BNTC = Better NOT Trust China
FYI:
On a trading note , A month is a long time, BTC value could easily drop in half before the blocks are lifted.
China is doing everything they can to prop up their Yuan, including blocking all outflows of capital from China.
So even when the Chinese exchanges do start allowing BTC & LTC to be withdrawn , expect their to be serious restrictions on those amounts.
(If they don't immediately reinstate a longer block not long after allowing them.)
China may start confiscating BTC from the exchanges and sell them to prop up the Yuan.
If they do , then we have to call BTC , BNTC instead.
BNTC = Better NOT Trust China
FYI:
On a trading note , A month is a long time, BTC value could easily drop in half before the blocks are lifted.
February 10, 2017, 03:52:51 AM
Without forgetting that they are going to apply fees (since they wasn't doing that before) and I personally doubt that this is a coincidence as Kraken was down as well and users experienced an 404 error page , It's probably more like a plan to drop the price.
Either way, it's not good... 
It shows again how exchanges have too much power and are too centralized, if only a couple of people can cause this big of an uproar. 
February 10, 2017, 03:29:39 AM
Without forgetting that they are going to apply fees (since they wasn't doing that before) and I personally doubt that this is a coincidence as Kraken was down as well and users experienced an 404 error page , It's probably more like a plan to drop the price.
February 10, 2017, 02:23:28 AM
Two of China's three largest bitcoin exchanges said they were taking measures to stop withdrawals of the cryptocurrency from their platforms, as capital outflows prompt the Chinese central bank to step up its scrutiny of the industry.
https://www.cryptocoinsnews.com/bitcoin-price-is-crashing-as-chinese-exchanges-pause-withdrawals
Here's the price of bitcoin:
http://www.coindesk.com/price/#2017-02-09,2017-02-10,close,bpi,USD
https://www.cryptocoinsnews.com/bitcoin-price-is-crashing-as-chinese-exchanges-pause-withdrawals
Here's the price of bitcoin:
http://www.coindesk.com/price/#2017-02-09,2017-02-10,close,bpi,USD
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