Bitcoin price drops as PBOC continues inspections - page 2.

olubams

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Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/

I will only say that its their problem as i have stop concerning myself with anything that relates to the price of bitcoin especially if its coming from that angle of the world because following the trend when they are ready to make sure the price of bitcoin tilt to some specific area then they come up with some investigations and the likes. But, I have hope bitcoin will become strong and not be affected by news like this.

alyssa85

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Quote from: Xester on January 25, 2017, 08:29:16 AM

Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/

It is discouraging to see the price of bitcoin fluctuating but if the inspection was to get rid of hoax volumes of bitcoin and can control and stop the market manipulation then its good for bitcoins and to the bitcoin users. Market manipulation and fake volumes was no longer a theory I guess but its more of a reality. The chinese government will not investigate these things if there are no problems on that area.

This is just speculation on my part, but I think the main aim of these inspections is to prevent shadow banking happening.

Here is what I think was happening on the Chinese exchanges: they were operating a bank, where they were lending money. They pretended that they were really lending for margin trading, when the loans were actually going to shadowy parts of the Chinese economy, and the fake volume bots were there to give the impression that lots of margin based trading was taking place.

The PBOC clamped down on the lending, so the only way they can make money is trading fees, and we now see the real level of trading that was happening on those exchanges - which is pretty small.

warwar

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Quote from: Catmony on January 25, 2017, 10:26:37 AM

This dumps doesn't look like gonna last, price is already recovering and may touch $900 soon. The one who will dump on this type of fud are just noobs, there is good buy support right now.

We shouldn't be easy about it we should be aware also we cant really predict if they can really dump a lot of the price of the bitcoin but I do agree it will pump soon and hit the price . Well if it dumps then we should be used to it to earn profits

Catmony

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This dumps doesn't look like gonna last, price is already recovering and may touch $900 soon. The one who will dump on this type of fud are just noobs, there is good buy support right now.

agustina2

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Quote from: Reid on January 25, 2017, 09:27:14 AM

Just one news from China and it all went down like that? This really means something. A lot of investors are really in China and people might be trying to hide some for now or tried selling their bitcoins for safety purposes. This is really devastating, bad thing is I havent sold mine. Grin

They should've warned me too. Grin

Aside from investors, big exchanges are China based and the triggering situation always starts at them. Attempt of manipulation/s also starts from Chinese exchanges that's why other big exchanges follow resulting for drastically price increase or decrease. Price is decreasing today but not to the extend that it can called a big drop. Still a normal flow on bitcoin price movement.

Let's see then as days passes by.

ABCbits

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It's just normal inspection that PBOC do every year, don't be fooled by people who share FUD or investor/bitcoiner who panic and sell their bitcoin.
PBOC inspection could drop bitcoin price if they found out chinise exchange doing something illegal or they simply make a reason to close bitcoin exchange.

NUFCrichard

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The 80-90% fall in trading volume might have something to do with the small fall in price.
I see it as a long term positive that HFT is reduced.

They basically offer nothing to Bitcoin, they microtrade and Arb over different markets, but don't help anyone but their owners.
They exagerrate swings too, so as soon as a small fall happens, they jump on it to sell so they can trade lower, making the fall bigger.
I hope they are priced out.

Immakillya

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I really hate to see this. They doing this to regulate bitcoin. But if this thing continue. Many bitcoin owners will get discourage and eventually panic sell. This is really a bad. We all know China is a big player of bitcoin. Thats why it quickly affects the price when bad things happen there. $888 is still good tho.

manselr

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Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/

Everytime PBOC makes a statement the price crashes no matter what, it's pretty annoying, but those regulations should be good for bitcoin the long term. Even tho it's not clear to me if what they were doing is illegal, at least in china. I know that in other countries those people would already be in jail, but im not sure if that's perfectly ok to do in china so maybe the exchange owners get no repercussions.

Zadicar

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If inspection would still continue on exchanges on china it would really affect the bitcoins price just like we experienced on the price dip on previous weeks and its really sad to see again that price which we are now on the price of recovery but still i wont worry too much and i will hold my bitcoin for longer more and dont tend to sell off on cheaper price.

alyssa85

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I think speculators on the western exchanges were fooling themselves that something big was happening in China, and they sort of followed every Chinese move up or down. Now they realise that it was all an illusion, and we will probably get back to trading on western news. The next big news will be the fate of the Winklevii ETF.

Reid

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Just one news from China and it all went down like that? This really means something. A lot of investors are really in China and people might be trying to hide some for now or tried selling their bitcoins for safety purposes. This is really devastating, bad thing is I havent sold mine. Grin

They should've warned me too. Grin

Arvydas77

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I agree that it is good for Bitcoin to cut Chinese power over it. I know that traders will hate me but I'm for slow and steady rise in price. I do not appreciate high volatility of BTC.

royalfestus

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Quote from: Red-Apple on January 25, 2017, 08:38:12 AM

Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

.....cryptocoinsnews.....

this is not news, cryptocoinsnews is once again creating clickbaits articles to generate traffic and also help the FUD dump happen.
the PBOC has been inspecting Chinese bitcoin exchanges for a while and they never stopped or were planning on stopping it.
and this so called drop started from yesterday but it was silent and slow selling of whales (you can check the charts and the volume), now it is shakeout time for the whales to buy back in again at lower prices.

What is their benefits in the FUD dump? Moreover, If up to 90% of bitcoin is traded in china, there is nothing to be done with the influence of PBOC on bitcoin price.

BitcoinHodler

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Quote from: Oggy1987 on January 25, 2017, 08:42:23 AM

Not a big drop yet on Bitstamp. And I dont think it will be, its all been predicted, nobody said inspections will be over soon, it takes time for this things. When those inspections are done I think we'll see bitcoin again on a steady rise.

inspections has noting to do with price and its drop. it is the FUD and whales that makes the price go down.
take a look at the volume of Chinese exchanges now. you can clearly see that they have the same, if not lower, volume than any other exchange. i can even say exchanges like bitfinex have more power than the CHinese exchanges ever did in their life.

ipanks

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Quote from: just_Alice on January 25, 2017, 09:08:08 AM

Quote from: Red-Apple on January 25, 2017, 08:38:12 AM

Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

.....cryptocoinsnews.....

this is not news, cryptocoinsnews is once again creating clickbaits articles to generate traffic and also help the FUD dump happen.
the PBOC has been inspecting Chinese bitcoin exchanges for a while and they never stopped or were planning on stopping it.
and this so called drop started from yesterday but it was silent and slow selling of whales (you can check the charts and the volume), now it is shakeout time for the whales to buy back in again at lower prices.

I hope you are right and the price will go up soon. That's how they make money: sell a lot to lower the price and then buy at the low price, and when you are buying a lot the price goes up again. Thus you increase amount of coins you have while the price stays the same.

i am sure that the price will go up soon, its only a matter of time and we should be patience. i think is not just from PBOC inspections that makes bitcoin price drops but from other news or from many factors because bitcoin is related with more aspects so we should read more info about this.

mobnepal

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I will rather consider this as second hype created by whales to buy back cheap bitcoins which they may have just sold at price over $950 few days ago. But i don't think this time price will get dumped much deeper than $850-$900 range.

just_Alice

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Quote from: Red-Apple on January 25, 2017, 08:38:12 AM

Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

.....cryptocoinsnews.....

this is not news, cryptocoinsnews is once again creating clickbaits articles to generate traffic and also help the FUD dump happen.
the PBOC has been inspecting Chinese bitcoin exchanges for a while and they never stopped or were planning on stopping it.
and this so called drop started from yesterday but it was silent and slow selling of whales (you can check the charts and the volume), now it is shakeout time for the whales to buy back in again at lower prices.

I hope you are right and the price will go up soon. That's how they make money: sell a lot to lower the price and then buy at the low price, and when you are buying a lot the price goes up again. Thus you increase amount of coins you have while the price stays the same.

webtricks

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Quote from: Arvydas77 on January 25, 2017, 08:24:42 AM

It seems that a second round of Bitcoin price crash just started after PBOC said that they will continue inspection of Chinese Bitcoin exchanges.

https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/

Likewise Stock Market, Bitcoin market is too dependent upon speculations. However, I don't agree with this article.
If reverse would happen then I should believe the article. Say, once people came to know about inspection through articles, there was a decline in btc price.
Chinese exchanges' inspection would not have such impact on International price! Also Bitcoin already trading @premium in China.

Oggy1987

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Not a big drop yet on Bitstamp. And I dont think it will be, its all been predicted, nobody said inspections will be over soon, it takes time for this things. When those inspections are done I think we'll see bitcoin again on a steady rise.

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