Topic: Bitcoin price drops as PBOC continues inspections (Read 2109 times)
According to coindesk the present bull run was fueled by shorts closing, hence powering price up with more thrust, as well as a lack of sell orders on many exchanges, which created a liquidity vacuum that allowed price to rise quickly, may be that is the truth as there was no other news other than the uncertainty created by Trump.
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.
I don't consider this a dump. Just that the volume of trade decreased due to interference by the govt, so decrease the price. Bitcoin always applies to the demand and supply. Dump occurs as a result of massive sell out due to scare at a ridiculous lower price 
lets see if you could succeed to devalue bitcoins again.
He will never succeed. We are into $1000+ levels even after those inspections.I don’t think that the price change is mainly related to china, sure they have a large share of the hash power and most of the miners are located there but this does not mean they are sole movers of bitcoin prices. It is already proven.
You had to bump this thread? bring it on, lets see if you could succeed to devalue bitcoins again.
The three major Chinese stock exchanges decided to take the transaction fee from the purchase and sale transactions with the common decision they took in the past week. This is why the new regulations of the Chinese government regarding BTC. Huobi, Okcoin, BTTC are quieter because they can not manipulate the system like the old user anymore. I know there are a few Chinese stock exchanges that still do not get paid, so they should be expected to join this train soon.
And why we are above 1000 again? PBOC finished inspection and they didn`t find any illegal things? And PBOC can investigate their part of the world but with the rest they have nothing.
Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
- Because all panic traders sold their coins under $900 to whales and now whales are pumping price for profit.Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
it is funny to see this topic be bumped again.
everyone has forgotten about this news specially the shitthy news sites such as cryptocoinnews!
PBOC has never stopped investigating Chinese exchanges and right now they are investigating them even more. but as we can all see price is rising non stop and everyone is trying to sweep news like this under the rug because it is not in their favor right now that they are all buying.
but after they bought and wanted to shake out the weak hands PBOC news becomes big again, but nothing really changes they will continue like yesterday and today and tomorrow.
everyone has forgotten about this news specially the shitthy news sites such as cryptocoinnews!
PBOC has never stopped investigating Chinese exchanges and right now they are investigating them even more. but as we can all see price is rising non stop and everyone is trying to sweep news like this under the rug because it is not in their favor right now that they are all buying.
but after they bought and wanted to shake out the weak hands PBOC news becomes big again, but nothing really changes they will continue like yesterday and today and tomorrow.
And why we are above 1000 again? PBOC finished inspection and they didn`t find any illegal things? And PBOC can investigate their part of the world but with the rest they have nothing.
Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
- Because all panic traders sold their coins under $900 to whales and now whales are pumping price for profit.Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
- PBOC haven't published any report regarding their investigation, they have only stated it will be on-going investigation.
- PBOC are investigating for money laundering using bitcoin which is directly linked with devaluation of yuan, so yes they care about their fiat that's why they are trying to tighten the rules against bitcoin trading platform.
And why we are above 1000 again? PBOC finished inspection and they didn`t find any illegal things? And PBOC can investigate their part of the world but with the rest they have nothing.
Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
Like others I also think that this has nothing with bitcoin, PBOC is fiat bank, they care only about their currency. What ever they find it will be for their yuan.
During the past, the decrease in price happened due to the inspection of the PBOC. This time such impact won't make changes in the bitcoin price as the price increase is continuing. This time the price might sustain above $1000 for a long time.
Because bitcoin price was dumped by the news twice, if they inspect for third time in the recent days, it won't impact the price very much any more, traders are immune to that kind of news. Unless PBOC decides to ban bitcoin again, but China has banned bitcoin since 2013 for many times, bitcoin price is long term bullish regardless of multiple bans.
It will only fall a little bit until the operation is done. Just like anything else that is being inspected, you need to slow down until the inspection is done. Now the price rose over $1k again and will have a few spikes in the future, but it only has to keep rising.
Now after PBOC made its investigation Chinese exchangers will no longer do its market manipulation and making hoax volumes. Though the price of bitcoin dwindles after the inspection the price at this moment is on the rise again and finally it has reached 1000 $ each. This just shows that bitcoin has a strong market and will continue to grow and increase its price.
It will only fall a little bit until the operation is done. Just like anything else that is being inspected, you need to slow down until the inspection is done. Now the price rose over $1k again and will have a few spikes in the future, but it only has to keep rising.
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/
https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/
I guess the story is different now as the prices has begun soaring up higher and higher. No amount of inspections and closing down of mines will be able to shut down Bitcoin unless they close down access to Internet worldwide.
During the past, the decrease in price happened due to the inspection of the PBOC. This time such impact won't make changes in the bitcoin price as the price increase is continuing. This time the price might sustain above $1000 for a long time.
"The blockchain integration on digital currency relies on solving the defects like network security, transaction processing performance and transaction consistency.”
http://news.8btc.com/blockchain-integration-into-pboc-digital-currency-is-uncertain
http://news.8btc.com/blockchain-integration-into-pboc-digital-currency-is-uncertain
this top is over hyped out of context and exaggerating..
put it this way.. imagine its a fast food location..
health regulators do a visit once a year. if they see rat droppings or food not cooked at a certain safe temperature. the health regulators set a action plan for the business to clean up and sort out the issues and they would return in a month to reinspect.
if after a month they pass. they are informed there will be a random inspection in X months. if that passes they then dont return for a year.
going back to the usual expected and standard yearly inspections..
now.. if the chinese exchanges did do things that while handling fiat, required them to follow fiat regulations. and did follow it correctly.. they would only be inspected once a year.
but because issues were found there will be a couple inspections before next year until regulators are happy the fiat accepting exchanges are following fiat regulations..
in short.. the exchanges should not have done more then regulations allowed if they intend to continue handling fiat.
this has nothing to do with bitcoin.
put it this way.. imagine its a fast food location..
health regulators do a visit once a year. if they see rat droppings or food not cooked at a certain safe temperature. the health regulators set a action plan for the business to clean up and sort out the issues and they would return in a month to reinspect.
if after a month they pass. they are informed there will be a random inspection in X months. if that passes they then dont return for a year.
going back to the usual expected and standard yearly inspections..
now.. if the chinese exchanges did do things that while handling fiat, required them to follow fiat regulations. and did follow it correctly.. they would only be inspected once a year.
but because issues were found there will be a couple inspections before next year until regulators are happy the fiat accepting exchanges are following fiat regulations..
in short.. the exchanges should not have done more then regulations allowed if they intend to continue handling fiat.
this has nothing to do with bitcoin.
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.
It will probably not be too long before the price goes back to the previous levels. This is an event that, in my opinion, should not have much negative impact on price, as the only people who will have problems with this will be those that use bots. And they will probably find new ways to continue using it, but I think it will not be as profitable as before.
Those price drops when officials from pboc states anything might show you what kind of people are dealing with chineese exchanges. Those are some guys that have to hide themselfs from any controls. Mafia? Scammers? Cowards? Money defrauders? And such.
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/
https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-
bitcoin-exchanges-will-continue/
I really cannot understand why anytime there is a rumor or the chinese government decides to do something relates to bitcoin or if a country is not bitcoin friendly or some traders they sell their coins because they want to make profit always the first word is "crush" and not a drop or something similar. How many times bitcoin has crashed like many people claimed, and how many times has recovered? Personally speaking I consider the OP's opinion excessive enough. We must wait and see.
Yep..
Seems to be way too much weight given to various developments in China. Sure they are factors, and overall some of the recent changes seem to be good things, especially to get their exchange volumes more in line with reality and to discontinue some of the extreme margin trading that was taking place and likely causing too much volatility, especially when there were questions regarding whether the coins were real or fake (which concerns have not been completely alleviated, yet).
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/
https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-
bitcoin-exchanges-will-continue/
I really cannot understand why anytime there is a rumor or the chinese government decides to do something relates to bitcoin or if a country is not bitcoin friendly or some traders they sell their coins because they want to make profit always the first word is "crush" and not a drop or something similar. How many times bitcoin has crashed like many people claimed, and how many times has recovered? Personally speaking I consider the OP's opinion excessive enough. We must wait and see.
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/
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.
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/
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.
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
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.
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. 
They should've warned me too.
They should've warned me too. 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.
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.
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.
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.
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.
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.
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/
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.
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.
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.
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. They should've warned me too.
They should've warned me too. 
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.
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.....
.....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.
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.
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.....
.....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.
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.
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.....
.....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.
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/
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.
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.
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.....
.....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.
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/
https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/
Im not seeing any crash since it's just came from a bounce back. Normal thing based on my own analysis. I will considered it as a price crash if it will passes the price rate back when the price decrease after those surprising $1,1000+ achievement.
But let' see if this is really the start of the second round crash. Right now playing along to a margin of $30-$50 since yesterday at the current forum time.
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/
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.
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/
https://www.cryptocoinsnews.com/breaking-pboc-says-site-inspections-bitcoin-exchanges-will-continue/
Jump to: