Bitcoins rise after the bubble - page 2.

Chin Cheng

sr. member

Activity: 255

Merit: 250

Quote from: Mandoy on June 23, 2017, 03:40:16 AM

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

I am exactly not sure what made the price recover so soon,but one thing i know is that the scaling debate and the bitmain's proposal made an impact in the price and people started panicking and started selling off and i am not sure what made the market to recover so soon,may be there are investors pumping money in it and i am still not certain whether the Chinese removal of restrictions imposed by those exchanges made any impact.

deisik

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English ⬄ Russian Translation Services

Quote from: Vishnu.Reang on June 23, 2017, 06:41:01 AM

Quote from: Kateryna_Oli on June 23, 2017, 03:59:33 AM

Of course, it will rise!
Bitcoin is not going to supplant governments or bring down the banks. But as the hype around the digital currency subsides, banks and entrepreneurs are trying to use bitcoin in ways that could revolutionise the banking industry. Tongue

It is not going to bring down the governments. But it can bring down at last some of the major banks and companies such as Visa, Mastercard, and PayPal. I admit that it is still too early to dream about Bitcoin dominating the world, but if we can achieve this much in such a short period of time, then nothing will be impossible within a decade or two

I tend to disagree with this view, at least, conceptually

It is unlikely that Bitcoin is going to bring down any major government out there, but let's not forget that there are still quite a few corrupted and weak governments in the world (like those of Zimbabwe or Venezuela), and Bitcoin can be one of the causes of their eventual fall and collapse. After all, fiat is one of the tools via which the government can control population (for example, they can easily block the accounts of people who are in opposition to the government), and Bitcoin essentially pulls this tool from the government grip, thereby making the government more susceptible to an overthrow and downfall

Nevis

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Surely it will rise after that huge drop no matter how much does it drop,volatility at its finest,volatility is all around bitcoins.And altcoins going bloody red is just normal when bitcoins drops its a chain reaction i think

chikora

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Merit: 10

🤖UBEX.COM 🤖

Quote from: ?? on ??

Markets frequently froth and bubble, but the boom in bitcoin, a digital currency, is extraordinary. Although its price is down from an all-time high of $2,420 on May 24th, it has more than doubled in just two months. Anyone clever or lucky enough to have bought $1,000 of bitcoins in July 2010, when the price stood at $0.05, would now have a stash worth $46m. Other cryptocurrencies have soared, too, giving them a collective market value of about $80bn.

Easy to say, but you need to have balls of steel not to sell at USD 10 when you bought in at 5 cents.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: Kateryna_Oli on June 23, 2017, 03:59:33 AM

Of course, it will rise!
Bitcoin is not going to supplant governments or bring down the banks. But as the hype around the digital currency subsides, banks and entrepreneurs are trying to use bitcoin in ways that could revolutionise the banking industry. Tongue

It is not going to bring down the governments. But it can bring down at last some of the major banks and companies such as Visa, Mastercard, and PayPal. I admit that it is still too early to dream about Bitcoin dominating the world, but if we can achieve this much in such a short period of time, then nothing will be impossible within a decade or two.

ranreichman

full member

Activity: 140

Merit: 100

Snip CEO

Quote from: deisik on June 23, 2017, 04:35:16 AM

Quote from: ranreichman on June 23, 2017, 04:21:07 AM

Quote from: Mandoy on June 23, 2017, 03:40:16 AM

****10****

http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

What do you mean "was saved by the Chinese exchanges"?

I guess he refers to prices staying above 2,500 dolalrs per coin now

On May, 26 the price crashed massively and went down to 1,800 dollars, and it is assumed that if Chinese exchanges hadn't been allowed to process Bitcoin withdrawals again in early June, the price would have stagnated at those levels or even gone lower. I don't know how genuine is this claim, but the rebound back to almost 3,000 dollars per coin soon thereafter was rather spectacular and should have an explanation (apart from a simple rebound on its own). The Chinese exchanges with their trading volumes surging explain this hike pretty well

Ah interesting, thx. I actually disagree with this. Maybe the Chinese exchanges helped it bump earlier but imo BTC would have recovered anyway.

katepagava

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Quote from: Mandoy on June 23, 2017, 03:40:16 AM

****10****

http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

i dont unrestand what do u mean, can u clarify?

deisik

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English ⬄ Russian Translation Services

Quote from: ranreichman on June 23, 2017, 04:21:07 AM

Quote from: Mandoy on June 23, 2017, 03:40:16 AM

****10****

http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

What do you mean "was saved by the Chinese exchanges"?

I guess he refers to prices staying above 2,500 dolalrs per coin now

On May, 26 the price crashed massively and went down to 1,800 dollars, and it is assumed that if Chinese exchanges hadn't been allowed to process Bitcoin withdrawals again in early June, the price would have stagnated at those levels or even gone lower. I don't know how genuine is this claim, but the rebound back to almost 3,000 dollars per coin soon thereafter was rather spectacular and should have an explanation (apart from a simple rebound on its own). The Chinese exchanges with their trading volumes surging explain this hike pretty well

ranreichman

full member

Activity: 140

Merit: 100

Snip CEO

Quote from: Mandoy on June 23, 2017, 03:40:16 AM

****10****

http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

What do you mean "was saved by the Chinese exchanges"?

Kateryna_Oli

newbie

Activity: 28

Merit: 0

Of course, it will rise!
Bitcoin is not going to supplant governments or bring down the banks. But as the hype around the digital currency subsides, banks and entrepreneurs are trying to use bitcoin in ways that could revolutionise the banking industry. Tongue

Mandoy

sr. member

Activity: 644

Merit: 264

Aurox

****10****

http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

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