Topic: BTC price should have risen after China froze exchanges - page 2. (Read 1854 times)
People's Bank of China(PBOC) is very obvious. Whenever the bitcoin's price surges to $1000. PBOC quickly do something to make bitcoin traders panic and sell their btc. So the bitcoin's price drops back again. But now it doesn't much affects the bitcoin's price this time. I guess their trick is not working anymore. Expect PBOC will intensify their actions against bitcoin.
I think the impact of such inferences should not have been extended that way, but panic is something that some people have not yet learned to control. That's why the price goes down so sharply, and there are people willing to spread FUD, because they saw it as an opportunity to make money.
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
Not when the people affected dump their coins to avoid their funds being frozen for a month. That is why the price suddenly dropped because of the panic. If they convert their fiat back to bitcoin on another exchange, the price will push back up. Then it will be back to the point just before the panic dump.
Currently those people who want to buy at lower price are spreading some bad news about bitcoin that it will drop that is why the price is lowered a little currently but sooner it will boost up much higher in the coming months as you are right the supply has decreased much and the demand is going to be normal and at that time it will boost up in price.
I don't think it is actually like what you are saying. Basically most of the investors are from china and they bought from those exchanges so if they want cash they can easily exchange back. But when China started to frozen those exchanges as usual the Chinese started fearing so they started selling the bitcoins. This same thing happened when Chinese bank declared that bitcoin is a risky investment because of that there was panic.
So basically the price drops are mostly related to china.
So basically the price drops are mostly related to china.
Bitstamp market is showing major drop in the bitcoin prices. There is still BTCC allowing withdrawals.[1] These measures are taken for AML and KYC related issues. There is possibility of price drop once withdrawal ban is lifter from other bitcoin exchanges.
[1] http://www.coindesk.com/two-chinas-biggest-exchanges-stop-bitcoin-withdrawals/
[1] http://www.coindesk.com/two-chinas-biggest-exchanges-stop-bitcoin-withdrawals/
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
24 Hour volume is $403,038,000. It's not less, it's more than the usual.
As discussed earlier, it is possible to sell BTC to get money in the form of fiat currency, so many people are likely to dump in those exchanges. I think that the price drop should occur only in the exchanges that are suffering this type of interference, but it seems that the panic selling spreads to other parts of the market.
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
That's what I'm contemplating but you know economic principles do not always have direct implications and sometimes there's the need to tweak them. The Chinese are having issues with Bitcoin and let's hope it turns out good as always.
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
The price has actually increased to 1000$ after it was dropped to 700$ due to the market manipulation done by CHinese Exchangers. But after PBOC inspection bitcoins price has started again to climb until it reach 1000$. But as of this moment the price of bitcoin has decreased and the reason is not clear as to what country has brought major impact to bitcoins price after China.
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
i suspect it's because of panic selling caused by their exchange and not because of chinese people
You can still get money out of those exchanges by selling your BTC. Who wouldn't do that just in case? And there certainly won't be as many buyers as there once were on there.
Ah. That makes sense. I didn't know they could sell the BTC.
OkCoin & Huobi are now freezing withdrawal as well. This is not good news for the bitcoin community.
if they can still trade i see no issue, for them and the price shoudl recover quickly
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
Ah! Maybe your calculations can be opposite! People having Bitcoin may try to get rid of it and sell it on exchanges for other web money while those who don't have Bitcoin may not wanna have them now due to ban of exchanges. This will has drastic impact upon demand and price will fall!
"Bitcoin is most difficult security to predict!"
You can still get money out of those exchanges by selling your BTC. Who wouldn't do that just in case? And there certainly won't be as many buyers as there once were on there.
Ah. That makes sense. I didn't know they could sell the BTC.
OkCoin & Huobi are now freezing withdrawal as well. This is not good news for the bitcoin community.
I still think that it is dangerous to rely on the news. Specially from some particular. I will ask what they think people who sold to 726 euros last month, when they heard for the first time that China would begin to piss his Cheesy exchanges
The price will continue to dance as it does right now and we shall get used to see this
The price will continue to dance as it does right now and we shall get used to see this
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
This is about confidence and not supply, if that happen to those exchanges then what will happen to other exchanges? So confidence gets lower and with it the price, also it seems the supply has not decreased since they can still sell their coins and this causes and even bigger decrease in the price. 
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
Did the price increase right after the Bitfinex hack?
If you don't know, Bitcoin crashed back then to below 500 dollars (from above 600), and it had been hanging around 550 dollars for some time thereafter. And the bitcoins are in fact not frozen, the exchanges you refer to still allow folks to sell their coins for the Chinese Yuan and withdraw the fiat proceeds. So it is hardly going to promote further growth in prices any time soon. We may see the price plunging again tomorrow (when Chinese traders wake up in a few hours). In any case, everyone had been warned before the shit actually hit the fan
I agree that the price will fall for some time. But I am sure that in the beginning of March, it will grow again. The news is not very good for Bitcoin
That remains to be seen actually
The next few days will cast some light on what could happen in the future, but even right now we see that the price is unexpectedly very resilient at these levels. It seems like folks have already adopted to such news from China and take this as a chance to get into Bitcoin while it hasn't yet risen higher. I guess it will take a lot of manipulation to bring the price below the 800 dollar mark (at least, for long enough). Basically, the Chinese exchanges are out of the equation currently, so things can't get substantially worse than that. It looks like there is plenty of demand from both Europe and America to support Bitcoin now
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
Did the price increase right after the Bitfinex hack?
If you don't know, Bitcoin crashed back then to below 500 dollars (from above 600), and it had been hanging around 550 dollars for some time thereafter. And the bitcoins are in fact not frozen, the exchanges you refer to still allow folks to sell their coins for the Chinese Yuan and withdraw the fiat proceeds. So it is hardly going to promote further growth in prices any time soon. We may see the price plunging again tomorrow (when Chinese traders wake up in a few hours). In any case, everyone had been warned before the shit actually hit the fan
I agree that the price will fall for some time. But I am sure that in the beginning of March, it will grow again. The news is not very good for Bitcoin
The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
Did the price increase right after the Bitfinex hack?
If you don't know, Bitcoin crashed back then to below 500 dollars (from above 600), and it had been hanging around 550 dollars for some time thereafter. And the bitcoins are in fact not frozen, the exchanges you refer to still allow folks to sell their coins for the Chinese Yuan and withdraw the fiat proceeds. So it is hardly going to promote further growth in prices any time soon. We may see the price plunging again tomorrow (when Chinese traders wake up in a few hours). In any case, everyone had been warned before the shit actually hit the fan
Fear tactic. BTC holders at other exchanges start to worry the same freeze might happen to them.
"Hey it's the assman!" I loved that episode.
Fusilli Jerry
Fear tactic. BTC holders at other exchanges start to worry the same freeze might happen to them.
"Hey it's the assman!" I loved that episode.
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