Topic: If China opens BTC withdrawals - would that mean a pump or a dump? - page 3. (Read 2433 times)
May 30, 2017, 12:27:01 AM
I think people would dump initially but the rise in confidence in bitcoin in China would lead to a rise in prices very fast so the net result would be a pump.
May 30, 2017, 12:25:16 AM
I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
If my speculation is right - what would it mean? A pump or a dump?
are you sure that they have enabled ETH withdrwal and not just added it to their exchange platform?
...
In the twitter announcement they write that ETH withdrawals are already open. I don't know anyone who uses it - so this is the best source I have.
May 30, 2017, 12:14:56 AM
I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
If my speculation is right - what would it mean? A pump or a dump?
are you sure that they have enabled ETH withdrwal and not just added it to their exchange platform?
but in any case, according to the news that came out about 2 weeks ago they have reached some aggreements with PBOC and according to that, we know the Chinese exchanges are opening withdrawals in June and we are 2 days away from June so it is possible that Huobi is doing it faster than others as competition only.
May 30, 2017, 12:08:06 AM
Based on the correlative factors I too expect a price pumping in the bitcoin and the ETH Which are quite big in the cryptographic market. If the Chinese impact is not felt then we can assure that China has lost its control over bitcoin.
May 30, 2017, 12:01:06 AM
I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
If my speculation is right - what would it mean? A pump or a dump?
No ETH/BTC only ETH/CNY? Then I believe Ethereum will pump as long as Bitcoin withdrawals are not enabled in their exchange. The most likely scenario for the Chinese traders would sell BTC for CNY then buy ETH through ETH/CNY, send ETH to foreign exchanges then buy BTC through ETH/BTC. This will further pump Ethereum and it might dump Bitcoin.
I don't get it! why do people even assume there is the smallest possibility of a dump?!!
a business was out of business for some time, now it is reopening, that means people using that business is going to come back and start using it again.
in this case the Chinese, the trading lover Chinese, have been going through other channels to quench their thirst for trading bitcoin for the past few months, mostly on other exchanges and on localbitcoins, now their biggest exchanges are coming back. of course they will come back to them and start their trading there.
a business was out of business for some time, now it is reopening, that means people using that business is going to come back and start using it again.
in this case the Chinese, the trading lover Chinese, have been going through other channels to quench their thirst for trading bitcoin for the past few months, mostly on other exchanges and on localbitcoins, now their biggest exchanges are coming back. of course they will come back to them and start their trading there.
It might not even come to that, as you put it "if" not when, so if they open the withdrawals as the last months was an
Accumulation phase, I could see the ones in need of liquidity trying to cash out which means there will be some windows
Of opportunity wide open for the lucky and smart people to take the most out of it, I wouldn't be surprised to see price
Going back sub $1500 but as we can see every time price is falling some new traders-investors are picking it back up.
I know I'm repeating what was already said countless of times but repeating the truth doesn't hurt.
Accumulation phase, I could see the ones in need of liquidity trying to cash out which means there will be some windows
Of opportunity wide open for the lucky and smart people to take the most out of it, I wouldn't be surprised to see price
Going back sub $1500 but as we can see every time price is falling some new traders-investors are picking it back up.
I know I'm repeating what was already said countless of times but repeating the truth doesn't hurt.
The dump happened months ago when the central bank of china inspected the exchanges and the restriction started. Later, the price recovered when it was announced that the bitcoin withdrawals would be resumed. When this finally happen many users will take their coins out of the exchanges but there will not be a big price change because of this.
There is a possible effect on the increse of price because certain individual will convert their cash to Bitcoin and withdraw them. But such event won't give an impact to bitcoin price since it is an isolated case in a certain exchange except a group of whales take advantage of the news to pump the price and persuade people to buy bitcoin. But this event usually ended in a massive dump by the whales to cashout their profit.
I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
If my speculation is right - what would it mean? A pump or a dump?
Do you think that this event would attract more Chinese investors? I wouldn't think this would have a huge effect on bitcoin price but I could be wrong. If it is good for bitcoin, I could easily see it shooting up even further to $5k or so before crashing back down. We are definitely in bubble territory already so any good news will likely spur up an even larger buying mania and push the price far above the actual rise in value reflected by the event. Then, as always, it will come back down to earth.
Perhaps they have little or no relation.
As ETH is a brand new market they can follow the 'guidelines' from minute one.
Presumably their Bitcoin books are gloopy with years of anonymous deposits and withdrawals. Note there is no ETH/BTC market despite that still being the biggest globally.
I would be dead intrigued to see what happens if withdrawals were initiated.
As ETH is a brand new market they can follow the 'guidelines' from minute one.
Presumably their Bitcoin books are gloopy with years of anonymous deposits and withdrawals. Note there is no ETH/BTC market despite that still being the biggest globally.
I would be dead intrigued to see what happens if withdrawals were initiated.
if anything, then pump!
Because they can withdraw BTC to Fiat all the time for the last half year. But when they finally can use their Bitcoin again, boy!
Because they can withdraw BTC to Fiat all the time for the last half year. But when they finally can use their Bitcoin again, boy!
Neither, but a slight increase. The freedom to buy Bitcoin and actually withdraw it would be very bullish from a speculation point of view. There's no reason why it would cause the price to fall.
I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
If my speculation is right - what would it mean? A pump or a dump?
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