Topic: Is China manipulating the price of Bitcoin and other altcoins? - page 2. (Read 1947 times)
September 10, 2017, 07:54:34 PM
I think chinese is not everything, but china is a big whale in digital currency, which can affect the price of coin prices in its decisions, and many people panic with the decisions made by China so many people sell their coins, and rest assured it will return normal again after a while.
September 10, 2017, 07:35:05 PM
I'm fairly certain that China has reacted to a misunderstood message to the news about exchanges and that the Chinese government only wants to stop the shonky ICO's from happening.
That's a good thing. It was a good move but could have been delivered at a better time. Or maybe not. Maybe it was best dropped when BTC was soaring to make minimal impact. The exchanges would be aware of problems already if it was true.
The Chinese government is very smart and have ethics and wouldn't bother with a pump and dump. They just invest some money into it and gain from tax generated from it also.
Cryptocurrency is a technological innovation and China likes to innovate. Also it's big money for them. Both in the business it supports and in the tax raised from the profits.
I think when the dust settles and the Chinese people realize this is the case and that even when China regulates Cryptocurrency that trading BTC is fine then they will buy back in at a fast rate.
Anyhow Chinese can put their cryptos into paper wallets and use a vpn and even a decentralized exchange to trade so the Government don't want to force it underground.
I expect China to start buying back into BTC within the next week.
That's a good thing. It was a good move but could have been delivered at a better time. Or maybe not. Maybe it was best dropped when BTC was soaring to make minimal impact. The exchanges would be aware of problems already if it was true.
The Chinese government is very smart and have ethics and wouldn't bother with a pump and dump. They just invest some money into it and gain from tax generated from it also.
Cryptocurrency is a technological innovation and China likes to innovate. Also it's big money for them. Both in the business it supports and in the tax raised from the profits.
I think when the dust settles and the Chinese people realize this is the case and that even when China regulates Cryptocurrency that trading BTC is fine then they will buy back in at a fast rate.
Anyhow Chinese can put their cryptos into paper wallets and use a vpn and even a decentralized exchange to trade so the Government don't want to force it underground.
I expect China to start buying back into BTC within the next week.
September 10, 2017, 06:51:47 PM
As many people do, it's only China that manipulates the price but there are other countries and the Bank is not very visible. Maybe they just want to make the price down and buy a lot of Bitcoin. Monopoly or manipulation. So let's think positive.
September 10, 2017, 06:23:50 PM
You think that some big guys in China play games in order to manipulate the coin markets and profit from it? I would say it's possible but no one knows exactly of course. But definitely, they want to control the markets there.
It could be because most the people that love gamble and have the capability to used their money out of playing is the price of China. Yet we could hide the fact that China is the number one country in terms of transaction, because it is the largest country that also claim the largest people that could actually be a bug part on Bitcoin development. September 10, 2017, 06:05:55 PM
It may be possible that the Chinese government is directly involved in Bitcoin price manipulation as a part of their broad plan to control Bitcoin - just remember that most miners are located in China and Bitmain, the biggest miner manufacturer, is also Chinese, and play their own game with attempt to get more control over Bitcoin. There are even rumors that Bitmain is closely tied to Chinese government. Maybe China was stockpiling bitcoins for a couple of years already and would like to see it as a global currency some day, so they can utilize their strong position in it.
I think that the Chinese government has engaged in this sort of manipulation multiple times over the years. The 2014 "PBOC to ban Bitcoin" rumors were similar. I don't think it's necessarily so they can stockpile BTC -- wouldn't that be the bitcoiner's dream?-- but rather, to calm the markets and discourage capital outflow.
The devaluing of the CNY has caused many Chinese investors to move their money overseas into investments (especially real estate) that hold their value much better than the CNY. Enter Bitcoin: a way that citizens can easily move their assets without friction, bypassing normal restrictions on capital outflows.
As the price of Bitcoin rises, a feedback loop develops. Not only do people realize that it can be a speculative investment itself, but they realize they can use it to secure their assets overseas. This, in turn, keeps driving up the price. I think the PBOC wanted to end this cycle and calm the markets in order to reinforce capital controls. I think the 2014 rumors were much the same.
September 10, 2017, 05:52:35 PM
Some chinese millionaires and billionaires definetally have the ''power'' to manipulate currencies from all around the world. It is possible that they are trying to manipulate and control Bitcoins as well but since it's an all digital coin that isn't produced in any country and isn't actually controled by anyone i would say it's a little bit hard to do that.
September 10, 2017, 03:32:04 PM
It may be possible that the Chinese government is directly involved in Bitcoin price manipulation as a part of their broad plan to control Bitcoin - just remember that most miners are located in China and Bitmain, the biggest miner manufacturer, is also Chinese, and play their own game with attempt to get more control over Bitcoin. There are even rumors that Bitmain is closely tied to Chinese government. Maybe China was stockpiling bitcoins for a couple of years already and would like to see it as a global currency some day, so they can utilize their strong position in it.
September 10, 2017, 02:39:49 PM
China always been investing a lot into bitcoins and some major pools are located in china. I can hardly call it a manipulation because if you are a big investor there is a hard chance that market will react on your desigions. But anyway I accept that China have too mutch influence on bitcoin and bitcoin cash.
September 10, 2017, 02:32:59 PM
OkCoin is trading 3 times more than Poloniex
2 Bitcoin BTC/CNY $99,496,300 $3732.11 26.26%
1 Bitcoin BTC/USDT $37,188,700 $4277.90 19.72%
2 Bitcoin BTC/CNY $99,496,300 $3732.11 26.26%
1 Bitcoin BTC/USDT $37,188,700 $4277.90 19.72%
September 10, 2017, 02:26:09 PM
Of course they do but I hope when bitcoin is bigger they won't be able to do it.
They can do that because of the highest population there, They maybe control a high percent of of cryptocurrencies include bitcoin, so as you said if the community will become more larger in few years later, china alone it can't affect bitcoin too much. So, I hope that bitcoin community will increase in the near future and peoples start to invest in this cryptocurrency.
September 10, 2017, 02:10:30 PM
There's a huge panic withdrawal request in China since Friday.
Price has dropped as low as $3300-$3400 at one point, and some panic sellers spam the Exchange's Weibo platform on the delay in withdrawal, up to 24 hours. There's no delay, just that the Chinese are used to have Alipay/Wechatpay withdrawal into bank account in seconds.
Then there are a smart few ones who are interviewed, they bought extra few BTC while it is cheap, having faith in future of Bitcoin.
Damn, if I live in China I would do that too. So what if the government really shutdown the exchanges, my Bitcoin is still valid, I can still sell it in p2p markets or overseas.
Price has dropped as low as $3300-$3400 at one point, and some panic sellers spam the Exchange's Weibo platform on the delay in withdrawal, up to 24 hours. There's no delay, just that the Chinese are used to have Alipay/Wechatpay withdrawal into bank account in seconds.
Then there are a smart few ones who are interviewed, they bought extra few BTC while it is cheap, having faith in future of Bitcoin.
Damn, if I live in China I would do that too. So what if the government really shutdown the exchanges, my Bitcoin is still valid, I can still sell it in p2p markets or overseas.
September 10, 2017, 01:48:22 PM
Of course they do but I hope when bitcoin is bigger they won't be able to do it.
September 10, 2017, 01:47:27 PM
This question is probably asked many times, but I would like to start a discussion and hear other people's opinion on this. Of course it is a bit paranoia, but there is so much money to make for China that they would almost be stupid if they didn't manipulate the price.
This website is great to see the history of Bitcoin's price and the main events that influenced it: https://99bitcoins.com/price-chart-history/
Today seems to be exactly like in 2013. First China comes with some promising news that they see a bright future in Bitcoin and the price of Bitcoin goes even higher than it already was (giving a lost full blow into the bubble, prorbably so they can sell their holdings or something) and just a week or a couple of days later they come with restrictions and the bubble bursts. Is it me being paranoia or is the same exact thing happening again? And will it happen again in the next (even bigger) bubble?
Please share your (well-founded) thoughts here
This website is great to see the history of Bitcoin's price and the main events that influenced it: https://99bitcoins.com/price-chart-history/
Today seems to be exactly like in 2013. First China comes with some promising news that they see a bright future in Bitcoin and the price of Bitcoin goes even higher than it already was (giving a lost full blow into the bubble, prorbably so they can sell their holdings or something) and just a week or a couple of days later they come with restrictions and the bubble bursts. Is it me being paranoia or is the same exact thing happening again? And will it happen again in the next (even bigger) bubble?
Please share your (well-founded) thoughts here
I just think positive. I think bitcoin will soon be stable and normal even though china is not involved for bitcoin or ico.
September 10, 2017, 01:24:28 PM
This question is probably asked many times, but I would like to start a discussion and hear other people's opinion on this. Of course it is a bit paranoia, but there is so much money to make for China that they would almost be stupid if they didn't manipulate the price.
This website is great to see the history of Bitcoin's price and the main events that influenced it: https://99bitcoins.com/price-chart-history/
Today seems to be exactly like in 2013. First China comes with some promising news that they see a bright future in Bitcoin and the price of Bitcoin goes even higher than it already was (giving a lost full blow into the bubble, prorbably so they can sell their holdings or something) and just a week or a couple of days later they come with restrictions and the bubble bursts. Is it me being paranoia or is the same exact thing happening again? And will it happen again in the next (even bigger) bubble?
Please share your (well-founded) thoughts here
This website is great to see the history of Bitcoin's price and the main events that influenced it: https://99bitcoins.com/price-chart-history/
Today seems to be exactly like in 2013. First China comes with some promising news that they see a bright future in Bitcoin and the price of Bitcoin goes even higher than it already was (giving a lost full blow into the bubble, prorbably so they can sell their holdings or something) and just a week or a couple of days later they come with restrictions and the bubble bursts. Is it me being paranoia or is the same exact thing happening again? And will it happen again in the next (even bigger) bubble?
Please share your (well-founded) thoughts here
The manipulation of prices goes beyond individuals and money bags as at now from the look of things, it seems institutions are getting involved on a high level in that every time going back memery lane, Chinese government at one point or the other are just bent on influencing the price anytime there is potential to reach all time high then it came crashing to start from the beginning and change the discussion to getting back to the point we were before the crash.
September 10, 2017, 01:19:17 PM
The bitcoin cannot be manipulated easily, look for the market cap of then, yeas ago, the chinese investors can easily manipulate the market, but now... In the world of altcoins i cannot have 100% certain about, but its not difficult to a people manipulate, imagine a countrie of investors.
September 10, 2017, 01:14:19 PM
China's recent move to make exchanges illegal has surely hit us all as the prices are falling down 
Hope that it gains back again!
I’d like to think about it as a nice chance to purchase some coins while the Altcoins are falling down. The only thing that is that it doesn’t seem to be worth purchasing right now because there’s only a selected portion of people that are receiving this information. Once the people that used to participate in the China ICO’s find that they can’t easily make a purchase then they will be trying to sell off their BTC.Hope that it gains back again!
We all know what happens when Bitcoin goes down in value, most Altcoins lose their hype and they begin to go lower in value as well.
September 10, 2017, 01:01:58 PM
They just make a big impact because they have the largest volume of bitcoin and some other cryptos in the market. I've red about china banning bitcoin transactions, and I don't know if it is true but it greatly affected the price of bitcoin today.
September 10, 2017, 11:24:32 AM
well in past bitcoin was almost manipulated by the chinese because of it's majority in market and in mining but now many countries adopted bitcoin china isn't major as before but since the news in china ICO will be banned in china was broke price were crashed still china has still power in bitcoin market
September 10, 2017, 10:23:10 AM
It is possible that there's someone plotting from the shadows but I think the chances of that being true are close to zero. Because I think what they're doing right now are genuine measures to counter economic instability. Also because they are aware that their economy is highly dependent on crypto, could not afford any half-assed decision.
September 10, 2017, 09:45:54 AM
Yes. It's very strange that all this FUD is being spread without any sources from the chinese gov't. Unless the announcement is coming out monday and this is just a leak from inside the gov't.
Yes there is no official news from Chinese govt but this news spreading all over the world and all new comers are getting panic and selling their bitcoins, so it will be affecting the Bitcoin price. Don't know when this issue will be solved and again the price will recover. Jump to: