Is Current Downswing Due To Exchanges Restricting New Registrations?

alyssa85

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

You make a good point.

The exchanges and their ability to scale is a choke point. I don't think Bittrex, Bitfinex and others will ever recover (their problems go deeper than verification backlogs).

But I do hope Bitstamp, Kraken, GDAX and the others manage to scale so they can cope with the next onrush of noobs.

monkeydominicorobin

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

Obviously the downswing is caused by market forces and not the political issues raised by the very existence of centralized exchanges. Nobody even cares if they die. Only a few will go against the grain. So look for them.

inskraer

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Sooner or later he should fall. And these news say that great demand to bitcoin and in no way affected drop

pradeep97

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

No the reason is newbies are flowing in the market and they are in learning stage whenever some small change happens they do panic sell or buy without doing analysis and another reason is fud of fake news created by some peoples to take market down and they purchase there own stuff at lower prices.

LuanX3

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Quote from: DaddyMonsi on January 12, 2018, 02:49:32 AM

Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

It's the FUD and fake news that's driving the market to go down. I dont think temporary disallowing new registrations will have an impact in the market but, it may if the exchange who announced that they will stop accepting new registrations is because they are having trouble in paying out. Backlogs are the reason why they cant accept new registrations is not a big issue.

Partly true, also those restrictions are not the cause. It could never be. The main reason why there is a downswing is because there is really a lot of congestion in the network of bitcoins and that is causing the market to go down. People are getting frustrated using bitcoins and because of this they are moving to alts like ETH and XRP. However, the problem is XRP is just a hype coin and will likely fall down once people come back to bitcoins. But that would only happen if bitcoins gets an upgrade and is able to coupe up with the every increasing number of transactions it gets every day.

DaddyMonsi

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

It's the FUD and fake news that's driving the market to go down. I dont think temporary disallowing new registrations will have an impact in the market but, it may if the exchange who announced that they will stop accepting new registrations is because they are having trouble in paying out. Backlogs are the reason why they cant accept new registrations is not a big issue.

arpon11

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

south Koreas regulatory authority attack on exchangers is the major reason behind this current down ward trends on most of the cryptocoins. The exchangers platforms stop confirmation of new account may affect bitcoin but not as bad news that is coming out from Korea region. I think the effect has started reducing as issued are being resolved.

Kemarit

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

I think yes, it may somewhat consider another factor why bitcoin is currently slumping, but this will not last long. Business wise is not gonna be good for those major exchanges not to accept new users as this is a lost money on their end. And of course FUD is also affecting people's mindset on whether to go buy bitcoin again. As for me, I'm OK with them closing the down for new users and upgrading their system to cope with the high demand and then re-open their channels once more. Another down swing reason is that investors are just shifting there funds to altcoins like Ethereum and Ripple, which has been surging in the last couple of months. But its no cause for alarm, its normal and I'm sure that they will go back to buying bitcoin. That's how the market works. That's how we make money here.

xYakult

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

Personally, I see that as one of the reason, there are still lots of money wanted to invest in crypto currency from many countries but since big exchanges don't accept new registrations only those who currently have bitcoins can affect the market which mostly are there to sell

giveen

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It isn't completely because of exchanges not accepting new users , the market is currently calm though alts are getting pumped but eventually they fall short after a while. The main reason for downfall is last year itself , many people had sold of their coins and decided not to re - enter with all the different rumors that korea passing a bill to ban exchanges and china completely disrupting 70% of the network after they ban mining and lot of other factors.
The stability is because of uncertainty maybe by end of jan people will start trading again.

piloder

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Most of the popular trading platform can't handle huge userbase + daily support tickets with their current infrastructure so they have temporarily disabled new user registration but when they will upgrade their systems new users can get into crypto trading again. Fiat based exchanges like coinbase is still accepting new users so the one who want to buy crypto with fiat can still buy it which can easily drive price to moon.

There is lots of delima in market right now because of recent news about tight government regulation on exchanges and ban of bitcoin trading in few countries, but government can't ban p2p trading and bitcoin transactions within their territory so all this fear is temporary, soon market might turn into bullish.

Koro-Sensei

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

Ripple has an influence towards Bitcoin cause they are buying tons of it and its still blowing up. Seems bullish to me. Im currently steady just for a while im stopping my trades and focus some work. I know ill regret it later but no matter. Its more fun in the real world.

serjent05

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Quote from: Cryptotradenz on January 11, 2018, 11:12:23 PM

I would say its Korean fud..... Exchanges stoping Reg won't slow trading, it just slows new money coming in.

Media are reporting that S Korea is banning everything.

This is incorrect and causing weak hands to sell IMO. Worst timing for me as im in ICX for main net launch Shocked

When there is an affected factor such as demand or supply, automatically, trading slows down. Just for example, if an exchange restrict a new registration, new supporter of the coin are unable to register on that exchange and as a result money coming in form the demand side slows down that definitely slows down the buy and sell process of the exchange. I also believe that this restriction resulted in crashing prices of coins since supplyer have no choice but to sell it to the demand on that current date. No new demands means no higher prices.

Cryptotradenz

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I would say its Korean fud..... Exchanges stoping Reg won't slow trading, it just slows new money coming in.

Media are reporting that S Korea is banning everything.

This is incorrect and causing weak hands to sell IMO. Worst timing for me as im in ICX for main net launch Shocked

13abyknight

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Quote from: OriginTrain on January 11, 2018, 08:26:16 PM

Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

Yes indeed it is one of the smaller factors that is playing an influence on the price right now. With how much cryptocurrencies have grown from the past few years, even traditional stock traders are switching over to cryptos due to the immense potential of making thousands on an everyday basis. Exchanges have to step it up in order to facilitate users for offering their best with increasing demand.

chris200x9

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Currently, many countries are started to regulate bitcoin trading and they are putting pressure on these exchanges. Those are the bad news for crypto trading and governments are thinking to put taxes on the money traded in crypto but not sure how to do it. Even though a lot of demand for bitcoins and cryptos but people don't know how and where to buy coins. In many countries, banks are not allowing to deposit and withdraw money from these exchanges.

OriginTrain

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Nearly every major exchange (Binance, Bittrex, Kraken) no longer allows new users to verify and begin trading, due to the high demand for new accounts. This high demand makes me believe that the market isn't crashing, but rather going down since it's very difficult for new investors to enter into crypto investment right now due to these exchanges. Do you think this is the reason for the current downswing? Or if not, what are your thoughts?

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