Is it because more China exchanges shutdown?
https://bitcointalksearch.org/topic/china-construction-bank-shuts-down-okcoins-account-by-41814-574372
Topic: Just woke up from Trading all night :D Any reason why price is $490 ? (Read 1650 times)
April 18, 2014, 11:37:26 AM
April 17, 2014, 10:37:19 AM
Price looks like it want to go up but it can't ... for now according to unknown for me reasons 
April 17, 2014, 09:45:09 AM
Withdrawals are unaffected for now it seems, it's deposits that are the problem.
Capital controls, I think It's something like 50k/USD equivalent a year.
So the opposite of the Gox effect
Should see prices slumping then lol 
April 17, 2014, 09:26:45 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.
But how does that tie into their capital controls ? Im not well versed on transferring money out of the country in China but I was under the immpression that it wasn't very simple to transfer money in and out?
Withdrawals are unaffected for now it seems, it's deposits that are the problem.
Capital controls, I think It's something like 50k/USD equivalent a year.
April 17, 2014, 09:05:23 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.
But how does that tie into their capital controls ? Im not well versed on transferring money out of the country in China but I was under the immpression that it wasn't very simple to transfer money in and out?
April 17, 2014, 09:01:15 AM
With a long bank holiday weekend in the west so no new fiat coupled with Chinas on going debacle price drops could be the theme for this weekend.
Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.
Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.
Very wise brother
Can see you consider all the angles April 17, 2014, 08:59:04 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.
Good point, cheers! Wonder how btc-e's yuan trading volume is doing?
April 17, 2014, 08:58:37 AM
What question is this?
Supply and demand.
Supply and demand.
Yeah sorry mate, my last trade was at $530, just wondering why it dropped $40-50?
There's rarely a clear and direct reason
April 17, 2014, 08:57:13 AM
With a long bank holiday weekend in the west so no new fiat coupled with Chinas on going debacle price drops could be the theme for this weekend.
Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.
Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.
April 17, 2014, 08:54:20 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
HueHue
indeed no more cheap coins for China 
PBoC is greedy I see
Very glad to see the market is becoming more mature, we might actually be over the Chinese fiascos this time
+1
April 17, 2014, 08:49:10 AM
April 17, 2014, 08:33:41 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
HueHue
indeed no more cheap coins for China PBoC is greedy I see
Very glad to see the market is becoming more mature, we might actually be over the Chinese fiascos this time
well the $500 price already includes all of the chinese news, so that's why. if PBOC speaks tomorrow that they love bitcoin the price would return to the pre-hysteria levels of ~800.
April 17, 2014, 08:10:00 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
HueHue
indeed no more cheap coins for China PBoC is greedy I see
Very glad to see the market is becoming more mature, we might actually be over the Chinese fiascos this time
April 17, 2014, 08:05:16 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
HueHue
indeed no more cheap coins for China PBoC is greedy I see
April 17, 2014, 07:58:57 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.
Yeah Stamp already above 500 as we speak
April 17, 2014, 07:48:10 AM
I think it was just a strategic pump and dump by ppl looking to make some $ from BTC , no FUD or news related.
The positive I am looking at it is even if it drops down to 450 we are still well above the levels before the "coveted april 15th" date.
The positive I am looking at it is even if it drops down to 450 we are still well above the levels before the "coveted april 15th" date.
April 17, 2014, 07:40:18 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.
April 17, 2014, 07:35:58 AM
Cheers for the links guys!
Account closures probably affected some Huobi, OKCoin clients that haven't adjusted to the new deposit options/workarounds.
Still no official statement from PBOC thus far! So this thread has been moved to the right Section on bitcointalk forum.
Account closures probably affected some Huobi, OKCoin clients that haven't adjusted to the new deposit options/workarounds.
Still no official statement from PBOC thus far! So this thread has been moved to the right Section on bitcointalk forum.
April 17, 2014, 07:31:04 AM
It's good to see the markets barely reacting to this China bank news today.
PBOC you won't get any more <$400 coins
PBOC you won't get any more <$400 coins
April 17, 2014, 07:29:00 AM
Gush I was hoping for a $700 till the weekend ..
I know it is still possible ... but todays drop is telling me that it can be hard to get.
I know it is still possible ... but todays drop is telling me that it can be hard to get.
Jump to: