Topic: Speculation on the price of BTC if Bitfinex does a Gox - page 3. (Read 4095 times)
900-1000 area for a nice handle
It depends. If volume on the regulated exchanges like Gemini, GDAX and Bitstamp increase, then I don't think there will be a problem.
Of course it depends on people getting their money out of Bitfinex - what really did the damage when MtGox went bust is that so many people lost money, it put them off cryoto, and we had an exodus of users.
Of course it depends on people getting their money out of Bitfinex - what really did the damage when MtGox went bust is that so many people lost money, it put them off cryoto, and we had an exodus of users.
That is most likely to happen, MtGox will not repeat again, this time people are much more aware about what can go wrong with exchange site. Even after first situation with Bitfinex price recovered pretty fast in my opinion, crypto community is much more prepared for exchange sites going down then before, with that people keep less money there. Lets wait a bit longer to see what will happen, maybe Bitfinex will recover fast again.
It depends. If volume on the regulated exchanges like Gemini, GDAX and Bitstamp increase, then I don't think there will be a problem.
Of course it depends on people getting their money out of Bitfinex - what really did the damage when MtGox went bust is that so many people lost money, it put them off cryoto, and we had an exodus of users.
Of course it depends on people getting their money out of Bitfinex - what really did the damage when MtGox went bust is that so many people lost money, it put them off cryoto, and we had an exodus of users.
If bitfinex does a Gox for sure bitcoin price will fall down. It might fall back to 500$ and there's a possibility that we will see a repeat of 2013 and for sure many will say that time that "history repeats itself". For now I hope bitfinex does not do a gox I don't want to see a 2013 like dump and stability to low price for a long time.
if people cannot take money BUT can take btc, they will buy all btc there and... MOON
Till everything goes back to 'normal' and people start selling their coins in order to gain themselves a good portion of fiat back. It however offers a good opportunity to benefit from this situation by selling at the right moment (which for everyone can be at a different level). Only negative aspect of too many people cashing out BTC is that exchanges may decide to *temporarily* halt BTC cashouts too. I won't be surprised if Bitfinex happens to walk that path when they notice that they are slowly drying out.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
May be $800 or $900, but not $500. First of all, Bitfinex is not the largest Bitcoin exchange out there, nor it is the oldest one. And secondly, indications are that the ongoing issues are temporary.
Now people can not withdraw their money from Bitfinex, it's completely stopped. Even if everyone is at a loss, Bitcoin is after them, they have an artificial rise. It started to climb slowly as the difference in other stock markets opened so well. I advise you to be careful because of the problem with the rise in Bitfinex.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
May be $800 or $900, but not $500. First of all, Bitfinex is not the largest Bitcoin exchange out there, nor it is the oldest one. And secondly, indications are that the ongoing issues are temporary.
Now people can not withdraw their money from Bitfinex, it's completely stopped. Even if everyone is at a loss, Bitcoin is after them, they have an artificial rise. It started to climb slowly as the difference in other stock markets opened so well. I advise you to be careful because of the problem with the rise in Bitfinex.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
May be $800 or $900, but not $500. First of all, Bitfinex is not the largest Bitcoin exchange out there, nor it is the oldest one. And secondly, indications are that the ongoing issues are temporary.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
May be $800 or $900, but not $500. First of all, Bitfinex is not the largest Bitcoin exchange out there, nor it is the oldest one. And secondly, indications are that the ongoing issues are temporary.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
the price will downfall to that range as we see another big jump earlier better to make good observation here mate.
High chance that Bitcoin takes a hit, but grows soon afterwards. Might be a dip to buy there. So far there has been significant upward momentum even though Bitfinex has been having a hard time.
Bitfinex has released some new statement win which they assure that only the fiat transactions are disturbed, nothing else and that they are completely solvent. All crypto transactions are working without any problems.
Maybe this whole fiat withdrawl problem will create something good after all.
It could develope new, better ways to convert crypto intio fiat and back.
Maybe market places where the transactions go directly between buyer & seller.
Or at least bring the exchanges to have some backup plans for scenarios like this.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
the price will downfall to that range as we see another big jump earlier better to make good observation here mate.
High chance that Bitcoin takes a hit, but grows soon afterwards. Might be a dip to buy there. So far there has been significant upward momentum even though Bitfinex has been having a hard time.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
the price will downfall to that range as we see another big jump earlier better to make good observation here mate.
It is not about Bitfinex anymore. Major bitcoin exchanges stopped accepting US dollar deposit as well.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
They all claim that there is a problem with wired deposits and banking system.
This situation created fake demand for bitcoin, because people are buying BTC with the fiat money to withdraw it.
This is bad news. The lowest price that was said in this thread where Bitcoin might fall to is at $800. But if all major exchanges stopped fiat deposits and withdrawals, could the fall be lower than initially expected? Back to $500 perhaps?
Seems kind of crazy we are still pushing higher.
Bitfinex has a lower chance of doing a Gox in my opinion than Gox had itself.
Still has BTC withdrawals enabled which is a good sign.
Just released a public statement saying that they are fully solvent - take that with a grain of salt of course but, at least they are claiming something and not leaving the public speculating.
Seems kind of crazy we are still pushing higher.
But it isnt 1 exchange tho. OKcoin is also frozen since yesterday. And bitstamp is behaving quite strange. Kraken had its issues a couple months ago, Bitfinex cold storage halved this day(they are fleeing with the bitcoins)
Okcoin stopped accepting US dollar and all of the Chinese exchanges have taken the same stand ,it is nothing new with the new regulation and uncertainty they have in China,there is always a sentiment when there is a major hack in a big exchange and we have seen some during last year when bitfinex was hacked ,i thought we would see a big crash but apart from the slight niggle the price recovered,so i am not seeing any major crash other than a minor correction.
MtGox stopped withdrawals in June - then after half a year it pumped BTC from about 100 to over 1200 with other exchanges following (just about 10% lower). The question what will happen after the current pump is irrelevant - the important thing is if the current pump will manage to do a 10x just like the MtGox pump. Bitfinex might be not as important as MtGox was - but with this amount of shorts it has a lot of fuel.
Kind of hard for Bitfinex to Gox when it already did Gox and they just turned the power back on to the insolvent exchange anyway. They operate kind of similar to the too big to jail banks now - no standard accounting practices. Just fractional reserve to infinity. If you got 2 cents in deposits, just turn the exchange back on raise the dial on leverage until able to claim solvency!
But it isnt 1 exchange tho. OKcoin is also frozen since yesterday. And bitstamp is behaving quite strange. Kraken had its issues a couple months ago, Bitfinex cold storage halved this day(they are fleeing with the bitcoins)
First of all this is only a hypothetical question. Second, the purpose of asking is to find out how robust and strong the community thinks the Bitcoin market is since MtGox.
If Bitfinex became like MtGox, what price do you believe Bitcoin will fall to?
If Bitfinex became like MtGox, what price do you believe Bitcoin will fall to?
Maybe the same effect it had when it was hacked in 2016. Last time the price dropped about 200$. It cannot have the same effect as MtGox had because bitcoin are not concentrated on a single exchange.
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