Today's volatility with 1009 bottom proved Chinese news has no power anymore

Idrisu

sr. member

Activity: 924

Merit: 260

Quote from: BrewMaster on February 08, 2017, 10:45:05 AM

with all the FUD that have been flying around any place that was bitcoin related about China and also the dump that took place a couple of hours ago with $1009 bottom on bitfinex i think it is safe to say that Chinese news and FUD no longer has the previous power it used to have causing panic sells.

it also shows the strength of the buy support.

what do you think?

Traders' has gotten they secret! Chinese will create the fud to make money from the deep. Whenever the price of bitcoin go down on a large scale no that the volumes has been feck by the Chinese to start re-buying again to make more bitcoin and keep the control on the bitcoin market. Currently, bitcoin is trading above $1070 on most of the exchangers.

shapeshiftscam

hero member

Activity: 609

Merit: 500

Quote from: pooya87 on February 08, 2017, 11:20:36 PM

Quote from: shapeshiftscam on February 08, 2017, 10:35:41 PM

Chinese players want to trick the market, but this time they have hard power to dump bitcoin under 5000 CNY anymore. I hope PBOC rountine meetings won't affect the price any more. We are tired of hearing this dump news and China bans bitcoin.

you do realize that they never actually had any real power right? and it wasn't exactly Chinese that were saying those things about China dumping, etc and they weren't actually dumping. it was all FUD to shake out the weak hands and buy their coins cheaper than market price.

take a look here:

https://bitcointalksearch.org/topic/chinas-fakeness-before-and-after-1764928

Major 3 exchanges in China were full of fake volumes, they had 3 million volume per day before the rountine meeting. After that news, they hardly have larger volumes than western exchanges. You know western people's salary is much higher than Chinese, therefore the main trading volumes should be from them.

HabBear

hero member

Activity: 1106

Merit: 638

The Chinese news NEVER had power!

People didn't stop trading, they just decided not to trade on the Chinese exchanges. The market is logical and efficient in most cases. More so with Bitcoin. People can instantly gain access to another exchange if their "hometown exchange" starts organizing, colluding to charge a greater fee for transactions.

Price and this news never had a causal relationship.

deadsilent

hero member

Activity: 1148

Merit: 500

Seems people are not easily fooled anymore. Chinese FUDs are no use anymore. Bitcoin now is unstoppable. Bitcoins recovers fast whenever it drops. FUDs are usually buying by sensitive bitcoiners and easily fooled by FUDsters. But now, FUDsters not effective anymore. No one believes their crappy news.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: shapeshiftscam on February 08, 2017, 10:35:41 PM

Chinese players want to trick the market, but this time they have hard power to dump bitcoin under 5000 CNY anymore. I hope PBOC rountine meetings won't affect the price any more. We are tired of hearing this dump news and China bans bitcoin.

you do realize that they never actually had any real power right? and it wasn't exactly Chinese that were saying those things about China dumping, etc and they weren't actually dumping. it was all FUD to shake out the weak hands and buy their coins cheaper than market price.

take a look here:

https://bitcointalksearch.org/topic/chinas-fakeness-before-and-after-1764928

shapeshiftscam

hero member

Activity: 609

Merit: 500

Chinese players want to trick the market, but this time they have hard power to dump bitcoin under 5000 CNY anymore. I hope PBOC rountine meetings won't affect the price any more. We are tired of hearing this dump news and China bans bitcoin.

Sniper44

hero member

Activity: 714

Merit: 501

Quote from: BrewMaster on February 08, 2017, 10:45:05 AM

with all the FUD that have been flying around any place that was bitcoin related about China and also the dump that took place a couple of hours ago with $1009 bottom on bitfinex i think it is safe to say that Chinese news and FUD no longer has the previous power it used to have causing panic sells.

it also shows the strength of the buy support.

what do you think?

i always knew this and it always made me mad when someone said China is doing something and it was always a big lie. and then it made me even more mad when price used to drop hard because of it.

but even since the Chinese exchanges volume dropped really hard because they couldn't report fake volumes anymore we keep seeing less and less news about China did something.... and yeah i agree that the effects are wearing off finally.

CyberKuro

hero member

Activity: 798

Merit: 506

Quote from: BrewMaster on February 08, 2017, 10:45:05 AM

with all the FUD that have been flying around any place that was bitcoin related about China and also the dump that took place a couple of hours ago with $1009 bottom on bitfinex i think it is safe to say that Chinese news and FUD no longer has the previous power it used to have causing panic sells.

it also shows the strength of the buy support.

what do you think?

I prefer to see the daily data from every exchanges, but yes it seems that Chinese exchanges doesn't lead so far as before and we can consider the global market is more stable right now which latest price decline doesn't affected so much, bitcoin fastly recover again.
Spread widely is the power of bitcoin nowadays, and there's no option to sell instead of keep buying it as long as bitcoin hasn't start to reach higher price, even daily traders will do the same thing.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

The PBOC is just trying to get on with their job. If you want to get arsey with anyone then blame the hair trigger pussies on the exchanges.

spazzdla

legendary

Activity: 1722

Merit: 1000

I don't get how people still fall for this China shit.. The PBOC must just get together and laugh themselves retarded at this point.

Honestly I think the PBOC is just doing it for giggles as this point.

"Think we can get BTC to crash again by saying we are calling exchanges?"

"I'd say no but god damn these guys have fallen for it every single time.. not even monkeys fall for things 20 times in a row.. it's gotta work again"

"yup it worked LMAO BHAHAHA, I wonder how these traders even have money to trade anymore?"

manselr

legendary

Activity: 868

Merit: 1006

Quote from: BrewMaster on February 08, 2017, 10:45:05 AM

with all the FUD that have been flying around any place that was bitcoin related about China and also the dump that took place a couple of hours ago with $1009 bottom on bitfinex i think it is safe to say that Chinese news and FUD no longer has the previous power it used to have causing panic sells.

it also shows the strength of the buy support.

what do you think?

They will keep milking their PBOC crap to keep buying cheap BTC from panic selling idiots as long as possible. But yeah, BTC is not going under $1000 anymore. We are back to $1053 now and we will be soon above $1068 to continue the unstoppable rise to infinity and beyond.

jaberwock

legendary

Activity: 2660

Merit: 1074

if they want to control the price, at least they will have to take concrete actions, not only FUD with no concrete consequences

but fuds like this may be profitable for people with inside information that sell before the dump, given how quickly the price recovers

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

with all the FUD that have been flying around any place that was bitcoin related about China and also the dump that took place a couple of hours ago with $1009 bottom on bitfinex i think it is safe to say that Chinese news and FUD no longer has the previous power it used to have causing panic sells.

it also shows the strength of the buy support.

what do you think?

Topic: Today's volatility with 1009 bottom proved Chinese news has no power anymore (Read 805 times)