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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16402. (Read 26711510 times)

legendary
Activity: 3122
Merit: 1538
yes
I expect an statement from PBOC next Monday saying they will work closely with Ripple Labs and make BCH the only legal and official crypto currency in China.

That will be the point of max pain.  Cheesy

Closing exchanges doesn't affect just BTC. It means cryptos are not welcome in China.

It means: underground economy forming. Too late to stop this.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
Damn, I did it again.
Buy at 3016, sell at 3005, don't buy back when reversal begins...
For me, the key seems to be  trying to make good trades, not great ones.

so much this...also, recently I have been absolutely refusing to make LOSING trades
legendary
Activity: 1078
Merit: 1441
I expect an statement from PBOC next Monday saying they will work closely with Ripple Labs and make BCH the only legal and official crypto currency in China.

That will be the point of max pain.  Cheesy

Closing exchanges doesn't affect just BTC. It means cryptos are not welcome in China.


errrrr........HuhHuh

...you are like kidding right?


(try turning it off and unplugging it- and then restarting...)
hero member
Activity: 2604
Merit: 961
fly or die
Back above 3000€, that's nice to see.

Too bad I had no more fiat to buy that massive dip.
hero member
Activity: 2604
Merit: 961
fly or die
I expect an statement from PBOC next Monday saying they will work closely with Ripple Labs and make BCH the only legal and official crypto currency in China.

That will be the point of max pain.  Cheesy

Closing exchanges doesn't affect just BTC. It means cryptos are not welcome in China.
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
Damn, I did it again.
Buy at 3016, sell at 3005, don't buy back when reversal begins...

Well obviously!
Weak hands always end up burnt.



Yep ^^^^^
Feeling so dumb, just wasn't in the mood to trade today  Lips sealed
Have to admit I didn't expect such a rebound after such a slow bottoming. Guess Fibonacci was right all along...

Just try to stay patient next time bro. I was at a loss for nearly 18 months after Gox but the price always goes back up. Put an amount that you're comfortable with into cold storage offline & don't even attempt to trade no matter what happens.
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
Well good morning Bitcoinland.

Looks like reality is finally starting to rain on the little teddy bears' picnic.

After one last shakeout of the weaklings prices are starting to return to normal... currently $3598USD/$4366CAD (Bitcoinaverage).

AltcoinCash still slipping at $409USD/$497CAD (Coinmarketcap).

Just the sheer volume should indicate that this was the bottom. I'm glad I spent my last spare cash a couple of hours ago, just before the price went up at my local ATM.

Hopefully that's the end of this dip. If I were to buy any more, I might have to (shudder) use my credit card if I needed to buy something. Using credit cards always makes me feel like such a sucker. Cash rules.
legendary
Activity: 3431
Merit: 1233
Well, what can I say? As always, thanks for the cheap coin! Appreciated!
legendary
Activity: 1218
Merit: 1003
$600 swing in 3 hours? Bitcoin be crazy.
$3000 looked bad, I even said I would buy if it went much lower, at $3500 or so I am just holding still.

I won't ask if there is any reason for the 20% rise. The old 'because, go fuck yourself, that's why' meme is usually about right for explaining Bitcoin price swings!
full member
Activity: 147
Merit: 100
Damn, I did it again.
Buy at 3016, sell at 3005, don't buy back when reversal begins...

Well obviously!
Weak hands always end up burnt.



Yep ^^^^^
Feeling so dumb, just wasn't in the mood to trade today  Lips sealed
Have to admit I didn't expect such a rebound after such a slow bottoming. Guess Fibonacci was right all along...
hero member
Activity: 968
Merit: 624
Still a manic miner
eyes still hurt and brain exhausted after trying to read empowering´s posts. rofl
thanks for the quick news, anyway.

ok, they dont want RMB funding on exchanges. Do we care? No sir

Spot on with the tether comment.  Wink
member
Activity: 63
Merit: 10
Smaller fishes can be younger but also smart ;p
A 600$ pump @stamp in 3 hours! Not bad for the volatility we have nowadays  Grin
Seems a new uptrend is finally shaping... Charts looking good, let's see where the price rebounds.
newbie
Activity: 5
Merit: 0
volatility has returned - this is a classic speculative trade because no-one has any idea what the value should be
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
Damn, I did it again.
Buy at 3016, sell at 3005, don't buy back when reversal begins...

Well obviously!
Weak hands always end up burnt.



Yep ^^^^^
hero member
Activity: 1011
Merit: 721
Decentralize everything
Back up to $3500 already  Grin

I love the Bitcoaster
sr. member
Activity: 560
Merit: 250
Is this another bulltrap? But bigger this time?

3500 maybe then down again if the bubble theory applies

but we'll see

Damn trading is hell i almost lose my mind these last 2 days that was painful

Probably. Expect a rise to the 3500-4000 USD level in the next couple of days, followed by the bear leg to 2500 USD.

Why a bear leg to 2500?? Unless there is more "shock news" why do you assume btc would drop again (if it does recover to 4k)? Not saying your wrong as i saw something similar mentioned earlier on this thread but curious as to the reasoning

A few things in response to this:

First of all, I believe there will be continued shock waves in the market as more Chinese exchanges start shutting down. But the real thing that is going to tip it all over is the sheer amount of BTC still in Chinese hands (mostly mined in the past) that will be released on Western exchanges.  As it stands, there is likely too little buying pressure to maintain 2500 if the dumping will again continue after some shortlasting upwards movement.

Then there's the issue of mining consortiums: how are they going to foot the bill? They will need to pay for their electricity in RMB, and China's capital controls aren't helping here. At this point, I consider it likely that one or more mining consortiums will stop operations as well, sending further shockwaves. Again: I consider it likely, there is no reason to be sure about this at all.

If Bitcoin will indeed move in a bear market, this one will last for months if not over a year. It will be characterized by a slow downward grind, after an initial drop to the 50% fib level. As 50% is not guaranteed to hold in the short term, it might indeed make sense for large whales to continue dumping at current market prices.

Last but not least: this is 2017, not 2013/2014. There is newer tech out there, and real competition as well. The crypto funds that invested in BTC are not guaranteed to keep BTC in their baskets, or at least in the same ratio. There will be funds out there that are re-evaluating what they really have in their hands right now - and they will start weighing the value of recent changes in China.
legendary
Activity: 1078
Merit: 1441
Template much ^^

What date does the CNY tether get released Wink Huh?

 Roll Eyes Grin


The clue is in the title

"the announcement on the cessation of RMB trading business"




...awhhh can you guess what it is yet???
legendary
Activity: 1078
Merit: 1441
ok  Coin

https://www.okcoin.cn/t-2510731.html

Dear users:

September 4, the People's Bank of China and other seven ministries issued a "notice on the prevention of the risk of tokens issued financing," asked the financing of China's domestic currency and virtual currency transactions to make a comprehensive clean-up work, OKCoin This afternoon officially received the notice and guidance of the regulatory authorities.

OKCoin Banks, a comprehensive digital asset trading platform that serves millions of users worldwide, has been working on technology and product innovation since 2013 to promote the healthy development of the chain and digital currency industries. The better service to the majority of users, we feel the shoulder of the historical mission, through four years of continuous struggle and contribution, we have made a lot of user trust, OK people have been so proud!

In terms of business compliance, the OKCoin Bank is doing its best to respond positively to national regulation and to fulfill its obligations, and to actively propose and explore regulatory recommendations and programs aimed at protecting the interests of users. A decision is not the end, but a new start, the industry is more healthy and more compliant development of the beginning, OKCoin currency line will continue under the premise of compliance, for the customer service.

Specific arrangements are as follows:
First, the registration, recharge business arrangements
1, immediately from 20:30 on September 15, 21:30, OKCoin currency line to suspend registration, RMB recharge business, please do not continue to recharge RMB to OKCoin currency line.
2, because the customer service phone and online consultation queuing more, if you have questions about the recharge business, please send the relevant information to [email protected], customer service will be as soon as possible to reply to you.
3, the currency, to mention the currency, to mention the current are not affected.

Second, to bring business arrangements
1, OKCoin Bank line adhere to the implementation of 100% reserve system, so please rest assured that your assets safe. In view of the possible occurrence of congestion, OKCoin line customer service will work overtime, please wait patiently, do not call the customer service phone, give our customer service a little time to deal with your mention.
2, due to the possible arrival of the queue, we will promise to mention the processing time from the original 24 hours to account, change to 72 hours to account, please understand.

3, the holidays due to slow processing of banks, large amount of cash (more than 50,000 yuan) will arrive within 3 working days, if no special circumstances, please try not to ask the question and answer to the account, so that customer service can handle more Business, ease customer service advice and business processing pressure. Due to large amount of cash to be handled manually, please try to once the yuan will be completely removed, such as will be split into a small number (less than 50,000 yuan), may be very slow to arrive.

Third, the currency business arrangements
1, you stored in the OKCoin currency line of various types of digital currency assets can be normal to mention. For possible congestion, OKCoin Bank promises to process your request for cash within 48 hours.
2, on the BCC's offer, in order to ensure the safety of user assets, we are the final security test, we will be opened before September 20 BCC, the specific time to be notified.
3, according to China's anti-money laundering requirements, all the coins still need to complete the video certification, if you have not yet video certification, please in the "fund management - cash - operation" area according to guide the completion of video certification, video certification time for Monday to week Day 9: 00-24: 00, video certification before the need to complete the senior certification, please prepare your ID card or passport and bank savings card in advance. Such as video authentication queuing more, please wait patiently, do not close the video session to subscribe to the session window.
4, you can also keep your digital assets in the OKCoin currency wallet, we will provide permanent free storage service.

Fourth, the transaction business arrangements
1, OKCoin currency line will be September 30 to inform all users about to stop trading.
2, OKCoin currency line will be October 31, in turn, gradually stop all the digital assets of the RMB trading business.
3, in view of OKCoin currency line more users, in order to protect the interests of users, we will be through the announcement, station letter, SMS and artificial telephone and other means to fully notify each user.
4, the currency of the RMB trading business to stop, the specific arrangements for further notice notice.


OKCoin Bank of the next step plan
1, this OKCoin currency line only to stop the RMB trading business, the rest of the business is not affected.

2, because regulators have not announced that the bit currency and digital assets itself is illegal, OKCoin currency will actively explore, strive for, expect to continue to provide Chinese users with compliance digital asset services.

Finally
thank every once and OKCoin money line had the fate of friends, over the years thanks to every user platform support and understanding, Bitcoin has become a global digital assets, block chain technology already existing economic system Have a far-reaching impact, OKCoin currency line will do their best to serve all users, continue to promote the development of the industry!

OKCoin currency line
September 15, 2017
legendary
Activity: 1078
Merit: 1441
HUBOI

https://www.huobi.com/p/content/notice/getNotice?id=641

Official AnnouncementCoinage network to stop the RMB transaction business announcement2017-09-15 21:27:59
respected user:

September 4, the People's Bank of China and other seven ministries and commissions issued a "notice on the prevention of the risk of tokens issued financing," asked the financing of China's currency and virtual currency transactions to make a comprehensive clean-up work, the fire coins in the afternoon officially To the regulatory authorities to inform and guide.

As a global well-known brand, from 2013 to date, we are honest and rigorous innovation and enterprising for the company culture, "no evil" as the team's code of conduct to promote the chain of chain and the healthy development of the digital currency industry responsibility, we Deeply feel the shoulder of the historical mission, through 4 years of continuous struggle and contribution, we have made a lot of user trust, the fire people have been so proud!

In terms of business compliance, the coin network is doing everything we can to respond positively to the state's supervision and cooperation to fulfill the obligations, and actively put forward and explore the regulatory recommendations and programs, and its purpose is to effectively protect the interests of users, today we make Such a decision is not the end, but a new beginning, the industry is more healthy and more development of the beginning of compliance, coins will continue in the premise of compliance, for the user service.

The specific decision is as follows:
First, registration, recharge business arrangements
1, immediately, that is, September 15, 2021, 21:30 onwards, the fire currency network to suspend registration, RMB recharge business, if you at 21:30 on September 15 after the recharge to the currency currency, the coin network will be 10-20 working days to complete the refund, please do not continue to recharge RMB to the currency network;
2, because the customer service phone and online consultation queuing more, if you have questions about the recharge business, please send the relevant information to [email protected], our customer service staff will give you a reply;
3, currency, currency, mention is currently not affected.

Second, the proposed business arrangements
1, coin network adhere to the implementation of 100% reserve system, so please rest assured that your assets safe. In view of the possible occurrence of the congestion, the coin network customer service will work overtime, please be patient, do not call the customer service phone, give our customer service a little time to deal with your offer;
2, due to the possible occurrence of queuing situation, we will promise to mention the processing time from the original 24 hours to account, change to 72 hours to account, please understand;
3, the holidays due to slow processing of banks, large amount of cash (more than 50,000 yuan) will arrive within 3 working days, if no special circumstances, please try not to ask the question and answer to the account, so that customer service can handle more Business, ease customer service advice and business processing pressure. Due to large amount of cash to be handled manually, please try to once the yuan will be completely removed, such as will be split into a small number (less than 50,000 yuan), may be very slow to arrive.

Third, the coin business arrangements
1, you stored in the currency of the various types of currency assets can be normal cash. For possible congestion, the coins promise to handle your request for cash within 48 hours;
2, on the BCC to mention, in order to ensure the safety of user assets, we are the final security test, we will be open before September 20 BCC cash, the specific opening hours to be notified;
3, according to China's anti-money laundering requirements, all the coins still need to complete the video certification, if you have not yet video certification, please refer to the following tutorial to complete the video certification, https://www.huobi.com/p/content/ help / getHelp? id = 53 . Video certification time from Monday to Sunday 9: 00-19: 00, video certification before the completion of C2 certification (perfect information), please prepare your identity card and bank savings card in advance. If you have completed the U-level certification, please prepare your passport and residence certificate in advance. Such as video authentication queuing more, please wait patiently, do not close the video session to subscribe to the session window.

Fourth, the transaction business arrangements
1, the coin network will be September 30 to inform all users about to stop trading;
2, the coin net will be October 31, in turn, gradually stop all the digital assets of the RMB trading business;
3, in view of the number of fire coins users more, in order to protect the interests of users, we will announce, station letter, artificial telephone and other means to fully notify each user;
4, the currency of the RMB trading business to stop the specific arrangements for further notice notice.


The next step is to plan
1, the fire coins only to stop the RMB trading business, the rest of the business is not affected;
2, because the regulatory authorities did not declare the bit as currency and digital assets itself is illegal, the coin network will actively explore and strive for, expect to continue to provide Chinese users with compliance digital asset services.

At last
Acknowledgments Everyone who has had a relationship with the coin network has thanked each user for their support and understanding of the platform over the years. Bitcoin has become a global digital asset. Block technology has been generated on the existing economy Far-reaching impact, coin network will do their best to serve all users, continue to promote the development of the industry!

Fire net
September 15, 2017
full member
Activity: 124
Merit: 100
It nearly touched the weekly MA20 (currently around 2900USD)  today and bounced back from there. A sign that the bull trend may not be over yet.
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