buying seemingly started on both stamp and huobi
I was expecting someone to close the arb gap on them. but this will do.
I was expecting someone to close the arb gap on them. but this will do.
So we're through the December ban , the January one , the April 15 deadline , the may 10th , why do people still watch Huobi?
The lack of buying interest in the west, creates the need to follow the Chinese 0% fee exchanges, with simulated volume. So, everyone could continue to live in their make believe land. thinking that there is demand for bitcoin somewhere.
When Chinese exchanges finally close, then soon there will be a proper drop, because there is no fake dreams to follow any more.
Wait, Chinese exchanges are closing?
The Chinese exchanges have been running on a borrowed time since December, when pboc declared that they don't want to see any business activity in China involving bitcoin. Now they are just gradually toughening the laws to gently root out bitcoin without any major incident. The bitcoin market is foolish and inefficient for believing the Chinese exchange owners, on how they have a really good feeling that everything will be all right. The Chinese exchanges were just trying to act confident to keep their business alive as long as possible and to rake in as much money as possible, before you can't even play legal tricks to keep the business going.
That makes no sens, the pboc have never said anything about stopping exchanges being operational and they can just move offshore if they need.
Plus I always here that Chinese volume numbers are fake so they probably dont hold as many coins as we think.
