Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28567. (Read 26712856 times)

I'm pretty sure that if they would have dumped all of their coins, then the price would stay at 10$ or less.
FBI seized 250k of DPR coins that he earned with commission. And these were the coins that were given to them, without knowing if DPR actually has more coins. If you understand the technical properties of bitcoin, then you know how easy would it be to hide your funds, with only you having access to them.
Now imagine the amount of business that goes on at the exchanges. Think about commission that they are earning and think about how little expenses are needed to keep an exchange running.

I don´t see a lot of bulls in the orderbook&trades, i see a lot of future bagholders.

If we do NOT hit 400 within 24 hours (where I want to buy some ), I will change my stance from slightly bullish to bullish.
The bears can't touch the 400 with all this power? These bulls must be on crack!

Summary of bank transfer status from this CryptocoinsNews article

Bter:      deposits halted, withdrawals still possible.
OKCoin:    deposits and withdrawals still possible. [was here @ 22:48]
FXBTC:     bank deposits halted, bank withdrawals will be halted Sunday.
BTC38:     both deposits and withdawals suspended.
BTC-China: only 3rd party transfers suspended, not notified by banks yet. [was here @ 2014-04-02 19:31]
Huobi:     ??
ChBTC:     ??
BTCTrade:  bank deposits and withdrawals still OK? (3rd party processors halted). [was here @ 2014-04-02 20:10]
BTC100:    ??
(others?)

EDIT: BTCTrade,  BTCChina updated; OKCoin fixed per reddit post.

Huobi for instance, is a 0% fee exchange. Meaning that they aren't interested in making profit on trades. Their interest is more probably into using their customers funds as an 0% interest loan, so they could fuel their own investments. So, I would guess that their interest would be to avoid a sudden bank run, so they could pay everyone in a slower rate.

I'm pretty sure they dumped their coins ages ago.

I was actually thinking the same right after the first rumors regarding the possibility of shutting down the bank accounts of BTC exchanges.

The shutting down of capital flow to BTC is understandable for the Chinese government.
Because...
China is maintaining a quasi-fixed exchange rate with the USD. But with people being able to freely exchange YUAN to BTC and than BTC to USD, basically makes the Chinese yuan a convertible currency. Which is exactly what the Chinese government doesn't want.

BTC was a gateway for capital flow from China, especially for rich Chinese who wanted to get their money out of the country.
This did push the price of BTC higher than usual, but the effect is not that great, because BTC was just a medium of transfer, not an end result.
Eventually that BTC got sold, in US, EU, Australia for fiat.

So, for most of these Chinese who want to get their money out of the country, these days may be the last in which they may be able to easily do this.

I have full confidence that eventually the Chinese will find some other way to buy BTC, after all, unlike fiat which can be controlled at boarders, BTC cannot.
So it will still remain the best and easiest way to get capital out of China.

In a recent speach by a deputy-direct of PBC, he stated very clearly that the PBC views bitcoin as a currency, not a commodity. It is very likely that the PBC will try to regulate it, but definitely not ban it.

I tend to have this problem, too.

Right boys I have just bought more bitcoin. Expect the price to plunge.

 

I fixed the above additions b/c they are inconsistent with the initial post and make little sense within the context of the initial post

Exchanges make their money on volatility. Its no surprise that they would spread their announcements to encourage as much trading as possible

If we aren't bouncing it means we soon should be trending up

The most frightening thing about the situation is that bitcoin unlearnt how to bounce properly.

i know wtf are they waiting for


oh ic

It's not reckless, it's business. They are just dumping their personal coins before they announce something that makes the price drop more.
Why do you need their announcement to realize the situation?
Like the MtGox folks, who believed that everything was ok as long as Karpeles didn't say that it's all gone

Explanation

Lack of news from Huobi and BTCChina is reckless.

I woud not be suprised if the trend change directory afer news to uptrend . China people for this period of time have last chance to buy in mainland,  up to now they bought for reasons, one of the them was that it gives profit in long term. Why they have to change they mind now.

This particular depiction is missing the past in order to understand whether the prediction is reasonable and within context

The problem is that even if holders are afraid, logically they/we CANT sell right now.

The history of volatility on Bitcoin means that selling during panic is just too risky. Hell, in just the last month it went from $400 to $700 in a week, then from $600 to $450 in a week.

What reason is there to sell now? The bad news is out. If you were afraid of China news, you were selling a month ago. You can't sell once the China news is already priced in.