That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.
Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.
You're gonna get a bear tag for this!
Gee, it was a simple market analysis. You guys really need to calm down with the manipulation talk. Honestly, market demand/offer is ALWAYS a stronger force than manipulation. It sounds rather silly to me that people look at the biggest wall on a market and say very securely that it is manipulation. Have it occurred to you guys that the one can only manipulate within his buying power? I.e. one can never manipulate more than one can buy.
Getting on-topic, bitstamp resistance is being crushed at a steady pace, we're getting close to nice price pump up. Of course, with mtgox still processing a much larger volume than any other market, this will probably go much slower than what we've seen in the latest bubble, which is actually a good thing.
One thing that is confusing me is the market profile of btce, why is it so concentrated around the trading point?
Who is lining up to stup up as a major player in bitcoin trading? I don't like the current situation at all, bitcoin economy is very fragile, we need much more adoption and even more large markets.
