Bitcoin Forum

Panic sell is about to be completed.. epic rally to follow...
Curious to if BTC will follow the rally or ppl will dump BTC to jump back in.

Hmmm, don't know that the selloff is really done or that an epic rally will follow. Price never moves in straight lines..... doesn't look done. But it's not something I watch very closely either, being that I don't have access to the Shanghai composite or similar.

BTC has such a small market cap that I really think it's difficult to quantify money moving in or out of the stock market and into or out of the BTC market. I think there are correlations in price reversals across lots of instruments (time-wise) -- probably something to do with mass psychology -- but I think it would difficult to point to a strong correlation between Shanghai and BTC here.

at this point it would make more sense that when the stocks are going down considerably, people use that money to find another rewarding investment. bitcoin is such an investment. that being said, i don't think that bitcoin will follow if stocks are going through a massive bull run.

I think it's more like...... when investors head for the exit in risky investments (equities), they usually turn to safe investments (bonds, strong currencies, etc). Bitcoin seems even much riskier yet to the average investor than do equities, IMO. Bitcoin is a new, virtually untested asset class with such small market cap that it moves like a penny stock.

No money, no honey and all that.....

i think from tuesday we can start buying cheap stocks

rally in china or US? china-probably, but US might double dip eventually to ~1700 on SP500.
fast markets-whoever bought in am was not too pleased by the eod.

I wouldn't be surprised if Shanghai was sitting on 2500 points by the end of the week.  A full 50% down in just over two months.

shanghai opens at ~3K, but down 1.53% since I started typing
edit: now -2.26% (2898)

Last time I check with my chinese friends, their parents are buying up the midwest houses to flip from brokers.

Then again, they do probably do both, where they see the market in a downfall take money from other sources.

they can take only $50K/year out of China.

Thought that limit was increased? Read a story about Chinese money shifting from houses to warehouses and small business with the increase.

The markets should rally for the week, at least till China drops again. So many in China are overextended in the stocks, its the potential domino.
Think thats still a ways off, China will save face and find something External to blame it on.

But what if they use their different methods to take money from china.

They use physical gold I`m sure and load it up in suitcases in stuff unique ways I`m sure. Or use bitcoin lol.

cant they just buy a shell corporation and own a business checkings account and have more access then to 50k.

One way is to use their lawyers account to buy a house. Happens here in Vancouver all the time.

Chinese are only allowed to take $50k/pa out of China.  But they obviously can move much more very easily. 

One simple method:
http://www.afr.com/news/world/asia/macau-flush-with-china-cash-20140829-jd3r1

"There is also a daily limit of 20,000 yuan ($3476). However, ­gamblers get around these rules by ­purchasing expensive jewellery or watches in Macau and then selling it back to the shop for cash, minus a ­service fee."

For larger amounts use a shell company, direct the money through a legitimate business, or simply pay off anyone who comes asking about where the money went.

Damn, thats pretty crazy to see people doing this though.

And if they are doing this in macau and gambling winnings as well with purchasings expensive things to sell it back on the state side, they must be doing millions.

You can also send to Hong Kong and then where ever you want. Hong Kong does not have the same restrictions.

not only Chinese stock market but all stock markets have fall this weeks. i hope this is time Bitcoin will rise again.

َAsian countries special Easter countries made A heavy blow to BTC ...... they never can revive BTC .............