Bitcoin Forum

China was responsible for the current pump but was unable to rally enough people to join them and move beyond 500 in USD terms.

The question is, will they return and pump it up again in the next 30 days?

Always go back to fundamentals.
How are they?
Currently very bad, not supporting a rally.

When problems get addressed we can move on up again. Let's hope sentiment hasn't killed it by then.

china whales don't have interest for pumping anytime soon as china's biggest holiday is around the corner.

So if it's china like you say , how the price decrease came with both Cryptsy getting hacked and Mike hearn bullshit ? or they did it on purpose ?
Anyway , If it's actually the case then there is nothing to be afraid of , it will come back on the next 30 days if not sooner .

yes they have been very successful pumpers - they got the price up from abut $300 to $450 very quickly so why would they not do it again? And begin reasonably soon - yes within 30 days would also be very likely.

Bitcoin might go much lower but if you buy small quantities now daily your av price might for them be say $320? within 30 days. So  if they can repeat the trick of a $400 plus price in 2-3 months you will do handsomely (ie make 25%.)

ehm you're forgetting that china whales are = miners, so yes they have enough interest to pump it

every big farm out there is sittimg on 100k+ bitcoin at very least, because they can earn something like 100+ btc daily, in one eyar this already 36k, and they have not started mining this year you know..

No, this massive drop is part of a complex correction, which IMO is not over.
I am expecting certain rebounds, but certainly not a new rally, and the market to make lower lows during the next 30 days.

First of all, The top zones right through 2015, which was also consolidated upon through Nov 2015 ($310-$330), should now prove very strong resistance. However, take the move from $460 -  $350 ($110 dollars people!!), take the highest point of bounce, currently $380, but lets say $400 over the course of the next few days (providing yet more downtime aint impending), then project another $110 downside from $400.......this would be totally typical harmonic price action for Bitcoin to follow. We can see these harmonics all over the place in Bitcoin, bullish and bearish trends alike. Anyhow, if that played out, then that would make $290 Bitcoin. $285 Bitcoin, would see a 61.8% retrace (Stamp) of entire move from $150 - $500.

the fundamentals are neither bad nor good. That means for now there are no good arguments neither for an increase nor for the decrease. And that is exactly what is happening. Pumpers are still accumulating dry powder to have enough ammo, once the halving gets closer. On the other hand bear trend has been ended in 2015, and now all the bears can count for is a correction. That is happening right now, but it shouldn't last long, as there is quite a lot of supports from here to $350.

yes, and I think they will make the price of bitcoin rose to $ 600, they could not say anything to see this happen, because so many users bitcoin originating from China, even the china in my area also use bitcoin, because I know someone from their  ;D

i dont think so because now is closer to chinese new year, i've prediction price will dump again but it will not for long time, after chinese new year price will slowly up.

they may do it. it's easy to put the bots to work. all the exchangers are doing that. fake volumes, fake transactions...:)

I think 30 day timeframe will be accurate for bitcoin to come back to 400 up but it can happen with or without chinese pumpers nobody knows.

I hope so but literally have no idea which way the market will move next. There isn't really any clear indication to say either way.

Added another option to the poll.  'Maybe'. 

I agree that we are in Chinese hands. I think that the MMM pyramid was the greatest factor in the pump - I would like to hear from some Chinese users if MMM China  is already saturated or not.

You're joking, right??? China men/women/children do NOT fall for ponzi schemes like MMM. They too smart for that kind of shenanigans.

We're close to the Chinese New Year, so who knows what the fuck can happen?

Is that about the size of it?  I have no clue whatsoever whether China or anyone else is going to produce a rally.  It seems like the bitcoin market is moved by small things, apparently.  Mike Hearn's statement.  Cryptsy going kablooey.  Why would China suddenly have a reason to push the price up?

I think next step will be 650$,wha,maybe first will Dash,LtC pump
But that  speculative  move down is showing up
Chinise are buying at that level

Be cautious of the Chinese New Year. If the Chinese truly are in control, they will probably cash out right before the New Year in order to avoid having to monitor a volatile asset while they are out getting shit faced.

I don't think this dump had anything to do with the Chinese and not everything in the crypt world is related to them.Mike' resigning from this project could also affect people and i think they will eventually take the price to some desirable value.

I am sure the price will come back up to +$400 levels this month again. The price drop that brought the price down to very low $350 must be seen as a gift to people that have used that situation in their favor and bought themself a good bunch of coins. Wait and see what happens.

It's surprising to see that more people think the Chinese pumpers will come back.  I thought most would be in bear mode by now. 

How do the Chinese get shit-faced? All Chinese I've known can't metabolize alcohol into anything other than an immediate, severe hangover.

remember that chinese want bictoin to grow, they control 60ì%+ of the whole mining scene, so if they are in bear mode, now it's only because they want more cheap coin, by riding bad news like cryptsy and mike

their ultimate goal is to pump bitcoin, for obvious reason

I do not think that someone who control more then 50% of miners will spend more Fiat to Pump Bitcoin price up. They have a lot of Bitcoins and they need to keep maintenance and pay for bill.

But they can maximize their profits by turning the price into a cheap coins and then pump it back up to sell it for a hefty profits :P
Just because they have a lot of coins doesn't mean they would not buy another few coins ;)
Also electricity in China is pretty cheap thus making them controlling most of the miners out there

i don't sure if china can pump bitcoin to raise the bitcoin price again, so i decided to say 'maybe'. people in china seems isn't have any affection to the Mike, as a result people in china goes normally, though the message affected the traders outside the china.

They can't really pump the price alone but they can dragged the community to help them to pump more. They can move a price and when that's happen other part of the bitcoin community will join the rally by buying more coins that will increase the price.

Of course not. People have been swimming in good sentiment and you think 2 happenings will change that? Nope. Block halving is the key here. If we didn't had the block halving comming up, then it would be a whole different situation.

Wouldn't say it was a pump to begin with, that was genuine asset appreciation. We definitely saw a concerted dump though with the MH/Cryptsy stuff, someone clearly sold and shorted on the way down preying on the usual hysteria.
Re Chinese New Year - even better for BTC imo. All the Chinese sat at home with family talking about how bad the economy is - what better time could you have for 1bn people to learn about BTC and possibly convert some Yuan into the digital currency?


This is a clear buying opportunity for people who have cojones.

First i was very confident that this would happen.
They tried very hard to get the price to 500 dollar.

But now they encounter a hard goal because after Hearn, there is way more resistance.

The pump did come.  But not good enough to get the momentum going.

What about now?  Still think China will pump again?

yeah, there is no way that they lett their profit be inferior to what it was before, miners profit will always remain the same, i can argue that they are mining the same $ in bitcoin since block 50 and it will continue to do so after the 2028 halving

so the 2x increase after each halving is not as bullshit like many think, it's just not straight 2x of the last value, but 2x of the value that will maintain their profit equal for each new halving

China's Central Bank Discusses Digital Currency Launch if this thing happened, Yes Crypto will go to the Moon i think

The People’s Bank of China (PBoC), the country's central bank, is moving toward the launch of its own digital currency.

The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing.

Attendees included central bank governor Zhou Xiaochuan and deputy governor Fan Yifei, as well as a group of “relevant research institutions, major financial institutions and advisory bodies of experts”.

Notably, the central bank put together a team dedicated to digital currency research in 2014 – the work of which played into the Beijing meeting.

In addition, the PBoC received input from Citibank and Deloitte, as it weighed up how to issue the digital currency.

According to an unofficial translation of the release, the meeting urged the PBoC's digital currency research team to "actively absorb the important results" and to "further clarify the strategic objectives of the central bank-issued digital currency".

Further it should research key technologies and various digital currency applications for the "early introduction of digital currency issued by the central bank".

While the release gave no precise indication as to when the digital currency might be released, the central bank did give some indication of the factors driving its development.

Design of the digital currency, it said, should be based on "economic, convenience and safety principles', while low cost and "wide coverage" were also requirements. #coindesk

i am quite sure the chinese pumpers or whoever they really are come back and cause a massive bull run. the only thing is, where will the price end up going. if we go back to lower $300's, which i don't think will happen, the the bull run will probably peak around $500-$550. that's not exactly what people were hoping for. it is what it is, we have to deal with it if it turns out to be like this.

I don't think this will be a good time for BTC - this looks like a move to close the crypto backdoor to their financial controls. Once they do that they will want people to switch from BTC to that new cryptocurrency.

What most people here are hoping for is unrealistic. If they know how markets work then they would be a whole lot less optimistic as far as the short term goes. Some people think the price would reach $1000 in January....uhhhhhhuuuummmm. Hope is gone.

yep, most people are lacking common sense. i wonder what they feel if their high predictions will end up being nothing more than an illusion.

So BTC at 1000 USD has a very low chance of happening then?

I'm sure that they will, I believe that's where the most of the bitcoin movement comes from.
Sooner or later bitcoin will go up.

I haven't hear this news. If someone can give any data about this would be appreciated. Two days ago was a very big formal news - which was not directly connected with bitcoin - from the Bank of China. Maybe this might mean some step ahead regarding the status of bitcoin in this country. But this news was not reflected at the price of bitcoin. Even, was see e little decrease of its price. It is not that is augmented more than the real one the role of the Chinese market regarding the affection of it on the price of bitcoin? It is only a supposition given that I have any kind of data to support it. But I don't see some clear connection between these two factors except the fact that the price of bitcoin the last days (not today) was a little higher at the Chinese exchanges compared to other important ones in the rest of world. If it was this the only fact taken in consideration in giving such hypothese for me seems a little less to consider as true the claim of OP.

Can you explain a bit more?

Sure:

1. I haven't hear that the last pump was caused from China. Is there any source which give some data about this? That my question doesn't mean that what is told by you in main post is wrong or not true. Only that to be credible in one claim like this which is made by you at the main post must be given some data which prove it. If you show those I can agree that what you have told is correct without any problem.

2. My impression is that seeing after every move of the price of bitcoin China and Chinese bitcoin market is a little exaggerated. We had a few days ago an increase about 50 us dollar (dollar less, dollar more) of the price of bitcoin. For me this is a normal move of the price of bitcoin and not a pump connected with China or Chinese bitcoin market. I have doubt even if can be named pump. I again have no problem to agree that I am wrong if your give data which can put down my reasoning.

3. Two days ago the Bank of China did a statement which was a hymn about the cryptos and the technology which serve to produce those (peer to peer). This normally (if is known the mentality of Chinese and they way of doing thing) is a big and open step ahead of the Chinese Authorities versus this technology. This mean even big possibilities that the status of bitcoin (which is semi regulated at China) goes ahead. This news and this possibility, if the Chinese market would have that importance given by almost every post here at bitcointalk when is treated some increase of price of bitcoin, would be reflected in some way and directly at the price of bitcoin. While in the reality from two days before the price of bitcoin was decreased by 20-30 dollar. So the market not even don't reflected positively this news but went down almost the amount of the pump mentioned by you. I think that was indifferent and the movement was a normal movement of the price of bitcoin like almost all the movements of its price in time. This could be a sign or fact that the Chinese bitcoin market might be not always the factor of every movement of its price. And again if you give facts who show that this my thought is a wrong one I would have any kind problem to agree your facts.

I can't really predict this because nobody knows what they will do, however we are only just a couple of negative statements away from a true Bitcoin crisis. Many companies are leaving and selling their BTC investments and that's the reality. Hopefully the storm will pass and Bitcoin will be able to survive as it usually does, but the next weeks/months will be hard and turbulent.

I don't see as much companies leaving bitcoin or selling honestly.
Thinks are like normal, the high volume is logic when there is much fluctuation.

There is no doubt a new pump will come.
But the question is when and for what goal. The current pump was to show bitcon is still alive f.e.

Yes they will pump it again.
My guess it willl come in march and the goal will to establish a new price for the halving.
If not well then we are in some problems.

I am sure they will do another pump with 2/3 months. Maybe even sooner.
It's their way of making money.

You don't see them because it's implied in some news or statements but I know for a fact that there are plenty of companies and starups trying to move away from Bitcoin in the recent weeks, it's sad but true. This doesn't mean Bitcoin will die or anything but I'm afraid it has become too tainted with negative headlines every week and many scandals under its belt.