Bitcoin Forum

Bitcoin keeps outperforming every other asset on earth. It's amazing to see how the price is going higher, leaving back the OkCoin price. Currently in Bitcoinwisdom:

Bitstamp 1037.31

BTC-e 1026.938

Bitfinex 1042

OKCoin 984.19/6747.1

Wow!!! 53 dollars of difference already. Bitcoin is no longer waiting for china. Im sorry chinese guys, you need to hurry up and get your money out of that country, start stacking up on bitcoin by buying on other exchanges. Bitcoin waits for no one. ATH incoming.

Tradeblock has OKCoin at 1037. For some reason Bitcoinwisdom has the wrong price for OKCoin.

Well that's how bitcoin supposed to be. Since bitcoin is quite much distributed now, the role now for the big hoarders (or your even called China thing) is to make a FUD or create sudden dump. But even with that kind of doings, it's up to people if they will follow. In this, we can see that community is the one making this a strong currency.

Let's us see what will happen next and be sure that you have a spare extra funds. 8)

Only if the ETF is approved ;) I think the bullish trend of the past weeks is related to speculation on this event.

As some are as delusional to predict a $3000+ price if the ETF is approved, they can even try to bet on the ETF by buying Bitcoin - and bet against it at Bitmex, as the expected gains by an exploding BTC price are much higher than the expected Bitmex losses if COIN price is over 30, for example, and in case of not being approved the price should not go lower than $600 (maybe even $735 holds). (I should really do that math in detail, but on a first glance it seems reasonable to buy now if you think there is some probability of approval)

I personally don't see why the ETF wouldn't be approved if you consider that the Winklevoss brothers have had enough time to iron out any doubts that the SEC might have had at the beginning. I however think you're a bit too negative when it comes to the price in case the ETF doesn't get approved. I can understand that due to the disappointment of people some might dump as result, but I can't see the price fall below $800 just because of that. It wouldn't be fair.

I think the most important thing was that Bitcoin showed strength and resilience in recovering from the constant waves of FUD that have come from China, since the beginning of the year. I hope Bitcoin continues to demonstrate such a performance.

This is a bonanza for Chinese who want to get money out of the country. Not only does bitcoin provide an easy way out, they can also profit if they send bitcoins out of China.  ;D

You may be right, but the low probability experts estimate for an approval (https://news.bitcoin.com/needham-probability-of-approval-for-a-bitcoin-etf-very-low/) isn't there without a reason. Also, on Bitmex, the current price for the binary asset (100=approval, 0=disapproval) is 34 (https://www.bitmex.com/app/trade/COIN_BH17) - so traders also are thinking it's less probable than 50%.


There is no such thing like "fairness" in Bitcoin speculation ;) Was the <$200 dump in 2015 "fair"? Is it fair that early adopters that played around with play money in 2009/10 can be multi-millionaires when Bitcoin prices over $1000?

I personally don't think price would go much lower than $800 (735 or 780 are my best bets) in case of a disapproval, but as I estimate that some are speculationg on a positive outcome, we may see a dump of more than 10 or 15%.

The dump may not even happen. Some people were expecting a dump toady because of more chinese news regarding the freeze of withdrawals for one more month and the price went up, so all those shorters got destroyed.

Sometimes you expect something and the opposite happens.

The reason I expect at least a 10% dump in case of disapproval is that I think many people are speculating on a price increase because of a possible ETF approval. These people will want to get out of BTC with the slightest micro-downtrend if there is an adverse decision about the ETF.

But if the BTC demand actually is strong for another reason, then you may be right. Although I don't remember any bullish fundamental news in the last weeks, so the recovery - if it wasn't because of the ETF - is a mistery for me.

I always choose preev and coindesk to see the price chart everyday, but in recent days preev is not working apart from conversion of USD and EUR. Coindesk is performing good. Until bitcoin is globally accepted as a centralized currency, till that it is not possible at all. Chinese were most cunning guys they will work on the time which prefect for them.

Bitcoins clearly wait for no one. The great thing with a global currency is all of the good and the bad affects the price of bitcoins but it's all at the exact same time. When the price is going up like it currently is there are more investors or more people paying more into bitcoins then those selling or leaving. It's not all about China folks!

It is interesting to see 1k being defending so hard as well as the constant ascent to ATH. The ETF will definetly be great for Bitcoin and if it doesnt go through, I dont think it affects Bitcoins mission at all. 1k is a solid entry for new funds starting in the blockchain space and looking at a 2-5 year long term goal in mind. We really need to stop nickel and diming a deflationary asset for so long.

you can't arbitrage from okcoin to another site, because okcoin tjis now is still pending about withdraw, still investigation from china regulation, until next month march, and okcoin in dollar market payment only support use perfectmoney and okpay, so is very dificult if you want arbitrage

CNY price at OKCoin is 6920.00 which is $1,007.73

and nothing has stopped Chinese from accumulating bitcoin, you should check other places such as localbitcoins for Chinese volume and see how the volume there has gone to the moon ever since this thing with PBoC started.
they just moved places :)

Lucky are those who have the money to accumulate. My hope for a $900 price might just be a distant dream right now as the price keeps bucking bad news and continues to break resistance levels like a freight train. Nobody knows until when this is going to happen but surely lots are having the ride of their lives.

this is yet another proof that China has never been as big as a player as most people around here think it is. we can't obviously deny the effect that Chinese have they are big traders but we can clearly see that with them out of the picture bitcoin price is still strong and even it is rising.

The short term manipulator may come from any country and it is assumed that we had similar players from China to pump and dump bitcoin prices in recent times. But it doesn't mean that bitcoin prices is always depending on them for a rally. There are lot of other economics around the world to impact bitcoin prices and that is what happening right now after China faced huge sudden regulations with their bitcoin activities.

Still, China has obvious reasons why they had impacted bitcoin prices explicitly like more mining power, investors and adopters. Hence there would be no wrong on our assumptions of their control over bitcoin prices.

Definitely accurate but most of us including me blame them for everything without looking at any facts or clues. Ok they manipulate but they can manipulate all the time, once huge pump on price came from Europe exchanges and Chinese didnt follow at start they they were included.

--- for this i totally agree

i like that china isn't that big on bitcoin market, they control already the mining ambient, if they were big on the market too, would be too much centralized and risky to have just one country dictating the value, now we have japan as well which is very big in the market and hopefully other country will come to help decentralization in the market

Bitcoin is upcoming and growing, so in that regard it doesn't surprise me a single bit that Bitcoin is outperforming all sorts of assets. It won't continue to happen for ever, but for now we can enjoy being part of something revolutionary at what I still consider to be an early stage. At this point it's too early to say something about China's 'leading' role. It's just waiting for what will happen once withdrawals will get activated again. Other than that, I am closely following all developments in Japan. It's not for nothing that the volumes there have been increasing lately.

The performance of bitcoin this month is a spectacular performance ever in bitcoin nowadays, because it maintained to be stable at 900 to 1000$ if its price value. Compared from past previous years , I think it made an history of digital cryptocurrency price journey.

For Bitcoin nodes & development, the US still "rulez". See here the distribution of Bitcoin nodes (https://bitnodes.21.co/). Although the node density (nodes per inhabitant) is higher in European countries like Germany, the Netherlands and France. (China is actually at position 6).

Nodes do not only mean "more users", but also more Bitcoin businesses - from exchanges to ATMs, payment processors and "real goods" merchants. Trade volume is a bit more centralized because Bitcoin is still too small to have a high-liquidity exchange in every country, but the large exchanges are also pretty well distributed (from the US to Slovenia, Japan, China). The only really centralized Bitcoin business is actually mining with the largest pool sitting in China, but that can change.

In fact, Bitcoin is already pretty decentralized. The "Third World" (Asia, South America and above all Africa) is still underrepresented, but there are upcoming Bitcoin hotspots in countries like Nigeria.

Can we expect mining in China to slow down a little bit considering new rules. Minerals must cover their expenses, and they now cannot sell in China. They must go expensive way, this can be end for small miners in China? This will maybe make room for decentralization of mining?

I think the small miners in china is the largest, the majority of them being mining as an alternative income. They'll save and wait until the price becomes higher, so I am sure they will not die.

The price has risen over 25% in the last 30 days. It is a good performance.

Not just in 30 days.

It has been risen for 100%-200% for the past years. Look at the price history and we can see the tremendous rise even lots of price decrease happened.

The simple logic behind this must be doubling from $1 to $2 is not taking much time but from$2 to $4 will not more time and I believe this is what happening now.

As you mentioned bitcoin as showed many tremendous appreciations in short time periods still I guess the recent surge must be a a good one. There will be no wrong to acknowledge this as one of the spectacular bitcoin performances.

Its not 25% of the value. It raised about 100$ and more. Many of the speculations said that bitcoin will touched it's own peak value in the month of February. This is was happened already.
Speculators, what would the next peak value in the month march. Share your views on it and we may hold after hear your responses.

I am also very surprised. When a few days ago I saw we were very close to 1200$, I said myself that this is the final run before this is the end of this lovely nice ride, but it was not th case, and we stayed very close to 1200$. This is just awesome !