Bitcoin Forum

Hello,

Do you have any ideas what can happen with bitcoin value after the biggest china exchange will make btc withdraws again possible after 30 days suspended in 9th march ?

It will be a positive as people will be comfortable about buying bitcoins and withdrawing them. It will be a return to business as usual.
But the date to watch is 2 days later, when a decision on the Bitcoin ETF will be taken.

Can you explain exactly what ETF is ?

ETF is exchange-traded fund in this case we are referring to - Winklevoss Bitcoin Trust COIN.
Normally ETF keeps assets such as stocks, commodities, or bonds (in this case Bitcoin) and trades them.
We all are waiting for 11 March which is the deadline for SEC, they will either give ETF stamp of approval or disapprove it (again).

I have mistaken that "whaaat? 9th march" date as if asking of dump events incoming right before the deadline. To be honest I am totally exspecting the SEC to shutdown the ETF. Would be a major leg upwards, reaching into big capital markets. They will not allow that, you can smell bribes, hookers and blackmailing working in the backgrounds.
So my expectations for the 9th are: A dump will happen. But china doesn't have anything to do with that.

I wish you are wrong, if there will be a dump that will happen, it will probably affect the price so much as we are in the upwards direction now and in fact we are about to cross the $1,200 again. China is known to be the biggest holders of bitcoin, but it's not guarantee that there will be a dump that will happen.

What? The BTC price has been rising since this exchange got suspended. What are you talking about?

A primary benefit of bitcoin is the fact that one isn't tied to a single exchange to make a transaction. This one Chinese exchange isn't holding up anything.

we can not possibly predict anything about what will happen that day. only because in reality that exchange service which is only one out of a couple of dozen big exchanges, opening or closing has no effect on anything.
so depending on the news and how people will react to it and whether there is FUD or not it can change.

I doubt anything positive will happen on both Chinese withdrawal issue and the BTC ETF's approval. This is what I think. Days before March 9 the Chinese exchanges will release statements saying that they will extend the ban on cryptocurrency withdrawals due to complications with the PBOC.

2 days later the BTC ETF's application will be denied. Hopefully nothing of both will affect the price of BTC.

I beg to differ but both are going to influence the prices of Bitcoin on the exchanges. The ETF approval will definitely create demand and I think the Chinese withdrawal issues will also have positive effects on the prices because it will be possible to sell again and new supply and demand trends can push the prices higher.

If everything will happen like you said then I agree with you that hopefully, and most likely, it won't affect the price of BTC. We can expect such a scenario because we are in this situation for a while and the price of BTC ... well, not falling, that's for sure.

But if at least one of the above will have a positive outcome then the price of BTC might start rising.

nothing is certain but it is possible that we may see a small dump. mostly because there has been a rise recently and if the rise sustains and continues going up we will need a correction and China has always been a good source of FUD for making the price go down and buy cheap coins.

I think there would be no problem when that happens. Right now, the trading is still continuing and we have not heard of anything significant about what is happening over there. But what will happen on that date we might never know since people might start panicking and start following the first one and everyone selling enters a selling frenzy.

Massive withdrawals could really lead to a price plummet but I don't think that will be the case even though the lifting of the withdrawal halt will happen. As is the case now, even if there is a hold, bitcoin has remained strong and I doubt if the withdrawals are really going to be that high when that day comes.

I think bitcoin price will take a dip as a lot of people will start panic withdrawal from those exchanges.

I was thinking  that if China exchanges will "return to normal life" chinese people will be buying a lot more bitcoins like it was usually. So it can mean for us price will grow up to 1500$ very fast. Dont u think so? Price is rising since 9th feb. When the biggest exchange will start to work normally it can make explode value of bitcoin i think, dont u ?

I think LocalBitcoin traders are the ones that are going to felt the it, because people buying from LocalBitcoin always pay premium price but for the exchange prices I doubt anything would happen, ETF approval is what the market will be anticipating not Chinese exchanges

There is nothing to worry about. The possible thing to happen is that bitcoin will temporarily decrease in value due to the withdraw but it will recover suddenly since users will just sell their bitcoin so they can transfer to other exchangers and buy bitcoins again. Or possibly there will be no movement in the price since they will just withdraw their bitcoins and will not sell it.

On 9th march, there might be no certain happening that will happen to bitcoin and it might be back to normal again but two days after that, In my opinion we will see a dump again if many Chinese traders panic sell because of something that will happen after 9th march or we will see bitcoin's price manipulated again. It really depends on the  BTC ETF's application approval or disapproval if it is approved we might see yet another upward movement in price but not that big but if it is denied we might see another dump.

Is there a special event would happen on March 9 that can affects the value of bitcoin? Am I outdated?
So I guess there is something to do with withdrawals, well we don't need to panic because we really don't know what will happen exactly. I think it has no a great impact on the price after that, if it have maybe the value will decrease a little slowly and go up again after several days.

No i don't. but there is no something special on 9 march. just the day before the SEC decision about approving the bitcoin ETF in US. Something special will be happening on 11 march. the withdrawal block by PBOC is not mean something in this time.

With the Bitcoin ETF happening there is very much a chance that the price of BITcoin will see a new ATH this year.
However, if this will not happening, i guess we go back to 950 USD, but somewhere later this year go back to a new resistance @ 1300 USD.

IF you are possitive thinker you will see also search on google for more information i just search it and there will be big jump happening of the price of bitcoins but still im holding bitcoin if this happens i will probably exchange my coin or sold my coins.

some people says the price will be pumped but some people also predict there will be dumped happened and the price will back to $1000 below and on my thought the price probably will slightly down but still at range $1000

I really don't know what to expect from 9th Mart. I was expecting some big fall in bitcoins price on Chinese New Year, expected that many users will withdraw tegu money cause of celebration. But the price didn't change even a little. So I will not make some new prognoses about the price.

Im pretty sure at 9th March chinese will dump bitcoin value, since a big exchange had frozened the withdraws, i dont believe they will damage the price a lot but considering the volume the exchange has, its possible bitcoin drop to 900 dollars once again. Whales will play once again with fresh news at bitcoin.

being optimistic sometimes leads to a disappointment, I know that you and many people including me of course are not wishing for a big dump and hoping that there will be no negative instances that will occur whether on that said date or to the next months but we are not the one who are able to keep the price stable on its current status so once the whales are going to dump a coin we can not do anything for it . every negative changes on its price is surely going to happen and no one can predict it accurately so what is good for now is to expect what is unexpected .

How do you know? no one can know if what will be happen in march 9 we are not fortune teller to know it.. but even know the price can be crash. sooner..
Well i safe sold my few bitcoins and i have the rest if the price continues to increase i sell it..
But for now better to monitor and make sure some signal from other groups.. outside.

Yes, I also think that the price will drop slightly. But it will be only a slight fluctuation, which quickly restored. itkoin shows itself in 2017 is very staunchly

I dont expect any response(dump) on March 9, it will be delayed until the outcome of March 11. IMO, a alot of people will think this way, no one will want to lose that profit if it will rise. If march 11 does's turn out well the dump will be massive and wont recover soon. Speculation around the dates is affecting altcoin dump

I'm not even familiar with ETF (actually had to look it up now) but I feel I should be more concerned about it than the "reopening" of the exchanges. How much of a dump are you expecting? I'm thinking about it just now, what if I start borrowing money from people I know, wait for this dump to happen and then buy as much bitcoin as I can?

Do you think it's possible to make a profit out of it? I know exchanges buy low and sell high but I'm thinking I might make a few bucks or so If the people I borrowed money from won't ask for interest anyway.  :P

if you prefer the short version of the answer to the question what will happen 9th March-a particular bitcoin ETF will be either approved or not approved (yet again)
if you want to learn more about what the hell a bitcoin ETF is read:

http://www.investopedia.com/terms/e/etf.asp - ETF definition
http://www.investopedia.com/articles/investing/073015/bitcoin-etfs-how-do-they-work.asp - bitcoin ETFs and how do they work
http://www.etf.com/sections/features-and-news/bitcoin-etfs-dummies - bitcoin ETF for dummies

if you want to understand why is Winklevoss' Bitcoin ETF so hyped and what will happen if it is approved (or not)read:

http://www.coindesk.com/winklevoss-bitcoin-etf-100-million/
https://www.bloomberg.com/view/articles/2016-11-01/five-reasons-the-winklevoss-bitcoin-etf-should-be-approved
http://seekingalpha.com/article/4045844-moment-truth-near-winklevoss-bitcoin-etf

You are without doubt not reading the posts you quote. I said the ETF will be denied because theres little chance for it to be approved. The Winklevoss said so themselves that they are not that optimistic with their chances. How will it create demand if its not approved?

The People's Bank of China are just beginning. Lets wait for more these coming months.

I believe that it is impossible to predict the behavior of bitcoin. This is not a stable currency and its price fluctuates constantly. I'm not chasing in order to capitalize on the bitcoin exchange rate. I'm just making and make a purchase.

If you like to know what amount of Bitcoins has remained frozen. Then it would be easier to understand if it will affect the overall rate of Bitcoin or not

You do know how many bitcoins have been hold of to the exchanges? I dont have any idea though and possibilities would only be on two results its either a rise of fall on bitcoins price when those bitcoins have been released regarding on withdrawals.

I think it will shake bitcoin stability, I think massive withdrawal will happened and there will be a lot of panic sell, and we will see another shaking when bitcoin ETF announcement, so need to pay extra attention to this March, maybe there will be a chance to earn some profit from this events

But generally when investors money already struck for some time and then get an opportunity to withdraw then most of the ordinary investors will first withdraw it because they may be worried that government again may bring some limitation to it. So we may see some price fluctuations but don't how much it will impact the BTC prices.

Indeed, for now there are many community are holding bitcoin sue to maybe perhaps they an idea by that month there is another new step up level for bitcoin value will be happen, as the price we had it now the projection of many are now beginning to happen.

There is a lot of storys about ETF,not so much chance to be approved n USA,but much more intereseting things is happening in Japan now,his financial giant Mizuho is examinating cryptocurrencys,finall we have last talks about Brexit,if financial insitutions will have to left London Citi,than we will have incredible chaos in financial world,it is even hard to imagine,if it will happen btc will be traded at 2000$ minimum

You are right, if the price will continue to rise at this rate, it will come true boldest forecasts. I hope that nothing bad will happen after March 9

that is just a guess on whether the price is going to be rising or it will start to go down, no one knows what will happen, I hope that bitcoin will at least be on a thousand dollars each

Not only Chinese traders, all over the world waiting for the ETF approval as it can affect bitcoin market even though only in USA but the impact to the price will be great for us. The main thing is,if Winklevoss ETF get disapprove by SEC : is it will make the market suddenly drop? Maybe yes, because recent increase seems triggered because of that, we may see the price decline around $900 again ($100-$300 decreases)

Im afraid the jury might be out for the ETF and this dump might go on taking BTC under 1000.00 $. Maybe theres a group of people who already knows what the decision will be. Theres always someone connected who knows whats going on secretly behind closed doors.

Bitcoin is too strong to get the correction on 11 march. I believe if the SEC is not approving the bitcoin etf in 11 march. they still need more time to make a decision. so we will see the approval in the next time.
I guess will be wise to sell our bitcoin in near of 11 march.

I don't think anything important is going to happen

Really, if we assume that traders hadn't been withdrawing their money from these exchanges through fiat during this time (since otherwise your question wouldn't need an answer), and they all rush to withdraw their bitcoins once it's allowed, what will it change? They just move their coins from their exchange accounts to their personal wallets, and that's pretty much all there's to it. You seem to assume that they will try to sell the coins at other non-Chinese exchanges, but, first, why would they want that (if they didn't sell them at their local exchanges in the first place), and, second, how are they going to withdraw fiat from foreign exchanges they move their coins to?

You don't need to ask us what will happen on march 9, 2017 because no one knows what will happen to that day. The only thing we should await and hoping  the result will be good  after that.

It will be good for all bitcoin's users, because in this wise, people more trust on bitcoin for buying or selling, and i believe majority of the people who feel hesitation to buying the bitcoin, so in this way, ETF take the decision to build the trust. 

Well if there's big dump that will happen then good thing there are forecasts like this already. I think i've heard about thus once or twice and it a good time to sell btcs a couple of days before that and replenish your stocks if a dump happens. Thus only gives us opportunities to earn more in the future

Yeah , You are right .
And now this is a condition that was happened with Bitcoin the last year for the brexit ( bretain + exit ) .
According to that time of condition for brexit , it was believed that if bretain got exited then price will go up and if not happened anything then price will go down .
So here the condition is somewhat same because according to the descion or result declare in favoure or again the exchange the demand of bitcoin will surely will be effected .
I would like if the judge will go in the favoure of the exchange , because this will increase the demand of bitcoin and that will resulted into the increase of the price .

I dont think so. Why would the SEC need more time? Its either yes or no on March 11, you can take it or leave it. In my mind the SEC already knows their decision as early as now. All their working on is find a good way why it was denied.

I am expecting a shake in the bitcoin price because for allowing withdrawal now possible and being the largest bitcoin exchange makes them have the volume to move things around here. In that case, there might be more supply than demand in the overall market thereby forcing the price down a little bit because bitcoin has also been experiencing some level of independence in its price over the last few weeks.

BTC ETF's approvals is going have a greater impact on bitcoin and crypto currencies market general either is approved or not approved. Speculators has created great anticipation on the ETF since end of last year. To me if ETF is positive bitcoin price will start to pump up from the 9th when Chinese big exchangers activate they withdrawal and vice vasal.

Well this may be good nees for us who doesnt have stocks of btc yet. This would give us a chance to buy bitcoin at a low price to hold in the long run. I don't think there's anything to be afraid of this as this will be our opportunity to buy bitcoins at a lower price. Think of the positive effects this can do first

in china exchanger not only can withdraw again
but result about china autorized, china regulation , about bitcoin, if result is good, can normal withdraw again bitcoin price can incraese high
and 11 march about result SEC and ETF about USA exchanger

Nothing important will happen that day, it will be business as usual, some will withdraw their bitcoin from the exchange, but that does not necessarily mean they are going to sell them, the big news will come two days after that.

it looks like bitcoin will experience a slight decline in prices but after a few days the price will rise again significantly that in view of his chart, so do not be carried away do not be in a hurry to sell bitcoin, see the time is right for selling ok

IF.... they allow withdrawals again i think you might find that alot of bitcoin move to paper or hardware wallets.  this could be a lesson to the chinese people that unless you own the private keys then the bitcoin arnt yours.

Hopefully it does end up as a wake-up for them, but something like this shouldn't just be a wake-up call for the Chinese, it should be something everyone takes a look at and thinks "that can happen here".

It's definitely going to be interesting to see what happens on March 9th, since it's just a few days from the ETF application decision. Might stay steady until the application result is chosen.

Good to know this news of when it's happening. ;)
There will be alot of movement that week from March 9-11th with two events happening so close to each other.
So we all know is the "what for?" when the price either rises or falls during those two days.

the price has been moving like crazy past 4 days
we saw it go up from 1000$ to almost to 1200$ and then drop to 1140$
don't even know if there is a bigger movement than that that is going to  happen 9th
there is an expression in chess: a threat is stronger than the execution,the build up we see now could be
the most volatile period and on 9-11th we would see just the confirmation of the already existing bullish trend
I highly doubt there would be a below 1000$ drop (unless some seriously bad news emerge,and non approval is not the one of them) this year at all
so hold tight and don't sell

Why do you think the approval or no approval of the ETF will have greater impact. I read your post and I dont see any reasons given except that you think it will happen 100%. How do you expect the readers to take your post? Please post the reason why.

I don’t think so, there is a very low probability of ETF getting approval, we know that and yet the price of bitcoin still soared to new highs in this week, not getting the ETF does not take anything away form bitcoin it just delays the inevitable so there is not a reason for the price to get that low.

Yes, we can not guess what will happen in these days. But we must be very careful and ready for anything. And do not panic if the price goes down

Agreed, if bitcoin after that date is going to have a good result, surely there's gonna be have a full unconfirmed transaction in the blockchain,
even me honestly speaking are also waiting on that day result. I wish there's a good result to be happen.