Bitcoin Forum

PBOC cleared no banning of exchanges but only close monitoring. Does it mean we are going to see Chinese traders influencing bitcoin prices again. I really want to watch their exchange volumes to outnumber rest of world's.

https://www.cryptocoinsnews.com/bitcoin-exchanges-wont-be-prohibited-will-see-strict-supervision-pboc-official

Chinese prices were at a discount to world prices, after the PBOC imposed restrictory measures last month. Now I think the price will catch up to the world prices. Close monitoring by the PBOC could also be perceived negatively. I don't think we will have a break out in the price because of this.

Why? They're a bunch of dump happy pricks. Look what the market did when they were MIA. I assume fees are going to dampen their behaviour but they're degenerate gamblers who bring nothing to Bitcoin whatsoever.

Nope, at best we are going to see a small pump and nothing more, the price did well without the Chinese trying to influence the price with fake volume, so 2k by the end of march is too soon.

Nope, because the chinese exchange still can do the trade activities since the PBOC try to blocking the withdraw service from some exchange sites. But i think it will not giving anything for the price of bitcoin right now because they're on the PBOC's eyes.

this is nothing new! from the start, PBoC wanted to "regulate" these exchanges so that they work according to the law of their country. it is just like a Forex broker, these exchanges worked with fiat and needed to abide by fiat laws.
also Chinese real trade volume was never higher and will never be higher than the rest of the world but they will start having high volume soon when people come back from other exchanges to old Chinese ones.

That's really some good news but of course every good news has a bad news also. Do you think if on 20th march for example the price reaches 2000$ people won't actually sell it. If you see currently there is a steady growth in the price and if there is a huge bump there is of course going to be lots of selling and the price will again come down.

I agree with this. THere is no point really relying on the chinese market on the prices of bitcoins. They generally disrupt the flow or it and it's natural course. Mostly we hear that chinese bitcoin exchanges really just inflate and cheat their volumes to influence and control the market. Which is bad as people from around the world tends to watch chinese markets. This should change.

Ha ha... Whatever we do, we can't ignore the Chinese. Let us not forget that Chinese account for the largest mining power as well. If they truly dumped bitcoins (and were not just MIA), the market would take a beating.

Indeed, but I'll assume the serious miners never go anywhere near exchanges. They'll have very juicy OTC deals as they're the go to source for large amounts of coin. Big league buyers won't have many other options.

Isn't this news caused price of bitcoin to drop yesterday and today? Chinese traders are reacting allergically to every piece on information issued by PBoC.
It doesn't even matter that PBoC said they will only monitor situation and watch more closer if trading on Chinese exchanges is done by the book.

Thinking that we will see $2000 because China is decided to keep status quo for now is foolish IMO.

why are people in this board always so dramatic about bitcoin price.
when there is a small dip or a bad news of any kind they start putting up obituaries about price falling under $1000 and everything is finished, blah blah.
and when there is a small rise or a good news of any kind they start talking about moon and prices going up in a short time.

$2000 in March! no way. but there will be a big rise soon because of this trace back and because of all the money we all gained from the rise.

Did you check this news from bloomberg which mentions that major chinese exchanges are still continuing the suspension. Only this time it is indefinite!!

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals (https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals)

They're also going to be blacklisting addresses - presumably because they think money laundering is going on. What happens to the coins owned by the blacklisted addresses? Will they seize them and auction them? Or dump them on another exchange?

It is this kind of thing that might give the SEC pause when deciding whether to approve the ETF.

This is why it is important to introduce anonymity features to bitcoin, if those features are not put in place then the fungibility of bitcoin is going to be put to test since coins that have gone through the dark web or casinos will not be accepted any longer.

Nobody can control any bitcoin addresses that are held by other people so they may blacklist some bitcoin addresses but owner can easily escape it by using multiple bitcoin mixer to send coins out from those addresses to new one and PBOC will have hard time to track all of those new addresses and at some point they may just stop tracking it.  ;D

if bitcoin price get to $2000 the economic laws of diminished return will force the price down but not too deep. I terms close people bank of china monitoring bitcoin and others crypto currencies exchangers like bitcc, okcoin etc as a good news as they comment and decision always affect the market in negative way.

I wont be banking on the Chinese words for whatever because they are the ones that are saying something now, then later they say something else and moreso that statement is ambiguous because keeping close watch could mean they can wake up tomorrow and start another round of investigation anytime they deem fit to stir the market in whatever direction they deem fit.

If a blacklist was initiated then eventually all the addresses involved in mixing coins could be blacklisted and in that way you will be unable to use them in exchanges and websites like that.

2000$ price I think is too big to be reached now in march specially now that ETF has been expressedly denied by SEC. We might be in a rising movement again but bitcoin going to moon like that won't be easy. If there should be addrresses that will be blacklisted, I wish at least the bitcoin they got on those addresses will be sold and continue to be part of market's supply.

A government or a company dedicated to track bitcoin transactions are never going to give up trying to find new algorithms to try to link addresses so it is not as easy as you think.

This close monitoring of the bitcoin transaction is same as that it get used in the banking. Recently Chinese government announced their stand in digital currency. Whether it's bitcoin or other digital currency they'll support it keeping their own currency stable. Because they have faced several times the fall in value of yuan in correspondence to the bitcoin growth.

Do you really think Chinese Bitcoiners still want to use regulated Bitcoin exchanges? They already started to move away from these exchanges and are now trading informally on other platforms. The connections has already been made to trade informal with people they can trust.

This is what happens when governments wants to "clamp down" on people's freedom. They force people to use unregulated methods to trade freely. ^hmmmmmm^

Chinese traders moved out of the exchanges to other places only because these exchange platforms stopped their platform temporarily.

and even though they may never come back to the old exchanges to continue their trading there because they have already moved to other places but there is no other reason for not coming back!
it is like saying people won't trade Stocks because stock exchanges are regulated!!!

bitcoin is growing in the country of china. other than that china has a supporting resource. but now the government is still worried china visible against the use of bitcoin evolving beat domestic currency yuan.

Closing monitoring  :-[
What does that really mean? To turn a blind eye if they are doing what they were caught doing before?
For the sake on how they found how their currency the yuan suffered when they closed it up for withdrawals
They didn't know how influential bitcoin was on their own fiat currency was and they soon saw what the ripple effect was so they come up with this "No monitoring system" ::)
How quaint. :-\

That may not be necessarily true as there are more things that could influence the price at a later stage.The first thing i have to see is whether the volume will be back in those exchanges or whether people will be avoiding those exchanges as they did ban withdrawals without prior notification and i am sure people will think twice before trading in Chinese exchanges.

But the difference is that bitcoin is not a stock, those that trade stocks know that every single thing they do is being monitored already by the government, but those that trade in bitcoin may not like the idea of their government monitoring them and as such will move to other platforms where the governments cannot watch them.

Did you really think exchanges would be closed down?? I never believed that for a second! The 0.2% mandatory fee has clearly stopped a lot of manipulation because you can't just convert back and forth for free 10,000x a day with no worries.

i Think this now china trader still wait and see about result PBOC to china exhanger
so you can see bitcoin price in china exchanger still low and volume transaction is low too

Obviously Chinese traders and investors are going to be an influence but look at what happened without them bitcoin reached such high prices, so I hope this is the beginning of a lesser influence of the Chinese markets on the price of bitcoin for the next years.

Bitcoin never needs manipulators but definitely needs investors. I believe OP must be meaning more players for investment purposes alone. By considering the population and potential of Chinese markets, I am also wishing them to join the party so that we could have huge price level in a very quick time itself.

Did the Chinese exchanges allow bitcoin withdraws again? It was said, they are going to do it in march or so

Well, how much the Bitcoin market can change in 10 days... Talking about $2k week and a half ago, now we have to watch out, if we will test $1000 level.
I wouldn't expect further rise by the end of the month, further ahead that is a different story.

It was fun. Now we burn for it. bb bbb but mm moon  :-[

It is really difficult to predict the exact nature on how the market will react and what news will pop up with every negative news since the rejection by SEC was the time for the market to go down but it stood intact and after a couple of days it went down because of the talks about a hard fork and if that is the case a split may be inevitable like we see in ETH and that impacted the price,unless people come up with a better explanation that is the cause for the slide. :)

I really don't think that 2000$ in march right now wouldn't be possible maybe if it was for a few months from now or years it might be possible but in march itself? I wouldn't think it would rise that high especially now that the month of march is gonna end soon. The chance of this happening though is only a little so don't expect this speculation to come true.

Years seems a little rough considering the recent trends and historical trends Bitcoin has been in. Unless Bitcoin completely crashes it won't take years to hit 2000.

I don't know if $2,000 Bitcoins is possible at this rate. It seems that the momentum of the price movement is going either sideways or downward only because of people letting their coins go due to the ETF for Bitcoin not being approved. Also with many Altcoins getting more expensive to purchase, people might dump Bitcoin for them. The price of Bitcoin isn't so bad though.

We'll see how things play out and try to hope for the price to go up in our favor.

well, it wasn't that unexpected to see a solid correction, after such a bull run. We made a new ATH, and stayed in the overbought territory for quite long, and then any bad news is a good excuse to cool down the technical indicators. Let's see how we rebound and then look back to these really 'bad news', if they still seem so bad, or was it just the impression at that very precise point of time.

so where is your 2000$ price now?
we visited 950 today and the price haven't stabilised yet after the hardfork news
I highly doubt we shall see anywhere near 1500$ and there is a big chance the price goes all the way down to 900$
maybe even lower than that,people are dumping coins en masse,insecurity and uncertainty of the BU vs segwit
and all of the bitcoin listed as altcoin if BU successful talks don't help either :(

How fast things change on the bitcoin world just a few days ago we were above 1200 and keeping our hopes high and now there was a massive lose in value and we are trying to keep ourselves above the 1000.

2000 in March? No. December? Yes sir.

Old and no longer relevant news. Chinese exchanges are no longer important topic amidst current scaling problem debate.
We need to end bitcoin scaling war if we ever want to see $2000 per BTC. It's no use to think that people will stop talking about it and move on.

Cant somebody make that BU idiot just an offer he cant refuse? :D so we settle things with him and everyone is happy for the moon trip?

It seems that positive news was only dream and we received absolutely negative result - price dropped. Positive look is sometimes good but not always because that title and news caused wrong thoughts of some people and who where waiting for price rise and even smally, get falled price. If we look reality, it's better than silly hopes.

Come on.its mid of April and the max price of bitcoins have reached up to 1200$ and by the time it reach 2000$ it will take more than August and I hope it happens.

If you agree with the BU guys that the core will accept the big block size such as 6M or higher, they will not refuse.

Positive look is good, but you need to be a bit realistic. Bitcoin will still fall and he will not be able to stabilize and grow during this time.

We still might see that price range by March 2018 though and I never understand as to why many people care so much about fiat worth of Bitcoin? this is it people, you can easily manage hold & transfer value around the world sending money to family members, friends.
You get to transfer millions in less than 10 minutes or so with just paying $1 dollar fee.

OK lets put it this way, Chinese or the entire world it doesn't matter why?
Because now if there will be anything more than 3-5 transactions per second they'll just add up to the unconfirmed transactions pool.

Bitcoin shouldn't be the Lambo of crypto but it should be the freaking 747 airbus.

In March 2018, this price is quite possible, but not this year. Too many tests for bitcoin fell out.

Same as the above mate's quote $2000 is not gonna happen in a short. By the upcoming year's month of march this might be a possible one. This year already we've crossed march and now staggering around $2000. Based on the year end pumping of price we can confirm whether $2000 happens.

i think never news about china exchanger
i can see in huobi market and okcoin market, bitcoin price still under value another exchanger
is diference 180 dollar

$2000 will be seen in 2018, $2000 in 2017 is too much growth, we will need to see ups and downs along the way, next step is $1500 with $1300 correction or something like that.