Bitcoin Forum

People are confident, Price is pretty much stable too, if you are thinking some big chinese whales will wake up and sell their shit load of coins in cheap today... you are damn fucking wrong.

If you have sold your coins some days ago, I feel sorry for you. Buy your coins back before everyone starts buying and price goes back to 820+ or 850+

Have a nice day.

Ps:
Spring Festival
(Jan. 31 - Feb. 6 off)

Official Public Holiday

Hype is over, there's only old money in the market and soon they will get tired of the stagnant market. There's no way BTC will hit ATH any time soon. The risk of PBOC shutting down Chinese Exchanges on the following business days is far greater than a new ATH.

But they said they were doing it today, not on the business days following Jan 31st  ;D

It's late in China.. so no office hours.

Either tomorrow during office hours, or next week during a business day when holiday period ended.

Anyhow, bitcoin in China is over and only fools are currently buying.

http://fiatleak.com/ (http://fiatleak.com/) You're the fool. Stop spreading lies. China is buying up btc like crazy right now.

I actually just came to speculation to post a fiatleak.com thread so people would look at how much china is buying!

LOL @ 'China is buying like crazy'. Get the F' out of here. It's just a consortium of whales who are buying with old money on the exchanges. You can clearly see that by the sudden spikes, rather than organic growth. Some sheeple will follow, but it's mostly whale work.

PBOC will crush bitcoin big time in the following days. Fools who buy now will be bag holders.

Thanks for the link. I'll check it out.

I watch this often. Biggest breakout ive personally seen on huobi in atleast a month. (just checked since jan 5th. highest buy volumes in china)

4432 client downloads this week. Since the gambling cooled down, these are buyers (hodlers). Only fools believe that this is bearish.
In the longer run, state terror is bullish for bitcoin.

I'm not against bitcoin, but the optimism I see here around China is just utterly laughable. China has the largest authoritarian government in the world and if you think it will allow bitcoin, you are delusional.

But it's the 31st in Beijing. Cyborg Chinese Communist Party enforcers don't need to sleep. They're kicking free enterprise ass 24/7

Who cares about China. A few months ago I didn't even know that Chinese people had bitcoin. This China effect is so overblown.

Yes, state terror. That's why people buy bitcoins there.

Stagnant market is good. Vola is bad.

The question is how long the markets will remain stagnant given current events. Developing markets are in turmoil. We could see a Cyprus II a few 100 miles north of Cyprus any minute. Any Turk with more than TRY100,000 on the bank should move the money to a safe place yesterday.

In the next 6-12 months you are going to be swallowed by a wave of bitcoin bullishness. You might have a while to keep believing in those bearish EW charts of yours, but it's coming, like a mother fucking train.

hahaha yeah well, the reality is happening and nothing is going to happen.

OP is right, I hope bears didn't loose to much shotring and still have some fiat to get back in game ;)

What Will Chinese New Year Mean for Bitcoin? (http://www.coindesk.com/chinese-new-year-mean-for-bitcoin/)

What I see on Fiatleak is that for several hours now the vast majority of the volume in Bitcoin trading is happening inside China.  Chinese people are selling to other Chinese people, in huge volumes.  The rest of the world, not so much is happening.

I don't doubt for a minute that the buyers and the sellers are people in different positions w/r/t the upcoming rules changes.  People who believe they can or can't defeat the new rules, or that the new rules do or don't forbid what they want to do with their coins. 

But I see hardly any volume moving coins into or out of China - this is looking like it's going to be a market non-event as far as actually moving prices.  If the Chinese action were driving prices up, we'd see money moving into China.  If it were driving prices down, we'd see money moving out of China.  But what's happening now is that money is moving around at a furious rate - but almost all of it *within* China. 

If the Chinese ban has any effect at all this will be prolonged over the coming weeks. As BTCChina and Hunobi have done everything they can to stay in business, the so called crash will only happen if there is a complete shutdown of both sites. The alternative is a cat and mouse game which can, depending on the direction of the market  and it's outcome have a real impact, in contrast to a crash.