Bitcoin Forum

I know what will happen to the banks in china.  But what will it all end up meaning?  What is the bottom line?  Will the price go up or down?

The last China armageddon was the 31st of January. The usual suspects on here screamed and screamed and screamed about the death of everything even more so than usual. I'm sure they'll be spurting all over this thread soon.

On the day itself absolutely nothing of note occurred. The falls were already priced in. Maybe it'll be the same this time. Maybe not. China will not let you know in advance.

Don't listen to predictions, it's just people making guesses. No one knows the future.
Why don't you guess? Your guessing is just as valid as anyone.  :)

Why should anything special happen to the price of BTC on April 15?

My $.02.

;)

I couldn't agree more. We already seen the price drop from the news. The day of nothing should change because of it.

Nothing, unless Huobi or BTCChina halt fiat deposits. The PBOC will likely not make a public statement, as their strategy seems to be to slowly kill off bitcoin in China without causing more speculative interest.  

BTC price is so low that bad news will not have much effect.
Next big move will be UP.

Well, I think most people here imagine that the ban only affects 3rd party payment processors (deadline for this ban is April 15th, which makes sense).

However, another major exchange (FXBTC, 10x more volume than BTC38) did receive a phone call from their banks to cancel their accounts. No other exchanges received any notice from banks, only 3rd party payments processors.

More recently, Bobby Lee told Coindesk that bank transfers will also be halted. Now, for most people, this is FUD, which is why we still didn't witness a big dump on the market. Here's what he said:


On April 4, a government paid shill made an interview saying that bank transfers will be halted. More evidence is emerging about bank cancelling their accounts with major exchanges. However, NONE OF THIS HAS BEEN ANNOUNCED, YET.

If it does happen, I expect a gigantic crash. For now, most people think it's FUD, I think it's very real. The government has good reasons to regulate Bitcoin.

OKCoin also announced that they're ready to move offshore. In any case, we need to wait for them to reveal their plans, nothing will happen otherwise

Most of the dumping until now (in the last two weeks) has been based on speculation about the ban. Nothing has happened yet.

The Chinese sold their coins already if BTC is really banned. Nobody is so stupid to wait until April 15th to sell his coins. Why would I wait until April 15th if I can sell them now for $450??

Nothing will happen.

April 15 is the US tax filing deadline for most people and has nothing to do with China.

FUD.

My $.02.

;)

They will sell only if Huobi/BTCChina announce that they halt bank transfers/fiat deposit/withdrawal.

Even the Chinese don't know what is going on. They won't wait until April 15th if the news are out before the deadline. But they will wait until the exchanges tell them to withdraw.

I what exactly will happen to the price of bitcoin on April 20th?
Easter Sunday:
Will the holiday be good or bad for BTC?    :P

You are all forgetting about the blood moon. For millennia, blood moons have made investors and traders go mad!

Citation?

;)

My $.02.

;)

It is written in the ancient scrolls of the crypto-church that on blood moons ordinary otherwise respectable money people turn into weresharks. Your local library might have a copy.

On April 15th fucking nothing will happen.

Nothing......

Well, now, I know about Landsharks but what are these weresharks fo which you speak?

My $.02.

;)

From what I saw it was false info. Especially after BTC China issued public letter regarding it.

I'd love to believe this. But Gox taught us that there's no accounting for greed. People were sending fiat to Gox right up to the last minute, even though it was clear to most people that something was very, very wrong and its time was limited. I don't see why the same shouldn't be true of the Chinese exchanges that are still running.

Who even cares about China anymore? I forgot about them the very first time they banned Bitcoin last year.

Idiots just want any excuse to sell.

Bitcoinsrus be prepared that we go below 200$ or even 100$ if China leaves the Bitcoin market.

in my estimation after april 15th third party payment processors are punished for dealing with bitcoin exchanges in china. the only way for withdrawals and funding is via bank transfer then.

No, this time also bank transfers get banned, that´s the reason why BTC will crash so hard.

The real question is how much is already priced in. That's the Gox scenario of traders continuing to trade up to the wire.
We'll know after the 15th, unless the PBoC just lets it slide for a few exchanges, which also seems possible...

+1
I can't believe that anyone with real money is going to wait until a deadline. They did not get that money in the first place by sitting around waiting for things to happen. Some people make things happen rather than letting things happen to them.

The price is gonna stay exactly the same on April 15th.. maybe +/- $30... which is nothing. Price is always factored in before any deadlines

This should be the case. I'm not convinced, though. Gox says otherwise.

Fuck u fonzie.. wanna take a 1btc bet? Stop your fking fud..2btc i can afford too no problems

Maybe if the BTC price does crash and stay low for a while people will perhaps treat it as a currency again and start spending their coins...?

Who am I kidding? They won't do that, they'll just keep hoarding them. Is it any wonder that regulators around the world [correctly] perceive and classify Bitcoin as a commodity and not a currency?

As for April 15th, does it matter? Bitcoin as a currency is dying - obsolescence through inertia.

 :-\