Bitcoin Forum

Cheers, sorry if in wrong section.

What question is this?
Supply and demand.

Yeah sorry mate, my last trade was at $530, just wondering why it dropped $40-50?

Nothing much, no bad news or anything.
Supply and Demand.

Good man  ;)

http://www.reddit.com/r/Bitcoin/comments/2399ah/huobi_and_okcoin_get_bank_accounts_cancelled/

I counterattack you with this: http://www.reuters.com/article/2014/04/16/us-china-bitcoin-idUSBREA3F0MK20140416 (http://www.reuters.com/article/2014/04/16/us-china-bitcoin-idUSBREA3F0MK20140416) (China gets first bitcoin ATM, skirting bank crackdown)

Gush I was hoping for a $700 till the weekend ..
I know it is still possible ... but todays drop is telling me that it can be hard to get.

It's good to see the markets barely reacting to this China bank news today.

PBOC you won't get any more <$400 coins  ;D

Cheers for the links guys!

Account closures probably affected some Huobi, OKCoin clients that haven't adjusted to the new deposit options/workarounds.

Still no official statement from PBOC thus far! So this thread has been moved to the right Section on bitcointalk forum.  ;)

Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.

I think it was just a strategic pump and dump by ppl looking to make some $ from BTC , no FUD or news related.

The positive I am looking at it is even if it drops down to 450 we are still well above the levels before the "coveted april 15th" date.

Yeah Stamp already above 500 as we speak :)

HueHue :) indeed no more cheap coins for China :D

PBoC is greedy I see :D

Very glad to see the market is becoming more mature, we might actually be over the Chinese fiascos this time :)

well the $500 price already includes all of the chinese news, so that's why. if PBOC speaks tomorrow that they love bitcoin the price would return to the pre-hysteria levels of ~800.

http://i664.photobucket.com/albums/vv10/JimboToronto/the-sky-is-falling.jpg (http://s664.photobucket.com/user/JimboToronto/media/the-sky-is-falling.jpg.html)

+1

With a long bank holiday weekend in the west so no new fiat coupled with Chinas on going debacle price drops could be the theme for this weekend.

Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.

There's rarely a clear and direct reason

Good point, cheers! Wonder how btc-e's yuan trading volume is doing?

Very wise brother  8) Can see you consider all the angles

But how does that tie into their capital controls ? Im not well versed on transferring money out of the country in China but I was under the immpression that it wasn't very simple to transfer money in and out?

Withdrawals are unaffected for now it seems, it's deposits that are the problem.


Capital controls, I think It's something like 50k/USD equivalent a year.

So the opposite of the Gox effect ;) Should see prices slumping then lol

Price looks like it want to go up but it can't ... for now according to unknown for me reasons :)

Is it because more China exchanges shutdown?
https://bitcointalk.org/index.php?topic=574372.0