Bitcoin Forum

Price falling below 200 within the hour.
China is dumping massive amounts.

So, another big dump & panic sells will happen soon ?
Looks like there will be a little dump ::)

https://bitcoinwisdom.com/markets/okcoin/btccny (https://bitcoinwisdom.com/markets/okcoin/btccny)

well, at least it's good volume ...

i guess the dump was really lame as the price already recovered. or was it just the first wave of huge dump?

Price on finex not even dipped below 220. /delete thread.

China upcoming Lunar New Year. They will dump.

Will pump up after the event


Just stable on $ 225  :(

I cant see it, are you sure?

Any evidence?

I thought that you as Legendary member would know better....?

Nothing special happened, not sure what you're talking about.

This is pathetic, Bitcoin drops with a whopping $8 and the troll(s) are comming from there cave screaming fire!

The problems we face when children can buy bitcoin. :) Just see it as fresh meat.

Weak minds, weak hands :^)

BTC is above $220 and the hourly chart looks like a great time to Buy!

why dumping now, they could have dump before when the price was better, seems stupid

'chines panic' flash dumps .

You are saying there will be a dump.

But the thread next to this one say there will be a pump. Hhmmm wtf

China hasn't been buying for a year, those who wants to dump have done so and they have no more coins to dump.

Im sure there are tons of chinese that were holding and even owned mining equipement that will eventually dump. China is huge.

trend reversal long overdue

Thanks China ! We can buy some cheap bitcoin, is it a positive thing or not ?

To more overdue it is, the more explosive it will be.

December 2013 will be nothing compared to the next rally, whenever it will come.

We may even see a double rally again. Something along the lines of a rally to $3000, a crash to $800 immediately followed by another rally to $12000 and a crash to $4000

Not saying it will happen, but I would not count out the possibility. It has done so before it could do so again.

Isn't it common knowledge that the exchanges, especially the non-USA ones, trade fake coins and fake volume to manipulate the price?

I have no proof, just heard one too many trusted member say as much. Plus it would not surprise me. Wherever money can be made through shady means, there are ample shady players willing to jump in.

Everyone hates regulation, but I hate bullshit manipulators worse.

the more people, the more power, it's just like as I said no financial derivatives, no trading volume  (https://bitcointalk.org/index.php?topic=945620.0), and the result is your said.

I think the real test has not happened yet (maybe never will) If exchange rate stayed below $100 for extended amount of time, profit-seeking mining farms will be squeezed out one by one, daily generated coins will flow back to bitcoin enthusiasts who are willing to pay more than electricity to get the coin (mining for fun)

Dream on. There are still people willing to pay over $200 and there will be even more of them just waiting to buy at $150 and so on. Sub $100 is not happening unless Bitcoin fails or becomes suppressed by the governments.

Under $ 100 dollar , hmm maybe it will never happen ( but none of us have the certainty, it is only a question of speculation).

No matter which country dumps , it is always a buying opportunity .  Btw what's the source of info ?

We just had a small taste of China.
Prepare for more soon.

I call bullshit. There will be no massive dump from China.

Just wait and see, I will be.

I love the excellent grammar  :)

It's unclear where they got their info.  Here's an interesting look at the state of affairs: http://bitcoinity.org/markets/btcchina/CNY

There is no source. It's just the bears' typical bullshit.

FUD alert!

Well even today's dump wasn't that massive and we're still above $200. I've got to admit that we could go below $200 any day now, yeah. But we could also make a surprise-breakout. I think I don't have the nerves to short the current market. Do you guys, really?

Shorting is dumb. That's a quick way to lose money. Buying and holding long term is the best strategy, unless you know how to day trade. You'll get burned if you try to time the market.

why do people hate manipulators? This is the free market.

Hate is a strong word! I'd say I was more amused than anything :)

This has been my assumption for awhile.  While it was not confirmed, there was a blog post about it. (http://bitcoinpricelive.com/chinese-bitcoins-crash-market/)  Of course, there are blog posts that aliens have a base on the moon.  But this theory does seem consistent with the relentless selling pressure.

Good Luck!

These questions have also kept me awake an hour or so after my bed time, there does seem to be stupid amount of dumps coming from china, now the question i ask is

- A, Large amount of mining in china and they don't like to hold.

- B, As you have noticed it's the exchanges manipulating the price to accumulate stupid amounts of coin.

- C, Whales just like playing around and are the ones manipulating the price for obvious reasons.

I edge towards A and C because how long would it take for the exchanges to accumulate the desired amount of coin?

On the bright side if it is the exchanges or whales when they have what they want the price will more than likely rocket, so for me it's just the case of holding tight and not panic to whatever happens!

I would rather 0 than give up and see it rocket with sh*t heads taking my profit.

 
     

But will buy them back after the Lunar new year, too.

The world isn't driven by China, you know.

I think the amounts being traded dwarf the amounts being mined, but it would be good to see some analysis.  I'm not sure about C, where did the whales come from if the miners are dumping, your A.

I keep coming back to B, are many of the exchanges still not charging fees?  If so, how are they paying their expenses.  My second question though is if it is B, what happens to the price if there is a run on the exchanges and they can't give everyone their coins.  Does the price go up as the exchange tries to meet demand or does it go down as people lose a little more confidence in bitcoin?

That's right. Bitcoin existed before the chinese exchanges and will after they are gone.