Bitcoin Forum

http://i.4cdn.org/pol/1451884696733.png

https://twitter.com/business/status/683888234649239552?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet


what does it mean ?

So the first two charts are interesting--those are overnight tonight, correct?  I will very much like to see what happens in the US markets when they open today.  We're definitely due for a correction or even a crash--I've been expecting that for some time now.  I'm not sure about the other two charts you posted which are of much longer term.  I don't know what's meant by them.  I'm not a believer in TA.

But why would it happen directly into the new year? Everybody wants to maximize their profits for the year?

More profit also means more taxes to be paid right away, would've been more sensible to start dropping some before the new year.

i think this is normally in january you can look at january 2014, 2015 ,
i hope bitcoin more stronge and comeback to reach $500

Ah good speculations, I'm curious as well

They all look like dead cat bounce from a 1-5 year chart

“There are a growing number of people who feel that bitcoin is a safe haven of sorts, analogous to the role that gold played historically. If this is true, economic turmoil in China could cause speculators and perhaps some businesses to buy more bitcoin in a 'flight to safety.' Bitcoin has some properties that make it attractive during times of economic uncertainty, and uncertainty in Chinese stock markets, foreign exchange rates, and the overall economy could create more demand for bitcoin and buoy prices”, Greg Wolfson of BTCC told Bitcoin Magazine at the time.

source :  Bitcoin Unaffected By China’s Stock Market Woes (http://www.econotimes.com/Bitcoin-Unaffected-By-Chinas-Stock-Market-Woes-137556)


bitcoin is more strong  ::)

It's quite normal for stocks to drop in the openings of the year - but the drop in China is quite spectacular. This could lead to a bigger interests in Bitcoins, which would lead to a higher value of the coin.
Note: This is only speculation presented by me, don't take my words for granted.

IMHO, the worst part is why this has happened. Random (heavy) drops like this have only one meaning: "Insiders liquidating because of hidden info". I wouldn't just jump in and say what I think about BTC price; usually, it takes a couple of days for the people to look around after the turmoil. Maybe Martin Armstrong (http://www.armstrongeconomics.com/archives/date/2016/01) got it right all the way and it was just about to happen. Who knows.

Remember the Chinese New year is February 8th, so could be plenty of action still to come  ;D

Most likely minor players wives & children have made them skint over Xmas/New Year so they've sold.

Stocks & shares worldwide will pick up over the next week or two when the business world returns to normal.

China currently has a walnut bubble selling $32,000 "symmetrical walnuts" and $500,000 "racing pigeons".  Contrary to what noobs on the forum say, China hasn't even come close to initiating a Bitcoin bubble compared to all their other insane bubbles.  If China actually does get involved in Bitcoin, it's going very high because they will literally pump pocket lint.

I concur. Most of the fuss may be coming from foreign players partly because of 0-fee transactions. Nevertheless, there's a strong indication that BTC is forming a vessel of transferring CNY wealth to other places in the Globe after the money-transmitter raid in China a couple of weeks ago...

The Chinese government has their own ways of ensuring a bitcoin bubble doesn't take root. They can change regulations and can even intervene directly if required.

Martin Armstrong is correct in fact, but there is a 3 month lag with all those prop ups they put in place

Quoting from Martin Armstrong (http://www.armstrongeconomics.com/archives/date/2016/01) about the proposed fee China is considering making compulsory for cancelling orders. Is this only proposed for the stock markets, or is China proposing to make cancellation fees compulsory for bitcoin exchanges? The OKcoin bots would need completely rewriting to cope with paying fees.

I have no clue.  If you listen to any business news program, they always are trying to tell you why the markets are moving the way they're moving and usually what they're saying is nonsense.  There's noise in the markets, randomness, and it defies explanation.  Today we dropped, but who knows why it happened.  It was interesting though--wish I had more money to buy some stocks.

If they want to target high frequency traders, they can impose stamp duty. Buyer or seller has to pay for each trade.

Update
http://i.4cdn.org/pol/1452114318903.png

http://www.zerohedge.com/news/2016-01-06/china-devalues-yuan-most-august-collapse-offshore-yuan-crashes-5-handles

Yes bitcoin don't follow the pattern this year and other stocks seems to have new year effect. Within 2-3 weeks they will be back to normal.
Hoping good year for bitcoin.

Always happen when is there a New year I think let give it a couple of weeks that we will see a normal stock.
After all in 2014 and 2015 was the same. So yeah we will see.

Doesn't seem like it's going too great within the stock markets.

Good for bitcoin though, it keeps on going up. Seems like this keeps happening with the stock markets though.

I'm sure they will recover from it quickly.

At least we can say that Bitcoin is having a good start in 2016! ;D
That's encouraging for the coming months.

Watch interview with ex  Chief of Dallas Fed,he is talkiing how Fed has pumped stocks with printed dollars
Now he see 20%  down on US stocks,stocks  are growing only if thay are receiving more printed money
higher stocks are more printed dollars thay need

https://www.youtube.com/watch?v=7nuzT3rchPU (https://www.youtube.com/watch?v=7nuzT3rchPU)

bitcoin is definitely having a great start. all other things as stocks and oil are going down heavily while we as bitcoin community can't stop smiling while seeing the price go up. i am sure it will draw the attention of the media very soon.

This time, the financial crisis could be bigger than the one in 2008. There are more money printed and much bigger bubble to burst.

Actually, we haven't ever recovered from the last crisis. Most of the US job data was painted plus there was a lot of money printing. That worked very well until it stopped.
Watch out now. The last one turns off the lights.

Most of the new jobs are insecure low paid and part time job. That is the impression I have from the media.