Bitcoin Forum

Interesting stats:

http://www.investopedia.com/news/bitcoins-price-behaving-sticky/



BTC volume in China went from 90% to 4.5%.  I'm surprised that BTC price hasn't dropped more.

Yea even I am surprised to see the prices aren't going any down that is actually better for us. Seems the prices won't fall down anymore.good to see that bitcoin prices are gaining momentum once again. But let us see when would the prices again reach 4700-4800 dollars like it was before the whole China scenario happened. 1 Btc is something 3900$ when I checked a while ago.Hope it skyrockets again.

This is great news. No more china manipulation, bright future for btc

China now officially now has very little influence on the price. ha ha. Just goes to show you can not stop a decentralized currency. you can barley slow it down.

The exchanges are closing very soon so keeping them will only mean that you want them to take your bitcoins so It's very normal to see less volume. I could be wrong but just because the trading volume went down doesn't mean that it vanished. If bitcoin was profitable for them, they wouldn't just leave and If you see the charts here: https://coin.dance/volume/localbitcoins/CNY you will how P2P trading using Localbitcoins skyrocketed in China, and it will definitely continue to.

They're basically switching from one platform to another... That'll be their lifesaver 'till the government ban that webpage.

BTC volume in euro is at 4.85%?

I guess most Europeans must be trading BTC in USD?

Wonder if there's any advantage in doing so...

They used to have control of the trading volumes before Japan come into the picture. And now it doesn't surprised me at all seeing the percentage dwindle to less than 5% because of their war against it. There are still speculation of whether the mining hardware or the mining business will be affected, eventhough Charlie Lee tweeted it is not, we really don't know. Maybe one they the government will change its mind and include mining gears and mining farm to the ban list. However, Japan will take over this business as well as GMO of Japan had already allocated millions to create their mining hardware as well. And as far as Russia is concern, you have take everything from them with a gran of salt.

This means that finally bitcoin is free from fluctuations made by any single economy. This is better for the future of this crypto. But I think as soon as china begins with any licensing the bitcoin is going to skyrocket once again.

Now, I must say that bitcoin's price behavior is not actually based on China's crack down, yet it really is because of the panic sellers thinking that it will really fall down because of China's shutting down or banning bitcoin and ICOs. From that statistics, surely China is influential no more.

I also thought that, after the China news, bitcion would drop lower than 3000$ and maintain around that number.
At one moment prices were around the 3000$ but quickly recovered to 3500$ and now around 3900$.

I am curious to see if the effective shutdown of the chinese exchanges will have an impact on the bitcoin price.

China was manipulating the price with their fake volume and huge number of trading bots. Now the price has become more stable since they are backing up from trading. I like it :)
The price hasn't dropped because people aren't dumping. They see future in Bitcoin and want to hold. The Chinese also didn't sell. If they all sold the price would be much lower.
If among all the fuss they see no reason to sell we shouldn't too.

This means there is actually only a few Chinese people who are involved in Bitcoin.  They just manipulate the trading volume to make it look high.  Or probably some of these Chinese traders had moved to out of the country exchange to trade.  Besides moving out of the country's site is just a click away. 

See now, china has lost control over bitcoin price, or it's just the Chinese bitcoin users moving out of their country and migrating their money to other countries.
it seems that the regulation of china government has no more affection to the crypto world. so if the popular exchanges there will be closing down, it's not a thing.

thanks for this announcement but this wonderfull news i believe bitcoin are not straight falling down even china want to destroy bitcoin for ICO and exchange banned, this the reason bitcoin stay strong because have many country support the crypto currency hopefully i expect next week bitcoin are go rising again the price value.

How it is possible that China Bitcoin traders go down from 90% to 4.5% and prices continue stable. That doesn't make any sense. They are not trading, but someday they will need to trade. Maybe p2p between big whales is happening without changing the prices so everybody stays happy.

Someone will become really rich with all that mess. Buying Bitcoin bellow the market price and maybe some companies and equipment.

Yeah after the announcement there are huge drops,I believe there were a lot of investor were dumping the coins and surprisingly the price drop down and bounce back pretty fast,luckily there were a lot of supports so the price can go up again, but the strory hasn't end, we will see waht is going yo happened in this end of September

Traders are just watching the price without knowing what to with it. Most are balancing between to wait to see if the price will decrease again or to think "I should buy but but but....I don't know, why not wait..."
Everyone is watching other to see what they do, but nobody does something, so they keep watching each other...

None that I know of.

I guess it's mostly a mix of a) BTC/USD being the most widely available crypto/fiat trading pair and b) people whose native currencies isn't traded as much falling back to USD rather than to EUR.

Or maybe Americans are more likely to day-trade :)

Well people of China are thinking and making way how they can use their bitcoin after China regulate the usage. Too sorry for them.
But I'm thinking that maybe if China will not success in their plan or they lose some of their fortune they'll remove the banned in ico and get back again to business.

This is actually a good number, considering the price drop, it means a lot of people still beieves in bitcoin and other crypto coins. I think the numbers will change after the fork in november, a lot will be investing in bitcoin, once they've found out that the price is again going up, i think the trend is also similar with the stock market, the price of bitcoin then will be hyped, but not to the extent that the alue will just sky rocket overnight, considering the numbers that we have now, china still plays a big part in the price of bitcoin, but now that china is gone, i think most of us understand now, what to do, thought there is still a small percentage of chinese using bitcoins, we should not be worry, since according to some articles, there will be an election on china this coming october, and they might have a statement regarding bitcoin, since a lot of chinese are using it, the price might sky rocket again, but as long as china is not around, there are still countries legalizing the use of bitcoin, which means a higher bitcoin users and in time, a higher percentage of gains for all of us, i think we should just keep clam and wait for the last months of this year.

I think even China has an issue on cryptoworld bitcoin will still be recover soon the value. So we should wait for the upcoming rising of bitcoin value this year. I can feel that btc price will soaring high even there are many too issues that other seller got panic.

I do believed that the Chinese bitcoin enthusiast would not stop using bitcoin by instead find a ways to do trading because most of them relied on bitcoin as means of living. So banning ICO and closing exchanges are wrong because the one that will suffer is the Chinese people. They probably move their bitcoin in other exchanges.

But if China block access to outside exchanges, then they can't do anything about it. They need to succumb to the government's rule, otherwise a strict penalty would be impose and you don't want to go to jail. The other choice is to go out of the country and went to a bitcoin friendly nation where you can have the freedom to trade.

Yes. The price of BTC in the past few days is just estimating 3.9k USD. I believe BTC will bounced back more to its price surge last month. Even with the china crackdown, FUD, JP morgan negative issues with Bitcoin, still BTC is standing up to its value. There are still a lot BTC investors all over the world who are sticking to BTC.

Well, that's only proves that China don't really have the power over bitcoins anymore. There is someone will step up and im not surprised if Japan will be one of them. Im happy about that because after several China's actions against Bitcoin(not just bitcoin but all cryptocurrencies). They still survived the crackdown. China's influence over bitcoin is not powerful anymore. But im not sure about that maybe traders from China just migrated to other exchanges to trade cryptocurrencies(which is the best thing to do) since there's no other way for them to trade. Anyway, I've seen a lot of good news. Korea will open their largest cryptocurrency exchange which supports over 100+ coins. I'll be waiting for that

One of the reason I why it didn't fall hard is because bitcoin community learned already from their mistakes on the past. Another thing is there is always somebody who will catch your dump because it has more demand than before.

you did not read the sentence properly!
"was" is past tense and in addition you can see the "a year ago in the end" and also you and the article have forgotten that Chinese exchanges used to have 0% trading fee, margin trading and also lots of fake volume report. all of which was eliminated last year and they came down to normal logical levels.

Many Chinese Bitcoin users may have looked elsewhere...that is why Bitcoin is Decentralized.
Government ban will have little effect considering that most early adopters are tech savvy. When the dust settles, even if the ban remains, price will likely move back to normal.

Bitcoin trading volume overall hasn't gone down much at all. It's just that China is no longer a big market, but at the same time Korea and Japan has turned into sizeable bitcoin economies, and thereby offsetting the difference.

The price is not behaving sticky imo.

It deserves to be where it is right now. It's not like it is a super high price still, it's around $1000 less than the ATH.

If you will see that the price of bitcoin is behaving then there is two possible thing to happen, it is either going up or going down and it will be a crazy scenario for bitcoin because based on my past observations in bitcoin. When the price of bitcoin is behaving then after a few months, i saw that the price just go up crazy and sometimes it shows a huge dip in the market.

numbers can be very deceiving when you just look at them and nothing else.
in this case when you take the numbers from coinmarketcap.com they are mostly deceiving because first of all they report a lot of volume in place of only bitcoin/fiat volume. and that makes it bigger including even some altcoins volume.
secondly it is the fact that volume can simply be manipulated. the site can tell you they have 10 million dollar daily volume instead of 1 and nobody would be the wiser.
finally you should always see why the volume is higher. usually the reason is pretty simple: 0 trading fee :)

This is to tell us that the down ward trend is over and what ever come from China any moment from now will not affect price much. If Btc trading in China dropped significantly like this and bitcoin is still try to break $4000 then bitcoin has become a global currency!

Yes bitcoin deserves the price now as we know that there are many investors now that are continue to come in the market that helps bitcoin become strong and supported by many people even there is a bad news occur their are not much affected because of this supporters and strong holders.

Hopefully this indications would last longer and more big countries will support crypto currencies as another medium of payment. Bitcoin soars worldwide and it could stand still in hard attacks from it's foundation. Bitcoin community have proven to be stronger, from a deep down and now it rise again and face another challenge.

I assume that the Chinese are on a solid HODL at the moment (probably because there is no easy way to cash in/out).  ;D
For a man who has been earning a lot from bitcoin, it is definitely hard to just let go, move on, and go back to fiat... I assume that most of the Chinese are looking for an alternate way in cashing out. VPNs + BTC-Yen-Yuan would do the trick if you know what I mean.

I'd agree. Trading in USD is much more widespread across exchanges than EUR so potentially easier to use USD. Then when you take into account countries that use neither currency natively, USD just seems more logical.

big countries supporting bitcoin is good. we have already seen the nice effects that can have on the price with Japan adopting bitcoin on a massive scale. but it is not all and it certainly is not the reason for the price rise.

it helps but in the end it will be the people who are adopting bitcoin and keep it decentralized no matter what their country says. if the government approves of bitcoin things will go easier and faster if not it will happen but slower and a little harder.

I think there is a political scenario when china say banned ICO, then the price dropped drastically, but then japan and the price holders Bitcoin mengamakan its until now the price is slightly strengthened ..

i am thinking the same like you because we know that ICO giving much revenue for the dev but the government can not involve with the project so they prevent this by banned every ico in china. and we can see that after china gone, korea and japan will be the next big market in asia because they open their mind about bitcoin and now they are ready to be the leader in asia.

Price won't drop because of the fact that International investors didn't give a damn to China's decision over withdrawing their participation from everything related to Bitcoins. It is stuck at a level which used to be a mid-level or Resistance 1 but has now changed to Pivot point itself. 4000 has now been the main point which needs not to be broken down as the gradual price hike will help it to relieve itself from all the previous dumps and the cycle of pumps and dumps may end (in my serious belief) once it reaches a value from which selling it would become hard.

Yeah even i was surprise to see that Big nation like china has no Manipulation control on Bitcoin for now after the Ban. It is a great sign for us and i think everyone who is trading should make a note of it for future purposes Because china's ban didn't create any impact on bitcoin prices. You should be alert and you should be prepared for situations like this, so that you can make a huge benefit from this situations. But i hope china will plan to use bitcoin after strong rules and regulations are formed. But in anyways if they started bitcoin again then it can really boost the bitcoin price with new record highs soon. Now you just need to focus on bitcoin and try to invest some part of your capital as there is high volume of trading expected from all the countries.

Guess that makes sense...

I think these are great news for the community. I still think the trading value should be more dispersed, so that way it will be harder for a single country to disrupt it's price like it happened with the China ban on ICOs and the suspension of exchanges. It's still a bit condensed on the Japan side, but at least they already have regulation, so they are not in the "grey area", which should be able to attract more investors.

And final, not is Korea or Japan, that is HongKong haha. Almost exchange banned by the Chinese government has been transfered to new server and complete procedure change to HongKong. I am sure China has gives up its chance to HongKong :P

This whole situation is disturbing. I'm afraid of locking ISO. There will be less altcoins. You will get paid to earn BTC. Everything will be known after September 30.