Bitcoin Forum

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

A lot of people seem to expect that bitcoin gold will cause the price of BTC to fall, simply because people are holding BTC to get free BTC gold. Once they've got it they'll move their money away from bitcoin.

or they'll sell the btg and buy btc, meaning price will go up.

looks like other exchanges are now following

price action of btc and btg is just stupid. hopefully things are a bit calmer on other exchanges when the split actually happens

I see price on poloniex and bittrex is 5700-5800$ and on yobit 5200$, i am not sure why there is such huge difference between yobit and other exchanges.
Who is expecting that? There will be correction but i don't think bitcoin price will fall because of bitcoin gold. It will be another altcoin in my opinion.

I suspect the price difference is due to opening trading on the yet to be bitcoin gold. As well, as a freeze on withdrawls and deposits on yobit.

Currently btc = 5550. btg = 0.12btc

Did they credit members on yobit, or are they just trading futures at the moment? I know there were a few sites that were crediting early.

No, I'm sure the price change isn't caused by yobit adding BTG market. It's just normal daily fluctuation I think.


They credit the member when they open the BTG/BTC market. It's technically a futures because the actual BTG isn't launched yet. They disabled Bitcoin deposit and withdrawal three hours prior to the market opening and I think it'll keep disabled until the BTG snapshot is done.

Most likely this the scenario that we are seeing right now. Yobit announcement earlier giving free bitcoin gold push the price to ATH, and it looks like they are selling bitcoin gold now and taking it somewhere else, either cashing it out or going back to altcoin market. But I don't think that they are going to altcoin becaus they are still bleeding. I suspected that most of them are just holding bitcoin gold now and not yet dumping it. I'll expecting that bitcoin will recover again tomorrow at $6000 or above once more.

The bitcoin price drop has nothing to do with bitcoingold. It's just people profit taking (and is happening on all the exchanges) 

What is trading in yobit right now is not the real bitcoin gold and price of bitcoin was dumped there because all bitcoin holders are getting free bitcoin gold there which they can sell there and withdraw USD into perfectmoney account and than buy back bitcoin with those PM dollar. People are just selling their bitcoin there so price was dumped hard but in other trading platform bitcoin is trading way over the price of yobit.

Why are you taking it seriously even the hardfork still didn't happen by the way. The yobit exchange site gives an answer about the temporary hype to the bitcoin hardfork itself. Many people are predicting it right now. See in some days later the price of bitcoin gets dumped and the demand will move toward the bitcoin cash and i believe the history of the bitcoin cash will be repeating again in the future,
But after the hype gone and bitcoin cash just nothing with its difficulty adjustment to give the profit to the miners for securing the bitcoincash network.

i think all know bitcoin price will drop after fork 25 october . volume trade bitcoin in yobit today 233 btc small little .. and the drop of price will  Moves to other site exchange for sure

The fact is people don't want bankster bitcoin core.
They want a coin by the people for the people. Which is what btg is.
We will see massie capital flow from bitcoincore into btg.
I suspect it will be valued around $2500 within a few days. And bitcoin core will lose that value, at least.

I dont agree with you. Bitcoin core will always the best priced coin cause its just "bitcoin" not bitcoin cas-gold-silver-etc etc.
And people will dump btg as soon as possible

Obviously it's a derivative thing, as BTG hasn't been "launched" yet, so people are straight up gambling right now with something that doesn't exist.  Yobit has done this before, and it's sketchy as hell, and I'm wondering if it's even legal.  No US exchange would probably get away with just creating a derivative security/currency out of thin air,  but this is Yobit.  Ny prediction is that they'll eventually get shut down by regulators.  I don't even know what country they're based out of.

You realize Bitcoin core is not the Bitcoin it used to be right?
It's controlled by banksters and government people.
Read my other post.

Another reason some might be unsure about the after effects of the hard fork . So in such a scenario are selling the btc before the fork takes place. So sort of panic selling happening and due to which the price is coming down. Though it has moved to to 5840$ now.

yobit is not a good exchange and for me, Ybit is just like shit. Right now, dont believe in yobit's price. I can say that you have to wait for other big exchange to release the trading pair such as poloniex or bbittrex. Bitcoin gold is not yet existed and the official date that we can receive bitcoin gold is tomorrow

This is the same things that happened on bittrex when bitcoin cash was listed before August splitting and many new traders will like pump bitcoin gold before the splitting. The whales and manipulators know how this market work and they know how to get into the heart of people in other to make them invest in those coin and at the end dump those coins when they get to their target. This games has been play several times especially during the splitting like these.

First of all, Yobit is a graveyard exchange where even the most shitty altcoin can be listed with no problems.
It lacks credibility or is not an opinion-forming market at all. This little decline of Bitcoin's price might be caused by fork or may not.
I definitely don't believe that it Yobit has anything to do when it comes to shaping price of Bitcoin. Stop trying to link invisible dots :)

yobit is just manipulating their exchange, the price of bitcoin is still good at $5,800. I don't think that price will down on other exchange just because of this, many will just dump this coin and the price of bitcoin is likely going to increase so expect that to happen.

I don't know whats up on their minds which they can able to make such tradings or moves without being backed up by something. Bitcoin Gold? It doesn't still exist yet but look at how Yobit did able to make an advanced trading on it which I can really consider as shady at all. They do have the power since they ran off the exchange and same as others said here they did this thing before on bitcoin cash.

I don't find them also reliable and it's like they are trying to predict the whole market of bitcoin gold today, the hard fork isn't coming but the trade is starting already there?

How come that it is happening but whatever it is, looks the price is starting to pump again and this is quite positive for the bitcoin hodlers.

I'm not sure if I'm going to hold this coin or will eventually do something and dump it like others will do.

Yobit and their predictions have always been a real shit, dont believe in that website because they are probably lying over the price. But maybe it will be worth that amount, but nobody is sure about how much will it be worth once that the fork is over. but it the price is expensive, then i guess that this is good for everyone because the most of us is looking to sell them, well, that is what i am going to do.
But if bitcoin goes down by a lot of money, then i think that i will buy more btc.