Chinese exchanges stop withdraws and the market goes down by less than $100
Almost perfect
It does sound like a fairy tale doesn't it? With a happy ending now we are living in with the price now over $1000 and nicely rising ever slightly every passing hour. I do think it is the ETF is to blame for this one.  Is it possible that the Chinese exchanges have been faking volumes even since the last talk with PBoC, which resulted in them starting to charge fees? That would help explain why this week's PBoC intervention hasn't had much of an impact. I must agree with you on this one. Those Chinese were just trying to trick the West into believing what they want them to believe with more smoke and mirrors to get them in their own clutches for whatever reasoning they have. I believe what will keep the price stable now is the announcement of the ETF by the Winklevoss's and what that could reap for bitcoin by the ones that are not totally convinced of BTC as a viable option to compete with other fiat and assets like gold and silver for that matter. We will just have to wait and see what the SEC has to say now. Nay or yey! Do you guys actually think the people that for some reason want to buy Bitcoin now are waiting with such furious intent to buy into an ETF that on March 11, the money will just start flowing like a rap music video? I believe the money will trickle in at first and the Bitcoin economy won't see any real money for 2 to 3 months after, June-ish.
September 21, 2017 save the dateI'm not convinced it'll happen at all. I am usually bullish on these matters but I just can't see it happening. More then likely, it doesn't happen and then commence post speculation dump Who knows if the ETF will be approved? But if it is there will be a large new source of liquidity at a time when bitcoin is making the news for its ath and use as a store of value. The Greece crisis is due to start again, and it gave Bitcoin a healthy pump previously. The risk of a country going bankrupt, defaulting on its debts, and issuing a new currency will get people buying Bitcoins. I not say is not true but would be more likely large funds and people buy Dollar for example, since Greece is part of Europe and if collapse this will take down at some % the Euro also... (but since i know from experience they will not let Greece default, if they do so they are now well prepared and will not have an impact, remember the Vote that Greek people voted NO to new cuts etc and the Prime Minister tsipras made it YES......unforgettable moments to the modern "democracy " ) |
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I see we are going up again. PBOC together with OKCoin and Huobi will have to do something more to dump the price mmore than this. This is totally a trench warfare now. Only the strongest survive  $970 by the way i have a strange feeling something will do indeed and is on the horizon i don't like the charts this moment... this up bounce is not strong What is your "strange feeling?" What level of probabilities do you assign to up or down? When you say that you are more inclined for down, are you influenced by your short (or your having had sold) in your opinion? I try to place my bets in both directions in order that I am neutral about either direction and to just judge the probabilities based on realities of the situation (rather than wishes or rather than positions that I may have taken), and it seems that there is a bit of tension to go up from here.. at least a bit of a upward bounce in the short term, no? I mean we already experienced a considerable and intense increased volume attempting to push prices down. Remember there where tens of thousands of coins dumped in a very short period of time in order to attempt to get prices to go down. There were more than 13k coins dumped on Stamp alone in about 2 hours, and those attempts to dump and to drive prices down have only been so successful. They have run into buying support and inabilities to get the prices to go lower, no? , and there is a bit of pressure to go back up.. that is the sense that i am getting at the current time, as I type.... So maybe as I type I would place additional downwards at less likely than upwards.. maybe 45% or less for downwards, and 55% or more for upwards.. at least the short term. the next 1 to 3% of a price move in either direction.. of course further out, we may have a bit of a different dynamic that develops and we have to keep our ear to the situation (and yeah, we don't know if dumpers still have some coins in reserve that they are ready and willing to dump at these levels and based on current dynamics, even though it kind of seems that they may have used up a lot of their coins already, no?) i am 50% 50% so what comes after will be the same result for me as before the 50% i sold at 950 euro kai bought back at 880 euro. i have the feeling that more coins will be dumped at this level we are now. i can see that (not me....my feeeeeing  ) happening tonight |
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I see we are going up again. PBOC together with OKCoin and Huobi will have to do something more to dump the price mmore than this. This is totally a trench warfare now. Only the strongest survive $970 by the way i have a strange feeling something will do indeed and is on the horizon i don't like the charts this moment... this up bounce is not strong |
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Good morning Bitcoinland.
Still going sideways after yesterday's PBOC-induced dip... currently $972USD (Bitcoinaverage).
It looks like it might take another day or two to get back over $1000 but it might surprise us.
It's interesting to note that "Bear"stamp is leading the pack. The times they are a-changing.
Things are very fragile at the moment... This surprise you say can be at about $800 - $850 new bottom and then recover from that point. EDIT: in March we have ETF, we have also MtGox Creditors meeting lol |
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Nobody think this drop kinda correlate with the fact that Norway just removed VAT on BTC and suddenly made it waaaaay easier for Norwegians to sell their coins? 25% VAT is a lot. Loads of first miners and adopters in that filthy rich country... a friend sold 2000 coins yesterday to an known investor. And more like him did the same.
you mean he sold hand to hand right? without any VAT applying to this transaction as i understand and the investor has to deal with the VAT? |
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it's the best you can do to be optimistic. the next reality will come in some hours .... Current local time in China here https://www.timeanddate.com/worldclock/china/beijingLet's see how they going to read the news and what their actions on the block of their withdrawals.... |
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And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.
i believe should sell and buy back about $50 lower or maybe more.... by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange..... Good luck with that strategy. It is usually a safer strategy to buy after a dip rather than to sell during the dip that may or may not continue.... otherwise if you are in doubt, holding is also usually better than selling after there has already been nearly a 10% dip. You may be correct, but the odds seem a bit against such a strategy it's not a strategy. it was reaction to what happened. i agree with you that it's not safe. sometimes in life it's good that we do things that we not think too much. we just do it. that was the same here and the timing was good in my case. But yes in general i agree with you as i said and hope more people have this strategy for their own safety What you are doing is called gambling, and yes, sometimes I gamble with 1% or 2% of my holdings, and the remainder I engage in safer strategies. You can also have a different tolerance for your gambling threshold, maybe even 10% or 20% of your holdings could be reasonable for some people.... I personally don't gamble with that much of my holdings... but that is just me. What i did you can call it what name you like. and i never "play" around with something more than i can afford to loose.... i believe everyone of the early adopters know that already.. |
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And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.
i believe should sell and buy back about $50 lower or maybe more.... by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange..... Good luck with that strategy. It is usually a safer strategy to buy after a dip rather than to sell during the dip that may or may not continue.... otherwise if you are in doubt, holding is also usually better than selling after there has already been nearly a 10% dip. You may be correct, but the odds seem a bit against such a strategy it's not a strategy. it was reaction to what happened. i agree with you that it's not safe. sometimes in life it's good that we do things that we not think too much. we just do it. that was the same here and the timing was good in my case. But yes in general i agree with you as i said and hope more people have this strategy for their own safety |
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for all of you that you have problems login to Kraken https://status.kraken.com/As you will see also Website - Major Outage API - Major Outage Support - Degraded Performance Now tell me one thing.... after you visit the site and see that API is not working also... Who does the trades on Kraken?  ? Ghosts? The Kraken claims its API is still working, but with degraded performance. Maybe if you keep trying trades through the API you might get some that work. Had 520, 502, and 504 cloudflare errors (used two browsers), while trading seems to be continuing??
We're working to restore access to the site. Trading via API is still possible, but the performance is degraded. The best place to get updates is by following our status page. https://status.kraken.com/The API was NOT working at all.... there are many reasos why the need write that is working, even with degraded performance, but anyway let's wait some time. Now regarding the CNY what do you think? some hours from now and we will have second panic sell wave? |
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for all of you that you have problems login to Kraken https://status.kraken.com/As you will see also Website - Major Outage API - Major Outage Support - Degraded Performance Now tell me one thing.... after you visit the site and see that API is not working also... Who does the trades on Kraken? ? Ghosts? |
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by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....
Too many people trying to login and buy cheap bitcoins. There won't be enough for all of them at current price. Well, can be people who want buy or people who want to sell. This we don't know. The point is, i was already connected and my session not timed out.. so maybe there is a hand behind? What happened with my order for example? when i clicked the order next screen was the error 502....i am really angry...this is the moment that matters the most for us, i don't care how many want to login to buy or sale. i need be able to use the exchange... |
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And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.
i believe should sell and buy back about $50 lower or maybe more.... by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange..... |
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one fact we have until now. the market is very unstable with down trend and orders...
we see now a small bounce back but still we are down 75eur from what was 6 hours before... this is significant change in some hours...
about the future we don't know but i think the second wave is on the way of panic sellers. the news are spreading as we speak and some people with big amounts i think will choose to stay away with fiat for a while
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keep in mind that in some cases the deposits to exchanges take some hours...
what i want to say is that the party is not over as i understand ans said before we will have a second wave down...or better continuing of the first since seems never ending,...just look the sells... omg
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$970. Save yourselves!  This is so true this moment..... Be prepared for the second dump....i had a long time to live moments like this one when i had the second monitor on the exchange ! lucky for me i sold before.. wow as i write i see 5 euro per second down! $960 is breaking. I guess the next stop is $920.
Alright now, this is really starting to hurt.  I said save yourselves. We have a big road ahead as at this point.... Kraken now on 848 EURO.... can you imagine? 150 euro down compare to some hours before... this is crazy.... be careful now...or better save yourselves! |
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$970. Save yourselves! This is so true this moment..... Be prepared for the second dump....i had a long time to live moments like this one when i had the second monitor on the exchange ! lucky for me i sold before.. wow as i write i see 5 euro per second down! |
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imagine now that you could not touch your bitcoins for one month......
remembers me the MtGox days...
and imagine this first wave came up and now in China is night.... until tomorrow i would say (maybe in any minute also) we will have a second wave that will bring us bellow 850 about .....
my personal opinion comparing to the last dump...
this was planned to happen now and we will see more dumps at the next hours..
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well, if you can't take the risk don't! we have a huge sale order wall across all the exchanges people... you think the party is over? shall i buy back now or wait more? my feeling is that we will go more down. what is your opinion?? any more news? |
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it was really hard for me to login to exchange and sell some minutes before. i tried more that 4-5 times..... lucky enough i sold at higher price and now i just look the sale orders coming like crazy..... we go more down i see we are talking about 80 euro down.... some hours before i asked here where do you see we go from 1000euro base and feeling was UP.... but not... |
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wow....this was really deep.... and i still wonder if we reached the bottom or we have more because if this ban is real then we have big problem i think...
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