China Closing. China Buying?!

[ujka]

Stop posting that bullshit animation from fiatleak.

It doesn't have accurate data. Sure it know every sales on exchanges since those information are public, but how the hell it know which sales was purchased by Chinese traders ? Don't believe in what fiatleak show you.

It doesn't tell you that a trader is/not Chinese - it does tell you in which fiat currency the trade was!

[TTM]

Stop posting that bullshit animation from fiatleak.

It doesn't have accurate data. Sure it know every sales on exchanges since those information are public, but how the hell it know which sales was purchased by Chinese traders ? Don't believe in what fiatleak show you.

It doesn't tell you that a trader is/not Chinese - it does tell you in which fiat currency the trade was!

I know that, but trading volume on Chinese exchanges is fake, so fiatleak's number also not accurate.

[bryant.coleman]

While some panic selling is going on, some people are also rapidly buying all of it at this price.
Probably chinese gov, then they release good news and the price go up, and they make a profit.

There us no rapid buying. If there was any such thing, then the price wouldn't have fallen this much. And to think that the Chinese government is doing margin trading in Bitcoin is just ridiculous.

[franky1]

china is not closing. they are changing bank accounts

i wont explain it again so here is the link to the explanation
https://bitcointalk.org/index.php?topic=564120.msg6157475#msg6157475

[Jherek]

Update:  See conclusion drawn below:  https://bitcointalk.org/index.php?topic=565250.msg6158549#msg6158549

--------------

I realize Fiatleak.com isn't 100% reliable, but its strange watching the price tank because China is closing exchanges today, and yet mass quantities of BTC are still being purchased by China, as per:

BTW, it has always been this way. When I looked mid feb: Bitcoins flow to china. A few days later: BTC -> China, a month later BTC->China. Seems China is buying all the time. Also remember, that there live more people in east and southeast asia, than outside of this area...

[rudius]

Close to 10,000 BTC traded in BTC-China today, till 10 pm. Trade volume is much higher than the previous days. I think some panic selling is going on there.

i beg to differ. Looking at charts on okcoin and huobi, they are buying those bitcoins that america is dumping.

[cryptoart.com]

I wonder if Buying BTC with LTC constitutes a buy.  If so, that may explain it.