Just woke up from Trading all night :D Any reason why price is $490 ?

[RockHound]

It's good to see the markets barely reacting to this China bank news today.

PBOC you won't get any more <$400 coins 

Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.

Good point, cheers! Wonder how btc-e's yuan trading volume is doing?

[RockHound]

With a long bank holiday weekend in the west so no new fiat coupled with Chinas on going debacle price drops could be the theme for this weekend.

Also the effect of these exchanges loosing deposits and therefore the loss of liquidity entering them hasn't been priced in. We wont know the real effects of this until it happens.

Very wise brother   Can see you consider all the angles

[dreamspark]

It's good to see the markets barely reacting to this China bank news today.

PBOC you won't get any more <$400 coins 

Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.

But how does that tie into their capital controls ? Im not well versed on transferring money out of the country in China but I was under the immpression that it wasn't very simple to transfer money in and out?

[uhoh]

It's good to see the markets barely reacting to this China bank news today.

PBOC you won't get any more <$400 coins 

Yeah it's because users in china know that they can't do bank withdrawals now so it's stupid to sell in low rates.
As for buyers, btc-e china is accepting yuan deposits now, so expect prices to go back at 500+ in some hours.

But how does that tie into their capital controls ? Im not well versed on transferring money out of the country in China but I was under the immpression that it wasn't very simple to transfer money in and out?

Withdrawals are unaffected for now it seems, it's deposits that are the problem.


Capital controls, I think It's something like 50k/USD equivalent a year.

[dreamspark]

Withdrawals are unaffected for now it seems, it's deposits that are the problem.


Capital controls, I think It's something like 50k/USD equivalent a year.

So the opposite of the Gox effect Should see prices slumping then lol

[roslinpl]

Price looks like it want to go up but it can't ... for now according to unknown for me reasons

[vitarian]

Is it because more China exchanges shutdown?
https://bitcointalk.org/index.php?topic=574372.0