China markets, WTF!?

[jbreher]

While we've been distracted by little ol' Greece (with ~0.3% WDP), China's stock markets have lost $USD trillions in the last month!

Yeah, slipped under my radar too. Discuss amongst yourselves while I go read some...

[Hollingsworth]

I think the correlation between their stock crash and bitcoin, litecoin price surges is obvious.

Asian stock market frenzy spills over into crypto.

H.

[newIndia]

While we've been distracted by little ol' Greece (with ~0.3% WDP), China's stock markets have lost $USD trillions in the last month!

Yeah, slipped under my radar too. Discuss amongst yourselves while I go read some...

AFAIK, Chinese govt recently stopped subsidizing Chinese manufacturers. This has come as a blow to most Chinese companies as they were getting edge in world market because of their cheap rate. Investors have smelled that profit is gonna deep in coming quarters and hence they are selling out their stock.

I think the correlation between their stock crash and bitcoin, litecoin price surges is obvious.

Asian stock market frenzy spills over into crypto.

H.

It has nothing to do with crypto. I am sure the majority of the Chinese stock market players are not yet in crypto. If they were, just imagine what would happen, even if 1% of a trillion USD slipped into BTC/LTC market.

[NUFCrichard]

I think the correlation between their stock crash and bitcoin, litecoin price surges is obvious.

Asian stock market frenzy spills over into crypto.

H.

2nd biggest economy in the world loses 30% off it's stock markets, and bitcoin rises $30..
I am not sure they can really be correlated, the increase is almost meaningless on that kind of scale,

China frequently prints more money to back the markets in a day than the Bitcoin total value!

[Harry Hood]

I doubt bitcoin has any influence on the China markets. It's a lot more plausible that Greece and EU worries (as a result of Greece) may be driving people to move money out of the market globally.

jbreher, what news did you find us through your reading?

[pereira4]

www.fiatleak.com

China still a major Bitcoin player. I expect big moves by them in the near future. AFter the greece incidents, every non-bitcoin invested individual will be rendered an idiot.

[monsanto]

Well if they keep doing this they'll be forced to trade bitcoin  :

http://www.bloomberg.com/news/articles/2015-07-07/chinese-trading-halts-freeze-1-4-trillion-of-shares-amid-rout

Chinese companies have found a guaranteed way to prevent investors from selling their shares: suspend trading.

Almost 200 stocks halted trading after the close on Monday, bringing the total number of suspensions to 745, or 26 percent of listed firms on mainland exchanges, according to data compiled by Bloomberg. Most of the halts are by companies listed in Shenzhen, which is dominated by smaller businesses.

The suspensions have locked up $1.4 trillion of shares, or 21 percent of China’s market capitalization, and are becoming increasingly popular as equity prices tumble. If not for the halts, a 28 percent plunge in the Shanghai Composite Index from its June 12 peak would probably be even deeper.

“Their main objective is to prevent share prices from slumping further amid a selling stampede,” said Chen Jiahe, a strategist at Cinda Securities Co.

The rout in Chinese shares has erased at least $3.2 trillion in value, or twice the size of India’s entire stock market.

Later, the number of halts requested increased to more than 1,200, the 21st Century Business Herald said, citing exchange data. The Shenzhen Stock Exchange will reject unjustifiable applications for suspensions, QQ.com reported, citing an unidentified person familiar with the matter.

[Slark]

www.fiatleak.com

China still a major Bitcoin player. I expect big moves by them in the near future. AFter the greece incidents, every non-bitcoin invested individual will be rendered an idiot.

What Greece crisis has to do with BTC? The only correlation is that Bitcoin is trying to promote itself because of this. It is not FIATs or Euro fault that Greece is in crisis, it them living over the top and spending money like fools caused this. Euro is still strong and will remain that way since Greeks Voted "NO". Bitcoin investment is still highly susceptible to whims of markets in many ways more than EURO ever was.

[Cryptopher]

I think that events in China have played a big part in the recent surge in the crypto markets.

Litecoin has made remarkable gains (a train I have repeatedly missed), and that is being driven by Huobi.

Not sure if it will be sustained for long, though there seems to be a lot of LTC holders sitting in a long position.

[jeannemadrigal2]

And the interesting thing is China started buying up stock, the government is buying stock, to prevent a further collapse in price.  The end result is the exact same thing as the usa's Greenspan put (and its successors), an artificial price support.  This will make for bubbles and inflated asset valuations, if my thinking is correct.  I wonder, if the usa will do this too eventually because you can only lower interest rates to zero, and then there is no where to go.  I mean in addition to QE that they did.

[yayayo]

You should not only watch the Chinese stock market, you should also watch commodities. Their decline indicates that we might enter a new bust cycle very soon with China only honking first.

I doubt there is a significant influence on the Bitcoin market. The majority of the Chinese people doesn't know about Bitcoin and will prefer precious metals.

ya.ya.yo!

[d4n13]

I found some asian exchange selling Sharkcoin.... in the millions... crazy.

http://coinmarketcap.com/exchanges/jubi/

[cellard]

www.fiatleak.com

China still a major Bitcoin player. I expect big moves by them in the near future. AFter the greece incidents, every non-bitcoin invested individual will be rendered an idiot.

What Greece crisis has to do with BTC? The only correlation is that Bitcoin is trying to promote itself because of this. It is not FIATs or Euro fault that Greece is in crisis, it them living over the top and spending money like fools caused this. Euro is still strong and will remain that way since Greeks Voted "NO". Bitcoin investment is still highly susceptible to whims of markets in many ways more than EURO ever was.

Greece debt was audited and judged illegal. I would love to see those who hate on greece posting here looking at their credit card bill and seen their debt increasing 5 fold out of a bank scheme. They will be the first to pick up the phone and complaint with their bank. Now Greece has to pay and shut up... well not gonna happen.

[kelsey]

While we've been distracted by little ol' Greece (with ~0.3% WDP), China's stock markets have lost $USD trillions in the last month!

and gained ridiculous trillions of $US equivalent in the last 12 months.

chinese markets for last 12 months are still up crazy % gains, just last few weeks have had a correction, sky ain't falling.



 

[DeepLee]

China stock martet volume was doubled in  the past year. So, 30% drop is a little case.

[jbrnt]

China stock martet volume was doubled in  the past year. So, 30% drop is a little case.

Yes, fund managers has been buying China stocks for months when they started opening doors to foreign investors. Now that China's economy is slowing down, US picking up, and Grexit, they left. It's not because of cryptos. Bitcoin do not have that much influence over stock markets  

[kelsey]

China stock martet volume was doubled in  the past year. So, 30% drop is a little case.

Now that China's economy is slowing down, US picking up

if you consider 7.4% growth slowing down (compared to the US' 2.4%) then yes 

[ticoti]

China has been in a really big bubble for some years,and it is starting to collapse

house prices are in a bubble too, but the point is that they are a very closed enviroment with own badge and they may avoid it or make it less bad

[coinableS]

I saw a post on twitter that said people are selling tons and tons "irrationally". It completely reminded me of the bitcoin bear market and I thought, ahh so that's where the bearwhale went. 

[PenguinFire]

China has been in a really big bubble for some years,and it is starting to collapse

house prices are in a bubble too, but the point is that they are a very closed enviroment with own badge and they may avoid it or make it less bad

That is interesting.  Is their housing crisis as bad as the most recent one in the United States?