China markets, WTF!?

[jbreher]

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

http://lmgtfy.com/?q=news%3A+china+markets

(sorry for the snark)

[dopecoindude]

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.

Isn't bitcoin illegal in China ?

Or, is it they can't swap out to their national currency that is illegal ?

[pooya87]

there were many Chinese investors who took loans to invest in their stock market for the profit which is extremely risky. and last month when the stocks first started to fall , many of those investors had to quickly sell their investments to pay back the loans. as the result , this fueled an even bigger drop in stock prices.

since China is still a major Bitcoin player. I think we are going to see big moves by them in the near future. and if this happens, it is going to fuel the bitcoin market even more than what Greece is doing now.

[DeepLee]

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.

Isn't bitcoin illegal in China ?

Or, is it they can't swap out to their national currency that is illegal ?

Dont' trust the rumour.   Bitcoin  is legal all the time in China.  

[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.

It's spreading...

http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-fails

A wave of Chinese companies halted trading in their shares and regulators unveiled new measures to prop up the value of small-cap stocks in the latest attempts to stem a rout that’s wiped more than $3.5 trillion of value.

At least 1,323 companies have halted trading on mainland Chinese exchanges, locking up $2.6 trillion of shares, or about 40 percent of the market’s capitalization.

[AgentofCoin]

It will be interesting to see if China will start buying up BTC.
Currently, I'm not see much movement from them though.

[fryarminer]

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.

It's spreading...

http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-fails

A wave of Chinese companies halted trading in their shares and regulators unveiled new measures to prop up the value of small-cap stocks in the latest attempts to stem a rout that’s wiped more than $3.5 trillion of value.

At least 1,323 companies have halted trading on mainland Chinese exchanges, locking up $2.6 trillion of shares, or about 40 percent of the market’s capitalization.

So in the last couple weeks we have seen banks restricting money withdrawals, people forbidden to remove cask from the bank safety deposit boxes, and share trading halted.

The government let's us think we have money. We don't. They let us use it. Unless it's Bitcoin - which they cannot restrict or halt.

[EternalWingsofGod]

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...

Considering the amount of leverage it is coming back to bite them
Nothing unusual seeing that it was coming for quite some time, but with Greece in the highlight not as much attention is placed on this.

[Amph]

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

so this is only a big swing, because you can0t really talk about a crash in this case

It will be interesting to see if China will start buying up BTC.
Currently, I'm not see much movement from them though.

they have no reason they can produce them

i think they know about their crash, and maybe they are searching for a refuge in crypto?

[HigsonPP]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

[Jeremycoin]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Is that means that, this is the time to introduce Bitcoin to the WORLD?

[HarHarHar9965]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Is that means that, this is the time to introduce Bitcoin to the WORLD?

I guess it is the time to unleash the dragon, let the world fall in love with this dragon. A dragon cannot be controlled or mastered, it can only be of aid. It will help you and protect you, but you can never control it or cage it. You cannot stop it, you cannot damage it. Its  fucking untouchable. That is exactly how bitcoin is and should be, and its time for the world to know about the power of BITCOIN

[Jeremycoin]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Is that means that, this is the time to introduce Bitcoin to the WORLD?

I guess it is the time to unleash the dragon, let the world fall in love with this dragon. A dragon cannot be controlled or mastered, it can only be of aid. It will help you and protect you, but you can never control it or cage it. You cannot stop it, you cannot damage it. Its  fucking untouchable. That is exactly how bitcoin is and should be, and its time for the world to know about the power of BITCOIN

How could you thinking that far ahead, you have a really big imagination.

[bitbunnny]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Do you think that BTC could save the Greece?

[bitcoinmasterlord]

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!

Bitcoin did not make this but the rising bitcoin price can come from that. It does not mean that all chinese, who don't want to lose anymore, go into bitcoin. Bitcoin is small so i would await that only some people move there. So a small rise in bitcoin price is still explainable i think.

[fryarminer]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Do you think that BTC could save the Greece?

Let's think about this. People are starving because banks won't give them cash.

As Strongbad would say:
Yes very yes.

[Amph]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Do you think that BTC could save the Greece?

not so much anymore, but it could prevent something like this to happen again(at least halt the decline of it) , if the next country will trust it before their government will bankrupt

[World]

The Chinese market has crashed down with 30℅ of its stock. Bitcoin is taking up the opportunity in the area of worries , where it is helping itself and the investors. After Greece crisis , people should be well aware of the benefits of Bitcoin.

Is that means that, this is the time to introduce Bitcoin to the WORLD?

slowly slowly ok  
It is all about Accumulation/Distribution  

[jbrnt]

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

For the past 10 years, China's highest growth is 13% and dropping each year to 7% this year. I would say they are slowing down.

[ifightformerkel]

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

So it is good for bitcoin.
When the bubble burst people will move their money into bitcoin.