Why price skyrockets when China wakes up?

[thms]

 

[Alley]

Their stockpiling and the west is selling.  They're clearly the smart ones.

[mixan]

They are buying in droves and when large volume of bitcoins are bought that is what happens.
West is selling so they are losing out in this tug-o-war of market price. When the price is right China will mass sell then it will be the opposite effect. The west, losers again.   

[zimmah]

Their stockpiling and the west is selling.  They're clearly the smart ones.

they could be selling in the west as well, to get USD.

although they would lose a lot by doing it, it's still easier than going through all the capital controls i guess.

[vuduchyld]

Hard to buy when you are asleep.

[harkonnen]

Because Chinese eats bitcoins for breakfast.

[Snorek]

Because Chinese eats bitcoins for breakfast.

LoL! On a serious note, you gotta admit it is rather hard to trade bitcoin while being asleep. But I observed price drop today (right when I wanted to sell some BTC).
And now price is rising again,that means China is waking up! Thank you Op for this thought.

[Bit_Happy]

Caution: When a market pattern gets easily predicable, often you will see it stop working in the near future.

[ShetKid]

Caution: When a market pattern gets easily predicable, often you will see it stop working in the near future.

Kind of true. Tomorrow morning the chinese will probably dump their bitcoins seeing their plans failing and the americans having already dumped all the coins to put an end to all their hardwork.

[mixan]

Hard to buy when you are asleep.

China does not sleep. Just like Las Vegas the city that never sleeps. But this is a whole country that does not when it comes to money and the markets. Sure their stock markets do but the underground ones do not.

[Cereberus]

Because Chinese eats bitcoins for breakfast.

The iron wall eats chock full-o-nuts for it's breakfast this morning 

[shamati]

Friend, i can tell u. China going crazy for bitcoin.

Soon they will have 90% bitcoins.

Price go to 4000 very very soon.

[shamati]

NOw they're awake 

[mixan]

Friend, i can tell u. China going crazy for bitcoin.

Soon they will have 90% bitcoins.

Price go to 4000 very very soon.

What? This is false information. Everyone knows that United States have the most whales in the world. They are the ones that hold most of those coins. Don't spread rumors to cause anymore damage to what has all ready been done in the last 24 hours. $499 nearly $500 to now $365.
China better make a move fast or it will hit $300 within the next 24 hours.

[Dilla]

Friend, i can tell u. China going crazy for bitcoin.

Soon they will have 90% bitcoins.

Price go to 4000 very very soon.

What? This is false information. Everyone knows that United States have the most whales in the world. They are the ones that hold most of those coins. Don't spread rumors to cause anymore damage to what has all ready been done in the last 24 hours. $499 nearly $500 to now $365.
China better make a move fast or it will hit $300 within the next 24 hours.

80% or something of the transactions of bitcoin are done between cny and bitcoin.  How much do those whales hold of the 14million? 10% is 1.4 million coins.. Not saying that china has 90%, but they could be shaking the shit out of the market to get 90% of the coins.

[zimmah]

Friend, i can tell u. China going crazy for bitcoin.

Soon they will have 90% bitcoins.

Price go to 4000 very very soon.

What? This is false information. Everyone knows that United States have the most whales in the world. They are the ones that hold most of those coins. Don't spread rumors to cause anymore damage to what has all ready been done in the last 24 hours. $499 nearly $500 to now $365.
China better make a move fast or it will hit $300 within the next 24 hours.

80% or something of the transactions of bitcoin are done between cny and bitcoin.  How much do those whales hold of the 14million? 10% is 1.4 million coins.. Not saying that china has 90%, but they could be shaking the shit out of the market to get 90% of the coins.

shake all you want, i'm not giving up my coins

and with me, a lot more are holding strong.

sure, i don't have 100s or 1000s of bitcoin, but if thousands of people like me hold their coins, those coins will never get shaken, even if the price drops to $1 (in fact if the price goes that low I will buy much more).

[n2004al]

Is is very easy to be understand. Behing all this pump of bitcoin of other increase of its price cannot be other reason that the demand in China. The move of this demand or the amount of this demand, because of the number of transactions made there and the number of people connected with bitcoin, play a big role all the world demand. And affect in a big mass even the move of the price of bitcoin.

[target]

well they're 1Billion+ it sure count. People in a single country are less than 100 million but they are 1billion plus. Imagine if they all use bitcoin in a single day then the demand for BTC will rise and so are the value.

[acquafredda]

Chinese bought BTC like chocolate and sweets for several days, not just in the morning. There has been something like 50$ spread between chinese BTC price and rest of the world price. Now that phase is over.
We're onto the next one which we don't know where it will lead. To me, the relevant thing is they showed they can shake the price pretty easily. It's been fascinating beyond measure to trade some btc lately.

[Miracal]

Caution: When a market pattern gets easily predicable, often you will see it stop working in the near future.

Kind of true. Tomorrow morning the chinese will probably dump their bitcoins seeing their plans failing and the americans having already dumped all the coins to put an end to all their hardwork.

True. Seems like a collective strategy to stockpile and raise the prices so when more buyers get attracted these hoarded Bitcoins can be dumped extensively, thereby, decreasing the value dramatically.