The China Effect

[bettercrypto]

I agree the Chinese Government is just enforcing some rules to make it more safe for their citizen to trade with bitcoin though I guess whales are taking advantage on this scenario.  With lots of Bitcoin in hand and having some against bitcoin news, they can easily manipulate the market by dumping part of their huge holdings and start a panic sell from the weaker hands.

You know what the real issue is with this? This Chinese news where so many people panicked over isn't anything that affects trading at all. It doesn't affect Bitcoin at all. If people took the effort to actually analyze and understand these articles, they wouldn't dump. Even after all these years people still haven't learned anything. People are as brainless as always. Especially when you consider how little effort it cost for whales to blow these articles up, but where the resulting market reaction is massive. It always works, so these whales will continue to influence the market. If people would stop dumping like brainless chickens, then these whales will have to come up with something else as it isn't working anymore.

But the problem is there is always weak hands among traders especially those who are new to the scene and are half-hearted when they bought their bitcoins.  Whales are cunning they knew that there is always someone falling to their traps.  The trick has been around since the beginning but there are still lots of people falling for it.  Though I agree with you that the article if analyzed is more reassuring for bitcoin.

[ArdiPrabowo]

Question:  If it's China that's doing the selling and driving the price down,  who are they selling to?  And would that not lead to a redistribution of bitcoin?  Also, is there any proof of China as a whole being responsible for the drop?  I'll admit I read absolutely zero crypto news.

china exchanger, huobi and okcoin is big market
the best volume transaction in there, the best bitcoin user in china country twoo
so huobi and okcoin can trend bitcoin price in follow in there

after issue about china bank investigation china exchanger bitcoin price down

[bravehearth0319]

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

Sounds in your reason you became panic. Its not just because China owned biggest bitcoin in the world they can freely control the price of Bitcoin. No its not like that, have you forgotten bitcoin is DECENTRALIZATION not centralization. Always remember and keep that in your mind.

[ICOGuru]

i think trump will help bitcoin price by creating uncertainty in the US economy.

[Taki]

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

Sounds in your reason you became panic. Its not just because China owned biggest bitcoin in the world they can freely control the price of Bitcoin. No its not like that, have you forgotten bitcoin is DECENTRALIZATION not centralization. Always remember and keep that in your mind.

Yes China has the biggest number of bitcoin users in the world. But don't you think that many of this users will cash out their bitcoins before Chinese New Year for presents and celebration? Such mass withdrawing can make the price for bitcoin to drop very fast.
I don't like to make any prognoses, but it's pretty possible scenario.

[Denker]

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

Sounds in your reason you became panic. Its not just because China owned biggest bitcoin in the world they can freely control the price of Bitcoin. No its not like that, have you forgotten bitcoin is DECENTRALIZATION not centralization. Always remember and keep that in your mind.

Yes China has the biggest number of bitcoin users in the world. But don't you think that many of this users will cash out their bitcoins before Chinese New Year for presents and celebration? Such mass withdrawing can make the price for bitcoin to drop very fast.
I don't like to make any prognoses, but it's pretty possible scenario.

What makes you so sure about that?
The numbers of exchange volume? Do oyu know that anybody could trade on the chinese exchanges? There is something like VPN.
And I know lots of traders who based in western countries due to zero fees and high leverage.However this may chnage now.The times of high leverage seems to be over and possibility of fees getting introduced soon is getting discussed as well.
After that we will see how big china in terms of bitccoin trading really is!

And no I don't think just due to chinese new year there will a massive sell off.
It dod not happen the years before, sho why should it happen now?!
Makes no sense!

[Raimonn]

Now china exchanges had the biggest volume trading, one of the possibilities its that these exchanges has 0 fees on trading. Some of them announced that they will start charging fees on trading, we will see if volumen falls and witch is the real trading volume on these exchanges.

[Denker]

Now china exchanges had the biggest volume trading, one of the possibilities its that these exchanges has 0 fees on trading. Some of them announced that they will start charging fees on trading, we will see if volumen falls and witch is the real trading volume on these exchanges.

As I and many who followed that topic have expected...chinese exchanges will introduce trade fees!!
Will be interesting to watch how their trading volume will develop over the next couple of weeks.

[alyssa85]

Now china exchanges had the biggest volume trading, one of the possibilities its that these exchanges has 0 fees on trading. Some of them announced that they will start charging fees on trading, we will see if volumen falls and witch is the real trading volume on these exchanges.

As I and many who followed that topic have expected...chinese exchanges will introduce trade fees!!
Will be interesting to watch how their trading volume will develop over the next couple of weeks.

It will definitely change the way they trade - be very interesting to see how they respond. We will find out whether bots were painting the tape, or whether trades were real.

[Clement Kaliyar]

i think trump will help bitcoin price by creating uncertainty in the US economy.

I really do not think that Trump would make any stupid announcement which would create a problem for the entire economy so that people would start  investing heavily into bitcoin.The Chinese market is still the prime area of interest and any news that would come out of China would be super sensitive and it could make or break the trading volume as well as the price of the coin.

[BitFinnese]

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

Sounds in your reason you became panic. Its not just because China owned biggest bitcoin in the world they can freely control the price of Bitcoin. No its not like that, have you forgotten bitcoin is DECENTRALIZATION not centralization. Always remember and keep that in your mind.

Yes China has the biggest number of bitcoin users in the world. But don't you think that many of this users will cash out their bitcoins before Chinese New Year for presents and celebration? Such mass withdrawing can make the price for bitcoin to drop very fast.
I don't like to make any prognoses, but it's pretty possible scenario.

I do not think there is a need for them to cash out for the new year.  Having them bought bitcoin in the first place means they have more than enough of money for their dailies and that they are able to buy and save Bitcoin.  Aside from that those who bought bitcoin because they are escaping their own currency will not cash out, because that is the exact opposite of what they intend to do.

[Huge Black Woman]

Yep, yessir I do believe it's them Chinese responsible fo' all this booshit we seein' wit bitcoin.  And prolly wit da shitcoins too.  They got they yella little hands in evverthang.  They good fo' bootleg USB cables, an' that's about it fer me.  An' even then I feels like I'mma rippin' Americans off evertime I buy one.

[manselr]

China is just playing his cards... it's all about timing. They are dropping all those small bombs, trying to constantly dip the price and profit from it. It's obvious there are some people out there with insider information getting rich with all those dips that happen whenever the PCOS has to say anything, notice that it doesn't matter what they are saying, but when. The result is always the same: a dip.

But that has a short lived effect, eventually they will run out of steam, once all the cards are used, they will have nothing left, all those programmed dips will not happen again and Bitcoin will rise higher than Huge Black Woman's diabetes.

[SHAWN-MIDWAYS]

Yep, yessir I do believe it's them Chinese responsible fo' all this booshit we seein' wit bitcoin.  And prolly wit da shitcoins too.  They got they yella little hands in evverthang.  They good fo' bootleg USB cables, an' that's about it fer me.  An' even then I feels like I'mma rippin' Americans off evertime I buy one.

the way i see it china kind of wants to control the world from buying the football big names to be a future hub of soccer,
 to wanting to start production of their own chips to cut down on foreign technology and challege US chip makers Micro technology
and now they want to regulate bitcoins through their  exchangers and manipulate the price altogether.

[SvenBomvolen]

   Chinese exchanges have accounted for 42 percent of all Bitcoin transactions in 2016 year. I search more about this topic on internet, China is growing and their economy is growing every year. China, up until about 50 years ago, was a small-time player on a global scale now they are strong force.
   I found this real time the influence of China on current bitcoin trading: http://fiatleak.com/
   First minute all bitcoins are going just to Chinese, then US a bit and couple times in Russia. Looks like Chinese are dominating!

[blackhawkeye1912]

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

I'm wondering about what you said, where did you get the source that the 90% of bitcoins owned by China? For me this is just an speculation. That has no proof of evidence and no basis. Although, I cannot deny China has many investors in bitcoin industry.

[manselr]

   Chinese exchanges have accounted for 42 percent of all Bitcoin transactions in 2016 year. I search more about this topic on internet, China is growing and their economy is growing every year. China, up until about 50 years ago, was a small-time player on a global scale now they are strong force.
   I found this real time the influence of China on current bitcoin trading: http://fiatleak.com/
   First minute all bitcoins are going just to Chinese, then US a bit and couple times in Russia. Looks like Chinese are dominating!

The fiatleak website has already been proven as not accurate a million times before, i dont know why people keep posting it. I dont remember why exactly fiatleak isnt accurate, but i remember reading a convincing explaination. Bottomline is, that site cannot be trusted.

We don't know the exact numbers, but in any case, its clear china is dominating the bitcoin game when it comes to hashrate and exchange volume.

[d5000]

Fiatleak to me seems to be correctly registering every single buy trade (at a first glance). But it's obvious that zero-fee exchanges incentive their users to trade _much_ more than if there were fees - it has not even to be intentional fake trading or manipulation, and so almost every bitcoin "leaked" from the fiat system goes to China (but >90% of them get converted instantly to fiat again ).

In a couple of hours we will see if this proportion will still continue after the end of the zero fee policy. As volume has already dropped at these exchanges I expect the volume decrease between January 23 and 24 will not be extremely high, but we can expect at least another 50% - if not 70 or 80 % - decrease.

The impact on price is unclear for me. It is possible that less overall trade volume is viewed as a bearish indicator by some traders, but in my opinion most will know the reason and so the bearish impact will be limited. The scalability/block size/segwit debate, in my opinion, is much more important.

[marcoman22]

Whatever happens in china related to bitcoin, it has an impact on the whole world.Its because china holds the majority volume of bitcoins. They have more bitcoin mining firms and obviously, they have more bitcoins mined.If they wish, they are able to do a pump and dump in bitcoin price to some extent. Recently, you would have observed a great rise and fall in bitcoin price this month due to china situations. Only option is if bitcoin is totally banned in china, then they would sell their holdings and stop mining which would definitely create the original decentralised bitcoin.

[BingoDog]

China has great deal in bitcoin and influence the price great deal. I'm afraid there is nothing we can do about it, it's just how the bitcoin market is functioning at the moment. Is this good or bad for bitcoins the time will tell.