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Author Topic: [2017-1-27] Bitcoin Price Analysis - PBoC crushes volume  (Read 209 times)
newsatbravenewcoin
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January 27, 2017, 05:26:04 AM
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On the People's Bank of China’s behest, the four major Chinese bitcoin exchanges introduced trading fees this week, causing a significant drop in volume. While the exchanges have been charging for withdrawals, a tiered fee structure incentivised traders to maximize their volume in any way possible. Traders have long since suspected Chinese exchange volume to be manipulated through things such as wash trading and “volumizing.”

http://bravenewcoin.com/news/bitcoin-price-analysis-pboc-crushes-volume/
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January 27, 2017, 07:54:40 AM
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That's truly good. I was getting very tired of fake volumes. In a month or two we'll start see how China trades with a bit more confidence.  Wink

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January 27, 2017, 08:44:03 PM
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If this results in a more stable price in the long run, which I think will really happen, then it will make it for the average joe far more appealing to start taking Bitcoin serious. Right now the instability of the price is playing a major role as to why they don't want to dive into Bitcoin yet. And yes, of course the media effect plays an important role too, but with less instability, the media has less negativity to spew around. Great step forwards.

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