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Author Topic: After the usual PBOC bullshit routine. Uptrend continues.  (Read 2005 times)
cellard
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February 08, 2017, 12:31:15 PM
 #1

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

China is back with their controlled demolition of the price to short it, but it keeps getting buyed back up fast. Last time we crashed down to $775, now only down to $1009. We still didn't go below $1000, good news. We are back to $1038.

Those damn chinese have found a new way to make free money by trigger panic sells and stealing cheap BTC from dumb panic sellers. Hopefully the PBOC bullshit is weaker everytime.

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February 08, 2017, 12:44:12 PM
 #2

China is old news now. nobody cares about them anymore.
there was a time when people still thought the billion dollar daily volume they reported were real, but now we know how fake it was.
there was a time when people still thought all the mining power came from China, but we have been seeing more and more hashrate from other places.

and with all these changes, i don't think there is anybody naive enough to believe FUD like that and make the price go down. it is time for the FUDsters to find better and newer things Cheesy

   

 
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February 08, 2017, 01:14:12 PM
 #3

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

China is back with their controlled demolition of the price to short it, but it keeps getting buyed back up fast. Last time we crashed down to $775, now only down to $1009. We still didn't go below $1000, good news. We are back to $1038.

Those damn chinese have found a new way to make free money by trigger panic sells and stealing cheap BTC from dumb panic sellers. Hopefully the PBOC bullshit is weaker everytime.

Chinese miners and traders are so weak, I can't understand what they think, China bans bitcoin so many times, but weak hands are still afraid the bad news. I think most of Chinese miners and traders are only SPECULATORS, they do not TRUST bitcoin and blockchain technology, they hunt for quick money, they don't deserve the future huge gain(5000 usd, 10000 usd), ignore those nervous sheep miners.
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February 08, 2017, 01:39:45 PM
 #4

China is old news now. nobody cares about them anymore.
there was a time when people still thought the billion dollar daily volume they reported were real, but now we know how fake it was.
there was a time when people still thought all the mining power came from China, but we have been seeing more and more hashrate from other places.

and with all these changes, i don't think there is anybody naive enough to believe FUD like that and make the price go down. it is time for the FUDsters to find better and newer things Cheesy

Chinese exchanges still have the biggest volumes, China is still the biggest BTC market and whatever happens there will have impact on the price. And if the Chinese authorities really ban bitcoin - then the price there will plummet. So far it does not seem like they want to do that - what they did so far is only making the Chinese market a bit more civilized curbing the fake manipulative data, and enforcing other laws. This still have impact on the price, because now there will be less demand for BTC used for illegal activities.

Personally I bet on quick recovery from this - but I would not say people who think otherwise are naive or weak hands - all this derogatory talk is unnecessary and frankly pretty silly.
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February 08, 2017, 03:00:07 PM
 #5

nothing can stop the uptrend of bitcoin price!
they can slow it down and make it reverse for a short time with a dip but in the end things always come back to normal and price continues rising because there is always a very strong demand for bitcoin.

and also many try so hard to show China bigger than they really are. yes they are big but not even half as big as they are shown to be.














 

 

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February 08, 2017, 03:03:44 PM
 #6

Quote
Chinese exchanges still have the biggest volumes, China is still the biggest BTC market


No they dont.

No its not.



Thats the latest extrapolation after PBoC forced chinese exchanges to drop their pants down.
cellard
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February 08, 2017, 03:22:42 PM
 #7

China is old news now. nobody cares about them anymore.
there was a time when people still thought the billion dollar daily volume they reported were real, but now we know how fake it was.
there was a time when people still thought all the mining power came from China, but we have been seeing more and more hashrate from other places.

and with all these changes, i don't think there is anybody naive enough to believe FUD like that and make the price go down. it is time for the FUDsters to find better and newer things Cheesy

Well something is clear: the PBOC press releases are still causing dips. Who is naive enough to think this was a natural spontaneous correction? Im pretty sure the PBOC statement helped.

These dirty chinks are preparing in beforehand and then they drop the news after they have set their short orders. But like I said before, bitcoin is getting too old for this shit, it is too strong now. $2000 journey continues.

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February 08, 2017, 03:51:32 PM
 #8

they're rapidly running oit of ammo. soon enough china will be just another place in terms of market players.

now if we could only get people to use somewhere less crappy than bitfinex we might be on to something.
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February 08, 2017, 03:56:31 PM
 #9

Quote
Chinese exchanges still have the biggest volumes, China is still the biggest BTC market


No they dont.

No its not.



Thats the latest extrapolation after PBoC forced chinese exchanges to drop their pants down.

Surprised about that smallish GBP and RUB volume. Russia banning/permitting Bitcoin once has been a similar gameplay like PBoC acts out today. And many trade sites in europe are british limited companies.
On this pie chart they are thinner than the icing, negligible.
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February 08, 2017, 03:56:35 PM
 #10

Quote
Chinese exchanges still have the biggest volumes, China is still the biggest BTC market


No they dont.

No its not.



Thats the latest extrapolation after PBoC forced chinese exchanges to drop their pants down.

Come on - this chart lumps all USD exchanges together. Today OKCoin has had so far 20K volume - which exchange had more? Maybe the Japanese ones - but those are again zero-fees unreliable data. The same thing with the market share - CNY is pretty much only used in China - USD is used in all national markets.
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February 08, 2017, 04:00:38 PM
 #11



Surprised about that smallish GBP and RUB volume. Russia banning/permitting Bitcoin once has been a similar gameplay like PBoC acts out today. And many trade sites in europe are british limited companies.
On this pie chart they are thinner than the icing, negligible.

gbp will always be dead. what exchanges there are bank in europe which costs money and takes time to send to. may as well use kraken.
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February 08, 2017, 04:07:06 PM
 #12

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

China is back with their controlled demolition of the price to short it, but it keeps getting buyed back up fast. Last time we crashed down to $775, now only down to $1009. We still didn't go below $1000, good news. We are back to $1038.

Those damn chinese have found a new way to make free money by trigger panic sells and stealing cheap BTC from dumb panic sellers. Hopefully the PBOC bullshit is weaker everytime.

Chinese miners and traders are so weak, I can't understand what they think, China bans bitcoin so many times, but weak hands are still afraid the bad news. I think most of Chinese miners and traders are only SPECULATORS, they do not TRUST bitcoin and blockchain technology, they hunt for quick money, they don't deserve the future huge gain(5000 usd, 10000 usd), ignore those nervous sheep miners.

I think it is not just Chinese but there is a large number of traders all around the world who are just here to make some quick bucks trading bitcoin. They just don't give a damn about bitcoin or any other alts in the space. They are just here, happy to flip bitcoin or other alts to fiat and satisfied with their 5 to 10 percent gains.


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February 08, 2017, 04:20:40 PM
 #13



Surprised about that smallish GBP and RUB volume. Russia banning/permitting Bitcoin once has been a similar gameplay like PBoC acts out today. And many trade sites in europe are british limited companies.
On this pie chart they are thinner than the icing, negligible.

gbp will always be dead. what exchanges there are bank in europe which costs money and takes time to send to. may as well use kraken.

None of the GBP exchanges are integrated into the UK faster payments setup (even if they are technically UK based). If you're going to mess around with the time and cost of wires or some sepa fudge you might as well trade in USD or even EUR and gain on the liquidity. You can't trade on big spreads and low liquidity, a catch 22 that Coinfloor is trying to address (IIRC) with 0% maker fees.
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February 08, 2017, 04:33:59 PM
 #14

Classic bitcoin cycles, people closing positions and shorting to take profit, nothing to worry about. The trend is still bullish and we will see several green candles this week.
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February 08, 2017, 05:07:54 PM
 #15

Jesus how do people fall for the boy that called wolf over 20 times.. LIKE fuck boys.. didn't you learn after #12? 

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February 08, 2017, 06:42:02 PM
 #16

Quote
Chinese exchanges still have the biggest volumes, China is still the biggest BTC market


Thats the latest extrapolation after PBoC forced chinese exchanges to drop their pants down.

Come on - this chart lumps all USD exchanges together. Today OKCoin has had so far 20K volume - which exchange had more? Maybe the Japanese ones - but those are again zero-fees unreliable data. The same thing with the market share - CNY is pretty much only used in China - USD is used in all national markets.
The info almost got me confused until u referred to the exchange unit not the exchange site. I have always seen the large amount accrued by the chinese in volumes and analysis. so surprised US had not done that much. This large volume has always been the bone of contention on decentralization, which if it continue this way it will still stand

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February 08, 2017, 06:54:43 PM
 #17

Quote
Today OKCoin has had so far 20K volume - which exchange had more?

if bots playing ping pong with one btc selling and buying it back 20k times because the trading fees are a joke, its still 1 BTC. And not 20k BTC.
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February 08, 2017, 07:21:40 PM
 #18

Quote
Today OKCoin has had so far 20K volume - which exchange had more?

if bots playing ping pong with one btc selling and buying it back 20k times because the trading fees are a joke, its still 1 BTC. And not 20k BTC.

Have you even noticed a change there recently? PBOC requested that there is a 0.2% transaction fee on all Chinese exchanges and that the volumes reported are correct. The volumes there decreased many times - sure the exchanges can still cheat, but so can western exchanges.
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February 08, 2017, 07:24:30 PM
 #19

PBOC seems to be bothered when ever the price starts to go up as it trying to avoid been put under the knife from the international community for not regulating btc  that's why it needs exchangers to be  in check with the currency.
I believe with all this publicity bitcoin is getting a platform to grow MORE!!


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cryp24x
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February 08, 2017, 09:22:46 PM
 #20

PBOC seems to be bothered when ever the price starts to go up as it trying to avoid been put under the knife from the international community for not regulating btc  that's why it needs exchangers to be  in check with the currency.
I believe with all this publicity bitcoin is getting a platform to grow MORE!!

Well PBOC always used this kind of tactics whenever a good incline in price of Bitcoin is seen.  It happen several times so I guess it is obvious that people are now having a resistance to PBOC  bad press towards Bitcoin.  Which has been shown in the uptrend price of Bitcoin this past weeks.

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