Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[0rganic]

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

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[JayJuanGee]

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

This price going up then china releasing some bullshit news to hammer it down cycle is laughable.

Maybe it is too early to know for sure, but really, even if you have corroboration, that does not necessarily mean causation... especially since we pretty much went from $1000 to $1070 without any meaningful correction.

It's just an excuse for a correction that was likely due...

Sure, it would have been nice to have gone straight past $1200 - but that is too optimistic, no?  Don't we have to kind of expect some corrections here and there before we get to or go past the ATH?

[_nur]

Downtrend!!!!

[stereotype]

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

This price going up then china releasing some bullshit news to hammer it down cycle is laughable.

Dont know what to make of Star's comment. Is he really asking the PBOC to be a custodian of Bitcoin?.....
 
"OkCoin Chief Executive Officer Star Xu suggested the PBOC set up a third-party custodian platform to prevent exchanges from absconding with users’ money, the company said in an e-mailed statement."

[Fatman3001]

It's pretty clear by now that PBOC is manipulating the market.

Which means they trade BTC.

Which is good, I guess.

[bitebits]

Think it is really healthy these kind of 'corrections' take place.

Growth needs to be steady to be without major side effects + the bitcoins get distributed to a larger group of holders. Both are good for a longer time rise.

[Karartma1]

The four stars and stripes digits are being tested hard (and they are holding). I can't stop watching the trades but I hope the $1000 resistance will keep the dump away. This is a real turning point to see a glorious march ahead. Or, at least, this is the way I see it.

[soullyG]

Yup, clawing back last nights losses already  

"China bans Bitcoin!!!!11" lol

[gembitz]

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

^fake news      lmfao

[0rganic]

Up! she goes, No! stopping! the Honey Badger

[Lauda]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

[600watt]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

since... day one, no? 

[LFC_Bitcoin]

This isn't even news.

Translated to - China wants to be able to tax major Chinese exchanges because they're probably using both crypto & fiat to run their organisations. Why the hell wouldn't they be taxed when they cash out crypto for fiat.

A total non story this.

[600watt]

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

^fake news      lmfao

“There are a lot of people shorting bitcoin now, one because of the regulatory environment, another because the price is relatively high,” said Tian Jia, a Beijing-based trader of bitcoin. “The fact that PBOC continues to look into this issue might make people think that the whole thing isn’t over, and based on past trends, whenever the central bank holds meetings with exchanges the price will drop.”

bloomberg was surprisingly quick with this one. they almost brought it before the dump...   

[gembitz]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

^it this point i really hope they would! It would cause panic buying!! :-D

[afbitcoins]

What the fuck happend

My Chinese friend sent me this link:  
http://finance.sina.com.cn/china/gncj/2017-02-08/doc-ifyameqr7339635.shtml?qq-pf-to=pcqq.group
You can use google translate, it means:"PBOC(The People's Bank Of China) has a meeting about anti money laundrying with Chinese major bitcoin exchanges(I translate it)"

wow, just because of that article? the chinese are crazy man, thanks for link

the story (with unnamed sources 'familiar with the matter' 'speaking on condition of anonymity', blah-de-blah) can be used as cover for the manipulation .... not the cause. The gold market has been functioning like this but on bigger scale for ~2 decades.

Not that big a drop can't even see it on my Heikin ashi 1 day chart

[swogerino]

What drop?
I woke up and the price was the same when I went to bed.
Maybe it was all just a bad dream to most.

[d5000]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I expect a consolidation in the 1030-40's and then a new attempt to break 1000€ (1070USD). I continue to expect at least $1100 as a new local high but an new ATH looks difficult to me in the next month.

[Torque]

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

^fake news     lmfao

“There are a lot of people shorting bitcoin now, one because of the regulatory environment, another because the price is relatively high,” said Tian Jia, a Beijing-based trader of bitcoin. “The fact that PBOC continues to look into this issue might make people think that the whole thing isn’t over, and based on past trends, whenever the central bank holds meetings with exchanges the price will drop.”

bloomberg was surprisingly quick with this one. they almost brought it before the dump...  

No shit.  And then they went back in literally within minutes and edited/updated the article to reflect the price action, adding sensational words like "plummeted", cherry picking a recent chart from the last half hour.  All in real time.

They were just waiting on the drop from their "buddies".

Now tell me again how the media is not in bed with bitcoin manipulators?

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I've been on this forum for years now telling people that bitcoin buying/selling is not primarily driven by the Chinese people, and trolls made sure to come out and try to stomp on my posts every single time.  Now they can see the truth.

[Denker]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I expect a consolidation in the 1030-40's and then a new attempt to break 1000€ (1070USD). I continue to expect at least $1100 as a new local high but an new ATH looks difficult to me in the next month.

Great post.I second that.
Furthermore I find it funny or better said ridiculous that people still fall the comments PBOC is making after fees have been introduced.
These guys definitely have an agenda running.But I hardly doubt they will ever ban Bitcoin.This is not going to happen.
One day they can announce whatever they want, Bitcoin will give a shit and continue rising in value.