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Author Topic: BTC price should have risen after China froze exchanges  (Read 1598 times)
CyberKuro
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February 11, 2017, 05:34:15 PM
 #41

The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
It just slowing down the process to significantly decline and we've recovered,
As long as China gov doesn't ban bitcoin but just regulated and issues exchanges policy, then we would be fine.
Bitcoin become an alternative payment for every currencies, so there's no doubt it will still rise again and again.
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February 11, 2017, 11:07:28 PM
 #42

People's Bank of China(PBOC) is very obvious. Whenever the bitcoin's price surges to $1000.  PBOC quickly do something to make bitcoin traders panic and sell their btc. So the bitcoin's price drops back again. But now it doesn't much affects the bitcoin's price this time. I guess their trick is not working anymore. Expect PBOC will intensify their actions against bitcoin.

No, I have a different view. PBOC does not look if bitcoin's price is more than $1000. Nowadays, has more and bigger problems but these are related to chinese upward trend to bitcoin but not only the price. That is, yuan was at very low last Tuesday and the the drop of Yuan was 6.6 percent against the price of dollar last year. This was the worst annual drop since 1994. The chinese currency has fallen to its lowest level the previous seven years. This drop made the investors to look for a better currency in order to protect their funds. So we saw this raw intervention from the PBOC which decided to forbid customers of exchanges to withdraw their bitcoin and ltc but let them to sell their cryptos and to withdraw yuan hoping that will intercept their citizens to buy bitcoins and ltc.


EDIT:Double post
wahb
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February 11, 2017, 11:17:03 PM
 #43

The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
It just slowing down the process to significantly decline and we've recovered,
As long as China gov doesn't ban bitcoin but just regulated and issues exchanges policy, then we would be fine.
Bitcoin become an alternative payment for every currencies, so there's no doubt it will still rise again and again.
now we are not going to experience any major downfall. now people are not letting bitcoin to fell down too much and if it fell down to some level then it recover its position very soon. and i think that is a very important thing for the future of bitcoin.
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February 12, 2017, 12:04:36 AM
 #44

The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?

There is bitcoin after China, my friend. I can realize that most bitcoiners use to think that the only important factor to determine the value of bitcoin is China, but I have no doubt that there are lots and lots of equally important factors that are pumping or dumping the price, although it is easier for alleged analyst to reduce all these options in a single one: China.


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Erza
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February 12, 2017, 12:21:23 PM
 #45

The supply of circulating BTC is now less, at least for a month or possibly longer. Should not a decrease in available supply increase the price?
It just slowing down the process to significantly decline and we've recovered,
As long as China gov doesn't ban bitcoin but just regulated and issues exchanges policy, then we would be fine.
Bitcoin become an alternative payment for every currencies, so there's no doubt it will still rise again and again.
now we are not going to experience any major downfall. now people are not letting bitcoin to fell down too much and if it fell down to some level then it recover its position very soon. and i think that is a very important thing for the future of bitcoin.

Yes that is true, someone that hold the most bitcoin will have to recover this thing in the future to make sure bitcoin price is not become too volatile so that in the future bitcoin price will become stable as other currency in fiat. So if I can say better save your coin for now. And i think China will think about this, they want to get everything, in order to do that they want to get hold of bitcoin peice as high as possible
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