current bitcoin price drop result of Chinese exchanges

[lordquanta]

The chinese exchanges have continued to hold the suspension on the withdrawals. This is a big thing. Because this time the ban is for indefinite time. suspension will lift only after regulators approve internal compliance upgrades. Withing few hours, the price drops in bitcoin prices fell sharply and continued to remain so.
Check further details at following link

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

[lokomotive]

China is always blame for Bitcoin flutations. As all minning gear is made there, most pools and hashing power are there. Same as chinese hold most BTC.

[bitcoinisbest]

China is always blame for Bitcoin flutations. As all minning gear is made there, most pools and hashing power are there. Same as chinese hold most BTC.

Yes you are right, China hold the majority of the coins and their volume ideally decides the price of btc will be up and down. Any negative news from China will make the price of the coin fall. So is vice versa. If they decide to put a control on the coin etc then surely fall in the price is expected in coming days.

[zahra4577]

The chinese exchanges have continued to hold the suspension on the withdrawals. This is a big thing. Because this time the ban is for indefinite time. suspension will lift only after regulators approve internal compliance upgrades. Withing few hours, the price drops in bitcoin prices fell sharply and continued to remain so.
Check further details at following link

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals

If bitcoin is manipulated by China or any other country, organization or individual, this will be the end of bitcoin.
Chinese love to create monopolies and I guess with their large mining power,they now wants to take over bitcoin too.
I hope something should be done to prevent this.

[matumbaman]

They will soon allow those pending withdrawals to withdraw and the price will soon go down.

[lordquanta]

They will soon allow those pending withdrawals to withdraw and the price will soon go down.

A lot is riding high on ETF decision. If it gets approved then be ready see the bitcoin price shoot to 2000$ to 3000$, irrespective of any one understanding significance of it. But big whales are moving(buying/selling) large bitcoin chunk too fast.  If it gets rejected then some correction is expected but bitcoin price would not plunge by huge margin. It would be relatively small/appropriate.

[chronicsky]

They have been holding it for quite some time now, its not china this time.
Atleast not yet

They will soon allow those pending withdrawals to withdraw and the price will soon go down.

A lot is riding high on ETF decision. If it gets approved then be ready see the bitcoin price shoot to 2000$ to 3000$, irrespective of any one understanding significance of it. But big whales are moving(buying/selling) large bitcoin chunk too fast.  If it gets rejected then some correction is expected but bitcoin price would not plunge by huge margin. It would be relatively small/appropriate.

it got rejected man!

[lordquanta]

They have been holding it for quite some time now, its not china this time.
Atleast not yet

They will soon allow those pending withdrawals to withdraw and the price will soon go down.

A lot is riding high on ETF decision. If it gets approved then be ready see the bitcoin price shoot to 2000$ to 3000$, irrespective of any one understanding significance of it. But big whales are moving(buying/selling) large bitcoin chunk too fast.  If it gets rejected then some correction is expected but bitcoin price would not plunge by huge margin. It would be relatively small/appropriate.

it got rejected man!

Yep, it had been rejected and this is not the first time. It had been rejected by the SEC three times.  So there was no point in putting all hopes on ETF. It would have been really nice to get it approved though.

[zahra4577]

I hear  there is a second hearing also on 31st of March.Is it true? Although the chances of getting it approved in second hearing (if there is any) are also negligible but I think it will hold up price.

[vaibhavsingh]

bitcoin has been literally bouncing like anything today
I've seen preev go from 1250 to 1100 then back to 1270 like 2-3 times today
someone quick could've made some nice profit out of it. 

[eaLiTy]

bitcoin has been literally bouncing like anything today
I've seen preev go from 1250 to 1100 then back to 1270 like 2-3 times today
someone quick could've made some nice profit out of it. 

Even with the rejection of ETF the price of bitcoin is holding strong and it never went down as expected,the price was moving rapidly for most of the day after the news came out about the rejection of ETF but there are several factors and for those who are not aware of the fact that two more companies are waiting for their result to become the first bitcoin ETF.

[bitcoinisbest]

bitcoin has been literally bouncing like anything today
I've seen preev go from 1250 to 1100 then back to 1270 like 2-3 times today
someone quick could've made some nice profit out of it. 

Even with the rejection of ETF the price of bitcoin is holding strong and it never went down as expected,the price was moving rapidly for most of the day after the news came out about the rejection of ETF but there are several factors and for those who are not aware of the fact that two more companies are waiting for their result to become the first bitcoin ETF.

This strong hold maybe for temporary because ETF confirmation was one big reason that btc price was rising from last couple of weeks and now with rejection there is drop in coming time because from here to rise there needs to be some reason and this does not seems so yet of any reason for a rise.

[zahra4577]

bitcoin has been literally bouncing like anything today
I've seen preev go from 1250 to 1100 then back to 1270 like 2-3 times today
someone quick could've made some nice profit out of it. 

Even with the rejection of ETF the price of bitcoin is holding strong and it never went down as expected,the price was moving rapidly for most of the day after the news came out about the rejection of ETF but there are several factors and for those who are not aware of the fact that two more companies are waiting for their result to become the first bitcoin ETF.

This strong hold maybe for temporary because ETF confirmation was one big reason that btc price was rising from last couple of weeks and now with rejection there is drop in coming time because from here to rise there needs to be some reason and this does not seems so yet of any reason for a rise.

Now that ETF is behind us and price is still not crashed like expected,I realised the reason for bitcoin price was something else.It might be chineses exchanges withdrawal ban but I think withdrawal ban should have a negetive effect because a lot of bitcoin is got on hold and this creates uncertainty among investors.

[susila_bai]

bitcoin has been literally bouncing like anything today
I've seen preev go from 1250 to 1100 then back to 1270 like 2-3 times today
someone quick could've made some nice profit out of it. 

Even with the rejection of ETF the price of bitcoin is holding strong and it never went down as expected,the price was moving rapidly for most of the day after the news came out about the rejection of ETF but there are several factors and for those who are not aware of the fact that two more companies are waiting for their result to become the first bitcoin ETF.

This strong hold maybe for temporary because ETF confirmation was one big reason that btc price was rising from last couple of weeks and now with rejection there is drop in coming time because from here to rise there needs to be some reason and this does not seems so yet of any reason for a rise.

Now that ETF is behind us and price is still not crashed like expected,I realised the reason for bitcoin price was something else.It might be chineses exchanges withdrawal ban but I think withdrawal ban should have a negetive effect because a lot of bitcoin is got on hold and this creates uncertainty among investors.

Actually you are wrong the last small crash in BTC was due to unapproved of ETF on first attempt but the market got recovered soon as their is one more chance on last week of this month when their will be second chance of getting approval of ETF to list bitcoin. Now at present their is no affect of any Chinese market on bitcoin anymore

[lordquanta]

The day Chinese exchanges lift ban there will be chaos in the bitcoin market. Noone like their money locked without no reason for so long. Players in those exchanges might be thinking "Who knows what will happen next time. It's better to sell whatever we have or at least get it out from exchange and dump somewhere else." At least they would get some return for their bitcoins.