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Author Topic: China is coming back to the game, moon?  (Read 2436 times)
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May 16, 2017, 04:33:35 AM
 #41

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.


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May 17, 2017, 03:54:40 PM
 #42

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.
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May 17, 2017, 07:20:39 PM
 #43

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

In a sense, I agree. One of the first country to really invest heavy on bitcoin economy. But Chinese coming back will not be the same when they are the dominant country behind bitcoin. Now we have Japan and other countries to back up the bitcoin ecosystem. They are still good to be around though, but we don't expect them to manipulate the price of bitcoin as they want to be. It wont happen now.


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May 17, 2017, 08:49:10 PM
 #44

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.
That is what I noticed too. Chinanese traders are known for their unpredictable nature and are extremely prone to gambling and risk.
Current Price Index Volatility of bitcoin is lowest than ever - Latest 60-Day Estimate is only 3.35%
I am afraid that when China will be fully back online they will try to start pump&dump roller coaster once again.


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May 17, 2017, 08:56:59 PM
 #45

Do we have a timeline for resuming of full bitcoin withdrawal from chinese exchanges? Firm date or just vague "maybe in june"?

I couldnt care less about these trolls saying China doesnt matter. It does, it already did two years ago, when the bear market ended. Bitcoin is retesting ATH right now. Chinese getting onboard would send it straight to stratosphere. And dont mind the fact, that they have been lagging behind by around 15% in USD value. That difference would vanish overnight, making those who timed their longs well, rich overnight.
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May 17, 2017, 10:34:16 PM
 #46

the first after china exchanger nomal withdraw again
bitcoin price with pair yuan, can equal price in USD, after several week bitcoin price in china can highest again, and bitcoin price can incraese very high, maybe incraese to 2000 dollar/bitcoin

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May 18, 2017, 12:29:43 PM
 #47

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

Yes they are but very annoying one sometimes we must say that. But they are more LTC holders then bitcoin one, also they seek opportunity to earn more, like you mentioned they move from asset to asset in search for this goal. Sure they have big influence on the market price no question about but remember that once they were tricked when price in Europe went higher then on China market then was very bad for them but that only happen once.



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May 18, 2017, 12:36:43 PM
 #48

Do we have a timeline for resuming of full bitcoin withdrawal from chinese exchanges? Firm date or just vague "maybe in june"?

I couldnt care less about these trolls saying China doesnt matter. It does, it already did two years ago, when the bear market ended. Bitcoin is retesting ATH right now. Chinese getting onboard would send it straight to stratosphere. And dont mind the fact, that they have been lagging behind by around 15% in USD value. That difference would vanish overnight, making those who timed their longs well, rich overnight.

it is an ongoing process so we can't possibly know a "firm" date on that. and it is a "maybe" at best. I believe near June, they start slowly resuming their full operation, maybe first ask their users to properly register and fully verify first and then open up some channels to slowly let in and out some money.

things will surely be under a lot of observation and restriction from PBoC, because the Chinese exchange have been naughtier than we thought Wink

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May 18, 2017, 01:27:49 PM
 #49

According to the following article, regulations will be released in June:

http://btc-times.com/chinese-bitcoin-exchanges-can-resume-withdrawals-in-june/

It also said the following:

Quote
However, China’s Bitcoin exchanges will not get off scot-free too. BTCC, OKCoin, and Huobi will all obtain an economic penalty. This is not unexpected, as the People’s Bank of China hinted at how a few Bitcoin and Cryptocurrency platforms were not adhering to Anti-money Laundering recommendations properly. It is uncertain what kind of penalty they’ll face ultimately.

I presume that means the exchanges will get fined for breaking various laws. It remains to be seen how much the fine will be, whether they can afford to pay it, and whether they'll try to get the money for the fines from their customers.

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