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Author Topic: If China opens BTC withdrawals - would that mean a pump or a dump?  (Read 2076 times)
cpfreeplz
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May 31, 2017, 06:18:57 PM
 #41

Chinese will regain confidence in bitcoin so a lot of people would deposit knowing they can withdraw again later, that will pump the price.

Chinese never lost their confidence in bitcoin, and they never lost their confidence in trading it either!
they only lost their access to easy way of trading bitcoin on an exchange in their own country working easily with their fiat.
you can confirmed this if you check the volume of other exchanges they have migrated to as soon as their own exchanges were suspended by PBOC.

Yep. So it's just going to make things easier and get the wheels moving. It's not going to make it so everyone there dumps but instead they will be much more confident in bitcoins and buy more to trade with.














 

 

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rickadone
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June 01, 2017, 10:41:59 AM
 #42

I'd say Dump.

Here is my reasoning: they stopped withdrawals because they were afraid people were using btc for capital flight. Suppose they were right and once withdrawals are allowed, people will send the bitcoin to a western exchange where they can exchange them for dollars or euros. Or use localbitcoins to cash out in dollars or euros.

Either way, that means selling and hence a dump.
Well I am not able to understand one thing that why people are afraid of the Chinese miners and what will they do wrong to the Bitcoin. If the Bitcoin are mined even it will have no bad impression on the users. For the users the bitcoin is Just a currency and they will be using it in the open market. These mined bitcoins will go nowhere but will be circulating in the market.

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June 01, 2017, 06:20:50 PM
 #43

I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?

It could go both ways depending on the forces of the market at the pont that its eventually happening that the effect might actually not felt or being felt in a mild way. We also need to stand understanding that bitcoin is growing beyond the control of one country as we seen in recent times that the news of freezing in China is even not affecting the flow of events afterall.
Yes I agree with you. Things can go both ways either in the favour or against but this is not that easy. Saying it is easy but this is not such a thing that can happen and it will immediate.
Even if the China freeze the bitcoin it will not affect the bitcoin market greatly because we have the Bitcoin users from all over the world. We can’t say that the bitcoin growth will stop by this act of china.

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June 01, 2017, 08:39:08 PM
 #44

I don't get it! why do people even assume there is the smallest possibility of a dump?!!
a business was out of business for some time, now it is reopening, that means people using that business is going to come back and start using it again.
in this case the Chinese, the trading lover Chinese, have been going through other channels to quench their thirst for trading bitcoin for the past few months, mostly on other exchanges and on localbitcoins, now their biggest exchanges are coming back. of course they will come back to them and start their trading there.

People tend to speculate positively, so I guess bitcoin trading will increase again in China as they always do. But I'm a little worry about dump after pump such as happened before. We're on good situation right now where Japan and Korean exchanges lead the trading market.
But, it's kinda weird if withdrawal has been discontinued for some time but Huobi and bttc trading volume also increase during last rally even surpassed​ some big exchanges. It may a good sign that they are excited to be involved, don't want to missed the opportunity.
Being a user and an investor in the field of the Bitcoin a little worry at this stage is ok because you have invested a capital in it a little dump in the price can affect for you but just for the time only. I think those people who understands the scope of the bitcoin in the long range will not be worried too much because they are well aware of the potential of the Bitcoin and its future.


 
 
 
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DRaGoN RaNTaRo
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June 01, 2017, 09:38:24 PM
 #45

Being a user and an investor in the field of the Bitcoin a little worry at this stage is ok because you have invested a capital in it a little dump in the price can affect for you but just for the time only. I think those people who understands the scope of the bitcoin in the long range will not be worried too much because they are well aware of the potential of the Bitcoin and its future.
When we are talking about the scope and usability of a platform what is the first thing will be looking,how smooth things are,do you really think that bitcoin is so smooth and the functionality is so great that people sitting back will think that it is inevitable to take the price to astronomical figures when it has some serious scaling issues. When china opens bitcoin for withdrawal nothing happens,might see some investment in alt coins,other than that nothing will happen.
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June 01, 2017, 10:41:32 PM
 #46

I have hope of pump but last rises was really so amazing, I can't even imagine which exchanger how acts because once 2 of them stopped withdraw and price went down but it was fixed in 2 day. Still I think there will be little pump from their side but not a long lasting one. Again it will fall a little and than will risr again, I this situation everytime.

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June 01, 2017, 11:35:44 PM
 #47

I thing it will be a pump since BTC withdrawals had been open.  This means they can buy Bitcoin and can withdraw them away from exchange.  It is non-sense to have a dump when withdrawals in bitcoin opens.  Dump should had happen when Bitcoin cannot be withdrawn and not when Bitcoin can be withdraw. 

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June 02, 2017, 07:13:50 AM
 #48

I thing it will be a pump since BTC withdrawals had been open.  This means they can buy Bitcoin and can withdraw them away from exchange.  It is non-sense to have a dump when withdrawals in bitcoin opens.  Dump should had happen when Bitcoin cannot be withdrawn and not when Bitcoin can be withdraw. 

Price pump or dump not necessary need to be involved i this. Possible that we will see some changes but dont expect to see then so soon, we have stability in price and dont expect to see any movement in price  for now. But i will like like most that we see price going up but dont expect to see another big pump like it was last one.



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June 02, 2017, 07:48:18 AM
 #49

I thing it will be a pump since BTC withdrawals had been open.  This means they can buy Bitcoin and can withdraw them away from exchange.  It is non-sense to have a dump when withdrawals in bitcoin opens.  Dump should had happen when Bitcoin cannot be withdrawn and not when Bitcoin can be withdraw. 

Price pump or dump not necessary need to be involved i this. Possible that we will see some changes but dont expect to see then so soon, we have stability in price and dont expect to see any movement in price  for now. But i will like like most that we see price going up but dont expect to see another big pump like it was last one.

Surely those big pumps happens rarely since for now as we can see the rice quitely go stable at 2000$+ and maybe it could stay for this for little while and maybe we can see some movements when the time bubble up fuds or bad fuds will spread but for now im enjoying this rate at this point since little by little im earning some good profits from exchanging my btc frequently.


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June 02, 2017, 08:43:13 AM
 #50

I thing it will be a pump since BTC withdrawals had been open.  This means they can buy Bitcoin and can withdraw them away from exchange.  It is non-sense to have a dump when withdrawals in bitcoin opens.  Dump should had happen when Bitcoin cannot be withdrawn and not when Bitcoin can be withdraw. 
A lot of the chinese people are using korean market to be his secondary market. But after the opened of the bitcoin withdrawals by the exchange site and look those are still interested with korean market rather than using the chinese market itself.

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June 02, 2017, 10:50:07 AM
 #51

So Huobi has activated ETH withdrawals, but so far they are refusing to allow the BTC withdrawals. How this is going to be good news for the Bitcoin? My guess is that more Chinese users will convert their Bitcoins to Ethereum, creating a crash in the BTC exchange rates.

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June 02, 2017, 11:00:15 AM
 #52

I thing it will be a pump since BTC withdrawals had been open.  This means they can buy Bitcoin and can withdraw them away from exchange.  It is non-sense to have a dump when withdrawals in bitcoin opens.  Dump should had happen when Bitcoin cannot be withdrawn and not when Bitcoin can be withdraw. 
A lot of the chinese people are using korean market to be his secondary market. But after the opened of the bitcoin withdrawals by the exchange site and look those are still interested with korean market rather than using the chinese market itself.
This is because of the Korean market making big volume of trading causing a difference in the profitability compared to the Chinese exchanges market. Also right now it's said that most users from China and the exchange focus big on the ethereum helping it pump higher.


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June 03, 2017, 10:02:42 PM
 #53

I think it is very probable that BTC withdrawals will be open on Chinese exchanges soon. Huobi just added ETH for trading and enabled ETH withdrawals ( https://twitter.com/huobicom/status/868442008402014208, http://www.newsbtc.com/2017/05/28/huobi-first-big-three-chinese-exchange-enable-ethereum-trading/). It would not make much sense to enable ETH withdrawals but not BTC withdrawals. Also Huobi most probably would not make this change alone.
If my speculation is right - what would it mean? A pump or a dump?
I personally think this is going to mean a slight drop in price of probably 2 to 3 hundred dollars but then after some weeks we are going to see a pump in price, since I think some are going to withdraw their money just to see if it is true and then after making sure they can in fact withdraw their money then they will begin to buy even more bitcoin.



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June 03, 2017, 10:35:37 PM
 #54

So Huobi has activated ETH withdrawals, but so far they are refusing to allow the BTC withdrawals. How this is going to be good news for the Bitcoin? My guess is that more Chinese users will convert their Bitcoins to Ethereum, creating a crash in the BTC exchange rates.

I reckon those holders see the same things happening as we do.

A bull run going for an ATH almost every week. So no I don't thing the majority will sell their coins, but rather invest more and try to profit from this bull market.
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