Hello,
Currently, i checked all the Chinese exchange have blocked their withdrawal, you can put money it but can't take fiat out.
My assumption is that many people in China are just holding on it waiting for the withdrawal to resume in order to cash out...
Do you think this could have a negative effect on the price?
I'm pretty sure that it's not the fiat withdrawals that are blocked but rather the bitcoin withdrawals.
I agree with Amph, I don't see any sort of correlation between blocked and unblocked. Unblocked is always better though because people can trade freely again(even though most people already moved their funds to p2p trading).
Chinese exchange volumes are pretty much dead as well, I really don't think that unblocking it will have some sort of major negative effect on bitcoin price at all. Sure they can dump it, but there is really no incentive for them to as the bitcoins they hold came from paying a premium in the first place.
Bullshit mate, if they block Bitcoin withdrawal then time to forget such exchanges for good, best thing about Bitcoin nothing and no one could block
Your transactions other than all the miners combined, if BTC were blocked then people would've dumped them for fiat since they were unable to take
out any coin so they would've wanted fiat instead, don't give misinformation if you have no idea what is going on. OP what do think, do you really
Think Chinese are unable to move their coins into other exchanges and then cash out there? even if they dump who do you think will buy from them?
Such a dumping is a blessing IMO and opportunity for others if haven't got the chance so far to buy some cheap coins.
