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Author Topic: China is buying - Something's coming up  (Read 1170 times)
Sukovsky
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September 17, 2017, 01:40:49 PM
 #1

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...
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September 17, 2017, 01:48:02 PM
 #2

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...

They ran out of stuff to dump so they are buying more XD
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September 17, 2017, 02:04:11 PM
 #3

Nothing is "brewing". All the Chinese exchanges' prices are still the lowest if you convert them to the dollar. You can compare them with the other countries' exchanges here, https://coinmarketcap.com/currencies/bitcoin/#markets

That proves that the investors in China are still dumping Bitcoin, and the climb in price is a normal reaction by the market after a major sell down.


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September 17, 2017, 02:23:07 PM
 #4

The inability to buy and sell Bitcoin in a convenient manner is brewing, that's what.

It looks like Chinese folks are already planning their post ban trading options and it's going to be a lot more ramshackle than their current choices. They may as well either stock up or get rid beforehand. There's going to be a lot more friction once it's in place.

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September 17, 2017, 02:29:27 PM
 #5

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...

huh! you seem to be correct but i have to admit it is very strange! the volume is nearly 20,000 and the price has not moved much in this huge volume! it is as if there was a huge sell wall that was eaten into.

do you have more information on this?

(this is hourly chart by the way, which means that volume was within 1 hour:

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September 17, 2017, 02:30:05 PM
 #6

I guess someone with good contacts and US accounts is buying to do arbitrage. Maybe the exchange owner's themselves.

I think anyone would do the same, if they could.



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September 17, 2017, 02:35:56 PM
 #7

If you know the mentality of Chinese, that's not really new. So I believe that this ICO ban thing is just some propaganda. Let's watch.
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September 17, 2017, 02:55:35 PM
 #8

I guess someone with good contacts and US accounts is buying to do arbitrage. Maybe the exchange owner's themselves.

I think anyone would do the same, if they could.
doing arbitrage for ordinary people today is a very unfortunate thing. we should look at the risks we get later, because the unstable market of china can make all the horrible risks happen so easily.

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September 17, 2017, 03:13:54 PM
 #9

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...

It might be just short-covering, rather than anything real.

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September 17, 2017, 03:17:00 PM
 #10

I guess someone with good contacts and US accounts is buying to do arbitrage. Maybe the exchange owner's themselves.

I think anyone would do the same, if they could.

If that would not be possible then BTC on one exchange can be $1  and on another $100000. Does that sounds normal to you?  It is perfectly fine that people do arbitrage. Even if exchange owners does.  This way price on expensive exchange reduces and price on cheap exchange raise.

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September 17, 2017, 03:41:27 PM
 #11

Nothing is "brewing". All the Chinese exchanges' prices are still the lowest if you convert them to the dollar. You can compare them with the other countries' exchanges here, https://coinmarketcap.com/currencies/bitcoin/#markets

That proves that the investors in China are still dumping Bitcoin, and the climb in price is a normal reaction by the market after a major sell down.
Its just really a price pullback which do normally happens when the price tends to either dump or pump there would be always a pullback on the price but the thing i doubt is the volume posted on the image above which it doesnt really give any major movement in the price when you try to look on the volume.

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September 17, 2017, 03:49:37 PM
 #12

This is always doing everytime the price was decrease because of the fake news. .
Or the news that we heard about the license regulated for exchanges that i think sooner or later will be exchange will be more active than before..
So that expect that the price in few weeks will increase too much 5k for bitcoin is not enough so expect that we will see the price around .. $6k to $7k..

And also i was thinking for other people who newbie in investing in bitcoin and sold their bitcoin for unprofitable price i think they will not interesting to buy again back because they already experience bad things in bitcoin..
Hope that trust will back so that bitcoin can be more trending again. .

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BitHodler
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September 17, 2017, 04:08:15 PM
 #13

Nothing is up ~ whales are just making use of this situation to shake the market up and down. It's now more than ever an easy job to drive the market into a certain direction since people are easily pushed into buying or selling.

I am still having the prediction of Goldman Sachs in mind, where they pretty accurately predicted the peak, and maybe also the bottom that sits far below the $3000 mark.

I rather have enough fiat aside for when the market is plummeting further from current levels. Currently the market seems to be in a calm state, but there isn't much needed to trigger another round of heavy panic selling.

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September 17, 2017, 05:39:03 PM
 #14

Nothing is up ~ whales are just making use of this situation to shake the market up and down. It's now more than ever an easy job to drive the market into a certain direction since people ar but e easily pushed into buying or selling.

I am still having the prediction of Goldman Sachs in mind, where they pretty accurately predicted the peak, and maybe also the bottom that sits far below the $3000 mark.

I rather have enough fiat aside for when the market is plummeting further from current levels. Currently the market seems to be in a calm state, but there isn't much needed to trigger another round of heavy panic selling.
They obviously did not envisage Bitcoin could be this tenacious and had probably looked forward to its abysmal crash, but the market instead gave them the fit of their lives and now they're trying to lick their wounds. Bitcoin we must realize have spread far and near and is now far more decentralized and more formidable than where it stood couple of years back. That is a dream come through and actually one of the goals Satoshi had in mind - a currency not manipulable by the governments or financial institutions like Goldman Sachs.

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September 17, 2017, 06:12:27 PM
 #15

I guess someone with good contacts and US accounts is buying to do arbitrage. Maybe the exchange owner's themselves.

I think anyone would do the same, if they could.

If that would not be possible then BTC on one exchange can be $1  and on another $100000. Does that sounds normal to you?  It is perfectly fine that people do arbitrage. Even if exchange owners does.  This way price on expensive exchange reduces and price on cheap exchange raise.

By this the cheap exchange rate will increases. Many use to trade due to some normal Exchange is their .If all the trading became very costly means,you will at first reduce the trading and then ,you will quit your trading. Which will entirely reflect the price of bitcoin. By this the price of bitcoin will reduce.

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September 17, 2017, 07:07:52 PM
 #16

They always find a way to keep trading. Last time it was tokens instead of cash.
I imagine that this time it will be a Hong Kong exchange, or a government allowed exchange.

The reason for the dips are usually short lived, we just have to see how the long effects hang around.


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ahmedjamal1998
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September 17, 2017, 07:32:27 PM
 #17

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...

I really need to know from where you got this kind of information Huh
Just look here :https://coinmarketcap.com/currencies/bitcoin/#markets

Obviously the Chinese exchanges are the ones with the lowest prices which means still major selling is happening over there.
The price on bitfinex, poloniex and bittrex is already above $3700 and they are at $3080.

What buying are you talking about ? It is clear that everyone else right now except china is buying bitcoins as a normal reflex action after the dip.
Skarner21
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September 17, 2017, 07:57:03 PM
 #18

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...

I really need to know from where you got this kind of information Huh
Just look here :https://coinmarketcap.com/currencies/bitcoin/#markets

Obviously the Chinese exchanges are the ones with the lowest prices which means still major selling is happening over there.
The price on bitfinex, poloniex and bittrex is already above $3700 and they are at $3080.

What buying are you talking about ? It is clear that everyone else right now except china is buying bitcoins as a normal reflex action after the dip.
Maybe here https://bitcoinwisdom.com monitoring volume from the market and watching the movement of the price.Maybe he was thinking about okcoin exchange site and maybe he heard from some people from china about this.
Well as i can seen if we see there are people buying bitcoin in china there is possibility that the price can be burst increase sooner so i think he is just giving a signal not sure this is a signal but it can be possible that the price can be increase if we will heard some good news these coming days.

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September 17, 2017, 09:13:01 PM
 #19

I imagine that this time it will be a Hong Kong exchange, or a government allowed exchange.

Some articles and discussions I have been reading through were pointing at the Chinese government to set up a license that will only be given to a very small number of exchanges -- the first and probably only exchanges to get it will be Huobi and OKCoin. Not sure why BTCC is being left out, but it was BTCC that came up at first with the announcement to shut down several CNY related activities. It may very well turn out to be a measure to significantly decrease the number of exchanges there to have a better level of control. It may be true, or end up being complete nonsense, only time will tell, but I find it hard to believe that they will ban CNY trading entirely....

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September 17, 2017, 10:23:53 PM
 #20

China is buying hell out of the market on okcoin. Almost 10k already.

Something's brewing...
All of the prices in the exchange sites are still low comparing with the western or asian exchange sites, But the important thing is the volume is really low comparing with another exchange sites, And i think that the price will be stable at the moment until there is a way for the chinese to trade outside there.

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