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Author Topic: BTC price down on yobit, btg now trading  (Read 904 times)
somac.
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October 23, 2017, 12:32:41 PM
 #1

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.
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October 23, 2017, 12:35:52 PM
 #2

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

A lot of people seem to expect that bitcoin gold will cause the price of BTC to fall, simply because people are holding BTC to get free BTC gold. Once they've got it they'll move their money away from bitcoin.

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October 23, 2017, 12:37:28 PM
 #3

or they'll sell the btg and buy btc, meaning price will go up.
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October 23, 2017, 12:38:24 PM
 #4

looks like other exchanges are now following
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October 23, 2017, 12:52:19 PM
 #5

price action of btc and btg is just stupid. hopefully things are a bit calmer on other exchanges when the split actually happens
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October 23, 2017, 12:59:56 PM
 #6

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.
I see price on poloniex and bittrex is 5700-5800$ and on yobit 5200$, i am not sure why there is such huge difference between yobit and other exchanges.
A lot of people seem to expect that bitcoin gold will cause the price of BTC to fall, simply because people are holding BTC to get free BTC gold. Once they've got it they'll move their money away from bitcoin.
Who is expecting that? There will be correction but i don't think bitcoin price will fall because of bitcoin gold. It will be another altcoin in my opinion.
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October 23, 2017, 01:04:06 PM
 #7

I suspect the price difference is due to opening trading on the yet to be bitcoin gold. As well, as a freeze on withdrawls and deposits on yobit.

Currently btc = 5550. btg = 0.12btc
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October 23, 2017, 01:32:12 PM
 #8

Did they credit members on yobit, or are they just trading futures at the moment? I know there were a few sites that were crediting early.

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October 23, 2017, 01:51:35 PM
 #9

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

No, I'm sure the price change isn't caused by yobit adding BTG market. It's just normal daily fluctuation I think.

Did they credit members on yobit, or are they just trading futures at the moment? I know there were a few sites that were crediting early.

They credit the member when they open the BTG/BTC market. It's technically a futures because the actual BTG isn't launched yet. They disabled Bitcoin deposit and withdrawal three hours prior to the market opening and I think it'll keep disabled until the BTG snapshot is done.
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October 23, 2017, 02:36:49 PM
 #10

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

A lot of people seem to expect that bitcoin gold will cause the price of BTC to fall, simply because people are holding BTC to get free BTC gold. Once they've got it they'll move their money away from bitcoin.

Most likely this the scenario that we are seeing right now. Yobit announcement earlier giving free bitcoin gold push the price to ATH, and it looks like they are selling bitcoin gold now and taking it somewhere else, either cashing it out or going back to altcoin market. But I don't think that they are going to altcoin becaus they are still bleeding. I suspected that most of them are just holding bitcoin gold now and not yet dumping it. I'll expecting that bitcoin will recover again tomorrow at $6000 or above once more.

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October 23, 2017, 03:04:55 PM
 #11

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

The bitcoin price drop has nothing to do with bitcoingold. It's just people profit taking (and is happening on all the exchanges) 

 
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October 23, 2017, 03:29:36 PM
 #12

What is trading in yobit right now is not the real bitcoin gold and price of bitcoin was dumped there because all bitcoin holders are getting free bitcoin gold there which they can sell there and withdraw USD into perfectmoney account and than buy back bitcoin with those PM dollar. People are just selling their bitcoin there so price was dumped hard but in other trading platform bitcoin is trading way over the price of yobit.

 
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October 23, 2017, 03:33:20 PM
 #13

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.
Why are you taking it seriously even the hardfork still didn't happen by the way. The yobit exchange site gives an answer about the temporary hype to the bitcoin hardfork itself. Many people are predicting it right now. See in some days later the price of bitcoin gets dumped and the demand will move toward the bitcoin cash and i believe the history of the bitcoin cash will be repeating again in the future,
But after the hype gone and bitcoin cash just nothing with its difficulty adjustment to give the profit to the miners for securing the bitcoincash network.

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October 23, 2017, 03:43:34 PM
 #14

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.


i think all know bitcoin price will drop after fork 25 october . volume trade bitcoin in yobit today 233 btc small little .. and the drop of price will  Moves to other site exchange for sure
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October 23, 2017, 03:50:26 PM
 #15

The fact is people don't want bankster bitcoin core.
They want a coin by the people for the people. Which is what btg is.
We will see massie capital flow from bitcoincore into btg.
I suspect it will be valued around $2500 within a few days. And bitcoin core will lose that value, at least.

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October 23, 2017, 04:07:56 PM
 #16

The fact is people don't want bankster bitcoin core.
They want a coin by the people for the people. Which is what btg is.
We will see massie capital flow from bitcoincore into btg.
I suspect it will be valued around $2500 within a few days. And bitcoin core will lose that value, at least.
I dont agree with you. Bitcoin core will always the best priced coin cause its just "bitcoin" not bitcoin cas-gold-silver-etc etc.
And people will dump btg as soon as possible

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October 23, 2017, 04:13:53 PM
 #17

Did they credit members on yobit, or are they just trading futures at the moment? I know there were a few sites that were crediting early.
Obviously it's a derivative thing, as BTG hasn't been "launched" yet, so people are straight up gambling right now with something that doesn't exist.  Yobit has done this before, and it's sketchy as hell, and I'm wondering if it's even legal.  No US exchange would probably get away with just creating a derivative security/currency out of thin air,  but this is Yobit.  Ny prediction is that they'll eventually get shut down by regulators.  I don't even know what country they're based out of.

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October 23, 2017, 04:19:21 PM
 #18

The fact is people don't want bankster bitcoin core.
They want a coin by the people for the people. Which is what btg is.
We will see massie capital flow from bitcoincore into btg.
I suspect it will be valued around $2500 within a few days. And bitcoin core will lose that value, at least.
I dont agree with you. Bitcoin core will always the best priced coin cause its just "bitcoin" not bitcoin cas-gold-silver-etc etc.
And people will dump btg as soon as possible

You realize Bitcoin core is not the Bitcoin it used to be right?
It's controlled by banksters and government people.
Read my other post.

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bitcoinisbest
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October 23, 2017, 05:02:06 PM
 #19

So the btc price has taken a bit of a dive on Yobit when the btg trading opened up. Does anythink that the prices will come down on other exchanges like this?

I honestly didn't think btg would move the price of btc at all.

The bitcoin price drop has nothing to do with bitcoingold. It's just people profit taking (and is happening on all the exchanges) 

Another reason some might be unsure about the after effects of the hard fork . So in such a scenario are selling the btc before the fork takes place. So sort of panic selling happening and due to which the price is coming down. Though it has moved to to 5840$ now.
lanyounanhai
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October 23, 2017, 05:52:05 PM
 #20

yobit is not a good exchange and for me, Ybit is just like shit. Right now, dont believe in yobit's price. I can say that you have to wait for other big exchange to release the trading pair such as poloniex or bbittrex. Bitcoin gold is not yet existed and the official date that we can receive bitcoin gold is tomorrow
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