By the time you figure out why Bitcoin has risen, it will crash. Here's why

[Reatim]

Why are we talking about China here? The only reason why they are still relevant is that they control bitcoin mining farms. Even PBoC already said that closing their domestic exchanges is the right thing to do. That's a fact. Its no conspiracy that you are trying to imply here. There are several reasons why bitcoin is going to the moon. Financial institutions are accepting bitcoins, futures contracts are being offered by CBOE and CME thing coming December. Followed by Nasdaq in 2018. China closing it exchanges has nothing to do with the price going up.

And I don't believed that they will re-open local exchanges. As per The vice governor of the People's Bank of China, Pan Gongsheng:

"If we didn't shut bitcoin exchanges and crack down on initial coin offerings [ICOs] a few months ago, and if more than 80 percent of the world's bitcoin transactions and financing activities were still taking place China, which was the case back in January, what would it be like today?"

https://www.coindesk.com/closing-cryptocurrency-exchanges-was-the-right-move-says-pboc-official/

Its very clear. What would be their reason allowing it to operate again? They wan't to crash bitcoin? I would have believed if because they want to really capture the market with Bitcoin Cash, but with the rollout of the digital crypto Yuan. It doesn't makes sense at all.

[RayvenPierre]

First of all I'm so confused why he is so focused on China, don't tell me you're one of those people who supports the Chinese cryptocurrencies and exchanges that's why you're so focused that China will be the cause why bitcoin will crash. First of all bitcoin is not banned in China and you can still use it there. And I don't see a reason why bitcoin will crash if China re-opens their exchanges, right now bitcoin is doing perfectly fine and guess what, it is happening without the Chinese exchanges. With the way you're saying you're making it sound that bitcoin is being manipulated by China, but hey bitcoin is a decentralized cryptocurrency meaning no one controls it.

[ir.hn]

You know why I'm telling everyone the truth here and not secretly making tons of money becase I know bitcoin will go up to 500k- 1M before china crashes it?  Because I don't want china to win.  China is trying to take as much western weapth as possible in this orchestrated pump and dump.  When bitcoin is at 1 million and china starts selling millions of bitcoin on the open market, not only will it crash the price but all those trillions of dollars china will own.

Here is my latest theory on how it may play out.

China announces the digital yuan launch.  They will accept chinese trading in thier now illegal bitcoins in order to claim digital yuan.  Now who gets all the bitcoin?  The chinese government.  Now once the digital yuan is launched they will dump the millions of bitcoin on the open market causing a price crash back down to $1000.  Now the chinese people will all worship thier government for saving from such a horrible fate!

[MoonJeina]

A Chinese insider just spilled the beans:
https://bitcoinmagazine.com/articles/china-turns-bitcoin-focus-inward/

At the end of the article he says that China still left open wiggle room to re-open exchanges.  Now this may sound like good news, China is the biggest miner and trader of bitcoin.  But if you know why Bitcoin has risen recently this is very bad news. 


                                   

Bitcoin is skyrocketing because it banned exchanges.  The exchange ban went into full effect sept 30th.  This is when bitcoins price started going to the moon.  Supply and demand.  Almost all of the bitcoin supply comes from China.  When exchanges were shut down, none of that supply could make it to the market.  Hence the price goes up.

Two situations could then crash bitcoin.  First a Chinese mining ban.  This would mean the supply of bitcoin would shift to other countries as china will exit the mining pool.  This would cause an increase in bitcoin supply to western markets by nearly 2,000 bitcoin per day.  This would cause bitcoin price to crash but it may be a slow process.

China knows what it is doing and it is trying to obfuscate what is going on behind the scenes.  China wants to crash bitcoin.  They will do it to lead up  to their rollout of the digital crypto Yuan.

Bitcoin will go to the moon.  It will go so high that the whole world will see.  Then as quickly as the rise started, china will re-open the exchanges and cause an instant dump.

At that point everyone will know what caused the rise of bitcoin.  Will you figure it out before that day?

The report seems pretty contrary to me . When China Ban was announced , there was a significant dip in the bitcoin in the beginning . But the Chinese ban is not at all responsible for the sudden rise . How can dumping be the reason of the up liftment of the price ?
Moreover , China might be thinking of Banning the mining pools but they cannot ban the mining pools throughout the world . Ban at one sight will eventually be leading to construction of other pools at some different regions . That will not drastically affect the bitcoin value . The Chinese government have always been making some contradictory statements against bitcoin but that doesn't seem to be working as the demand and supply is plunging since then . The controversy ultimately lead to positive publicity for Bitcoin afterwards . Now the after effects can be clearly witnessed.                 

[ir.hn]

I'm not saying dumping will raise the price, the actual blocking chinese from using global exchanges is causing a bitcoin shortage since millions of bitcoins are frozen in china.  When these coins are finally set free then there will be a dump and the price will crash.  What a mining ban could do in china is offset production to other nations who can trade them instead of bieng mined and the coins frozen in china.  So a chinese mining ban would also decrease bitcoins price but not as much.  This is why I don't think china will have a mining ban.

[ir.hn]

Looks like Alibaba is developing the CryptoYuan.  I give it a year before this all goes down.  China accepts the "illegal" bitcoin in exchange for CY (cryptoyuan) then when it gets everyones bitcoin, it dumps them on the open market causing a crash.  Bitcoin will likely never recover and other altcoins will take over.  So when the CY is announced get ready to sell bitcoin.
https://www.cryptocoinsnews.com/bitcoins-not-for-me-alibaba-founder-jack-ma/

[andylioe78]

Domestic trade alone prohibits very strong exchanges reducing supply from China to where the price is calculated: The price is calculated by how much is the exchange rate? China's supply can not get to the stock. It is likely that Chinese miners are finding ways to get rid of coins.

[SlimShadyMmp]

Maybe it might affect bitcoin a little but i doubt it will crash just like that....And chinese are still exchanging....If there is going to be any effect it might just be normal exchange fluctuations and crash

[ir.hn]

Bitcoin will continue on the quick and steady rise due to real demand.  What is this real demand from?  Altcoin trading of course.  We have to realize that bitcoin is the global reserve currency for trading altcoins, this is what creates bitcoin demand.  And with china supply out of the picture bitcoin will continue rising faster than it has before sept 30th until the china dump comes which loss of trust would cause its global reserve status to be lost.

[MMostaza]

Instead of focus in China, I would focus more in: "there is possibilities that Bitcoin crash?"

What about the digital whales? this article is talking about: https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

There is just 1000 people who own 40% of the Bitcoin market and, as the article says, they move coordinated and they can crash the market if they want.

I ask you guys opinion about it: Is this another conspiracy theory? or there is bit of sense in these argumentations?

[CoinOnTheBeach]

I think people always tend to seek a conspiracy if there is something they do not entirely comprehend.
the only thing what is inevitable that will happen to all the crypto currencies is the government regulation.
there will be no bubble. the only question is how will the market react to the government getting involved.

[ir.hn]

expect bitcoins average price to raise 1% per day.  buy on the dips and sell when china gets close to rolling out the cryptoyuan

[Heisenberg8]

Are there estimates of how many BTC are "locked" in closed exchanges wallets?

[ladydark]

OP's post seems to me a nonsense.He is saying that since bitcoin exchanges were shut down in china,large volume of bitcoins were not able to be sold.SO,demand for bitcoin was high but supply was low.Hence the price rise.that's totally rubbish.

Also,OP says that when once again bitcoin price rises,china will open exchanges and bitcoin price would crash.First of all,OP should understand that the large trade volume shown in chinese exchanges were fake volumes and it has nothing to do with bitcoin's price.That's why,despite ban on chinese exchanges,bitcoin price continued to surge.

[meridianbran]

That is because the trend price of Bitcoins is very unpredictable that in one second, it can go both extremes, the only thing that you can do is find the right timing.