The Chinese understand the long game better than anyone as one of the oldest civilizations and having existed through so many revolutions
The Chinese are interested in a large variety of markets including speculative markets
With the USD tied to the CNY, the Chinese need alternative value storage vehicles to hedge their bets against USD collapse
The Chinese were privy to a much more elaborate dialogue of the news we are only now accepting/realizing and have already done a lot of profit-taking
For every seller, there's a buyer who wants to profit, so the buyer has to realize that the market isn't going to last forever with no new funds coming in and sees an escape route that isn't visible to the naked eye.
All the arbitrage is going to leave BTChina, at least temporarily. The volume will inevitably drop significantly from this event and the price of BTChina will have a diminishing effect on the other exchanges once it's not #1 any more.
Mt Gox & Bitstamp are being scared into lowering their prices. The higher they keep them, the more incentive Chinese investors have to retain their Bitcoins and seek another way out.
If China had banned Bitcoin when the market valued it at a penny, it would have soared in value. China's statement is a testament to the power of Bitcoin, albeit bad in the short-term by causing mass panic and further speaking to the "instability of the currency".
The problem at BTChina is temporary. Either BTChina goes up in smoke and they liquidate their coins into the other markets or they find another payment processor solution.
Current price is $483 at MtGox and the equivalent of $350 in BTChina, these spreads will continue to increase as they have been over the days/hours because MtGox and Bitstamp know the value of Bitcoin despite this market manipulation, this could find MtGox looking at prices around the last high of $266 while China could find itself at $120 USD.
With all the news on Bitcoin, there is enough money lying in wait to purchase it at a variety of points. Is it enough to keep it above $250?
The old idiom should work backwards if it's about bad news: Sell on the rumor, buy on the news, right?
Our worst fears are confirmed, 50% of the market is experiencing a collapse and dragging the rest with it. The MSM will make this big, will talk about the bubble of Bitcoin, its imminent collapse and all their I-Told-You-So's. This is normal. On the counter side, there will be arguments for free markets and the restrictiveness of the Chinese marketplace. If any other country follows China's lead, they look dictatorial.
Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Skip to content. Prices. Products. Company. Earn crypto. Get $171+ Sign in. Get started. Price charts Bitcoin price. Bitcoin price (BTC) Add to Watchlist $ 13,070.01 +0.56%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 10:56 AM 3:06 PM 7:17 PM 11:27 PM 3:38 AM ... The first case regarding Bitcoin as a commodity in China led to the Hangzhou Internet Court pronouncing it as virtual property. The court said Bitcoin has value, scarcity, and can be disposed, giving it the necessary attributes of a digital currency with inherent utility. China has been vocally critical of… Historical Bitcoin Price Chart, line chart and candles. Bitcoin Price in USD, Euro, Bitcoin, CNY, GBP, JPY, AUD, CAD, KRW, BRL and ZAR. Generate Interactive Graph. Bitcoin (BTC) current price and Bitcoin details. Existing circulation, market capitalization, volume of transactions and more details of Bitcoin. Coins 6.958 +4. Market Cap $402.472.673.937 0.01%. Volume 24h $111.344.500.400-25.38%. Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our
What's Caused The Sell-Off In Bitcoin's Price? China, Low Buy-Side Liquidity, etc.
Bitcoin Technical Analysis & Bitcoin News Today: Ledger wallets, NordVPN and Tradingview all have big black friday discounts. Also, I'll use technical analysis on the Bitcoin price to make a ... Get $10 of Bitcoin free when you buy Bitcoin here: http://ianbalina.com/sixfigures/coinbase Storing Value from Unstable Currencies Chinese stocks slumped sha... As of early afternoon the Bitcoin price in China had fallen more than 25 per cent on the day to Rmb2,800 ($461) per unit. It has been a rollercoaster ride for the virtual currency, which soared as ... xrp bitcoin price bitcoin crash vechain price prediction cryptocurrency btc eth litecoin ripple cardano cryptocurrency news monero My Website - Learn To Trade Crypto Like A PRO! #bitcoin #crypto #cryptocurrencies Check out today's sponsor, ByBit: https://www.bybit.com/ If you haven't already, visit the link down below to stay up to d...