Arbusers

Agree with everything you wrote but I would think of some investment speculative syndicates  behind it (like betting syndicates indeed) rather than the action of the state. Not because the state would be “above” such action but because it just seems too small for them to get involved.

At the top of the chart is price history.
At the bottom of the chart is historical volume.
It seems as of late they can be bothered with it.

http://imgur.com/a/vCdxh

this bitcoin is really crazy, sometime in October 2016, i brother asked me to buy for him and i bought 6000 dollar worth of coin at 608 dollars per coin. Today the price is worth like 1180 dollars per coin.
Very funny, wonder if it will go down

$1100 per coin congrats on your gain!

Looks like there will be a new price high today if things keep trending upwards..

Ya that was a fun day!
Chinese made an all time high.
Fun 2 watch.

What 's happening today?? Maybe someone could explain to me....it's crazyyy

nothing new happening, just seeing bitcoin getting slammed up and down, i believe because its market cap is still very small.
Hopefully as it grows it will be more resilient to whales buying and dumping

People need to stop thinking that if the price goes up that it was because of the "chinese"... sure governments are invested in multiple currencies but they alone don't control the prices on the market.. my guess is that most of the bitcoin holders were happy to sell off at or around 1000 usd.. I want bitcoin to rise as high as possible... but my guess of reaching 800 by March is still in play...

Its a great idea, but the fact you can be wiped out without any protection, safeguards etc puts me off using it.

Saying that if I were living in a country that restricted access to betting sites etc I would probably take the plunge and risks.

Offshore Insider wrote: People need to stop thinking that if the price goes up that it was because of the "chinese"... sure governments are invested in multiple currencies but they alone don't control the prices on the market.. my guess is that most of the bitcoin holders were happy to sell off at or around 1000 usd.. I want bitcoin to rise as high as possible... but my guess of reaching 800 by March is still in play...

Have you checked out where trading volume is coming from?
When 90+% comes from a certain area (China) who is moving the price?
The 1 guy in Pakistan buying 0.00012 of a btc?
Have you checked how Chinese BTC historical price charts have moved against price charts in other regions?
I'm guessing the answer is no.

dealer wins wrote: Its a great idea, but the fact you can be wiped out without any protection, safeguards etc puts me off using it.

Saying that if I were living in a country that restricted access to betting sites etc I would probably take the plunge and risks.

Bingo! I live in one of those countries... and there are actual safeguards that the bookmakers within our market use to protect the bettor from price fluctuations. Some not all, convert btc to the currency of your choice. So no longer must you gamble on the games alongside the price of btc. It does have it's drawbacks tho... as some places may value btc at a different price than what the market suggest. Usually the price is off a few bucks... a price worth paying for those not willing to go along for the btc ride.

RoosterDonky wrote:

Offshore Insider wrote: People need to stop thinking that if the price goes up that it was because of the "chinese"... sure governments are invested in multiple currencies but they alone don't control the prices on the market.. my guess is that most of the bitcoin holders were happy to sell off at or around 1000 usd.. I want bitcoin to rise as high as possible... but my guess of reaching 800 by March is still in play...

Have you checked out where trading volume is coming from?
When 90+% comes from a certain area (China) who is moving the price?
The 1 guy in Pakistan buying 0.00012 of a btc?
Have you checked how Chinese BTC historical price charts have moved against price charts in other regions?
I'm guessing the answer is no.

The answer is Yes..... sir... what I said in my initial post was that there are other factors involved in the price fluctuation... not only the "Chinese" ... and that guy from Pakistan is a wise man investing in btc!!!

Offshore Insider wrote: People need to stop thinking that if the price goes up that it was because of the "chinese"... sure governments are invested in multiple currencies but they alone don't control the prices on the market.. my guess is that most of the bitcoin holders were happy to sell off at or around 1000 usd.. I want bitcoin to rise as high as possible... but my guess of reaching 800 by March is still in play...

"The answer is Yes..... sir... what I said in my initial post was that there are other factors involved in the price fluctuation... not only the "Chinese" ... and that guy from Pakistan is a wise man investing in btc!!!"

LOL yes that man in Pakistan is wise.

Yes, there are other factors but what I am saying is the volume created by those other factors pales in comparison to Chinese volume and thus wouldn't of had a 23% impact on the price.
90+% of the volume is Chinese done in their currency.
So a 1k USD price tag means next to nothing to them when their market is making new highs.
Are they concerned with how less than 10% volume priced in a different currency is going to turn because it hit 4 digits in a different currency?
Probably not.
If it did, the price in USD wouldn't of gotten to $1100 plus and people would of sold off at the 4 digit mark the day it happened.
Are there going to be dips or as I call buying opportunities, yes.
23% dips because a small amount of people decided to profit take, no.

Now it did hit an ATH on their market (in their currency) (not on ours) so you could argue that some profit taking may of happened then.
You can also argue that a spike in the Yuan made them less likely to continue to buy more BTC and made the more likely to book profits.
You could also argue that some of the trading may of been done on margin thus creating a demand for people to cover their positions.
It would of taken all 3 to occur simultaneously and it wouldn't (imo) come close to causing a 23% loss for BTC.

http://www.coindesk.com/bitcoin-price-rollercoaster-2017-heres-missed/


But in my opinion the best argument is that alot of shorts entered the market.......

https://bfxdata.com/swaphistory/totals.php


I obv want BTC to rise also, long term it's gonna be a kick ass year (I'm hoping for 2-2.5k btc) because things aren't getting better out there...

1. EU countries in financial trouble.
2. Non EU countries having trouble with debt… Puerto Rico and Venezuela….
3. India banning 85% of its currency and limiting gold ownership (18% world population).
4. Countries demonetizing their currency.
5. Markets having slowdowns ever 8-10 yrs. on average means a slowdown is near.
6. Countries with negative bond yield rates.
7. Bank Bail ins.


and much more..

I don't see it going back down to $800 unless the great short causes fear and panic out there.
It already rebounded nicely and has a couple support zones at $ 920 ish and $950 thus recovering 40% of the losses from the low of the day.

$85 ish off from my predicted price of $800 by March...I think the selling will continue. I would recommend not to buy now and wait for 800 or BETTER.....