[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y ] [Search | | Home]

BITCOIN DIP OF JANUARY 18

This is a blue board which means that it's for everybody (Safe For Work content only). If you see any adult content, please report it.

Thread replies: 12
Thread images: 2

Bitcoin had another dip today, and once again it was an overreaction to a PBoC oversight announcement, see pic.

Reminder that the Chinese exchanges were heavily inflating their volumes, and that the PBoC is doing great work calling them out on it.

Things are looking very good.
>>
Ways in which the Chinese exchanges were inflating their volumes:

1) zero fees
2) volume incentives (transferring your own bitcoins back and forth to create empty volume was rewarded)
3) crazy leverages

Because of this, well over 95% of volume was Chinese, despite only a third of all bitcoins being in Chinese hands according to Chinese estimates.
This bs is now ending, thanks to PBoC.
>>
Also note that these PBoC panic dips keep getting smaller after every announcement.

-January 5 PBoC announcement ("we will implement oversight"): drop of about $ 340 over three days.

-January 11 PBoC announcement ("this leverage is bs"): drop of about $ 150 over two days.

-January 18 PBoC announcement (see OP pic): drop of about $ 35 (so far).
>>
>Gee great info, OP!

Th-thanks

;_____;
>>
>cope: the thread
>>
So would it be wise to invest some money in bitcoin while it's going down, and hope it goes back up?

Or is bitcoin just not going to be worth the time at this point?
>>
>>1741741
A correction was coming anyway after the tremendous growth end of last year, but the PBoC announcements caused it to hit prematurely.

The advantage is that trading should be a lot healthier now that the Chinese volume thing is clearing up.

So far bitcoin could still very well be in an uptrend.
>>
File: c005.jpg (135KB, 685x1075px) Image search: [iqdb] [SauceNao] [Google]
c005.jpg
135KB, 685x1075px
>>1741758
Hm. Maybe i'll invest in it then. I might just[spoiler] flip a coin[/spoiler]

I'll make 5 dollars become 500 dollars! and 500 to 5,000! [spoiler]and then lose it all when the nuclear apocalypse hits and money is useless[/spoiler]
>>
>>1740953
Bitcoin deth imminent.

You rode the Chinese pump now it is ded.

Snowflakes in denial.

Volume ded.

Let it sink in a bit.

It will be a race to the bottom.
>>
>>1740979
>-January 18 PBoC announcement (see OP pic): drop of about $ 35 (so far).

Aaaaand the entire January 18 dip was been completely reversed only half a day later.

It's fair to say that the negative effect of this PBoC oversight on the bitcoin market is waning.

Which is fantastic, since the PBoC measures have been VERY helpful towards cutting through the fake Chinese volumes.
>>
>>1741711
Thanks OP!!! really informative
>>
>>1740953
2000 BY END OF THIS WEEK

INCOMING NOCOINER COPE TEARS
Thread posts: 12
Thread images: 2


[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y] [Search | Top | Home]
Please support this website by donating Bitcoins to 16mKtbZiwW52BLkibtCr8jUg2KVUMTxVQ5
If a post contains copyrighted or illegal content, please click on that post's [Report] button and fill out a post removal request
All trademarks and copyrights on this page are owned by their respective parties. Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the content originated from that site. This means that 4Archive shows an archive of their content. If you need information for a Poster - contact them.