China just 10% exchange volume...

>>3485274
We don't need China to have a high valued market. Simpletons can't comprehend. China will reintroduce itself in the market by 2018.

We are already down and Okcoin hasnt even gone yet

>>3485315
when okcoin will announce closure ?

>>3485315
Again, over emotional reaction to the news with no mathematical backing.

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>>3485274
Bitfinex alone has larger moving volume than Chinese exchanges. China is more into their own coins. Really tempest in a glass of water.

>>3485274
Ive been saying this for weeks.

>>3485456
Guess you and me will go bullish this weekend. Planning to open 6 rather large orders this weekend. Cash in when everybody grasps the lunacy of the situation.

>>3485437
was hacked all week at bitfinex. glad i had nothing in it! chinks just cant help themselves but steal

>ITT: people don't realize most chinese people use bittrex

All China Exchanges close
Volume decreases
All Chinese go to western exchanges with their BTC
Oversupply of BTC
Forced to sell lower

>>3485474
Unfortunately I was sleeping when it all started so im stuck holding and my cash is tied up as its time for me to buy more gold and silver. This dip should never have been this low and it should have reversed already.

People have panic sold the same rumor 3 or 4 times now. Just goes to show you how fucking dumb the average person of 90 IQ is.

>>3485274
if we dip under 3k i think it will bounce back up duno i think its overreaction atm. i mean.. btcc closed yesterday - ok it dropped the rumor got confirmed.
today viabtc closes - why should i care anymore? xD srsly i fcking know already that chinese exchanges are going to close all together. fuck this information dripping.. fuck china

>>3485522
not right.
All Chinks who want/need CNY sell on their exchanges.
Prices fall in CNY pairs far below USD equivalent (Yesterday the difference was around 30% max).
Whales who have acces to CNY AND USD buy the falling knife on chink exchanges while selling for USD on western Exchanges for a net profit (Arbitrage).

When the chinks are out we should stabilize at least. I am inclined to say there might be a gigantic bounce.

>>3485522
This. Unless China lifts the ban "by the end of the month", an oversaturation of supply will be the direst time for BTC ever.
Besides that, good luck dodging the fake news bursts from the jews AND the Chinese govt. actions for the next two weeks.

>>3485361
>owns 60% of hashrate
>was likely to be the first country to formally recognise BTC, instead bans it

Really makes me think retard

>>3485505
Even if this where true, this would only undermine the base for panic even more.

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>>3485662
It didn't bad BTC but Fiat to BTC exchanges.
Don't you feel like a fool now.

>>3485680
ban*

>>3485505
They would need to buy dollars or get their BTC via a fiat gateway to Bittrex. And anything hosted outside mainland China can me banned within a second due to the Great Firewall. I don't think your average Chinese would risk this.

>>3485274
Nice just bought 100k

>>3485522
>Inb4 MONERO EXPLODES IN RESPONSE TO THE CLOSURE OF BTC CHINESE EXCHANGES.

>>3485662
What does hashrate have to do with anything?

>>3485842
Don't bother the guys doesn't know what's going on.

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>>3485806
All jokes aside there are couple of solid coins you can actually buy 100k of right now and see superb returns.

>>3485274
U FAG ANON

IT WAS OVER 25% LAST MONTH - THE 15% DROP IN DEMAND HAS CRASHED THE PRICE DUMP ASS

THE REMAINING 10 % IS GOING TO ZERO THEN D DAY

daily reminder that the ghost month ends on the 19th

>>3485914
This. Fuck the chinks (me chink too) for not doing business in ghost month

>>3485437
Bitfinex volume is usdt wash trading with tokens they create out of thin air.

>>3486061
Has nothing to do with the value of the volume being moved by the exchange.

>>3485274
>pls HLOD!!!
>i bought bitcoin at 4500 pls dont mak it drop more!!

It's over.

>>3485914
BIG DUMPS on 19th?

>>3486427
Buys, business in slow in the Ghost month. Chinese cultural thing..

>>3486639
Went ahead and spent my metal currency on more ethereum at 202. Can always sell it at the end of the month and by even more gold.

>>3485274
Do you honestly think Chinese btc whales go through Chinese exchanges to sell it $400 cheaper when they can get USD instead?

>>3487164
If Chinese whales are buying and selling btc on foreign exchanges, they dont need to sell low, because they dont give a fuck already.

Volume means nothing. With no/low trading fee you can wash trade with yourself/MM 1000 times of what you own in a single day and still come out a profit, and that's what's happening on Finex, MEX and SK/Japan exchanges, and what has happened in Chinese exchanges last year.