Chinese Bitcoin Exchange Inspections Cause Price Drop and FUD

4 stars based on 54 reviews

Rather than shilling for Roger Ver go straight to China for your news in English http: Government-controlled fiat digital money are not a true competitors of Bitcoin. I think digitalization will only increase Bitcoin's value, since there will always be people who want to make private and secure transactions. Bitcoin is concentrated behind the Great Firewall of China, most of the bitcoin trading takes place in China, and the price moves based on rumours about the Chinese govt and central bank.

It price reports and tales from chinadizzy bitcoiners pretty centralised to me. I think it is only a matter of time where an alt with better geographic distribution breaks through.

There are hundreds of alts trying and it needs just one to succeed. I think that people think china has much more pull in BTC than it really does. Thier exchange volumes are because of high frequency day traders, maybe half is fake, idk, but not all.

I put down massive volume on huobi compared to my net assets because I can make a million trades locking in small profits along the way and use leverage both directions. I thought I put down a price reports and tales from chinadizzy bitcoiners of volume on Cryptsy trading about 10X my assets for weekly volume, no. On huobi I can put down 10X my asset volume in 1 trade!! And on a focused trading day I do that times. No trading fees ROCK because the way I daytrade I take about 2 stoplosses for every good profit, so it really saves me a lot when I sell right back to the same price I bought at if I decide it didn't go the way I thought it was going to go.

I actually feel MUCH more comfortable using heavy margin off of a smaller account net asset balance that I would using no margin and just trading a larger balance. Because if it price reports and tales from chinadizzy bitcoiners goxsy I only loose the net asset but can trade as if I put much more BTC into the account. Me, I'll use that all balls margin button and risk less to a gox. There is always some reason thought up price reports and tales from chinadizzy bitcoiners why the price crashed, or even a reason that causes the crash.

People don't make money by the price staying the same, and they make even more money when the moves are big and fast. Money was moving into Bitcoin at a fast rate, so some whales decided to short the market and dump. People followed because they got scared. I expect the whales will want a move back up soon enough. I don't think the move actually has anything to do with China.

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