CHINKS ARE PUMPING UP ETH AND BTC AND ARE GOING TO GOING TO HAVE A MASSIVE SELLOFF ONCE THE CRYPTO WITHDRAWAL BAN IS...

That's the million dollar question. Personally I think so because the two are practically identical lately but then again ETH seems to have been just recently breaking free from BTC's pattern. This could just be a massive pump for the potential selloff, though. Keep an eye out is all I'm saying.

Eth is a pump and dunp

So what you're telling me is buy more ETH until then

so you're telling me that the chinese, who are unable to sell crytpo right now, are buying in large amounts so that they can sell off once the ban is lifted?

Sure if you can get in and out quickly. Not of you're buying on coinbase with week long transaction times.

You are wrong

What are they going to sell off into, their meme domestic currency?

They can sell crypto, they just can't withdraw CNY, but they don't want CNY anyway, so the OP is full of shit as usual

What can China do? That ban ain't lifting by the 7th

That corrected 2 days later? The chinese into bitcoin are already trading in Japan.

The chinese don't invest in bitcoin to cash out, they invest in bitcoin so the government cant fucking seize it you spaz.

but how can this ban be only on bitcoin? couldn't they convert to any other currency and withdraw for example?

Eth is a stupid pump and dump

>On 7 January 2017, the People's Bank of China announced it would carry out inspections at major bitcoin exchanges looking for a possible breach of current financial regulations. The news resulted in a collapse of bitcoin price, which lost 20% in one day.

lol use a debit card shithead

Fuck this let me just give you guys one tip: This unfreezing, if anything, will INCREASE price. I can't be fucked writing yet another quick rundown on why, use fucking google and have a look at the situation in china.

> they invest in bitcoin so the government cant fucking seize it you spaz
>governments freezes withdraws effectively holding it hostage

What do you think happens when the freeze is withdrawn? They'll leave it parked on exchanges where it can be frozen at any time?

Eth is useless fake money. Being dumped soon. Currently in dead cat bounce

You're a fool if you don't cash in on this hype before the inevitable correction. You may miss 10%, but you risk 40%

>I can't be fucked writing yet another quick rundown
Please do a super quick one, it's so horribly difficult to find info on this whole China matter.

This user gets it. They'll move it somewhere else now that they know that their money isn't safe on Chinese exchanges.

No they'll move it to exchanges in korea and japan where it won't get frozen.

You think they want to cash out large sums of money into CNY, then their official bank account? This is what you believe?

OK user, let me grab a cuppa

No, if anything they'll park it away and a huge chunk of volume is completely removed from the market.
You also need to remember that while they've still been able to trade on the exchange, they haven't been able to realise any profits from the recent pumps. It's all well and good to look at how many BTC you have all day, but eventually they're going to actually want to cash some of that out.

Thank you

Should i go on omegle and set language to chink and ask some chinks if they're gonna withdraw?

Removing large amounts of coin from the market will just cause the price to increase further.

Them moving it into safer countries allows them to then exchange to fiat in said countries if they wish to bank accounts or businesses they own.

The exact same way they funnel money out to buy up and park money into the real estate in Sydney and Toronto.

As long as the government has no ability to acquire their wealth I don't think they give a shit where it is or what form its in.