China just 10% exchange volume

Daily reminder China is only 10% of BTC in exchange volume. The pricefall is nothing more than an emotional overestimation of the Chinese impact on BTC in general.

You all fell for the (((bankers))) and the ---Chincs---

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

when okcoin will announce closure ?

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

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

Ive been saying this for weeks.

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.

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

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.

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

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.

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.

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

Really makes me think retard

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

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

ban*

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.

Nice just bought 100k

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

What does hashrate have to do with anything?

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

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

U FAG user

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

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

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

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

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

It's over.

BIG DUMPS on 19th?

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

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.

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

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.