Bitcoin price drops following report that China is going to shut down local exchanges

Discussion in 'Latest News In The Bodybuilding World' started by NavyChief, Sep 9, 2017.

  1. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
    122
    31
    glad to see that it stayed up! Im not too much in the know about BTC and crypto market prices. I dabbled in the exchange a little bit for the hell of it earlier. I bought a minimal amount of XRP when i had a few bitcoins to play with in binance. I cant remember what price I got the XRP at but it was fairly new to the market, I think it was like $0.10 or $0.13 at the time.
     
    sityslicker1 and BLTC like this.
  2. Bigtex

    Bigtex VIP Member

    Aug 14, 2012
    57
    40
    Not so sure the Chinese markets have much effect on the rest of the world any more. Most all crypto currency had a good day Friday and the 7 day gains were all pretty positive. Hope this continues as the stock markets had a good week too.

    https://coincheckup.com
     
  3. FlyingDragon

    FlyingDragon VIP Member

    Nov 4, 2010
    3,065
    1,371
    A pretty silly statement....China has a huge impact in the global markets.....
     
    BLTC likes this.
  4. Bigtex

    Bigtex VIP Member

    Aug 14, 2012
    57
    40
    So why is our stockmarket up,cryptos are up and the Chinese markets down? Not trying to be a smart ass or call your statement silly but please explain why this is happening?

    Cryptos have not been performing as well as they were but the last few weeks they are making gains. My stocks have been doing very well.
     
  5. Bigtex

    Bigtex VIP Member

    Aug 14, 2012
    57
    40
  6. FlyingDragon

    FlyingDragon VIP Member

    Nov 4, 2010
    3,065
    1,371
    For one the Crypto space is relatively new, thus u will have price swings. You can go back and look at when China prohibited bitcoin the market reacted in a downward swing. So much for China not having an impact.

    The stock market performance in China is the result of very lax lending practices the past 5 years.

    Markets are complex, but to claim the 2nd largest economy in the world is irrelevant is a silly statement to make.
     
    BLTC likes this.
  7. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
    122
    31
    I just wish I had taken the $200 when it was worth like $800 someone offered me years ago when i 1st heard about it and thought...nah fuk that. then i see its close to 16K when i paid attention to it. but then again..id have likely sold the BTC shortly after to get cash.

    crypto is interesting at the finest
     
  8. BLTC

    BLTC VIP Member

    Dec 23, 2010
    555
    83
    especially crypto. The top 3 btc miners are located in china
     
  9. FlyingDragon

    FlyingDragon VIP Member

    Nov 4, 2010
    3,065
    1,371
    One could conclude the markets that have been in decline all year could signal a buying opportunity. And the US markets as being 2 expensive to get into....
     
    BLTC likes this.
  10. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
    122
    31
    So I guess the new question is...where will the price go now
     
  11. BLTC

    BLTC VIP Member

    Dec 23, 2010
    555
    83
    All assets are being sold at this point except for US treasuries. Too much uncertainty with China after Canada started taking hostages (Huawei exec) at our behest. This could get a WHOLE lot worse before it gets better. IMHO potus better so something positive and fast or people's 401k's could be halved by early 2019.

    The sad reality for DA's is the same groups that are selling out of equities are also raising cash from the DA space as well so expect to see further weakness there. With Bakkt pushing to Jan and maybe even further I'm not expecting much of a spec rally at all in 2018. 2019 will most likely reflect what's currently going on in the other asset classes until Nasdaq/Bakkt/Fidelity/ERISx open and start adding currency pairs in 2Q2019.

    IMHO....XRP remains the clear winner as it will benefit from the new exchanges in addition to the huge payment companies SBI and R3-Corda also going on line in 1Q2019. We already saw what XRP did a month ago going from .27-.80 when the volume shot up by 10X for those 3 days. That's just a small preview of what's to come......
     
  12. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
    122
    31
    yeah you got a lot more indepth knowledge than I do on the matter lolz. Amazing to watch that commodity go from nothing to almost 20 back down to where it is at today. Sadly I wanted to get a few things which only accept BTC and was just hoping it would raise just enough to get over that thresh without having to get a little bit more, more than expected since it continually seems to be on the decline in value. I have minimal XRP when it opened but nothing worth while
     

Share This Page