Post
Topic
Board Economics
Re: What will happen 9th march ?
by
Betwrong
on 22/02/2017, 08:02:15 UTC
Hello,
Do you have any ideas what can happen with bitcoin value after the biggest china exchange will make btc withdraws again possible after 30 days suspended in 9th march ?

It will be a positive as people will be comfortable about buying bitcoins and withdrawing them. It will be a return to business as usual.
But the date to watch is 2 days later, when a decision on the Bitcoin ETF will be taken.

I doubt anything positive will happen on both Chinese withdrawal issue and the BTC ETF's approval. This is what I think. Days before March 9 the Chinese exchanges will release statements saying that they will extend the ban on cryptocurrency withdrawals due to complications with the PBOC.

2 days later the BTC ETF's application will be denied. Hopefully nothing of both will affect the price of BTC.

If everything will happen like you said then I agree with you that hopefully, and most likely, it won't affect the price of BTC. We can expect such a scenario because we are in this situation for a while and the price of BTC ... well, not falling, that's for sure.

But if at least one of the above will have a positive outcome then the price of BTC might start rising.