Quote from: Hamphser on February 12, 2018, 04:05:05 PM

Quote from: Cryptodiscuss on February 12, 2018, 03:53:02 PM

Bitcoin fell 70% from 19500$ peak and negative headlines had wiped out billions in value in cryptocurrencies,
But top U.S. regulators testifying before a Senate committee called for greater oversight, without proposing industry-killing measures.
That was something different from crackdown on crypto that hapened in asia, and created picture of stable asset from Bitcoin.
That news gave enough positive momentum for traders to continue investing in cryptocurrencie market and Bitcoin, and returned more than
100 billion $ back in crypto market, as we can see in the last week.

Something that can give us a little more volatility in price is Chinese New Year celebrations for the Year of the Dog begin in China
and follow across much of Asia, including Hong Kong, Taiwan, Singapore, Malaysia and Indonesia.
Chinese mainland markets are closed Feb. 15-21.

Quiet a shocking scenario which we do least anticipated that billions been taking out on the entire marketcap which do lead up on sudden decline of crypto prices due to these fundamentals but I would say bitcoins price is never been stable but somehow it is on a calm phase where it do moves its price on smaller scales on a short period of time.I do have still the view that after those upcoming events or holidays in Asia price might recover but no one really knows.

Another factor at that time of the year is the capital outflows from China. The Chinese are allowed only a certain amount of money each year (about $10k or so I think) by their government, and they tend to use a lot of this at the beginning. They send that out to USD, gold, houses in Vancouver, etc.

Now that it's the second half of the year and the Yuan is quickly slipping into the abyss, I think they are finding other ways to protect their capital. Bitcoin. That's probably why we've seen that recent bounce in that last few weeks.