Post
Topic
Board Bitcoin Discussion
Re: CEO of BTC China speaking to CNBC
by
Piper67
on 18/12/2013, 15:57:24 UTC
These charts show that the selling is no where near as high as the crash back in April.

http://coinregulations.com/ban-on-btc-china-taking-cash-payments-causes-bump-in-the-road/

Also, the ratio of sellers to buyers is more balanced. This talks to the increased popularity of bitcoin around the world, which is good news. Having one or two countries dominating the landscape is bad news as it causes negative spikes like we are seeing when regulators throw their toys out of the pram.

The more people around the world that use it, the greater the price stability, and it almost goes without saying that there will be greater demand keeping prices rising due to scarcity of supply.

Bitcoin just went on sale for a few weeks, thats all.



nice chart, glad I saw this!

The numbers are extremely deceiving.  The primary catalyst in the April crash was the fact that everyone used the same exchange, MT Gox, and the system crashed during the sell-off.  People could not put in orders.  If they did put in orders, the lag was literally up to an hour.

Which, if anything, would support the view that this crash isn't as volume intensive.