Is it not obvious that without FRESH FIAT (I think I am going to change my user name to this) that these markets cannot go up? And there is no way for fresh fiat to reach the Chinese exchanges.
And if the markets don't go up (and we all should be fully prepared for the market to meander right on past the cross point of this multi-month wedge that everyone's talking about) then the markets are all SITTING DUCKS to bad news coming out of China - like an exchange(s) closing, etc.
Buying here is ridiculous. Shorting isn't a great idea either - although you can often borrow it for almost free, just in case.
I agree with you. But the price could go up if the Chinese realize that they can't get their fiat out of the exchanges (I don't know if this is the case or how likely this is). But in that scenario prices should go up
as they buy b/c. I think we will still follow China (even though they should be irrelevant imo).
I think the point is, how are they going to buy BTC (or keep buying it anyway) if they can't get money into the exchanges?