(Almost) 4k coins volume in last 24h. On Stamp. On a Tuesday.
Are we sliding into oblivion?
Its not suprising in my eyes that there is a massive lack of volume. We've been in a downtrend for so long now people generally have taken their position and are just waiting for the direction. These are the sorts of times when we can have those $100 days. the problem is now the drift has gone on so long will the $100 day be in opposition to the trend? Once we expect the price to fall, what will it do? |
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zhangweiwu,
Would you say that it is likely that the way this continues with the Chinese exchanges defying the PBOC is, there will be a first arrest/raid of an exchange?
the warrants are probably written, the bullets yet to be paid for i heard that in china, they make the condemned's family pay for da bullet? exactly |
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zhangweiwu,
Would you say that it is likely that the way this continues with the Chinese exchanges defying the PBOC is, there will be a first arrest/raid of an exchange?
the warrants are probably written, the bullets yet to be paid for |
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Anybody notice that its now Monday in China and the exchange volume is drying up?
I think this is what the future looks like folks.
Time for a pump then. |
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People seem to forget that something needs to trigger the price to rise. The price won't shoot up to $1000 out of the blue. The last 'moon' was triggered by the Chinese and we'll need something similar for it to rise again. The stocks of a company won't rise without good news/more publicity etc.
Open your eyes. The best programmers and business people are getting involved with bitcoin projects on a daily basis as of late and part of the problem is that many of them are building offchain solutions. Offchain solutions do not require BTC for the vast majority of their transactions. If bitpay or coinbase have offsetting transactions they are not going to trade coins on the open market. This means transactions on the blockchain and the number of wallets do not need to grow, and the number of coins actually traded onchain does not need to increase - so the value of a BTC does not necessarily have to rise with adoption. |
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The bulls are behind the train trying to push-start it again.
Yeah, this doesn't make sense to me. The "bulls" should already own bitcoin. And its hard to get money into the exchanges, so the "bulls" aren't buying new coins. That's why I think this is short covering. I think shorts were taking profits as quickly as they could. Unlike the rally last week, there is no selling pressure, no dumping. Its like the sell function on Houbi has been turned off. The bulls are still buying and they are bringing new players in the market that buy as well There are 3800 new BTC / day though and daily exchange volume Stamp, Finex and BTCE is still over 25,000 a day. Supply is still being absorbed. And the numbers above ignore any off-exchange trades, such as between secondmarket and the large mining pools. |
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Its like the sell function on Houbi has been turned off.
Thinks. This reminded me to check the Stoch RSI. I forgot about that nifty feature. My biggest question is this: who is going to sell if they can no longer short? Are people actually still on the exchange that are going to want their money out in the form of fiat? I can see people leaving the exchanges by removing their bitcoin. But are people in China going to permanently leave bitcoin, sell and take their fiat away, who have not already done so? And will new mined coins still go to the Chinese exchanges if its difficult to withdrawal? You have to keep in mind that the vast majority of Chinese bitcoin traders are professional shadow currency traders and market makers - they are not bitcoiners. They do not want a long term investment - they want to find somewhere else where they can do their HFT, run their bots, and such. So Bitfinex? Its not a simple proposition to transfer money from mainland China to Hong Kong - the $50,000 personal limit still applies, and there are also rules for corporates. Also one imagines that Bitfinex's KYC process might be rather more rigorous than those employed by Chinese domestic exchanges which might put some of the domestic Chinese off from using them. |
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when will people realise that predicting price is imposible? nobody will ever know how to predict price on independent market, thats the fact. If that would be posible, nobody would ever be on that market for trading. Trading is about hope, no certainty here. People are affected by emotions, they are irrational and so on...
Predicting a given price at a given time accurately is impossible. However, it is clearly possible to understand broad trends and even micro-trends. If you don't understand this then get yourself a book on elementary technical analysis. None of this is rocket science or magic. It's simply about understanding what the trend is and how trends are changing before most other speculators pick up on it. A little bit like forecasting the weather from changes in air density, perhaps. If you know what you are looking for then you can gain a very good idea of what's going to happen in the near future. The weather is part of a complex system, too. But you wouldn't suggest that no one is capable of predicting with a reasonable degree of success whether it's going to rain tomorrow, assuming they're using the right tools? ok tell me than, wise man, will be the price in 1 week from now higher or lower than 450$ ? and please don't compare weather with market, it's not the same (btw, i'm master in finance and i know what you are talking about, but predicting trends for future ? not in BTC market). Oooh a 50/50 coin toss - I will go lower as an emotional hedge. I can be happy if the price has gone up as I own bitcoin and I can be happy if the price has gone down as I was right.  |
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i'm sorry, you think they don't already?
Surely the NSA must control Goldman and the others (or perhaps the other way around)
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or none of the new coins will be sold and large professional miners will seek alternative income sources (say renting hosting space) and hold looking for increases prices in the future reducing the daily supply of new coins to zero.
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Get as many as 5-10% of your savings will buy and put the rest of your savings in other tangible assets, i'll include equity in this description for purposes here. Get a diverse mix, a bunch of stocks, some metals,some real estate, avoid debt instruments if you can. Then invest in more as you accrue more savings trying to keep the balance.
If you are thinking retirement saving never put it all in one place, diversity is important as it lowers your risk and keeps the returns. If Bitcoin does get to $1,000,000 a coin at some stage then $2000 invested now will pay off handsomely - but if it goes there because the USD has become worthless then, real estate may give you a better real return.
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still running on "who cares"
China is not the world - and the rest of us dont give a flying feck what they do with bitcoin
get over it already
More interesting is that a Mastercard Lobbyist just put bitcoin on their list of things to talk about on Capitol Hill. Can you smell their fear.
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just typed it into my terminal
VCCY gives you a Virtual Currency Monitor
It shows the Coinbase and Kraken prices to USD and the Kraken Euro price
(no Bitstamp - yet)
It uses USD per XBT and EUR per XBT
so XBT not BTC
This is not quite the same as having XBT ccy or XBT cmdty , but its a step in the right direction
(for those who dont know ccy and cmdty are short codes in bloomberg for currency and commodity types)
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still "bothered" - you need something besides China to force the crash now.
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Are you basically asking - "Should I stick some really low orders in , in the hope that someone makes a mistake and overloads and exchange with more coins than are currently in the order book?"
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Since the price is currently $440 this represents a 22.72 x return over 3 years or approx. 283% per annum.
This tells me the market thinks there is a very very small chance of this event occurring - if it was probable the price would be a lot higher already.
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still laughing at the idea Gold doesn't lose Value - have you checked out the price of Gold/BTC over the last four years.
Even Gold vs USD might give you an indication that gold can lose purchasing power over the short term. If you have twenty years to wait then ok, but you might have said that in 1980 and cashed out in 2000 with about 60% of what you invested originally.
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Bitcoin is quantum - the moment you look at it , it changes
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peacefully in a timescale that come to pass in the next twenty years? Close to Zero.
Progressive loosening of economic policy to a freer market yes , but democracy don't make me laugh.
Hong Kong doesn't have democracy yet.
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