3k coins of "real" volume has an outsize effect. edit: about $500k in BFX borrowed USD closed around this time
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I highly doubt there will ever be a short squeeze.
The amount of BTC swap is low, and we don't know what price they sold the BTC at? It could of been at $1100 USD.
I also think a large portion of these BTC shorts is simply mining farms trying to get a future price for their mining revenues for the next few months.
Long squeeze is a different story.
We know about 5k were borrowed and (very likely) dumped around 315-320, probably in an effort to trigger a reversal. Your point about mining farm hedging is a good one, and I agree that $24.5mil in longs dwarfs 20k borrowed btc.
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chinaman will pull his gambit tonight or one of these days anyway.
It appears China gives no fucks about Shitstamp bears. neither do we give a shit about china. hence 30 $ difference. now go back to your shithole in china. how did your 258 short work out btw? I sold for 258 and then borrowed that cash, and waited good entry point for shorts. I even bought something after passing 275. if I were for real to open shorts there I would not have worried too much, cause I know that bitcoin makes those crazy p&d swings. we will be back there in no time. even those positions will be profitable soon. Gotta love those profitable imaginary positions. Well, congrats on (totally not imaginarily) going long and making some gains during this rally.
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~Taps lightly on volumizer~
Is this thing on?
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~Taps lightly on volumizer~
Is this thing on?
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Of course XT was a factor in the drag down. Not because it simply existed, but because it highlighted a major impediment to growing the network. I fully expect core will be compelled to do something in jan 2016, if not, it means they have been captured by (not so hard to discern) external forces.
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correction time? maybe monday morning in Beijing will be fun.
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Higher lows, lower highs, oh my, something gonna give.
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$20+ spread between western and Chinese exchanges now... why isn't this being arbed?
You got a quick and cheap way to convert CNY to USD? Just sell on the CNY markets and buy in USD. Convert later. That's almost-arbing while establishing a growing long position in CNY.
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$20+ spread between western and Chinese exchanges now... why isn't this being arbed?
You got a quick and cheap way to convert CNY to USD?
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Looks like they're not seeing the mystery candles for 10-80k coins happening in china with clockwork regularity, nor the repeating orders on bitstamp that barely move the price, nor the complete dearth of action in the intervening periods.
To use raw volume numbers reported by the unregulated exchanges as the sole basis for a trade sounds to be something other than "experienced".
Exhibit H: There is something unnatural about this picture. Your guru ended up being correct, but they used a somewhat tainted indicator.
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Looks like they're not seeing the mystery candles for 10-80k coins happening in china with clockwork regularity, nor the repeating orders on bitstamp that barely move the price, nor the complete dearth of action in the intervening periods. To use raw volume numbers reported by the unregulated exchanges as the sole basis for a trade sounds to be something other than "experienced". thanks for the tip seems he did a good pick https://btctrading.wordpress.com/2015/10/29/long-term-update-at-resistance-2/Correlation does not quite equal causation. In this case, it does appear they are very related, to what degree and via which vector... well, that remains to be seen.
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F8ck. Another crack hit of healthy, organic growth Quick to point to split second timing of shitcoin pumps with a supposed ballerina exit, yet treats btc like a gilted lover... such an enigma.
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Dear God keep me humble as I watch this relentless train bring me all the wealth and power I have ever dreamed of.... Too late.
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Refill! Stat!
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