An analysis: Bid & Ask Sums on BTC exchanges. Conclusion: no demand for BTC

[balu2]

Good thread. Thanks for posting.

[waaat?]

Someone call the Winkiveii, they need to pump it together with Gavin, Bobsurplus, Elwar and the other 3 fanboys.

Put a bullbot on it like on zetacoin to maintain marketcap with no liquidity, else it looks bad.

[NotHatinJustTrollin]

UPDATE:




Overall, bid sum on all exchanges didn't change much, Huobi had a little increase lately to a little more than 20 million CNY but decreased soon after to return to the low levels seen in January. The final result is a slight increase in bids but accompanied by an increase in asks anyway, overall very low amounts of fiat sitting on Huobi compared to August 2014 for example.
BTCChina shows no particular difference in bids, the asks have seen a decrease but no new money hitting the exchange.
BTC-E shows a slight increase in bids lately but that is accompanied by an increase in asks too, the bid/ask ratio is very low.
Bitstamp bid sum has been decreasing lately and is now staying at low levels, for example compared to August, same situation as Huobi.
Bitfinex doesn't show any difference as already explained in my first post in this thread.

interestingly, COINBASE shows a slight increase in asks but very low amounts of money sitting on the exchange, and near the lowest levels since the regulated exchange has opened. Contrary to some expectations here, the exchange is not witnessing an influx of new money for now.

[fonzie]

UPDATE:




Overall, bid sum on all exchanges didn't change much, Huobi had a little increase lately to a little more than 20 million CNY but decreased soon after to return to the low levels seen in January. The final result is a slight increase in bids but accompanied by an increase in asks anyway, overall very low amounts of fiat sitting on Huobi compared to August 2014 for example.
BTCChina shows no particular difference in bids, the asks have seen a decrease but no new money hitting the exchange.
BTC-E shows a slight increase in bids lately but that is accompanied by an increase in asks too, the bid/ask ratio is very low.
Bitstamp bid sum has been decreasing lately and is now staying at low levels, for example compared to August, same situation as Huobi.
Bitfinex doesn't show any difference as already explained in my first post in this thread.

interestingly, COINBASE shows a slight increase in asks but very low amounts of money sitting on the exchange, and near the lowest levels since the regulated exchange has opened. Contrary to some expectations here, the exchange is not witnessing an influx of new money.

HOLY SHIT! I wonder how long triple digits will hold? This looks terrible.

[NotHatinJustTrollin]

UPDATE:






Huobi:
Bid sum almost halved since I last posted in this thread, from around 17-20M CNY to around 10M CNY. Generally, still very low levels compared to anything seen months ago as you can see by the pic.
Bid/ask ratio is around the lowest seen in ages.

BTCChina:
Generally still low levels, but to be fair it slightly increased. Not by much though.
From 6-7M CNY to 8M CNY.

Coinbase:
Bid sum is low in absolute terms, is stays around $1M-$1.5M range, increased a little and fluctuating but still in this low range.

Bitfinex:
Nothing interesting as always, see my first post for more info on why.

BTC-E:
Bid sum stayed around the same levels, it fluctuated a little but overall we don’t see any big increase or decrease.
Since the bottom it slightly increased but it still way below levels seen since January 2015.


Bitstamp:
Still very low bid sum, after the hack fuckery it stabilized at the lowest levels seen all throughout September-December 2014.


As a general trend, bid/ask ratio is stabilizing around the lowest levels ever compared to anything seen in 2014 in all exchanges.



Again, there is no indication that new money is flowing in exchanges. Demand seems to not pick up for now.











All other exchanges at various time frames:
http://coinsight.org/

[ajareselde]

From what i can see, the demand is flatlined for some time now, and there is no sane reason why the price should stay at this level, or increase. The only thing i think is that were diving down, atlease 15%.
Its bullish to say anything but..
I usually analyse bitcoin sites traffic, predicting prices that way, worked well for me so far, so ill stick to that.

cheers

[NotHatinJustTrollin]

I want to add one thing you should consider. The most flagrant difference in Bid Sum:


On Huobi, around the 10th of January (before the big crash) price was only around 15% higher than was it is now, yet the Bid Sum was 2.5 times higher than what it is now.
See for yourselves:

[damiano]

From what i can see, the demand is flatlined for some time now, and there is no sane reason why the price should stay at this level, or increase. The only thing i think is that were diving down, atlease 15%.
Its bullish to say anything but..
I usually analyse bitcoin sites traffic, predicting prices that way, worked well for me so far, so ill stick to that.

cheers

Which puts us in the area of 200-210 depending on the price fluxuations