China volume last 24 hours

[doublemore]

Pretty insane volume even by china standards, over 1 mil BTC traded global over last 24 hours

[doublemore]

Am i the only one who think china exchange just raised their fake volume trading?
I think they did it because they saw other exchange's volume raised & saw bitcoin price raising up.

I can't believe china exchange's volume at all

If so of the volume is fake the overall volume is higher than normal, they are excited about or trying to push something.  Can only be positive.

[prodigy8]

It can be true but it can be also fake because they need to make profit.
We know that china has the largest bitcoin mining farms and maybe all wanted to trade at the same time.
They need to pump the price to make good profit so who knows what is happening there.

[randy8777]

okcoin and huobi volumes are obviously fake. don't think there is any reason for them to generate a week worth of volume in just 1 day. it's just ridiculous.

[BitMaxz]

Oh men in one day china is more shares than the other. China has a largest mining of bitcoin. maybe he share some profit. china has low electric current cost...

[tarmi]

yeap, classic bs from china. If I were to guess I would say that exchange operators took big and high interest BTC loans from big mining entities* and now are trading back and forth.

Complete bs with shadow books and orders.

Also, they want to keep the price as high as possible for the auction. No cheap coins for new entities in the system.



*look for ones that are selling new mining gear.

[pooya87]

Am i the only one who think china exchange just raised their fake volume trading?
I think they did it because they saw other exchange's volume raised & saw bitcoin price raising up.

I can't believe china exchange's volume at all

there is always the possibility of all kinds of shenanigans going on in the exchangers. but this time it might be because of the recent price rise, maybe they are preparing for a bigger rise in the future.

on the other hand there always was talk about bitcoin regulation in china maybe something is about to actually happen now.

[tarmi]

Karpeles at least had the decency to fabricate gox accounts, make the orderbook/buys visible. Chinaman does not give a fuck.

All the trades and buying are off the book.

[Dilla]

Yet people say Gemini has controlled the price recently..

[gentlemand]

Yet people say Gemini has controlled the price recently..

It's going to be a long old time before that happens but perhaps one day it will be the daddy. It may be run by douches in deck shoes but that's preferable to some weirdo in a Chinese tower block deciding to crank up the volume dial because it gives him a semi.

[dothebeats]

Another fake volume bs from Chinese exchanges. How come they are able to generate such volume in a short span of time? I doubt that there is that much action going on in the Chinese scene. If so, we should be seeing an increase by now.

[Dilla]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

[SnokkomBTC]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

Willy Bot 2.0 !! 

[Dilla]

Wouldn't surprise me...

[Amph]

Yet people say Gemini has controlled the price recently..

i think they were referring to the hype around it, not certainly the volume

i'm surprised that bit-x is in top 10, i didn't expect it to be so popular, that's good

[pereira4]

It can be true but it can be also fake because they need to make profit.
We know that china has the largest bitcoin mining farms and maybe all wanted to trade at the same time.
They need to pump the price to make good profit so who knows what is happening there.

Well this should be fairly easy to see. I think that exchanges have certain recognizable patterns or used to. Maybe they have improved it but last time I checked they had addresses that repeated, so it would be a matter of making a sum of all the inputs. Anyway if it's real it's a shitton of money, it's a bit hard to believe that 1 million BTC got moved in a day, but maybe whales are starting to take positions for the next rally.

[Hunyadi]

[Mickeyb]

Well in all honesty, nobody can know this for sure! Since they don't charge any trading fees, they are pretty much allowed to do whatever they want. There are surely some bots deployed, but how much are they faking, that only know the exchange operators!

[svein]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

halving pump starting to take form?

[Dilla]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

halving pump starting to take form?

I think it's too early, but who knows, everyone may be trying to get in sooner/cheaper than the next guy.

[ssmc2]

We know what that can quickly lead to...


FOMO!

[Dilla]

We know what that can quickly lead to...


FOMO!

Imagine if all those institutions that were waiting for Gemini, like the Winklvii said, actually start a FOMO train, things could get wild.
Not probable, given the past two years of disappointment, but plausible.

[pooya87]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

halving pump starting to take form?

hmm.
i think it is way too soon for that. mostly people would accumulate at low prices and try not to push the price up to be able to get their hands on cheaper coins.
the effects are going to start at least at the beginning of next year.

[lexuz]

Pretty insane volume even by china standards, over 1 mil BTC traded global over last 24 hours

positive way has show in china market last day and i think it will increase again. maybe volume can touch over 2 mil trade in this week

We will see bitcoin to da moon

[toinew]

is that a bad news ? 

[1Referee]

is that a bad news ? 

Not really. It's more pathetic. I always consider Chinese exchanges volumes 10x lower than what they are. If they have a 24 hour volume of 500,000BTC I simply count it as 50,000BTC volume.

[doublemore]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

Willy Bot 2.0 !! 

If they can do it let um do it imo, shows what great opportunity there is in this market for bigger players to come in and control it.

[trinaldao]

Huobi market provide flexibility to you to borrow 3 times that of the total your balance, also he give 0% fee trade

I think chinese market is fake volume

[RealMalatesta]

is that a bad news ? 

Not really. It's more pathetic. I always consider Chinese exchanges volumes 10x lower than what they are. If they have a 24 hour volume of 500,000BTC I simply count it as 50,000BTC volume.

If this would be the case, the volume still would be impressive.

[mexxer-2]

You do know that china has ridiculously low fees right? They just shift the btc back and forth to make it seem as they are active.

[trinaldao]

You do know that china has ridiculously low fees right? They just shift the btc back and forth to make it seem as they are active.

Trader chinese make sell and buy with his self
So we should'nt calculate trading volume feom chinese market

[randy8777]

You do know that china has ridiculously low fees right? They just shift the btc back and forth to make it seem as they are active.

Trader chinese make sell and buy with his self
So we should'nt calculate trading volume feom chinese market

china has been known for their volume manipulation. it's nothing new, but people still get stunned when they see their beyond insane fake volumes.

[Omikifuse]

We are increasing... Volume goes both ways, buys and sells, right now, we have been having more buys;steady increase

Willy Bot 2.0 !! 

Willy bot 3.0, the 2.0 version was used by the chinese to drive the prices as low as possible.

And I think the chinese had more influence in the Gox bubble than the Willy bot itself, but I have no proof

[Amph]

is that a bad news ?  

Not really. It's more pathetic. I always consider Chinese exchanges volumes 10x lower than what they are. If they have a 24 hour volume of 500,000BTC I simply count it as 50,000BTC volume.

If this would be the case, the volume still would be impressive.

well 60% of miner are probably dumping their coins there causing the volume to increase(after a month you have 1800 x 30 = 54000 coins dumped, which is a big amount) more than any other exchange, it should explain it, even if we count the fake volume

[solid12345]

Willy bot 3.0, the 2.0 version was used by the chinese to drive the prices as low as possible.

And I think the chinese had more influence in the Gox bubble than the Willy bot itself, but I have no proof

If you consider logarithmic charts as a valid method of predicting future price, in theory Bitcoin should have made its massive rise in late 2013 regardless of the Willy bot.

I still say the effects/blame of the bot is overrated, ALL markets are manipulated to some degree, the excuse is "Well, Gox was making up 70% of the Bitcoin volume so it was easy to manipulate...", well guess what, all securities exchange on NASDAQ or the DOW are traded 100% there exclusively too, how easy do you think those are to control?

Did anyone see the massive red stick on Wal-mart's chart the other day? There is no way that wasn't influenced by one whale dumping & setting the chain in motion. But even with these whales making big moves it still takes hundreds of thousands, millions even of little fishies to be buying to make it work and sustain itself for months like the Bitcoin bubble. There were MANY people buying Bitcoin in the $1,000 range and they believed it at the time to be the price it was worth. Of course we saw the price drop later due to market fears over potential China Bitcoin ban, Gox's collapse, etc.

Personally i'm praying this is the start of the next bubble because I believe this time it won't fizzle out so quick now that we have more legit exchanges and individuals in control of Bitcoins destiny now.

[pliv84]

Something is definitely going on in China. FiatLeak.com is going crazy:

http://fiatleak.com

Watching it for all of 3 minutes, 77 bitcoins flowed into the US, while 780 bitcoins flowed into China! And, it's the middle of the night there.

I wonder what is going on. Certainly hope this is the start of the next bubble : )

[solid12345]

Something is definitely going on in China. FiatLeak.com is going crazy:

http://fiatleak.com

Watching it for all of 3 minutes, 77 bitcoins flowed into the US, while 780 bitcoins flowed into China! And, it's the middle of the night there.

I wonder what is going on. Certainly hope this is the start of the next bubble : )

What would be ironic is instead of crypto being a liberator of humanity, the Chinese government was prepping to use Bitcoin as a base for their "citizen scoring" system they are developing!

[RKing]

is that a bad news ?  

Not really. It's more pathetic. I always consider Chinese exchanges volumes 10x lower than what they are. If they have a 24 hour volume of 500,000BTC I simply count it as 50,000BTC volume.

If this would be the case, the volume still would be impressive.

well 60% of miner are probably dumping their coins there causing the volume to increase(after a month you have 1800 x 30 = 54000 coins dumped, which is a big amount) more than any other exchange, it should explain it, even if we count the fake volume

The daily mined coins are only 3600, way below the 1.0 million volume in the first two Chinese exchanges.

When the transaction fee is 0%, the volume is suspicious.

[Fontas Returns]

I think this is driven by loss of confidence in the yuan more than Americans/westerners realize. Americans are still addicted to their delusions of a "strong dollar". It's hard for them to imagine the threat of their fiat going to shit. That's still out on the horizon for Americans, but for china, that reality is upon them. Think about it, if you had a couple million Yuan laying around would you want to be holding that bag right now?

[RealMalatesta]

I think this is driven by loss of confidence in the yuan more than Americans/westerners realize. Americans are still addicted to their delusions of a "strong dollar". It's hard for them to imagine the threat of their fiat going to shit. That's still out on the horizon for Americans, but for china, that reality is upon them. Think about it, if you had a couple million Yuan laying around would you want to be holding that bag right now?

Most currencies are per today a mere illusion of value. But it is sometimes really funny when I have guests from the US in Europe. They come here with an attitude like in the 60s and think that the USD still is a currency with a high value - basically the center of the currencies universe. One waitress said it like this when a friend asked if he could pay with USD: "Keep your Mickey-Mouse-Money and pay with a real currency."

[RKing]

The centre of currency will be bitcoin in a few decades. But we have to work hard to achieve that. Let's use bitcoin.

[doublemore]

In other interesting volume news, bitfinex is now back way above bitstamp.... wow that didnt take long, i called it not long ago but didnt expect it this quick!

[1Referee]

In other interesting volume news, bitfinex is now back way above bitstamp.... wow that didnt take long, i called it not long ago but didnt expect it this quick!

Bitfinex right now has 10KBTC more volume than Bitstamp, which is quite normal if you ask me since it is a larger exchange. A whale buying its own coins can make the volumes level again 

[dothebeats]

In other interesting volume news, bitfinex is now back way above bitstamp.... wow that didnt take long, i called it not long ago but didnt expect it this quick!

Not even surprised that finex would bounce up again. It's just that recent hacking that made their system look insecure and prone to attacks, but overall their exchange is a great platform for trading.