Theory : China began using wash trading to hide large buyers entering the market

[bobdude17]

Now that the buyers are here, people are stuck wondering how much volume is real, how much is not.

It would have been a trigger to the other markets to see Chinese volume suddenly surge with a price surge. It would show too plainly Chinese interest.

Now, we really don't how many coins the Chinese are buying, and other traders' uncertainty of how serious they are gives them more time to get them cheaper. A head start.
Race is on.

[NorrisK]

So you are saying the chinese use the masive volume from free trading to hide their buying spree?

And you think we will follow them very soon and go up another 30-40 usd? Better start buying than.

Did you go in after this theory?

Will be interesting indeed, I think you may be on to something.

[dothebeats]

So you are saying the chinese use the masive volume from free trading to hide their buying spree?

And you think we will follow them very soon and go up another 30-40 usd? Better start buying than.

Did you go in after this theory?

Will be interesting indeed, I think you may be on to something.

Chinese exchanges are known for rigging the figures in their volume. It's no surprise at all. But what really is fascinating here is how we managed to escape out of $300 psychological barrier and go up from there EASILY? Looks like bulls have a big stash that they got from the 2014 bear market that's why they're so motivated to bring this thing outside the roof.

[NorrisK]

So you are saying the chinese use the masive volume from free trading to hide their buying spree?

And you think we will follow them very soon and go up another 30-40 usd? Better start buying than.

Did you go in after this theory?

Will be interesting indeed, I think you may be on to something.

Chinese exchanges are known for rigging the figures in their volume. It's no surprise at all. But what really is fascinating here is how we managed to escape out of $300 psychological barrier and go up from there EASILY? Looks like bulls have a big stash that they got from the 2014 bear market that's why they're so motivated to bring this thing outside the roof.

True, I never expected to price to blast through the 300 barrier this fast, without any signs of retrace yet.

Either we are in for a massive (overdue) correction very soon, or we are really running full bull now.

There was a lot of potential for everybody to buy as much coins as they wanted in the 200-220 range, but I guess greed makes you want them even cheaper.

[dothebeats]

True, I never expected to price to blast through the 300 barrier this fast, without any signs of retrace yet.

Either we are in for a massive (overdue) correction very soon, or we are really running full bull now.

There was a lot of potential for everybody to buy as much coins as they wanted in the 200-220 range, but I guess greed makes you want them even cheaper.

I can't find some traces of correction, actually. All I see is people kicking themselves thinking of why the hell they haven't bought some when price is <$300 only to think of buying this time which will support this bull run to get to even more higher price range.

[Denker]

So you are saying the chinese use the masive volume from free trading to hide their buying spree?

And you think we will follow them very soon and go up another 30-40 usd? Better start buying than.

Did you go in after this theory?

Will be interesting indeed, I think you may be on to something.

Chinese exchanges are known for rigging the figures in their volume. It's no surprise at all. But what really is fascinating here is how we managed to escape out of $300 psychological barrier and go up from there EASILY? Looks like bulls have a big stash that they got from the 2014 bear market that's why they're so motivated to bring this thing outside the roof.

Yes indeed.I'm still scratching my head that we haven't seen my much resistance there. I really thought we have to fight a several days holding the 300 and then moving sideways for some weeks. But our baby is on fire.Like a hot knife through a block of butter!

[katafrag]

any rise of 8 or more days in a row , shows a big hand is buying, no need to study finance to know that.

[1Referee]

any rise of 8 or more days in a row , shows a big hand is buying, no need to study finance to know that.

Whover is buying, it is fantastic as we haven't seen such a rally in a long time. It's time for some positivity  Something tells me that Huobi won't stop with pumping before reaching at least $400. The price gap between Huobi and other exchanges is way too huge, which might indicate that it is following MtGox's path. The price is going up too fast if you ask me.

[jubalix]

....i think there's a fair bit of rigging going on....btc will survive but exchanges will fail

[dothebeats]

any rise of 8 or more days in a row , shows a big hand is buying, no need to study finance to know that.

Whover is buying, it is fantastic as we haven't seen such a rally in a long time. It's time for some positivity  Something tells me that Huobi won't stop with pumping before reaching at least $400. The price gap between Huobi and other exchanges is way too huge, which might indicate that it is following MtGox's path. The price is going up too fast if you ask me.

Having a thought in there. It seems that the volume is REALLY rigged in China's side, but it still is working to manage this price rise. Well whatever it is, it has already caused a hype and might soon trigger a panic buy from the masses (which might caused this rise to go even further to new heights.)

[1Referee]

any rise of 8 or more days in a row , shows a big hand is buying, no need to study finance to know that.

Whover is buying, it is fantastic as we haven't seen such a rally in a long time. It's time for some positivity  Something tells me that Huobi won't stop with pumping before reaching at least $400. The price gap between Huobi and other exchanges is way too huge, which might indicate that it is following MtGox's path. The price is going up too fast if you ask me.

Having a thought in there. It seems that the volume is REALLY rigged in China's side, but it still is working to manage this price rise. Well whatever it is, it has already caused a hype and might soon trigger a panic buy from the masses (which might caused this rise to go even further to new heights.)

Rigged is not the right word to describe the volume of OKCoin 1,200,000BTC and Huobi 940,000BTC. It's beyond insane. The average traders always need to see the price go up before buying, so I also expect the price to go up further. Let's hope it will not get dumped to the ground again after a week or two.

[r0ach]

I had the exact same thought as the original poster, that the exchanges are in league with corporate China and the Chinese government and the real reason they faked volume was to allow these players to manipulate the market without showing any visible signs of what's going on.  Apparently they want the price to go higher!

[Dilla]

Yea, this really looks like an institution of some sort buying. Maybe China wants to own a lot of btc, pump up the price, and in turn, pump up their economy from their btc wealth.

[Mickeyb]

Once we start talking about the Chinese, everything is possible. Add to your theory a rumor that Chinese officials have started buying bitcoins and you have quite a story here.

In all honesty, if we take into consideration a speculative nature of the Chinese people, everything is possible, even what you are claiming. Their no fee exchanges are great for preventing us to know the real truth about the volume and real buys in their markets. As long as Bitcoin price goes up, and it doesn't fall on its face as a dump two days later, I don't care what they are doing!

[dloghwak]

Yea, this really looks like an institution of some sort buying. Maybe China wants to own a lot of btc, pump up the price, and in turn, pump up their economy from their btc wealth.

You do realize that china is the second biggest economy in the world and still fast growing?

[uki]

in case you haven't seen this article, there is a nice discussion what are the driving factors in China behind the latest surge in bitcoin prices:
https://bitcoinmagazine.com/articles/chinese-exchanges-agree-bitcoin-price-has-nothing-to-do-with-capital-controls-1446233197
to me, it looks like a preparation for a bigger bubble before the next halving event. A test, how much does it take to push the market higher and how quick the sellers would react.

[cakir]

Meh.
China markets are full of idiot bots. Some smart guys found a way to manipulate them, so this is why they're going crazy.

[Meuh6879]

You can fight the demand ... trust is like that.
well, we must wait the end of US Custom Sell now.

[Q7]

I'm not sure whether there might be manipulation going on but it looks like this time round the price has been pretty steady on the uptrend. For now I expect price to be moving further upwards and we should have a clearer indication perhaps in few weeks time. Just like in the past experience, whatever signs it may be showing, I would just remain cautious.

[pokeviktor]

Well, here you can see how many BTC they are buying...

http://fiatleak.com/