China's trading pattern confirmed: 21h sleep, 3h action

[Wexlike]

Looks extremely weird.

[kwukduck]

Yay for manipulation and bots on a fake market.

[albert73]

It's weird that the rally started at six in the morning China time yesterday. I doubt many people get up and start trading that early on a Saturday morning in China. Maybe some start trading at eight in the morning, but six is too early, most people want to get up late on a Saturday.

[notme]

Huobi's volume is more spread out than Okcoin's.

[acquafredda]

And what about the pump we had in the beginning of November? Was it like that also?

[NorrisK]

That is really weird indeed. Atleast you can now time your moves quite well. After massive volume, you get 20 hours to think about the next move, will it go up or down?
Maybe we can figure out a way to determine whether it will go up or down, so we can use this manipulation to our advantage.

[BillyBobZorton]

I don't see how it necessary involves bot usage. There are a lot of big players in china, the hash from mining can't be botted, so it's real, what im saying is the interest is real over there, there's serious money on the line.

[talks_cheep]

It's weird that the rally started at six in the morning China time yesterday. I doubt many people get up and start trading that early on a Saturday morning in China. Maybe some start trading at eight in the morning, but six is too early, most people want to get up late on a Saturday.

Obviously, you've never been to Shanghai or Beijing or any other Chinese cities. They wake up early, like 4-5AM. Them yellow men are not lazy like us White devils. Chinese KNOW how to work hard and long.

[RealMalatesta]

After Mr. Xan Wu was late in paying his electricity bill last month, Mr. Wan Xu from the power company "Lightning Dragon" steps by every morning for cashing in. Therefore, Xan Wu sells all his Bitcoins every day for getting some cash two hours before Wan Xu steps at his door.

[RyNinDaCleM]

Clearly a bot. An efficient one at that. Fakes a whole day's worth of volume in 3 or 4 hours. If it runs longer, it only becomes more apparent. 1MM BTC per day in volume? Yeah right. I have been observing this for a while now. In the chart below, is a special indicator I built specifically for volume analysis. It looks like shit in China since the volume surges are so erratic. But it shows what you all want to know. Spikes up are buys and down is sells.

link to see it more zoomed in
In the first half of the rally, it was all buying but it's strange that there is very little movement during those surges.
In the last half, the buying has given way to selling for about 60-70% of their volume.
In the middle? Dead zone, but that is where all the real price movement really happens. Again, strange happenings over there.

My hypothesis is this;
Take 5k BTC (any amount really, 5k is just an example), place an ask wall. Take $1.8M (or the equal value in Yuan) and buy said ask wall. The net result is 0 fees, 5k volume (possibly 10k depending on how they actually calculate and broadcast volume) and a more bullish looking chart. Now do this every few minutes for 3 or 4 hours and you get 300k+ volume, bullish looking indicators and zero losses/risk to the tape painter. Since everyone thinks Chinese exchanges are so legit so they follow their every twitch, they have the market by the balls. That dead zone in the middle? That is their true volume when not being worked by the bots.

For reference, here is standard volumes

Link to chart

And another showing uptick and down tick data

One more link

lol, something else just occurred to me. Sell legitimate coins at market in the last half, but end with green bars from just a single order being executed above the open price. You guys are being dumped on. It's easy to see! From the first chart, it is clearly dominated by sell-at-market volume. But many of the corresponding volume spikes close as green candles in the second chart. It only takes .01BTC bought higher than the open price to make a green candle. Keep that in mind

[lexuz]

I don't see how it necessary involves bot usage. There are a lot of big players in china, the hash from mining can't be botted, so it's real, what im saying is the interest is real over there, there's serious money on the line.

Yeah bot is not give affect anything but surely price increase because manipulation and im worried price goes down fastly

[lama-hunter]

wow - Guys wwhats fgoing on over there  ==??
Everything blows up to the moon or somethign other wromng on the amrket right now?

regards
lama-hunter

[eddie13]

I wouldn't put it past the chineese to pull some stunt like that. It could be someone or group trying to manipulate the price, then again it may be just volume manipulation to draw more people into OKcoin to benefit the exchange itself..

[NorrisK]

I wouldn't put it past the chineese to pull some stunt like that. It could be someone or group trying to manipulate the price, then again it may be just volume manipulation to draw more people into OKcoin to benefit the exchange itself..

Would be quite stupid of them to execute all their manipulation in a short time frame. If they are using bots for it, they can easily spread it evenly across the day to attract less suspicion.
Most likely something else is going on than volume manipulation to attract customers, as this does not look attractive.

[Cconvert2G36]

Nice thread. Thanks to Wex and RyN for helping people visualize what's going on there.

[RealMalatesta]

Now it would be interesting to see when this whole thing started, always having the question in mind: "Cui bono". Does it make sense for someone who is just speculating? Or: If someone wants to sell mining hardware or a Bitcoin related service, it would make sense to use such a bot because it also means that Bitcoin gains more public attraction and the price is getting higher. HAve there been similar patterns in the past and can they be linked to certain events?

[fabrizio123]

Very interesting, in a couple of hours we should see it at work again let's watch what happens

[Wexlike]

Thanks Ryn, great input!

In 2-3 hours the next action should occur.

[acquafredda]

Following this thread with a little bit of anger and frustration because I'm tired of all this bot price manipulation: in any case thanks a lot to Wexlike and RyNinDaCleM for the charts and very likely hypothesis.

Seems they are trying to revive Willy's trades: maybe November's pump was just a drill for something bigger to happen.

Watch out!

[WiiD]

What is your problem with bots pushing the price exactly?