ChartBuddy
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 08, 2014, 02:00:58 AM |
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Bitcoin_is_here_to_stay
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May 08, 2014, 02:05:21 AM |
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I don't think we are dumping today. This impulse up was too sharp in my opinion. I think we test the highs of last week before selling off again.
Honestly, what's going on with these Chinese exchanges is beyond me at this point. I assume the rise is based on short covering. But no rise can sustain for too long, not with NO money coming into the exchanges.
But for today we are probably going to see more up before we see more down.
Bitfinex shorts are actually pretty high right now at 9.5k BTC... so on average ppl are taking not covering. Longs are moderately high at 16.8M USD. Where can I find the current info on sum of longs and shorts on Finex?
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Toxic2040
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Activity: 1806
Merit: 4170
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May 08, 2014, 02:11:55 AM |
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can someone explain me why BTC-e has lower price for proximately 10$ than Bitstamp or Huobi ?
/tinfoil hat on I have wondered about this as well. The only answer I can come up with that makes any sense is arbitrage. There appears to be a group or groups doing extended arbitrage between BTC-e and Bitstamp/Huobi and who knows where else. I have watched this for several weeks now and it is just to consistent to be coincidence imo. In the scenario I envision these groups have a few hundred to a few thousand BTC and do this daily taking $2,000-$20,000 profits out in fiat. Even with just 200 coins it's 60k a month, not bad profit. /tinfoil hat off
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TERA
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May 08, 2014, 02:14:24 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 08, 2014, 02:16:54 AM |
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can someone explain me why BTC-e has lower price for proximately 10$ than Bitstamp or Huobi ?
/tinfoil hat on I have wondered about this as well. The only answer I can come up with that makes any sense is arbitrage. There appears to be a group or groups doing extended arbitrage between BTC-e and Bitstamp/Huobi and who knows where else. I have watched this for several weeks now and it is just to consistent to be coincidence imo. In the scenario I envision these groups have a few hundred to a few thousand BTC and do this daily taking $2,000-$20,000 profits out in fiat. Even with just 200 coins it's 60k a month, not bad profit. /tinfoil hat off the arbitrage is there for anyone to take advantage of. some poeple think price is lower there because they don't do AML ( is this even true? idk...) and so poeple that want to sell with no questions ask go there, providing more selling pressure.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 08, 2014, 02:21:09 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation. <sarcasm> ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate </sarcasm> china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?
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TERA
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May 08, 2014, 02:22:57 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation. ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate? I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
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windjc
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Activity: 2156
Merit: 1070
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May 08, 2014, 02:26:22 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation. ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate? I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume. Adam knows this. Check out his OWN POSTS in the first 5 pages of this thread.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 08, 2014, 02:27:03 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation. ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate? I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume. I have 2K waiting.
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windjc
Legendary
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Activity: 2156
Merit: 1070
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May 08, 2014, 02:31:07 AM |
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bears please click here.this has been a public service announcementHot newses are not going to do anything to the price trend. There needs to be volume and capitulation. ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate? I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume. I have 2K waiting. Well, you're going to have to wait another few days or a week or so, because the Chinese are short covering there asses off thanks to the lack of margin trading in a couple of days. Basically, the exchanges are talking about becoming like local bitcoins and they can't buy fast enough the last 3 days.
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ChartBuddy
Legendary
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 08, 2014, 03:00:57 AM |
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bobdude17
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May 08, 2014, 03:07:17 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.
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KFR
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May 08, 2014, 03:14:40 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it.
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JayJuanGee
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Activity: 3878
Merit: 11069
Self-Custody is a right. Say no to"Non-custodial"
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May 08, 2014, 03:22:16 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it. So what happens to price under this scenario? Price slowly trickles upward due to lack of coins, without volume?
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bobdude17
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May 08, 2014, 03:29:10 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it. So what happens to price under this scenario? Price slowly trickles upward due to lack of coins, without volume? It will trickle slowly at first, because experienced bitcoin traders will scoff at such a low volume rally. Then panic will grow as they notice that the sell walls are not being replaced. Price will then rocket on the low volume of traders who still use these exchanges. The hole these traders will be trying to fit through will be much smaller than anticipated because large buyers have cut off the stream of coins for sale nearer to the source.
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bobdude17
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May 08, 2014, 03:31:03 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it.
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byronbb
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Activity: 1414
Merit: 1000
HODL OR DIE
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May 08, 2014, 03:37:13 AM |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. This is why the money has been going into start-ups as VC funding.
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derpinheimer
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Activity: 896
Merit: 1000
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May 08, 2014, 03:42:52 AM |
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China broke 2800... ps. a huge chunk of BFX bid sum is one single entity: They are all 261.9 BTC staggered bids.
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solex
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Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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May 08, 2014, 03:43:32 AM |
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The ChinaPUMPTM is on full throttle.
Question is when the manager of City Wok calls for ChinaDUMPTM
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y3804
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May 08, 2014, 03:45:41 AM |
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These guys are professional pumpers. They've got those pumping skills
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