Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[dreamspark]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

The 1/3 of the volume was to be a sure thing due to no more leverage, no ?

This is what certain people have been trying to say for weeks, once the market really moves absent Chinese overlord news, the coiled spring is likely to be released.

[TERA]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

Is that a bullish comment? I'm not entirely sure. TERA's reversals are as subtles as market's reversals.

If you haven't noticed, I've kind of just been trolling around and making jokes. I'm not particularly bullish or bearish right now. I feel flat, like the market. The charts are confusing me. One one hand, the weekly chart and the long term chart looked like they were in a really bad position and that a huge correction was due back to some lower trendline, and there are all these unresolved things about millions of coins and about China.  On the other hand, however, there is all of this massive growth and adoption, and really significant news events, all happening recently pushing it up and causing this not to happen. I tend to scoff at a rise over a news article but lately it's just been a barrage of dozens of news events. This may manifest into a long period of flatness as the bullish momentum slowly drills away at the downcrossed EMAs on the W1 chart. Then again there could be another downwards move if there are more negative events, however it's starting to seem like a risky bet. Of course it would probably happen right after I bought.

There may have been an inflection point when someone purchased 40,000btc offline...

[Miz4r]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

That makes sense. Fake or not, Huobi's volume was by far the largest of all the exchanges and most traders/investors will look where the most volume is and make their decisions based on that. So now that their volume is down the Chinese influence on the price went down as well. If the PBOC wants to gain back control of the price they had better find a way to increase the volume on the Chinese exchanges again or they will soon be history.

[niothor]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

That makes sense. Fake or not, Huobi's volume was by far the largest of all the exchanges and most traders/investors will look where the most volume is and make their decisions based on that. So now that their volume is down the Chinese influence on the price went down as well. If the PBOC wants to gain back control of the price they had better find a way to increase the volume on the Chinese exchanges again or they will soon be history.

Why do you think they give a f** about BTC price?

[dreamspark]

Some more bullish news for you then TERA 

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

[dreamspark]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

That makes sense. Fake or not, Huobi's volume was by far the largest of all the exchanges and most traders/investors will look where the most volume is and make their decisions based on that. So now that their volume is down the Chinese influence on the price went down as well. If the PBOC wants to gain back control of the price they had better find a way to increase the volume on the Chinese exchanges again or they will soon be history.

Why do you think they give a f** about BTC price?

Because they've been loading up for the last 5 months 

[niothor]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

That makes sense. Fake or not, Huobi's volume was by far the largest of all the exchanges and most traders/investors will look where the most volume is and make their decisions based on that. So now that their volume is down the Chinese influence on the price went down as well. If the PBOC wants to gain back control of the price they had better find a way to increase the volume on the Chinese exchanges again or they will soon be history.

Why do you think they give a f** about BTC price?

Because they've been loading up for the last 5 months 

Do you have any proof for that or just rumors?

[dreamspark]

Do you have any proof for that or just rumors?

Its a joke.

There would be no way in the world to know if people high up in Chinese banking had bought BTC

[blatchcorn]

I am a huge bear normally, but I have just turned bullish. >$1000 before June

[Hunyadi]

Some more bullish news for you then TERA 

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

New fiat will be trickling.

[niothor]

Do you have any proof for that or just rumors?

Its a joke.

There would be no way in the world to know if people high up in Chinese banking had bought BTC

Rumors , rumors but whenever I hear about the importance of China I feel like puking.
It was a pump based on fake volume and assumptions.

And what is worse , right now people believe that without China we should go back to 100 and ignore every progress made from last autumn.

[UnDerDoG81]

Some inside buy is going on, CCMF...

Just kidding 

[CoolStoryBro]

22k wall support @ 10.5 @ LTC
strange

[niothor]

Some more bullish news for you then TERA 

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

New fiat will be trickling.

Next big thing

In December, the bitcoin community turned to India as its next great hope after Chinese government statements caused the price to drop from its record high of $1,200. India is an emerging economy with a population of over a billion people, nearly half of whom are unbanked or under-served by banks.

Another hype based on nothing..
I'm pretty sure the exchange will claim millions in volume while having 100 satoshi in it's wallet.

The emerging countries , BRICS , myths about adoptions in Africa...

The only real way for bit coin to grow is being used where people have enough money to spend and business eager to accept it.
And that's the good old Europe and North America.

[TERA]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

[niothor]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

You're one messed up teddy bear , TERA .

[dreamspark]

Do you have any proof for that or just rumors?

Its a joke.

There would be no way in the world to know if people high up in Chinese banking had bought BTC

Rumors , rumors but whenever I hear about the importance of China I feel like puking.
It was a pump based on fake volume and assumptions.

And what is worse , right now people believe that without China we should go back to 100 and ignore every progress made from last autumn.

I don't think many people seriously think that, not ones who weren't perma bears anyway.

There will always be something be it gox, China etc but its all about their severity. The China situation is a real threat in speculative terms but the actual weight of it is reducing. Even if its just a short pump the market is begging for a rally.

[dreamspark]

Some more bullish news for you then TERA 

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

New fiat will be trickling.

Next big thing

In December, the bitcoin community turned to India as its next great hope after Chinese government statements caused the price to drop from its record high of $1,200. India is an emerging economy with a population of over a billion people, nearly half of whom are unbanked or under-served by banks.

Another hype based on nothing..
I'm pretty sure the exchange will claim millions in volume while having 100 satoshi in it's wallet.

The emerging countries , BRICS , myths about adoptions in Africa...

The only real way for bit coin to grow is being used where people have enough money to spend and business eager to accept it.
And that's the good old Europe and North America.

Sorry but thats quite narrow minded, the amount of wealth in India and other Asian countries is humongous. Yes there are lots of poorer civilians there as well but to suggest that emerging countries dont have the money to spend is just incorrect.

[TERA]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

You're one messed up teddy bear , TERA .

I'm not a bear; I'm a chartist, and I try to add a rational level-headed perspective to things.

[niothor]

Do you have any proof for that or just rumors?

Its a joke.

There would be no way in the world to know if people high up in Chinese banking had bought BTC

Rumors , rumors but whenever I hear about the importance of China I feel like puking.
It was a pump based on fake volume and assumptions.

And what is worse , right now people believe that without China we should go back to 100 and ignore every progress made from last autumn.

I don't think many people seriously think that, not ones who weren't perma bears anyway.

There will always be something be it gox, China etc but its all about their severity. The China situation is a real threat in speculative terms but the actual weight of it is reducing. Even if its just a short pump the market is begging for a rally.

Now , since we're talking about China , has anybody some links with shops , websites in China dealing with bitcoins?
I've asked about this in December and in February and didn't get that much feedback:).

Are there chinese actually holding bitcoins and not just speculating and trading?