adamstgBit
Legendary
Activity: 1904
Merit: 1039
Trusted Bitcoiner
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June 05, 2014, 02:21:34 AM |
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Why is anyone still focusing on China? Do they contribute anything to Bitcoin development or adoption?
because of low no fees its conceivable that traders from all over the world trade there. so its price is relevant even if china itself is not. |
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samsonn25
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June 05, 2014, 02:23:50 AM |
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No, but China has the biggest BTC traders and that affects the market price. They also are the largest manufacturers of the asic chips that mine them as well.
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byronbb
Legendary
Activity: 1414
Merit: 1000
HODL OR DIE
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June 05, 2014, 02:34:07 AM |
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TERA, very interesting. So it means that currently resistance is $678 and support $566? I think we also have a smaller resistance now at ~$650, which coincides with sMA 200 and the neckline from recent triple top.
If you draw the bottom at $340, then you have support at $530 and resistance at $650. If you draw the bottom at $380, then you have support at $560 and resistance at $675. I'm not sure which one to use. Based just on market observation, seems we have resistance both at $650 and $676. I wish I knew where the support is. 85 cents obviously LOL!!!!   |
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byronbb
Legendary
Activity: 1414
Merit: 1000
HODL OR DIE
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June 05, 2014, 02:36:01 AM |
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TERA, very interesting. So it means that currently resistance is $678 and support $566? I think we also have a smaller resistance now at ~$650, which coincides with sMA 200 and the neckline from recent triple top.
If you draw the bottom at $340, then you have support at $530 and resistance at $650. If you draw the bottom at $380, then you have support at $560 and resistance at $675. I'm not sure which one to use. Based just on market observation, seems we have resistance both at $650 and $676. I wish I knew where the support is. $625 imo. edit Actually we haven't even broken out of the rally trend yet.  |
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adamstgBit
Legendary
Activity: 1904
Merit: 1039
Trusted Bitcoiner
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June 05, 2014, 02:38:45 AM |
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gee whiz i hope i wake up in time to see us break 680.
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JayJuanGee
Legendary
Activity: 4438
Merit: 14403
Self-Custody is a right. Say no to "non-custodial"
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June 05, 2014, 02:41:41 AM |
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About 20 or more posts, just disappeared off of the thread............. That really messes me up  |
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byronbb
Legendary
Activity: 1414
Merit: 1000
HODL OR DIE
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June 05, 2014, 02:50:52 AM |
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About 20 or more posts, just disappeared off of the thread............. That really messes me up Blitz doing his worst to moderate. Defend and encourage blatant trolls, delete the meme-spam. |
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smoothie
Legendary
Activity: 2492
Merit: 1498
LEALANA Bitcoin Grim Reaper
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June 05, 2014, 02:57:34 AM |
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I predict from now until the first week of August we will have at most 2 weekly red candles.
The rest will be green.
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ChartBuddy
Legendary
 Online
Activity: 2898
Merit: 2496
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 05, 2014, 03:00:49 AM |
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YipYip
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June 05, 2014, 03:01:13 AM |
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I predict from now until the first week of August we will have at most 2 weekly red candles.
The rest will be green.
what time scale ? ... Daily ? |
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JorgeStolfi
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June 05, 2014, 03:04:58 AM |
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Why is anyone still focusing on China? Do they contribute anything to Bitcoin development or adoption?
Because they still define the price, mostly. Arbitrage trading tends to equalize prices among all exchanges, generally by copying the price from high-liquidity exchanges to low liquidity ones (counting as "liquidity" not only the order book but also how quickly the traders react, I guess.) That effectively means copying the price from the main Chinese exchanges (OKCoin, Huobi, BTC-China, and several others that are not listed by popular chart sites) to those in the "West" (Bitstamp, BTC-e, etc.) I would say that this rally, in particular, was started and is being driven by the Chinese traders. The big price jumps (the positive ones, at least) seem to have started in China a little before they start in the West. (It hard to tell for sure, the difference is less than a minute; which is expected, because arbitrage robots must be quick or they will lose the opportunities to competitors). |
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MOB
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June 05, 2014, 03:06:29 AM |
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I think we either break 700 off of this current holding pattern, or down to the middish 500's. I can not say into August ;p
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derpinheimer
Legendary
Activity: 896
Merit: 1000
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June 05, 2014, 03:35:49 AM |
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gee whiz i hope i wake up in time to see us break 680.
I think we either break 700 off of this current holding pattern, or down to the middish 500's. I can not say into August ;p
Agreed. I dont see us breaking $700 though :/ |
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beetcoin
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June 05, 2014, 03:40:06 AM |
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feels like the big whales are waiting for something to happen to spur a rally, but it's been relatively quiet the past few days.
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BBmodBB
Full Member
Activity: 154
Merit: 100
BTC = FREEDOM IS OUR ONLY HOPE!
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June 05, 2014, 03:46:53 AM |
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gee whiz i hope i wake up in time to see us break 680.
I think we either break 700 off of this current holding pattern, or down to the middish 500's. I can not say into August ;p
Agreed. I dont see us breaking $700 though :/ Q::: why are we still below $1000? lmaooooo!!! =) A::: BTC is being held down & accumulated by corporations imo!!!! |
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silverfuture
Legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
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June 05, 2014, 03:56:39 AM |
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Why is anyone still focusing on China? Do they contribute anything to Bitcoin development or adoption?
Because they still define the price, mostly. Arbitrage trading tends to equalize prices among all exchanges, generally by copying the price from high-liquidity exchanges to low liquidity ones (counting as "liquidity" not only the order book but also how quickly the traders react, I guess.) That effectively means copying the price from the main Chinese exchanges (OKCoin, Huobi, BTC-China, and several others that are not listed by popular chart sites) to those in the "West" (Bitstamp, BTC-e, etc.) I would say that this rally, in particular, was started and is being driven by the Chinese traders. The big price jumps (the positive ones, at least) seem to have started in China a little before they start in the West. (It hard to tell for sure, the difference is less than a minute; which is expected, because arbitrage robots must be quick or they will lose the opportunities to competitors). None of that is supported by this recent study. http://arxiv.org/pdf/1406.0268v1.pdf |
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ChartBuddy
Legendary
Online
Activity: 2898
Merit: 2496
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 05, 2014, 04:00:29 AM |
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samsonn25
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June 05, 2014, 04:01:44 AM |
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Unlike tulip-mania the supply is limited
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derpinheimer
Legendary
Activity: 896
Merit: 1000
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June 05, 2014, 04:08:34 AM |
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Unlike tulip-mania the supply is limited
And unlike Bitcoin, tulips die and need periodic replacing. |
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JorgeStolfi
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June 05, 2014, 04:10:51 AM |
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That is the difference between scientific research and some forum troll.  You are right, I should have written that it in LaTeX for it to be Scientific. Fortunately you are still free to believe whatever you want. |
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