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

[fonzie]

Can´t wait for that LTC short squeeze on Finex, orderbook (3:1 bullish for 0,70$ difference) and shorts stats still look funny.

LTC is very dangerous right now. while a short squeeze is possible, i think it's more likely that the top is in for now. if 31~ CNY support falters, i could see a steep fall ahead...

LTC shorters, ~150k (down from 200K a day ago) are probably still sweatin right now.

[tarmi]

Can´t wait for that LTC short squeeze on Finex, orderbook (3:1 bullish for 0,70$ difference) and shorts stats still look funny.

LTC is very dangerous right now. while a short squeeze is possible, i think it's more likely that the top is in for now. if 31~ CNY support falters, i could see a steep fall ahead...

very true.

actually, I have a feeling that this bitcoin bounce from 440 territory is ltc related. someone pumped some fresh fiat from btc-e and bitfinex bitcoin liquidations into highly illiquid ltc market, hoping for a major btc push.

not going to happen.

[Walsoraj]

fonzie,

Do not try to acquire more fiat. That's impossible. Instead try to realize the truth: There is no fiat.

Then you'll see that we escaped Earth's gravity well long ago. It is not your fiat that increases, but your rocket thrust that decreases.

[fonzie]

fonzie,

Do not try to acquire more fiat. That's impossible. Instead try to realize the truth: There is no fiat.

Then you'll see that we escaped Earth's gravity well long ago. It is not your fiat that increases, but your rocket thrust that decreases.

[JorgeStolfi]

BTCChina

I think BTC-China always had fees until recently perhaps.  What happened in Dec/19 is that they lost the deposit channel via bank transfer. They came up with a voucher system that apparently was not popular, while Huobi and OKCoin found a way to continue using banks for deposit.  I don't know exactly what is the reason for their recent revival: they accept USD and HKD deposits, they have a mobile trading app, they may have eliminated the trading fees...

[macsga]

We could definitely see some upward move now. CCMF soon? 

[fonzie]

BTCChina

I think BTC-China always had fees until recently perhaps.  What happened in Dec/19 is that they lost the deposit channel via bank transfer. They came up with a voucher system that apparently was not popular, while Huobi and OKCoin found a way to continue using banks for deposit.  I don't know exactly what is the reason for their recent revival: they accept USD and HKD deposits, they have a mobile trading app, they may have eliminated the trading fees...

I´m almost 100% sure that they had no fees during the Nov/Dec bubble, maybe you could check out @JorgeStolfis posting history from that time, i´m pretty sure that he analyzed that, he´s a pro, but i´m too lazy to look by myself right now.  

Edit: Found this: http://www.coindesk.com/bitcoin-exchange-btc-china-eliminates-trading-fees/ from September 24, 2013

[3x2]

BTC is stuck around 500$

[Torque]

There is absolutely NO WAY an international trading market would settle in sideways EXACTLY @ $500 price point on its own.  Absolutely no way.

Only way is colluding whales could stick it there.

[X7]

There is absolutely NO WAY an international trading market would settle in sideways EXACTLY @ $500 price point on its own.  Absolutely no way.

Only way is colluding whales could stick it there.

Don't act so surprised

[Sandia]

The short term symmetric triangle will break in the next 7-8 hours.  That should be bullish.

[klee]

BTC is stuck around 500$

500$ is the new 5$

[Patel]

BTC is stuck around 500$

500$ is the new 5$

klee, did you ever get the other half of your coins back?

[teskky721]

BTCChina
https://ip.bitcointalk.org/?u=http%3A%2F%2Fi61.tinypic.com%2F2hmlnjo.jpg&t=543&c=s7sm7IaYqcRwmQ

I think BTC-China always had fees until recently perhaps.  What happened in Dec/19 is that they lost the deposit channel via bank transfer. They came up with a voucher system that apparently was not popular, while Huobi and OKCoin found a way to continue using banks for deposit.  I don't know exactly what is the reason for their recent revival: they accept USD and HKD deposits, they have a mobile trading app, they may have eliminated the trading fees...

I thought the voucher system had been banned in China, but I must have been wrong. It beats me how their exchanges are still operating with all the hostility from the Chinese government.

[klee]

BTC is stuck around 500$

500$ is the new 5$

klee, did you ever get the other half of your coins back?

I got 450 out of 1170btc and nothing from 7M nxt

[Walsoraj]

BTCChina

I think BTC-China always had fees until recently perhaps.  What happened in Dec/19 is that they lost the deposit channel via bank transfer. They came up with a voucher system that apparently was not popular, while Huobi and OKCoin found a way to continue using banks for deposit.  I don't know exactly what is the reason for their recent revival: they accept USD and HKD deposits, they have a mobile trading app, they may have eliminated the trading fees...

I thought the voucher system had been banned in China, but I must have been wrong. It beats me how their exchanges are still operating with all the hostility from the Chinese government.

Coinbase is probably depositing to chinese overseas operations. http://www.coindesk.com/chinese-bitcoin-exchanges-prepare-to-move-operations-overseas/

[ChartBuddy]

Explanation

[5cMXezpBtm]

The short term symmetric triangle will break in the next 7-8 hours.  That should be bullish.

Please show a picture of that symmetric triangle

[JorgeStolfi]

BTCChina

I think BTC-China always had fees until recently perhaps.  What happened in Dec/19 is that they lost the deposit channel via bank transfer. They came up with a voucher system that apparently was not popular, while Huobi and OKCoin found a way to continue using banks for deposit.  I don't know exactly what is the reason for their recent revival: they accept USD and HKD deposits, they have a mobile trading app, they may have eliminated the trading fees...

I´m almost 100% sure that they had no fees during the Nov/Dec bubble, maybe you could check out @JorgeStolfis posting history from that time, i´m pretty sure that he analyzed that, he´s a pro, but i´m too lazy to look by myself right now.  

Edit: Found this: http://www.coindesk.com/bitcoin-exchange-btc-china-eliminates-trading-fees/ from September 24, 2013

Bah, I won't bother, I don't trust @JorgeStolfi's brain. 

I see that BTC-China eliminated fees in September 2013.  Presumably by competition from Huobi and OKCoin, who had opened a couple of months earlier and did not charge fees from the start. 

But the drastic loss of volume around Dec/19 coincided with the Deecember decree, and I recall that they were left without bank deposit channels while Huobi kept it open (using the CEO's personal account) and OKCoin soon restored theirs.   I don't recall whether they restored fees on that date too.

At some point earlier this year, Bobby Lee was at odds with the other two CEOs on that matter: he wanted fees, they did not.

[fonzie]

Bitfinex ask side  

12kBTC to 440$; 4000BTC to 570$