Bitfinex is trading with ATH

[European Central Bank]

But there's a psychological impact in the other markets that makes them bullish too I think. When people see "wow, bitfinex $1350? let's buy right now!" they buy on other exchanges with legit money and it ends up pumping the price in the rest of the market. Make no mistake, a lot of people act like this, they don't do any research.

I think LePen's win is also a way to make bitcoin more valuable since she will destroy the European currency if she gets elected in july.

it takes effort and commitment to get on an exchange. most people on there won't be stupid enough to fall for a price that has nothing to do with reality, especially those with enough to move the price anywhere.

and le pen won't win.

[york780]

But there's a psychological impact in the other markets that makes them bullish too I think. When people see "wow, bitfinex $1350? let's buy right now!" they buy on other exchanges with legit money and it ends up pumping the price in the rest of the market. Make no mistake, a lot of people act like this, they don't do any research.

I think LePen's win is also a way to make bitcoin more valuable since she will destroy the European currency if she gets elected in july.

it takes effort and commitment to get on an exchange. most people on there won't be stupid enough to fall for a price that has nothing to do with reality, especially those with enough to move the price anywhere.

and le pen won't win.

Even if she wins, its not important. Not btc related so idc.

[lumeire]

I am not sure about the reasons why bitstamp prices are lagging with bitfinex and preev rates. But interestingly bitfinex prices are just breaking $1350 levels (I believe the previous recorded higher price of bitcoin is $1350 just on the day when winklevoless's etf application got rejected ).

Those wire transfer problems of bitfinex made them isolated from rest of exchanges ? What is actually happening ?

Probably the result of transfer problems still? A fraction probably bought even at a higher price just to get their money out of there.

[d5000]

it doesn't matter the motivation was or what the conditions were, the first $1350 counts. real money was paid for it.

the current $1350 does not count.

Exactly.

The ETF decision day peak was caused by real people (or their bots) spending real dollars in a FOMO rush because they thought the ETF had been approved and someone had inside information.

The current Finex price means nothing other than people are willing to pay a ridiculous premium just to get their money out.

Also the old >1300 highs just before the ETF decision were also reached at other exchanges (according to Bitcoinity):

- Bitstamp: $1350
- Itbit: $1329
- GDAX: $1360
- Kraken: $1311

So I consider the $1350-60 range the "real" ATH at this moment.

It's interesting that Bitstamp is slowly nearing the $1252 30-day-high. If that one is broken, the ~$1300 levels could be reached soon, and if prices stabilizes there a new ATH is in sight.

[PrymeTyme]

[alyssa85]

But there's a psychological impact in the other markets that makes them bullish too I think. When people see "wow, bitfinex $1350? let's buy right now!" they buy on other exchanges with legit money and it ends up pumping the price in the rest of the market. Make no mistake, a lot of people act like this, they don't do any research.

That's definitely what happened with the MtGox highs. People were buying btc to get their money out of the exchange, but the wider world still thought MtGox was basically sound and just having a few solvable problems and pumped up to match the mtgox price.

I think it's different now. Bitcoiners have now been through so many shennanigans that they've seen it all and no longer act blindly. Everyone and their dog will know the true reason for the bitfinex highs and will be ignoring them.

[User705]

Yep.  Buy on bitfinex for $1300 to get BTC out and sell on Chinese exchanges for $1000 to get fiat out.

[alyssa85]

Yep.  Buy on bitfinex for $1300 to get BTC out and sell on Chinese exchanges for $1000 to get fiat out.

Careful. Chinese exchanges like OKCOIN are not allowing USD withdrawals either.

[Silberman]

that $1350 back at the time of ETF doesn't count the same way this $1350 doesn't count.
the first one was a whale going crazy and messing with all the shorts of everyone when they bought all the way up and dumped all the way down in one minute!

and this new $1350 also doesn't count since bitfinex is getting empty of traders as they buy BTC and get out. you have to want to take high risks to sell BTC on finex and keep fiat there.

it doesn't matter the motivation was or what the conditions were, the first $1350 counts. real money was paid for it.

the current $1350 does not count.

But there's a psychological impact in the other markets that makes them bullish too I think. When people see "wow, bitfinex $1350? let's buy right now!" they buy on other exchanges with legit money and it ends up pumping the price in the rest of the market. Make no mistake, a lot of people act like this, they don't do any research.

I think LePen's win is also a way to make bitcoin more valuable since she will destroy the European currency if she gets elected in july.

I agree on this some people are sheep and when they see a high price they think it must happen everywhere too, even if there are very specific reasons for that to happen on Bitfinex, however we must be careful because when the price goes down these very same sheep's are the ones that bring the price down abruptly.