Bitfinex Gap $70 Could Be News Coming?

[bitjoin]

Bitfinex gap vs stamps $70 could be news coming? i've heard rumors on the grapevine we have an announcement coming soon, could mean some fireworks on price.

[1714110980]

1714110980

[1714110980]

1714110980

[gentlemand]

I assume it means more people with access to Taiwanese bank accounts are piling in. That could reduce the spread with no announcement on the horizon.

[bitjoin]

I assume it means more people with access to Taiwanese bank accounts are piling in. That could reduce the spread with no announcement on the horizon.

I think we are going to hear something today or tomorrow.  The taiwan arbers would eventually pull the spread to zero though given enough time there is only so much USD stuck in finex remember.

[alyssa85]

According to the following article:

http://www.livebitcoinnews.com/lack-communication-bitfinex-bitcoin-users-concerned/

Bitfinex have been silent for two weeks, and are trying to find another non-Taiwanese bank to take them on. I doubt they've managed it yet, it takes longer than two weeks for banking arrangements to be switched.

[BitcoinHodler]

i hope there are good news about Bitfinex, for the sake of all those people having their money there still.

but the reason for this gap becoming smaller can be because people ran out of fiat there! you know there is no possibility for depositing money there so the buy pressure is lowered as majority of users bought bitcoin and made their exit.

[bartolo]

i hope there are good news about Bitfinex, for the sake of all those people having their money there still.

but the reason for this gap becoming smaller can be because people ran out of fiat there! you know there is no possibility for depositing money there so the buy pressure is lowered as majority of users bought bitcoin and made their exit.

Yes, that may be the reason, it could be interesting to look at the volume of transactions to check if it has declined. It´s also normal that the difference, at a certain point, tends to be lower. Anyway it´s clear that an announcement favorable to the users of the platform would be positive, for them and in general for everyone because people wouldn´t lose the confidence of depositing money in the exchanges to trade.

[BrewMaster]

i hope there are good news about Bitfinex, for the sake of all those people having their money there still.

but the reason for this gap becoming smaller can be because people ran out of fiat there! you know there is no possibility for depositing money there so the buy pressure is lowered as majority of users bought bitcoin and made their exit.

Yes, that may be the reason, it could be interesting to look at the volume of transactions to check if it has declined. It´s also normal that the difference, at a certain point, tends to be lower. Anyway it´s clear that an announcement favorable to the users of the platform would be positive, for them and in general for everyone because people wouldn´t lose the confidence of depositing money in the exchanges to trade.

according to bitcoinwisdom.com the trading volume of bitfinex has been 11,737 (i think the unit is BTC but not sure!)
and compared to bitstamp which is 8,720 it shows a bigger volume.
also again according to bitcoinwisdom, the volume has been the same  yesterday at 17K and the day before 16.7K then 22.3 then 8.5

and what i see is not a decrease in volume so there must be other reasons.

[Nagadota]

The gap of Bitfinex is harder to tell than that since each exchange has its own price.

Even reasonably reputable exchanges like Coinbase have ridiculously different prices to Stamp.

It's still shocking how low the premium is though.  I don't think the chances of them coming back is as high as traders seem to think they are.

[The Sceptical Chymist]

The gap of Bitfinex is harder to tell than that since each exchange has its own price.

Even reasonably reputable exchanges like Coinbase have ridiculously different prices to Stamp.

It's still shocking how low the premium is though.  I don't think the chances of them coming back is as high as traders seem to think they are.

It's ludicrous that we can't get one single consistent price for bitcoin, that the market is so inefficient.  I realize preev is a composite,  but it still blows my mind that arbitrage opportunities still abound.   If I had money and the cojones, I'd be trying it.  Let's hope bitfinex gets a good bank and gets back on its feet.

[bitjoin]

The gap of Bitfinex is harder to tell than that since each exchange has its own price.

Even reasonably reputable exchanges like Coinbase have ridiculously different prices to Stamp.

It's still shocking how low the premium is though.  I don't think the chances of them coming back is as high as traders seem to think they are.

It's ludicrous that we can't get one single consistent price for bitcoin, that the market is so inefficient.  I realize preev is a composite,  but it still blows my mind that arbitrage opportunities still abound.   If I had money and the cojones, I'd be trying it.  Let's hope bitfinex gets a good bank and gets back on its feet.

We do get more of a consistant price when the market isn't moving like crazy on a daily basis.  All the different qwerks of the exchanges, banks and countries just complicate things. But yeah defo room for profit for arbing.

[Qartada]

The gap of Bitfinex is harder to tell than that since each exchange has its own price.

Even reasonably reputable exchanges like Coinbase have ridiculously different prices to Stamp.

It's still shocking how low the premium is though.  I don't think the chances of them coming back is as high as traders seem to think they are.

It's ludicrous that we can't get one single consistent price for bitcoin, that the market is so inefficient.  I realize preev is a composite,  but it still blows my mind that arbitrage opportunities still abound.   If I had money and the cojones, I'd be trying it.  Let's hope bitfinex gets a good bank and gets back on its feet.

Preev is wrong.  On the right you can see their sources, which are BTC-E, Bitfinex and Bitstamp, two of which are dysfunctional.  They really need to get on the ball and there needs to be a decent composite.  Currently, it should exclude BTC-E and Bitfinex while including Coinbase and Kraken.

[bitjoin]

Gap down to $40-$50 today and i've heard they have an audit on the way https://www.youtube.com/watch?v=OapgVHWUBvc&t=33658

[BitcoinerXX]

The gap of Bitfinex is harder to tell than that since each exchange has its own price.

Even reasonably reputable exchanges like Coinbase have ridiculously different prices to Stamp.

It's still shocking how low the premium is though.  I don't think the chances of them coming back is as high as traders seem to think they are.

It's ludicrous that we can't get one single consistent price for bitcoin, that the market is so inefficient.  I realize preev is a composite,  but it still blows my mind that arbitrage opportunities still abound.   If I had money and the cojones, I'd be trying it.  Let's hope bitfinex gets a good bank and gets back on its feet.

Preev is wrong.  On the right you can see their sources, which are BTC-E, Bitfinex and Bitstamp, two of which are dysfunctional.  They really need to get on the ball and there needs to be a decent composite.  Currently, it should exclude BTC-E and Bitfinex while including Coinbase and Kraken.

dont use preev, use tradeblock instead https://tradeblock.com/markets/index/

[richardsNY]

It could probably be regarding the one time withdrawal offer that they were talking about last month. If that's playing an important role, then the premium will vanish. And once again, if that's really the case, I seriously hope that people will use that opportunity to finally leave that exchange. The sooner Bitfinex will lose its leading position, the less harm will come from them in case they happen to "blow up".

[segeln]

Announcements > Auditor Engagement
May 05, 2017

https://www.bitfinex.com/posts/202

[talkbitcoin]

Announcements > Auditor Engagement
May 05, 2017

https://www.bitfinex.com/posts/202

i came here to post this same link but i honestly can not see what the relationship between "Getting an auditor from NY" and people relaxing their buying frenzy on bitfinex!

p.s the gap is about $10 now!

[~Bitcoin~]

Announcements > Auditor Engagement
May 05, 2017

https://www.bitfinex.com/posts/202

This turns out to be positive news to clear all the panic roaming around recent trouble bitfinex and tether have with their Taiwanese bank.

Right now gap between BTC-USDT and BTC-USD pair is only 10-20$ which is quite normal.

[Przemax]

Announcements > Auditor Engagement
May 05, 2017

https://www.bitfinex.com/posts/202

i came here to post this same link but i honestly can not see what the relationship between "Getting an auditor from NY" and people relaxing their buying frenzy on bitfinex!

p.s the gap is about $10 now!

The frenzy, as you had put it or rather a panic, was eased by bitstamp helping out to even out the gap between those two guilds. Either it was the exchange was helping out or it was the new people in bitcoin, the japaneese investors that doesnt have the idea of the risk involved in the exchange that might go down.

But you can not overestimate the signal that people are not left behind and that there are actions that are made to help people. That kind of appeasements can stop most of the panics imho,.

[bartolo]

Announcements > Auditor Engagement
May 05, 2017

https://www.bitfinex.com/posts/202

i came here to post this same link but i honestly can not see what the relationship between "Getting an auditor from NY" and people relaxing their buying frenzy on bitfinex!

p.s the gap is about $10 now!

Maybe the banks have told them to take this measure as a condition to return to work with them. It´s a good sign that they continue to take steps to solve their problems. Besides, if they had wanted to cheat their clients they would have closed and fled with the money long ago.