Wall Observer - China wall movement tracker

[klaus]

Another key milestone reached by our Chinese friends...

¥  1.337 ? thats no milestone. I have one for U:

https://www.rmbtb.com/en/

[TERA]

Holy crap at that volatility. btcchina just gave you an opportunity to increase your btc 25% in that one drop. It's time to transfer some coins... I almost did earlier but was afraid it's some kind of trap to lure in arbiteurs and steal their coins.

[jl2012]

Holy crap at that volatility. btcchina just gave you an opportunity to increase your btc 25% in that one drop. It's time to transfer some coins... I almost did earlier but was afraid it's some kind of trap to lure in arbiteurs and steal their coins.

Well, btcchina has operated for >2 years (without major hack) so imo it is pretty safe. The greatest uncertainty is regulation of Chinese government.

[Zangelbert Bingledack]

China went beyond exponential this week (see weekly chart below), so it probably should correct to around 1150 or 1200 for a bit, or at least stay at its current level for a while (a day? a week?), before going higher. It could also overcorrect, or it could just plow ahead without caring. Anyway, too much watching the short-term charts will fray your nerves.



Here's the 30-day chart for a bit more perspective. (Anyone have a log chart for BTCChina?)

[gimme_bottles]

(Anyone have a log chart for BTCChina?)

http://bitcoincharts.com/charts/btcnCNY#rg10ztgSzm1g10zm2g25zvzl

[Zangelbert Bingledack]

(Anyone have a log chart for BTCChina?)

http://bitcoincharts.com/charts/btcnCNY#rg10ztgSzm1g10zm2g25zvzl

Thanks! Here's the 1-year log chart.

Definitely that last big buy was overboard as it starts to look curvy even on the log chart (just like in late March and early April), but a little consolidation and the growth can continue. Nice volume compared to spring, showing China really is emerging as a Bitcoin player where it wasn't just a few months ago.

[Tzupy]

Moving again, guess they decided the Bitcoin fairy wasn't going to come back and shower them with more cheap coins

IMO in 2 - 3 hours btcnCNY will decide if the uptrend continues, or it crashes hard again. My guess is it will crash hard.

[culexevilman]

I am arbing and if you got money wanting to arb I can get CNY out of china through Taiwan ATM From there we can do most currency.

[el_rlee]

I am arbing and if you got money wanting to arb I can get CNY out of china through Taiwan ATM From there we can do most currency.

The problem is you hardly will be able to directly put it in my bitstamp account, are you?

[TTBit]

There is a CNY.ripplecn / USD.bitstamp pair on ripple for those that want to take a shot at arbing. Not the most liquid at the moment (.1506 bid / .1610 ask), but more eyes on it the better.

[el_rlee]

There is a CNY.ripplecn / USD.bitstamp pair on ripple for those that want to take a shot at arbing. Not the most liquid at the moment (.1506 bid / .1610 ask), but more eyes on it the better.

Is there a way to get Chinese RMB into ripple?

[rebuilder]

Someone seems to be dicking around on btcchina. Some kind of posturing - the bid and ask walls move back and forth, seems to be about 300 BTC worth of either being removed from one side and added to the other, and back again.

[Zangelbert Bingledack]

I mentioned above that it needed to come down to 1150-1200, so it is, with of course some temporary overcorrection likely. Price discovery is beautiful

[notme]

Moving again, guess they decided the Bitcoin fairy wasn't going to come back and shower them with more cheap coins

IMO in 2 - 3 hours btcnCNY will decide if the uptrend continues, or it crashes hard again. My guess is it will crash hard.

I hope your right.  My primary count has this last run up as wave 5 off the $65 bottom.  I'm not yet convinced it is over, but when it is we should have a sizable ABC.

[TTBit]

There is a CNY.ripplecn / USD.bitstamp pair on ripple for those that want to take a shot at arbing. Not the most liquid at the moment (.1506 bid / .1610 ask), but more eyes on it the better.

Is there a way to get Chinese RMB into ripple?

Well yes, but for non-china customers it involves the BTC/CNY spread at the moment. My fault, I shouldn't have inferred that it is currently easy to get CNY into ripple.

[wasserman99]

There is a CNY.ripplecn / USD.bitstamp pair on ripple for those that want to take a shot at arbing. Not the most liquid at the moment (.1506 bid / .1610 ask), but more eyes on it the better.

Is there a way to get Chinese RMB into ripple?

http://ripplecn.com/

don't know much about it though and i think liquidity is a constant issue with Ripple....

[MAbtc]

This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.

[Ivanhoe]

Come on China, we count on you.

http://www.youtube.com/watch?v=04QoA44c23A

[chriswilmer]

Come on China, we count on you.

http://www.youtube.com/watch?v=04QoA44c23A

Hahaha

[2dogs]

Another key milestone reached by our Chinese friends...

¥  1.337 ? thats no milestone. I have one for U:

https://www.rmbtb.com/en/

This is a very difficult website to register;  always getting the 403 Forbidden or other error message.

Is there some special trick one has to have to use this website?