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accord01 (OP)
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December 19, 2013, 02:29:55 PM |
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Just watch as all the bulls will get slaughtered once again... I don't even need to explain why...
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Boxman90
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December 19, 2013, 02:32:49 PM |
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Just watch as all the bulls will get slaughtered once again... I don't even need to explain why...
As long as there's a considerable amount of bulls around after a horrific crash, whales will prey on them. Untill all bulls are slain. We've seen two weeks of bearmarket after horrible news. No reason now to have trend reversal with such lack of excruciatingly good news. |
LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
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seldon
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December 19, 2013, 02:40:19 PM |
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So you guys sold at 500?
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Mirsad
Full Member
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Activity: 140
Merit: 100
Bitcoin - love & hate
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December 19, 2013, 02:42:02 PM |
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It's a bulltrap. Sold @ 500 Euro again. Bids were filled again down till 450 Euro. Sell more !!! @ seldon: Sold @ 850 and 895 Euro  Good to be a bear, when all tards turn moonbulls. |
< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
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JimboToronto
Legendary
Offline
Activity: 4032
Merit: 4569
You're never too old to think young.
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December 19, 2013, 02:42:39 PM |
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So you guys sold at 500?
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accord01 (OP)
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December 19, 2013, 02:45:27 PM
Last edit: December 19, 2013, 02:58:54 PM by accord01 |
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sigh
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neordicICE
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December 19, 2013, 02:55:56 PM |
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This is the reason I dont trade, but just hodl instead.
Hard to beat this strategy
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accord01 (OP)
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December 19, 2013, 02:58:31 PM |
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Sigh... I am getting slaughtered right now...
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Savior
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December 19, 2013, 03:01:31 PM |
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Probaly not a bad idea to have some fiat ready for christmas, pretty big chance of some low days. But ofcourse, never go full fiat.
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yomofo
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December 19, 2013, 03:07:06 PM |
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has anyone withdrawn btc from btcchina after the crash? we can gauge when the arbitrage will begin based on that.
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dg2010
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December 19, 2013, 03:17:48 PM |
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Today has been like taking candy from a baby and I'm not even a trader. I'm just watching the graphs and catching solid returns on the upticks. Each time making $40-50 per BTC per trade.
If you can't see a pattern to todays trading then you really should stop trying to trade. Don't ask me to elaborate because I've made $1k today and I'm not even a trader, so in that respect I would be giving you my trade secrets. Not that it's a secret, just have a look at the price.
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Xer0
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December 19, 2013, 03:29:27 PM |
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double top, now gonna burn
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Wilhelm
Legendary
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Activity: 1652
Merit: 1265
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December 19, 2013, 03:40:21 PM |
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Just watch as all the bulls will get slaughtered once again... I don't even need to explain why...
U MAD? |
Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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TERA
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December 19, 2013, 03:47:32 PM |
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Its the exact same chart as last week - Chinese Arb cycle. Theyre only buying so they can dump on other exchanges, and they'll wait all the way till rally seems maxed out before they attack. Then suddenly the volume on BT China completely dies since there are no real buyers other than the arb, and they start dumping at the same time, causing a sick drop. Meanwhile every exchange is still wired to follow BT China, so everyone slides to hell together. SO As soon ad you see the volume on BT China die you GTFO. Next stop may be 350. This slide will continue until other exchanges support the price on their own and decouple from BT China.
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pbody
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December 19, 2013, 03:50:48 PM |
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I think a lot of people had market orders set at 500 that are being hit.
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dg2010
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December 19, 2013, 04:07:16 PM |
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Its the exact same chart as last week - Chinese Arb cycle. Theyre only buying so they can dump on other exchanges, and they'll wait all the way till rally seems maxed out before they attack. Then suddenly the volume on BT China completely dies since there are no real buyers other than the arb, and they start dumping at the same time, causing a sick drop. Meanwhile every exchange is still wired to follow BT China, so everyone slides to hell together. SO As soon ad you see the volume on BT China die you GTFO. Next stop may be 350. This slide will continue until other exchanges support the price on their own and decouple from BT China.
Do you know how hard it is to actually make money arb'ing with Bitcoin? It's near impossible. The idea that there are a shit load of Chinese traders buying on BTC China to dump elsewhere is frankly a load of bollocks. |
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TERA
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December 19, 2013, 04:17:41 PM |
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Its the exact same chart as last week - Chinese Arb cycle. Theyre only buying so they can dump on other exchanges, and they'll wait all the way till rally seems maxed out before they attack. Then suddenly the volume on BT China completely dies since there are no real buyers other than the arb, and they start dumping at the same time, causing a sick drop. Meanwhile every exchange is still wired to follow BT China, so everyone slides to hell together. SO As soon ad you see the volume on BT China die you GTFO. Next stop may be 350. This slide will continue until other exchanges support the price on their own and decouple from BT China.
Do you know how hard it is to actually make money arb'ing with Bitcoin? It's near impossible. The idea that there are a shit load of Chinese traders buying on BTC China to dump elsewhere is frankly a load of bollocks. Maybe arbitrage is the wrong word. What I mean is everyone needs to dump and the prices on other exchanges are much better than the prices on BT China. |
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dg2010
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December 19, 2013, 04:26:53 PM |
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Arbitrage is the right word but it's simply not causing these big spikes.
1. Chinese man with FIAT in BTCCHINA. He wants to make a profit so he buys all the BTC and then sells on MtGox with an extra $100usd on top. Now what does he do with USD in MTGOX? It takes months to withdraw, and then he has to withdraw into his Chinese bank. There is definitely no repeating cycle here because it's simply too long and as we have been told, FIAT is not travelling back into the BTC Exchanges.
2. Foreigner with FIAT in BTC China. Any foreigner with fiat in BTC China wants to get out, they should be buying BTC and moving it elsewhere. He sells on MtGox or Bitstamp and then what? He can't send it back to China to repeat the cycle.
Basically, it's not a cycle of arbitrage, the price difference on the exchange is not an opportunity that many people can take advantage of, not enough to create massive price spikes across all exchanges.
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TERA
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December 19, 2013, 04:37:43 PM |
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OK the cycle I mentioned was not the same funds getting repeatedly arbitraged but rather different groups of funds waiting to get out in stages.
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mgio
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December 19, 2013, 07:24:49 PM |
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Today has been like taking candy from a baby and I'm not even a trader. I'm just watching the graphs and catching solid returns on the upticks. Each time making $40-50 per BTC per trade.
If you can't see a pattern to todays trading then you really should stop trying to trade. Don't ask me to elaborate because I've made $1k today and I'm not even a trader, so in that respect I would be giving you my trade secrets. Not that it's a secret, just have a look at the price.
You got lucky. Tomorrow you will probably lose $1k. |
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