Crazy Chineese

[lukaszpp]

Look at
http://fiatleak.com/

Jesus! Chinese are buying like crazy! Above 3000 BTC every 10 minutes! Whoa! At this speed we will have a bump in a moment.

From the psychological point of view, it is logical. They panicked at 1200$ and now - when they see 450$ after gox (they don't give a shit to gox) they are hoping to go back at 1200$ - as Europeans and Americans did during previous bubbles.

What I don't understand, that why Europeans are not buying. Are they selling? To Chinese?

'murica is asleep now. But what happens when they wake up is hard to predict. China will be asleep then.

Any guess? Do we have bottom now?

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[sumantso]

Maybe the Chinese read the leaked document as Bitcoins coming out of cold wallet into hot to pay off everybody.

We had a similar problem with Worldcoin a few days back. They translated and read it as 'WDC dead' and sold everything lol.

[TERA]

How is the data from fiatleak deduced? Is it just because someone made a trade on huobi? If so, that has no meaning because there are 0 fees there.

[lukaszpp]

https://bitcointalk.org/index.php?topic=486336.0

If mtGox is not dead, but "just" rearranging, we will have a mass boost in price now. It already is, in fact.

[TERA]

https://bitcointalk.org/index.php?topic=486336.0

If mtGox is not dead, but "just" rearranging, we will have a mass boost in price now. It already is, in fact.

That would SUCK big time. I was so bullish when I thought that btc was finally recovering without gox and moving on into a new phase of independence but if this is false it just means the bullshit is continuing and I would not be bullish anymore.

[Elwar]

$535 on btcchina now.

[Mythul]

CCMF !

[lukaszpp]

https://bitcointalk.org/index.php?topic=486336.0

If mtGox is not dead, but "just" rearranging, we will have a mass boost in price now. It already is, in fact.

That would SUCK big time. I was so bullish when I thought that btc was finally recovering without gox and moving on into a new phase of independence but if this is false it just means the bullshit is continuing and I would not be bullish anymore.

Agree. Still, we have to wait. In my opinion we should be panic buying, like Chinese are doing now, and not give a shit about gox. When people understand that (few days? weeks?) we should have slow, steady growth. +- 100$ a month from now can be no difference.

[lukaszpp]

http://bitcoinity.org/markets/bitstamp/USD

Also consider nearly 30M volume at 400$. Didn't happen in a long time. Did market just woke up?