btc china depth is staggering

[no-ice-please]

Considering they have the highest volume, does it look like a major break out upwards is likely?

Does someone who has watched their depth for a while have an opinion?

https://bitcoinity.org/markets/btcchina/CNY

[Beliathon]

Considering they have the highest volume, does it look like a major break out upwards is likely?

Are you asking us to speculate?

[Beliathon]

Considering they have the highest volume, does it look like a major break out upwards is likely?

Are you asking us to speculate?

I'm asking you to make an educated guess, so I can speculate.

In that case, your thread belongs in the speculation sub-forum, found here: https://bitcointalk.org/index.php?board=57.0

[TinaK]

This is nothing, and similar to BTC-e and LakeBTC etc, they don't open market depth fully,  mysterious

https://bitcoinity.org/markets/btce/USD
https://bitcoinity.org/markets/lakebtc/USD

[sonofacoin]

I'm interested to know too... but everyone seems to be more concern about the place for this post.

[Argwai96]

Considering they have the highest volume, does it look like a major break out upwards is likely?

Does someone who has watched their depth for a while have an opinion?

https://bitcoinity.org/markets/btcchina/CNY

I don't think the depth of an exchange's order book is a very good indication of where the price will go in the future. All it will show you is how attractive it would be for someone to trade large volume on such exchange.

You need to note that the active order book is not 100% representative of orders as people likely have various API programs that monitor the price on the exchange and will enter in a new order if certain criteria is met

[devphp]

Do they have fees to trade? If not, it's fake volume.

[BitCoinNutJob]

i think they have fees now, they use to be no fee


insane volume right now

[sgk]

I seriously believe China wants to get hold of as many Bitcoins as possible by spreading FUD about banning BTC, and buying cheap coins at the same time.

[jaberwock]

Do they have fees to trade? If not, it's fake volume.

they have fees and I suspect they have fake volume too

[poncom]

Do they have fees to trade? If not, it's fake volume.

they have fees and I suspect they have fake volume too

They have a facility to gamble using borrowed money, or bitcoins. Would that affect the volume shown on exchanges?

[BitCoinNutJob]

I seriously believe China wants to get hold of as many Bitcoins as possible by spreading FUD about banning BTC, and buying cheap coins at the same time.

possible but thats a dangerous game to even mention bitcoin normally pumps the price

[opossum]

I seriously believe China wants to get hold of as many Bitcoins as possible by spreading FUD about banning BTC, and buying cheap coins at the same time.

The Chinese government likely has little interest in purchasing large amounts of bitcoin as their overall trade surplus is many times larger then the market cap of bitcoin therefore would not be able to purchase any amount of bitcoin that would be a significant portion of their foreign currency reserves

[pazor_true]

btcchina.com is down -> GAME OVER -> another mt.gox ?
 

[dropt]

btcchina.com is down -> GAME OVER -> another mt.gox ?
 

No.

[lyth0s]

I seriously believe China wants to get hold of as many Bitcoins as possible by spreading FUD about banning BTC, and buying cheap coins at the same time.

The Chinese government likely has little interest in purchasing large amounts of bitcoin as their overall trade surplus is many times larger then the market cap of bitcoin therefore would not be able to purchase any amount of bitcoin that would be a significant portion of their foreign currency reserves

It could be used as a method of capital flight. Buy bitcoin in china, make purchases with bitcoin outside of china. Capital move success.

Also China's elite could still have ties to buy bitcoin as their government is very corrupt and a 5 billion dollar market cap is enough for a few millionares to move 100,000's of dollars into. I'm not saying that's happening, but it is a possibility for now and in the future.

[qxzn]

Do they have fees to trade? If not, it's fake volume.

they have fees and I suspect they have fake volume too

Actually they don't have any trade fee:

https://vip.btcchina.com/page/fee

Trading Fee

    BTC/CNY: Free.
    LTC/CNY: Free.
    LTC/BTC: Free.

[waaat?]

Now there is about 10,000 to sell and less than 2,000 to buy. So I guess market depth is meaningless unless someone has some technical expertise.

depth says: liquidity is gone.
Meaning: chinaman does not want to buy at these prices.

on the sellside we see a lot resistance. So i think it' sunlikely to rise on that. 

note: i am not a brainwashed believer. If it dumps it dumps. I am not emotionally attached to my coins. There are plenty. I can always buy bitcoin. It's not like they would be sold out anytime soon.

[botany]

Now there is about 10,000 to sell and less than 2,000 to buy. So I guess market depth is meaningless unless someone has some technical expertise.

Liquidity could increase once certain price triggers are met.
There could be a lot of orders which come in once there is some price movement.

[Mieehayii]

i think they have fees now, they use to be no fee


insane volume right now

they are still free trade now