This is currently still going on. while Gox is at 540 and Stamp at 516, Bitfinex is at 568.
It looks like some kind of manipulation of a very thin market, or somebody knows more and wants to get the coins out.
Not too sure, but watching.
Topic: Bitfinex price above Gox, and the strange huge wall at $520 (Read 735 times)
Hey all,
Not sure how many bfx traders are on here, but did anyone else notice the bizarre goings-on at BFX, which seem to be ongoing?
Right now BFX price is 485, Gox is 469 - you can trade your goxbux for bfx bux at a ~5% profit! At times the divergence has been as high as 8%.
The other thing that I thought was very strange, was that just as China was crashing, and Gox was following suit, down well into sub $500 territory, BFX wouldn't budge - a 750BTC or so buy wall appeared at $510. And unlike other walls, this one stuck around and was sold into! Even crazier, while it was being sold into, it moved UP, not down, first to 515, then to 520! It even hopped to 530 for a bit but didn't stay there, coming to rest at 520 and not vanshing, but being entirely filled.
Needless to say I shorted the shit out of the wall while Gox prices dropped to ~560. The really crazy thing is people were putting in bids above the wall!! It took a long time to fall, but fall it did and as you all know we're now sub $500. But BFX prices are still above Gox!
Does anyone have any explanation for the above strange occurences? They started after bitstamp went down. My theory is that it is hinese arbitrageurs, who were in fact there on BFX all along, but their effect was greatly dampened by the Bitstamp volume. Now Bitstamp is gone they're having a much greater effect.
Finally, if any of you have BTC balance on BFX and fiat at Gox - you should buy/sell at Gox/Bfx at the same moment, send the coin to BFX and repeat - arb the shit out of this nonsense! [Disclosure: currently short BTC
]
Not sure how many bfx traders are on here, but did anyone else notice the bizarre goings-on at BFX, which seem to be ongoing?
Right now BFX price is 485, Gox is 469 - you can trade your goxbux for bfx bux at a ~5% profit! At times the divergence has been as high as 8%.
The other thing that I thought was very strange, was that just as China was crashing, and Gox was following suit, down well into sub $500 territory, BFX wouldn't budge - a 750BTC or so buy wall appeared at $510. And unlike other walls, this one stuck around and was sold into! Even crazier, while it was being sold into, it moved UP, not down, first to 515, then to 520! It even hopped to 530 for a bit but didn't stay there, coming to rest at 520 and not vanshing, but being entirely filled.
Needless to say I shorted the shit out of the wall while Gox prices dropped to ~560. The really crazy thing is people were putting in bids above the wall!! It took a long time to fall, but fall it did and as you all know we're now sub $500. But BFX prices are still above Gox!
Does anyone have any explanation for the above strange occurences? They started after bitstamp went down. My theory is that it is hinese arbitrageurs, who were in fact there on BFX all along, but their effect was greatly dampened by the Bitstamp volume. Now Bitstamp is gone they're having a much greater effect.
Finally, if any of you have BTC balance on BFX and fiat at Gox - you should buy/sell at Gox/Bfx at the same moment, send the coin to BFX and repeat - arb the shit out of this nonsense! [Disclosure: currently short BTC
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