During a dead cat bounce to the amount of bids on all the major exchanges suddenly double in fiat value? Do 20k btc walls form above the low? Did this happen in April?
Yes, we had a bullish run to $160.
If it's obvious, it's not a trap.
Topic: China is not participating in this "Dead Cat Bounce" - page 2. (Read 4151 times)
Yes, we had a bullish run to $160.
If it's obvious, it's not a trap.
During a dead cat bounce to the amount of bids on all the major exchanges suddenly double in fiat value? Do 20k btc walls form above the low? Did this happen in April?
So everyone here is absolutely sure that it's a dead cat bounce? 
Am I the only one that thinks this is bearish?
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
Well, it hasn't fallen more than 50%, so doesn't look like bursting of a bubble and price started growing again. So, technically it was a correction.
Am I the only one that thinks this is bearish?
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
Agree, I think medium term trend is down. In addition, people keep pointing to the media hype. Unfortunately this also works in cycles. Pressure on editors will move to writing contrary viewpoints, or they will move onto other topics for 6 months.
The amount of btc in buy orders on btcchina has nearly doubled in two days. The same thing has happened on other exchanges. Bitstamp went from 7 million dollars to 14 million dollars. btce went from 3.5 million dollars to 6.5 million dollars. Gox is now sitting at 29 million dollars (from 27). Any kind of crash would be met with massive support and not go very deep.
Any kind of crash? Maybe the manipulators waited for the new fiat to reach the exchanges to take maximum profits, and soon it will be harvest time.
Maybe someone figured out an arb opportunity? I mean with the 50% premium at times, it would make a lot of sense to me.
Am I the only one that thinks this is bearish?
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
I do as evidenced by this statement in my post above:
"I'm thinking that if today's rally was significant that the Chinese would participate too. Perhaps this means that the non-Chinese exchanges will eventually decrease in line with the Chinese price."
Am I the only one that thinks this is bearish?
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
The volume was always low. People just stuck their fingers in their ears and didn't want to hear it.
I'm referring to the fiat number actually. Price halfing + fiat doubling = 4 times more support in btc.
The amount of btc in buy orders on btcchina has nearly doubled in two days. The same thing has happened on other exchanges. Bitstamp went from 7 million dollars to 14 million dollars. btce went from 3.5 million dollars to 6.5 million dollars. Gox is now sitting at 29 million dollars (from 27). Any kind of crash would be met with massive support and not go very deep.
Of course the number has nearly doubled -- the price has nearly halved.
That doesn't mean there is more fiat on the order books. It means the buyers have devalued BTC and are only willing to buy lower. The real question is, how will this trend continue?
The amount of btc in buy orders on btcchina has nearly doubled in two days. The same thing has happened on other exchanges. Bitstamp went from 7 million dollars to 14 million dollars. btce went from 3.5 million dollars to 6.5 million dollars. Gox is now sitting at 29 million dollars (from 27). Any kind of crash would be met with massive support and not go very deep.
China is participating in their own way:
This number has nearly doubled since the crash.
This number has nearly doubled since the crash.
what does this mean?
China is participating in their own way:
This number has nearly doubled since the crash.
This number has nearly doubled since the crash.
Which is more likely? Americans/etc have started buying, or Chinese have looked at the spread and realized their exchange is overpriced?
Bitstamp had a crap ton of money (about 4 days worth) finally hit their exchange today. Meanwhile, the Chinese are watching the US markets in my opinion and they are arbitraging them as well.
yeah...4fkn days too late....I was chomping at bit to get back onboard bubble gravy train right up until it became plainly obvious that a flash crash was afoot.
Which is more likely? Americans/etc have started buying, or Chinese have looked at the spread and realized their exchange is overpriced?
Bitstamp had a crap ton of money (about 4 days worth) finally hit their exchange today. Meanwhile, the Chinese are watching the US markets in my opinion and they are arbitraging them as well.
Which is more likely? Americans/etc have started buying, or Chinese have looked at the spread and realized their exchange is overpriced?
Its very bullish that China is not participating in my opinion. The Chinese need to come back in line with the other exchanges for us to move upward. Look at the 2 pullbacks thus far in this rally. Both happened when the exchanges got way out of wack. It just creates more uncertainty and instability.
No doubt, when we go up again, China will break out from the pack, but for now they need to let the other exchanges catch up.
Also, I am SURE some people are involved in arbitrage right now, and as things are moving more slowly arbitrage is going to bring the markets back in line.
No doubt, when we go up again, China will break out from the pack, but for now they need to let the other exchanges catch up.
Also, I am SURE some people are involved in arbitrage right now, and as things are moving more slowly arbitrage is going to bring the markets back in line.
Non-Chinese exchanges had a bounce from the 400's. China is only up slightly from its low.
True however China's price in USD equivelent is still higher than any USD exchange (4200 CNY is ~$690 USD).
What is interesting is the spread between exchanges has narrowed.
From the bottom China rose the least and Bitstamp rose the most. The gap between all three exchanges is now smaller than at the peak.
Not sure what that means (if anything) but I thought it interesting.
Good point about the spread. At the risk of mentioning the obvious, when a lower exchange increases and the higher exchange only increases slightly you will have less of a gap. What that means for the future price I don't know.
I'm thinking that if today's rally was significant that the Chinese would participate too. Perhaps this means that the non-Chinese exchanges will eventually decrease in line with the Chinese price.
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