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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22566. (Read 26684075 times)

legendary
Activity: 2380
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legendary
Activity: 1456
Merit: 1000
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 344
Merit: 250
The OKCoin triangle will break in some hours.



There are larger triangles, though, so $290 seems more likely than $300.
legendary
Activity: 2380
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legendary
Activity: 1414
Merit: 1000
Are we going to 300 soon?


im just glad we are not moving backward to 233  Grin
Yes it seems pretty stabilized above 265.
legendary
Activity: 1456
Merit: 1000
Are we going to 300 soon?


im just glad we are not moving backward to 233  Grin
legendary
Activity: 1414
Merit: 1000
Are we going to 300 soon?
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 910
Merit: 1003
I would think that, in China, money is steadily leaving the system: Chinese traders seem to be gradually selling and taking their cash out of the exchanges.  This feeling is not based on the exchange volumes, but simply becuse of the decay of the China bubble (which seems to be too fast to be due to miner dumping alone).   The rest of the world should still be a net buyer, but there is no data, really, and apparently it can barely absorb what the Chinese and the miners are selling.
There is no "money" entering nor leaving the bitcoin system. Bitcoin is money, so is USD, CNY etc. What happens is that value moves from one money system to another. When the revaluation of money system is not the same in all actors' minds, there has to be trades. If all actors at the same time and to the same degree change their valuations, there need not be many trades.

Indeed you are right, there is no USD or CNY in the "bitcoin system", so there is no sense saying that money is going into or out of it. I should have said instead that, in my opinion, more and more Chinese traders must be selling their holdings for whatever others want to pay, and dropping out. 
legendary
Activity: 1260
Merit: 1116
wHERE'S MY MOTHERFUCKING sATURDAY NIGHT DISCOUNT?? 

I'm as disappointed as you are. Shameful Angry
legendary
Activity: 1106
Merit: 1007
Hide your women
wHERE'S MY MOTHERFUCKING sATURDAY NIGHT DISCOUNT?? 
full member
Activity: 168
Merit: 100
www.secondstrade.com - 190% return Binary option
I have some extra fiat... buy now or wait for a dump?

Seems you will be waiting forever then. You should get in now. Only good news have been coming lately.
legendary
Activity: 1792
Merit: 1047
I have some extra fiat... buy now or wait for a dump?

The mind plays tricks on us.

Here is some proof. Cheesy

Is the A square and the B square the same shade?

legendary
Activity: 2380
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legendary
Activity: 1246
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103 days, 21 hours and 10 minutes.
I have some extra fiat... buy now or wait for a dump?

You can probably get a better average from waiting a bit. 
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1512
Merit: 1005
I'm skeptical about comparing zero fee volume to non-zero fee volume.

To be clear: for short to mid term trading purposes, I absolutely don't doubt the relevance of CNY volume.

But for the longer term view of market volume, in my opinion, the "costly" volume of the three big USD exchanges is a good measure of how much money is "flowing into the market". (Sidenote: I really need to include Coinbase from now on)

That said, I know just discarding CNY (or permanently zero-fee USD) volume is not ideal. I have been trying to come up with ways to 'discount' the Chinese volume by some factor to make it comparable, but nothing ever really came out of it that looked satisfying to me.

Is there a relation between exchange volume and the amount of money coming into the system (or being drained from it)?  Volume is generally up when the price is changing, up or down; and that may be cause and effect at the same time.  But figuring ot the net input money flow seems to be a complicated computation at least...

I would think that, in China, money is steadily leaving the system: Chinese traders seem to be gradually selling and taking their cash out of the exchanges.  This feeling is not based on the exchange volumes, but simply becuse of the decay of the China bubble (which seems to be too fast to be due to miner dumping alone).   The rest of the world should still be a net buyer, but there is no data, really, and apparently it can barely absorb what the Chinese and the miners are selling.

 

There is no "money" entering nor leaving the bitcoin system. Bitcoin is money, so is USD, CNY etc. What happens is that value moves from one money system to another. When the revaluation of money system is not the same in all actors' minds, there has to be trades. If all actors at the same time and to the same degree change their valuations, there need not be many trades.
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