This thing is currently way overbought and mid-term overvalued considering the chinese exchanges current state of affairs..
No more fresh CNY, not even bank transfer cause the exchanges never used them and won't be allowed.
No more frenzy buying by china gamblers, no more capital control bypass trick. Remember they were the one that ignited this baby.
A $100-$150 difference in price tells volumes,that china is weak though they account for 20%-35% of the btc market.
In the coming days they will be dumping on other exchanges, especially on bitstamp to get USD at the best rate. Selling pressure will be overwhelming.
All chinese exchanges reinstated fees, to milk while they can, until they move to HK with NO big fat pocked china man ot simply close shop! There is no way around that.
Yes i'm saying all that after i sold and happy in fiat without loss . And don't worry i won't buy back your coins until lower lows are achieved
You can thank me later for saving you from losing some $$$
Makes sense. But it also makes sense that they would already be dumping. It's bitcoin, they can send it from one exchange to the other. Where is the dump?
takes a while to get verified on another exchange
Don't have to be verified to deposit btc.