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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17393. (Read 26686413 times)

hero member
Activity: 1022
Merit: 725

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

So why send their BTC on the exchange with the lowest bitcoin price ?
legendary
Activity: 2604
Merit: 1748
-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.



But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

It makes sense to pull out of any exchange with 'problems'.  In a bank run (whether justified or not) only the first people in the queue get paid.

I've pulled out what I had on there already - I am sure they might well fix it, but I don't trust exchanges and it's probably wise not to.

legendary
Activity: 1162
Merit: 1000
-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.



But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.

legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?

Yeah.. weird because you seem to be trying to find scams and conspiracies with little to no evidence, merely for the sake of spreading bullshit and exaggerating rather than attempting to fleshing out some of these matters and attempting to put them in proper perspective.
legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.
legendary
Activity: 1680
Merit: 1045
looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
Bitstamp wants to dump but market still is shaping by bitfinex price.

Nope.

The fact that no one is following the Bearwhale on Stamp does not mean that Bitfinex is leading.  Sounds a bit ridiculous at worse and premature at best to conclude such.

It just means that no one is following the Bearwhale on Stamp.

In the end, I don't know how long it is going to take to resolve this ongoing situation of the bearwhale(s) on Stamp continuing to dump, and none of the other exchanges seem to be following.

In the last couple of days, we have had several dumps bring the price on Stamp from the $1180s to the lower $1160s and then a couple times to the lower $1140s and then twice (in the past 4 hours ) to the lower $1150s .

It's like everyone else is continuing to ignore the Stamp dumps, and maybe the bearwhale on Stamp happens to be much too small - and if such bearwhale was bigger (s/he) could put some coins on other exchanges and coordinate such a dump in order that other exchanges might follow. In the meantime, such Stamp bearwhale is likely losing a lot of money, if no one is following or if no one follows in the end.

In the end, I do not know what is going to happen, because sometimes such dumps seem to be unsuccessful, at first, but in the end, they result in the rest of the market to follow... a kind of continued eating a way at buy support.. but if no one else agrees to dump, then sometimes it just emboldens buyers to buy, then the Stamp dumps increasingly lose credibility and the buyers end up pushing the price back upwards.

I remain a bit torn in my thinking about which way the whole market will end up going in the short term, but as I type this post, I also remain a bit inclined to consider this matter as most likely resolving against the Bitstamp whale.. which means we are going to go up - at least in terms of the Stampwhale getting on board with the rest of the exchanges.. ..

It still remains too early to see exactly how the situation will play out, but the bitstamp whale(s) is (are) the ones that are most out of line at the moment. 

Further, I do appreciate that there was more than one point in which there was nearly a $70 difference between Bitfinex and Stamp.. .. and yeah, that is crazy that the Bitstamp whale(s) were dumping into the  lower  $1140s while the Bitfinex whale(s) were pumping into the upper $1210s.
full member
Activity: 154
Merit: 100
Bitstamp wants to dump but market still is shaping by bitfinex price.
legendary
Activity: 1260
Merit: 1000
Except for the fact that they fucked up both 1broker and bitmex customers. Luckily for them their losses are going to be compensated by the owner from their pockets.

If you're trading on a bucketshop, the term "victim" is usually more applicable than "customer".
legendary
Activity: 1667
Merit: 1008
Stoned & Stranged
What in the hell is going on with Coinbase/GDAX right now?

OMG!!!!!!!!!!!

It is called pre-announced scheduled maintenance.


OMG!!!!!!!!!!!

OMG!!!!!!!!!!!

OMG!!!!!!!!!!!
 Roll Eyes

No, it's called a colossal fuck-up that resulted in a flash crash on GDAX.

You seem to be exaggerating.

In this case, GDAX completely cleared its books - so when it came back online, there would have been no orders... and yes, I see that there appeared to have been some kind of selling all the way down to $.06..

Would have been nice to pick up a few BTC at those kinds of prices...

I would not call that a "colossal fuck-up." because they came back online as scheduled... the order situation seems to have been some kind of aberration based on a thin order book..

Except for the fact that they fucked up both 1broker and bitmex customers. Luckily for them their losses are going to be compensated by the owner from their pockets.
legendary
Activity: 1260
Merit: 1000
$46 spread between Finex and Bitstamp.  I'm feeling a new Gox-like scandal incoming for Bitfinex.  Nobody should have been allowing that crooked exchange to lead the market in the first place.
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
What in the hell is going on with Coinbase/GDAX right now?

OMG!!!!!!!!!!!

It is called pre-announced scheduled maintenance.


OMG!!!!!!!!!!!

OMG!!!!!!!!!!!

OMG!!!!!!!!!!!
 Roll Eyes

No, it's called a colossal fuck-up that resulted in a flash crash on GDAX.

You seem to be exaggerating.

In this case, GDAX completely cleared its books - so when it came back online, there would have been no orders... and yes, I see that there appeared to have been some kind of selling all the way down to $.06..

Would have been nice to pick up a few BTC at those kinds of prices...

I would not call that a "colossal fuck-up." because they came back online as scheduled... the order situation seems to have been some kind of aberration based on a thin order book..
newbie
Activity: 17
Merit: 0
What in the hell is going on with Coinbase/GDAX right now?

OMG!!!!!!!!!!!

It is called pre-announced scheduled maintenance.


OMG!!!!!!!!!!!

OMG!!!!!!!!!!!

OMG!!!!!!!!!!!
 Roll Eyes

No, it's called a colossal fuck-up that resulted in a flash crash on GDAX.
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
What in the hell is going on with Coinbase/GDAX right now?

OMG!!!!!!!!!!!

It is called pre-announced scheduled maintenance.


OMG!!!!!!!!!!!

OMG!!!!!!!!!!!

OMG!!!!!!!!!!!
 Roll Eyes
newbie
Activity: 17
Merit: 0
What in the hell is going on with Coinbase/GDAX right now?
legendary
Activity: 1512
Merit: 1012
Sorry guys, we must wait a little more ...

sr. member
Activity: 392
Merit: 250
just doesnt look bullish the last couple of weeks or months (march+april).

Hit a new all-time high. I'd say that's bullish.
After the 150$ dip bitcoin wasn't bearish anymore .. if you know what I mean
Yes I know what you mean but I an still in doubt. I keep holding tho.
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