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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23163. (Read 26623505 times)

legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.

Pathetic. That exchanges real volume is probably <20K a day, not >200k

If you don't charge fees you will get bots trading tiny amounts of bitcoins thousands of times a day to take advantage of minor price movements. The volume is not fake, although you might say it's artificially inflated.
legendary
Activity: 1281
Merit: 1046
legendary
Activity: 1148
Merit: 1001
things you own end up owning you
Amazing, Price going down, less shorts and same amount of longs...Explain that to me


Shorts




Longs




Compare it to my post before.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
did put some buy orders at 76 dollars

Buying at 76 would be pretty sweet

Not if it keeps dropping.

I am starting to think people in Bitcoin are complete idiots. Bitcoins are only cheap if they are significantly cheaper than their value. If it plummets to $76 from $1200 then there is no reason why it won't drop below $10 and stay there. The value of BTC is somewhat dependent on it not being slaughtered to the point where it is or is conceived to be completely unreliable as a store of value. I am not suggesting that it needs to be more stable than 1st world fiat, but stable enough so that you can buy some and spend it within a month or two without risking losing more than you would pay in credit card fees or Western Union fees.

So what you want to do now is put on your Brave Pants and buy some coins to help push that mofo to Winkeltosser Heaven!! $40000 Biatsch!!!!
legendary
Activity: 1148
Merit: 1001
things you own end up owning you
Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.

Pathetic. That exchanges real volume is probably <20K a day, not >200k

I remember Bobby Lee the CEO of BTCChina talking about how phantom orders and how Chinese exchanges such as OKcoin and Huobi have no shame fake their order book(phantom orders) and volume... now it seems that they started doing the same in order to not fall behind.
sr. member
Activity: 378
Merit: 254
Coinbase sends Bitcoiners their regards

legendary
Activity: 896
Merit: 1000
Whee, glad I kept my short open from $300.

According to BFXData, this massive dump is not the product of new shorts. Actually, about 300BTC of shorts closed during the dive. And $100k of new longs.

So those knife catchers are actually just people closing shorts and going long.
legendary
Activity: 1281
Merit: 1046
Ok it is Wednesday now. Always big volume day historically.

I'm thinking we will see a major pump today. Prepare your fiat/coins!

I bought in just now at 258.

Keep holding and never lose hope

 Cheesy  Cheesy
legendary
Activity: 1092
Merit: 1000



'chinese panic' flash dumps have taken out 260.
hero member
Activity: 924
Merit: 1000
Whee, glad I kept my short open from $300.
legendary
Activity: 896
Merit: 1000
Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.

Pathetic. That exchanges real volume is probably <20K a day, not >200k
full member
Activity: 134
Merit: 100
lots of people trying to catch the knive
sr. member
Activity: 350
Merit: 250
running all the stops
hero member
Activity: 569
Merit: 505
Seems to get serious now Grin
legendary
Activity: 896
Merit: 1000
BTC3,500 dump on BFX just now
legendary
Activity: 1281
Merit: 1046
The price should've been $210 by now, but Tim Draper keeps buying them tulips out of frustration.
legendary
Activity: 896
Merit: 1000


Edit: I just realized that the USD swaps may include LTC longs as well.

I think your correct

Good point. Probably no more than $200,000 of it though, so very insignificant.

Look at the ltc short interest and compare it to btc
Yes, and the number you'd get is like $100k USD LTC longs if the ratio is kept the same.
jr. member
Activity: 55
Merit: 1
I'm trying to decide when to buy in again
sr. member
Activity: 325
Merit: 255
Man it gets quiet in here when the price is teetering on the edge either up/down.

Everyone too busy chewing their finger nails off?
hero member
Activity: 798
Merit: 1000

Where there are losers there are winners too.

Tru, but the market requires 'sustainable shearing' and/or lots of new lambs in order to function at its best  Cheesy



Interesting. So then these 14,000 contracts represent real coins?

They represent approx 4.5k of BTC price exposure, but can be purchased on margin.
It is still by no means a small position. It's bigger than any of their top 10 holders (biggest is 13k contracts, the rest are all 3-5k)
I guess that 13k might be the other side of this trade !
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