Anyone care to guess the bottom on this one?
Hard to guess since China is still asleep. Sub-500 for sure.
When they wake up and see the price on the non-Chinese exchanges the fun will really begin.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30882. (Read 26711946 times)
December 18, 2013, 06:52:13 PM
Hard to guess since China is still asleep. Sub-500 for sure.
When they wake up and see the price on the non-Chinese exchanges the fun will really begin.
December 18, 2013, 06:52:08 PM
Anyone care to guess the bottom on this one?
bout tree fiddy
December 18, 2013, 06:51:13 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.
And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.
The problem is that you cannot efficiently move fiat between exchanges.
I figure such spreads are possible for small periods of time -- during times of very high volatility on BTCchina-- at the very least, until arbitrage traders closed them up. But I just don't know if it's even a possibility.
December 18, 2013, 06:50:13 PM
Anyone care to guess the bottom on this one?
December 18, 2013, 06:49:11 PM
December 18, 2013, 06:48:23 PM
www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
Honestly, I'm at a loss for how ask depth is a useful indicator here. We have no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
This seems very anecdotal. I'm not sure I see the evidence.
Doesn't ask depth dropping make sense when asks are pulled to market sell? Does it make sense to keep your limit orders at $1500 on the book if you are willing/planning to dump them lower?
December 18, 2013, 06:44:15 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.
And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.
The problem is that you cannot efficiently move fiat between exchanges.
http://reuters.com/article/2013/12/11/us-china-bitcoin-idUKBRE9BA0B020131211
December 18, 2013, 06:43:44 PM
+ I really think Chinese are cashing out back to banks or any way they can to get back to fiat. No doubt many have overseas accounts and are, getting it there before their gov. makes more new rules. These sales are not money kept in exchanges imho, it's money that is leaving the game for a while if not for good.
December 18, 2013, 06:43:42 PM
market is stable, not overbought/sold and price is creeping up
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
come back down to earth. It won't be back above 650 for a long time, like 2014. maybe
statements like these are always bound to fail when it comes to btc price
Maybe. but the price before btc fever in china was about $180. It's now a month later and we hit over $1200, now it's $550 and it was dropping before this news. The latest news today is just the short term nail in the coffin!
I have no doubt BTC will be back to $1200 and beyond, but to say this is happening anytime soon is just wishful thinking.
you're saying that bitcoin will not be above 650 in 2014?
btw. i did not mention 1200.
I fail to see how... we have 12 days to new year. 7 billion dollars (50%) wiped from the market cap in 12 days. and it was still dropping before the latest news. The people in China investing are not kids with PC's and a few $$ they were real investors that could not give a shit about btc they just wanted to make money.
I think it's doubtful we will see $650 anytime soon. It's Christmas too, so some people will cash out a little for the festive season and new year.
But if you think otherwise... tell me where you think the new investment will come from.
December 18, 2013, 06:39:10 PM
market is stable, not overbought/sold and price is creeping up
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
come back down to earth. It won't be back above 650 for a long time, like 2014. maybe
statements like these are always bound to fail when it comes to btc price
Maybe. but the price before btc fever in china was about $180. It's now a month later and we hit over $1200, now it's $550 and it was dropping before this news. The latest news today is just the short term nail in the coffin!
I have no doubt BTC will be back to $1200 and beyond, but to say this is happening anytime soon is just wishful thinking.
you're saying that bitcoin will not be above 650 in 2014?
btw. i did not mention 1200.
I fail to see how... we have 12 days to new year. 7 billion dollars (50%) wiped from the market cap in 12 days. and it was still dropping before the latest news. The people in China investing are not kids with PC's and a few $$ they were real investors that could not give a shit about btc they just wanted to make money.
I think it's doubtful we will see $650 anytime soon. It's Christmas too, so some people will cash out a little for the festive season and new year.
But if you think otherwise... tell me where you think the new investment will come from.
December 18, 2013, 06:35:53 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.
And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.
The problem is that you cannot efficiently move fiat between exchanges.
December 18, 2013, 06:33:39 PM
www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
Honestly, I'm at a loss for how ask depth is a useful indicator here. We have no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
December 18, 2013, 06:31:17 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
December 18, 2013, 06:30:56 PM
market is stable, not overbought/sold and price is creeping up
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
come back down to earth. It won't be back above 650 for a long time, like 2014. maybe
statements like these are always bound to fail when it comes to btc price
Maybe. but the price before btc fever in china was about $180. It's now a month later and we hit over $1200, now it's $550 and it was dropping before this news. The latest news today is just the short term nail in the coffin!
I have no doubt BTC will be back to $1200 and beyond, but to say this is happening anytime soon is just wishful thinking.
you're saying that bitcoin will not be above 650 in 2014?
btw. i did not mention 1200.
I think he was trying to said that bitcoin wouldn't go above 650 til next year (2 weeks from now
).Going to bed and hoping not to see something like $300/btc in 6 hours :<
December 18, 2013, 06:30:02 PM
December 18, 2013, 06:29:24 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
Arbitrage has never been possible between the western and the Chinese exchange, the only one bragging about how he was doing arbitrage was rpietila, demonstrating how he's just full of shit.
Then he tried to explain how he did "arbitrage": he sold on china and then waited for the price spread to be 0 or near 0, to then transfer the BTC to Bitstamp and sell there... LOL, if that's arbitrage my mom is a jet fighter.
December 18, 2013, 06:28:52 PM
Will the majority of the sellers buy back in after it's clear the bottom has been hit? That's the real question here.
There's some much bigger questions than that here, not ones for this subforum though ;/
Probably better just to wait and see how the whole thing plays out in the long term, reset's aren't a bad thing, who's finger's on the reset buttons matters though. Altcoins ftw, this whole money things overrated.
Is there anywhere you can overlay live charts? Looks like something special might have just happened, gox and stamp are still closely matched but China's doing its own thing.
Do you have a thread where you are discussing the bigger questions? I don't have time to watch what you were seeing happen, but would like to be able to keep up . . .
It would need extra tinfoil hats, looks mostly harmless though.
For the trading, watch what the bots are doing, their patterns are fairly obvious with various functions such as damping harmonics, lines, curves and more complex patterns. They don't seem to do short term profit so there's stuff like shaping oscillations to move trends cheaply, they've been brutal on the way down but they're not hammering things around now.
I am a bit curious what the endgame of those bots was/is. Seems expensive if someone is simply trying to force a trend. I didn't see how much was being burnt in the process, so impossible to speculate on whether it would be beneficial to whoever sold the 10k at the top or not. Of course the tinfoil hat idea would be that someone is trying to drive bitcoin to $0 and does not care how much it cost.
December 18, 2013, 06:25:09 PM
market is stable, not overbought/sold and price is creeping up
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
volume ath was today, isn't that good indicator of bot? maybe it bounces to 800+ and then consolidates somewhere at 600 +/-100
come back down to earth. It won't be back above 650 for a long time, like 2014. maybe
statements like these are always bound to fail when it comes to btc price
Maybe. but the price before btc fever in china was about $180. It's now a month later and we hit over $1200, now it's $550 and it was dropping before this news. The latest news today is just the short term nail in the coffin!
I have no doubt BTC will be back to $1200 and beyond, but to say this is happening anytime soon is just wishful thinking.
you're saying that bitcoin will not be above 650 in 2014?
btw. i did not mention 1200.
December 18, 2013, 06:23:30 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
BTCchina used to be higher than gox as I remember it. by quite a bit. now it's 100 lower.
December 18, 2013, 06:21:01 PM
Were in for another sell off
With which coins?www.blockchained.com
For the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
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