Why the sudden spike in Chinese volume?

poncho32

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Quote from: dloghwak on November 27, 2015, 03:51:12 PM

Quote from: EternalWingsofGod on November 26, 2015, 02:03:06 AM

Likely some variance that averages out over the long term
There is also the possibility some trading bot was trying to execute a strategy of sorts, volume is somewhat artificial at 0% after all.

Of course it is some kind of trading bot trading its own coins back and forth.
No way is there so much 'real' volume with such low price movements.

Customer's bots are free to do what they like on the Chinese exchanges without fees. The other Chinese exchanges will charge customer's bots to fake the volume, but the exchanges own bots can do what they like for free. Gox charged fees but ran its own fake volume bots and any other unregulated exchange can do the same.

dloghwak

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Quote from: EternalWingsofGod on November 26, 2015, 02:03:06 AM

Likely some variance that averages out over the long term
There is also the possibility some trading bot was trying to execute a strategy of sorts, volume is somewhat artificial at 0% after all.

Of course it is some kind of trading bot trading its own coins back and forth.
No way is there so much 'real' volume with such low price movements.

eddie13

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BTC or BUST

Quote from: jt byte on November 25, 2015, 07:19:05 PM

Quote from: MatTheCat on November 25, 2015, 06:35:42 PM

Quote from: eddie13 on November 25, 2015, 06:27:42 PM

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

LOL!

Bitcoin gets a $10 rise from the depths of a horrendous correction, and that is it, $10K Bitcoin by 2016!

I know, the nieve think it is the pump everyone is waiting for when it was just a pass of gas by the whales. Cheesy

Correction is done. Look to the horizon.

Seems like we are going for a ride

Check out the 1 day candles chart there at www.okcoin.cn/market.do ...
The last 2 days volume have been higher than any days during the $500 pump, setting new exchange record volume there.
That is the highest volume BTC-fiat exchange in existance and has been for a while BTW..

NorrisK

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Quote from: ajareselde on November 25, 2015, 11:44:23 PM

Quote from: eddie13 on November 25, 2015, 06:27:42 PM

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

I guess anything is possible. If bitcoin went from 200 to 1200 back then in such a short time, there's a good hope that it will do it again, and even go way beyond - it's just a matter of time.
When i saw 2000 on gemini (still not knowing it was an error, sort of) i was surprisingly indifferent about it, like it was not such a big deal..
Guess there's a lot of people that feel the same way, that expect price rise by multiple folds, and not just doubling of the price.

Guess that is the effect of bitcoin nowadays. You stop thinking about the fiat value too much and think about how much bitcoin you have or still want to have.

Let's hope this is the start of a nice end of November run. People are getting their end year bonusses sometimes already, so this may help in boosting buy pressure.

EternalWingsofGod

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Likely some variance that averages out over the long term
There is also the possibility some trading bot was trying to execute a strategy of sorts, volume is somewhat artificial at 0% after all.

pitham1

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Quote from: pliv84 on November 25, 2015, 06:02:42 PM

HUGE spike in volume out of China over the past few hours. Even more than 2-3 weeks ago. Anyone know why?

How are you measuring volume 'out of' China?
If you are talking about volume at Chinese exchanges, these are unreliable because of the 0% transaction fee. It is very easy to fudge volume data.

jt byte

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Could of been just a test for this okcoin brush in.
It was about 5 hours long so there definitely something happening and usually the Chinese is the cause of these spikes.

ajareselde

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Quote from: eddie13 on November 25, 2015, 06:27:42 PM

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

I guess anything is possible. If bitcoin went from 200 to 1200 back then in such a short time, there's a good hope that it will do it again, and even go way beyond - it's just a matter of time.
When i saw 2000 on gemini (still not knowing it was an error, sort of) i was surprisingly indifferent about it, like it was not such a big deal..
Guess there's a lot of people that feel the same way, that expect price rise by multiple folds, and not just doubling of the price.

jt byte

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Activity: 994

Merit: 500

Quote from: MatTheCat on November 25, 2015, 06:35:42 PM

Quote from: eddie13 on November 25, 2015, 06:27:42 PM

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

LOL!

Bitcoin gets a $10 rise from the depths of a horrendous correction, and that is it, $10K Bitcoin by 2016!

I know, the nieve think it is the pump everyone is waiting for when it was just a pass of gas by the whales. Cheesy

Correction is done. Look to the horizon.

MatTheCat

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Quote from: eddie13 on November 25, 2015, 06:27:42 PM

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

LOL!

Bitcoin gets a $10 rise from the depths of a horrendous correction, and that is it, $10K Bitcoin by 2016!

eddie13

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Activity: 2296

Merit: 2262

BTC or BUST

Here we go for another ride

I hope..

Maybe the run to $500 was just a little test, and the test passed, now it's time for the real deal?

https://www.okcoin.cn/market.do

LFC_Bitcoin

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Quote from: pliv84 on November 25, 2015, 06:02:42 PM

HUGE spike in volume out of China over the past few hours. Even more than 2-3 weeks ago. Anyone know why?

Buy now or cry later my friend.

Meuh6879

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because they trust.

but be carefull at the discharge ... of sellllllllllllllllllllllllllllllllllllllllling before the last week of december.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: pliv84 on November 25, 2015, 06:02:42 PM

HUGE spike in volume out of China over the past few hours. Even more than 2-3 weeks ago. Anyone know why?

One can never be certain , but reading up on some yesterday's news from coindesk might be one of them http://www.coindesk.com/visa-europe-remittances-bitcoin-blockchain/
On top of that; the recent run to ~500$ still didn't dissipate, and it's possible that price didn't "found bottom" at 310-320, but rather how that was result of oversell..

“You never can tell with ~~bee's~~ bitcoin.”
― A.A. Milne, Winnie-the-Pooh

pliv84

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HUGE spike in volume out of China over the past few hours. Even more than 2-3 weeks ago. Anyone know why?

Topic: Why the sudden spike in Chinese volume? (Read 1014 times)