HairyMaclairy
Legendary
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Activity: 1442
Merit: 2285
Degenerate bull hatter & Bitcoin monotheist
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January 04, 2017, 09:05:50 PM |
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This correction (hopefully just that) is pretty welcome. Was getting too bubbly..
Interesting days. I have buy orders back in the high triples which were left behind and I just let them sit there. Let's see if they get a visit from the volatility fairy. |
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JCviggen
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January 04, 2017, 09:07:28 PM |
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This correction (hopefully just that) is pretty welcome. Was getting too bubbly..
Not that China being 110 dollars higher than the highest USD exchange looks particularly normal. |
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snipie
Legendary
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Activity: 3780
Merit: 1157
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January 04, 2017, 09:08:36 PM |
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This correction (hopefully just that) is pretty welcome. Was getting too bubbly..
Euuh hope so The bitcoin price went $30 down since the last time I checked it... I should say that the rise was very quick also In the other hand the price at the Chinese exchanges is over $1200! |
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gembitz
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January 04, 2017, 09:11:02 PM |
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 ^don't you read Chinese newspaperzzz?  //^ BTC*$1500 resistance* |
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eddie13
Legendary
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Activity: 2296
Merit: 2274
BTC or BUST
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January 04, 2017, 09:11:15 PM |
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It makes me wonder if the "official" cny/usd exchange rate isn't just a fixed manipulated lie and what we are seeing as a spread between the chinese exchanges and the western exchanges more realistically represents the value difference of said currencies, in the real world..
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HairyMaclairy
Legendary
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Activity: 1442
Merit: 2285
Degenerate bull hatter & Bitcoin monotheist
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January 04, 2017, 09:13:03 PM |
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This correction (hopefully just that) is pretty welcome. Was getting too bubbly..
Euuh hope so The bitcoin price went $30 down since the last time I checked it... I should say that the rise was very quick also In the other hand the price at the Chinese exchanges is over $1200! Economics 101 should teach us that deflationary expectations of the yuan should push a widening arbitrage gap between Western and Chinese exchanges. |
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RGR991
Member
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Activity: 99
Merit: 10
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January 04, 2017, 09:13:35 PM |
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Dbl top and back down to 200 before the next leg  even though China exchanges have invalidated that theory....  |
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spiderbrain
Legendary
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Activity: 889
Merit: 1013
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January 04, 2017, 09:13:43 PM |
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100 $ arbitrage, China vs US. too much
That's if you believe the official CNY/USD exchange rate, which no one does anyone. Bitcoin is getting a leg up from Chinese petite bourgeoisie using it as a way of avoid capital controls before China rapidly devalues. Thanks PBOC for the pump  |
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JimboToronto
Legendary
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Activity: 4620
Merit: 6113
You're never too old to think young.
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January 04, 2017, 09:13:49 PM |
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There's always been a big gap between prices in China and the western exchanges but this is getting ridiculous. Huobi is currently over $100 higher than any of the western exchanges.
There's no correction happening at Huobi.
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monbux
Legendary
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Activity: 1736
Merit: 1029
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January 04, 2017, 09:14:46 PM |
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100 $ arbitrage, China vs US. too much
There are some people out there making bare cash. Again, gotta quote Mr. Buffet here: “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” |
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spooderman
Legendary
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Activity: 1722
Merit: 1047
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January 04, 2017, 09:17:06 PM |
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There's always been a big gap between prices in China and the western exchanges but this is getting ridiculous. Huobi is currently over $100 higher than any of the western exchanges.
There's no correction happening at Huobi.
shit you're right, wtf |
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molecular
Donator
Legendary
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Activity: 2800
Merit: 1023
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January 04, 2017, 09:17:30 PM |
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It makes me wonder if the "official" cny/usd exchange rate isn't just a fixed manipulated lie and what we are seeing as a spread between the chinese exchanges and the western exchanges more realistically represents the value difference of said currencies, in the real world..
yes, likely. Isn't that awesome: bitcoin brings transparency to other markets and uncovers manipulation. |
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Denker
Legendary
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Activity: 1442
Merit: 1016
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January 04, 2017, 09:18:46 PM |
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This correction (hopefully just that) is pretty welcome. Was getting too bubbly..
Absolutely! This ride was getting really scary! Some cooling down is good and healthy! The USD ATH is left as the last resistence we have to break for entering new uncharted territory. I can wait a few days or even weeks for that to happen.No reason to rush for it now. |
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RGR991
Member
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Activity: 99
Merit: 10
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January 04, 2017, 09:20:33 PM |
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China and their phantom volume leading the pump.
Either 1: China Gov't will crack down on the capital outflows into Bitcoin
2: A Major exchange will magically be "hacked" (seems to happen on every price spike)
or 3: ??
Tread carefully
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practicaldreamer
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January 04, 2017, 09:20:49 PM |
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Uphold looks interesting.
0.75% exchange fee is a little high but certainly looks convenient way to swap currencies.
isn't the ceo of uphold borderline anti bitcoin? i seem to remember him saying it would be nowhere in a few years, I don't think the guy was ever anti bitcoin - I think it was more a case of that he saw BTC as the oil in the machine - the everyday punter would be using it, but they wouldn't know they were using it, type of thing. |
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practicaldreamer
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January 04, 2017, 09:22:18 PM |
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or 3: ??
The Chinese Govt. themselves are filling up on BTC - just like they did on gold. There will, after all, only ever be 21 million of them. |
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HairyMaclairy
Legendary
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Activity: 1442
Merit: 2285
Degenerate bull hatter & Bitcoin monotheist
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January 04, 2017, 09:25:16 PM |
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There's always been a big gap between prices in China and the western exchanges but this is getting ridiculous. Huobi is currently over $100 higher than any of the western exchanges.
There's no correction happening at Huobi.
shit you're right, wtf Looks like BFX just figured out China was not taking its lead. |
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eddie13
Legendary
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Activity: 2296
Merit: 2274
BTC or BUST
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January 04, 2017, 09:32:13 PM |
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There's no correction happening at Huobi.
yeah and it sucks.. I sold my long at 8424 and it hasn't come down for me to buy back in like the other exchanges have.. Still holding all my profits in BTC but no leverage, BTC trading stake currently up 60%.. So not only has BTC gone up like 40% but I have made 60% more BTC at the same time.. I only wish I had the balls to trade with more capitol, more of my stash.. I'm afraid that if I do trade with more that it would effect me psychologically and I would be less successful.. |
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Killerpotleaf
Sr. Member
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Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
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January 04, 2017, 09:37:54 PM |
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JayJuanGee
Legendary
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Activity: 4340
Merit: 13908
Self-Custody is a right. Say no to "non-custodial"
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January 04, 2017, 09:40:15 PM |
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bfx over 1100 alrdy, and there are not much coins left on the sell side 16K shorts still need to close! i would love to meet with some of those shorters and have a beer or something. i mean, what drives them? what are the reasons to short btc in such a run? inexperience? gambling with money of other people? it be call dumbing |
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