Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[magicmexican]

I dont even think anyone cares about the news, its going down because its time to go down

[y3804]

So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?

Most bank accounts have been closed already (April 14th). I think most are relying on China Merchants Bank now as their only recharge option

[coins101]

Can we do China banning Bitcoin rumours every Monday, about 10am.

Then on Friday, say 2pm, can we get all the Chinese exchanges to deny the rumours and confirm that their banking partners are fully on board and everything is running smoothly.

That would make for a great weekend with some extra beer money.

Thanks in advance.

You have got the days all mixed up.

Rumours of a ban start on Monday.

[windjc]

So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?

Most bank accounts have been closed already (April 14th). I think most are relying on China Merchants Bank now as their only recharge option

Is this true?  And if so, why is the China Merchant Bank still available?

[koryu]

Why should 470 hold?

imo 480 would be a fair correction without leaving the current trend. it is also equal to 3000cny, which is psychological important.

[mooncake]

This is the one.

关于火币网将暂停工商银行卡充值业务的公告

时间 ：2014-04-10 12:33:08 来源： 火币网

尊敬的火币网用户：

      火币网最新信息：
      今天上午10时左右接到工行中关村支行客户经理通知，接到上级行的通知，要求停止工行为火币网提供服务，在4月18日前完成火币网工行账户的销户。

      上午10点30分左右，火币网几位合伙人赶到工行中关村支行，与支行的客户经理当面沟通了解情况。

      上午12点，赶回公司发公告。发公告之前，未向任何用户或组织提前透露该信息，请广大用户监督。

      火币网将于下周一（4月14号）正式停止使用工行中关村支行账户充值和提现(用户工商银行帐号提现不受影响，我们将使用其他银行跨行转账到您的工行账户中)，目前为止其他银行暂时还不受影响，有最新消息火币网将在第一时间发布。
   

      火币网运营部
      2014/04/10

Forget about TA. It is the announcement by Huobi that is causing the drop.

[TERA]

Prices of assets are not just about long term projections but about present events and what the market can bear presently. It is about supply and demand. If 2/3 of the market and its volume suddenly vanishes then you are left with a much smaller market which can't possibly bear the current prices while providing liquidity to bitcoin users. I don't get what this has to do with 'fud'.

[mooncake]

This is the one.

关于火币网将暂停工商银行卡充值业务的公告

时间 ：2014-04-10 12:33:08 来源： 火币网

尊敬的火币网用户：

      火币网最新信息：
      今天上午10时左右接到工行中关村支行客户经理通知，接到上级行的通知，要求停止工行为火币网提供服务，在4月18日前完成火币网工行账户的销户。

      上午10点30分左右，火币网几位合伙人赶到工行中关村支行，与支行的客户经理当面沟通了解情况。

      上午12点，赶回公司发公告。发公告之前，未向任何用户或组织提前透露该信息，请广大用户监督。

      火币网将于下周一（4月14号）正式停止使用工行中关村支行账户充值和提现(用户工商银行帐号提现不受影响，我们将使用其他银行跨行转账到您的工行账户中)，目前为止其他银行暂时还不受影响，有最新消息火币网将在第一时间发布。
   

      火币网运营部
      2014/04/10

Forget about TA. It is the announcement by Huobi that is causing the drop.

Key Point - China Construction Bank had stopped banking relationship with Huobi. Other banks not affected for now. Time announcement was posted: 12:33 PM China time.

[ShroomsKit]

Did the dumping start before the anouncement was made public?

[chessnut]

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.

[darklight]

Did the dumping start before the anouncement was made public?

Yes, as usual theres some blatant insider trading going on.

How many banks do they actually have left now?

[windjc]

Did the dumping start before the anouncement was made public?

Look, at this point these announcements dont matter. Traders are just using them as entry and exit points. I think most people who wanted to pull their funds off exchanges have already done so in China.

However, its the future difficulty of getting money into exchanges which is bearish.

Meanwhile, China traders who remain on exchanges remain as kamakazee as ever.

[windjc]

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.

Looks like you are going to get your short exit point you wanted. Who knows, maybe you'll get more.

[ShroomsKit]

Did the dumping start before the anouncement was made public?

Yes, as usual theres some blatant insider trading going on.

How many banks do they actually have left now?

That's what i thought.

[Post-Cosmic]

Who gives a shit about China.  

By the time summer rolls around and regulated U.S. exchanges have started operation China will be a distant memory.

U.S. exchanges that run from 8-5 and closed on the weekends?

 I know right.. makes me puke at the thought. No moar weekend/off-hours trading..? Wtf.

bitstamp, bitfinex, and btce are just slaves that follow huobi via arbitrage bots. The sooner you accept this and stop fighting it because of how you think it is fundamentally wrong, the better time you will have trading.

 Looool @ slaves, and yes, couldn't be more truth to this, you can a) Raise a riot over their control of the current exchange markets, or ; b) You can make $$ off their backs by being smart. Can always do both I suppose, but most here just don't realize/think about this clearly.

[ShroomsKit]

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.

How was it falling?

And how is panic selling because of yet another China anouncement a natural correction?

[rjp55]

Sub 400 coins in 24 hours.

[windjc]

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.

How was it falling?

And how is panic selling because of yet another China anouncement a natural correction?

The problem is the rally was not a "natural" correction. It was another oversold situation just like 710. Everyone was so sure we were going to the moon.

[ShroomsKit]

Sub 400 coins in 24 hours.

Source?

[Dalmar]

Sub 400 coins in 24 hours.

There's not enough fud for that. 480-450 range most likely.