inca
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March 20, 2015, 11:33:22 AM

Not looking good... Sad

The ways of Bitcoin ...esp price ...are 'mysterious to me'  FML

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Yeah longs have gone full retard on finex @ $23,5MM and they brought up the price to like 0.15%/day so longs are paying $35.250 daily just to leverage. And they didn't close or get squeezed as we were going down to $250 but instead were adding to their position. Then shorts jumped up.  Huh i'm at a loss as to wtf is going on but feel like the pressure cooker is only getting hotter and something got to give sooner or later judging strictly by longs most likely down. But in the mean time seems like Finex is the only one making serious money now, leveraged longs buying from leveraged shorts  Undecided

Yes I am unsure as to what is happening also. Shorts are rising (finally). It is curious that the long's wont capitulate. Either there is a lot more ammo up their sleeves, or some news is about to come out which will drive the price upwards a lot, or they are trapped and will be squeezed.

Something that isn't commented upon often is that you can use BTC as collateral for margin long positions on finex. So you actually don't need USD on the exchange to go long. This means that miners and large holders (say Winklevos) could use their holdings to drive up the price. I wonder if this is why the long interest never drops below 14 million (even after a 90% crash) and may explain the constant imbalance in the long:short interest ratio.

This weekend I am off with some friends away from the interwebs. It is shaping up to be an epic weekend!