bitebits
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Bitcoin != exchange rate


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March 06, 2016, 01:38:53 PM

There's a fella on r/btc doing a sterling job bringing the Chinese side of things to life. Here's his latest summary of Jihan Wu from Antpool's post on 8btc - https://www.reddit.com/r/btc/comments/495866/the_rbtc_china_dispatch_11_summary_selected/



What seems bizarre to me is that the HK CRTA comes out and the market shoots up from $375 to $450, a seventy five dollar increase. Then pools start coming out one at a time making it clear there is no consensus, and the market only retraces 60 bucks.

It seems like there should be more than a complete retrace.  28.4 million in leveraged longs on BFX. It seems crazy to say this, especially so close to the halving, but I think there is a real possibility that $300 will get another serious test of support.  There is still too much uncertainty with scaling and governance. 

I placed some (admittedly greedy) bids accordingly. One can dream right Smiley