is there a way to look at orderbooks on bitcoinwisdom??

someone(s) is doing their damndest to collect as many coins between 296-299 right now in finex.

bearstamp orderbook looks awful for breaking 300.

it's all finex and china if we're going to do it.

only makes sense if that 1 person(s) are trying to buy all the coins on finex/china and just using stamp to keep the price under 300$ knowing that they have the lowest volume and it takes 24hr to wire money onto the site.

I think it's within the realm of possibility just examining the orderbook and how staggered the walls are at 296$+ on stamp.


But thats easily a many many million dollar operation. If someone wanted to buy millions of coins cheaply, they couldve just entered the auction themselves/

also stamp hasnt broken $294 so none of those walls have been touched.

Far better positioned to stay above $300 right now than we were 24hr ago.


A 6k wall still exists on stamp, and as some of us discussed here last night, the staggered walls at $294 have never been under threat.

While at Finex it looks like a lot of the guys who wanted out at 300 got out earlier and there isnt a wall.

I'm with this reasoning here.


The wall was as great as 7.6k last night up to $300 on stamp, with bidside as low as 3k.


Theres no real $ on bitstamp and it seems possible that someone is just using stamp to collect a lot of coins under 300.

too obvious to market buy up to 300

then you run the risk of your wall being eaten on stamp. It's best to keep the artificial wall and constantly buy small pieces.

being sideways at 290-300 is far better than being in a full on bear market for 15 months.


People should also take note that there is global uneasiness with the general economy of the world. While many of those equities markets have shaved off few % points, and lost billions in value (incl. gold), bitcoin has risen along with very bullish outside indicators (finra, 21, tmobile, etc.)

Gist being, investors have taken quite a bit of a beating the last few weeks globally, and we're supposed to sit here and convince them that investing in bitcoin is more preferable than sitting on the sideline or staying in traditional investment vehicles? Not... happening.


Being sideways for a month or two while the traditional equities markets continue to shave off points little by little might be the best thing for bitcoin. It would be a compelling narrative leading up to a SEC/DOJ decision on the etf, gemini, or a major tech company fully integrating bitcoin into its platform.

while a lot of smart people are arguing that bitstamp has been uncoupled to price, it has hit $294, and a lot of those walls are now under threat.


Could be a signal that 300 is now attainable.

the ETF is a do not pass go, do not collect $200 kind of scenario.


With it, possibilities are endless.

without it, we are screwed.

the etf is completely necessary for bitcoin to attain a high valuation (and by high, let's say over 12b, previous ATH).

those walls are real close. 20k close


we're going to find out real soon whose bullshitting and who isnt.

ok ok here we go on stamp.

finex.


stamp has zero volume.

wow.

those walls on stamp are legit and being touched

stamp > finex right now


someone is obviously waiting for orders to post up on stamp.

very interesting!

I have no fucking earth idea what is happening right now but I have my seatbelt on.

if the platform allows for leveraging that would be monumental and all but confirm that the ETF is coming.

Shorter I think. Once Gemini launches the ETF clock starts. We will know within a short window how likely the etf can be a reality. Everything relies on Gemini, however.

I think this is what we can expect the next few weeks:


Lots of sideways action between 280-295
Lots of Sat/Sunday pumps
Lots of Wednesday-Sat dumps


People clearly feel that there is an imminent announcement. Whehter it is gbtc, gemini, or another huge VC investment, or even COIN news, people are going to buy up lots of coins between Sunday to Monday night in anticipation of an announcement.

Fundamentals are clearly improving, and in retrospect, we should have all gone long when Gemini stated that they plan to launch with a US facing bank that will provide full fledged USD services.

If you're sitting on the sidelines, I'd look to buy later in the week.
If you're looking to dump a heavy position, do it early in the week and always refresh reddit, twitter, and have sms news alerts before you pull the trigger.

I'm not necessarily convinced anything is on the horizon besides Gemini (which should have a monumental impact given that China currently holds about 75% of trading volume-- but if you remove btcchina they probably hold somewhere between 35-60% of all volume). But if Gemini launches with capabilities beyond buying and selling, and if this US facing bank is crazy bullish on bitcoin, it will pave the way for COIN and literally set an absolute floor for bitcoin in terms of value. A lot of people don't understand that a lot of institutional $ doesnt really move around. We're talking about roths, pensions, etc. All of those monies literally sit unmoved for years and decades. It will ensure that barring some zero day exploit, bitcoin will have an absolute floor in a post-gemini, post-etf world. Literally "cheap" coins will be a figure of speech.

I would expect a little more downward pressure by the end of the week.


This is the cycle you're going to see for the next few weeks heading into Gemini's launch and how and who this US facing bank is, and whether there will be a joint statement of further relationships with Bitcoin.

Youll see lots of Wednesday-Friday dumps and sideways action with Sat-Mon pumps in anticipation of news.

Im sick of reading you people post about the swaps on bfx.


It

means

nothing



Until you are in a middle of a massive dump/spike either way, where a squeeze literally occurs, the past few months have told us that it means nothing. Someone has been eating USD at .11% and the overall market doesnt care.

China controls 75% of the trading market, and until Gemini or Coinbase begin operating in NY, CA, TX, VA, MA we are going to see a lot of pump and dumps.

them and the HFTs should be permanently kicked out of bitcoin.

my winkdex app has stopped updating at 854am est.


anyone else?

shorts are climbing back up on finex.


That's just pure gambling imo. Large institutional bank invests in bitcoin, no real slippage in price over weekend, fresh news cycle on monday.

i dont understand why anyone would short here.

It's like they all used lvl 1 thinking:


Omg thursday pump to $238 over, slippage to $233 over weekend, ok we're back to normal, let's pile on the shorts again!!!

back to $225 we go!!!


I mean, is there any real money to be made shorting back down to $220-225 after thursday? Seriously?


You are shorting on normal weekend dip in volume where there is a small amount of slippage and your premise is that everything has returned to the norm so we must be going back down to $225?

Yeah, that's so fucking worth it, shorting from $233 back to $225 on zero volume against a fresh news cycle.

awful reasoning imo.

Are we discussing the difference between personal investing or institutional investing, because I think you're getting confused about the difference here, especially on the buyside.

Explain to me if you are in charge of an institutional fund (e.g. endowment, pension) why on earth you would wire 20$million to bitstamp/finex/coinbase and buy bitcoins?


The irony of GBTC is that there is no liquidity, which is the same exact issue that we had before GBTC, and still will have until an ETF becomes approved.

we've known probably since late fall 2014 that only investors who had shares of GBTC for more than 12 months would be eligibile to trade them on the OTC market.

What's happened today is no surprise, there's no liquidity.

as speculators we've done our part.


No matter when you bought in, what your avg position is, this is no longer in our control. We pushed this commodity into the spotlight, gave it value, and now it's time for the big guns to take over. The 2-8 million of us in the world have given it 3 billion of value.

Without us, they dont have business opportunities to change the world.

Now it's up to them to do what they do--- business and generating economy-- to take us to the moon.


Guys, it's over for us, and the slow value decline/ lack of big pumps over the last 6 months are those signals, weak hands out, boat is filled up and we've set sail. This thing now trades like every other commodity or equity the market, up +/- 5% daily 99.9% of the time. The times of +/-15% daily is over.

Let the big kids move in and take it wherever it goes.

how big of an idiot do you have to be to help run up LTC from 3.8-->4.8 the same day the bubble pops?

strawman

so a 200m market cap leads a 4b market cap?

looks like gold vs USD spot

basically spot gold price in USD vs USD relative to world's currencies

I hate those charts because the scales are always manipulated into confirmation bias.

Unless you think WW3 is coming, you are a moron.


A complete financial fiat collapse = WW3 will ensue.

Everyone will demand that their debt be forgiven, and countries where govts end up dissolving over night will become the focus of a new world war.


Otherwise, I dont think we end up seeing hyperinflation, which would be a precusor and the final true bat-signal that war is coming. What's more likely it seems is that the world plunges into depression and there is a massive re-ordering of wealth. If that happens, I can assure you that GOLD and SILVER, although extremely valuable, will not supplant bitcoin. If you are a wealthy person looking to flee a country or to smuggle wealth overseas, you wont be looking at GOLD or silver as wealth preservation, they are far too difficult to move. Diamonds, gemstones, and state secrets as a physical asset will be much preferred over gold and silver.