Bitcoin Price: What's Happening With The Exchanges Today?
A lull has descended on the market, and various Bitcoin market related data sources seem inactive. This seems to fit with the snail's pace of sideways Bitcoin price consolidation before an expected move higher. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 12h29 UTC. Bitfinex 1-Hour Chart. Excerpt from xbt.social analysis posted earlier: The 1-hour Bitfinex chart shows price making the same concave envelope in today's price wave as the larger correction has traced over several weeks. At the time of....
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Insert colorful GIF of Ron Paul with the "It's happening!" text overlay. The price of Bitcoin is creeping past the $200USD mark at exchanges like Bitstamp and Bitfinex. It's still lagging behind at BTC-E and CampBX, but if the climb continues, we may soon see these exchanges also pass $200USD soon. Meanwhile at Coinbase, the buy price is about $204.25 (as of this writing). Let's see where this goes.
Something is happening in China. As you can see above there is definitely something going on in China. More than 5000 Bitcoins have been traded in less than 60 seconds and there seems to be a massive downtrend. Some have asked us if the Bitcoin exchange Huobi is closing. We are looking into the case and will update this post whenever we have any more information. We have written an analysis today that might be of interest: Bitcoin Price Fails at Major Resistance. UPDATE: the Bitcoin price seems to have stabilized now. The Daily Competition. We are celebrating our enormous growth by....
Though the bitcoin price is bringing the overall sentiment down, many exciting things are happening in Bitcoin that will make this price drop temporary.
The Centralized Bitcoin exchanges seem to coordinate their prices across continental divides. One goes down - they all go down. The question is why the public tolerates their scam. If they were useful or desirable, they'd consider the very people who sustain the Bitcoin network, namely Bitcoin miners who, below $400, likely operate at a loss. Exchange clients and miners get whatever is happening in the busiest exchange. The exchanges' arbitrage-bots equalize prices between one another. Miners - you're the backbone of this innovation. Cryptomonkeys - you think you're trading - but your....
Anyone in the Bitcoin community who has looked at charts for longer than a few minutes has noticed that traditionally, Mt. Gox's price tends to be higher than the other exchanges. In fact, in the past months, it hasn't been uncommon to see a different of $100 USD between the two Bitcoin exchanges (with BitStamp being the lower of the two). Today, the prices per Bitcoin on the exchange are just about equal, with the price on Mt. Gox being about $767, and $767 on BitStamp. In fact, the price per Bitcoin at BitStamp has surpassed the price at Mt. Gox today. The amount was rather insignificant....