Decided I’d wait and see how things develop after waking up. Stamp in still leading Huobi and BTC-e by 12-15, albeit with a large bid/ask gap. I’m interested to see how this develops. If we do make it down to 758, the way there is going to be quite different from how it would have been early this morning.
I’m currently in the process of reconsidering the impact of January 31st. Clearly it must end up meaning something–the question of everyone’s mind, of course, is what. There seem to be 3 distinct possibilities:
- Nothing happens, probably resulting in some upward momentum, potentially in a lot
- The Chinese government tells the exchanges to stop using workarounds to circumvent the payment processor ban; price gets demolished
- Some or all exchanges make significant announcements pertaining to the future. I think the OKCoin announcement is very interesting.
I’m not sure how to understand that announcement. It’s clear what it says, but is it a sign of strength or weakness? It could really be either. They’re saying that they haven’t received any orders to do anything; that doesn’t mean they aren’t anticipating them. It also doesn’t mean that they haven’t received any suggestions.
I’m quite open to thoughts on this. Anyone have anything to share?