BTC and LTC bubbles look like popping

TreasureHunter

TreasureHunter

Well-Known Member
The 6 hour charts look eerily similar to an asset bubble popping.

LTC:
ltc_bubble_1.gif


BTC:
btc_ubble_1.gif


Would love to see sub-4 $ LTC and sub-100 $ BTC

But I don't know if they will drop that low, because there are s many people in the market buying up as soon as it drops.
 
It's being heavily traded on extremely low volume all the way down to.
 
TreasureHunter said:
Right.

BTC-e has the lowest prices I've ever seen on BTC and LTC.
Click to expand...

You're right, it also almost never gets quoted for BTC spot pricing nor technicals - It is as useless of a price as the Gox one is.

Not only that but the volume is extremely low.
 
If BTC-e has lower price for BTC (now 401 $) and Gox has higher (now 471 $), then one could simply buy at BTC-e and transfer to Gox.

Correct me if I'm wrong, but this seems very profitable at first glimpse.

I don't own BTC, don't know how exactly how everything works.
 
It's called arbitrage. Transferring BTC between BTC-e and Mt. Gox should be straightforward. However, in this particular scenario, you have two problems - 1) getting USD into BTC-e to buy the BTC, and 2) getting USD out of Mt. Gox once you've sold the BTC.
 
whinfell said:
It's called arbitrage. Transferring BTC between BTC-e and Mt. Gox should be straightforward. However, in this particular scenario, you have two problems - 1) getting USD into BTC-e to buy the BTC, and 2) getting USD out of Mt. Gox once you've sold the BTC.
Click to expand...

How about this:

1) buy BTC at an exchange where you can easier upload funds

2) transfer the BTC to BTC-e

3) trade BTC/LTC/etc.... (LOL "etc."!) anything that ends with "C" :lol: on BTC-e

4) finally: sell all for USD on BTC-e

5) and cash out in USD through BTC-e

or...

4*) transfer the BTC to some other exchange that allows easy cashing out... perhaps BitStamp?

5*) get your cash out via money transfer
 
TreasureHunter said:
If BTC-e has lower price for BTC (now 401 $) and Gox has higher (now 471 $), then one could simply buy at BTC-e and transfer to Gox.

Correct me if I'm wrong, but this seems very profitable at first glimpse.

I don't own BTC, don't know how exactly how everything works.
Click to expand...

just about to try out your theory that I pretty much was thinking earlier today..we'll see! ;) but it sounds a little too easy!
 
What "20 % arbs", what do you mean?

There's no such fee or anything out there.

Anyway: buying anything right now it quite a bad moment. LTC and BTC are on a bearish path...

I remind everyone the title of this thread: "BTC and LTC bubbles look like popping"
 
Arbitrage can work - look to smaller exchanges though that have a payout reputation.

Basically keep some fiat and BTC on hand in a couple, and buy/sell correspondingly.

ANX is still getting $640 AUD tonight for example - just sold a few at that price and replaced cheaper.
 
Back when btc was a lot cheaper and I was still building my position, I had a fantastic method of buying btc. Basically I google-translated my way through one of BTC-e's payment processors and actually got it all hooked up! This meant that I could have money from my bank account into BTC-e in usually about 1 to 2 hours. I think it was a 1% fee on that deposit, and then the usual trade fee to buy the coin.

It worked out as such a cheap rate that you could potentially buy the btc and sell it straight to bitinnovate (kind of like coinjar) for something like 10% profit, and you would have the money in your bank the next day. I never actually did it because I was a newb and bitcoins were appreciating so fast it didn't seem worth it to me.
 
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