No, that bid wall was up yesterday before that service announced its launch. Besides, the bid wall was pulled so fast that it had to have been controlled by one entity. I don't believe it was numerous different people behind it who were trading independently, it had to be controlled by one entity with a lot of financial muscle.
boy the news out of HK sure caused a lot of short covering with big volume on the Chinese markets. True test will be if this reversal can stick. Might see more upside when English news sites pick up the story and the US wakes up.
How is that bullish? HK investors gonna suddenly pour in millions just because it won't be regulated!
I believe this was the trigger for short covering today. Not saying this is bullish but good to be aware of why something may have happened. Anyways one could argue that market was fairly oversold. Will the reversal hold? who knows
edit: also one should probably watch market reaction as english news covers the story and US wakes up. Just saying, is something to be on the watch for.
boy the news out of HK sure caused a lot of short covering with big volume on the Chinese markets. True test will be if this reversal can stick. Might see more upside when English news sites pick up the story and the US wakes up.
Mr. Betts has previously headed the development of electronic trading platforms at Goldman Sachs, Morgan Stanley and UBS
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There is a lot of demand for digital currency trading from institutions, he said, noting that his early conversations with investors involved a lot of What is bitcoin? questions, whereas now he hears, Bitcoin is interesting, but where can we trade? He added, A lot of them just couldnt do business with the existing exchanges. But we are a team of investment veterans. We speak their language.