Ya.. if wasn't for China, I'd say a lot of resistance again. If China plows through though it'll prob be pretty uneventful.
I believe before this last "correction", China went as high as like $430 USD at one point.
The btcchina ATH is 2630¥, currently worth $431.75. Absolute insanity.
I've never seen arbitrage opportunities this big. You could drive a truck through bitstamp/btcchina. It's all so surreal.
The massive and persistent arbs between the btc markets is proof positive that the fiat system is a dinosaur.
True, though I think China's draconian remittance rules also have something to do with it.
It's also proof positive that big players with eyes on the Bitcoin ecosystem would prefer to hold the coins than exploit the enormous arbs.
Man, wish Bitfinex APRs weren't 200+% now.. insane.
We should tell so Bitcoin haters about Bitfinex, and how they can deposit some fiat and loan it to us idiots and make 50% APR easy.. They wouldn't need to ever even touch bitcoins!
Is Bitfinex truly considered trustworthy? 50% APR sounds good but it seems like every kind of financial market or scheme yet invented for Bitcoin has imploded one way or another.
