Dear all, bter has halted CNY deposit due to GOV policy. http://bter.com/article/403
Basically MMC/CNY volatility is greatly suppressed. This presents an opportunity to "raise" alternative exchanges and form a real market. They
include but not limited tohttp://bittrex.com
(not recommended ATM)http://poloniex.comhttp://allcrypt.com
If you are buying, place your limit orders at alternative exchanges. Don't be fooled by the 0.05% transaction fee difference, price is what really matters, isn't it? When the price at bter falls, sellers will go to other exchanges to fill the buying orders (higher price out there) This provide strong support. You don't want the price continuing falling after buying, do you? Bots on the other hand, cannot step out of bter to continue selling, because they are bter bots rather than global bots. Even human, sometimes does not care to step out of the familiar old exchange.
We (community dedicated members and investors who would like see MMC price rising) march on all alternative exchanges. This is much easier, because the thin volume there. We slowly drive the MMC/BTC price up, while the strong support at alternative exchanges behind us. You will find out the real human bears (sellers) are not that strong when the bots are excluded. Intuitively, our strategy is like this
_________ __________ /\
| | |
bittrex | | poloniex |
|_______________| | Price GO!
(bots stuck here)
What do you think?