Bitcoin dropping volume | Bitcointalksearch.org

ranlo

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Quote from: Miz4r on May 09, 2014, 10:01:46 AM

Quote from: Jonivdb on May 09, 2014, 09:43:02 AM

The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

It means that there's lots of uncertainty and people are all waiting for signals to decide what to do. Holders don't feel comfortable selling at this price and potential buyers want to wait for the right signals to buy. We've seen these periods of low volume before, so I don't think this indicates a lack of interest. It's the calm before the storm.

This right here. And with the major news that's come out lately regarding PoS systems and such implementing Bitcoin, I think we're going to see an increase soon enough. Once it's added to PoS systems, you can use them anywhere.

juve4v

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Quote from: RyNinDaCleM on May 09, 2014, 11:49:50 AM

Quote from: juve4v on May 09, 2014, 10:16:06 AM

Oversold

Oversold? Where do you see that? All time frames are pretty neutral on the RSI. There are a few indicators that are borderline overbought, but I don't see anything oversold

Seems like i was right. My old school charts are still reliable Grin

Carra23

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As soon as there is some movement in any direction, volume will shoot up. It does not mean much.

gentlemand

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There's probably never been less trust in exchanges coupled with a big increase in BTC value. That's going to make people ever more wary.

At the same time there have never been more avenues to obtain BTC away from the traditional exchanges.

I don't think we'll see any significant increases in verifiable volumes until there's a better standard of exchange. That'll happen towards the end of the year I guess.

gogxmagog

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we will not see any significant rise in the usd price of BTC for a couple years if not more. That is, of course, if it can survive the press and general public's ignorance, derision and fear. No one wants to step into a punchline, and btc may just dwindle into obscurity. If you were not fully aware of this when you got in, well... I am very sorry for you...you should have read a few of the threads in this forum. never invest more than you can afford to lose!

BitchicksHusband

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Companies are making direct deals with Coinbase and Bitpay to buy and sell coins directly. ~~While these are "real" coins and not promises of coins (as far as I can tell)~~, the fact that it's all happening off-exchange means the volatility and volume are way down.

(Actually, the addresses listed on the same day as my transactions on Coinbase are empty and have always been empty, so they are not moving actual coins. So don't leave more than spending money on Coinbase (or any other site). Save them in your own wallet on your PC or in a paper wallet and make sure you have backups.

Stevenrm87

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Going up now. No steam left to go down further.

RyNinDaCleM

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Quote from: juve4v on May 09, 2014, 10:16:06 AM

Oversold

Oversold? Where do you see that? All time frames are pretty neutral on the RSI. There are a few indicators that are borderline overbought, but I don't see anything oversold

theonewhowaskazu

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Honestly it doesn't mean much. There's tons of reasons for volume to decrease other than people losing interest in bitcoin.

1) People who own bitcoin are now pretty rich, and now there's tax implications. Anybody I know who actually wants to sell in large amounts is doing so in person for cash, or for gyft cards, both of which mean you can basically get away with paying no taxes. Means the exchanges are largely for traders (who don't actually want dollars immediately) and people selling at a loss. Then there's companies that have to use an exchange, but they don't do it by trading back and forth 1000 times, they just do it like once for every coin they receive.

2) The traders (who as said in 1 make up the majority of the volume, especially now) now have 100000 shitcoins to trade rather than BTC/USD. Trading shitcoins generally is a bit easier (you don't need a verified account for example) and lots of people are doing that now.

3) People finally have realized that a coin on an exchange isn't a coin at all, its a promise of a coin. People don't trust as much as before and tend to withdraw their coins ASAP, means less opportunity for them to trade.

Hunyadi

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Quote from: juve4v on May 09, 2014, 10:16:06 AM

Oversold

+1

juve4v

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Oversold

solarion

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Quote from: MatTheCat on May 09, 2014, 10:05:35 AM

Quote from: solarion on May 09, 2014, 09:48:41 AM

Wonder if it has anything to do with the dozens of shitcoins spewing forth everyday.

I think the shitcoin craze is well and truly buried is it not? All those that I have kept my eye on are certainly well on the way to trending into obscurity.

Come to think of it, I haven't seen Seleme on these forums for a while. He was very heavily invested in shitcoins....ha....ha...ahahahahaha......mwhahahaHAHAHAHAHAHA! FK that cunt! (yeah seriously).

The time necessary for them to DIE seems to be shortening. Unfortunately manipulated garbage like blackcoin has everyone thinking they can get rich in a week, so new shitcoins are being gobbled up and regurgitated faster than ever. I wonder where we'd be if all or even most of this effort were going into bitcoin.

MatTheCat

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Quote from: solarion on May 09, 2014, 09:48:41 AM

Wonder if it has anything to do with the dozens of shitcoins spewing forth everyday.

I think the shitcoin craze is well and truly buried is it not? All those that I have kept my eye on are certainly well on the way to trending into obscurity.

Come to think of it, I haven't seen Seleme on these forums for a while. He was very heavily invested in shitcoins....ha....ha...ahahahahaha......mwhahahaHAHAHAHAHAHA! FK that cunt! (yeah seriously).

Miz4r

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Quote from: Jonivdb on May 09, 2014, 09:43:02 AM

The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

It means that there's lots of uncertainty and people are all waiting for signals to decide what to do. Holders don't feel comfortable selling at this price and potential buyers want to wait for the right signals to buy. We've seen these periods of low volume before, so I don't think this indicates a lack of interest. It's the calm before the storm.

solarion

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Wonder if it has anything to do with the dozens of shitcoins spewing forth everyday.

TERA

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Volume is hard to read in Bitcoin. 90% of bitcoin volume is traders, so volume decreases with volatility. Also, you can't tell what is going on off of exchanges.

DrBitcoin

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Quote from: Jonivdb on May 09, 2014, 09:43:02 AM

The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

I think you are probably right. 2013 was the year of Bitcoin. But 2014 has been very quite.

My hope is that as the infrastructure builds this year, eventually Ina year or two things will turn around as the next generation adopts Bitcoin at an alarming rate.

Then...the older folks will have no choice but to learn how to use it.

I think this is a long term goal. Right now, we are in a lull.

MatTheCat

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Quote from: Jonivdb on May 09, 2014, 09:43:02 AM

The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

That would certainly be the TA 101A prognosis. But one shouldn't rely upon volume alone as an indicator of what the market is going to do next.

Jonivdb

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The volume of bitcoin has been dropping faster then the price in bitcoin.

In my opinion this means an increasing lack of interest in bitcoin, and it might be that the price will follow.

What do you guys think?

Topic: Bitcoin dropping volume (Read 1596 times)