wow we're back to the $6 range...pump and dump or just regular volatility?
Just big buyers and regular volatility...
Crazy stuff man. This makes the VIX indicator look like an asymptotic curve.
Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 120. (Read 540250 times)
May 14, 2011, 07:42:42 PM
Just big buyers and regular volatility...
Crazy stuff man. This makes the VIX indicator look like an asymptotic curve.
May 14, 2011, 07:03:42 PM
S3052, what you think?
May 14, 2011, 06:37:55 PM
wow we're back to the $6 range...pump and dump or just regular volatility?
Back up above $7 again. Hope nobody panic sold.
May 14, 2011, 06:17:29 PM
wow we're back to the $6 range...pump and dump or just regular volatility?
May 14, 2011, 05:38:08 PM
S3052, I think people will be paying a whole lot more attention to what you're saying from now on 
I have and continue to pay attention, but lately it's just been so crazy and volatile that imo all bets are off.
May 14, 2011, 05:28:25 PM
We need to tally up all SR3052's predictions and see how much he is right and how much he is wrong.
May 14, 2011, 05:25:53 PM
S3052, I think people will be paying a whole lot more attention to what you're saying from now on
what made me trust S3052 is the silver prediction
May 14, 2011, 05:20:35 PM
S3052, I think people will be paying a whole lot more attention to what you're saying from now on
May 14, 2011, 05:19:15 PM
Ok, NOW it has dropped.
May 14, 2011, 04:38:49 PM
My original point, though, is that you don't need to be a market analyst to know this looks bearish:
I used to be concerned seeing that kind of chart, but based on my observations of mtgox I am not too worried. The bid/ask distribution has always been weighted towards asks for the entire existence of mtgox, and yet huge rallies have occurred. My theory is that it is easier to get BTC to mtgox than it is to deposit USD, so some people will store a chunk of their BTC on mtgox and put in some high offers, while buyers are likely to buy BTC immediately after their deposit clears as they believe the price will rise. This results in less standing bids. Many sellers of BTC are miners and in no rush to sell so they just put in big orders at higher-than-market prices. Very true, which explains some of it, but this is a HUGE difference. Recently, what has brought the price up and kept it up are infrequent large buys, which means that if the large buys stop coming and the large sells start being more frequent, a Huge downfall will happen. While I agree that it does seem like BT will have the Xmas tree effect, this is NOT a stock, you have to remember BTC can always surprise.
May 14, 2011, 03:43:58 PM
My original point, though, is that you don't need to be a market analyst to know this looks bearish:
I used to be concerned seeing that kind of chart, but based on my observations of mtgox I am not too worried. The bid/ask distribution has always been weighted towards asks for the entire existence of mtgox, and yet huge rallies have occurred. My theory is that it is easier to get BTC to mtgox than it is to deposit USD, so some people will store a chunk of their BTC on mtgox and put in some high offers, while buyers are likely to buy BTC immediately after their deposit clears as they believe the price will rise. This results in less standing bids. Many sellers of BTC are miners and in no rush to sell so they just put in big orders at higher-than-market prices. 
May 14, 2011, 02:59:57 PM
Yep, there it went, all the way down to uh, 8.2?
Well a single big seller did take the price down to 7.4But just over 24 hours ago a single big seller took the price down to 6.51 (see the MtGox 48 hour chart). Looks like a general uptrend to me.
It's back to 8.55 now anyway.
My original point, though, is that you don't need to be a market analyst to know this looks bearish:
May 14, 2011, 02:36:57 PM
Yep, there it went, all the way down to uh, 8.2?
Well a single big seller did take the price down to 7.4But just over 24 hours ago a single big seller took the price down to 6.51 (see the MtGox 48 hour chart). Looks like a general uptrend to me.
It's back to 8.55 now anyway.
May 14, 2011, 02:24:19 PM
Yep, there it went, all the way down to uh, 8.2?
May 14, 2011, 02:09:22 PM
I think the reversal might be beginning ... Aaand resistance is broken
I would expect volume to be lower on the weekend, with less new money flowing in to MtGox. Mt Gox price increases have generally been volume driven, so no great surprise here. Wait till after Monday's trading to decide what's happening.
May 14, 2011, 01:58:30 PM
Again, the charts gave a clear signal. This is the chart before the decline:
I'll take your word for it, but "clear" is a bit of a stretch. May 14, 2011, 01:57:48 PM
I think the reversal might be beginning ... Aaand resistance is broken
I would expect volume to be lower on the weekend, with less new money flowing in to MtGox. Mt Gox price increases have generally been volume driven, so no great surprise here. Wait till after Monday's trading to decide what's happening.
May 14, 2011, 01:52:09 PM
Again, the charts gave a clear signal. This is the chart before the decline:
May 14, 2011, 01:35:38 PM
Looking at the market depth right now, I think the reversal might be beginning...
A little resistance at $8, and then it's a slide.
EDIT: Aaand resistance is broken. Before I got to sell.
A little resistance at $8, and then it's a slide.
EDIT: Aaand resistance is broken. Before I got to sell.
May 14, 2011, 11:40:06 AM
I have been wondering if this is a pump-and-dump.
If it is I would watch out for another increase in volume over 64,000 concurrent with an increase in price... Which is precisely the condition I would be trying to create if I were doing it.
If it is I would watch out for another increase in volume over 64,000 concurrent with an increase in price... Which is precisely the condition I would be trying to create if I were doing it.
God I hope not. This is precisely why I worry that bitcoin is becoming a speculators bitch currency...
Seriously what matter more than TRADING bitcoins for USD is trading bitcoins for products and services. The bitcoin economy needs to grow faster!
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