Topic: Buying pressure stacks up. - page 2. (Read 2855 times)
While it does seem prices are picking up, but with so many complaints about not getting money out of gox, not quite sure what to make of this. I think we should also keep track of bitstamp as it's volume is getting a lot closer to gox and keep an eye out on the spread between the 2. Part of the demand is probably just ppl trying to move money out of gox by bidding up BTC.
I agree, buying pressure is building up.
I don't see anything changing much over the next few weeks, but possible into late August/September/October, there is a high probability we will see the price rise back past $100. I would guesstimate the probability of it rising right now is greater than it falling, due to current favorable sentiment towards bitcoin.
I don't see anything changing much over the next few weeks, but possible into late August/September/October, there is a high probability we will see the price rise back past $100. I would guesstimate the probability of it rising right now is greater than it falling, due to current favorable sentiment towards bitcoin.
According to the chart at blockchained, we should already be at 98-99, but we are not there yet.
Well, maybe in the next hours...
Well, maybe in the next hours...
I would have agreed on a trend reversal, if not for the continuing withdrawal hiatus that is impeding on the natural course of the market. 
There is actually a chart for this that I like to check frequently on Blockchained.com
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Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!"
Well, this might be part of the case, but in any case we are talking about whales here so it doesn't fit the psychological profile entirely. Yet, can't exclude that notion - just one more note: say you are right, it still means the price will go up if many people believe the price is too cheap at the moment and are afraid we are at some sort of a bottom... So while the motivation for buying effect mainly longer runs and trend aspects and considerations, it has a lot less effect for short term… I.E mass buying (for no matter what reason) = mass buying and the result is... price goes up.
Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!"
More recent newcomers wouldnt make a significant impact, they wouldn't invest much money altogether. Around/ right after the time of $266 would have been when we would have to consider the irrational newcomer impact
Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!"
Hello everyone,
Here's what I noticed: in the last 48 hours, the buying pressure rose higher and higher, the "above 80" was at around 30k for a week or so and now it's almost 50k where most of the added pressure is at the top, (over 90s), therefore I believe the price is going to go up in the very short run at least.
I also think this is a flipped trend and not just a short run-up, but to back this statement up I need to bring a lot more data and therefore, for now - just take it as one man's opinion.
cheers,
Here's what I noticed: in the last 48 hours, the buying pressure rose higher and higher, the "above 80" was at around 30k for a week or so and now it's almost 50k where most of the added pressure is at the top, (over 90s), therefore I believe the price is going to go up in the very short run at least.
I also think this is a flipped trend and not just a short run-up, but to back this statement up I need to bring a lot more data and therefore, for now - just take it as one man's opinion.
cheers,
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