How high the spike will go this time? - page 2.

Shadow383

sr. member

Activity: 336

Merit: 250

Quote from: hazek on April 20, 2012, 08:34:35 PM

Quote from: Crypt_Current on April 20, 2012, 07:01:27 PM

Quote from: adamstgBit on April 20, 2012, 06:50:14 PM

Quote from: gamer4156 on April 20, 2012, 06:39:48 PM

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

Stoners? nope

I have strong doubts SR had much to do with today's rally since most of people trading there don't use the 100% by the book give us your ID info or we keep your money mtgox.

You'd be surprised.
And regardless, one way or another, if there's a surge in demand for BTC on other exchanges it'll push the mtgox price up too.
Market dynamics at work Tongue

556j

sr. member

Activity: 252

Merit: 250

Quote from: disclaimer201 on April 20, 2012, 08:11:35 PM

So they must be extremely dumb or extremely bad businessmen. Not even. They must be irrational customers. In any case, this speaks against using SR, not from a moral point of view, but an economic. I wouldn't want to deal with people who are so dumb to deliberately hurt themselves economically.

Except there was a huge sale on SR that started like 12 hours ago, no commision so around 7% of the cost right off the bat. Then a lot of vendors also reduced prices on top of that. The sale ends in 1 day 5 hours watch the sell off

Also, of course drug users are irrational customers. It's been shown over time most drug use does not go down even when the price of them goes up exponentially. There's a somewhat fixed demand regardless of the price.

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: disclaimer201 on April 20, 2012, 08:36:11 PM

Quote from: proudhon on April 20, 2012, 08:17:35 PM

I think ~$5.50 will be the top for a while, but we'll see. Still waiting for a re-entry point and still planning on it being below $5.00.

I don't understand what you are doing there exactly. So, you go all out only to get back in the game later? Is this just to get some kicks out of it, or is this actually a working strategy?

I am a miner with a little more than 3Ghash/s, and my goal is to sell as high as possible obviously, but I would never sell all of my coins unless Vlad reaches 30%+ of the network rate or something horrible happens. Maybe so, if I needed to break even to pay for my initial investment. But other than that...

Say you buy in again at just below 5, and the price never reaches 5 again, which is unlikely, but as far as I can tell from many forum posts, bitcoin is a very risky thing and far from a safe investment.

That's speculation!
Hold (long) on the way up, sell (short) as close to the top as possible, only to buy back more at a lower price.

disclaimer201

legendary

Activity: 1526

Merit: 1001

Quote from: proudhon on April 20, 2012, 08:17:35 PM

I think ~$5.50 will be the top for a while, but we'll see. Still waiting for a re-entry point and still planning on it being below $5.00.

I don't understand what you are doing there exactly. So, you go all out only to get back in the game later? Is this just to get some kicks out of it, or is this actually a working strategy?

I am a miner with a little more than 3Ghash/s, and my goal is to sell as high as possible obviously, but I would never sell all of my coins unless Vlad reaches 30%+ of the network rate or something horrible happens. Maybe so, if I needed to break even to pay for my initial investment. But other than that...

Say you buy in again at just below 5, and the price never reaches 5 again, which is unlikely, but as far as I can tell from many forum posts, bitcoin is a very risky thing and far from a safe investment.

SgtSpike

legendary

Activity: 1400

Merit: 1005

I don't know, I'm not very high right now...

hazek

legendary

Activity: 1078

Merit: 1002

Quote from: Crypt_Current on April 20, 2012, 07:01:27 PM

Quote from: adamstgBit on April 20, 2012, 06:50:14 PM

Quote from: gamer4156 on April 20, 2012, 06:39:48 PM

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

Stoners? nope

I have strong doubts SR had much to do with today's rally since most of people trading there don't use the 100% by the book give us your ID info or we keep your money mtgox.

Spekulatius

legendary

Activity: 1022

Merit: 1000

Yep 5.5 is the next resistance, but taking that buying volume into account, I dont think itll last long. Maybe till tomorrow. Re-entry around 5.20-5.30. Next stop 6 USD!

proudhon

legendary

Activity: 2198

Merit: 1311

I think ~$5.50 will be the top for a while, but we'll see. Still waiting for a re-entry point and still planning on it being below $5.00.

disclaimer201

legendary

Activity: 1526

Merit: 1001

Quote from: Crypt_Current on April 20, 2012, 07:01:27 PM

Quote from: adamstgBit on April 20, 2012, 06:50:14 PM

Quote from: gamer4156 on April 20, 2012, 06:39:48 PM

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

Stoners? nope

So they must be extremely dumb or extremely bad businessmen. Not even. They must be irrational customers. In any case, this speaks against using SR, not from a moral point of view, but an economic. I wouldn't want to deal with people who are so dumb to deliberately hurt themselves economically.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: adamstgBit on April 20, 2012, 06:50:14 PM

Quote from: gamer4156 on April 20, 2012, 06:39:48 PM

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

Stoners? nope

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: gamer4156 on April 20, 2012, 06:39:48 PM

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

lol

wouldn't you think they would buy b4 4/20?

gamer4156

sr. member

Activity: 1008

Merit: 250

Once all the drug dealers have to sell their money from the SR sale the price will go down. I know most of you think that SR isnt the #1 reason for bitcoins success but after this huge spike for 4/20 I dont know how you can deny it any more.

Uncurlhalo

full member

Activity: 238

Merit: 100

|Argus| Accounting and Auditing on the Blockchain

You both are probably right. It will go up and down a good bit. I just liked the irony of this post being made practically the same minute as when the price went from 5.44 down to like 5.26. It was just to perfect.

Sitarow

legendary

Activity: 1792

Merit: 1047

Quote from: Uncurlhalo on April 20, 2012, 06:32:07 PM

Quote from: YoYa on April 20, 2012, 06:30:50 PM

Jinxed!

Most surely jinxed. Somebody pumped and dumped it seems. Or something like that.

The "bid-ask spread" volume is low.

Therefore even low volume transactions can triger wild swings in price. This is and will be commonplace untill the ask/bid catch up.

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

That was one of those "just a matter of time" kind of sells. This is far from over I think, there is low depth close to the price. It will fluctuate for a good while yet.

Uncurlhalo

full member

Activity: 238

Merit: 100

|Argus| Accounting and Auditing on the Blockchain

Quote from: YoYa on April 20, 2012, 06:30:50 PM

Jinxed!

Most surely jinxed. Somebody pumped and dumped it seems. Or something like that.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: YoYa on April 20, 2012, 06:30:50 PM

Jinxed!

lol

YoYa

hero member

Activity: 809

Merit: 501

Always verify deals with me through my public key!

Jinxed!

codymanix

full member

Activity: 203

Merit: 121

Gir: I'm gonna sing the Doom Song now..

6 USD, 7 USD, maybe even 8 USD until it breaks down again?

Topic: How high the spike will go this time? - page 2. (Read 4460 times)