Topic: I forced the 10 day high last night. What do you think about that? - page 2. (Read 3849 times)
December 05, 2012, 02:24:43 AM
@smoothie
+1
December 05, 2012, 02:18:00 AM
This is pure entertainment when people start jumping up and down like little girls because the bitcoin price goes up.
Next stop: Sobbing, bitching, whiny, confused stage.
"Why did the price fall?
"
... because someone was smart enough to sell high.
Next stop: Sobbing, bitching, whiny, confused stage.
"Why did the price fall?
"... because someone was smart enough to sell high.
December 05, 2012, 01:32:03 AM
Unless you can prove it wasn't a total coincidence, you really can't claim to have had any effect. A couple of weeks ago, I bought 10,000 LTC and it had no effect on the market at all as far as I can tell -- and LTC is far less liquid than BTC.
December 05, 2012, 01:00:58 AM
So even though the price has been drifting higher ever since the WordPress announcement, you seem to think that your 700btc purchase is the reason it went up during the past 24 hrs?
Don't overestimate your effect on the market
Don't overestimate your effect on the market
Don't underestimate the effect a rogue 700BTC market buy.
I believe OP 100%!
December 05, 2012, 12:17:55 AM
OP TRANSLATION:" I peed and all the tides of the ocean changed because of my piss."
Couldn't have said it better myself
But this very could have triggered a bot, which triggered a few other bots, which started the rally. Or it could have had no effect at all. Doesn't really matter because we don't have a time machine to compare the results.
December 05, 2012, 12:09:52 AM
OP TRANSLATION:" I peed and all the tides of the ocean changed because of my piss."
December 04, 2012, 08:51:00 PM
Give some credits when credits are due, guys! Otherwise who would be brave enough to start a rally next time?
December 04, 2012, 03:42:01 PM
A ten day high is nothing for bitcoin. Now, if you could buy up past the all-time high (about 32 usd/btc, less than 3x what it is at now), that would be something to talk about.
That would only cost $1,366,236. No big deal
December 04, 2012, 12:26:06 PM
The ask price is now 12.94.
You still buyin up?
Didn't think so
You still buyin up?
Didn't think so
Obviously not. My point is that maybe breaking a 10-day high provided psychological relief after the post-halving uncertainty, thus opening the floodgates for the subsequent buying volume.
A ten day high is nothing for bitcoin. Now, if you could buy up past the all-time high (about 32 usd/btc, less than 3x what it is at now), that would be something to talk about.
December 04, 2012, 12:20:17 PM
Thanks for the post, i'm now sure i want to wait to invest
December 04, 2012, 12:16:24 PM
The ask price is now 12.94.
You still buyin up?
Didn't think so
You still buyin up?
Didn't think so
Obviously not. My point is that maybe breaking a 10-day high provided psychological relief after the post-halving uncertainty, thus opening the floodgates for the subsequent buying volume.
December 04, 2012, 12:12:26 PM
The ask price is now 12.94.
You still buyin up?
Didn't think so
You still buyin up?
Didn't think so
December 04, 2012, 12:02:05 PM
So even though the price has been drifting higher ever since the WordPress announcement, you seem to think that your 700btc purchase is the reason it went up during the past 24 hrs?
Don't overestimate your effect on the market
Don't overestimate your effect on the market
Well, I started buying at 12.66. So yes, it was the reason it went up to 12.75, and it only took seconds to do so. I'm not claiming anything else about the past 24 hours. But in particular, could the past 12 hours have been a result of this initial jump?
I realize that this kind of volume represents a drop in the ocean on Mt.Gox, but is the psychological effect of High/Low price not volume-independent?
December 04, 2012, 11:57:33 AM
Post again when you've got 70000 BTC.
December 04, 2012, 11:48:52 AM
Well 700 BTC are not enough, but in general if you are the first who kicks off a massiv buy or dump, you'll surely get followers. I think thats not happening too seldom on Mt. Gox. Very risky investment strategy^^
December 04, 2012, 11:43:18 AM
December 04, 2012, 11:34:36 AM
So even though the price has been drifting higher ever since the WordPress announcement, you seem to think that your 700btc purchase is the reason it went up during the past 24 hrs?
Don't overestimate your effect on the market
Don't overestimate your effect on the market
December 04, 2012, 11:32:40 AM
December 04, 2012, 11:29:55 AM
Think you should post your CSV to prove it
December 04, 2012, 11:28:14 AM
I bought around 700 BTC at market price and drove the 10 day high to 12.75. I first had to sell BTC to get the money, and by the time I sold and bought, this market experiment cost me around 15 BTC in fees and personal losses. But... psychologically, it obviously had an effect on the market. By popping the 10 day plateau (and the 3 day post-halving uncertainty) I think it injected some short-term confidence in the market. When I wake up this morning I see a 12.93 high. Well, that wasn't me. But obviously it took off. And now we're around 12.85 and I've already covered my losses!
So surely this is a form of sentiment manipulation? I guess we cannot manipulate supply and demand, but we can manipulate emotions which drive them. Emotions are tightly wound around certain symbolic price points, so it would make sense that forcing the price above or below those price points (albeit artificially) could be a catalyst for real movement around those price points.
What do you think about this?
And what do you think would happen if we rally above 13.09?
So surely this is a form of sentiment manipulation? I guess we cannot manipulate supply and demand, but we can manipulate emotions which drive them. Emotions are tightly wound around certain symbolic price points, so it would make sense that forcing the price above or below those price points (albeit artificially) could be a catalyst for real movement around those price points.
What do you think about this?
And what do you think would happen if we rally above 13.09?
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