Topic: inau's secret rocket - page 6. (Read 13352 times)

Post the poop or GTFO!

i still see only about 30k real ask orders

we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up...

are you ready?

I'll guess oh...$4.50 

lets tally the events shall we.

the word is out you can easily buy drugs with bitcoin, bitcoin rocks, raw raw raw, the next day bitcoin is worth 30$

the day after that we learn that.. well bitcoin isn't as anonymous as we thought, and hackers love bitcoin. bitcoin is worth 15$

the fallowing week bitcoin is scrutinized, price continues to drop.

In the mist of a lot of bad news bitcoin speculators and small time investors are eager to buy 1,000 bitcoins at 1.xx$... but the market is not stupid and refuses to sell bitcoins below 2.xx.

the next day, we are all very relieved to see that bitcoin will indeed survive above 2$

the next week the NEWS has no choice but take back what they said and admit bitcoin is strong! prices rise, volume doubles

speculators, hoarders and traders Start selling their coins at the "top"! surprisingly it is very easy. Hundreds of thousands of coins are traded above 6$, every day for 2 weeks,

Bitcoinia users become overly confident that the market will bounce back from 6$ to 7$ and everyone goes long. the market dips down slightly causing a Zhoutongization effect! in under 2 hour we see a low 4.64$ and a high of 7$ only to close at 6$

another attempt at breaking 7$ starts only to be stopped at 6.66$

7$ seems like a yesterdays pipe dream, someone drops a knife. 10,000BTC wall at 5.20 effectively catches the knife.

the price beings to move up again.

5.75$ sounds sell alarms.

tomorrow... is anyone guess, i cant wait!  

And for perspective: a year ago, Jan 29th 2011, MtGox volume was $644.  Not k: just $644.00 USD.  Bitcoins were selling for $0.44, so that's a whole 1436 btc traded that day.

+1,000,000,000

Duly noted.

+1

I think that associating lowish volume with price drops is flawed. A large majority of Bitcoin trading is speculative, both buying AND selling. There is no drastic difference in the need for people to either buy bitcoins or buy dollars in this market environment. For example, during the rise from $2 to $7 we had many occasions of low volumes, yet the price was climbing up, slowly. Often there was a larger buy afterwards which lead to a rally of some kind.

If someone wants to argue this point, then there needs to be some data to support it. I have a hard time believing that lowish volume is always followed by a price drop. This was probably the case during the fall but we are in a different environment now. To me the price is on fairly neutral ground and it's truly quite hard to say where it'll go next.

In fact I think that a lot of times the reason we have a price drop after lowish volume is because someone is expecting a price drop and decides to go first, which then others follow. This is very important because a lot of what speculators do is based on what they think others will do.

I'm back in.  Go.

I agree with The Dude.

The Dude said no.

Post your shits or it isn't happening.
 

i try my best

This thread title sounds like a boudoir apparel store for men. 

As metaphors on this forum go, I find the idea of a "secret rocket launch" to be one of the most distinct.

Anyway, we'll see; I'd like to see the price go up, even if I won't be able to help much.

LOL...

I'm drinking Alexander Keith's Red Amber Ale 

Cheers!