Author

Topic: Is china causing this 500+ rally? (Read 968 times)

hero member
Activity: 742
Merit: 500
May 20, 2014, 01:00:31 PM
#7
No.

Bitstamp is leading the charge, all other exchanges, including Chinese, are chasing Bitstamp at this point.
Actually no, the mega pump buy started exactly at 16:05 at Huobi (look at the huge spike in volume), Bitstamp followed.
sr. member
Activity: 448
Merit: 250
May 20, 2014, 12:56:08 PM
#6
Price wants to be at equilibrium, I.E., one of the long term trendline plots today's price at around $800. Naturally, bitcoin price is moving towards where it should be. We have a ways to go, then.
hero member
Activity: 798
Merit: 1000
May 20, 2014, 12:48:50 PM
#5
Also, we still haven't found the reason for this rise, no news, no FUD, no anything.

Why isn't it possible that the infrastructure growth and adoption levels are finally carrying the price upwards?

Not everything is as a day trader sees it (short term fud/alerts, short term price spikes/drops).

Smart people are holding long term and have been waiting for this.

Maybe there is no specific reason.  Except increased worldwide awareness/investing/adoption/commerce.

-B-

Yes, but if it's that, it should slowly go up, not spike from $450 to $500.
hero member
Activity: 924
Merit: 1001
May 20, 2014, 12:46:43 PM
#4
Also, we still haven't found the reason for this rise, no news, no FUD, no anything.

Why isn't it possible that the infrastructure growth and adoption levels are finally carrying the price upwards?

Not everything is as a day trader sees it (short term fud/alerts, short term price spikes/drops).

Smart people are holding long term and have been waiting for this.

Maybe there is no specific reason.  Except increased worldwide awareness/investing/adoption/commerce.

-B-
hero member
Activity: 798
Merit: 1000
May 20, 2014, 12:42:40 PM
#3
No.

Bitstamp is leading the charge, all other exchanges, including Chinese, are chasing Bitstamp at this point.

I expect the price to get up to at least $500 by the end of the day. Also, we still haven't found the reason for this rise, no news, no FUD, no anything.
sr. member
Activity: 448
Merit: 250
May 20, 2014, 12:28:14 PM
#2
No.

Bitstamp is leading the charge, all other exchanges, including Chinese, are chasing Bitstamp at this point.
hero member
Activity: 518
Merit: 500
May 20, 2014, 12:26:50 PM
#1
I am watching huobi bitcoin wisdom and fiatleak (5k btc in half an hour vs average <500).  I know fiatleak shows total volume (buying and selling) and not reliable since no fees to trade.

So is this a genuine rally after months of bearish news?  Is china manipulating the market, perhaps a whale?

What will we see later in the week or next week?  
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