Lowest volume in 2 years | Bitcointalksearch.org

Bitcoin BEAR

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Quote from: Salivan on January 24, 2014, 08:43:32 AM

Quote from: Tzupy on January 24, 2014, 06:55:37 AM

4) long term MACD shows that the market is about the same as late April 2013, but moves take much longer.

situation is nowhere near late april. No matter what indicators say.
there is a lot of money on sidelines waiting for right moment to enter.

Why is everyone so biased to one side?
There are also a lot of coins on the sidelines waiting for the next directional move. For every coin sold, there is a coin bought, and what used to be the bottom is now a significant unrealized loss. Don't think that every person in this market will hold it to the ground. Some would rather keep some of their purchasing power rather than do nothing and watch it evaporate.

JimboToronto

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Quote from: Apostata on January 24, 2014, 07:15:20 AM

you may want to look at volume in $

Exactly.

Quote from: wobber on January 24, 2014, 07:39:45 AM

High volume in USD is because of the high price. I don't see why could it matter.

Because 1btc at $900 (this is Gox we're talking about) represents more wealth than 1000btc at $0.50?

The high price in USD is precisely why it matters.

kireinaha

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It means a lot of people are still excited from the last rally and expecting it to go back up again, but will probably give up and sell their positions in the next few weeks. Then we should see volume pick up.

rocks

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Quote from: Hyena on January 24, 2014, 07:03:45 AM

Volume in currency, do you speak it?

Yes, this. Thank you.

Holliday

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wobber

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Quote from: Salivan on January 24, 2014, 08:43:32 AM

Quote from: Tzupy on January 24, 2014, 06:55:37 AM

4) long term MACD shows that the market is about the same as late April 2013, but moves take much longer.

situation is nowhere near late april. No matter what indicators say.
there is a lot of money on sidelines waiting for right moment to enter.

Where can you see that money?

Salivan

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Quote from: Tzupy on January 24, 2014, 06:55:37 AM

4) long term MACD shows that the market is about the same as late April 2013, but moves take much longer.

situation is nowhere near late april. No matter what indicators say.
there is a lot of money on sidelines waiting for right moment to enter.

LOADING.READY.RUN

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Quote from: Boxman90 on January 24, 2014, 07:53:54 AM

What it means is that the same amount of USD is still playing the market, while the price is just higher. Resulting in a lower BTC price.

What it means is that Gox almost doesn't matter anymore. It was 80% of the market volume in April, it's 25% of the USD/BTC market volume now (not counting Chinese exchanges because their zero fees make direct comparison difficult).

Take bitstamp's volume and/or BTC-E's volume and the situation looks a lot less dramatic.

Boxman90

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What it means is that the same amount of USD is still playing the market, while the price is just higher. Resulting in a lower BTC price.

Ultimately this means that no actual real money has flowed in, and approximately the same amount of investors (USD volume wise) is playing the market. Aka, bubble territory.

LOADING.READY.RUN

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Quote from: wobber on January 24, 2014, 07:39:45 AM

High volume in USD is because of the high price. I don't see why could it matter.

I don't see why Gox could matter. Look at the other exchanges' volume!

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

Quote from: wobber on January 24, 2014, 07:39:45 AM

Quote from: Apostata on January 24, 2014, 07:15:20 AM

Yeah you may want to look at volume in $

Also not sure if you've been watching but lately the market has been pretty dull waiting for China to sort things out.

High volume in USD is because of the high price. I don't see why could it matter.

You may not care about Bitcoin price in usd. Many other people do.

wobber

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Quote from: Apostata on January 24, 2014, 07:15:20 AM

Yeah you may want to look at volume in $

Also not sure if you've been watching but lately the market has been pretty dull waiting for China to sort things out.

High volume in USD is because of the high price. I don't see why could it matter.

Apostata

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Yeah you may want to look at volume in $

Also not sure if you've been watching but lately the market has been pretty dull waiting for China to sort things out.

Hyena

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Volume in currency, do you speak it?

LOADING.READY.RUN

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It means that no one is using Gox anymore. Just look at the other exchanges.

Other than that, I agree that it's a rather low volume period, which has always been normal for BTC in an undecided market 1.5 months after all time high and big correction.

Tzupy

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IMO it means several things (looking at the chart):
1) Gox market share shrinked a lot (but due to fiat withdrawal problems it still has a decent cushion of fiat).
2) the flow of new fiat into exchanges is unable to sustain an uptrend at these high prices, so buyer pressure is low.
3) HODLers are still waiting for the uptrend to resume, so seller pressure is low for now.
4) long term MACD shows that the market is about the same as late April 2013, but moves take much longer.

fonzie

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