Topic: Nights Watch by Afrikoin - page 149. (Read 303329 times)
This fork suggests bitcoin might spike up towards $800 (if it can get past resistance on middle of fork)
The x-axis shows the number of Bitcoin users and y axis the average (arithmetic mean) value of their bitcoin holdings in dollars. Taken together these allow us to know what the current price is. Of course the distribution of bitcoins held will not be normal, it probably follows some kind of power law. I still think that using the mean can be informative. The heatmap and contours show the USD/BTC ratio for the given possible combinations of users and average holdings. For example, given a price of $600 either there are 2 million users holding a little under $4k worth of bitcoin each, or 1 million users holding on average ~$7.5k worth.
To predict the future price we would need to guess the distribution of how much each would be willing to hold as well as growth/loss of users.
We have returned to the triangle of IV wave territory which I have been waiting for. this abc is probabloy the first wave of a triangle wave (IV)
minimum tgt 3800 for triangle, wave (V) tgt is 4k + regardless.
minimum tgt 3800 for triangle, wave (V) tgt is 4k + regardless.
You may want to read up on CYN devaluation and then after you read up on that, you may want to look at a correlation chart between CYN/BTC and CYN/USD for the last year.
The last I heard CNY was being devalued by ~ 0.5% rel USD? Is that what we're talking about here?
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
img]http://i.imgur.com/GWa2Dbg.png[/img]
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
img]http://i.imgur.com/GWa2Dbg.png[/img]
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
You may want to read up on CYN devaluation and then after you read up on that, you may want to look at a correlation chart between CYN/BTC and CYN/USD for the last year.
Do you have a website where this correlation chart could be made ? thank you in advance.
Well you can extrapolate from here:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/05/13/USDCNY%20fixing%205.30.jpg
Finally understood what you meant, thank you!
I think we need more empirical data before drawing any conclusion, even though it really looks like last big devaluation last year is coinciding with the steady rise BTC has seen since last August ...
The CNY devaluation explains why the CNY price rose much higher, OK.
For public interest, check Google trends, search bitcoin and the last 90 days, that was the source of the pic I posted earlier.
Public interest will start growing after headlines about the price rise start spreading. For public interest, check Google trends, search bitcoin and the last 90 days, that was the source of the pic I posted earlier.
The CNY devaluation explains why the CNY price rose much higher, OK.
For public interest, check Google trends, search bitcoin and the last 90 days, that was the source of the pic I posted earlier.
For public interest, check Google trends, search bitcoin and the last 90 days, that was the source of the pic I posted earlier.
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
You may want to read up on CYN devaluation and then after you read up on that, you may want to look at a correlation chart between CYN/BTC and CYN/USD for the last year.
Do you have a website where this correlation chart could be made ? thank you in advance.
Well you can extrapolate from here:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/05/13/USDCNY%20fixing%205.30.jpg
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
You may want to read up on CYN devaluation and then after you read up on that, you may want to look at a correlation chart between CYN/BTC and CYN/USD for the last year.
Do you have a website where this correlation chart could be made ? thank you in advance.
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
You may want to read up on CYN devaluation and then after you read up on that, you may want to look at a correlation chart between CYN/BTC and CYN/USD for the last year.
Deconstructing the Bitcoin Market Cap
https://vinnylingham.com/deconstructing-the-bitcoin-market-cap-ce52b0d87035#.m7vhrzxej
https://vinnylingham.com/deconstructing-the-bitcoin-market-cap-ce52b0d87035#.m7vhrzxej
THE PUMP FOLLOWS. Massive pump this one. COuld take us to $850.Im happy.HOLD!!!
China Buying Sparks Bitcoin Surge
http://www.wsj.com/articles/china-buying-sparks-bitcoin-surge-1464608221
Paywall because of direct link. Google it to read. Copy paste of the article:
Chinese investors are pumping up bitcoin again, sending prices up nearly 16% in the past four days just two years after the country that was at the center of a boom and bust in the crypto-currency.
The four-day surge in bitcoin since Friday has added $1.2 billion in market capitalization for all bitcoin in circulation, according to data from blockchain.info. On Monday, prices moved up as high as $525.49 per bitcoin, though that’s still well below the all-time high of around $1,151 in November 2013.
ENLARGE Chinese bitcoin exchanges have been operating despite past efforts by Beijing to curb trading in the currency, which is not subject to any central authority and which can be traded almost instantly across borders.
Huobi and OKCoin, two Chinese exchanges, now collectively account for some 92% of global trading in bitcoin.
The surge in bitcoin buying this weekend could be the latest sign of how Chinese investors are moving money between asset classes quickly in search of high returns. In the past year, equities, bond and commodities markets in China have in turn seen massive surges of new investing, often followed by a collapse in prices as funds have moved elsewhere.
“There’s a lot of hot money in China that has to go somewhere,” says Du Jin, chief marketing officer at Huobi. Huobi has seen a surge of new registrants in the past one month, he said.
Expectations that new supply of the virtual currency will decrease next month could also be behind the latest price surge. The creation of bitcoin via a complicated computing process called “mining” gets more challenging over time, thanks to a mechanism which cuts the number of bitcoin that can be created in half every four years in order to limit supply.
ENLARGE But industry participants also say a number of China-specific factors are also in play.
Stories of scams in peer-to-peer financing have sent Chinese investors familiar with the most innovative forms of investing to bitcoin specifically, says Huobi’s Mr. Du.
The bitcoin network, composed of traders around the globe accessing virtual platforms via their computers and the Internet, also allows a discreet way for a Chinese to move money beyond the country’s tightly-controlled borders.
Bitcoin currently trades at a 7.2% premium when priced in Chinese yuan on mainland bitcoin exchanges compared to counterparts pricing the currency in U.S. dollars, according to industry tracker Bitcoinity.org.
ENLARGE This premium in Chinese prices has persisted throughout the year, suggesting that demand from the country has accounted for much of bitcoin’s recent gains, says Zennon Kapron, founder of financial technology consultancy Kapronasia and author of a book on bitcoin.
Investors are worried about the decreasing value of the yuan and “it seems that China is leading a lot of the movement,” he adds. “People are protecting their investments [by converting yuan into bitcoin].”
China Buying Sparks Bitcoin Surge
http://www.wsj.com/articles/china-buying-sparks-bitcoin-surge-1464608221
Paywall because of direct link. Google it to read. Copy paste of the article:
Chinese investors are pumping up bitcoin again, sending prices up nearly 16% in the past four days just two years after the country that was at the center of a boom and bust in the crypto-currency.
The four-day surge in bitcoin since Friday has added $1.2 billion in market capitalization for all bitcoin in circulation, according to data from blockchain.info. On Monday, prices moved up as high as $525.49 per bitcoin, though that’s still well below the all-time high of around $1,151 in November 2013.
ENLARGE Chinese bitcoin exchanges have been operating despite past efforts by Beijing to curb trading in the currency, which is not subject to any central authority and which can be traded almost instantly across borders.
Huobi and OKCoin, two Chinese exchanges, now collectively account for some 92% of global trading in bitcoin.
The surge in bitcoin buying this weekend could be the latest sign of how Chinese investors are moving money between asset classes quickly in search of high returns. In the past year, equities, bond and commodities markets in China have in turn seen massive surges of new investing, often followed by a collapse in prices as funds have moved elsewhere.
“There’s a lot of hot money in China that has to go somewhere,” says Du Jin, chief marketing officer at Huobi. Huobi has seen a surge of new registrants in the past one month, he said.
Expectations that new supply of the virtual currency will decrease next month could also be behind the latest price surge. The creation of bitcoin via a complicated computing process called “mining” gets more challenging over time, thanks to a mechanism which cuts the number of bitcoin that can be created in half every four years in order to limit supply.
ENLARGE But industry participants also say a number of China-specific factors are also in play.
Stories of scams in peer-to-peer financing have sent Chinese investors familiar with the most innovative forms of investing to bitcoin specifically, says Huobi’s Mr. Du.
The bitcoin network, composed of traders around the globe accessing virtual platforms via their computers and the Internet, also allows a discreet way for a Chinese to move money beyond the country’s tightly-controlled borders.
Bitcoin currently trades at a 7.2% premium when priced in Chinese yuan on mainland bitcoin exchanges compared to counterparts pricing the currency in U.S. dollars, according to industry tracker Bitcoinity.org.
ENLARGE This premium in Chinese prices has persisted throughout the year, suggesting that demand from the country has accounted for much of bitcoin’s recent gains, says Zennon Kapron, founder of financial technology consultancy Kapronasia and author of a book on bitcoin.
Investors are worried about the decreasing value of the yuan and “it seems that China is leading a lot of the movement,” he adds. “People are protecting their investments [by converting yuan into bitcoin].”
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
Sounds like a wave B
For those who believe in a healthy bitcoin price rise, this is not. Public interest almost flat, except the Craig Wright story.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
So it's just another Chinese pump, that may or not resume today. If it resumes, IMO next targets are 615$ and 680$, reachable during the next 2 - 3 days.
Raoul Paul
Bitcoin An inverse head and shoulders low completed and triangle break out. Going much, much higher...
https://twitter.com/RaoulGMI/status/737003449057959936
Too bad the tweet can't embed properly but yeah, we going up, up, up. Sell for that quick profit tho and stack your quarters.Bitcoin An inverse head and shoulders low completed and triangle break out. Going much, much higher...
https://twitter.com/RaoulGMI/status/737003449057959936
This would be a dream, but chart really looks like H&S
Raoul Paul
Bitcoin An inverse head and shoulders low completed and triangle break out. Going much, much higher...
https://twitter.com/RaoulGMI/status/737003449057959936
Too bad the tweet can't embed properly but yeah, we going up, up, up. Sell for that quick profit tho and stack your quarters. Bitcoin An inverse head and shoulders low completed and triangle break out. Going much, much higher...
https://twitter.com/RaoulGMI/status/737003449057959936
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