Also rumours about Netflix accepting BTC soon:
http://www.reddit.com/r/Bitcoin/comments/1ue9kh/max_keiser_netflix_considering_bitcoin/
Topic: Overstock News, Branson News, Singapore News (Read 1349 times)
The price has risen 570% (or so) in the last two months. So, I don't understand the question.
The question is about news effect on price. Why did it rise 570%? It wasn't any news story that Im aware of.
Well then let's watch NewEgg!
The price has risen 570% (or so) in the last two months. So, I don't understand the question.
The question is about news effect on price. Why did it rise 570%? It wasn't any news story that Im aware of.
The price has risen 570% (or so) in the last two months. So, I don't understand the question.
The question is about news effect on price. Why did it rise 570%? It wasn't any news story that Im aware of.
Plus, think about it. Everyone test shopping on Overstock.com means that all those coins which were probably held for a long time are now being spent. They are being immediately sold into the marketplace on Coinbase. So the news is pulling the price up while the selloff is tanking the price at the same time. Net effect, not too much.
Events like a positive senate hearing are beneficial to the Bitcoin concept as a whole and add confidence and belief.
Heavy retailer involvement directly affects market action. Overall it's amazing news and adds to the ultimate momentum but it might unsettle the day trading masses in the short term and they're often leading the price.
Heavy retailer involvement directly affects market action. Overall it's amazing news and adds to the ultimate momentum but it might unsettle the day trading masses in the short term and they're often leading the price.
The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.
I keep looking at the BTC volume, and then at the fiat volume, and it's hard to decide which one is the more significant indicator. BTC volume is down. But fiat volume is up (never been higher).
Yep! No-one feels very safe or sure and on we float!
The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.
I keep looking at the BTC volume, and then at the fiat volume, and it's hard to decide which one is the more significant indicator. BTC volume is down. But fiat volume is up (never been higher).
The positive news right now is like trying to move a train (choo choo). In these images I'll point out how the trend prior to the news was broken and how it resembled the trend in may prior to final capitulation.
America wakes up, sees high priced coins, sells off.
China wakes up, sees low priced coins, buys up.
The cycle continues.
China wakes up, sees low priced coins, buys up.
The cycle continues.
The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.
TERA I think you will find that the bouyancy is stronger than you think now.
Sometimes it's daunting watching the price hanging there isn't it? But so it goes on, for weeks now. I would recommend trying to get used to Bitcoin's new chilled out attitude!
Just remember who are bears and bulls and judge their opinion based upon bias. The funny thing is that in both cases greed applies, either for more bitcoin or dollar. Yes, news do effect price. Often it takes longer than one would expect in either direction. Many times I have read about good news or bad and I am often surprised at how slow the market is to react.
The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.
The UNHODL effect
The price has risen 570% (or so) in the last two months. So, I don't understand the question.
The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.
The overstock news is old at this point, they just happened to start accepting it earlier than expected and that caused some excitement on a otherwise brutal news day. The market is in the middle of sorting itself out after a massive multi month long super rally so it could take a while for the engines to be full charged once more.
Does any of this bullish news actually effect the price? It doesn't seem to more than 10%. The bear news seems to plummet the price. Humans are negative.
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