Topic: Senate reaches deal to end shutdown, avoid default - CNN.com (Read 2957 times)
Just put in big buy order at Bitstamp at $125.02. Lets see if we can get that low 
Why not in front of the bidwall at 125.88?
Just put in big buy order at Bitstamp at $125.02. Lets see if we can get that low
Was there ever any doubt?
Just now: House of Congress vote in progress: Already clear that Deal will be passed!
Prices keep dropping, Bitstamp with massive sell of 1159 BTC to 135$/BTC
Prices keep dropping, Bitstamp with massive sell of 1159 BTC to 135$/BTC
Just now: Senate votes in favor of Dept Ceiling Deal by 81 Yaes, 18 Naes; House votes next (in the next few hours).
Debt ceiling reaction up or down is 100% psychological. There are no actual market forces here, unlike say with FX, equities, commodities. Of course, if people believe in it, it's basically true, to a point, as the bottom can fall-out much faster when something is moving on perception alone.
http://edition.cnn.com/2013/10/16/politics/shutdown-showdown/index.html?hpt=hp_t1
Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?
Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?
It will be like the Silk Road crash. A bunch of people mistakenly think other people will sell... when not as many people sold as the bears expected, Bitcoin will seem "resilient" and the price will climb back.
Incorrect; the price cannot drop because:
1. Gox is leader
2. Gox fiat isnt able to be withdrawn, which means..
3. Selling can only be in an attempt to buy lower, which means..
4. Price drops can only be short term, and until people who sold panic and buy coins again.
Only way a seller can withdraw is if they are a whale and willing to take a big fee. Small guys are SoL.
I think what happens is day traders and bots panic sell and the large investors come out of the woodwork to accumulate the cheap coins. This leaves the day traders and bots (as a collective) needing to rebuy at a loss, creates an imbalance of force, and drives the price even higher than where it started.
http://edition.cnn.com/2013/10/16/politics/shutdown-showdown/index.html?hpt=hp_t1
Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?
Price already falling hard - Was this whole rally built on default fantasies (hint at recent polls in this thread)?
It will be like the Silk Road crash. A bunch of people mistakenly think other people will sell... when not as many people sold as the bears expected, Bitcoin will seem "resilient" and the price will climb back.
The government shutdown nonsense was just political theater.
The reason for the small correction is simple if you look at a 7-day chart: the price was on a mini-exponential curve and started going up faster-than-exponential, which means it's virtually guaranteed to correct.
Nothing moves in a straight line. If it did, we'd be at mainstream-adoption prices by Christmas.
In sum, the price was already very overbought, so it was looking for any trigger to correct, and this news may have been it. But as an investor this is exactly the kind of thing you have to learn to see through. Anything in overbought territory will correct at the drop of a hat; don't get distracted by the style of hat it happens to be.
The reason for the small correction is simple if you look at a 7-day chart: the price was on a mini-exponential curve and started going up faster-than-exponential, which means it's virtually guaranteed to correct.
Nothing moves in a straight line. If it did, we'd be at mainstream-adoption prices by Christmas.
In sum, the price was already very overbought, so it was looking for any trigger to correct, and this news may have been it. But as an investor this is exactly the kind of thing you have to learn to see through. Anything in overbought territory will correct at the drop of a hat; don't get distracted by the style of hat it happens to be.
Just FYI, rather than this being an overestimate of the impact of avoiding a default, this might just be a correction, compensating for an overestimate of the probability of a default occurring in the first place.
do you really think that was driving the bull run to begin with? i dont. but what do i know?! I don't really know, or particularly care because its still trending up with or without it. Just saying this isn't necessarily a "buy on the dip" moment for day traders because the dip has the potential to be a good ~$5-10 lower.
Just FYI, rather than this being an overestimate of the impact of avoiding a default, this might just be a correction, compensating for an overestimate of the probability of a default occurring in the first place.
do you really think that was driving the bull run to begin with? i dont. but what do i know?!
Just FYI, rather than this being an overestimate of the impact of avoiding a default, this might just be a correction, compensating for an overestimate of the probability of a default occurring in the first place.
USG wouldn't have defaulted anyway. It's something else.
What is something else? The reason for the rise, or the reason for the drop?
But.. its.. responsible, in part, for the rise... and, this current drop.. no? lol
It's a combination of the gox situation, asic producers and the way the Chinese media reported on the US Govt shut-down.
No, it's day traders people! Gess. Such ignorance on here.
It's not panic sells. It's day traders. Buy the rumor sell the news. No one thought the US would default and then sold with shock and panic at the news! Lol!
Bitcoin markets just starting to behave with patterns, albeit less sophisticated and easier to play than the stock market.
Bitcoin markets just starting to behave with patterns, albeit less sophisticated and easier to play than the stock market.
Well resumed. +1
It's not panic sells. It's day traders. Buy the rumor sell the news. No one thought the US would default and then sold with shock and panic at the news! Lol!
Bitcoin markets just starting to behave with patterns, albeit less sophisticated and easier to play than the stock market.
Bitcoin markets just starting to behave with patterns, albeit less sophisticated and easier to play than the stock market.
Why do you think it's all panic sells? Maybe some people just wanna cash out a few bitcoins to buy christmas presents or spekulatius cookies.
I bet that there's also some of those old 3$/btc coins around and maybe some people just come back to it and sell since they need moneys, you'll never know.
I bet that there's also some of those old 3$/btc coins around and maybe some people just come back to it and sell since they need moneys, you'll never know.
Because people are all going to agree at the same exact minutes that its time to sell their BTC to buy presents
You cant be serious.
Why do you think it's all panic sells? Maybe some people just wanna cash out a few bitcoins to buy christmas presents or spekulatius cookies.
I bet that there's also some of those old 3$/btc coins around and maybe some people just come back to it and sell since they need moneys, you'll never know.
I bet that there's also some of those old 3$/btc coins around and maybe some people just come back to it and sell since they need moneys, you'll never know.
Jump to: