Looks more like someone simply bought 10k, and that made it rise.
Pushing price along is a profitable tactic if it's off far enough. If that person believes a BTC is worth over 4 USD, he will not care whether he buys at 2.4 or 2.6, he just wants to be faster than others to realise the opportunity.
I don't know whether it's smart right now, the huge seller two days ago kind of flooded the market. But generally, I agree. The price is rather low, so if one believes that is wrong, the exact buying tactics aren't super important, and pushing is the only way to make sure one gets the coins.
It's all about what a coin is really worth, as in speculation. Can't say that this particular move looked stupid.
Topic: Spike finished, going back to 2 (Read 5146 times)
Someone seems to be trying to push it, and there looks to be more in the way of support moving in.
From the candlesticks it looks like someone is pushing bidwalls higher and higher while getting hit by sells all the time. I don't exactly get why anybody would be doing this. Wouldn't a buyer want to buy at a lower price?
The market doesn't seems to want to go there but if someone has alot of cash he could push alot further.
Sigh, since when has pushing the price become the major part of market movements...
Someone seems to be trying to push it, and there looks to be more in the way of support moving in.
Was this it?
we spiked over 2.5...
There seems to be some resistance though, slowly down again? Or do you think it will go further?
we spiked over 2.5...
There seems to be some resistance though, slowly down again? Or do you think it will go further?
Holy crap, I'm right again!
You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.
An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents. It will be much harder to shake these people out.
Not at all (though some may.) Different people get greedy about different things.
Current projections are grim, way more grim than ever. The reason is that the hype cycle has failed to evolve into an idea, but rather it looks like a hyped business. There might be some upside if we reach a somewhat stable region and a slight uptrend in the next couple of months.
But if there is another, smaller parabola it's over.
But if there is another, smaller parabola it's over.
In my opinion, the best thing that could happen for Bitcoin is that it lays low and remains off the radar until such time as it is actually needed. I doubt that it will ever die of old age since it is to interesting to to many geeks. Whether corpgov could do the deed I am not sure. I actually doubt that they could at this time. It also could get a terminal zero-day sickness, or be hit from within by development sabotage or splintering.
Holy crap, I'm right again!
You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.
An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents. It will be much harder to shake these people out.
Current projections are grim, way more grim than ever. The reason is that the hype cycle has failed to evolve into an idea, but rather it looks like a hyped business. There might be some upside if we reach a somewhat stable region and a slight uptrend in the next couple of months.
But if there is another, smaller parabola it's over.
Holy crap, I'm right again!
You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.
An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents. It will be much harder to shake these people out.
With the price so low and the volume in dollars down, any significant trades now yank the price around by a substantial percentage. That encourages manipulation. There's only about $250K of volume per day on Mt. Gox now, and much of that is 'bots running the same money back and forth.
Pink Sheet penny stocks show similar volatility when someone is playing them.
Pink Sheet penny stocks show similar volatility when someone is playing them.
Down, down we go. http://en.wikipedia.org/wiki/Tulip_mania
My initial prediction of the price dropping from 20-25$ per bitcoin down to $5 was wrong, apparently. There is less of a foundation in bitcoin's usability as a currency than even I, the most trollish bear, predicted.
Down, down we go
Bet you guys wish you had your cash in U.S. stock right now? Ron Paul lead you astray? Don't feel bad, don't cry too hard.
My initial prediction of the price dropping from 20-25$ per bitcoin down to $5 was wrong, apparently. There is less of a foundation in bitcoin's usability as a currency than even I, the most trollish bear, predicted.
Down, down we go
Bet you guys wish you had your cash in U.S. stock right now? Ron Paul lead you astray? Don't feel bad, don't cry too hard.But...but....you said it was only going to go down to five!!!
Seriously tho, regardless of orientation.....I wouldn't touch stocks with a toxic waste handling robot right now. At least with bitcoin I am under no illusion about the risk involved, with stock...who the fuck knows at this point in time, might be good time for bargain hunting, might be too soon.....the tea leaves and charts will tell :p
Down, down we go. http://en.wikipedia.org/wiki/Tulip_mania
My initial prediction of the price dropping from 20-25$ per bitcoin down to $5 was wrong, apparently. There is less of a foundation in bitcoin's usability as a currency than even I, the most trollish bear, predicted.
Down, down we go Bet you guys wish you had your cash in U.S. stock right now? Ron Paul lead you astray? Don't feel bad, don't cry too hard.
My initial prediction of the price dropping from 20-25$ per bitcoin down to $5 was wrong, apparently. There is less of a foundation in bitcoin's usability as a currency than even I, the most trollish bear, predicted.
Down, down we go
Bet you guys wish you had your cash in U.S. stock right now? Ron Paul lead you astray? Don't feel bad, don't cry too hard. Holy crap, I'm right again!
You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.
One of the best things lately. And that's why the Elliot Wave Theory that netrin and others placed here is real.
Holy crap, I'm right again!
You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.
It's not at 2 yet 
Holy crap, I'm right again!
Sargent Spike is never finished!
Never!Yes. And bought a some thousand coins at 2.1
Well played then, well played.i thought a 50% spike in the price is bad for Bitcoin?
Sargent Spike is never finished!
Never!Yes. And bought a some thousand coins at 2.1
Well played then, well played.i thought a 50% spike in the price is bad for Bitcoin?
Sargent Spike is never finished!
Never!Yes. And bought a some thousand coins at 2.1
Well played then, well played.
Yes. And bought a some thousand coins at 2.1
Sargent Spike is never finished!
Lol, OP was wrong.
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