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Topic: Uncharted territory. What happens at $266? (Read 4750 times)

legendary
Activity: 1002
Merit: 1000
Bitcoin
November 07, 2013, 09:15:58 AM
#44
I think we'll probably blow right by it, since this rally seems to be driven by the chinese, and $266 has no significance for them.

Except that the common chinese worker cannot afford to risk even $100 into bitcoin.

but 1 billion chinese can affort to risk 1$ into Bitcoin !
full member
Activity: 176
Merit: 103
November 06, 2013, 08:46:31 AM
#43
Have a seat and enjoy the ride.


What app is what?
full member
Activity: 176
Merit: 103
November 06, 2013, 08:45:25 AM
#42
I make mad cash. That's what happens. N
legendary
Activity: 966
Merit: 1004
CryptoTalk.Org - Get Paid for every Post!
November 06, 2013, 08:42:35 AM
#41
Have a seat and enjoy the ride.

full member
Activity: 159
Merit: 100
November 06, 2013, 04:55:35 AM
#40
Next stop, $290!

¥1750
And we're not stopping. Maybe slow down a little.
rpg
hero member
Activity: 728
Merit: 500
November 06, 2013, 12:24:16 AM
#39
2000 Yuan - ~$328
legendary
Activity: 1652
Merit: 1067
Christian Antkow
November 06, 2013, 12:17:34 AM
#38
Woot !

sr. member
Activity: 308
Merit: 250
November 06, 2013, 12:12:04 AM
#37
Oh, and what happens at $266? This just happened....



That's what happens!
sr. member
Activity: 308
Merit: 250
November 06, 2013, 12:11:35 AM
#36
I think we'll probably blow right by it, since this rally seems to be driven by the chinese, and $266 has no significance for them.

Except that the common chinese worker cannot afford to risk even $100 into bitcoin.

The common chinese worker are not the ppl making speculative bitcoin investments... there is a lot of money in China.
legendary
Activity: 1834
Merit: 1019
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
November 06, 2013, 12:00:09 AM
#34
We are in uncharted price territory but in terms of market sentiment...

"we've only just begun...."  ~ The Carpenters

full member
Activity: 182
Merit: 100
Fourth richest fictional character
November 05, 2013, 11:46:44 PM
#33
Next stop, $290!
legendary
Activity: 1064
Merit: 1001
November 05, 2013, 08:06:07 PM
#32
Except that the common chinese worker cannot afford to risk even $100 into bitcoin.
It's the common American worker cannot afford investments, because he have to buy 100-inch TV first. Chinese worker cannot afford to not invest.

+1

Chinese priorities: health, wealth & family

American priorities: big screen TV, SUV & "Dancing with the Stars"

Conclusion: Bullish based on Chinese common sense despite vapid American priorities.


+258.88
copper member
Activity: 1380
Merit: 504
THINK IT, BUILD IT, PLAY IT! --- XAYA
November 05, 2013, 08:05:05 PM
#31
Except that the common chinese worker cannot afford to risk even $100 into bitcoin.
It's the common American worker cannot afford investments, because he have to buy 100-inch TV first. Chinese worker cannot afford to not invest.

+1

Chinese priorities: health, wealth & family

American priorities: big screen TV, SUV & "Dancing with the Stars"

Conclusion: Bullish based on Chinese common sense despite vapid American priorities.
hero member
Activity: 798
Merit: 1000
Who's there?
November 05, 2013, 07:20:14 PM
#30
Except that the common chinese worker cannot afford to risk even $100 into bitcoin.
It's the common American worker cannot afford investments, because he have to buy 100-inch TV first. Chinese worker cannot afford to not invest.
sr. member
Activity: 378
Merit: 255
November 05, 2013, 05:56:45 PM
#29
True, but back then Americans were watching what Americans knew to be the ATH.  Now we have Chinese investors that don't know or care and they are the majority.

We should arrive at ¥1600 and $266 more or less simultaneously, so the Chinese may perceive it as resistance around ¥1600.

You're right.  I didn't do my homework.  So much for that theory.

Yep, it's gonna be a megawall.
legendary
Activity: 1582
Merit: 1001
November 05, 2013, 05:56:11 PM
#28
Except that the common chinese worker cannot afford to risk even $100 into bitcoin.

China is #2 in GDP. There's plenty of money there.

... agreed it won't take much to blast this market to 1000 usd there are  to few bitcoins for sale with so much interest
If you are gonna gamble on a drop make sure you have a trigger limit sitting above the next wall .
full member
Activity: 159
Merit: 100
November 05, 2013, 05:35:21 PM
#27
True, but back then Americans were watching what Americans knew to be the ATH.  Now we have Chinese investors that don't know or care and they are the majority.

But often significant rates roughly coincide. We should arrive at ¥1600 and $266 more or less simultaneously, so the Chinese may perceive it as resistance around ¥1600.

There is actually an interesting wiki site on numbers in Chinese culture, and given the superstitious nature of many Chinese, I thought it may be of interest in the coming weeks/months.

http://en.wikipedia.org/wiki/Numbers_in_Chinese_culture

In the short rally so far, I have, however, not been yet been able to spot any correlation between this and events in BTC rates on the Chinese exchanges,
legendary
Activity: 3878
Merit: 1193
November 05, 2013, 05:07:56 PM
#25
Except that the common chinese worker cannot afford to risk even $100 into bitcoin.

China is #2 in GDP. There's plenty of money there.
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