Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25989. (Read 26608321 times)

Doesnt look too bad for today.

Explanation

it makes exactly 0 sense.

Well LTC has the most trading volume among all cryptos, i guess it makes sense that BTC follows it for now.

It's good now, merchants start accepting other coins too beside Bitcoin.

this is getting obvious: after ltc pump comes btc pump.

but I dont think it will go far away.

Because its every traders dream coin. High volume, liquidity, lots of movement and technically sound. Up or down does not matter a quality trader makes equal money bear or bull market.

yes, I was just testing it to buy a ticket and it works like a charm, today there is plenty of places where to spend Litecoin, more than what Bitcoin had last year, beside I think that Litecoin's price will grow bigger and faster than Bitcoin's price, it is more likely that we see LTC @ $50 than BTC at $5000

Indeed, that's a nice strategy. I always want to do that, but then i end up switching positions fast and furious 

I already reserved myself a nice amount ~0.0415% for 30d. Most of the lower offers only have a time range from 2-7 days.

Dang! interest rates on USD at bitfinex are getting lower and lower... they weren't that low from the start of May.

http://www.forbes.com/sites/erikamorphy/2014/09/03/bitcoin-yawn-cheapair-is-now-taking-litecoin-and-dogecoin/

WOW

Explanation

Pure wisdom!

Rule #2: If Rule #1 seems to not apply, somebody is lying

Rule #1: If there is money involved, someone is doing it.

So what if LTC has faster confirmation, there is some altcoins which has superfast confirmation.
Still their price like dust, check Supercoin confirmation time how fast that coin got confirmed.

As many people have noted, in spite of all the talk about adoption there is still comparatively little demand for use as e-currency (and what is bought for that use is usually sold back on the exchanges very soon, since most merchants prefer to get the cash).  Therefore the price is still sustained entirely by demand from speculators and investors.

I would further claim that the price is sustained entirely by short-term speculation, and mostly in the Chinese exchanges.  I believe that the price generally fell from ~800$ to ~400$  from February to April because their interest in bitcoin was wearing out fast. The cause of that may have been the perceived hostile attitude of the PBoC, the MtGOX debacle, or ordinary clients losing money to a few high-frequency or leveraged traders.

By my reading, after the final tough stance by the government in late April or early May, the exchanges made the field more level and reassured their clients through their joint announcement.  That got the price stabilized at 450$.

In my view the late May mini-bubble was due to a surge in demand in Chine, too.  I still don't knwo what caused that demand, but anyway it seems to have all but collapsed, so the price is almost back to the pre-bubble level.

But even the 450--475$ price is still held up by the Chinese short-term speculators.  If it weren't for them, the price would be less than 350$, perhaps as low as 150$.   

If there is manipulation by a few "whales", it is to keep the price up rather than down.  I see hints of that since late May and even now.  However I don't see how that could be profitable; it seems that it would take a lot of money to just fight a natural downwards trend.  Perhaps those whales were just speculating, only with some insider knowledge that made them more optimistic than the average client.

LTC has faster confirmations 

Prepare for the bank holiday that follows.