Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27788. (Read 26710675 times)
May 10, 2014, 08:00:54 PM
May 10, 2014, 07:38:52 PM
A theory why the price went up these last 2-3 days, but only by a little:
The less sophisticated traders at the Chinese exchanges were losing interest because they could not compete with the high-frequency traders. Little by little they were selling their coins and cashing out. Now that the exchanges have promised to charge fees for HFT (and stopped leveraged trading since yesterday), some of those simple traders, who were already selling their coins but had not withdrawn the money yet, decided to get back in the game to see whether their luck would improve. So the bought back some coins, got excited when the price went up a bit, bought some more, etc.. But there weren't many such traders, and the trading did not get much easier, so the rally soon stalled.
I thought the going theory was that the shorts had to close their positions before leverage was removed. The less sophisticated traders at the Chinese exchanges were losing interest because they could not compete with the high-frequency traders. Little by little they were selling their coins and cashing out. Now that the exchanges have promised to charge fees for HFT (and stopped leveraged trading since yesterday), some of those simple traders, who were already selling their coins but had not withdrawn the money yet, decided to get back in the game to see whether their luck would improve. So the bought back some coins, got excited when the price went up a bit, bought some more, etc.. But there weren't many such traders, and the trading did not get much easier, so the rally soon stalled.
May 10, 2014, 07:37:38 PM
Within a few days we'll be over 520.00 New highs on the mid term horizon.
PLEASE tell why you think so before even throwing out a number like that. Just as much as "5k next year" is stupid.
May 10, 2014, 07:33:59 PM
A theory why the price went up these last 2-3 days, but only by a little:
The less sophisticated traders at the Chinese exchanges were losing interest because they could not compete with the high-frequency traders. Little by little they were selling their coins and cashing out. Now that the exchanges have promised to charge fees for HFT (and stopped leveraged trading since yesterday), some of those simple traders, who were already selling their coins but had not withdrawn the money yet, decided to get back in the game to see whether their luck would improve. So the bought back some coins, got excited when the price went up a bit, bought some more, etc.. But there weren't many such traders, and the trading did not get much easier, so the rally soon stalled.
The less sophisticated traders at the Chinese exchanges were losing interest because they could not compete with the high-frequency traders. Little by little they were selling their coins and cashing out. Now that the exchanges have promised to charge fees for HFT (and stopped leveraged trading since yesterday), some of those simple traders, who were already selling their coins but had not withdrawn the money yet, decided to get back in the game to see whether their luck would improve. So the bought back some coins, got excited when the price went up a bit, bought some more, etc.. But there weren't many such traders, and the trading did not get much easier, so the rally soon stalled.
May 10, 2014, 07:27:05 PM
Almost there. But this is where black swan usually appears and causes failure on high volume.
May 10, 2014, 07:20:39 PM
Interesting things are happening on bitstamp. Price managed to deny every downwards trendline I am able to draw.
Bull market, here we are again!
whats more, is those trend lines are turning into support.
If you can't see that this is a breakout, you are blind:
May 10, 2014, 07:00:53 PM
May 10, 2014, 07:00:13 PM
Some of you are seriously cheering for a necro of mtgox?
Just know that you'll deserve any and all of the abuse you're going to get if that piece of shit exchange gets a second chance.
Just know that you'll deserve any and all of the abuse you're going to get if that piece of shit exchange gets a second chance.
Yep, just why I don't get. Just take your 20% and let it die. Open a criminal investigation and find out what actually happened and close the case.
You are living in a dreamspark (oh wait?) if you believe that there is going to be any meaningful criminal investigation.
Didn't say it would happen, just that is clearly exactly what should be happening, even if it doesn't its still the course of action that should be being taken.
I agree with you, but I just could NOT resist making the statement.
May 10, 2014, 06:39:02 PM
Quote from: TheBitcoinTimes
The new world order government has declared that bitcoin is doomed. The deadline for dooming is Jun 14. All bitcoins are to be disposed of in fire under a brimstone.
May 10, 2014, 06:38:20 PM
What's taking so long for the latest doomsday PR to come out and stop the breakout attempt?
The PBOC never releases FUD on weekends.
May 10, 2014, 06:35:03 PM
What's taking so long for the latest doomsday PR to come out and stop the breakout attempt?
What we need now is a new deadline.. for DOOOM (again)
May 10, 2014, 06:29:04 PM
What's taking so long for the latest doomsday PR to come out and stop the breakout attempt?
May 10, 2014, 06:08:35 PM
I don't think [ Purse.io ] has anything to do with the big thing Bitpay twitted about before, I also don't see how this system is going to work anyway, especially for 3rd world and developing countries where Paypal and most credit cards doesn't work....
Not to mention that customs and shipping to those countries are usually a big hassle and MUCH more expensive than credit card fees. And the risk of theft in transit is not negligible. And you rarely get a valid warranty. For most items, is usually better to buy locally from an importer.I read somewhere that BitPay just got another lump of venture capital investment, could that be it?
May 10, 2014, 06:04:59 PM
Within a few days we'll be over 520.00 New highs on the mid term horizon.
May 10, 2014, 06:00:53 PM
May 10, 2014, 05:45:58 PM
Slight rally mode engaged. Randomly some volume out of nowhere.
May 10, 2014, 05:45:29 PM
RAAAAAAAAAAAALLLLLLLLLLLLLLLYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
To $465? Lol
He may be trying to influence the bots that read the thread
Looks like huobi wants to go down already
Will the bulls show up to save the day?
Will the bulls show up to save the day?
They show up but they don't save the day, they just get cheap coins
The price is down
Bulls, believers, traders that think it will go up push the price up
I'm guessing with the Sunlot plan, the clients have a small chance to get back their entire account. At least in a long time.
That is just spin. They propose to give back (say) 10% of the assets and force clients to invest the other 10% into MtGOX2.0, and will count their share of whatever profit that MtGOX2.0 may make as the payment of the other 90%. Why is that better than giving clients the full 20%, so that they can invest those same 10% into Apple stock instead? The clients will surely recover their 90% back much faster this way.Instead of getting 20% back they might get 10% back and they would get the equivalent of 15% worth of shares of the new company : the reasoning is that there is some added value with mtgox 2.0 and that the traders will have an incentive to do business with the new entity so the new entity will have some profits that will pay back the old clients
But you are right that most clients would chose to get 20% and do whatever they want with it instead of getting 10% back and shares of a company but some judges like to control and they attempt to take the decisions for someone else
May 10, 2014, 05:44:04 PM
Serious buying going on at Stamp with little intervals. Anyone knows why?
It could be the BitPay story and other good news. I think that most traders have concluded that China is not fit to lead anymore. At this point I think it is more likely that the China will follow western exchanges than the other way around. This alone could be bullish if it is true. Also much of the China exit should be priced in by now. Thirdly some TA indicates that we could get (upwards) correction around may 10th. Finally people have become bored with $450
May 10, 2014, 05:39:13 PM
Serious buying going on at Stamp with little intervals. Anyone knows why?
bitpay tweets?
May 10, 2014, 05:39:01 PM
RAAAAAAAAAAAALLLLLLLLLLLLLLLYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
To $465? Lol
Don't forget your space suit for tommorow when you wake up.
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