Perfect storm.
That's what I'm thinking. Too much buying, too much holding. US and China trading off driving the price every 12 hours.
Sticking to it, ATH sometime in the next 7 days.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32134. (Read 26472676 times)
October 21, 2013, 02:51:37 AM
That's what I'm thinking. Too much buying, too much holding. US and China trading off driving the price every 12 hours.
Sticking to it, ATH sometime in the next 7 days.
October 21, 2013, 02:47:36 AM
Perfect storm.
October 21, 2013, 02:39:20 AM
Calling ATH this week!
I just wonder how much of this is being driven by people fleeing gox and how much is actual demand:
There have been months of time to "flee gox" by now. This rally is clearly driven by the chinese markets again.
October 21, 2013, 02:36:54 AM
Calling ATH this week!
That's quite a call, but I think it could happen. If that happens, well,... all bets are off. The milieu is right for a massive rocket. If a "IMF style haircut" happens in addition (which I find unlikely, btw), we're going to meet in Frankfurt for the party sooner than we now think.
October 21, 2013, 02:35:31 AM
Calling ATH this week!
I just wonder how much of this is being driven by people fleeing gox and how much is actual demand:
October 21, 2013, 02:30:22 AM
analysis by Vitalik (bitcoinmagazine): http://bitcoinmagazine.com/7615/bitcoin-breaks-1000-cny-rally-continues/
He compares pattern (using CNY exchange) with pattern from February when we had broken all-time high for a short period, then corrected and subsequently went higher.
I personally think what we see is a kind of bull-flag-like pennant. I know it doesn't match the pattern (no lower lows, no channel), but let's just say: I think the pennant will break upward (or already has) and trend will continue for quite a bit.
He compares pattern (using CNY exchange) with pattern from February when we had broken all-time high for a short period, then corrected and subsequently went higher.
I personally think what we see is a kind of bull-flag-like pennant. I know it doesn't match the pattern (no lower lows, no channel), but let's just say: I think the pennant will break upward (or already has) and trend will continue for quite a bit.
October 21, 2013, 02:22:18 AM
Calling ATH this week!
October 21, 2013, 02:09:26 AM
Crazy business idea: outlets all over the city where you can plug stuff in (mainly to charge phones) where you pay per watt with bitcoins! No need for safe or bill accepter or money pickup services. Just a bank of switchable outlets via deal with neighboring business. Add in wifi for bitcoins if the area is underserviced (public parks?).
October 21, 2013, 02:02:58 AM
BTW anyone seen this service? Recharge your cell phone time with BTC?
lame, I want this:
BTW anyone seen this service? Recharge your cell phone
October 21, 2013, 02:02:03 AM
October 21, 2013, 01:56:35 AM
If there's not enough depth in each direction then I'll just sit and wait. I'm no no rush whatsoever.
You have been invested quite long. Has this strategy paid off, compared to simple buy&hold?
October 21, 2013, 01:12:49 AM
Well the orderbook looks a lot better now that the one guy staggered 1.5mill in bids from 165 - 175. Weird that anyone still has that kind of money on Gox.
It's not entirely out of the question that someone would still wire money to gox. First you have newbies that don't know any better. Then, you have deep pocketed investors who want to get as many COINS as possible regardless of the price. Let's say they want, say, 30,000 coins, they have information that btc is about to take off like a rocket, and they don't have time to fool around. They see the order books on other exchanges and know they couldn't possibly accumulate that many coins there without causing massive slippage and accelerating the rally out of their reach, so they so go for the 30K they can see on the books at gox or that they know the giant gox bots will feed them.Thats true. But you can buy 10k coins <$200 on bitstamp and mtgox right now [both right around 10k] it just doesnt make sense to stagger 1.5mill in bids like that, its just jet fuel, as if this rally needed any more.
BTW, I think gox bots are overrated. They were blamed for the sharp rise to $195 too. I think its very easy that this is just humans being human (stuipid). "Price just rose $10? SHIT!!", and then others follow at $15,... etc.
These bots are apparently awful traders, so why would any one run them with large sums of money?
October 21, 2013, 01:04:31 AM
Well the orderbook looks a lot better now that the one guy staggered 1.5mill in bids from 165 - 175. Weird that anyone still has that kind of money on Gox.
It's not entirely out of the question that someone would still wire money to gox. First you have newbies that don't know any better. Then, you have deep pocketed investors who want to get as many COINS as possible regardless of the price. Gox has liquidity. Let's say they want, say, 30,000 coins, they have information that btc is about to take off like a rocket, and they don't have time to fool around. They see the order books on other exchanges and know they couldn't possibly accumulate that many coins there without causing massive slippage and accelerating the rally out of their reach, so they so go for the 30K they can see on the books at gox or that they know the giant gox bots will feed them. October 21, 2013, 01:03:07 AM
...am i seeing this right, the wall is actually at 190.08?
You're mistaken; just 600 on 190. The other day there were some odd walls at random cent values like $180.02, and they kept going on and off.. so maybe you caught one of them?
October 21, 2013, 01:01:58 AM
October 21, 2013, 01:00:16 AM
...am i seeing this right, the wall is actually at 190.08?
ignore me, was reading it wrong.
ignore me, was reading it wrong.
October 21, 2013, 12:59:27 AM
Yes. However I think its too much a coincidence that these buys just started happening now that the Chinese got underway.
October 21, 2013, 12:57:59 AM
189 just got eaten up. Definitely Chinese driven
You do realize buys of this size [small, under 1k] come all the time and is likely totally unrelated to the Chinese rally?
October 21, 2013, 12:47:45 AM
189 just got eaten up. Definitely Chinese driven
October 21, 2013, 12:02:05 AM
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