Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32286. (Read 26720873 times)
November 07, 2013, 06:15:27 AM
Wtf did I just wake up to??
November 07, 2013, 06:13:05 AM
woot - I sold and bought back in for a profit of .01 btc
November 07, 2013, 06:11:45 AM
http://finance.yahoo.com/news/bitcoin-total-joke-224200448.html
well... joke is the correct term. regarding the article.
well... joke is the correct term. regarding the article.
November 07, 2013, 06:10:32 AM
How did all these Chinese get all their money into MtGox ?
It's only in the last couple of hours that gox took the lead. Up to a certain point China, gox and stamp were pretty much headed up together (with China ahead on price). Since then gox has stuck its neck out and it is understandable that someone waking up to it now would think this was gox-led therefore unlikely to be sustainable. But after a certain point China Stamp and btc-e put the brakes on and when that happens it looks like gox is on a retractable leash whereas it can run off ahead enthusiastically barking and only if the others decide to follow will we go in that direction, otherwise it will get pulled back! November 07, 2013, 06:07:19 AM
How did all these Chinese get all their money into MtGox ?
Who says they did?
November 07, 2013, 06:06:23 AM
How did all these Chinese get all their money into MtGox ?
November 07, 2013, 06:02:51 AM
China + BIT + news = BOOM.
That was basically my thesis:
China has really followed through, with investor excitement and repeated national news agency support. The only question was whether wealthy investors would actually buy the BIT, or if it was just a gimmick. Turns out they did, to the tune of $15 million in six weeks so far, and likely to grow massively from there. There haven't even been any haircuts yet.
We rockin' now baby!
That was basically my thesis:
14 big reasons:
*Remember March 11? Slow orphan blocks, hard fork, double-spend --> FLASH CRASH --> price ultimately unaffected, proving in people's minds that the growth from January through March 11 wasn't just silly speculation and vapors but real support, so then people threw caution to the wind and piled in without reservation
- China
- Second Market Bitcoin Investment Trust delayed effect
- SR had 100,000 users engaging in active commerce, proving Bitcoin is a very real medium of exchange
- SR shutdown caused only a flash crash, proving the current price level is solid*
- SR shutdown generated a lot of Bitcoin publicity, the trial guarantees more, plus feds have Bitcoin wallet
- DPR's huge cold wallet is reportedly untouchable; off-shore account holders' ears are perking up
- SR shutdown proved SR was not a critical part of the Bitcoin ecosystem, not even for price support (see above)
- SR shutdown cleaned the image of Bitcoin up in many people's minds, even though others like it will sprout
- Global financial market turmoil coming to a head; Jim Rogers: "this Fall is probably the beginning of the end"
- US government shutdown silliness, people are worried and the US is showing serious signs of imminent meltdown
- China-EU agreement to cut out USD in trade, a huge blow to USD reserve currency status - one of many
- Ultra-loose Janet Yellen appointed as next Fed chief, QE to infinity!
- 6 months since last bubble, dust settled, now finally clear to people that it was a legit price correction (upwards)
- Talk of more Cyprus-style "haircuts" on depositors, taking the Keynesian "hoarding=bad!" to its logical endpoint
*Remember March 11? Slow orphan blocks, hard fork, double-spend --> FLASH CRASH --> price ultimately unaffected, proving in people's minds that the growth from January through March 11 wasn't just silly speculation and vapors but real support, so then people threw caution to the wind and piled in without reservation
China has really followed through, with investor excitement and repeated national news agency support. The only question was whether wealthy investors would actually buy the BIT, or if it was just a gimmick. Turns out they did, to the tune of $15 million in six weeks so far, and likely to grow massively from there. There haven't even been any haircuts yet.
We rockin' now baby!
November 07, 2013, 06:02:47 AM
What time is it in the USA?
Time to wake up
November 07, 2013, 06:02:30 AM
What time is it in the USA?
4 to 6 AM
But USA does not drive shit lately. China does.
I'm thinking more in terms of panic selling when they wake up and see the price.
November 07, 2013, 06:01:42 AM
November 07, 2013, 06:00:43 AM
What time is it in the USA?
4 to 6 AM
But USA does not drive shit lately. China does.
November 07, 2013, 05:59:46 AM
What time is it in the USA?
November 07, 2013, 05:59:07 AM
With all probability 266 has become a floor.
WTF ?
November 07, 2013, 05:58:30 AM
Flashcrash alert.
The rest of the week may be choppy since we are already so much higher than last week. The weekly gains tend to normalize, and I would not be surprised to see Sunday at around 280-300 like we are now.
Retest of previous ATH from the above in the form of flashcrash is probably coming. I don't believe sub-250 territory will be visited edit: except during the flashcrash.
Risk of a change in main trend is low.
Looking forward, it is better to buy now than wait. I would be wary if price goes 600+ in November or 700+ in December, since they may be overextended.
The rest of the week may be choppy since we are already so much higher than last week. The weekly gains tend to normalize, and I would not be surprised to see Sunday at around 280-300 like we are now.
Retest of previous ATH from the above in the form of flashcrash is probably coming. I don't believe sub-250 territory will be visited edit: except during the flashcrash.
Risk of a change in main trend is low.
Looking forward, it is better to buy now than wait. I would be wary if price goes 600+ in November or 700+ in December, since they may be overextended.
I find myself agreeing with Pietilä, which feels awkward indeed
In my opinion this rally is fueled by:
1) Huge media exposure that led to speculative mania in China (the Feb-April rally was driven by the West; this rally is driven by the Chinese)
2) Big scarcity of coins, created by a) hard decrease in mining profitability (miners are holding like mofo's); b) artificial demand on Gox due to liquidity problems.
These two things combined are taking us to the moon - and I wonder what happens when the western media wakes up to the sound of the new ATH we recently passed
Possible negative factors leading to stagnation/crash:
- Gox going broke. Big investors still have their money there, if Gox goes busto it will be a big hit to the confidence of some whales. Nevertheless, that would slow things down, there will be a little bit of drama, but if safe alternatives come up it will just be a bump on the road.
Possible positive factors leading us to 5 figures and beyond, quickly:
- the SEC approves the Bitcoin ETF
November 07, 2013, 05:57:43 AM
There's only two days with as much price range as we have now that I can find on the charts.
April 9th and today. $50+ upwards price movement within a 24 hour window.
up, uP, UP
April 9th and today. $50+ upwards price movement within a 24 hour window.
up, uP, UP
November 07, 2013, 05:48:32 AM
Cooling off a bit, as it had to.
November 07, 2013, 05:47:54 AM
Nice little opportunity for buying on stamp and selling on gox,$40 difference....
Well, Stamp deals in USD, Gox deals in GoxBux which you may or may not be able to convert into USD within 2 months.
Gox deals in GoxFaith if it concerns withdrawal in fiat.
November 07, 2013, 05:45:37 AM
Nice little opportunity for buying on stamp and selling on gox,$40 difference....
Well, Stamp deals in USD, Gox deals in GoxBux which you may or may not be able to convert into USD within 2 months.
November 07, 2013, 05:44:07 AM
Nice little opportunity for buying on stamp and selling on gox,$40 difference....
November 07, 2013, 05:43:58 AM
Stamp has been lagging quite a bit in price and interface. Maybe their system is just too slow to accomodate all their users and the speed at which goxprice changes directions?
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