There's the adoption rate, and then there's the hoarding percentage.
The higher the percentage of hoarders, who are not weak hands, the more upward pressure there is, as we can see now. So even if the market looks bearish to the weak hands, it won't go down nearly as easily with the strong hand hoarders/investors, who look at the more long-term, or are not easily shaken.
Bitcoin can either go up from adoption, traders, or investors.
If there's an influx of adoption, there is increased demand
If the traders think the market will go up, there is increased demand
If the investors think the price will go up in the long-term, there is increased demand.
It's the weak hands that push the price down (and largely responsible for volatility). The strong hands hold the market up, and prevent it from going to the floor so easily.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32597. (Read 26470758 times)
July 17, 2013, 12:13:06 PM
July 17, 2013, 12:06:22 PM
Bitcoin Accumulation Sighted: http://news.goldseek.com/GoldSeek/1373983200.php
Bitcoin grows on reducing its use.. yeah, seems legit.
The more people horde, the more bitcoin goes up. This is a speculative market, so hording is a good thing, until adoption speeds up. (In which case we can expect another bubble, which may not be too far off.)
Or people will just buy altcoins and not pay exorbitant prices for the same thing? It isnt a good thing to have hording. Yes, $100 is $100, no matter if bitcoin is 1c or 10,000, but its room for growth is much different. Since all these coins are speculation & drugs, thats half of the battle.
And "weak hands" exiting the market are the people who might actually do economic activity with bitcoin, which is what will really cause growth.
Bitcoin Accumulation Sighted: http://news.goldseek.com/GoldSeek/1373983200.php
Bitcoin grows on reducing its use.. yeah, seems legit.
The more people horde, the more bitcoin goes up. This is a speculative market, so hording is a good thing, until adoption speeds up. (In which case we can expect another bubble.)
Bitcoin in the hands of more people is what will grow its ecosystem.
Truth.
July 17, 2013, 12:02:04 PM
July 17, 2013, 11:56:06 AM
Bitcoin Accumulation Sighted: http://news.goldseek.com/GoldSeek/1373983200.php
Bitcoin grows on reducing its use.. yeah, seems legit.
The more people horde, the more bitcoin goes up. This is a speculative market, so hording is a good thing, until adoption speeds up. (In which case we can expect another bubble, which may not be too far off.)
July 17, 2013, 11:46:44 AM
Bitcoin Accumulation Sighted: http://news.goldseek.com/GoldSeek/1373983200.php
Bitcoin grows on reducing its use.. yeah, seems legit.
July 17, 2013, 11:38:08 AM
Bitcoin Accumulation Sighted: http://news.goldseek.com/GoldSeek/1373983200.php
July 17, 2013, 11:37:24 AM
do people think this Bernanke speech will have any effect on the exchange? also where is it possible to watch online?
http://www.bloomberg.com/live-stream/
thank you
July 17, 2013, 11:18:39 AM
do people think this Bernanke speech will have any effect on the exchange? also where is it possible to watch online?
I don't thing he's going to announce anything outrageous (just "We're still going to keep stealing your savings at the same rate") so no effect.
July 17, 2013, 11:01:59 AM
July 17, 2013, 10:57:32 AM
do people think this Bernanke speech will have any effect on the exchange? also where is it possible to watch online?
http://www.bloomberg.com/live-stream/
July 17, 2013, 10:57:06 AM
do people think this Bernanke speech will have any effect on the exchange? also where is it possible to watch online?
July 17, 2013, 10:52:40 AM
Gox 98 and Bitstamp hit 89 
People cashing out from Gox and selling on Bitstamp? Must be painful...
People cashing out from Gox and selling on Bitstamp? Must be painful...
Well, it looks like that is what is happening.
Plus, the fact that Roger Ver uploads today an utterly stupid youtube video in which he repeats like a muppet that the delays are caused by "the traditional banking system inability to keep up with the demands of the growing Bitcoin economy" (literally) just makes it FUCKING WORSE.
WTF? Who they want to fool? I don't fear MtGox going broke because of fractional reserve and whatnot, but "the demands of the growing Bitcoin economy" its obviously NOT the problem, WTF are they hiding? That their banks won't deal with Bitcoin businesses anymore and they are struggling to find any bank that do want to work with them? That some of their funds are being freezed and investigated by their banks? What the hell is going on with these guys?
For the ones who missed the video: https://www.youtube.com/watch?v=UP1YsMlrfF0&feature=c4-overview&list=UUZyrn1awtEVne0bdryfuI6A
Really can't cope will all these amateurish sh*t.
July 17, 2013, 10:50:43 AM
We have the new downtrend, guys.
3 connections
3 connections
It's not down yet... (might well be so in the near future), but you shouldnt sell your chickens before they hatch.
So I shouldn't sell my bitcoins before the price falling?
July 17, 2013, 10:50:03 AM
We have the new downtrend, guys.
Why ''new''? There is an already well-established (therefore old) mid-term downtrend (in my opinion).
July 17, 2013, 10:45:14 AM
We have the new downtrend, guys.
3 connections
3 connections
It's not down yet... (might well be so in the near future), but you shouldnt sell your chickens before they hatch.
July 17, 2013, 10:41:02 AM
We have the new downtrend, guys.
3 connections
3 connections
July 17, 2013, 10:24:09 AM
Gox 98 and Bitstamp hit 89
People cashing out from Gox and selling on Bitstamp? Must be painful...
People cashing out from Gox and selling on Bitstamp? Must be painful...
July 17, 2013, 08:24:38 AM
July 17, 2013, 07:19:03 AM
Quietly sitting on the 100 day EMA after rebounding on the 200 day EMA.
It feels like the quite before the storm. Not so many negative signs as before the bounce, that bounce was on relatively high volume and there's still people willing to buy. I wonder how much is the withdrawal problem affecting the price - I'd say quite a lot.
...
It feels like the quite before the storm. Not so many negative signs as before the bounce, that bounce was on relatively high volume and there's still people willing to buy. I wonder how much is the withdrawal problem affecting the price - I'd say quite a lot.
...
http://www.bitcoincharts.com/markets/mtgoxUSD.html
Looking at a 60 day chart (in reference to previous charts), it looks very much like we've just passed the peak of this cycle. I suspect momentum will gather for downward price pressure from here.
July 17, 2013, 05:25:57 AM
Quietly sitting on the 100 day EMA after rebounding on the 200 day EMA.
It feels like the quite before the storm. Not so many negative signs as before the bounce, that bounce was on relatively high volume and there's still people willing to buy. I wonder how much is the withdrawal problem affecting the price - I'd say quite a lot.
It feels like the quite before the storm. Not so many negative signs as before the bounce, that bounce was on relatively high volume and there's still people willing to buy. I wonder how much is the withdrawal problem affecting the price - I'd say quite a lot.
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