any predictions?
Will reach $4900 by end of July 2014:https://bitcointalksearch.org/topic/the-observer-effect-take-2-over-1000-by-21-july-8-aug-634245
Topic: What happened yesterday? (6/1/14) (Read 1816 times)
https://bitcointalksearch.org/topic/the-observer-effect-take-2-over-1000-by-21-july-8-aug-634245
Looked like we were mounting a good rally, and the price corrected back down, most likely for 2 reasons:
1) people taking some profits off the table
2) people who were in the red were finally able to break even, so they sold
There were other factors that caused the volatility, but the above are two of of the primary
1) people taking some profits off the table
2) people who were in the red were finally able to break even, so they sold
There were other factors that caused the volatility, but the above are two of of the primary
any predictions?
will hit ATH by end of August 2014.
Can't wait to see those yellow triangles on bitcoinity again
any predictions?
will hit ATH by end of August 2014.
any predictions?
Easy Bittbuger you're going to hurt yourself patting yourself on the back. I think it had more to do with the price doubling the $340 low so it was a good time for people to take some profit.
Very good point! Makes sense
With what happened at MtGox (fake trades pumping up the price, non existent money used to buy bitcoins), who is currently checking the largest bitcoin exchanges to make sure the same games are not being played again?
Ultimately it hardly matters. As long as at least so me percentage of people is actually paying real money for bitcoin at that price, it means there is demand and support at that price level. The ones that really will be hurt are the people who sell bitcoin at affected markets and recieve no money, because the owner of the exchange 'bought' bitcoin with fake money.
Sure the price will tank for a while when that happens. But it will not really have a permanent effect other than that a large amount of coins is stolen.
That's why you should not tryst shady exchanges.
And definitely hold your bitcoins in your own local offline or cold wallet. Don't leave them in an exchange.
Easy Bittbuger you're going to hurt yourself patting yourself on the back. I think it had more to do with the price doubling the $340 low so it was a good time for people to take some profit.
I hadn't thought of it that way. Good call.
This is just a natural consolidation after the amazing gain of the last days, the price had to drop a bit, the rally was too rapid.
+1
With what happened at MtGox (fake trades pumping up the price, non existent money used to buy bitcoins), who is currently checking the largest bitcoin exchanges to make sure the same games are not being played again?
Yep.
Bitfinex, who also route trades through Bitstamp so affect volume there and BTC-e are both hooky and most likely get up to all the old tricks, painting the tape, front running, fake volume, etc. With no oversight and the opportunity for immense gains, it isn't hard to imagine a person with anything other than impeccable moral standards being tempted to go down this route.
Look at the spikes all over the shop on those exchanges, some huge price spikes on very low volume. Very suspicious exchanges as far as I am concerned.
Having said that, Bitcoin is manipulated or at least market engineered by powerful hands just like gold, silver, oil, wheat, etc. But a Bitcoin is worth the amount in fiat that it can be reliably exchanged for at any given time.
As this economy expands I am less likely to attribute price swings to manipulation. It would be very difficult, expensive and risky to do. Not that it's impossible, but human nature is such that people like to believe someone is behind dramatic events.
People used to think that the weather, good and bad events, even the movements of stars were governed by conscious beings. When we finally tested these assumptions methodically they were shown to be fallacious. We would need to do that sort of analysis at the exchanges as well. It would be quite difficult however, There is a lot that is hidden in bitcoin.
People used to think that the weather, good and bad events, even the movements of stars were governed by conscious beings. When we finally tested these assumptions methodically they were shown to be fallacious. We would need to do that sort of analysis at the exchanges as well. It would be quite difficult however, There is a lot that is hidden in bitcoin.
This is just a natural consolidation after the amazing gain of the last days, the price had to drop a bit, the rally was too rapid.
With what happened at MtGox (fake trades pumping up the price, non existent money used to buy bitcoins), who is currently checking the largest bitcoin exchanges to make sure the same games are not being played again?
Ultimately it hardly matters. As long as at least so me percentage of people is actually paying real money for bitcoin at that price, it means there is demand and support at that price level. The ones that really will be hurt are the people who sell bitcoin at affected markets and recieve no money, because the owner of the exchange 'bought' bitcoin with fake money.
Sure the price will tank for a while when that happens. But it will not really have a permanent effect other than that a large amount of coins is stolen.
That's why you should not tryst shady exchanges.
With what happened at MtGox (fake trades pumping up the price, non existent money used to buy bitcoins), who is currently checking the largest bitcoin exchanges to make sure the same games are not being played again?
Bitcoin is worth at least 4 digits by now. The market just needs a few weeks to realize it.
"This market is manipulated."
"Day traders beware whales behind the scenes."
-People who post every single day and never walk away.
"Day traders beware whales behind the scenes."
-People who post every single day and never walk away.
they try to figure out how to swim ahead of a whale
some of them forget to look back to check if there's actually a whale following them.. 
"This market is manipulated."
"Day traders beware whales behind the scenes."
-People who post every single day and never walk away.
"Day traders beware whales behind the scenes."
-People who post every single day and never walk away.
Good call. This whole explosive run up since 20 May looks totally engineered and it can be engineered in the opposite direction if those behind it can benefit.
I believe this also, but also think that they are going to pump it much further. $240 rise in less than a week FFS! Fresh capital will take one look at that and think "No way!" But a nice little correction conforming to any of everyone's fav Fib ratios and fresh capital will be licking its lips, especially when the 'Market Engineers' decide the market has found support and is on the rise again.
No, bitcoin market is actually manipulated by people with enormous amounts of fiat who create artificial dumps to complete subsequent pumps and get more bitcoins.
The reason that it looks like a pump-n-dump to you is because you either have the monitor upside down or are glued with your feet to the ceiling.
The reason that it looks like a pump-n-dump to you is because you either have the monitor upside down or are glued with your feet to the ceiling.
Maybe he is from Australia. All Australians are glued with their feet to the Earth. Otherwise they would fall off of Earth. The only downside is that they do their TA the wrong way around
266$ soonish.
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