What is going on in the market? - page 6.

doomloop

hero member

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Quote from: Pumperdumper on May 09, 2018, 05:05:36 PM

Some are commenting that the recent price hike was due to the conferences being held in various places and upcoming conferences.

"In addition, Lee pointed out that the 2018 conference (marking the fourth year of the event), scheduled to kick off in New York City on May 14, is expected to pull in a crowd of roughly 7,000 (as compared to last year’s 2750-strong crowd) – previously, when attendance increased, Bitcoin jumped by 69% during the conference, and 138% in the months following the event."

https://cryptovest.com/news/fundstrat-analyst-foresees-impending-rally-for-bitcoin-owing-to-consensus-conference/

In the current market the stability and the equilibrium has established and this is due to the equal number of demand for Bitcoin which is responsible for this stability. The Bitcoin fluctuates and today the price equivalent to 8.7k dollar which is increasing more with the passage of time. Now invest in Bitcoin and choose your new modern way of living without any high transaction fees and wastage of time.

jlong187

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I would say that many things on a market as growth or fall of prices can be caused by news, real news and fake news of course

socksserver3

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Different things are going on, depending on what you mean exactly. If you are talking about the price changes than there are obvious reasons why this happens. I think that if you control the market, you will always be aware of fluctuations and take smart decisions how to act

Wonder_woman

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I am hired and not own by any Team!

The market is very unpredictable now. The volatility of every coin is increasing and its really hard to read and predict whats gonna happen.

francedeni

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Quote from: gorodi on May 15, 2018, 09:11:56 AM

Quote from: butcher_spam on May 09, 2018, 05:37:52 PM

I haven't noticed much of a change for the better. Only see that the rate does not recover to the point where it was worth 19000. I think I don't see anything good yet.

It seems to me, nothing new is happening. As usual, the coins prices are swinging. If today they are green, tomorrow they can turn red. Of course, I wish to see how the cryptocurrency is constantly growing.

Nothing is new because price is always the same down and up. It will up and suddenly change it will drops so the market is swing fast. But the point in here it is always volatile expect the unexpected in this market.

Pumperdumper

newbie

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Quote from: gorodi on May 15, 2018, 09:11:56 AM

Quote from: butcher_spam on May 09, 2018, 05:37:52 PM

I haven't noticed much of a change for the better. Only see that the rate does not recover to the point where it was worth 19000. I think I don't see anything good yet.

It seems to me, nothing new is happening. As usual, the coins prices are swinging. If today they are green, tomorrow they can turn red. Of course, I wish to see how the cryptocurrency is constantly growing.

Here's a different question -

Have we seen the bottom of the market?

gorodi

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Quote from: butcher_spam on May 09, 2018, 05:37:52 PM

I haven't noticed much of a change for the better. Only see that the rate does not recover to the point where it was worth 19000. I think I don't see anything good yet.

It seems to me, nothing new is happening. As usual, the coins prices are swinging. If today they are green, tomorrow they can turn red. Of course, I wish to see how the cryptocurrency is constantly growing.

squatz1

legendary

Activity: 1666

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Flying Hellfish is a Commie

No one knows, the only way is to say that the market is doing it is going to go whatever way it wants. There's this great scene from the wolf of wall street "I don't care if you're warren buffet or jimmy buffet, you don't know which ways the market is going"

Some people may attribute it to the last big news story, showing that the korean exchange upbit was under investigation -- though this does seem like a massive misunderstanding.

Yunbalo

newbie

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Actually the market today I can not predict the trend. Nowadays, they rise abnormally. No one can predict the movement of coins. Now buy and hold the altcoin based solely on luck.

ervinmadureri

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Quote from: Pumperdumper on May 04, 2018, 03:32:10 PM

Hello everyone - I don't usually put up posts, but I was curious on what everyone is seeing for this recent market upswing.

This is the second time in the last 4 months we've gone from 250bn market cap to over 400bn. Very much a yo-yo effect.

We've seen the market press hype cool down - so what is causing the market to go back up? If you could all please post some real world news that would be much appreciated. Doesn't have to be news from a news source - could be numbers from block explorers, investment news, just something that can be tied down to a FIAT value being put into crypto.

For me (a little bit of a conspiracy theorist)

USD Tether gains FIAT value in Q3 to Q4 of 2017 -> Moves FIAT value to Noble Bank -> "Legitimizes" USD Tether

BitConnect crisis occurs -> Loss of investor confidence -> Lack of market liquidity -> Correction

SEC opens with somewhat positive remarks to crypto as a whole -> Focus specifically on ICO scams

Discovery of Mt. Gox trustee -> Rumors spread -> Investor confidence drops further causing further slide

USD Tether media cools off -> USD Tether prints off more tokens beginning of April -> Stabilizes investor confidence

Stable coins begin emerging post USD Tether -> Markets keep resurfacing throughout April

May 7th SEC supposed to rule on Ethereum and XRP on whether they are securities (https://www.ethnews.com/sec-cftc-to-discuss-possible-securities-classification-of-ether-other-cryptocurrencies) -> Market effect Huh

??

ICO fraud rumors (https://medium.com/@douglaslyons/ldj-capital-all-that-glitters-is-not-gold-ccbfc21ffd71) -> Market effect Huh

??

I can provide links for any of those events - I just didn't want to spam links. It would be interesting to see if anyone can find info of "new" FIAT money going into Crypto which would give evidence of a bull market - especially if it is found from institutional sources. The opposite as well - if anyone has insights into how this could be a bull trap, that would be awesome to read.

As I said, goal is to pool together everyone's reading material for better clarity on current market events.

Please post your mother will die.

The market is fluctuating strongly when bitcoin prices are continuously increasing for several consecutive days. I believe that bitcoin prices will be able to rebound strongly in the coming days and will hit the $ 11000 level, so this is a good time to buy the bitcoin. Market capitalization has fallen slightly, but I believe it will recover quickly.

jorgelugra

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Market should be controlled on the regular basis because there are a lot of price fluctuations. If you want to become a trader, you should be aware of all changes that take place on the market in order to succeed.

Pumperdumper

newbie

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Quote from: cheezcarls on May 14, 2018, 12:23:13 PM

It is going to be somewhat interesting for all of us this week due to the ongoing Consensus 2018 event in New York City. In that event, from 2,700 to almost 8,000 attendees (except that Ethereum founder wants to boycott this due to high ticket prices), which would expect that Bitcoin, Ethereum and the others are going higher after that. It happened for the past 3 years, and this one is going to get bigger.

Makes sense with the conferences.

But - if I was a very wealthy crypto made b/millionaire, wouldn't this be the best opportunity to short?

Conference attendants convert crypto -> fiat = less buy demand (also Consensus OMG airdrop = people looking to sell for profit)

Less buy demand = higher sell orders * big players short the prices = amplifies sell orders.

This is only under the assumption that people are turning these coins into fiat - am I missing a part where the conference planners do not have to convert to fiat?

I personally just get a weird feeling when majority of people say that "X" will happen because it's happened before.

cheezcarls

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Looking for gigs

It is going to be somewhat interesting for all of us this week due to the ongoing Consensus 2018 event in New York City. In that event, from 2,700 to almost 8,000 attendees (except that Ethereum founder wants to boycott this due to high ticket prices), which would expect that Bitcoin, Ethereum and the others are going higher after that. It happened for the past 3 years, and this one is going to get bigger.

palle11

sr. member

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Quote from: ?? on ??

....... led many supposed experts to try to justify every bitcoin movement with arguments often ridiculous, as I remember that many even justified the fall of bitcoin earlier this year for the celebrations of the Chinese New Year!

Off course demand amounts to effect of pricing. If the demand is low, it will lead to lower price. For me, some of these festivals affect the price because people would have withdrawn their coins and transferred to fiat.

liuqi

sr. member

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LuckyB.it is Back!

Consensus conference is conducting in 14 to 16 after the meeting Bitcoin is going moon. So we dont worried about the future of cryptocurrency I read the coindesk strategy past three years meeting in successfully finished then it move more than 10 to 60 percentage of hype is possible. So everyone eagerly waiting to future raise because all the coins are going to moon.

Pumperdumper

newbie

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Little known article about Zimbabwe ban on crypto exchange relations with banks.

https://themerkle.com/zimbabwe-bans-commercial-banks-from-processing-crypto-transactions/

The reason I find this interesting is because Zimbabwe registered some of the highest priced BTC trades last year if I remember correctly.

https://www.newsday.co.zw/2017/12/bitcoin-price-breaches-30-000/

Now the reason why it is 30k is because it's low liquidity and there are active P2P sales occurring in Zimbabwe - however, if you look at the dates, that exchange posted grew 3x in about 30 days.

"In terms of volumes, over the 30-day period, Golix reported that 118,6867 bitcoins had been transacted on the exchanges, translating to $3,707,203,995 having been transacted, an improvement from $1 million at the start of last month.

In a 24-hour period, Golix reported that the volumes transacted was 1,7006 in bitcoin for $53,109,738."

This article by Quartz goes on to argue that Golix exchange has low liquidity but is from a month earlier - prior to the big kahoona.

https://qz.com/1130147/bitcoins-price-in-zimbabwe-is-not-actually-13000/

Other articles talking about the price disparity (Oct - Dec 2017)

https://www.ccn.com/bitcoin-price-climbs-12400-zimbabwe/

https://qz.com/1109470/bitcoin-highest-price-is-in-zimbabwe-due-to-a-forex-shortage/

https://www.cnn.com/2017/10/31/africa/zimbabwe-bitcoin-surge/index.html

Why is this important?

Personally I believe these price outliers are important for the industry and for growth. When people see the arbitrage opportunity they are willing to take a risk and move money even if it means there is danger of low liquidity.

People lose money - a few gain it, but it's moved into new areas. This ban on banks interacting with exchanges might have positive impacts on BTC price. We also need to bring back the kimchi premium.

EDIT: something else to keep an eye on

https://bitcoinist.com/okex-exchange-ceos-sudden-resignation-prompts-crypto-industry-suspicion/

Pumperdumper

newbie

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More news coming out talking about crypto conferences giving prices a boost.

http://markets.businessinsider.com/currencies/news/bitcoin-price-consensus-2018-kicks-off-1024443651

Seems the market rallied pretty strong despite the downfall of Friday / Saturday. People saying that it's going to be a strong year for the major players - my question is, where is this optimism coming from?

berrygood

full member

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It may be due to the sec, more broadly regulations and that will last for this year and maybe the next year because unless the market is regulated well, it can't go to hands of all people.

Pumperdumper

newbie

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Morning or afternoon guys!

Market is slightly picking up.

Eth went from 680 to 689 in 5 minutes.

Should be interesting to keep an eye on. Might be a green week next week.

Also - did not know this, but Goldman Sachs is getting more involved in crypto - check out the graph they show. This would explain why people who wanted to sell did so this week.

https://qz.com/1274437/bitcoin-prices-arent-reacting-to-wall-streets-plans-to-enter-the-market/

Also - another thing to note is that the market cap has gone from 413bn yesterday to 389bn today with a difference of about 14 hours in between the price changes. Seeing an increase of activity on Binance on both sell and buy sides and this can be seen by volume going up from 22ml to 31ml today. Lot's of selling occurred and now we're seeing a bit more buying.

EDIT:

OH SHIT EVERYONE!!!!

Check out any of the USDT marketplace graphs on Binance (or anywhere else for that matter)

And switch to the 1 day ticker. Hopefully this image upload works - if you look at the end of the 1 day tickers, you see the negatives are starting to expand - anyone else thinking this is a bull trap???

https://preview.ibb.co/fEm1Jy/SNAG_0008.jpg

Pumperdumper

newbie

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Hey guys! Thank you for all the great input!

Had to work today for my moneys so didn't have much time to post :p

Market is still heading south.

Very difficult to tell where it is going. $10 Billion drop in market cap in about an hour and a half. Volume is $22 million so it has dropped quite a bit.

Are we seeing a lack of liquidity come into play?

Did you guys see anything in the news? I know there were a couple conferences wrapping up this week in New York City - also one thing to note is that the Mt. Gox trustee moved some coins from cold storage so could we be seeing others selling off inventory expecting sells this weekend?

The ticker got longer by another centimeter from the time I started typing this post Tongue

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