Bitcoin Forum

Nothing fancy.Its halving ,we get it.Came across this article which mentions couple of other good (weird) happenings in the bitcoin world :

The original article : https://e27.co/bitcoin-price-rally-really-going-20160602/

Important quotes for lazy readers :

such kind of news are wonder in the market for last so months. i think this time the potential is a little different. i think because the rate is now so high and the people are especting that the rate will come to a little downword.

Curious about how the Australian police got on apprehending all those Bitcoins... What crimes were they seized for? And the auction... curious about who are the bidders.

I wish I could buy all the BTC that will be auctioned by Australia, or at least a part of them even if the price will go up to 1500$ on 20 June

The price will be around 2500$ at the end of the month, will go a little down and then will only have oscillations between 2100$ and 2400$

Stay for another two or three rounds of hold and you will never regret it!

The news about china is quite old, actually. It was known well before the price rally started (even that article is from two weeks ago.). It's still a good news though.


They got it from a Silk Road drug dealer named Richard Pollard.

australian police take advantage of this price rally lol,i don't really sure but they'll not actually make an offline auction right,i mean their auction will give affect to the bitcoin prices right now and could probably make the price falling down again

Can bitcoins  worth 13 million USD have influence over the worldwide btc market worth 10 Billion dollars?

13m USD is around 0.013% of all btc worth.Will this affect the market?

I think yes, it can influence the bitcoin price if the winner of that auction sells immediately those 24,518BTC. We should not count those as a part of total market cap because not all bitcoins are usable today, many of them are lost and a great number of them haven't been moved for many years.

first of all the winner of such auction who buys 24,518BTC which is worth ~18.4 million dollars knows better not to dump all at once. and even if he sells them all at once he is not going to do it on regular exchanges on regular buy orderbook that you are seeing. so there is no effect publicly which can change anything about the price!

besides this IS NOT THE FIRST TIME police is auctioning bitcoin that they have confiscated! and each time I hear the same thing here people saying price will go down because of it and nothing actually happens.

With that news, more and more people would want to catch the train and hop aboard, especially the Chinese. Strength in numbers is not just a slogan for the Golden State Warriors but also for these Chinese investors looking for ways to hedge their money. Good news doesn't come too often, and this might trigger another surge maybe towards $800?

Mainstream media is already starting to report on the Bitcoin rally:


http://www.bloomberg.com/news/videos/2016-06-16/what-s-driving-the-bitcoin-rally

I still haven't seen the video, I will watch later but I don't expect much from mainstream media anyway. In any case, it's always cool to see Bitcoin on the big TV stations.

damn, this is big!
20th june i'll be shorting bitcoin at okcoin  8)
buyers will probably sell these beauties, and with such volume we might see a big red candle.