Bitcoin Forum

I have been glancing of the minute by minute trades on Mt Cox over the last couple days. I know we have been trading sideways, but it almost has that "feel" that something is being set up. Looking at some of the larger (500+) coin trades, sells and buys, the price really isnt getting affected as much as it has in the past and on top of that there is hardly any volume, which you would think would exacerbate the price even more? The price is staying in a super tight range. It reminds me when I used to trade stocks and there would be a huge sell off and the price of the stock would open lower and stay at the same low give or take a dollar all day. Huge blocks would sell and the price stayed relatively flat. You know It was the market maker sitting there buying buying and goosing the market and letting it go a little bit at a time so he slowly unloaded probably the majority of what he bought as the buyer of last resort. I have no idea if this is consolidating for a move up or down. What do you guys think?

this is bitcoin.. there's always something being set up :)   

 
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this is bitcoin.. there's always something being set up :)   
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could you elaborate?

did someone mention bombs? 8)

"Sideways" is a movement that can be recognized only in retrospect. What we see here is that the reflexive (https://en.wikipedia.org/wiki/Reflexivity_%28social_theory%29) market believes about itself that it has settled for a price around 115 and it cancels the sideways motion, acting as a faux market maker.

IMHO this price is not sustainable without a bubble, china hype, ATMs... as the market will soon realize.

Well, there are more and more people interested in combating volatility... more market-making bots being run... Perhaps they are succeeding at the moment.

I suggest to take off every zig.

Just remember it isn't a bad thing to take some profits.

Taking a loss is different though.

think people are just waiting on some more news good or bad before making moves.

Isn't a bad thing to cut your losses either (if any of you bought +$120).  ;)

Whatever it is, we can only hope it's for Great Justice

Edit:  lulz @ "Mt Cox"

I can't help myself. I look at bitcoins like i look at stocks and I shouldn't. Two completely different animals. My gut says we go higher. And the only reason I think this is because, whether it be the big money or exchanges, its in their best interest to keep everything as positive as possible to keep new money coming in and existing money invested in coins to stay that way. Just my 2c.

there's a big conference in a week - if things look positive this should push the prices up, way up.
i thought bubbleboy was done with bitcoins and unto better things to do with his time

How would that influence the price in any way?
Those going to the conference are already Bitcoin zealots.

Are they going to buy by the buckets just because there was some good news?

Yeah I wouldn't expect any sharp rises due only to the conference.  From what I remember previous successful conferences had little effect on the price in the short term.  In my opinion the most value the conferences have are the networking opportunity they present to the people that build the infrastructure around bitcoins.  People meet and come up with ideas, then it takes time for those ideas to be collaborated on and hopefully eventually made a reality, but all that can take awhile.

make your time

Take off every zig!

Well u got used to a bubble, an influx of new people moving money to gox

Now the hype is over there is nobody to buy. Only sellers who bought in high anxiously watching the price hoping it will go up.

What has happened is we moved from a bull to a bear market. As people realize volumes are not going anywhere for the timebeing, the price will continue trending downwards.

nothing wrong with a consolidation period before the next leg up...

There will be increased media coverage.

So? This will be but a drop in the ocean of last month's coverage.

So more people will know about Bitcoin which means more potential investors and adopters.
I don't think it is a drop in the ocean, it is an annual event afterall.

When the US stock market bubble bursts in a few months there will be a significant uptick in BTC.

this poll carried out by a major poll institute reveals that one out of six germans "know" bitcoins. one out of five would use it in the future for payments. the article is headlined with "only one out of six germans..."   i would consider this not deserving an "only" but instead an "already". no marketing effort, no big company paid for this campaign. every payment provider wishes their system would be so wellknown without any marketing budget.

http://www.heise.de/ix/meldung/Nur-jeder-sechste-Deutsche-kennt-Bitcoins-1854908.html

There might just be the opposite of your predictions holding true if this were to happen with the US Stock market.

Time will tell.

I have exactly the same feeling :P

This stability just isn't like Bitcoin.

The market is still in a bit of a bubble mode. Many people still holding coins waiting for price to increase. When they realize it will not increase, they will sell and price will go down.

This is what economists call a butthurt market.
Bulls and bears are confused about their own nature.

How can 20% of Germans say they're willing to use bitcoin for future payments if only 17% know about them?

what i meant is that i am very sure there will be MANY announcements occurring and i'm hoping that at least some of them don't suck.

One in five OUT OF THE ONE IN SIX WHO HAVE HEARD OF BITCOIN would use them.

3% of the population of Germany, or 81m people.  2.4 million willing users already.  That's decent progress!

there are two possibilities:

it is either every 5th out of the "every 6th" group who knew bitcoin, or

the poll might have asked
1)"have you ever heard about the crypto-currency named bitcoin?"
2) "could you imagine using this internet currency in the future?

it is possible that people could imagine to use such a technology but didn´t know it exists already.

 

It is funny that for months people have said, what Bitcoin needs is stability, and now it has it, people wonder what's wrong! ;)

The only way to make money in the long term with bitcoin is buying and selling the coin vs fiat.  Trying to speculate on its value rising and falling is not a good long term aim!

We need people to buy and sell stuff, using bitcoins, and now is the ideal opportunity to do so! :)

Who wants to start the Bitcoin Amazon or the Altcoin eBay?  If you don't, someone else will! :)

This is pretty much why those saying BitCoin Transactions are NOT mainly related to silkroad right now are in denial.

The fall will happen today. India (second largest economy) market fell like 500 points.. biggest in 5 years. Nasdaq and Dow will go down today....

people will want to recover cash by selling something to buy other stocks...(at their lowest price)

highest at peak is BTC...

so be ready in 2 hours for big sells

Gutsy call, fourkey2001, we'll see how it works out.

Check his post history. He says that 5-6 times a day for the last 2 weeks. He sold and now wants back in at a lower price point. Just click ignore he's nothing more then a spammer.

This stability is really boring. Can someone spare $1 Mil to buy/sell on MtGox so we can have something to talk about?

lol.

+1 :D

Coins are Holding up pretty well. Or is it a bear trap? I am thinking all the real bad news is baked in to the price already, give or take $10 swings. Where do we go from here?