Bitcoin Forum

When looking at the buy vs sell graph it looks pretty clear we met a very unique pathway back at the 100s (gox) and the buying pressure stacks up and keeps stacking up while the selling pressure keeps going lower and lower. It seems to resemble the pattern right before the jumps from 94-104 and all the way to over 200 back in April.
Here's where you can see the charts of ask vs bid very nicely:
http://blockchained.com/
scroll down.

Furthermore, people talk about the bottom, here's something I wanted to share with you, if you look at the sum of coins currently offered for sale/ask on gox, it is about 81,500. Look at the buy orders you will find that the sum of 81,500 coins for buying is at $67, which is the last lowest point.

So it seems to me, and I'm just sharing my thoughts with you... that we are going to see a very aggressive movement upwards.

Thanks for the heads up

Until Gox is completely liquid (in a timely manner) again, Gox stats are pretty irrelevant.

Until we can be sure that the BTC price surge on Gox is not caused by people who just want to withdraw and see buying BTC as the only option.

I agree with the OP's analysis of the current movement. Hang on to your coins. It's going to get interesting.

The other exchanges are going up so it's definitely not people buying at gox and dumping at other exchanges (yet, at least).

180  ;)

lol, gotta admire your loyalty to that figure. I really hope that's the top to the cent. Infinite bragging rights for you, sir.

Well to be fair, I never said they were dumping the coins elsewhere, I just mentioned withdrawing from Gox. (Maybe out of some kind of panic, who knows).

I've seen aggressive buying on bitstamp in the 90's. Will not be arbitrageurs I guess. Some do want coins. I'm afraid the big money is moving in.

I'm thinking if we cross 138-140 we are back to the races.  I also think that could be the top for a long period.  It would be amazing though if we just started charging back up again.  Would make life interesting once more.

Well predicted!

MtGox trade lag 9 minutes (and rising) right now, I can't even load the main page, this looks like another DDoS attack.

Looks like the moon is coming to the bitcion price :D

So when exactly can we celebrate that the after-bubble depression is over?

Cool video :D, offtopic but I hereby speculate that Namecoin is going to skyrocket soon because its GUI is getting developers' attention and it serves a great purpose for holding shares. I'm not going to implement my own shares and dividends system for my top secret bitcoin project but instead I'm going to use namecoin protocol to serve that purpose. Let's say PROJECT_X_SHARE_001 belongs to person Y, then that person can change the bitcoin address variable related to that name and whoever pays out dividends can simply check the NMC block chain to gain the shareholders' bitcoin addresses and pay dividends accordingly. And people can trade the shares without the need for third party if they wanted. Ingenious.

Don't care about Gox. All the fun is at BitStamp. 100 has been breached! Time to start selling a little.

I agree that the price is rising on MtGox because folks are buying up BTC to secure their funds. I think that the other exchanges are being pulled upwards because there is sufficient confidence that MtGox will eventually resume fiat withdrawals, and folks don't want to miss a good arbitrage opportunity. The delta in exchange prices has been about $5-10 consistently, and the spread will increase or decrease depending on the level of faith in MtGox among the active traders.