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Title: Post here when you have no idea which way the market is going to go Post by: GeniuSxBoY on August 21, 2011, 01:43:36 AM Post.
Title: Re: Post here when you have no idea which way the market is going to go Post by: RyNinDaCleM on August 21, 2011, 02:41:13 AM I don't know what the hell is going on! :D
There are so many bids, but the ask walls keep tumbling down! I liked when the bot was running things yesterday! Title: Re: Post here when you have no idea which way the market is going to go Post by: GeniuSxBoY on August 21, 2011, 02:46:45 AM bot wasn't running things yesterday, what you saw yesterday was the little people :)
Title: Re: Post here when you have no idea which way the market is going to go Post by: tacotime on August 21, 2011, 02:49:16 AM Bot is still running things... It's been 11.50$ for 36 hours if you haven't noticed. If it deviates from that it will be pushed back to it within 60 seconds, by senselessly small bids/ask for actual users to make. The sell wall is increasing in size because Bitcoins appear to be mined but aren't being bought up as quickly, but it's not increasing very quickly. At the current rate it will be 3-4 days before sell wall volume is the size of the buying side volume on Mtgox.
Why the manipulation? It looks right now like the price is being kept low more than anything else, but it's hard to say what the actual intention is. Title: Re: Post here when you have no idea which way the market is going to go Post by: GeniuSxBoY on August 21, 2011, 02:58:02 AM The last 36 hours, I understand, but the climb to $11.50 itself was not (completely) bot related
Title: Re: Post here when you have no idea which way the market is going to go Post by: julz on August 21, 2011, 04:16:50 AM Post here when you have no idea which way the market is going to go I don't know which way it will go.. but that's not quite 'no idea'.... it's 3 ideas.. none of which I can choose from. (The sum of all ideas is no idea?.. I guess so) 1) it'll go nowhere for a long time. 2) up due to a bit of conference media coverage and new users 3) down due to disappointment in lack of conference media coverage and new users. There are also the usual 'down' ideas of .. yet another major hack/incident.... government intervention... banks refusing to deal with any bitcoin related entity etc etc.. but I don't particularly see any of those as imminent. If they come - they may just strike out of the blue. Title: Re: Post here when you have no idea which way the market is going to go Post by: fcmatt on August 21, 2011, 06:27:44 AM I just unloaded a nice chunk of BTC at 11.45 on average because I feel that the conference had about as much impact as these
forums have on a daily basis. And that means to me that there will not be any extra media hype like I was expecting. Oh sure there will be some articles on nerdy websites but I am no longer expecting mainstream news to pick up on it due to something really interesting coming out of it. So I decided to sell BTC into this forum mood of a possible price rise due to the conf. I am expecting others to follow suit shortly and the price, in my opinion, will sink to about 10 bucks in about 24-36 hours. Too many miners have been holding and if they wait too long they will miss the current price which is very reasonable to be selling into when you consider many of us thought 8-9 bucks was the new norm. Title: Re: Post here when you have no idea which way the market is going to go Post by: julz on August 22, 2011, 05:37:29 AM So I decided to sell BTC into this forum mood of a possible price rise due to the conf. I am expecting others to follow suit shortly and the price, in my opinion, will sink to about 10 bucks in about 24-36 hours. If I'm reading the mtgox depth correctly - there's over half a million USD in bids from $10 up. That's quite a lot of support to burn through in a day or two surely!? Title: Re: Post here when you have no idea which way the market is going to go Post by: zby on August 22, 2011, 05:58:35 AM I was thinking there will be another dip after the conference disappointment - but now we can see someone wants to stop the fall down with that bid for 10K bitcoins at 11.14. I have no idea now what will happend - is that bid for real - or is it only a bluff? Can it stop the market?
Title: Re: Post here when you have no idea which way the market is going to go Post by: julz on August 22, 2011, 06:16:46 AM I was thinking there will be another dip after the conference disappointment - but now we can see someone wants to stop the fall down with that bid for 10K bitcoins at 11.14. I have no idea now what will happend - is that bid for real - or is it only a bluff? Can it stop the market? I don't see how it can be a bluff.. the price did just dip down to that level and nibbled a few off the 10K - now 9952. Title: Re: Post here when you have no idea which way the market is going to go Post by: sveetsnelda on August 22, 2011, 06:18:21 AM I was thinking there will be another dip after the conference disappointment - but now we can see someone wants to stop the fall down with that bid for 10K bitcoins at 11.14. I have no idea now what will happend - is that bid for real - or is it only a bluff? Can it stop the market? I don't see how it can be a bluff.. the price did just dip down to that level and nibbled a few off the 10K - now 9952. Title: Re: Post here when you have no idea which way the market is going to go Post by: julz on August 22, 2011, 06:24:04 AM I was thinking there will be another dip after the conference disappointment - but now we can see someone wants to stop the fall down with that bid for 10K bitcoins at 11.14. I have no idea now what will happend - is that bid for real - or is it only a bluff? Can it stop the market? I don't see how it can be a bluff.. the price did just dip down to that level and nibbled a few off the 10K - now 9952. Maybe a few have that idea.. you know right now you can sell a 'few' without dropping the price much! Title: Re: Post here when you have no idea which way the market is going to go Post by: sveetsnelda on August 22, 2011, 06:38:53 AM Maybe a few have that idea.. you know right now you can sell a 'few' without dropping the price much! Yeah... I'm sort of banking on the impatient panic sellers after the lack of media attention.Title: Re: Post here when you have no idea which way the market is going to go Post by: Bigpiggy01 on August 22, 2011, 06:46:14 AM It's not just on Mt Gox either,
There are a pair of solid support orders on Britcoin as well admittedly at a slightly lower level (10-15 cents depending on the forex). So the overall direction should still be up or fairly flat and once some of the positive bitcoin stories that the conference will spark start showing up (that does take a few days) things might get quite hectic around here. I dunno about Tradehill as I don't have easy access to easily readable data from there but I suspect the story is much the same ;D There is still a fantastic potential for a Monday-Tuesday rally. Title: Re: Post here when you have no idea which way the market is going to go Post by: zby on August 22, 2011, 07:26:20 AM TradeHill is what was stopping the latest rally - there is not much support above 10 and the prices there were consistently lower in recent days.
Title: Re: Post here when you have no idea which way the market is going to go Post by: oakpacific on August 22, 2011, 03:51:08 PM No market movement for nearly an hour, maybe all traders suddenly found meaning of life and are now cherishing this uncommon tranquility. ;D
Title: Re: Post here when you have no idea which way the market is going to go Post by: Piper67 on August 22, 2011, 03:59:14 PM No market movement for nearly an hour, maybe all traders suddenly found meaning of life and are now cherishing this uncommon tranquility. ;D Nope, if they had found the meaning of life, the price of BTC would be 42 ;D Title: Re: Post here when you have no idea which way the market is going to go Post by: oakpacific on August 22, 2011, 04:05:36 PM No market movement for nearly an hour, maybe all traders suddenly found meaning of life and are now cherishing this uncommon tranquility. ;D Nope, if they had found the meaning of life, the price of BTC would be 42 ;D That is probably the total number of bitcoin traders who are living. ;) Title: Re: Post here when you have no idea which way the market is going to go Post by: 322i0n on August 22, 2011, 04:18:29 PM that walls going to take a hit.
Title: Re: Post here when you have no idea which way the market is going to go Post by: apetersson on August 22, 2011, 09:43:47 PM i came here to admit i have no idea where we are heading right now
the only thing i strongly suspect is Bitcoin will take over a large amount of the Financial World once two of those three things happen:
so basically - i went all-in and maybe i can avoid looking at the price longer than 24h. (Which i did not manage to do since May..) Title: Re: Post here when you have no idea which way the market is going to go Post by: proudhon on August 24, 2011, 12:45:48 PM No idea where it's going. But, for the past 10 minutes or so it looks like 2 bots are battling it out to the death. The ticker's been going non-stop with tiny trades between 10.92 and 10.97.
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