Bitcoin Forum

It's looking like we may be having a break out, if we don't see much resistance at 1000 yous think we could see a new top? Would be a nice start to 2014 IMHO .

I just wonder who or what is behind the steady upward pressure these past few days? Is this an extended pump and dump scheme? Most people at this of the year don't have fiat to spend on bitcoins; many old-timers have bitcoins but are looking to buy in at a low price point. At current price, bitcoin is expensive and getting more expensive.

On early morning of Jnauary 1st, 2014, someone sold off a big bunch of coins, thus driving down the price--I don't remember the exact numers. Since then we've been going up mostly.

The trading volume is low enough that it's entirely possible someone is playing a gmae of pump and dump, an extended version maybe.

This is all China as usual, they are still leading this market. http://bitcoinity.org/markets/huobi/CNY
I'm not touching it until next month, if I lose some money so be it.

I suspect people waiting for the dip are getting impatient or becoming fearful there may not be one. Emotion drives the marketplace, fear and greed are strong ones!

ITT: newb-traders :P

You guys need to compare volumes of the exchanges.  This is not fearful watchers or newbies like you want to think.

Why do you think the major exchanges had to post messages apologising to their clients over December? Why do you think there have been so many complaints about missing transfers, delays, etc.?

People are piling into the exchanges. I wouldn't be at all surprised if it is a tenfold increase in accounts.

And then there are the increased deposits from those already in.

But do you think that they click their fingers and have ten times more staff?

By far the most likely scenario is that after the holidays the exchanges are still processing the backlogs + more newcomers.

Just watch the weeks to come.

I am a generally a bear at this moment in time simply because everytime I am taking tentative steps into the market, I am getting spooked out Bitcoin dreams. I have blabbered on about this at length in another thread, but basically, I clearly have a deep rooted subconscious fear of this market at this point in time.

Having said all that, as the charts have started to look both more positive and stable, I have been trading the last couple of significant peaks and troughs and have turned a several hundred quid profit doing so....sold at $807 (Bitstamp), as it looks like the move is running out of steam for now.

All seems well, but with Bitcoin, be ready to expect anything. I will certainly not be going to bed tonight (weekend) with a big pile of coin in my wallet, but will be on look out for buying opportunities for trading purposes, certainly not for holding.

You guys crack me up.

Why are you continuing to analyze the minutia?

Bitcoin adoption is growing worldwide.  This is the process.  The little playground of buying and selling markets has nothing to do with what Bitcoin is.

As you guys sit here and toil over the latest rises and falls, you could just sit back and repeat one sentence to yourself instead:  "Bitcoin adoption is increasing".

This is what is going to continue to push the value higher over long periods of time.

We all know this already.  Whats the point of killing yourself over daily and weekly changes?  You guys are the reason there is volatility.  Not bitcoin.

You're impatient.

You're dying for that $20 gain. 

You risk it all and 80% of you end up losing money in the end because you don't just buy and hold.

I guess it takes all personality types. 

Yeah. Lousy 50% during 2013. Price is way ahead of adoption.
Hopefully we see at least 100-200% increase in bitcoin adoption in 2014.

More like 1000s of percent mate!

I guess buyer were waiting for a better opportunity to buy around Christmas but it didn't happen.
US was supposed to sell a shitloads of coins for tax purposes, I guess this also didn't happen.

I'll have you know I am not a trader sir! ;)