Bitcoin Forum

Does any of this bullish news actually effect the price? It doesn't seem to more than 10%. The bear news seems to plummet the price. Humans are negative.

The overstock news is old at this point, they just happened to start accepting it earlier than expected and that caused some excitement on a otherwise brutal news day. The market is in the middle of sorting itself out after a massive multi month long super rally so it could take a while for the engines to be full charged once more.

The market right now is in a state where it weak, low-volume, manipulated, and spring loaded for capitulation. It takes good news and good news just to keep the price afloat at this unnatural level but every time there is a negative news, the manipulation breaks.

The price has risen 570% (or so) in the last two months. So, I don't understand the question.

The UNHODL effect :D

Just remember who are bears and bulls and judge their opinion based upon bias. The funny thing is that in both cases greed applies, either for more bitcoin or dollar. Yes, news do effect price. Often it takes longer than one would expect in either direction. Many times I have read about good news or bad and I am often surprised at how slow the market is to react.

TERA I think you will find that the bouyancy is stronger than you think now.

Sometimes it's daunting watching the price hanging there isn't it? But so it goes on, for weeks now. I would recommend trying to get used to Bitcoin's new chilled out attitude!

America wakes up, sees high priced coins, sells off.
China wakes up, sees low priced coins, buys up.

The cycle continues.

The positive news right now is like trying to move a train (choo choo). In these images I'll point out how the trend prior to the news was broken and how it resembled the trend in may prior to final capitulation.

https://i.imgur.com/3jU9uIB.png

https://i.imgur.com/ONutMaQ.png

I keep looking at the BTC volume, and then at the fiat volume, and it's hard to decide which one is the more significant indicator. BTC volume is down. But fiat volume is up (never been higher).

Yep! No-one feels very safe or sure and on we float!

Events like a positive senate hearing are beneficial to the Bitcoin concept as a whole and add confidence and belief.

Heavy retailer involvement directly affects market action. Overall it's amazing news and adds to the ultimate momentum but it might unsettle the day trading masses in the short term and they're often leading the price.

Plus, think about it.  Everyone test shopping on Overstock.com means that all those coins which were probably held for a long time are now being spent.  They are being immediately sold into the marketplace on Coinbase.  So the news is pulling the price up while the selloff is tanking the price at the same time.  Net effect, not too much.

The question is about news effect on price. Why did it rise 570%? It wasn't any news story that Im aware of.

Most of the price rise from $110 is due to China. There have been many news items as well but we don't know their effect in relation to China. We do not know what the true increase is if you take China out. Also, Overstock news already caused a price increase in the past, and we are simply finding out now that they have gone live ahead of schedule. So Overstock is already at least halfway priced in already before today's rise.

Well then let's watch NewEgg!   ;)

Also rumours about Netflix accepting BTC soon:

http://www.reddit.com/r/Bitcoin/comments/1ue9kh/max_keiser_netflix_considering_bitcoin/