Bitcoin Forum

What's going on? The price just spiked from $469 to $498. Don't see any amazing news, although I have been expecting to go up.

Yes its very strange because few hours ago as I go to offline its touching 460$ and now suddenly its around 500$ whats going on any update about this

I knew it was going up this morning, I had expected it to go up anyway, but now I'm home and I'm like WTF? Why is the price at 360€?
I check BitcoinWisdom and CoinDesk BPI, and it seems like it did spike. Any moment now, Any moment and we get up to $500.

Come on $500!  Daddy needs a new car!

http://bitcoincharts.com/charts/chart.png?width=940&m=bitstampUSD&SubmitButton=Draw&r=10&i=5-min&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

Exciting Times!

https://www.evernote.com/shard/s91/sh/6683f31d-7806-4b7b-b559-2e572fedf303/4178b8fce53c4a0b139f66041f78ab5a/deep/0/Bitcoin-Price-Index---Coin-Cadence.png (http://www.coincadence.com/bitcoin-index/)

Did someone type in the price incorrectly? I suppose it was that, since it's only BitStamp that's this high. BTC-E is at $481.

Exactly why we track the 7 major exchanges, this is no "typo"...

https://www.evernote.com/shard/s91/sh/68370f6f-6afb-4782-bc76-fb183cfd1d17/58ee603f881580149a7f15c82fe8b00d/deep/0/Bitcoin-Price-Index---Coin-Cadence.png (http://www.coincadence.com/bitcoin-index/)

Hmm... So weird. It seems to be hovering around $495 right now. So weird.

BTC-E is always 10-11$ cheaper. I don't know why.  :-\

It's a real pain up the arse to get dollars into compared to the other exchanges. That might account for a price difference.

I always go with Bitstamp for some reason, even before, when Gox was still around.

Probably has something to with the Coinbase price(essentially pegged, Coinbase higher by a couple a $ or so).

Atlas ATS just broke $500 :)

Edit: You know if the price had not been so flat for the last 10 days this would be a lot less exciting...

Now hope on bitstamp its going to touch 500$ because last time I check its just over 499$ I am very excited about this after long wait this going to happen

Often, yes, but not always.

$491 right now. I hope it does, but now it's dropping. Oh, $489.7 now.

News drives price as much as price drives news, so it's always difficult to say.  However, it seems Russia and China have made some progress towards trade-agreements that completely bypass the USD:

http://www.zerohedge.com/news/2014-05-20/china-signs-non-dollar-settlement-deal-russias-largest-bank

It may be advantageous, for bitcoin, to create the narrative in the media that the price increased because the "USD's hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility" [ZH] as the China-Russia deal illustrates.    

Shiite, it's dropping again.

ARGH, will have to settle for a skateboard, not a car.   :(

Btc-e is not really cheaper.  Try depositing funds.  You have to use 3rd party deposit methods that charge 1% fees.  So btc-e is a little down (imo) because of those additional fees.

Maybe it's news from the past few weeks? Perhaps people finally have their accounts funded and ready. Or an increase in demand from deals made at last weekends conference in Amsterdam?

Mhmmm... There really hasn't been any innovations at Bitcoin 2014. I expect Coindesks article to tell us the reason.

http://jarrodsmark.com/wp-content/uploads/2012/09/hoverboard.jpg

BELIEVE!!!  ;)

Haha, someone gotta design that for real, and I'd ditch the car in a heartbeat.  Paid in BTC of course.   8)

That said BTC can't break through the $500 level, WTF!  Keeps bouncing off.  Oh well, at least we're on the way up finally after these stagnant weeks.

Maybe so. I was unable to attend this one so I am just guessing. We had a price bump after last years event that I assume was related.

Could China have secretly un-banned btc?  :D

Lol. China never banned BTC. Maybe price is going up because people have only just realized how awesome bitcoin is?

So some Whale action doing this then?  ;D

If that's so. Who thinks a rebound towards $450 is likely?

Someone is trying to stir up a bubble. I don't blame him. It'll come some time anyway. That pump is obviously an explicit one to get the attention of people and to let them know that the whale is done accumulating.

The long stable boredom periods are always followed by a breakout to the upside. Bitcoin is just doing what it do.

Historically your right. I'm other side of the fence at the moment - waiting for the price to rebound back down - it probably wont, guess will just let Bitcoin do it's thing

It's still hovering around $490 lol. I'll see if my prediction is correct, $500+ by midnight.

I wouldn't say that the price is rising crazily, but it does appear that the downtrend is reversing. If I had fiat on an exchange right right now, I'd exchange it into BTC asap.

Yeah. No need to always link a news to a spike.

We had very very low volume recently. Traders were waiting for bears to show up. No bears in sight, so some traders grew impatient. I understand them. I m waiting for a full moon this year.

Pretty good prediction I would say  :)

Bitstamp hovering $500. Other exchanges seem to be $15-20 under?

not sure but im happy its happening

I guess it must be this: "More Bad News for Bitcoin"

http://www.theblaze.com/stories/2014/05/20/more-bad-news-for-bitcoin/

 ???

http://www.coindesk.com/africas-first-bitcoin-atm-ready-may-launch/
...followed by good news ;)

Only question that i ask is will it stay around 500$ mark or will it fall down again in next few days back to 430$ mark , If it stays at 500$+ mark for next few weeks than I can say there is some real good times coming ahead :)  

based on what?

Here's a sampling of today's and recent news:

In the news....

...The markets did the opposite of bitcoin and dropped...

http://www.newsday.com/business/stocks-down-sharply-on-weak-retail-earnings-1.8077278

http://www.thestreet.com/story/12716065/1/final-hour-sentiment-blow-from-retail-blues.html

...Gold weakens

http://www.forbes.com/sites/kitconews/2014/05/20/gold-weaker-new-fundamental-inputs-awaited/

...The FED says they're incompetent imbeciles but hey, they really did save us from economic collapse...

http://www.star-telegram.com/2014/05/19/5831303/bernanke-says-mistakes-were-made.html

...Credit Suisse got in trouble....copped to it

http://dealbook.nytimes.com/2014/05/19/credit-suisse-set-to-plead-guilty-in-tax-evasion-case/


...All this stuff...

http://www.ft.com/home/us

...Assorted First World problems....

http://www.wsbt.com/news/nationworld/10m-yacht-capsizes-upon-launch/26076372

...McDonald's not happy with creepy clown...

http://www.bustle.com/articles/25151-mcdonalds-new-mascot-happy-is-the-stuff-of-nightmares


...Julian Strikes Back - bout had enough of the US's shit

http://rt.com/usa/160240-wikileaks-greenwald-intercept-phones/

...China's still steamed at the US, dissing Windows 8

http://www.theglobeandmail.com/report-on-business/international-business/china-bans-use-of-microsofts-windows-8-on-government-computers/article18762841/


...China & Russia having a lover's quarrel

http://www.voanews.com/content/xi-putin-promise-closer-ties-at-meeting-in-shanghai/1918247.html


....And meanwhile, somewhere in China, they were dodging UFOS slash not Russian rocket debris

http://www.huffingtonpost.com/2014/05/19/ufos-crash-china-villages_n_5353750.html?ir=Weird+News


...US "concerned" about dependence on Russian rocket technology


http://www.ft.com/cms/s/0/27eb43c6-e03b-11e3-b341-00144feabdc0.html#axzz32HoWztGm


NASA prepares to fuck with the American heartland and the south by showing off its alien space technology stolen from the Roswell crash site debris

http://www.ibtimes.co.uk/nasa-supersonic-flying-saucer-test-flights-prepared-mars-mission-1449318


....The apocalypse has officially begun

http://www.techsonia.com/extinct-nightsnake-species-reappears-in-mexico/199392/

http://www.livescience.com/45702-fanged-cannibal-lancetfish-north-carolina.html

http://www.livescience.com/45532-exploding-head-syndrome-sleep-disorder.html

http://www.livescience.com/45740-beef-bacon-product-schmacon.html


Or....

Science, bitches

http://www.thedailybeast.com/articles/2014/05/20/we-can-create-matter-from-light.html


...Everything on here....

http://www.coindesk.com/

...and here

http://bitcoinmagazine.com/

u mean "gold is manipulated down" ..

Well, that explains it. Sleeping bear's head exploded ^^^^^, thus no bears are left on the face of the earth, bulls rejoice!

My final speculation is that Acidyo on Reddit was right:

A 700 btc sell order just got bought on bitstamp, the moon is shining early today

http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/

I was also curious as to what was causing the recent price jump
It is a nice change of pace though from all the bearish sentiment but I was wondering if it was a signal of sorts or just a random fluctuation
Guess I will wait a few more days before celebrating a rally :)

Edit in: Bullish Google indicator ?
http://www.reddit.com/r/Bitcoin/comments/262kye/chrome_team_here_heres_what_happened_with/

•A malware developer hoping to steal bitcoin keys copied the kryptokit extension codebase in order to build their own malicious extension.


•The pipelines that we use to detect malware flagged the real kryptokit extension as being nearly identical since the vast majority of the effective code and assets were the same, causing the extension to be blacklisted.


•We noticed the conversation on /r/bitcoin (many of us are enthusiasts, too!) and realized what had taken place. The krypto-kit extension was restored and re-enabled on users machines.


•No data was removed from user machines at any point.

I think something had to give.  Either more FUD from China causing a 339 retest or people getting burnt out from worrying, by all the bs from there.

Like on april 11th when btc went to 339, I think it took into account further restrictions from china that was suppose to come.  Maybe this mini upswing is the cause of some future good news.

In the Reddit thread I mentioned above (link (http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/)), this made me smile....

https://www.evernote.com/shard/s91/sh/ef95b18a-16a6-4e2a-af6b-fc5b5a3164c5/845a246e519c979ea1e4725d5ba69fbf/deep/0/A-700-btc-sell-order-just-got-bought-on-bitstamp,-the-moon-is-shining-early-today---Bitcoin.png (http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/)

Thursday, I've got to remember to check on Thursday....

And at 8:30pm, with it hovering at 499, I want to know who the wiseass is who won't let it get up over $500, toss down one more buck, already. Don't they know over 500 would motivate some people to jump in?

Bitcoin is being held hostage by 93 friggin cents.  ;D

The indicators show its out of the downtrend and is infact in a uptrend now. Those types of indicators are attractive to traders in general which is one of the causes for the rally.

Its not only fundamentals that drive the price, technicals matter too.

Blah blah uptrend blah blah blah indicators blah blah blah rally blah blah blah technical blah blah blah blah.

Yeah, its so annoying, im happy it went up, but it keeps hovering around 490 and it won't go through 500. lol.

My theory is that the price has risen because three or four people made some quite large (~ 1000 BTC) purchases yesterday thus causing the price to rise.
 ;)

one could ask: what was driving the price crazily low?

For me is people getting aware of China manipulation, stability for a while, good news acumulated

We are out of so called "bears"!!!  :D

You just answered your own question, China spreading FUD and buying in the process.

The price is really rising, im not sure what causes it. I think there are many causes that come together, which in result make the price go up. Perhaps the Ukraine situation is also one of the reasons.

Well it's seeming to stay above 490 on the day after so that seems pretty good so far.

I can't watch the charts anymore...I'm about to have a coronary every 22c. It's like watching the roller coaster zoom almost to the top and then sloooooow down and inch...inch...inch...OMFRIGGINGOD MOVE UP ALREADY ;D

Feel the same way, like when Happy Gilmore is yelling at the golf ball that barely doesn't go in the hole


That's Bitcoin right now, not getting to and past $500.  It will, just getting impatient waiting.

And today, my friends, we have beat this goal. I expected it to do so 2 days ago, but oh well.

bye bye bears, we are welcoming bulls ;D
BTC prices above $500 is good sign

I think it's Santa Bulloclaus leaving a present for the ones who are sleeping and missed it :P


It hit 518, then 517...

And it's Thursday! Don't remember what thread that was on but several were noting that things happen on Thursday.

I was just about to go to bed and glanced one more time and watched it jump hard from 506.

Question - the green bid and the red ask - is this correct: bid is the buyer and red is the seller?

Just look at Bitcoin's price history/ trends and you will realize. We are approaching that time again  ;D

Ahh...i withdrawed few coins just few hours before the jump.
But hey, we are stabilising around 513!

what time did you mean? mid 2013?

That is all the Illuminati can say for now.

Bullish times indeed.

Sometimes no news is good news.  Seems to be the case here.

More adoption, more businesses, more awareness.  Lots of trickles of positive news.

Just gotta keep the China bans, Silk Roads, Gox type headlines out of the spotlight.

Thursday, China bans Bitcoin on Thursdays....

I think we're ok.  We already hit $528, China ain't got shit on us!   :D

Meh, rocket's just gonna go straight up until it reaches the moon.
What is the moon anyway?

Compared to the last two days which were about 490 ish, a 30 dollar just to 520 (and up to 528+ so far) is very good.  It might continue on this uptrend (slow) or could quickly rise to 600.