Bitcoin Forum

Steadily increasing to sub 600 for the past 2-3 days. Is post 600 on the horizon for the weekend (going into next week)?

It's already crossed or at least hit 600 on bfx, btc-e and itbit. stamp has hit 599 and is at 598 as I type this.

I wonder whether someone has insider knowledge on the results of the auction and is trading on that knowledge.

Yeah, the Coinbase Buy price just went a hair over $600, but, then, it's always slightly higher than the market. The Coinbase Sell price is ~598 right now.

http://24.media.tumblr.com/c94b1a460885eef294f21e0d1b575cf9/tumblr_mk18mxZ0El1qd1ubro7_r1_500.gif


chopping bears..

321 coins and falling on Stamp to $600

...and there goes Bitstamp.

... aaaaaand stamp hits 600

wow, buy now or hold your peace!

Beat you by 3 seconds, lol.

You should change the thread title to "Weekend rally past 700?"  ;)

Went from $575 pass $600 in less than 2 hours. It's the auction bears buying back. We might even see $700 on monday.

damn. that's why i'm not a day trader lol

When will we pass this Fing FBI sell shiat?

Its not weekend rally, just the end of manipulation to get cheap coins in the FBI auction. Now we coming back to normal.

I see 650 by the start of the next week

Thanks for responding on my post. I never had such quick response (per view ratio)

to BTCtrader71
yea shortly after my post, it hit 600 on the sites. Now its hovering between sub 600 and post 590. I guess 600 might be a (small) resistance point. As far as insider knowledge, maybe idk.

to mmortal03
yea coinbase is usually higher. Now it seems to relatively close (but I notice in a full on bull market, it is a little (more) higher)

to mocrotasje
thanks for posting your 2nd (new member) listing on my page. Enjoy the forum and nice gif xD

to BTCfan1
thanks for the details. for anyone else wondering, go to bitcoinity and check the bottom to see what is needed to move the price (i forgot who told me this, but its helpful)

to hodlmybtc
I would have done 700, but I know many would not take me seriously (and might seem too bullish).
The 600 inadvertently worked out for me. If it had shot past 600, the thread might be obsolete (600 is a given, now 650 a new target or something), but since its hovering, maybe I get a few more comments  (about when it will safely be over 600) ;D  

to jbrnt
yea a quick 2 hrs it was. as for 700, lets see.

to BTCtrader71 again
maybe not best to day trade. as I read YipYay wrote, its not for everyone. I think he said like 3-4% are good at it. You can give it a try I guess.

to UnDerDoG81
I am guessing in july to mid july when its paid for and maybe some news (or maybe no news and it goes away)

to Malin Keshar
I agree. I probably misworded the title. This day just happen to be a friday (the ending of the bidding). 650 by start, lets see.

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Again, I appreciate the comments. I made the vague title and description, as to not steer the discussion in one way (or to re-hash another thread that has been done - on the coins). In the past, I sometimes became too descriptive (like I know if I mention the coins selling, people might be thinking, "oh another thread about the coins by another schmuck).

I'll describe a little detail. I saw increase in the past few days, and it seems reasonable to believe that 600 is a psychological barrier. (it touched it and went back down), so I guess once people think its worth that much, then 650 or something is the new target.

This spec thread was for the weekend and next week prices for you guys to discuss. Anyways peace

There's a huge bid wall at $600 right now, ~54 bitcoins to get there, and ~300 more to get above it.

Not so sure, I'm skeptical. I'm not a trader by nature I'm not exactly sure we'll see anything above $600 unless something major happens, I'm expecting maybe even a price drop. (i wouldn't complain because i'd find a way to buy as much as possible)

From what I've been watching it's been hovering in the 550 to 600 range for quite a few days now, I don't know where it'll end up, but I don't think we'll rally past 600.

lol

Well I admitted I wasn't a trader, I have no idea what's going on and see no reason why it would go above $600 but I guess it's funny in a way? See here's the part where I say over and over again that I am by no means a trader nor can I speculate well, if anything all of the stuff that's going down might bring the price down but who am I to say? I could be wrong, and that's the best part, I could be wrong and it doesn't matter to me. I don't really own a large piece of the pie, I'm working on some side projects that I could use some bitcoin but it would require me actually having money.

I certainly cannot shell out 600 buckaroos for one btc right now, sorry broseif.

Seems to be endless sell pressure always at $600. We have however gone up today, which is really surprising IMO

I noticed that myself, I have 0.015 BTCitcoin and it seems to go between 9 bucks and somewhere a little below and has all day. So I guess we're holding steady, who knows what's going to happen? All we can do is hope that we go to the moon or something to that effect.

Looks like the auction is a success since the price rally pass 600.

https://i.imgur.com/sVKYIpH.gif


Just bought 5 BTC, hodlin'

Off topic, I don't know why people put their names on gifs that aren't theirs. That's a great Dr Who gif but seriously, you don't produce the show you just took the time to run it through photoshop and make the gif. It's not hard.

Anyways congrats on your 5 btc, I wish I knew about trading and what not so I could start doing so myself, but I don't think that's gonna happen unless I get a life lesson in it.

yeah it was success, but we don't auction results yet
tomorrow we will see the result and hope make bitcoin price climb up to respond it :P
not otherwise :(

More like the uncertainty before the results are found out is a success...

Sources say $789/coin!

who is your source?
any links?
how can people buy $789 from auction if they can buy it for $600 in exchange?

at least the price climb up again :P
it seems success

well, Bullfinex has already made a couple runs past $600 -- but hasn't managed to push further. the bulls there often get a bit too excited. i think we might go sideways/drift down for a day or two, form a higher low and make another impulse up. 8)

I bet at that, we will past 600 by this week end to start July above 600 and go fast to the 700 the first days. And the whales know it´s a fact, that´s why they put a 500 btc sell order at $600 to keep it cheap and trying to buy before it goes rally up.

make sense, because too many BTC in sell order to press bitcoin prices
$100 increase in 1 day? we'll see that, hope this is really happen :P

"The first days", not the fist one xD

This deserves a facepalm. You try buying 30000 btc at $600 in 1day and tell me if you succeeded without pushing btc above $800.

$800? I say $1000, that´s a lot.

Thats why the sale of these coins might trigger an increase and hopefully a new AtH

someone said it would push it well into the 2000s+ if they did a market order before. i believed them at the time, although maybe i should have researched further

Looking to me like we may have popped above $600 for the last time before another weak leg down. If we can stay = or > $570s, might look ready to pop up finally, but more sideways would not surprise me either, especially with everyone so bubble-hungry.... market may want to punish those longs bleeding swap fees. ;D

Its a crazy world, i even agree with you; judging how fast we go 10-15$ up , and much slower back down.
Its like the market is prepare for 700$+ , and in the hype, even much more

What hype?

people who lost at the auction may now be buying in coins at the exchange.
These may be people that wanted to go and buy bitcoin anyway.

sorry my fault, i understand what you mean ;D
hard to no pushing price if someone buy bitcoin with huge volume like that
maybe someone trying it right now and psuh the price :P

it would make sense especially since they know that the price was at least $X. but takes some more time I'd think

Yes, most exchanges take days or weeks to register and confirm bank account and ID and address and all that. And than it takes some time for the funds to arrive as well. So I would be surprised if they were able to get their funds in this quickly.

But still I believe they may buy bitcoin from other sources now that they lost the auction.

or not.

seems like we are back at $630 for now, next stop $660 (or $666)

probably some resistance at $680 as well, but after $700 and $750 it will probably gain traction.

As far as I know, the auctions results are not out yet. Bitcoin price has shot up $30 within two hours again. Do you think someone have inside information and they are buying before the bid prices go public?

Why all in 1 day? This auction is taking over a month. I guarantee I could buy up 30k btc in a month without moving the price a noticable amount.

This is what I think will drive the price up.  I don't think anyone was "manipulating" the price so much as the big buyers were not buying because they might win the auction and they don't want to drive up the price in the meantime OR end up with too many coins.

Now that most of them lost, they will need coins fast.

Yeah, agreed that by "fast" you mean they are sensing something on the horizon and want to get in quickly before the 'thing' happens.   :D

I also find it interesting that Coinbase bid in the SR auction.  In the past, they have stated that they are not interested in holding btc per se, but act as a broker who buys from the exchanges on behalf of users/merchants.  But as witnessed during the run up in November, they quickly ran out of coins and could not replenish them fast enough.  It seems the liquidity wasn't there, and that was with only a handful of exchanges (including Mt. Gox, the major one at the time).  Now today we have what, over a dozen or more prominent exchanges, all fighting over the same amount of coins?  Yikes.

I wonder then, have they changed their stance and now wish to have a significant supply of coins on hand for something in the near future?? Hmmm...mmm...   ;D

that would take time, effort, and risk.

you would risk the price moving up naturally during the month, or risk having the exchange gox you

Who says they didn't already have accounts and had already been buying prior to the auction?

Well, we do know that they haven't been transferred yet: https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55

things heating up around here. expect $800 "soonish"

How soonish? 2015?

Who was right?  ;D

The trend heading to 700 is strong.