Bitcoin Forum

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=&i=&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=1&p=0&

Though many people say that we are going down short-term, I believe that we may be experiencing a correction similar to last May's correction at around this price level.  I still think this rally has legs, and wouldn't be surprised to see $10 or $11 soon.

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=30&i=Hourly&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&

Note that we have broken out of the July triangle ever since the move from $8.4 to $8.9.  $8.9 seems to be short-term resistance, but I think we might go back to $9.2 or $9.5 soon.

I predict the market will go either up or down... :D


I WIN!

I agree



the market remains unchanged
you lose

:D

Damn....I lose  :D

Last 24 hours: twice as many buys as sells (buy = buy into asks, same for sell)

It will be interesting if the market cap breaks to a new short term high.

60 Day Market Cap Chart (http://blockchain.info/charts/market-cap?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=)

Perhaps its does it $10...based on what? Speculation?

Well speculation is fun when you're making bank.  :D

I hope not.  The best thing that could happen is months long stability around $8.

Sorry, proudhon I think your wish won't be granted.  Bids above 5 moved to approx 1.5 million today from approx 1 million, so it looks like buying pressure is returning...

You cant gauge market direction from the order book alone. The orders can be cancelled at a moment's notice.

Spoken like a true bear.  ;)

I agree with proudhon, stability in the price is what counts (i.e. we build a base on pricing over time, not skyrocketing too the moon in terms of price...).

i agree a good 6 months at 8 would be excellent

anyway if you buy at 8.90 or 8$ it wont make much diff once we break 100$ ...  in about 17.52364 months.  :D

UP UP UP
http://bitcoinme.com/files/cache/f08b38a183ccfe3a867d55f3c0546564.jpg
Bitcoin Speed!

Oh god not him..........

"The only way it can go is UP UP UP!"

Go on at some point people will take you guys serious and really start panicking  :P

I agree- stability at 10$ would be just fine  :)

I'd like to hear you say that when we're trading at $11.

I agree, stability at $1k would be nice.  :P

I'd like to hear you say that when... WAIT! What?!?

Tomorrow, we will see something interesting :)

give us moar hints =)

Daily transaction volume fell below 20k a few weeks before the move up from the USD$5 level. During the period from May through the recent spike above $9, volume fell below 20k ten times, each instance occurring after a fairly significant move up relative to the prior low volume point.

I would think that this time we'll see either a comparable period of a few weeks before a resumed rise, or as little as half that time. So far we've already had a one week respite and avoided the beginning of a bubble. Good news all around.

Looking forward to "something interesting" tomorrow, INAU :)

Edit: Forgot to mention, daily transaction volume was ~16k yesterday...

is their a rally coming up that idk about?

the pirate party is vanishingly unlikely to tip us off as to the direction of their planned move

Just keep in mind that lots of BTC have been created since the 11 high 25-30$ which means that the total BTC capitalization is reaching for the current "roof".

Has BTC really had that much natural growth supporting what was once a crazy bubble?

... I suppose the halving is coming.

Just broke 9!

It's starting ;D

false alarm.

at least for now

peek-a-boo

Another large buy has put us around $9.2... depth to $10 is now 45k BTC (it peaked at around 90k, so it has halved).

Are you the btc-e hacker?!?

lmao +1

The predicted ramp continues... 9.54 high, and I see no reason to believe that it's stopping.

bitcoin rallied from 5 to 9 in 2 months
now for 2 weeks we have been at 9
isn't clear we have topped off?

even if this rally pushes higher... how much higher?  the higher the fewer coins are needed to crash it.

We pushed over 9 2 weeks ago in an unhealthy situation that many attribute to a particular market manipulator.

Take a look at this graph and tell me if you see a top:

http://blockchain.info/charts/market-price?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= (http://blockchain.info/charts/market-price?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=)

I just see an artificial spike...

There was 60k btc for sale at or below 10 yesterday and 35k now.  This is a healthy amount (shows market conviction), but the trend remains bullish.  And these pushes and stalls are another healthy indicator in comparison to the kind of rise irrational exuberance produces.  These smaller dumps and sell walls look to me like short-term speculators calling a top and then getting eaten by long term investors who are going to put the coins in the freezer.


But its ok I know you sold your coins... keep trying to retroactively justify the choice  ;)

We spent two weeks below 6.8... woe to those who sold below 7 (or 8, or 9).

Exactly. If the investment and speculative capital continues to steadily flow into Bitcoin, that wealth won't be easily spooked with the lack of technical bid vacuum areas. Most are only looking at the purely speculative aspect of the Bitcoin markets without taking into account real world business activity.

As a market grows toward the 9-10 digit size, it starts attracting 'legitimate' businesses that see a potential client/consumer market that can be tapped. So at some level not too far above the USD$100mm market size, real businesses should start waking up to Bitcoin's presence and seek ways to tap into it. With that happening, the chances of Bitcoin's exchange rate collapsing becomes even more remote.

bitcoins in the freezer

please her with a tweezers

9-10 digit size? Like $857,499,185 and $1,320,419,443? :-)

Yes! Exactly those numbers! :)

Congratulations OP, you have a well-functioning crystal ball. Now tell us what happens next? ;D

Spike to $10,000 then $0  ;D

4 digits coming soon ;)

0.001 four digits  :D

Select one:

<18mo
<16mo
<12mo

Well, looking at the chart I would wager for a continued rise to around $13-15 then a steady consolidation for 3-4 months.