Bitcoin Forum

Im I the only one that sees something wrong with this orderbook. So Thin -- and all bids jump to keep the price up -- with no sellers to speak of.. If yohttp://ur a trader you will know what im saying.. you seen it yourself.. Please comment.
http://i60.tinypic.com/11cfdvo.jpg

I personally think it jumped on the news of the derivatives trading platform (http://www.coindesk.com/former-goldman-director-launches-bitcoin-derivatives-exchange/). But I could be wrong. On Coinbase it was a sudden surge in price around 10 PM EST, suggesting it may have been driven by someone with deep pockets suddenly buying up a lot of BTC.

But if you where watching the markets at the time you would see it was several orders hundreds of them for different amounts.. Also I have been trading for some time and the movement was very strange.. Suddenly buy orders would come in like 700 right in the middle of the market dumping.. for example .. Humans dont do that.. they gauge the markets and make and cancel orders depending on conditions.. Unless they are set and forget orders..


Here is a real thin orderbook.

http://i58.tinypic.com/se3qq9.png

It doesn't mean that you will need a news event for the price to jump. A wise and shrewd trader would have bought earlier even before the news event is announced. Else what's the point on buying on a higher price after the news have come out. The investor will probably have insider information before hand so you will never know. And it's never meant to be a fair trading in the first place.

Lol you must be new. Welcome to bitcoin.

No time.  Quick message.  There has been much news today.

One piece no one has mentioned here.  Regulation of internet means everyone will have access to the internet, and thus to Bitcoin, by government guarantee.

Yep, it has been a baffling price move, but maybe merely a technical move with some guys taking off shorts

I think that's a little too tenuous of a connection. The point made above about the increase being driven by a number of orders suggests a limited pool of people "in the know" suddenly wanting to buy bitcoin. Will be interesting to see if it does turn out to be some kind of stocking up ahead of an important news release. Or maybe somehow related to how things are going for the March 2 auction?

The recovery seems to be taking way too long but  I'm almost sure the price will recover.

And thus spreading the streaming around to all which means the current paying customers, that are used to superb service, are measured out to receive the mediocrity that this will provide. Like, give to all by mandate and those in the payment cycles will suffer streaming efficiencies but have no recourse because of this piece of buttcrack government shit. amiright? ;D

You're right!

They'll never learn. Regulate: For the Children! and their netflix!

Agreed.  Power corrupts.

News isn't necessary for the rising price, Please don't try so hard to find any related news after the price rise or drop.

Well, this is probably the second post I've read that points to bitcoin approaching the breakpoint level. I mean if it's true, we should see a steady climb once it touches that level with strong buying support driven mainly by the fundamentals. The next week should be interesting.

I suggest to back off looking every day at bitcoin price and starting new thread accordingly. We are currently in the process of ending the down trend, meaning we may be, as well establishing a horizontal channel within the range $200-250, and stay there for some longer time (till summer?). For now, I don't see any major developments that would fundamentally increase the price of Bitcoin. On the other end, even potentially negative news, like the BTER one, do not do much harm to the price. 

Exactly. Besides, you should know by now that bitcoin is wild and unpredictable and does whatever it wants but it's always just down to supply and demand. doesn't have to be news though people always look for it. this guy thinks it's because of Kim Dotcom  ;D: https://bitcointalk.org/index.php?topic=971645.0

That is also true. Bitcoin movements are of speculative character and that is for now the main driving force behind the price ups and downs. As such there is no need for any particular news to make the price moving up or down. We tend to look for a justification of the price behaviour looking for the headlines and trying to find the 'correct' one, but that is pointless at this stage of adoption. only broader adoption of Bitcoin would move us out of this speculative game.

News were there for some time,  but there was no real reaction taking place until now, probably because Kim got involved also, making all news until then that had no reaction, to react with a delay.
We got:

https://twitter.com/kimdotcom
http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-marketing
http://www.telegraph.co.uk/finance/currency/11434904/Bitcoin-revolution-could-be-the-next-internet-says-Bank-of-England.html
https://www.youtube.com/watch?v=e6KRp91YAw8 - Bill Gates saying how bitcoin is even better than currency

.. and there are many more, whose reaction is yet to take place once the reverse domino effect comes into play..

cheers

the price just returned to it's normal state, after china come out of the game, now it rising steady(which is how it should be)

We're in for a wild ride and nobody knows for sure what will happen, my thought that btc will climb considerably in the coming months!

Price doesn't need news to go up or down.

That's how things get done. No news period with a log price period = noobs start selling out. When least expected, whales start buying in and price goes up.

On the contrary - its taking exactly as long as it needs to take!

Have you ever watched the tide come in... It doesn't look like its moving then you realise that actually it was *way* back there a little while back...

It feels like the end of 2013 again !

A rise of just 30$ is in no way giving people that feeling. 2013 was another crazy time, but this definitely feels good, just not as good as 2013.
However if we make it to over 300, then maybe, I would be as much happy.

and 275

It was funny how it just touched 275 and started tumbling down again .
Day range is now .$255.61 - $275.00

This is how it works, next wave is just beginning to form now.

Ha fools!

The real news was that MatTheCat revised his short-mid term outlook to bullish on the 26th February:

https://bitcointalk.org/index.php?topic=969039.msg10595190#msg10595190 (https://bitcointalk.org/index.php?topic=969039.msg10595190#msg10595190)

The timing of this 'news event' fits perfectly with the break out, yet I don't see any Coindesk headlines reading 'Bitcoin Up as Forum Member Changes his Mind' tchoh...typical!

I shall let y all know when I am selling.....(looking at $400 range in the first instance)......maybe.

i think were going to test the 300$ very soon. the only questions is, how long can it stay above 300$
price has gone up quite a bit. there will be a dip sooner or later.

Wow , dont remember the tweet having more than 7000 retweets. It does look like its gone a long way on;y due to that.

on bitcoinwisdom the average price is around $277 now, we can see $300 in 1-2 days
https://bitcoinwisdom.com/

Its bcoz of the BIT news...

Bitcoin has always been mostly fueled by speculation. The funny thing about speculation is that it doesn't need any news or new money to reach new heights... This could be the real deal, a real trend reversal, finally!

I would disagree with you slightly - on the part about not needing new money.  Sure, there's plenty of money still in this space from the last run-up, but given that the supply of BTC is higher now than it was then, there would likely need to be some amount of new money to hit the same point, and also more to exceed it.

That said, I think there's plenty of speculation money paying attention after seeing what BTC did most recently in 11/13, which quickly followed 4/13.  There's money to be made.

what are you talking about. there is always some news circling around bitcoin every day! everyday you can see somewhere starting to use or mention bitcoin while some other place stopped accepting bitcoin

It's speculation, man... Bitcoin doesn't do too well when it comes to positive news, anymore. It's more and more speculation that actually drives the price now. I think it's good, no one needs artificial pumps!!!

There has been relevant news in the finance industry:

"BIT Poised to Become Publicly Traded Bitcoin Fund -- Fund has been racing against rival offering from Cameron and Tyler Winklevoss"

http://www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094 (http://www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094)

As well as more coverage in the print version of the WSJ (here's the digital version):

http://www.wsj.com/articles/do-cryptocurrencies-such-as-bitcoin-have-a-future-1425269375 (http://www.wsj.com/articles/do-cryptocurrencies-such-as-bitcoin-have-a-future-1425269375)

I think kim dotcom recent tweet that he will involve in bitcoin drives the price up
it's good to see big player in sharing file industry involved in bitcoin world, many speculators take this as good sign and bought some coins
and articles from big economic media like WSJ about bitcoin is help the prices too!

Kim is more like a public figure influence, than he is some big investor , are not his financial goods seized mostly ?
I believe the increase has more to do with this
http://www.wsj.com/articles/bitcoin-investment-trust-gets-finras-ok-to-become-public-bitcoin-fund-1425242094 , as posted above.
Just seams more logical, and also more important.

cheers

yeah you're right, it seems kim dotcom twitter influence attract some people to buy bitcoin. He has a lot follower for sure
megaupload was seized by FBI few years ago, and he moved his business to New Zealand.
WSJ article about bitcoin seems the possible key factor cause price goes up. As for economic portal, WSJ has a lot investor/trader subscriber
i'm sure many of them interest to invest in bitcoin :)

Another US bitcoin auction incoming
Government likes to push the price up for the bidders XD
Kidding but it would be a nice gesture

http://dealbook.nytimes.com/2015/02/18/u-s-announces-third-bitcoin-auction/

Haha.  Yeah, that seems to be what everyone thinks on here today.

if bitcoin price come in news its sure that then price will come down traders will sell their bitcoins and you know then what will happens

hope bitcoin will go up to 300$

This kind of growth that is not driven by the news cycle is good solid growth.