Bitcoin Forum

Bitcoin gets a price ticker on New York Stock Exchange and the price does not move????

I really do not understand how is this possible.

I am glad to see BTC is going to become a classic stock market traded commodity, like oil, gold or corn. However, all these commodities are EXTREMELY sensible to good/bad news.
BTC, still nothing.

I know it s still too early to think this way since traders have not invested into BTC to be able to move the price due to these great news but still, not a single $1, price increase, not a single one.

Firstly you should have made this thread in the Economics subforum. Someone would have swiftly answered.
This isn't surprising. People try to manipulate the market and accumulate so much more at lower prices. When you factor in everything, it is just a matter of time before it starts going up.
The question is where will it stop and till what point will it bounce back?

And this is problem of bitcoin. Bad news travel fast and have tremendous impact on bitcoin price but good news are usually ignored. I noticed this trend before, many good news not only didn't make bitcoin price go higher but soon after that price dropped in value. It was the same when Microsoft accepted bitcoin. I now firmly believe that bitcoin price is manipulated by whales and nothing more.

This is no different from any other trade-able commodity. People always try to manipulate the market and buy low.
True, it s much easier to move BTC market and keep it suppressed then oil market.

However, it s also much easier to push BTC market up.

it could also possible to move down

It did make a impact... My neighbour knows I am Bitcoin Crazy, and he stopped me in the street, to tell me, he noticed the Bitcoin price ticker on the NYSE.

His next question was... Is Bitcoin getting that big now? {This put a smile on my face... He always shot anything down, when I spoke about Bitcoin}

I anticipated his next question... Where do you buy your Bitcoin?  ;D ;D ;D

People start to notice, and need to figure out where to buy at the lowest price... So it will take time. {Education}

The guys that put you down will buy during the pump make sure you sell then. I have coworkers in same boat.. I tell them you will buy Bitcoin one day and that's when I sell.

When did it get listed on the New York Stock Exchange?
I only hear about it now.
Got any links to it?

maybe we should wait for a few more weeks until many people get aware about what is bitcoin

https://www.nyse.com/quote/index/NYXBT

Price = supply and demand not news.

Nasdaq Signals Confidence in Bitcoin, Not Just the Blockchain

http://www.americanbanker.com/news/bank-technology/nasdaq-signals-confidence-in-bitcoin-not-just-the-blockchain-1074405-1.html (http://www.americanbanker.com/news/bank-technology/nasdaq-signals-confidence-in-bitcoin-not-just-the-blockchain-1074405-1.html)

Very interesting article!

That is awesome :)
Didn't hear about this myself until today so for me this is new at least it will make people notice it more on a daily basis give it some time it likely will have an effect sooner or later.

It seems to be quite recent news.
If you look at the all time graph, it is one straight line from 237.03 USD/BTC on May 18th to 233.31 USD/BTC on May 19th.
According to this graph, Bitcoin is doomed ;)

This.

I cannot believe this wont have an impact. Maybe we need to wait a bit more.

It'a bear market now, you can't expect the price move too much.
Just be patient, the price will rising when people realize bitcoin is a great thing.

New York Stock Exchange Launches A Bitcoin Index Bringing Bitcoin To Wall Street

https://www.youtube.com/watch?v=_ycnshQ_ZN0&feature=youtu.be (https://www.youtube.com/watch?v=_ycnshQ_ZN0&feature=youtu.be)

That may be true, but I think OP means that "news," did very little to encourage consumers or investors for that matter, to purchase more bitcoins. I'm surprised that the price hardly shifted as well.

This.

Knowing limitation of BTC market, it does not take much to swing the price up. Cause supply s very limited compared to most of traditional commodities. Yet, nothing.

i heard too it probably the effect will be felt a few weeks after that, just waiting for the right time i think
wait a bit more  ::)

Let it come to their markets my friend. Our exchange thing never got affected on news, but rather rumors.
So, just wait as it will decide the liquidity by their stock exchange users and not the ones currently in Bitcoins I guess.

ahh news like this usually don't have instant effect to price. just wait for rally and fasten your seatbelt.)

At what hour NYSE opens? 9am?

Trading hours are 9:30 a.m. to 4:00 p.m. ET., but the index is only updated once per day.

I guess we have not learned this by now

Buy on rumour, sell on news.

- Mayer Amschel

Thanks, updated at market close?

Don't see why it would rise just because it gets a ticker. We gets lots of good news or merchants getting involved and the price doesn't budge. Regardless, I don't really care about the price in the short term but the price in the long-run. Give it time and it'll likely rise to its former glory.

I think the bitcoin market is like a basketball held underwater. You can hold it down, but sooner or later is it going to rise!

Why is the volume zero? No one is trading?

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

Probably because it isn't tradable at the NYSE. It's just a price tracker.

Some interesting articles posted in this thread.
Surely it's only a matter of time now until the beginning of the next rally.
Will be good to see the bears & trolls beaten into submission when we begin an upward move.
They've been slapping us silly for over a year, time to get some revenge.


I love this post -  ;D

price is not moved by random people or poor people, you need big investors with tons of bucks to shake the market properly, these don't are not driven by news even if they are big news

they have their times of when to move and start investing, if they did not start yet is because there is not enough interest in bitcoin for now

We should have results withing a week, if the price s going to react.

NASDAQ is using open assets, it needs time to roll it out. Great results guaranteed.


http://blog.coinprism.com/2015/05/16/nasdaq-using-openassets/

Buy the rumor sell the news  8)

I think it is not more a question of news... if the price should go up, then it will be only for an high manipulation. The 'rule' buy on rumors is not valid here in the bitcoin world anymore  ;). (remember the Paypal news, etc... ).


The unique internal thing that will pump the price would be the halving... nothing else.

price will rise when people notice about bitcoin price ticker and learn bout bitcoin how it works

maybe yes... maybe no... Who knows? I think it is only a question of speculation and high manipulation. The price will not raise due a good news it is most probable that it will dump due a bad news http://techforum.it/styles/default/xenforo/smilies/asd.gif.

If the whales never shared the news strategically, then there is no pump coming because they don't want the pump coming. People keep getting confused that the market is fair it will only move when the the few are ready for it to move  :P

NYSE Bitcoin index certainly adds to the reputation of Bitcoin, but there are a few important events waiting to happen:

-Solution for block size
-Final version of BitLicense
-Winklevoss Bitcoin Trust (ETF) / Gemini
-Last USMS auction

price rarely collaborate with news

Idk about that lol

Only "bitcoiners" are left right now.

If you are going to gamble on BTC, right now is the time.  Weak hands are gone, it's zero or hero now baby.

People like ideas that re-enforce their belief. In a bear market bad news re-enforces belief and good news will be ignored. When overall sentiment changes to bullish the reverse will apply. Stock up now while its cheap.

Excellent point. Even the trolls are down to just a couple of disturbed attention seekers.

It is looking like we will have an exciting few years ahead.

The only question is, when does the price bubble again?

The NYSE stuff was priced in long ago. It's been baked into the price all along.

There is a short document somewhere in the NYSE site that describes the their bitcoin price index.  It is some kind of day average, computed (by a secret formula) from data provided by an extensive list of bitcoin exchanges whose names begin with "Coin", end with "base", and are at most 8 letters long.

The price is updated daily at 16:00:00 UTC (4 pm London time), weekdays only.

It seems very useful, for what I cannot say.

I think that good news is expected.

If there wasn't any good news, everybody would sell.

I doubt the average Chinese bot gives the tiniest shit about good news or lack thereof these days.

Well that can't last forever. Only 21 million coins max, there's not enough to go around if bitcoin gets big. What happens if coinbase or circle run out of bitcoin to sell during a huge influx of newcomers? They go to their supplying miner or exchange and buy some. Eventually the whales will run out of coins or decide to stop selling.

So your one of those that wants the price to go up. I mean it be nice if it did , but a few still want the technology to continue not just the price.

lol. This was good. :)

Those are smart people, unlike the majority here that's just looking for a get-rich-quick scheme.
They know a scam when they see one.

Usage for the index could be for futures contracts and options.

lmfao

If accounts are in usd that would enable big fiat players to simply leverage short Bitcoin to hit $10 then take profit.. Now imagine a bank doing this with almost unlimited fiat paper.. It skips the need to buy the coins to short them if fiat is allowed to be used as collateral.

Price will rise when people learn about bitcoin and btc almost free transaction

so the good news that work now, is to make bitcoin not worst in the price

in the end bad news drive the bitcoin dumping, good news prevent that, then my question is , what we need to raise?

more useful than your filthy trolling.

Oh my. :-\

sry, i meant the other one, not you

Oh. Oh my.  :-\

no sry 4 u

People here think good news should trigger insta bumps. Are you new into this?
First of all: ALL markets are manipulated. Ask yourself, do whales benefit from a huge BTC price right now? Nope, because we are still very early in the game, regular folk has still tons of doubts about it, there are tons of random BTC millonaires out there holding tons of coins that they mined/holded by pure luck. They want all that wealth of those nerd's pockets and they know they will end up panic selling if they keep this mental feeling of a down trend.
Manipulation + BTC still very early developed (its like early 90's internet) explain anything.

In other words, buy, hold, or cry later.

This