Bitcoin Forum

Here we go , lets go to 640 and hit back to 610.

640 to 610 is a pretty pathetic pump and dump..

looks like slight fluctuation

I think we'll see pullback in 640-650 area, but then onto the 666-680 resistances. Then we see real resistance maybe. :)

THE WILLY BOT!! Quick guys get em!!

Oh no, again hamsters shorn

Oh no, bitcoin is dead, quick, sell all your coins!!!  :D

not seeing the failure. i think we broke out and will continue up a while. China is just sleeping. ;)

640>615 and then 650 again>579>625>540> Then BULL MARKET?

RALLY!!!!!  Its about time for the real thing.

Maybe, but time will come when this will be the last pump - without dump.  ;D ;D

....because volume?

I smell an ascending triangle breakout.  ;D

Well, if you pay any attention to price action, all exchanges follow Huobi and Okcoin, completely. In the last month or so, it's been a complete tit for tat -- more so than in previous months -- western exchanges have lost all pulse and are following like zombies.

Where do you smell that?

Doesn't look like fake pump to me, fake pump means price $600 to $1000 in 10 minute..

This is not pump! This is real market.

the price can and only can go down

Time will tell. reach 1000 in the next 3 months

So, you think we can rally 40% in 3 months?

We rallied several hundred percent in one month back in October-November.

We went down a little bit again; we could be @ 800$ in 2months or @ 400$, I think 400$ is more likely than 800$ but 525-675 is even more likely ;)

Do we need another thread on bitcoin price?

Absolutely not.  The speculation sub-forum should consist of exactly one thread.  Anything else is strictly off-topic anyhow.
 ::)

I think we should be aiming for $640-$645...possibly $650 this week.   This is a reasonable number for BTC that isn't too sharp of an increase.   Obviously skyrocketing is far more exciting, but since I am not really selling any right now, I would prefer sustainable growth

Time to fall back to $600

On the other hand, you've proven to be quite a reliable counterindicator in the past...  :-\

Dell accepting bitcoin payments was an overhyped event.
It means nothing for the bitcoin price, as we can see by the current state of the market.

Its obvious that bitcoin is still in downtrend, i really dont know whats even stopping it in the 600+$ range, i expected 500ish for this month.

Cheers

but you said we were supposed to be at 400-300 by now. why are you always wrong?

Once we reach 700 and break it, then we can start seeing another good rally like what we seen with 420-600.

Or we can fall back again to 600s or lower ;)
At some point we will go up and break 700 800 and more but we may reach 700 once or more before it happens

Sure, but what happens after that.
Aftermath of a pump and dump is much worse for trend than the lower price. Fast fluctuations in price benefit daytraders and short term investores only, and they keep their profits in fiat, meaning that part of the money that came to bitcoin is goig to a person that will keep it away from us.

Lets gope that some real good news and development will come, and that the next rise will be justified, and wont be just another rise and fall.

$61x again :)

how far is $5xx?

560$ is next then we'll have a small up trend, an other down trend then finally we will break 800 900 and maybe 1000$ ;)

5xx is already here.


But seems like price is longing for recover to 6xx

The price is 10$ away from 600$ but it seems very difficult to get there

I have no doubt that the price will go up to 600$ + then way higher when the opportunity comes

Price has been stable at 580. Hard to see it go below 500 with more merchants accepting bitcoin.

I don't see us falling under $500 anytime in the near future. I think we will be above $600 again soon. There are a lot of people here, however, that argue that prices actually go down as more merchants accept BTC

btc-e and bitstamp now have almost the same price, meaning it won't hold longer. I guess we will see bitstamp around 620 and btc-e around 600, after the stabilization, since I can't see the price going down.

It definitely won't hold. I think we have some incoming downward pressure though. A couple bleeding longs on Bitfinex (but not much), Wikipedia selling their donation coins for expenses, and the Ethereum sell off. That could happen this weekend or early next week. I think $570-$580 range is more practical as a starting point next week. From there, we might start to get a run up as people get excited about the potential from the ETFs (although it might still be a bit early for that).

Why does a similar price on btc-e and bitstamp mean anything?

BTC-e normally has prices $5 to $10 below Bitstamp. Thus, it shows the exchange valuations are a bit out of whack. It essentially means that either Bitstamp is $5 to $10 underpriced or BTC-e is $5 to $10 overpriced.

Exactly. But how can jaberwock know that this equilibrium means that prices will rise, instead of fall?

Given that Bitstamp is even leading Huobi right now, whose price has been inflated by 20 (scaled to approximately 3600-3650) over the other Chinese exchanges due to a heavy bid wall that has been there for a week at 3600... Bitstamp is $5 overpriced and BTC-e is about $10 overpriced.

He was just saying that it was an imbalance and it was unstable. Then, from there, he was saying he thought it would rise based on general sentiment... he just felt like we had hit a trough and that the bears might be tiring. I don't agree, but it's not unreasonable.

Alright, thank you for explaining!

In the pumps usually btc-e is always the one behind in the price while when there are dumps, both prices seems to make a parity

From my experience Bitstamp ends up around $12-$20 greater than btc-e, when we have a true sidewalk.
No idea why, so no way to know how long we will have this rule working.

Nice note. That might be something to watch for after we get some movement to see if this is a trend that holds.

Ahh!! It appears I understated the misbalance.

Also looking at the order book, it doesn't seem favorable for a bull run in the next couple days... a dip seems more likely. BUT, thee Huobi bid bull has been keeping everything in a stalling pattern as of late. I think the general pressure is downward but the bid bull might be able to hold the market flat until good news springs up.

How can a pump be fake when it involved real money?

If you think this rally is fake, feel free to sell on every pump.

A pump can be fake. Let's say, hypothetically, you know a massive purchase of 1000 bitcoins will elicit a response by other parties of 2000 more Bitcoins being purchased. Well, if you know that to be true then you can pump the market up and then dump your 1000 bitcoins before the other players are able to again unload the 2000 they tossed in... this allows you to sell at a premium. Those are random numbers not based in fact, but that's the concept. More importantly, it works. People feel like the gains that they have on a pump are real and/or they get in at the end of a pump and can't accept the fact that they've been duped. So, they hold on to it.

Note that this is more of an issue for day traders and why they don't stand a chance in hell against the whales... they get eaten alive because the whales can move the market whereas the common day trader can only respond to it. For people playing the long-term game, however, it is entirely a non-issue.

this is not a fake pump

What pump??? =S

Not a fake pump this time, its going up and up and up....

is this a fake dump?  ???

Didn't they stop doing arbitrage on Stamp? Wasn't that the reason for the rather tightly coupled price? I guess if the free market now has to do the arbitrage, it may fluctuate or diverge more! Doesn't it?

I guess it's going up, man!! Ha, up up up from here! Nah, this ain't a fake pump! Not on a sunday. I was waiting for a genuine rise and expected it to occur on sunday night or so, but hey why not, this ain't a bad weekend at all!

You are confusing BTC-e with bitfinex I guess. Bitfinex had strong price ties with bitstamp, but now the price can diverge quite a bit.