Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.
Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)
Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!
If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?
If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox. The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.I have that line, embroidered and framed, hanging right over my bed. To many people here expect BTC to be worth thousands. Emm... What? |
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In unrelated news (and more on topic of this thread), bid/ask ratio shot up in the last 24 hours, from 0.67 to 0.85 (source: coinorama).
In the recent past, this was usually followed by a noticeable increase in $/btc. Will be interesting to see if it holds this time.
Seems to hold, so far. From around 125 (on the 16th, when the ratio started going up) to slightly below 128 today. Small, but steady. Very suspicious behaviour at stamp for last two days. I am really eagered to see what will happen. Probably we are waiting for gox to lead the way (buy / dump). |
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has anyone else noticed the 1 btc bid at$136ish that temporarily pops on bitstamp every half hour or so... what's up with that
This is going on for more than a week now. |
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I just read a book called "Irrational Exuberance." Not that bitcoin isn't on to something unforeseeably grand, but I see way too many votes for $100,000,000.
Stupid question stupid answers. |
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Birds are flying very low. Is this the sign?   |
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Good points Itcher, lots of things is not right at the moment.
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Looks like $140 wall was pulled.
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Guys on topic: will this wall fall?
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Good one...  Only the owner of the address will be able to count the sheeps. |
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It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading
We're transitioning into the post-Gox era. There is some worry and confusion on where one can safely trade and store bitcoin which is reflected in the lower volume. The risk to smaller traders isn't necessarily a quick price change to their detriment, but rather the risk of not being able to access their coins/fiat at any given moment Also, the the increase in ways to buy and spend coin that aren't Gox and other trading services is increasing as well which is reflected in the lower volume. My basis for the above statement is that the reputation and positive press, which always seemed to be one of the best indicator of prices before, still feel pretty positive to me. There are also some major developments for BTC coming down the pipeline. These facts don't seem to be represented in the volume on the current main exchanges, thus my hypothesis. WEEEE! We are listening that sentence for a long time and I still can not see anything getting traction. |
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ooh ... whale showing a fin again  When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy. We don't need no stinkin' whales. If there would be no whales we would "never" swim from $65 to $150. |
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Never heard of the service too but after watching video on their site you should probably just start with ABC of Bitcoin.
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Damn just when i'm about to go all in at bitsamp  ,won't let me log in! And since no trading for last 3hrs there i assume its for everyone right? No it is working without a problem. Just some pinging apis were banned. We are at $127.5 BTW. |
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I personally think that the dump was just a bear trap. I have nothing to back this claim.
Except simple common sense? Someone invested a lot of money steadily maintaining the price while accumulating a lot of coins during July and August. They're not going to let a couple of smallish whale dumps seriously decrease the value of their hoarded stash. Hence my earlier post of the picture of the big whale eating the smaller whale. You know? The one following the pictures of a beartrap and a bear shorn like a sheep. No one is stronger than market, if the market really wants to go down, it will go down. Even whales with lots of money can get fiatless or just unable to deposit much sooner than they expect (and they went pretty far already). |
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Is it a possibility that the price will fluctuate between say 110$ and 150$, instead of following the natural course of a bear market?
The reason I'm asking is because today the long term parabolic SAR flipped sides again, now showing an upward trend.
My recognition of the EW says that we should experience a large drop no later than 2-3 days from now ( 13-14 September ), and then
enter a fake bull market. If this does not happen ( and right now it seems very unlikely ), then I think EW will be useless for long term predictions.
Similar thoughts there, weekend could be dumping. Expecting $115 +- $2. |
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Bitcoincharts doesn't show updated price data for bitstamp anymore. Not the first time this happened, as well. This is pretty annoying. At first I thought, no big deal, no feed for a few hours, but it's more than a day now. When will this be fixed?
To play devil's advocate for a second: could it have anything to do with the fact that bitcoincharts is owned by Tibanne Co., Ltd., the company that runs mtgox? Maybe give people a little incentive to keep trading on mtgox... I mean, who wants to trade on an exchange whose data isn't even properly displayed. Then again, it's not as if mtgox has anything to fear from bitstamp, their position as the dominant exchange is as stable as ever. Oh, wait.
No devil advocate. Yesterday bitstamp one more time banned all bot ips that are making frequent requests to their api. Happened the same also around one month ago. |
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Bill Gates will convert 50% of his wealth into bitcoins soon. What price should we expect?
$3125 (injecting that amount of $$ into the Bitcoin market would result in this price) Right now, someone with about $10 million could push the price above $1000 on Mtgox. Yea right - someone in other thread just calculated with $8M we went up $40 or so. And your math is from Mars?  Read the post above mine first. Reality is smth different. |
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Bill Gates will convert 50% of his wealth into bitcoins soon. What price should we expect?
$3125 (injecting that amount of $$ into the Bitcoin market would result in this price) Right now, someone with about $10 million could push the price above $1000 on Mtgox. Yea right - someone in other thread just calculated with $8M we went up $40 or so. And your math is from Mars? |
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lots of lulz to follow when that bid wall falls.
$180 by Friday Yes, definitely. Which Friday do you have in mind? |
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