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Read the thread expecting to see sub 450's with the price imploding - actually 471 on stamp. Lot of noisy bears shorting and talking book. Personally I think anyone trading bitcoin especially on the short side with leverage is insane.
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The price will move up sharply before the ETF is announced. From this we can deduce it is sometime off..
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Awww, look at puppy Blitz, before he became all callous and cynical about the markets... He even complained about a "manipulator" who's "keeping the price down" ... just like the new noobs are doing now :3 Don't ban me please  Several names still posting regularly on here. Why not rich?!  |
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Have you looked at the current "decentralization" of those who record transactions? Half a dozen pools record the vast majority of all transactions. And that assumes those pools aren't owned/controlled by same entities.
Do you understand what pool means? |
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Then again, the only reason that broke was because of the mtgox bots ... without them I wonder if we'd have gone sideways/gradual incline right on through to today at $470. This may scare a few of you who bought at this price or higher so you may not want to think about this but I'll throw it in your faces anyway.. The price of a BTC was around $100 when the "mtgox withdraw problems" begun. These problems created a constant 10-20% price gap between emptyGox and the rest of the world. A few select people got to do what they wrongly called "arbitrage" - they got to withdraw some of what little fiat that was actually at MtGox from MtGox and buy BTC on other exchanges. This created buy pressure on other exchanges. People looked at MtGox and thought "that one must be leading" and "look at all that money in the MtGox orderbook". It turns out that "money" was just numbers on the screen representing long-gone funds. The interesting questions then: Would BTC have gone from $100 to $1000 without this gigantic MtGox scam? If a BTC really worth more than $100 today? So willy has been confirmed as fraudulent? News to me and the rest of the world. Just to recap gox accounted for 10% of global volume during the last runup during which most volume and money changing hands was in China - where incidentally the volume remains. The market has priced btc over 100 dollars for a year and you are arguing it is levitating because of a fraud on a long defunct exchange? Let's see what Mr Market says over the next year. Fundamentals on a relentless onslaught of good news and newsflow suggests that the past will repeat itself once again. |
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Price on stamp poised. Ask walls melted upwards. |
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Ok. Now a big buy on stamp to get us through this wall!
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In a veritable sea of good news the decline seems to have stalled. Looking at a 12 hour chart on bitcoinwisdom of stamp it looks surprisingly bullish. A sequence of higher lows. A move upwards to retest the 680 area (despite the doom mongering reaching an almost overwhelming din on here the last few weeks) looks both possible and if it occurs over the next month would be a nice platform for a potential next move upwards. If that happens then it will look really obvious that the 3xx low was THE low and all the bears will be wondering why they didn't buy in between 3xx and 650 . |
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It's ridiculous that anyone who predicts and sees a down swinging bear market, and a overrated protocol / currency, is deemed as troll by the majority of bull guarders on this forum.
The truth is that the troll has shifted nowadays from the bears to the bulls.
Oh calm down silly sausage. Just because the huge preponderance of obvious trolling threads and a few accounts of ONE single person have been silenced. What a difference it makes, too - harmony and ill feeling has left the forum in one fell swoop to reveal the true feeling of the forum. Reasonable debate is to be welcomed always. Your contribution so far is to suggest there is a 70% chance of fall to 50-100 dollars from 475 dollars citing no evidence whatsoever. Good luck with your short. |
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Need a big bull buy on bitstamp to get us moving..
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As soon as price starts increasing miners start holding more coins, which then in turn fuels higher prices as supply decreases.
And what, exactly, would make the price increase in the first place?  You know full well.. |
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I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.
Could you see the previous 10x movements upward every year preceding this? What is the difference? |
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^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage. Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down. Now at 5.5k, there are not enough shorts to squeeze IMO. What does this mean? I am not very familiar with the technical terms... That big wall on BFX allowed the majority of the 5k shorts to be closed without moving the price significantly. Low slippage = executing an order without significantly moving the market - if the wall had not been there, executing a market buy to close those shorts would have wiped out the order book and pushed the price way higher = high slippage Hence why they were potentially a sitting duck for a short squeeze. Now that they are gone ... On the other hand it is bullish that they closed them, right? Even if we won't have such a sudden spike in price. I'm afraid those shorts were a warranty against the price going down. Shorts are btc sold for usd with the hope of buying back when price goes down, so (i could be wrong as i lack experience there) in my understanding shorts = potential buy pressure on a downtrend. Now that market went clear of those, with low slippage also, it could very well go down to squeeze longs without that added buy pressure. Weren't these shorts a speculation of a falling price? So with them closing, they actually buy new BTC and you never buy before a price you personally see as bottom i'd think. I'd treat this as bullish Yes it possible to get things upside down if you think about it too much. Closing shorts does indeed mean that coin being bought back to close them has happened. But it also means that the person shorting several thousand contracts has thrown in the towel at this level. If the price were to fall lower they would likely leave them on or buy more. It seems to me that there is no follow-through selling despite the intermittent dumps from whoever is selling. If it someone trying to move the market for profit then the closure of lots of shorts is a good thing as it may signal that the dumper feels the strategy isnt working anymore. It may be a sign we can move up now. We'll see. |
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Does anyone have any thoughts about the CFTC approving bitcoin swaps/derivatives trading?
It is my understanding that derivatives allow betting on the direction of an instrument, but do not involve buying or selling said instrument, instead being simply derived from it. Does this mean it will be used for hedging, to reduce volatility etc? Does this mean it cannot be used to push the price around? Could such derivatives soak up institutional liquidity headed directly for btc or COIN?
Is this good or bad for btc?
whoa thats not what i understood... its trading futures contracts, and options (puts and calls). this is not bets puts calls and futures are generally used to hedge ( i think ) Ah. Futures. The gold market seems fairly well cornered on COMEX by the big investment banks. Is there a good reason why they won't be able to naked short the shit out of bitcoin? |
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Does anyone have any thoughts about the CFTC approving bitcoin swaps/derivatives trading?
It is my understanding that derivatives allow betting on the direction of an instrument, but do not involve buying or selling said instrument, instead being simply derived from it. Does this mean it will be used for hedging, to reduce volatility etc? Does this mean it cannot be used to push the price around? Could such derivatives soak up institutional liquidity headed directly for btc or COIN?
Is this good or bad for btc?
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Huh, well there are some people who claim that the ETF is already priced in and people may even not be that interested in the ETF as much as everyone seems to think! If the ETF fizzles, the price will suffer even more. I for one am afraid of that ETF!
Those people are wrong. |
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i think based on the general sentiment i have seen in Speculation over the past year or so, that MANY people are overextended here.
there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...
The sentiment is likely due to people seeing bitcoin slide down 60% from peak in January. Hard to remain excited when it just drops. Not sure how you get any sense of whether people are over invested as well. |
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I just want to commend blitz on reducing the trollery on here last 24 hours..a breath of fresh air.
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And is a nod to the big boys to start pushing bitcoin around. |
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Yes but if you look at the daily chart, the chart is looking very bearish.
My sell order never filled around $500 and its scary shorting here.
It is looking bearish because someone dumped 6000 coins this morning. Actually the price hasn't moved since. |
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