This rally is certainly being fueled by a lack of supply on exchanges rather than any particularly strong demand/volume on the exchanges. If you were to see this type of depth/volume last year, it would be a joke and you'd know for sure a crash was coming. However the system is different now. It remains to be determined whether this is simply due to us holding or whether its due to large acculumation off-exchange by hedge funds, businesses, and such. With all those bit coin days destroyed one could theorize a huge purchase of XXX,XXX coins occurred by fortress or something which averted an entire bear market worth of coins on exchanges. However, there is no proof and nobody knows for sure. It could all be psychology and a self fulfilling prophecy.

Well will it count if I'm there only with my current position?

I'm not quite comfortable buying right away at the current level after such a fast rise and buying while everything is just peachy Isnt usually my strategy  . There is probably going to be a drop at least back to the current level at some point. Look at the order books now. I suppose there is some small chance I'll still get burnt again, but I'll still at least have the 60% position.

Omg what kind of witchcraft is this? I went on vacation for 4 days with no internet during what was supposed to be the least volatile time in bitcoin and I come back and the price has floated up $200 on no volume. Looks like everyone unanimously decided to pull their sell orders/bots and there are no coins for sale!

OK whoever asked me when I would admit I was wrong, this is it. The May patterning seems clearly broken. Looks like I've been badly burnt on the 40% part of the 60/40 position I left myself in. I give up with TA and bit coin - the exchange system is too decentralized now for that.

There's that final surge to 900 I predicted. Now I'll see u guys at 600-.

Are you guys rushing to finish this up leg? Because its the last leg (maybe second last) before capitulation begins. I'm not ready for that so let's just chill.

Gox volume: 5267
Stamp volume: 7494

How can you conclude that there is a "wall up" or anything like that with such low volumes? Of course it's not going anywhere with such low volume.

Any idea why all the alts are on the moon right now?

Chinese are the best ping pong players.

I wonder if these same arguments about low volume were used in May.

Why are you counting in fiat? The supply of bitcoins stays the same regardless of fiat price. By your logic, when btc was trading at $0.1 then a comparible dump would be 50 million bitcoins, and that many dont even exist. Then also by your logic, once btc is trading at $100,000, we can say "look 50 bitcoins were dumped. the price is supported". lol

50K was dumped in May. At the time, the order books were so deep that the dump only brought the price from $127 to $118 - only 9% slippage, and then the month long downtrend began. Now look at our current order books - even if you combine mtgox and bitstamp - the same dump would reduce the price to $450, a 45% drop... Think about that for a moment. Bid support my ass.

You guys have forgotten how even the title of this very thread was created.

What a sad story. My Bitstamp withdrawals have been working just fine. Where is this guy selling the half price bitcoins? I would like to meet go meet him.

These are not deep books or 'big walls' either - these are thin. Even if you combined bitstamp and mtgox, if you were to see books this thin any time before October, you would know for sure that a drop was coming. But now we are in some new paradigm of thinking where we don't need deep books and the majority of the volume is done in offline whale transactions and in China. Meanwhile there is no real proof of exactly how much this is occuring.

You're all so sure of yourselves as if your optimisms are facts. Meanwhile the whales could feel like they are playing Jenga with btc and it is a big stalemate.

Lets revisit this once there is a 50k dump.

That wasn't a whale. That was a baby shark. THIS is a whale. Half of that red volume bar represents a single dump of ~50K btc. This is the whale that ended the weak uptrend in May.

Oh my good the bulls have drank mana potion and grown giant flaming horns. $100,000 in August folks...

I think you have the wrong impression of deep pockets. These days, $100K investments come from your average forum user who has been around for a couple ralles, and you can often make a $100k investment easily by buying from a single person's order on Bitfinex.. A deep pocket in wall street is probably looking to allocate $10-$100M...  

I thought about requesting this as well as it would seem like a useful service. The biggest problem would be all the exchanges are at different rates so the orderbook would be crossed and difficult to interpret, especially with the outlier exchanges like mtgox and china.

Also, some of the exchanges don't list their entire order book but only the orders within $10 or so (like btce and huobi).

Then you have to decide which charts have false/irrelevant data and and excluded, like localbitcoins which shows 500,000btc walls. I think the other day I saw that a total of 5 million btc wanted to be around $1,000.

I'm asking what the money in the fund is used for.  It might either be used for buying btc or for investing in bitcoin-based businesses.

The deposit lag I'm referring to is not neccessarily from Fortress itself but from btc traders "buying the news".