Because it is pegged to Bitcoin (loosely) by bots at BTCe and it already rallied alongside BTC this year. How do I know this? I traded LTC all summer. I would expect all coins traded on major exchanges (stamp, BTCe, Finex OKcoin) to gain value in a Bitcoin bull market.

Haha you guys are funny. The whales have been marching the price up for 24 hours, little by little. It's the same action we saw before the rally to $315.

Bitcoin has the most secure and time-tested blockchain. To new businesses, Bitcoin is the only crypto worth using. It is the reason Medici is using Counterparty. One can argue the virtue of other cryptos, but they are all theoretical unless they see actual adoption and move beyond their initial development phase. XCP would not be close to where it is today without Bitcoin. It's a good thing that XCP doesn't use it's own blockchain as I've seen dozens of cryptos fizzle away, and when they do, their mining network follows.

Halving will be priced in long before it actually happens.

"Successful tape reading is a study of Force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side. There are critical points which occur in each swing, just as in the life of a business or individual. At these junctures it seems as though a feather’s weight on either side would determine the immediate trend. Anyone who can spot these points has much to win and little to lose."

Richard Wyckoff - Studies in Tape Reading

I remember the drop from $266 to $60, then the drop to $60 again, then the drop from $1200 to $380 then the drop to $275, then to $160. Each one was panic-ridden and trolls were calling for the end of the Bitcoin and practically begging everyone to sell. Of course they're know-nothing puppets or just idiots who are not worth listening to, because every time the market rebounds and proves them wrong.

One thing for sure is that as long as there is profit to be made and the underlying fundamental is not completely fucked (Bitcoin is far from this) the behavior of the market doesn't change. What goes down must come up (and vice versa) every time in every market ever. No, it is not different this time. In fact, I have a sign hanging above my monitor that says NO, IT IS NOT DIFFERENT THIS TIME. It has saved me multiple times from making stupid trades.

They're the ones who probably started it, and it was probably a couple hundred coin dump that got inflated by the bots (that seems to be their job if you watch them). When Finex doesn't have enough volume to move the price, they just follow China. There must be some arbitrage channel there because the orderbooks at Huobi, BTChina and OKcoin are lol compared to the volume.

Might have to wait until tomorrow night--at these prices market makers love to mark the price up just before fiat deposits go though.

I'm long too but I trade on daily candles. Anything below 6h/4h is noise to me. The way I see it we're moving into oversold territory on the oscillators on declining sell volume with narrower candle spreads... the current daily candle has a decent wick pointing downward, indicating that the market absorbed anything in that range... even the 3d candle is turning into a no supply candle, pretty pathetic for bears. I think the markets have simply ground to a halt. Last selloff was meh. Noob/bad trader/gambler shorts have increased to 20k thinking we'll retest $200 when in reality there is almost nobody left to sell. Perfect opportunity for a pump.

Seems China still has some weak hands... They dump like 200 coins and Finex follows with 1500. I wonder how that's even remotely profitable unless they're just selling into their own buy walls. Maybe arbitraging somewhere, the futures market?

Better sell all then mmitech... I don't even have to unignore you to know what you're going on about again.

You are correct of course, the but reason is simpler. It's because when presented with crisis or opportunity, people behave in predictable patterns.

Nobody knows. Historically the despair phase has been the time to buy in the past, when the price is relatively low.

Who knows though. Use your best judgement.

After Huobi went down recently they came back up without the wash volume bots for awhile. It was pretty pathetic.

Nice. Long here too. I trade on larger timeframes so small swings generally don't spook me.

This is the relevant story. Buying has been picking up since a few hours ago...

Let me guess, you're short.

Just flew through the regs, they look pretty good. They softened up on the foreign transactions, now it's "due diligence" by the licensee. AML seems to be improved too, requiring the licensee to do it themselves. Not 100% about that one.

On a daily chart, Early on in B or entering C, too soon to tell. My gut says we are at "ST" which stands for secondary test, and happens on lower volume than the SC (selling climax). The ST doesn't always have to retest the very lows, it's simply a demand point. There is a revised version of this with rising bottoms too, so that is also a possibility and very bullish if it plays out.

This is an example of an accumulation range, where the lows (and highs) get constantly tested, weeding out available supply as sold to strong hands. The volume should expand as we approach the top of the range, and contract as we approach the bottom. Toward the end of the range volume will continue to peter out as the market endures a series of tests, and if they pass the price goes up fairly easily because there is literally nothing left to sell into rallies (which is what stops them in the first place). This indicates that the market makers are bullish, and so should you be

Support has held nicely with multiple tests of $220 on low volume, indicating there is not enough supply to push us down at this price level. The last range like this from Oct/Nov/Dec that I traded retested the lows a couple times before completely breaking down on Stamp hack news, so we'll likely need something like that to push us sub-$200.

I'm thinking something like this... these play out all the time on every timescale. So, no sub $200.