Are we getting a lot of "eastern world" coverage?

[gigabytecoin]

I am a night hawk... and it seems to be that the surges in price occur during the western world's downtime... for example.. I have watched mtgox jump from 14 to 17 dollars between 1 and 4 am EST...

Could it be that we are getting a lot of coverage/press/support in the eastern world?

[1714048926]

1714048926

[benjamindees]

That's an interesting observation.

e: could be Germans?  (they all get up way too fucking early)

[gigabytecoin]

Hehe, could be!

Technically it's almost noon in Munich at the moment... so maybe it's just europeans that are pumping the price up... and not "eastern worlders".

[allinvain]

Oh noes! Zeee Germans! They're trying to take over this thing too now! Darn it

[epi 1:10,000]

Time to annex der bitcoins!

[benjamindees]

Ich bin ein Bitcoiner

[allinvain]

Alle Ihre Bitcoins sind gehören zu uns!

[jav]

Regarding Germany: There was an article about Bitcoin on "Spiegel Online" just a couple of days ago, which is one of the biggest online news sites in Germany. That's some pretty "mainstream" press coverage, even if it's 'only' online at the moment.

[wareen]

That's some pretty "mainstream" press coverage, even if it's 'only' online at the moment.

Seems you missed yesterday's "Aktuelle Stunde" on TV (WDR):

http://www.wdr.de/tv/aks/sendungsbeitraege/2011/kw22/0603/angeklickt.jsp

Might not account for the previous price jump but maybe for the next 

[stic.man]

this is probably because mtgox operates in japanese time, so when funds clear into mtgox buying starts up

[cindylove]

Ich bin ein Bitcoiner

Like

[abakus]

hi, im from germany ;-)

until now i thinkd the heavy climbing results from the us buyers... when i go to bed on 02.06.11 (around 02:00 german time) the price was about 10$ ... when i woke up it was at 13-14$ ... tonight i go to bed at 01:00 and the price was at ~14$ ... when i woke up the price was at 17$
.. or all germans buy @night :-D

[finack]

How that chart looks, it's hard not to believe that's one buyer given that the movement seems to happen at a very similar time each night. I seem to recall the same thing going on last month during the initial rally to about ~10. If it is one person, it seems to me that they're intentionally moving the market - someone who just wanted to accumulate would likely spread it out more so as to avoid paying such a premium over current ask. It's possible they analyzed things and chose that time to buy because they expect the market to be at its thinnest at that time of the night, so their money would have the most power to move the market. Given that it's impossible to to determine a price target on bitcoins based on fundamentals, it's very possible that a strategy of pushing the market up with a sharp buy and then selling throughout the day as it plateaus at a nice price could be a successful strategy.

[abakus]

trackd it a bit better that morning, the push is around 10:00-10:30 (GMT+1) .... i think it was at this time the last days too

[FreeMoney]

How that chart looks, it's hard not to believe that's one buyer given that the movement seems to happen at a very similar time each night. I seem to recall the same thing going on last month during the initial rally to about ~10. If it is one person, it seems to me that they're intentionally moving the market - someone who just wanted to accumulate would likely spread it out more so as to avoid paying such a premium over current ask. It's possible they analyzed things and chose that time to buy because they expect the market to be at its thinnest at that time of the night, so their money would have the most power to move the market. Given that it's impossible to to determine a price target on bitcoins based on fundamentals, it's very possible that a strategy of pushing the market up with a sharp buy and then selling throughout the day as it plateaus at a nice price could be a successful strategy.

Could be, but that is exactly equivalent to saying that they wait until their money will get them the least.