320$ , what the hell is going on ?

[OmegaStarScream]

It's something ~320$ according to preev.com , 321$ at Bitfinex as-well .

I'm not saying it's bad but I'd like to know what the hell is going on here , please don't tell me it's halving because I'm more then sure it's not , why would people agree ot start buying in same period of time in the first place ? that wouldn't make sense .

I thought it's because of the ransom story when that billionaire got kidnapped ( http://cointelegraph.com/news/115502/taiwanese-kidnappers-receive-168m-bitcoin-ransom-from-billionaire-yuk-kwan )  , however the BTC's has been bought and they gave them to the kidnappers I suppose ? so I'm not sure why the price keep rising ...

[1715648840]

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[traderbit]

I was watching the price in coindesk chart and it jumped to 320 in Bitfinex.
I really don't know what is happening, someone is saying that china has started to buy bitcoins.
If we look 1 month from now we see that the diference is about $90 - $100

[monkeydong1]

Isn't it so convenient that the rise we are seeing fell just before the last silk road auction batch of btc up for sale very soon ?


It does not seem like a coincidence.  

[Enjorlas]

It's called greed. People haven't sold yet because momentum is still strong. People are playing with fire here.

[zcxvbs]

I don't know either, MMM brings some buy orders? Or it's because the Blockchain technology is catching more and more attentions?

[NorrisK]

Isn't it so convenient that the rise we are seeing fell just before the last silk road auction batch of btc up for sale very soon ?


It does not seem like a coincidence.  

That's some serious conspiracy theory you have the! Feds drive up price, get more money and hold same amount of bitcoin as in the beginning. Rinse and repeat, only this time the coins were only bought by them instead of being taken

[Paashaas]

I thought we're getting a decent correction from $300 back to $250+ but $320...my jaw dropped when i saw that price.

[Nobitcoin]

What the hell is going on with the Chinese people must have a lot of dirty money to clean. Totally amazed and astounded by the price increase.

[thejaytiesto]

It's simple. On the back of their minds everyone with a minimum of grey matter on their brain know that Bitcoin will be insanely huge in the future. What does this present us? Well, what we see: An scenario where everyone is waiting for the next guy to make a move. They are all afraid to be the first that buys. Once someone starts buying, everyone else starts buying. We'll see morons dumping their cheap coins along the way. Already happened, just look at the graph and look for the long red lines. Yet we still going up.

[2pak]

they are panic buying in bitcoin now   let see until where the deep hell will go on. see you in $350  

[OmegaStarScream]

The manipulation level is so fucking high here lol , It just went to 312$ according to preev.com (minuts after making this thread)

[Alley]

The simplist answer is usually the correct one.  Adoption is outpacing selling pressure.

[Mickeyb]

It's something ~320$ according to preev.com , 321$ at Bitfinex as-well .

I'm not saying it's bad but I'd like to know what the hell is going on here , please don't tell me it's halving because I'm more then sure it's not , why would people agree ot start buying in same period of time in the first place ? that wouldn't make sense .

I thought it's because of the ransom story when that billionaire got kidnapped ( http://cointelegraph.com/news/115502/taiwanese-kidnappers-receive-168m-bitcoin-ransom-from-billionaire-yuk-kwan )  , however the BTC's has been bought and they gave them to the kidnappers I suppose ? so I'm not sure why the price keep rising ...

Last week or so, I tried not to get to excited. I kept repeating that $300 is a huge obstacle and that it will depend how we will handle that. Also I was saying that if we break $300 and get to $315 while not dropping like a rock that this might be a real deal.

Well I am declaring now, this is a real freaking deal. This is getting out of control. It's climbing steady for days! I can't believe this, we have completely reversed the trend!

P.S. It's not a ransom thing, that's not nearly enough of bitcoins to get things going like this!

[DieJohnny]

don't you think this thread has an identical twin from Nov 2013?

[rocks]

The comments here remind me of the comments from late 2012 when the price started to go past $10 and $15 for the first time in almost 2 years. So many people wondering why the price was rising "so high" and the traders "sold knowing they can by again lower" only the watch the price never come back down.

This looks just like that ramp to me. We've seen this before. Only a fool would sell their BTC now to have a chance to re-buy at $250 for a gain 25%, while risking BTC running away and missing a 1000% ramp.

[btcfinans]

What is going on? BTC price up

Who? Chinese people buy



Why? I don't know exactly why (capital restricitions? ...)

Chinese population is more than 1.4 billion, just can't wait Bitcoin fervour goes viral out there 

[UnDerDoG81]

War is coming, people try to safe their money.

[denam]

Bitcoin is going to moon so $350+ will be base price before end of current month.

[Denker]

The manipulation level is so fucking high here lol , It just went to 312$ according to preev.com (minuts after making this thread)

Yes I expected that to happen.$320 was the limit for today.Now let's hope we don't correct too much.

[dothebeats]

don't you think this thread has an identical twin from Nov 2013?

The same feeling and the same amazement on the price. Looks like we have much more to see after this run-up in price. I was expecting a drop to $305 but still we're hovering over $310.

The price increase has stopped a bit. Maybe the rocket needs to refuel for a moment.

[Nimbulan]

we are back to 310 it did not take a lot of time for it to happen unfortunately people started selling as crazy

[richardsNY]

we are back to 310 it did not take a lot of time for it to happen unfortunately people started selling as crazy

People sell because they probably made themself a decent profit in just a month or two. The sooner they sell, the sooner we can move further. We need to build a strong support at current levels to not see the price get dumped down so easy.

[Junko]

FOMO

[zimmah]

It's called greed. People haven't sold yet because momentum is still strong. People are playing with fire here.

lol, are you sure? Selling is pretty risky right now.

This might be fun to quote later btw.

[MissionPhailed]

Does BTC-e always 'lag' behind like this? Barely over $300 at the moment ... ! But this aside, the price is rising much faster then I expected. On towards $400 in november ... ?

[cjrosero]

lot of people in china joined MMM they are buying all bitcoin!

[NorrisK]

Does BTC-e always 'lag' behind like this? Barely over $300 at the moment ... ! But this aside, the price is rising much faster then I expected. On towards $400 in november ... ?

It always does. Also, a massive LTC spike (0.0096 to 0.0122) happened during the past hours which usually sucks volume and money away from bitcoin.

It has been lagging behind the other exchanges by around 8 usd mostly.

[toptek]

I don't know either, MMM brings some buy orders? Or it's because the Blockchain technology is catching more and more attentions?

That's why . it is finally breaking ground it can stop at any time but the 300 ranges to me is the test.

[cjrosero]

I don't know either, MMM brings some buy orders? Or it's because the Blockchain technology is catching more and more attentions?

That's why . it is finally breaking ground it can stop at any time but the 300 ranges to me is the test.

im 100% sure its MMM im a part of it i know how it works and why they are soo attach to it. but sooner or later MMM will surely collapse

[Hyena]

Isn't it so convenient that the rise we are seeing fell just before the last silk road auction batch of btc up for sale very soon ?


It does not seem like a coincidence.  

That's some serious conspiracy theory you have the! Feds drive up price, get more money and hold same amount of bitcoin as in the beginning. Rinse and repeat, only this time the coins were only bought by them instead of being taken

I suspected the same. What a strange coincidence. When is that auction held anyway?

[apriyani420]

it isnt on 320 dollars anymore though most probably it will get back tomorrow lets hope that we are going to the moon

[randy8777]

it isnt on 320 dollars anymore though most probably it will get back tomorrow lets hope that we are going to the moon

it's two steps foward, and one step back, and then again two steps forward with the current sentiment. i hope china will continue with pumping hard as they have been doing for the last few weeks.

[spazzdla]

it isnt on 320 dollars anymore though most probably it will get back tomorrow lets hope that we are going to the moon

it's two steps foward, and one step back, and then again two steps forward with the current sentiment. i hope china will continue with pumping hard as they have been doing for the last few weeks.

https://www.youtube.com/watch?v=0akBdQa55b4

Not the same concept but.. buy the dip

[disclaimer201]

Isn't it so convenient that the rise we are seeing fell just before the last silk road auction batch of btc up for sale very soon ?


It does not seem like a coincidence.  

That's some serious conspiracy theory you have the! Feds drive up price, get more money and hold same amount of bitcoin as in the beginning. Rinse and repeat, only this time the coins were only bought by them instead of being taken

I suspected the same. What a strange coincidence. When is that auction held anyway?

Auction will be held next thursday, on November 5th. I doubt it will have direct effects on this cute little rally here. But it's a pump for sure and someone BIG will likely cash out is my guess. Buy back in lower, rinse and repeat. Not a good time for speculation, but if the price stays at this level I will likely buy a bitcoin anyway, if it tanks I will buy more. Selling is out of the question.

[spiderbrain]

What the hell is going on with the Chinese people must have a lot of dirty money to clean. Totally amazed and astounded by the price increase.

There has been something like US$15 trillion of new money created in China over the last 8 years through easy credit and government money printing. They have recent introduced more extreme capital controls making it really hard to move money out of the country, while at the same time deliberated attempting to devalue the yuan to get their exports back up, making people really want to get their money out.
http://www.bloomberg.com/news/articles/2015-05-07/china-s-capital-outflow-hot-money-cools-on-the-country

Bitcoin's market cap is currently $4.5 Billion, so nowhere near "at lot" of money has gone anywhere near it yet!

[Febo]

What is going on? BTC price up

Who? Chinese people buy



Why? I don't know exactly why (capital restricitions? ...)

Chinese population is more than 1.4 billion, just can't wait Bitcoin fervour goes viral out there 

There was many times that there was more then 95% all transactions on chinese exchanges. So volume is not really some legit thing to see what is going on. If there is no fees you can buy your own BTC all day long.

I am not saying chinese people are driving price up. It was expected.

[greatr]

it was just a small spike i believe as the price is much smaller right now

[kokojie]

It actually is probably due to the halving, the last run up started 6 months before the 1st halving. I don't see why it should be different this time. Decreasing daily money creation by 50% is a HUGE deal.

[teddy5145]

It actually is probably due to the halving, the last run up started 6 months before the 1st halving. I don't see why it should be different this time. Decreasing daily money creation by 50% is a HUGE deal.

Don't you think the effect of halving is still too soon
I expect for the price to rise on february not on october
Maybe this is just price manipulation

it was just a small spike i believe as the price is much smaller right now

It is not a spike, the price has been increasing rapidly this few weeks,something is causing this

[talks_cheep]

What the hell is going on with the Chinese people must have a lot of dirty money to clean. Totally amazed and astounded by the price increase.

There has been something like US$15 trillion of new money created in China over the last 8 years through easy credit and government money printing. They have recent introduced more extreme capital controls making it really hard to move money out of the country, while at the same time deliberated attempting to devalue the yuan to get their exports back up, making people really want to get their money out.
http://www.bloomberg.com/news/articles/2015-05-07/china-s-capital-outflow-hot-money-cools-on-the-country

Bitcoin's market cap is currently $4.5 Billion, so nowhere near "at lot" of money has gone anywhere near it yet!

spiderbrain is correct. Btc halving is 9 months away, too far to have any impact at this point. If the last halving in late 2012 is an indication, market priced it about 5-6 months prior to the actual halving event. I expect the same thing will happen; market will start anticipating the halving early next year, probably February-March'2016. It's too early for halving to have any effect.

Remember the last bubble in late 2013? It was all driven by China. This recent rise in price is also all driven by China, for all the reasons given by spiderbrain above.

[kokojie]

It actually is probably due to the halving, the last run up started 6 months before the 1st halving. I don't see why it should be different this time. Decreasing daily money creation by 50% is a HUGE deal.

Don't you think the effect of halving is still too soon
I expect for the price to rise on february not on october
Maybe this is just price manipulation

it was just a small spike i believe as the price is much smaller right now

It is not a spike, the price has been increasing rapidly this few weeks,something is causing this

In the last round, prices started to rise significantly 6 months before the halving (from around $5 to around $12). Though, yes you are correct, the majority of the rise happened after the halving.

[Cereberus]

It is called the Reckoning. What we have been waiting all this time for When all the holder's dreams come to fruition.
Let us who hold the coins bask it all it's glory. For a short time anyways.. until the dump happens 

[chesthing]

It is called the Reckoning. What we have been waiting all this time for When all the holder's dreams come to fruition.
Let us who hold the coins bask it all it's glory. For a short time anyways.. until the dump happens 

Ah, yes - the dump. The only thing guaranteed in crypto

[XCASH]

It is called the Reckoning. What we have been waiting all this time for When all the holder's dreams come to fruition.
Let us who hold the coins bask it all it's glory. For a short time anyways.. until the dump happens 

Ah, yes - the dump. The only thing guaranteed in crypto

There is a cointelegraph article that suggests Bitcoin is either headed to the moon or due for a big blowoff top where everyone dumps it back down to the pits of hell. I'm in two minds myself as to what will happen. The last weeks growth has been too fast for my liking, but so was the 2013 pump and that went far higher than I expected.

http://cointelegraph.com/news/115499/bitcoin-price-tops-300-to-the-moon-or-blowoff-top-forming

[Hugroll]

it feels good to see bitcoin above 300 again, i just hope everyone doesnt decide to dump at around 350, that'll drive the price back down to like 220. lets just hope the pattern continues and people dont dump

[BitcoinNewsMagazine]

On daily Bitstamp bitcoin price chart 50 day SMA crossed 200 SMA (Golden Cross) while on the weekly chart price has been holding nicely above 200 week SMA. Looks like a confirmed bull market to me.

[CasioK]

It is called the Reckoning. What we have been waiting all this time for When all the holder's dreams come to fruition.
Let us who hold the coins bask it all it's glory. For a short time anyways.. until the dump happens 

Ah, yes - the dump. The only thing guaranteed in crypto

There is a cointelegraph article that suggests Bitcoin is either headed to the moon or due for a big blowoff top where everyone dumps it back down to the pits of hell. I'm in two minds myself as to what will happen. The last weeks growth has been too fast for my liking, but so was the 2013 pump and that went far higher than I expected.

http://cointelegraph.com/news/115499/bitcoin-price-tops-300-to-the-moon-or-blowoff-top-forming

But heading towards moon with the reason of halving or tax free in some countries would be a steady moving. But we witness a roller coaster types of rally now going on. I fear to buy or hold now. Last August same thing happened with Litecoin.

[nigttran]

BTC just hit 324$.
Chinese buy BTC to send out their country.

[hasiramasenju]

last time i saw the bitcoin price yesterday still only $313 but now just hit to $327 and i'm really don't know why the price is moving too fast
but probably this is only parts from the pumpers

[disclaimer201]

PANIC BUYING is going on! Positive news from Europe, positive news from China, negative news from Russia (noone cares) and halfing is half a year or so away.

[OmegaStarScream]

last time i saw the bitcoin price yesterday still only $313 but now just hit to $327 and i'm really don't know why the price is moving too fast
but probably this is only parts from the pumpers

It seems like it just reached 334$ , what the ...

[tvbcof]

It's something ~320$ according to preev.com , 321$ at Bitfinex as-well .

I'm not saying it's bad but I'd like to know what the hell is going on here , please don't tell me it's halving because I'm more then sure it's not , why would people agree ot start buying in same period of time in the first place ? that wouldn't make sense .

...

My guess is that the damage from the XT attack and Hearn's hostile takeover attempt is fading which has released some built up tension.  Also the potential future scaling problems have been nicely addressed with a fairly promising implementation of subordinate chains via the Blockstream guys.  The future looks as bright as I've seen yet.

[dothebeats]

last time i saw the bitcoin price yesterday still only $313 but now just hit to $327 and i'm really don't know why the price is moving too fast
but probably this is only parts from the pumpers

It seems like it just reached 334$ , what the ...

Ask China and permabulls who already accumulated enough coins to push this thing harder. Will we see $350  today? Resistance seemwd to be strong at $325 check the books.

[NorrisK]

It's something ~320$ according to preev.com , 321$ at Bitfinex as-well .

I'm not saying it's bad but I'd like to know what the hell is going on here , please don't tell me it's halving because I'm more then sure it's not , why would people agree ot start buying in same period of time in the first place ? that wouldn't make sense .

...

My guess is that the damage from the XT attack and Hearn's hostile takeover attempt is fading which has released some built up tension.  Also the potential future scaling problems have been nicely addressed with a fairly promising implementation of subordinate chains via the Blockstream guys.  The future looks as bright as I've seen yet.

Agreed. The debate had almost died out here on the forums. Maybe a thread or 2 a day, compared to 10 an hour a month or two ago.

All the pieces seem to be falling together, but I still think a correction due to profit taking is going to take place soon. And some big shorters may try to manipulate it down as well to reduce their losses from trades set 20 USD ago.

[coinplus]

PANIC BUYING is going on! Positive news from Europe, positive news from China, negative news from Russia (noone cares) and halfing is half a year or so away.

panic buying is good rather than planning for dumping. The news behind are good enough for making people to consider the buying of bitcoin. May be that initial push wave get multiplied into a strong wave. I believe soon we will see higher prices like $500 or $600.

[mmortal03]

It actually is probably due to the halving, the last run up started 6 months before the 1st halving. I don't see why it should be different this time. Decreasing daily money creation by 50% is a HUGE deal.

The halving is over 8 months away, though.

[jaredboice]

It actually is probably due to the halving, the last run up started 6 months before the 1st halving. I don't see why it should be different this time. Decreasing daily money creation by 50% is a HUGE deal.

The halving is over 8 months away, though.

What's this halving you speak of?

Don't you mean, "The Halvening?"

 

[makingwin1]

the price will most probably not grow too much more

[gentlemand]

the price will most probably not grow too much more

Give us compelling reasons rather than leaving us hanging with your dramatic pronouncements.

[Nimbulan]

the price will most probably not grow too much more

Give us compelling reasons rather than leaving us hanging with your dramatic pronouncements.

The bubbles are common in economy, no matter about what we would be talking. Price rapidly grows and usually after some time goes down. Nevertheless,  let's egoistically think that the price of BTC will slowly grow or stabilise.

[cakir]

Some big whales are pumping the price before the november. Don't forget to make money on the bull run

[jackg]

I am getting to the slow recognition that after next June, the price of bitcoin will pass the £1000 mark (Which it has never done before!).

There may be other bugs along the way but they may not affect the price as much as the TX bug. (which forced the price to fall by £60 in a night!). Was on preev before for about 10 minutes and saw a peak or £210)

[BitcoinNewsMagazine]

No one is able to see the future and know for certain what the price of bitcoin will be next summer. It takes time for confidence to be restored and memory to fade after the bear market of 2014.

[lumeire]

the price will most probably not grow too much more

Give us compelling reasons rather than leaving us hanging with your dramatic pronouncements.

The bubbles are common in economy, no matter about what we would be talking. Price rapidly grows and usually after some time goes down. Nevertheless,  let's egoistically think that the price of BTC will slowly grow or stabilise.

No matter how many bubbles we have with the price of bitcoin, btc is here to stay.

Remember the late 90's and early 2000s bubble on the stocks of internet companies? While some of these companies are gone by now, some are still alive and kicking, they're values have even grown over time.

[crazyivan]

Chinese and their capital controls. A very slippery ground to build BTC price growth on. This means this BTC price jump might just be part of a speculating trend.

[dothebeats]

Chinese and their capital controls. A very slippery ground to build BTC price growth on. This means this BTC price jump might just be part of a speculating trend.

The impending capital controls seemed to push Chinese to convert their devaluing yuan into bitcoin. Imagine how many people there is in China and even a hundredth of their population that convert into bitcoin would surely make an impact.

[lexuz]

Chinese and their capital controls. A very slippery ground to build BTC price growth on. This means this BTC price jump might just be part of a speculating trend.

maybe prince will come strong after this year and i think we never see again bitcoin price drop much again

[randy8777]

Chinese and their capital controls. A very slippery ground to build BTC price growth on. This means this BTC price jump might just be part of a speculating trend.

maybe prince will come strong after this year and i think we never see again bitcoin price drop much again

with bitcoin i have learned to never take things for granted. if you think it can't go lower anymore, then it will go lower. the market is too volatile to think it won't drop a lot at some point.

[Cereberus]

it feels good to see bitcoin above 300 again, i just hope everyone doesnt decide to dump at around 350, that'll drive the price back down to like 220. lets just hope the pattern continues and people dont dump

Actually I approve of the dump. I want it to drop down to 220 like you say so I can buy again 

[Cereberus]

Chinese and their capital controls. A very slippery ground to build BTC price growth on. This means this BTC price jump might just be part of a speculating trend.

maybe prince will come strong after this year and i think we never see again bitcoin price drop much again

with bitcoin i have learned to never take things for granted. if you think it can't go lower anymore, then it will go lower. the market is too volatile to think it won't drop a lot at some point.

Thanks for letting us know this, it gives me faith in knowing I can buy more. Just need to wait a bit longer and don't give in now at 377.

[Hugroll]

oh god, i read the title and got so scared . bitcoin was high 390s in the morning how could it drop to 320, then i checked preev and its at like 380 right now so were fine  . just hope it doesnt drop any lower tho.

[Miracal]

I was watching the price in coindesk chart and it jumped to 320 in Bitfinex.
I really don't know what is happening, someone is saying that china has started to buy bitcoins.
If we look 1 month from now we see that the diference is about $90 - $100

People need to sell now. At least a significant portion from their total. Or we might see a steady slump here. Fingers crossed it does not happen i hope.

[JP Morgan]

People need to sell now. At least a significant portion from their total. Or we might see a steady slump here. Fingers crossed it does not happen i hope.

If you do not believe bitcoin and just want to make profit from trading, then it is OK to sell now. Otherwise, it is better to hold some coins.

[jackg]

CHRISTMAS is going on.
The economy getting more money, meaning that the investors want to purchase more finantial gain: Bitcoin would be an example of ONE of their inevestments. Also, companies offering services for Bitcoin would increase in price!