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Nimbulan
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October 29, 2015, 06:46:57 PM |
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we are back to 310 it did not take a lot of time for it to happen unfortunately people started selling as crazy
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richardsNY
Legendary
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Activity: 1232
Merit: 1091
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October 29, 2015, 06:50:01 PM |
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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. |
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Junko
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Activity: 1512
Merit: 1000
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October 29, 2015, 06:54:34 PM |
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FOMO
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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October 29, 2015, 07:04:39 PM |
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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. |
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MissionPhailed
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October 29, 2015, 07:14:09 PM |
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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 ... ?
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cjrosero
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October 29, 2015, 07:40:51 PM |
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lot of people in china joined MMM they are buying all bitcoin!
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NorrisK
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Activity: 1946
Merit: 1007
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October 29, 2015, 07:54:30 PM |
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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. |
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toptek
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Activity: 1274
Merit: 1000
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October 29, 2015, 07:57:02 PM |
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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. |
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cjrosero
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October 29, 2015, 08:08:21 PM |
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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 |
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Hyena
Legendary
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Activity: 2114
Merit: 1013
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October 29, 2015, 08:13:38 PM |
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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? |
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apriyani420
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October 29, 2015, 08:42:03 PM |
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it isnt on 320 dollars anymore though most probably it will get back tomorrow lets hope that we are going to the moon
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randy8777
Legendary
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Activity: 896
Merit: 1000
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October 29, 2015, 09:06:26 PM |
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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. |
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spazzdla
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Activity: 1722
Merit: 1000
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October 29, 2015, 09:45:46 PM |
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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. Not the same concept but.. buy the dip |
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disclaimer201
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Activity: 1526
Merit: 1001
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October 29, 2015, 11:05:38 PM |
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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. |
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spiderbrain
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Activity: 889
Merit: 1013
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October 29, 2015, 11:12:49 PM |
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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-countryBitcoin's market cap is currently $4.5 Billion, so nowhere near "at lot" of money has gone anywhere near it yet! |
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Febo
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Activity: 2730
Merit: 1288
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October 29, 2015, 11:23:27 PM |
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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. |
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greatr
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October 30, 2015, 12:28:25 AM |
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it was just a small spike i believe as the price is much smaller right now
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kokojie
Legendary
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Activity: 1806
Merit: 1003
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October 30, 2015, 02:16:44 AM |
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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.
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btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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teddy5145
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October 30, 2015, 02:25:56 AM |
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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 |
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talks_cheep
Legendary
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Activity: 1036
Merit: 1000
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October 30, 2015, 02:30:29 AM |
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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-countryBitcoin'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. |
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