Prepare for the wave

[flagpara]

Ok i know there are already lots of thread about how btc is going to go 400 or 1000$ in next weeks, but most of the time it's just people coming saying "it will" or "it won't".

Well i'm not an economist so i won't say i know, but i wish this thread will be used for people with facts and arguments, not just opinions.

I firmly believe in a near btc price rise, because of the coming halving and the black friday trend (more than 1000$ last year) and i saw something strange on cex.io:


As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

[1714659682]

1714659682

[talks_cheep]

You DO know this is a "Speculation" forum???

[flagpara]

You DO know this is a "Speculation" forum???

Yes i know, but speculation doesn't mean you have to base yourself on nothing. Speculation can be made through logic and arguments, not just what "you felt while drinking your coffee and that big revelation you had while you slept"! 

[richardsNY]

The price will just go up $10 and then go down $10. That's what we will see a lot more the comming weeks. As long as we can stay above $300 then we will surely see it go higher as the Bitcoin block halving is heading towards us.

[lumeire]

I firmly believe in a near btc price rise, because of the coming halving and the black friday trend (more than 1000$ last year) and i saw something strange on cex.io:

As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

It wont matter much, since CEX only has 0.31% ($ 101,239   ) of the market volume as per CoinMarketCap. It's too little to be significant. Of course, it's another story if you'd see the same trend in OkCoin, BitFinex, and BitStamp, which when combined has greater than a third of market volume.

[flagpara]

I firmly believe in a near btc price rise, because of the coming halving and the black friday trend (more than 1000$ last year) and i saw something strange on cex.io:

As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

It wont matter much, since CEX only has 0.31% ($ 101,239   ) of the market volume as per CoinMarketCap. It's too little to be significant. Of course, it's another story if you'd see the same trend in OkCoin, BitFinex, and BitStamp, which when combined has greater than a third of market volume.

 You see i absolutely didn't think about that. Which makes my argument rather useless indeed. Thanks for the precision!

[darkangel11]

Why should it raise on black friday? It would be more natural for it to go down since people want to buy stuff and stores accepting bitcoin don't accumulate but dump.

[Feri22]

Why should it raise on black friday? It would be more natural for it to go down since people want to buy stuff and stores accepting bitcoin don't accumulate but dump.

source?

[dloghwak]

Why should it raise on black friday? It would be more natural for it to go down since people want to buy stuff and stores accepting bitcoin don't accumulate but dump.

source?

It's already one year old but should give you the answer.
tldr: half of them go full fiat, 10% full bitcoin, remaining 40% take a mix.
https://www.cryptocoinsnews.com/more-than-4400-bitpay-merchants-keep-bitcoins/

[NorrisK]

If you are using cex.io to look at market depth, something is quite off. It is a minor exchange in bitcoin volume, so it has hardly an impact.

Look at stamp or the chinese exchanges and use those graphs, should give a much better view of how it is.

[XCASH]

As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

The number of buy orders vs sell orders is meaningless because traders who want to manipulate the market put up huge orders to try frightening everyone into buying or selling when it suits them. Those giant orders are frequently removed if the price gets close to them because they are fake orders that a manipulative trader doesn't intend to allow them to be executed.

[n691309]

-snip-
As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

Well the number of traders that put these numbers isn't always the same, the price can be pumped very fast if traders/big exchanges want to, maybe this weekend will be neutral no dump or pump.

[Mickeyb]

You DO know this is a "Speculation" forum???

Yes i know, but speculation doesn't mean you have to base yourself on nothing. Speculation can be made through logic and arguments, not just what "you felt while drinking your coffee and that big revelation you had while you slept"! 

Unfortunately, Bitcoin very often defies logic! So not to crush your analysis and reasoning, you can use all the logic of this world, but Bitcoin will still do its own thing and that will most often be what you haven't expected.

This summarizes all of my attempts to predict Bitcoin movements by using logic and analysis!

[mirana12345]

I firmly believe in a near btc price rise, because of the coming halving and the black friday trend (more than 1000$ last year) and i saw something strange on cex.io:

As you see the market depht is closing, a week before there was much more sell order than buy orders, now it's 830btc buy order vs 710 btc sell order.

It means more people want to buy than to sell, logically the prise will go up.

It wont matter much, since CEX only has 0.31% ($ 101,239   ) of the market volume as per CoinMarketCap. It's too little to be significant. Of course, it's another story if you'd see the same trend in OkCoin, BitFinex, and BitStamp, which when combined has greater than a third of market volume.

 You see i absolutely didn't think about that. Which makes my argument rather useless indeed. Thanks for the precision!

Actually you are right, just not correct in calculating overall price trend based on just cex. The thing is ; the support is rising on other exchanges like it is on cex, so
you were right. I'm just not too sure that there will be a wave, it looks far more like a small uptrend that will push price 10-15 usd up, nothing big. (for now)

[newcoins1978]

It is short term, which don't means it can last and have a new bottom at a higher price.

Accross the exchanges there are no signals for a higher peak.

[pattu1]

Actually you are right, just not correct in calculating overall price trend based on just cex. The thing is ; the support is rising on other exchanges like it is on cex, so
you were right. I'm just not too sure that there will be a wave, it looks far more like a small uptrend that will push price 10-15 usd up, nothing big. (for now)

If only predicting trends was as easy as looking at market depth, then a lot of people will make money.
Alas, nothing can be concluded about causation for the small price increase that we have seen.

[NorrisK]

Actually you are right, just not correct in calculating overall price trend based on just cex. The thing is ; the support is rising on other exchanges like it is on cex, so
you were right. I'm just not too sure that there will be a wave, it looks far more like a small uptrend that will push price 10-15 usd up, nothing big. (for now)

If only predicting trends was as easy as looking at market depth, then a lot of people will make money.
Alas, nothing can be concluded about causation for the small price increase that we have seen.

It might not be 100% sure stuff will happen, but it sure can be indicators of a price direction.

Closing gap may indeed support an increase, but it needs to be on all exchanges at the same time to have a great effect.

[crazyivan]

Black Friday s one off phenomenon, it ll push the price up but I dont think it ll keep the price at higher levels. BTC halving on the other hand, yes, this one ll push BTC price up. Cause there s no coming back once reward halves. BTC supply will be significantly diminished after that date. If demand, stays more-less the same, everybody knows what s gonna happen with the price.

[manis]

Black Friday s one off phenomenon, it ll push the price up but I dont think it ll keep the price at higher levels. BTC halving on the other hand, yes, this one ll push BTC price up. Cause there s no coming back once reward halves. BTC supply will be significantly diminished after that date. If demand, stays more-less the same, everybody knows what s gonna happen with the price.

If the market is efficient, the block reward halving should have been incorporated in the price by now.
We already are more than $100 up from where we were a couple of months back.

[Patatas]

Why should it raise on black friday? It would be more natural for it to go down since people want to buy stuff and stores accepting bitcoin don't accumulate but dump.

The OP is logically correct about the rates going up on the black friday.Since on black friday people online would want to shop using bitcoins, as you know there would be variety of merchants selling goods for cheap prices.Moreover they'll only accept bitcoins as the mode of payment(I'm speaking of btc accepting stores here).People would would like to cop these deals need btc's for which they have to buy them.This increases the demand for btc's as many users would like to keep them for the day and prices will generally go up as prices go up when there is a demand for product in the market.