what the heck triggered that spike?

[paulie_w]

and there it was, boom!

what happened?

[ElectricMucus]

2nd part of the wordpress rally. The bulk waited for the right trigger to buy after they wired their cash to mtgox.
Sheeple, herding and such.  That was well expected.

What triggered it, at this point in time? Probably what Mister M. had last breakfast.

[GeoRW]

we are nearing the reward halving, expect high volatility; spikes and crashes

[vokain]

we are nearing the reward halving, expect high volatility; spikes and crashes

good.

[naima53]

boom. Just boom .. 

[Yuhfhrh]

People were getting hungry for thanksgiving! Happy thanksgiving everyone!  

[elux]

and there it was, boom!

what happened?

Someone bought ~36K BTC. In one big bite. (More than 420000 USD worth.)

[vokain]

and there it was, boom!

what happened?

Someone bought ~36K BTC. In one big bite. (More than 420000 USD worth.)

That's unprecedented, one person? squeezing whatever bears we had, wassup mr. m. up we go.

[cypherdoc]

 

[elux]

That's unprecedented, one person? squeezing whatever bears we had, wassup mr. m. up we go.

It tends to happen when a lot of funds hit Mt.Gox all at once. (Waiting bids get filled in.)

It's either that... or... a big blue bitcoin monster...

[deeplink]

That's unprecedented, one person? squeezing whatever bears we had, wassup mr. m. up we go.

He may have made the best investment of his life.

[n8rwJeTt8TrrLKPa55eU]

That's unprecedented, one person? squeezing whatever bears we had, wassup mr. m. up we go.

He may have made the best investment of his life.

For people on a cost averaging purchase plan like myself, it's psychologically very difficult to buy on spike days like today.  I hate paying up.

And yet, I look at the trend in news during the past few days: Wordpress, Spain banning cash transactions over €2500, etc.

And I press the buy button.  With urgency.

$12.15, still a bargain.

[Frequency]

That's unprecedented, one person? squeezing whatever bears we had, wassup mr. m. up we go.

He may have made the best investment of his life.

For people on a cost averaging purchase plan like myself, it's psychologically very difficult to buy on spike days like today.  I hate paying up.

And yet, I look at the trend in news during the past few days: Wordpress, Spain banning cash transactions over €2500, etc.

And I press the buy button.  With urgency.

$12.15, still a bargain.

Yuuuuuuup and don,t forget Paypal is digging there own grave to.....

[genuise]

and there it was, boom!

what happened?

Someone bought ~36K BTC. In one big bite. (More than 420000 USD worth.)

wrong - no more than 15K... check the data

[imanikin]

and there it was, boom!

what happened?

i think it's just the latest pump and dump.

[klaus]

wrong - no more than 15K... check the data

i think he took 2 days and 12 hours time period.

so youre both right.

[kokojie]

and there it was, boom!

what happened?

Someone bought ~36K BTC. In one big bite. (More than 420000 USD worth.)

For someone to buy 36k BTC, then that means some other people sold 36k BTC. The reason for price to rise is buyers out number sellers. A trade for 36k BTC doesn't mean anything, could happen in a crash too.

[naima53]

\....\The reason for price to rise is buyers out number sellers. \....\

THIS!

[genuise]

just small illustration of the events discussed.

[elux]

wrong - no more than 15K... check the data

Weird. Clark Moody did indicate 30K volume from ~11.7 to 12.00.
And 5-6K more up from ~12.00 up to 12.10 some minutes later.

Anyhow. It looks like I was quite wrong. I humbly submit to the data and offer my apology.

What sorcery is this? I don't think I've seen this tool before.