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Author Topic: Whats with the $19 barrier  (Read 3749 times)
The Koolio
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June 07, 2011, 05:25:19 PM
 #1

http://mtgoxlive.bco.in/orders

Why isnt the value going over $19, there seems to be a weird invisible barrier, and this I think is counter arguing the thoughts of some that itll hit $100 soon... it cant even hit $20!

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Jaime Frontero
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June 07, 2011, 05:27:06 PM
 #2

yeah.  irritating, innit it?  oh well - patience.  spend some bitcoin.

love the edison quote, BTW.
The Koolio
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June 07, 2011, 05:28:46 PM
 #3

yeah.  irritating, innit it?  oh well - patience.  spend some bitcoin.

love the edison quote, BTW.

Yeah I thought so too, im a bit of a quote whore lol!

I need the price to go up as I need to pay off my $7500 server thats coming this week lol

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Babylon
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June 07, 2011, 05:30:18 PM
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The price has skyrocketed within the past few months, prior to that it usually grew at a much slower rate. I wouldn't be surprised if it slows down again really soon.


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June 07, 2011, 05:31:31 PM
 #5

Things take time you know.  This is the first actual free market, so let's see how the market reacts.  Who knows, maybe we'll drop back to earth at like $13 to $15 or something, and you can buy some cheapies Smiley

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June 07, 2011, 05:31:47 PM
 #6

Yeah I thought so too, im a bit of a quote whore lol!

I need the price to go up as I need to pay off my $7500 server thats coming this week lol

If you are not willing to loose money dont invest it. After the absolutely abnormal rise of bitcoins this last two weeks its more than normal that the price is not going up for a while. Im actually very surprised that it has not gone down to $15 or so. It would be a normal correction. Im not very good at short time trading, but if it stays around $18-$19 and does not correct more it will be a very bullish sign.
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June 07, 2011, 06:08:18 PM
 #7

There's always a sell off after a huge run up like the one we had to start the month. The fact the price didn't go back down to $15 shows that there were a whole bunch of new buyers - very bullish indeed.

It'll crack $20 today - bet on it.
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June 07, 2011, 06:13:37 PM
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Im not very good at short time trading, but if it stays around $18-$19 and does not correct more it will be a very bullish sign.

Why is that bullish? What could we fear from that? Why is a correction a good thing?

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June 07, 2011, 06:17:25 PM
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It's very simple. There are so many asks (people who ask for 19$/btc) that we just haven't surpassed that barrier.  Today there's not so much movement as yesterday (1M$ yesterday, today it will be less than 400k), but btc buyers keep buying at around 19.

So the market is bullish, but there are too many sellers for not enough buyers to rise price.

Why is that bullish? What could we fear from that? Why is a correction a good thing?

Bullish means that price tries to rise (and with enough buyers, it will eventually rise). A correction is only a good thing if bitcoins are overvalued (I don't think they are).

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Babylon
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June 07, 2011, 06:51:31 PM
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It's very simple. There are so many asks (people who ask for 19$/btc) that we just haven't surpassed that barrier.  Today there's not so much movement as yesterday (1M$ yesterday, today it will be less than 400k), but btc buyers keep buying at around 19.

So the market is bullish, but there are too many sellers for not enough buyers to rise price.

Why is that bullish? What could we fear from that? Why is a correction a good thing?

Bullish means that price tries to rise (and with enough buyers, it will eventually rise). A correction is only a good thing if bitcoins are overvalued (I don't think they are).

A correction is a good thing for people who want to buy bitcoins.

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June 07, 2011, 07:00:25 PM
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A correction is a good thing for people who want to buy bitcoins.

Of course. I long for a 0.00001$/btc temporal correction.

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Jack of Diamonds
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June 07, 2011, 07:10:17 PM
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It already was 19.23 three days ago. Went down though.

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June 07, 2011, 07:14:28 PM
 #13

http://mtgoxlive.bco.in/orders

Why isnt the value going over $19, there seems to be a weird invisible barrier, and this I think is counter arguing the thoughts of some that itll hit $100 soon... it cant even hit $20!

$19.25 right now.

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SpaceLord
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June 07, 2011, 07:25:51 PM
 #14

http://mtgoxlive.bco.in/orders

Why isnt the value going over $19, there seems to be a weird invisible barrier, and this I think is counter arguing the thoughts of some that itll hit $100 soon... it cant even hit $20!

$19.25 right now.

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June 07, 2011, 07:43:15 PM
 #15

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June 07, 2011, 10:54:56 PM
 #16

it has broken $20

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cryptoanarchist
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June 07, 2011, 10:57:24 PM
 #17

It'll crack $20 today - bet on it.

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dingus
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June 07, 2011, 11:00:02 PM
 #18

Up, up, and away we go!

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nemo
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June 07, 2011, 11:10:59 PM
 #19

I blinked and it went from 20 to 21.5
SpaceLord
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June 07, 2011, 11:15:24 PM
 #20

What barrier?  Grin
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