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Author Topic: Why the sudden $0.30 rise?  (Read 6557 times)
vokain
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January 10, 2013, 08:32:43 PM
 #61

My explanation, few peoples with cash realized that bitcoins are really under valued.  They bought because they understood that BTC under 20 U$ are cheap !

You really have it with logic, hmm?

What a usefull post !  this may explain yhe color of your ignore button ;P

Yes it does.

I remember back after the $35 bubble people were saying that a BTC is really something like $50 and $15 is really cheap!

I would say DoomDumas's idea of $20 true market price is regardless more accurate than those people's $50 example.
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January 10, 2013, 08:42:32 PM
 #62

I would say DoomDumas's idea of $20 true market price is regardless more accurate than those people's $50 example.

That too, but it demonstrates the thought process. It's only cheap if we aren't going back into the single digits.

Cheap is relative...

 
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January 10, 2013, 09:08:31 PM
 #63

Don't worry, the cycle starts back over in 1-4 months!

Months? I doubt it will be that long.

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January 10, 2013, 10:15:08 PM
 #64

what was the bitpay news?

They say they got sponsored by an amount of half a million dollars in a press release.

 
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January 10, 2013, 10:16:05 PM
 #65

what was the bitpay news?

http://www.forbes.com/sites/jonmatonis/2013/01/07/largest-bitcoin-payment-processor-raises-510000-angel-round/

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January 10, 2013, 11:13:01 PM
 #66

Don't worry, the cycle starts back over in 1-4 months!

Months? I doubt it will be that long.

My guess is we will be break 14.4$ by next week.
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January 11, 2013, 02:17:44 AM
 #67

Don't worry, the cycle starts back over in 1-4 months!

Months? I doubt it will be that long.

My guess is we will be break 14.4$ by next week.

$13.40 next week...or the week after

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January 11, 2013, 02:25:47 AM
 #68

Don't worry, the cycle starts back over in 1-4 months!

Months? I doubt it will be that long.

My guess is we will be break 14.4$ by next week.

$13.40 next week...or the week after
$13.50 was pretty comfortable.
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January 11, 2013, 06:02:32 AM
 #69

You know what's funny?

SgtSpike asked about the sudden $0.30 rise before the sudden $0.30 rise actually happened.

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January 11, 2013, 06:14:55 AM
 #70

You know what's funny?

SgtSpike asked about the sudden $0.30 rise before the sudden $0.30 rise actually happened.

no....and posts can be edited

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January 11, 2013, 07:23:14 AM
 #71

Just read this and thought I'd leave it here.

Quote from: Jesse  Livermore - Reminiscences of a Stock Operator
Sometimes, after you have taken all the stock that is for sale, it pays to rush up the price sharply, to have what might be called little bull flurries in the stock you are manipulating. It is excellent advertising, because it makes talk and also brings in both the professional traders and that portion of the speculating public that likes action.

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January 11, 2013, 07:57:54 AM
 #72

I think we are generally overestimating the short-term effect of positive news (like wordpress, goldmoney, bitpay,...) and underestimating the long-term effects.

Sure, on good news traders with fiat at the exchanges will buy. But keep in mind these people are prone to take a profit even on a $0.15 rise, so the effect will be short-term and short-term only. No new fiat comes in through this mechanism so there wont be a lasting effect.

The long term effect of good news bringing in fresh blood on the other hand is too easily forgotten about by the time the news is old and we then ask ourselves: "why the $0.30 rise on no news?"

See for example the reasons I gave for justifying my intution of a rocket about to be ignited in this thread on Nov 5th last year: https://bitcointalk.org/index.php?topic=122454. We might still see the effects of this 2 month later. Think about it: it takes time to go from hearing about bitcoin to actually making a sizeable purchase: First the guy has to get his initial infos about bitcoin. He will then ponder the idea for a while and let the overwhelming info sink in (a week or two), then revisit bitcoin and get excited, take another week to make the decision to get in. Then it takes a week for him to actually get money to an exchange (yes, a majority of newbs will think mtgox is the way to buy bitcoins). Then he will wait for a dip or rally to actually get int (another week or so). Add this up and you have 1-2 months.

;tldr: the current rally is fueled in considerable part by newbs generated by 2 months old good news.

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January 11, 2013, 09:43:25 AM
 #73

(yes, a majority of newbs will think mtgox is the way to buy bitcoins).


You have a better way of buying?
molecular
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January 11, 2013, 10:18:14 AM
 #74

(yes, a majority of newbs will think mtgox is the way to buy bitcoins).


You have a better way of buying?

localbitcoins.com

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January 11, 2013, 11:05:53 AM
 #75

;tldr: the current rally is fueled in considerable part by newbs generated by 2 months old good news.

Then the fun is still waiting to happen, given the last 2 months of financial news (like the trillion $ coins, the euro-trainweck, Japs going pedal to metal with the money printer, and on and on).
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January 11, 2013, 11:11:31 AM
 #76

;tldr: the current rally is fueled in considerable part by newbs generated by 2 months old good news.

Then the fun is still waiting to happen, given the last 2 months of financial news (like the trillion $ coins, the euro-trainweck, Japs going pedal to metal with the money printer, and on and on).

exactly

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January 11, 2013, 11:14:48 AM
 #77

;tldr: the current rally is fueled in considerable part by newbs generated by 2 months old good news.

Then the fun is still waiting to happen, given the last 2 months of financial news (like the trillion $ coins, the euro-trainweck, Japs going pedal to metal with the money printer, and on and on).

Hey con,

All this news coming out of the gold camp has to be concerning?  Especially all of Traces work?
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January 11, 2013, 11:17:59 AM
 #78

;tldr: the current rally is fueled in considerable part by newbs generated by 2 months old good news.

Then the fun is still waiting to happen, given the last 2 months of financial news (like the trillion $ coins, the euro-trainweck, Japs going pedal to metal with the money printer, and on and on).

Hey con,

All this news coming out of the gold camp has to be concerning?  Especially all of Traces work?

concerning? is con a bear?

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January 11, 2013, 11:19:16 AM
 #79

Hey con,

All this news coming out of the gold camp has to be concerning?  Especially all of Traces work?

Concerning if you don't have gold/silver/btc/canned beans or a passport and an escape plan. Who is Traces?
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January 11, 2013, 11:20:56 AM
 #80

Hey con,

All this news coming out of the gold camp has to be concerning?  Especially all of Traces work?

Concerning if you don't have gold/silver/btc/canned beans or a passport and an escape plan. Who is Traces?

Trace Meyer (http://www.runtogold.com/). Introduces bitcoin to gold/silver crowd and others.

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