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Author Topic: price stagnation  (Read 5955 times)
paulie_w
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June 10, 2011, 09:12:22 AM
 #1

can we start another rampant speculation-about-price-stagnation thread please? what's going on?
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kinghajj
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June 10, 2011, 09:37:17 AM
 #2

It's just the usual decline after a large rise.

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June 10, 2011, 09:37:48 AM
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wareen
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June 10, 2011, 09:40:23 AM
 #4

LOL - good one! Cheesy
2weiX
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June 10, 2011, 09:40:27 AM
 #5


normal scaling, looks really overheated. if it drops below 25, next target is 20, then 10.
the most solid resistance is ~10. i haven't taken into account market depth.


logarithmic scaling. looks alot more stable. notice how the resistance ~20 is the same, then slightly below 10.


well anyways, this is "shot from the hip" as we say in germany. personally - if there's two or three more days with decent volume ABOVE 25, I'll start to not-sell / buy.
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June 10, 2011, 09:43:14 AM
 #6

LOL - good one! Cheesy
+1

piuk, YMMD!

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2weiX
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June 10, 2011, 09:49:06 AM
 #7

well, I disagree on the BID/ASK:




Looks pretty good IMHO.
Nesetalis
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June 10, 2011, 09:50:15 AM
 #8

is it blue or pink that owns bitcoins and wants to sell? :p

ZOMG Moo!
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June 10, 2011, 09:52:32 AM
 #9

is it blue or pink that owns bitcoins and wants to sell? :p

pink buys (at lower prices)
blue sells (at higher prices)

obv

iirc theres ~13000BTC BID @ ~22
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June 10, 2011, 10:00:00 AM
 #10

+1 for this thread

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June 10, 2011, 10:25:11 AM
 #11

iirc theres ~13000BTC BID @ ~22

Yes, massive order @ 22. The cynic inside me thinks that the fact it isn't a dark pool means its' deliberately there to prop up the price.

Dobrodav
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June 10, 2011, 10:33:23 AM
 #12

That is not cinyc assumption, somebody talk to us clearly.

We will  meet in not-so-distant future.
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bittersweet
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June 10, 2011, 10:38:54 AM
 #13

What's going on?!
You would be a fool if you didn't expect a possibility of price correction after it triples within 10 days...

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cartwright
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June 10, 2011, 10:41:22 AM
 #14

So it was only the fools that were paying $32 per coin.
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June 10, 2011, 10:42:46 AM
 #15

We saw such a reaction around 18 $. Somebody want stabilize market, and have enough funds to do it for some time. Well i am don`t see anything horrible in that. Some old BTC will change hands, and that is good for BTC community.  I was thinking that this process will start around 50 $, well, i was mistaken.

We will  meet in not-so-distant future.
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relmeas
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June 10, 2011, 10:44:39 AM
 #16

well, I disagree on the BID/ASK:

Looks pretty good IMHO.
did you have to omit the part above 32? because it does not look that good with it Smiley
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June 10, 2011, 10:46:16 AM
 #17

Look at the volume going through MTGox.  It's clearly an issue with funds being backed up which are trying to flow in to MTGox.  You've seen the threads all over these boards.  Once they get hooked in to Dwolla properly again, you'll see another day like the rush from 19 in to the mid 20s at a minimum.  So many people tried to get funds in before the rush to 30 that have just been waiting to get in now that they see how real the interest is in Bitcoins.
jashan
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June 10, 2011, 10:54:28 AM
 #18

So it was only the fools that were paying $32 per coin.

I don't think so. I'm pretty sure Bitcoin will eventually pass $100 and it wouldn't surprise me if it would go up to $1000. Simply because it's extremely undervalued at the moment (21 million cap - think about what that means when Bitcoin gains more traction ... it means: one Bitcoin needs to be worth quite a lot, certainly much more than $100).

Of course, it sucks when you bought at $30 instead of at $20 ... or $10 ... or $1. But it will suck even more if you miss it at $30, or $50, or $100. So unless you want to speculate on it going down quite a bit (which may or may not happen), I'd rather do my best to not miss the train ;-)

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relmeas
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June 10, 2011, 11:31:42 AM
 #19

I'll just leave it here Smiley
jerfelix
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June 10, 2011, 11:37:06 AM
 #20

So it was only the fools that were paying $32 per coin.
I don't think so.
I second that.  Sure it'd be nice to buy now, instead of $32, but you can't lose sleep second guessing the exact timing.

I go back to "fundamental" analysis.  Figure how many dollars need to be stored in Bitcoins to support an electronic market, and guess at the probability that Bitcoins will get there, and you can arrive at a current valuation.  I did that here about nine days ago with some very conservative numbers.

A lot has changed since then, including (especially) more than 100,000 people having downloaded the client, increasing the installed base by about 40%.

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