Price climbing fast again

[alyssa85]

It is bouncing between $870 and $930, and with luck will stay in that range for a while. It is known as consolidation. 

[manselr]

It is bouncing between $870 and $930, and with luck will stay in that range for a while. It is known as consolidation. 

Seems like a good trading range, but notice how after the price is stable for a while, there a big dump has happened, then it climbs back slowly throught a couple of days. Let's hope that this time we don't see another big red candle when the next PBOC statement happens which is a matter of time. I hope that people playing this game eventually get burned because a rise happens instead of a crash.

[BrewMaster]

i am watching the market almost all the time and when i don't i come back and watch the charts, it was a fast rise but it was small in bitcoin standards for rises/falls.
i hope we can get out of this damn range faster but i am afraid (like the past 2-3 years) this is going to last long and then slowly rise.

[bitbunnny]

The price is rising but actualy it's more or less between 800$ and 950$ and probably will stay in that range for a while. With a little bit of luck and good "cards" on the market that price will go up significantly. This doesn't have to be fast rise but it's important to be stable and continuous for a longer period.

[2double0]

15 dollars is nothing if we compare to the worst fluctuations that we saw during these days when the price slipped down from $1300 to $750, almost a 50% drop which was remarkable and can only be said that history has repeated itself here once again. Stability is to be maintained if we are expecting better prices to remain in the markets for longer duration.

[pooya87]

it is possible that now because of Chinese market with fee, prices become even more stable. they can no longer make as many trades and their positions become more careful instead of being fast and loose with the orders because of zero fees. and also because of the lower volume from there people will panic less

[GreenBits]

it is possible that now because of Chinese market with fee, prices become even more stable. they can no longer make as many trades and their positions become more careful instead of being fast and loose with the orders because of zero fees. and also because of the lower volume from there people will panic less

Thats true like happen last time they are some panic seller sell their Bitcoin because Bitcoin price increasing faster so the result Bitcoin price down a large percent of it.I hope dont that happen again.

[tokeweed]

We went like 15 dollars up in very short time. Looks like the days of the chinese dumps are over. Now everyone dumping coins is risking getting out of the game on this very stable 900-high 800$ floor, and in bitcoin the rocket can stat functioning at any given and if you are in the wrong side you'll miss all the fun.

If you put Bitcoin trading in a 800 - 900 USD range then that's precisely what the active traders are doing.  They're selling now then make buy orders at 800 - 850 knowing well that it will go back up slightly above 900 USD.  Then they sell again and make buy orders at lower prices.  It's called range trading and it usually happens when a security, a commodity or a coin have lost it's recent trend.

[RoommateAgreement]

looks like OP spoke too fast. after about a day price is still that same $15 higher. and rises of this size is normal for bitcoin, there used to be a time when prices changed a lot bigger than this.
in any case market seems to be a little bit calm these days, not willing for fast and big changes.

[icecube45]

looks like OP spoke too fast. after about a day price is still that same $15 higher. and rises of this size is normal for bitcoin, there used to be a time when prices changed a lot bigger than this.
in any case market seems to be a little bit calm these days, not willing for fast and big changes.

Yeah maybe you're right, OP too quick to conclude bitcoin price increases. But it was not a problem and I appreciate it It was a reasonable price increase from bitcoin, and the price is still a bit stable does not change too much. Market conditions like this still will last a long time, even later will tend to fluctuate.

[Wolf Rainer]

This is part of the Chinese manipulation. If you see the Chinese markets volume it will become very clear that the most of the asian market is resting, and is only a small group of whales making noise.

[boyptc]

As per checking bitcoin's price on preev. I can say that it is flooring with $900 already and the current price is $913. I can say that it is just like a calm wave in the ocean and just waits for a big ship to have its way to make a big wave. It is not climbing fast again but base on what's happening today, this is a good indication that bitcoin is good.

[ultrloa]

As per checking bitcoin's price on preev. I can say that it is flooring with $900 already and the current price is $913. I can say that it is just like a calm wave in the ocean and just waits for a big ship to have its way to make a big wave. It is not climbing fast again but base on what's happening today, this is a good indication that bitcoin is good.

for this time i cannot see the fast surging of price for bitcoins statistics, since the price is just playing for 900$ and op's thoughs is little advantage and doesn't have any strong basis in reality, we just stick for the fact that price for now is stable and im happy for it for the current price since its still high unlike those past years where btc price soar down for more,

[deisik]

We went like 15 dollars up in very short time. Looks like the days of the chinese dumps are over. Now everyone dumping coins is risking getting out of the game on this very stable 900-high 800$ floor, and in bitcoin the rocket can stat functioning at any given and if you are in the wrong side you'll miss all the fun.

If you will compare it to previous burst, this is not fast enough. I can say that this is just normal pace bitcoin wise.
I read that investors are dumping gold in order to buy bitcoin. Maybe that is the reason the price is moving up again. We will see if there are enough movers to push the price back to 1000$.

Where did you hear this?

Investors and short-term speculators alike have billions invested in gold and gold derivatives such as gold futures and options. Gold derivatives are typically used to hedge against abrupt price changes in the stock of the gold mining companies, so I can't really understand why these investors may be interested in Bitcoin and abandon gold. It is a completely different market. Some gold bugs may pour some money into it, of course, but I don't think that their number is great by any means

[xIIImaL]

As per checking bitcoin's price on preev. I can say that it is flooring with $900 already and the current price is $913. I can say that it is just like a calm wave in the ocean and just waits for a big ship to have its way to make a big wave. It is not climbing fast again but base on what's happening today, this is a good indication that bitcoin is good.

After the recent dump we saw the value under the 800$ but suddenly again price rising and still rising and today price is set to 920$. I see the most of the speculations are saying bitcoin will increase nearly 1200$ in this year itself. I hope it come true.

[Immakillya]

C'mon. Thats was just normal movement of price. Anyone can dump and buy bitcoin. I thats whats happen. Thats why we see the price goes up and down. Thats not a sign of price surge. $15 increase of price is not a sign of price surge. We can tell if its price surge if the price is quickly moving up fast.

[1Referee]

it is possible that now because of Chinese market with fee, prices become even more stable. they can no longer make as many trades and their positions become more careful instead of being fast and loose with the orders because of zero fees. and also because of the lower volume from there people will panic less

Flash trading was the number 1 reason people were using these Chinese exchanges, and now all of the major exchanges have enabled fees for their trading platforms, where these flash traders are now put off-side. I quite often have seen how in a matter of seconds several +10,000BTC orders were dumped into a more than equal amount of CNY to catch up the dump and scoop up a slight profit percentage. If you look at profits of 0.1% per time, then it doesn't seem like much, but if you do that plenty of times every day, then do the math; 0.1% of 1BTC = 0.001BTC in profits and do that x a few thousand BTC (for the purpose of this example let's take 3000BTC) 3000 x 0.001BTC = 3BTC just from buying and selling into their own orders. It's a simple but more than effective/profitable manner of flash traders where they exploit the weakness of other traders their bots that aren't programmed well enough.

[deisik]

it is possible that now because of Chinese market with fee, prices become even more stable. they can no longer make as many trades and their positions become more careful instead of being fast and loose with the orders because of zero fees. and also because of the lower volume from there people will panic less

Flash trading was the number 1 reason people were using these Chinese exchanges, and now all of the major exchanges have enabled fees for their trading platforms, where these flash traders are now put off-side. I quite often have seen how in a matter of seconds several +10,000BTC orders were dumped into a more than equal amount of CNY to catch up the dump and scoop up a slight profit percentage. If you look at profits of 0.1% per time, then it doesn't seem like much, but if you do that plenty of times every day, then do the math; 0.1% of 1BTC = 0.001BTC in profits and do that x a few thousand BTC (for the purpose of this example let's take 3000BTC) 3000 x 0.001BTC = 3BTC just from buying and selling into their own orders. It's a simple but more than effective/profitable manner of flash traders where they exploit the weakness of other traders their bots that aren't programmed well enough

This is a trick well known to experienced bot developers

Basically, it is one bot fooling another bot into either a sell or a buy lower or above the market price, respectively. It works as follows. If some bot is stupidly placing a sell or buy order of a particular size, another bot programmed specifically against this type of bots traces the orderbook and when it sees that the opposite orders are smaller in total that the first bot order size, it quickly buys or sells enough orders (you will see that as a sudden spike up or down on the price chart), then awaits when the stupid bot follows the price change placing its orders higher (or lower), and finally the smart bot fills the stupid bot orders at a price which is substantially lower or higher than the market price



That's how it might look like in practice

[Barbut]

15 dollars isn`t some big rise, bitcoin is capable to go up or down much more then 15 dollars. Today`s law is $ 909.40, highest was $921.22, it`s clear that bitcoin daily fluctuations are in that 15-30 dollars range, and everything in that borders is just fine. Price is very stable if you ask me, we are close and over 900 for a while, recent pump and dump didn`t affect price like 4 years ago, price is strong and I hope we will continue this steady grow in first quarter of the 2017.

[chaser15]

Price are still playing around with no much increase and decrease.

I think this was the correction price is all about. Let's say it will idle for the current level for the moment and able to maintained it for at least weeks, do you think guys that this is a good sign that resistance around $900 is really strong. If that is the case, then it's a good bottom to consider before going again on the big price increase.