bassclef
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September 23, 2014, 09:08:16 PM |
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you guys think this the start to a new bubble?
No. When we hit $800 then you may start thinking about bubbles. Or, as I like to call them, reverse snowball exponential runups.
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klee
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September 23, 2014, 09:08:23 PM |
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next wave
New Wave Between this and Monero..... I think I need more coffee....
Any update? Did not have time to check the BCX drama.. Well they have stopped trading on poloniex and are sending coins to cold storage, The dev's have installed checkpoints to try to protect the chain. BCX 72 hours is up in 3 or 4 hours ish... So far nothing, and price bounced back a little bit. Scary stuff
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spooderman
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September 23, 2014, 09:10:04 PM |
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No, that's when it goes back down again.
Either you've lost your glasses or you're looking at a different chart. I don't wear glasses.
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Post-Cosmic
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September 23, 2014, 09:10:43 PM |
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Based on the amount of memberships looks like bitcoin rally might be for real.
Track bitcoin price by new members to the forum is it possible :
Month New Members Sep-14 8036 Aug-14 11443 Jul-14 11119 Jun-14 11952 May-14 14264 Apr-14 17948 Mar-14 45800 Feb-14 25448 Jan-14 26625 Dec-13 31775 Nov-13 19683 Oct-13 2927 Sep-13 5156 Aug-13 6052 Jul-13 7413 Jun-13 9373 May-13 15512 Apr-13 18712 Mar-13 7358 Feb-13 3532 Jan-13 3184 Dec-12 2766 Nov-12 2708 Oct-12 3200 Sep-12 2345 Aug-12 2395 Jul-12 2109 Jun-12 2080 May-12 2018 Apr-12 2072 Mar-12 2118 Feb-12 1991 Jan-12 2051 Dec-11 1725 Nov-11 1993 Oct-11 2078 Sep-11 2452 Aug-11 3866 Jul-11 5466 Jun-11 14483 May-11 5959 Apr-11 2924 Mar-11 2538 Feb-11 1379 Jan-11 837 Dec-10 680 Nov-10 374 Oct-10 315 Sep-10 587 Aug-10 515 Jul-10 370 Jun-10 55 May-10 65 Apr-10 73 Mar-10 40 Feb-10 25 Jan-10 9 Dec-09 15 Nov-09 4
Fella' here might be on to something.. Hard to dismiss/not get distracted by those curiously telling sharply lower registration numbers for Dec. '12 - Feb. '13, Sept-Oct '13, & Aug-Sept '14.. =/ Which leads to : The rally that started May 20 too consisted of a few episodes of intense buying, 1-2 hour long, that drove the price up by ~50$ each time; separated by "organic-looking" periods where the price just wandered about, often with a downward trend.
Could this rally be the first of another (mini-)bubble like that?
I did vote for 'We can definitely see 300's again [this year]' in the poll because this is pretty much entirely fueled by only 1 piece of news - PayPal. That alone certainly may not be enough, as many here have voiced, to counteract the hugely built-up negative sentiment from the majority towards cryptospace. However, Prof. here nailed the other possibility right on the head. That's what should be deeply concerning to any bearish view - 1] We are in active, higher-volume, fall season. 2] We're fresh off last fall season's tremendous influx to the crypto-economies and development in everyone's memories - and psychologically, people's expectations & pattern recognition routines tend to look for & reinforce perceived similarities, symmetries, equivalences (aka everyone wants to b-elieve history repeats itself). 3] We've been particularly lower-priced (cheaper/closer to bottom) for a good little while now. 4] It seems eerily possible that the recent constant dump pressure over the summer might've actually been mostly artificial, caused by insiders who knew to a far greater degree than most when exactly the ETF's will be coming online this year and of course knew about PayPal's announcement to come today - which would put a near-term bearish outcome in serious trouble, and lend solid credence to Stolfi's theory that this could indeed be the start of a new 'stairway-pattern' mid-term small bull run back to 600-800's.
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Chuckee
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September 23, 2014, 09:10:49 PM |
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WHY IS IT STILL GOING UP???!?!?
do not buy into any false recoveries. this must be the bull trap before final capitulation!
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Torque
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September 23, 2014, 09:11:07 PM |
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you guys think this the start to a new bubble?
Would have to dig out of trench around $480 first, then eventually move up on rising volume to get past $510 resistance. At that point I would confidently say we've started a new uptrend. Until then, no.
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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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September 23, 2014, 09:12:39 PM |
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A few minutes before the rally started nearly all the bids on Bitstamp down to 360 were removed within in a second. Also quite a lot of asks were removed, but far less than bids. I switched over to the trading PC and by then everything was back to normal. Did anyone else catch that? I wonder what that was all about, there were literally only a few dozen coins worth of bids down to 360, basically just a long flat green line (on bitcoinity.org). A bug maybe? But would be a weird coincidence because it happened right before that rally.
About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...
I followed the rally early on and decided @ about $415 that someone was trying to squeeze those 11000 shorts out. So I went "picking up pennies in front of the steamroller" - I bought into the askwalls, then set up my own askwalls at a slighty higher price. Worked out well, but I would have been in trouble if the price had reversed suddenly. Bids were very thin, so I wouldn't have been able to sell the coins back at the price I bought them at. Was probably not a good idea, even though I made some profit.
Edit: I'm still all in fiat, and comfortably so. Still bearish in the midterm, and think that the paypal news is overvalued (although it's certainly good news, for the long term).
Chartbuddy didn't catch it so it would have to have been less than a minute.
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blade87
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September 23, 2014, 09:12:59 PM |
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China wakes up in 4-5 hours. love this lol Next up. China bans Paypal?
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btcisreal
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September 23, 2014, 09:13:06 PM |
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Hahahahahaha I keep laughing at the loser trying to dump down the price the whole time. Try harder bitch
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bassclef
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September 23, 2014, 09:13:53 PM |
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Maybe insider knowledge of Sonny's capital flight.
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Post-Cosmic
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September 23, 2014, 09:14:54 PM |
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About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...
Indeed, that was definitely 1 entity, aka inorganic. Doesn't definitely preclude any final short-term outcome towards bullish or bearish however - there's more variables that need to play out yet. you guys think this the start to a new bubble?
Would have to dig out of trench around $480 first, then eventually move up on growing volume to get past $510 resistance. At that point I would confidently say we've started a new uptrend. Until then, no. +2 [ Obvious Booktalk ]
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klee
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September 23, 2014, 09:15:49 PM |
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Maybe insider knowledge of Sonny's capital flight.
How much does he have?
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EuroTrash
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September 23, 2014, 09:16:05 PM |
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Hmmm i bought a 1 BTC in bitstamp it says they taake 0,50% it should be 0,995BTC but i got 0,99092838 BTC... WTF : /
Your buy has probably been split in a certain amount of smaller buy orders to match the available asks. The fee for each one of them has been rounded up to dollar cents.
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Meuh6879
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September 23, 2014, 09:16:46 PM |
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WHY IS IT STILL GOING UP???!?!?
because wallet in exchange are empty ...
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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September 23, 2014, 09:19:36 PM |
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I'm seeing strong buy signals still, bit I'm not ready to pop the champagne yet.
Too many dumpers. Biggest news this year -> dump the shit out of the market and put up massive ask walls so the price won't go up. NO matter what, SHROOMIE will find a reason to complain.
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degold
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September 23, 2014, 09:20:06 PM |
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Is this spike because of Paypal announcement with bitpay and other exchanges.
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bassclef
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September 23, 2014, 09:20:54 PM |
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Maybe insider knowledge of Sonny's capital flight.
How much does he have? BFL has been selling/scamming customers for over a year. I would guess millions but who knows how spread out his assets are. He's been hiding money from the feds for like 20 years so he obviously knows a few tricks.
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fonzie
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September 23, 2014, 09:22:24 PM |
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It looks like there was more money on Stamp than shown in the orderbook Edit: Shorters you can easily cover your red positions if you add MOAR shorts, as this is def. a bulltrap and we´re heading to 200$ in the next days. Easy money!
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degold
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September 23, 2014, 09:25:32 PM |
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I think we'll see 500 soon.
Yes, we will surely going to see 500 soon.
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klee
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September 23, 2014, 09:25:36 PM |
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Maybe insider knowledge of Sonny's capital flight.
How much does he have? BFL has been selling/scamming customers for over a year. I would guess millions but who knows how spread out his assets are. He's been hiding money from the feds for like 20 years so he obviously knows a few tricks. Let's hope he is not as rookie as Ross and he hides them good - I can't stand another auction drama... On the other hand thousands of BTC 'lost' is very bullish news
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