We're getting pumps at times of the day and week when we would normally be getting dumps. It's as if some whale has been watching the market and timing his buys with minimal slippage.
maybe it simply the lack of dumps which leads to more market buys, few months ago you'd place your order 10-20% below market price and you'd get it filled in a few weeks at most, these days this isnt happening.
It takes only $900,000/day to buy the 3600 coins mined daily and support this price level. We could easily get half of that just from Greeks who have no room left under the mattress to stuff Euros.
I would imagine a good deal of the minted coins are not for selling, in anycase ~1mil a day sounds about right to keep this market a float, looking at bitfinex daily volume for the past year you can see that when we have a few days of <5mil$ in trade price dropped after. if we start seeing the opposite a few low volume days in a row leads to more vol on the up side CCMF.
I agree with those who say that the Greek propblem is going to drag out, but I think that's insanely good for bitcoin. It will take time for the reality of Greece's fucked up situation to fully sink into the population and even longer for a substantial number of them to take rational action to preserve their capital and purchasing power.
we saw with the russian ruble that BTC really does work well to preserve your preaching power during a crash. Greece better act fast.
This is a disaster for Greeks and a bad situation for the whole Eurozone, but I won't be in a position to provide the BTC liquidity they will need if I don't stay loaded up now, so I'm hodling.
you're right, everyone in the Eurozone should act now(they won't they will all act slowly one by one.. until it's kinda too late and then suddenly everyone wants in...), i really don't think once greece is toast that will be the end of the euro's troubles?
I wish we could wait until after the final USMS auction before the next bubble, but I don't think the market will wait that long. I won't buy any moar unless there is a dip into the $230s, but I sure as hell ain't gonna sell any moar unless i have a reasonable chance of buying my coins back lower. Time to wait and see.
I really don't think market will truly bubble until these coins are sold this can't be too much longer, maybe they are just waiting for >300 lol or maybe they read this thread and now that they know it's going >32,000 in < 2years they are hodling?
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