crumbcake
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May 08, 2013, 02:13:56 PM |
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Shorting BTC is starting to be available on different platforms. When that spreads, we will see more downward pressure.
I am shorting it... and I know it will fall. Its just making all of you a fool There is no BTC reality. Currency value equals to amount of gold it holds. [...] Send me all your paper monyz plzokthnks. (will send .0001 BTC)
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jojo69
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diamond-handed zealot
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May 08, 2013, 02:15:59 PM |
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There is no BTC reality. Currency value equals to amount of gold it holds. abject and total history/reality fail
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Rampion
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May 08, 2013, 02:33:09 PM |
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
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oda.krell
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May 08, 2013, 02:35:42 PM |
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Well, the oscillations (gravy train) are essentially over on the mother-of-all-triangles. We are entering the pinch point. The next few days will be interesting.
In all metrics you could go either way:
On the one hand we have 17M on the bid side which is over double what we had originally climbing into 100. But the end of the bank holiday did not increase bids. Of course, the pinch point is not a good time to place bids if you can just watch the charts so there could be secret rocket fuel on Gox.
On the news front we have very bullish news coming out of China, but medium term. But those directly involved will not be able to buy for quite some time. And we seem to have news exhaustion in the western world -- what coverage there is is all about speculation or regulation. But lots of bears posting here... implying that people who wanted out are out.
Fundamentally, the transactional uses for BTC that have existed since early/mid 2012 seem to remain strong (although I haven't heard updates from gambling sites, etc). So the 2012 extrapolated exponential trendline (call it E0) seems very solid. However, the question the market will resolve in the next week is whether the E1 trendline (starting Jan 2013) is also solid (leaving E2 and E3 as the bubble exponentials). On the bull side, note the trendline started near the block reward halving event & adoption of BTC payment options by certain web sites (these events sequester/limit supply and remain in force). On the bear side, that trendline is still freakin' insane :-), and anyway "final capitulation" event would likely plumb below it (we are right on it now). Also on the bear side: rpietila thinks its a sure thing, and is basing his "I am THE new gentleman elite" posts on its continued performance. ;D
Apologies for quoting a day old post on a topic that moves as fast as this, but I wanted to say thanks for a very interesting analysis. By all means, keep on posting :)
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billington.mark
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May 08, 2013, 02:36:01 PM |
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
get some sleep while you can!
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SlipperySlope
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May 08, 2013, 02:36:49 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FWAyy0or.png&t=665&c=JRKzogwn0kAQgg) I figure 194 bitcoins mined per hour at this rate. Interesting to compare that number with hourly trading volume - which was 1095 in the last complete hour at Mt. Gox.
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lewicki
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May 08, 2013, 02:38:26 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FZ2DlXy1.png&t=665&c=cmujUO3WNz_lbQ) History repeating itself?
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samson
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May 08, 2013, 02:42:58 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FZ2DlXy1.png&t=665&c=cmujUO3WNz_lbQ) History repeating itself? We live in hope.
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Richy_T
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May 08, 2013, 02:48:31 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FZ2DlXy1.png&t=665&c=cmujUO3WNz_lbQ) History repeating itself? If you mean "The price goes up and the price goes down", yes.
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ManBearPig
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May 08, 2013, 02:49:39 PM |
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
That would impossible to tell as we're not finished yet! ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FR7yhpgL.png&t=665&c=LeJUmkGjg2Tr1g) Wednesday trade for 2013: note that 9th Jan 2013 was VERY quiet, right before launching quietly into the dominant trend of the year so far! Edit: 9th busiest Wednesday ever in USD volume and we have 9 hours to go.
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mccorvic
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May 08, 2013, 02:50:21 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FZ2DlXy1.png&t=665&c=cmujUO3WNz_lbQ) History repeating itself? If you mean "The price goes up and the price goes down", yes. Lulz, this was my exact thought as well
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SlipperySlope
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May 08, 2013, 02:52:07 PM |
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Interesting watching the numerous 0.1337 sales nibble away at the available bids. I assume that it is a bot. I cannot figure a motive. Its not frequent enough to cause lag. It is not even handled - so I rule out an arb bot. Why not just buy from the large bid at the top of the depth in one lot.
Is it a signal among a team of traders? Does anyone do such a thing?
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Rampion
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May 08, 2013, 02:54:19 PM |
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
That would impossible to tell as we're not finished yet! ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fimg819.imageshack.us%2Fimg819%2F9696%2Fe3cf381a118148e793d5c11.png&t=665&c=HC9AI1t89D_HyQ) Wednesday trade for 2013: note that 9th Jan 2013 was VERY quiet, right before launching quietly into the dominant trend of the year so far! This was @ 10:30 it's now around 37,000. Thanks for the data, very interesting indeed. So volume is not so low, we had slower Wednesdays not only in January... But also in February! Memory is a bitch. I guess it's just me, anxiously waiting for the tipping point we should see soon enough.
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SilentSonicBoom
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May 08, 2013, 02:58:16 PM |
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
That would impossible to tell as we're not finished yet! ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FR7yhpgL.png&t=665&c=LeJUmkGjg2Tr1g) Wednesday trade for 2013: note that 9th Jan 2013 was VERY quiet, right before launching quietly into the dominant trend of the year so far! Edit: 9th busiest Wednesday ever in USD volume and we have 9 hours to go. Where did you get this data? Is it easy to access? Thanks for a reply.
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Vicus
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May 08, 2013, 03:00:03 PM |
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Interesting watching the numerous 0.1337 sales nibble away at the available bids. I assume that it is a bot. I cannot figure a motive. Its not frequent enough to cause lag. It is not even handled - so I rule out an arb bot. Why not just buy from the large bid at the top of the depth in one lot.
Is it a signal among a team of traders? Does anyone do such a thing?
1337 refer to word "leet" http://en.wikipedia.org/wiki/Leet
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dexX7
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May 08, 2013, 03:01:00 PM Last edit: May 08, 2013, 03:14:39 PM by dexX7 |
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Interesting watching the numerous 0.1337 sales nibble away at the available bids. I assume that it is a bot. I cannot figure a motive. Its not frequent enough to cause lag. It is not even handled - so I rule out an arb bot. Why not just buy from the large bid at the top of the depth in one lot.
Is it a signal among a team of traders? Does anyone do such a thing?
Noticed the exact same thing. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FsebIDI0.png&t=665&c=pvxFTHviWN1mqg) But don't project anything into this yet. People get bored, when nothing is happening. Btw. would I be allowed to make a bot that posts bank holiday information here every 24 hours? Do I need permission from the Mod Team or someone else? I can only speak for myself, but some kind of calendar with important events would be useful anyway. In case you didn't saw.. Short clip with Bill Gates, Warren Buffett and Charlie Munger on Bitcoin. Nothing special, but I think it's quite positive to see Bitcoin become a regular topic to talk about in public television.
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needmorecoins
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May 08, 2013, 03:06:35 PM |
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Bulls' new tactic - bore the f*#$ out of the bears till they remove the ask walls?
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ChartBuddy
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May 08, 2013, 03:07:21 PM |
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thezerg
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May 08, 2013, 03:07:48 PM |
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Well, the oscillations (gravy train) are essentially over on the mother-of-all-triangles. We are entering the pinch point. The next few days will be interesting.
In all metrics you could go either way:
<blah blah>
Apologies for quoting a day old post on a topic that moves as fast as this, but I wanted to say thanks for a very interesting analysis. By all means, keep on posting ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Thanks! I suppose the tl;dr; takeaway from my post is that trading this situation is just gambling. So instead use the little dips or rises to re-position yourself for moves in either direction. Interesting watching the numerous 0.1337 sales nibble away at the available bids. I assume that it is a bot. I cannot figure a motive. Its not frequent enough to cause lag. It is not even handled - so I rule out an arb bot. Why not just buy from the large bid at the top of the depth in one lot.
Is it a signal among a team of traders? Does anyone do such a thing?
1337 refer to word "leet" http://en.wikipedia.org/wiki/LeetMaybe some gamer hooked his frag count to his trading bot? ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Coinseeker
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May 08, 2013, 03:11:42 PM |
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Ok? What the hell? We go from Armageddon to watching grass grow. Sheesh! ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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