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ManBearPig
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May 23, 2013, 12:10:05 PM |
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Whisper it quietly:  We just tip-toed over $125. |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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HerrDoktor
Newbie
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Activity: 56
Merit: 0
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May 23, 2013, 12:10:31 PM |
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Battle for 125 begins again 311 takes us through it. 531 to get below 124.5 EDIT: That was quick  Was about time that we get some movement here. Allthough i really like stability for the sake of Bitcoin, i really miss the excitement of the last few weeks. Cheers |
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Miz4r
Legendary
Offline
Activity: 1246
Merit: 1000
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May 23, 2013, 12:11:06 PM |
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New daily high of 125.12, looks like people are really in a buying mood today.  |
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FNG
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May 23, 2013, 12:13:11 PM |
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124.5 guy moved some coins up to 125
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Bitcycle
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May 23, 2013, 12:17:32 PM |
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124.5 guy moved some coins up to 125
He's walking us up, bit by bit. Would like to see support from others too, but take what we get I guess. |
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Miz4r
Legendary
Offline
Activity: 1246
Merit: 1000
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May 23, 2013, 12:18:12 PM |
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Speculation: people have sold their stocks on the stock market since that market is over the top now and are moving into bitcoin.  |
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FNG
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May 23, 2013, 12:19:54 PM |
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Speculation: people have sold their stocks on the stock market since that market is over the top now and are moving into bitcoin. Japan/YEN trade off, Bitcoin ON |
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Ivanhoe
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May 23, 2013, 12:27:25 PM |
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Slow steady rise, nice!
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ManBearPig
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May 23, 2013, 12:27:27 PM |
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This is great. I didn't even know about the Nikkei slide until just now. BTC didn't miss a beat. How did your stocks do vs BTC in the last 24 hours? |
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esse83
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May 23, 2013, 12:29:25 PM |
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btc like gold is the new fear index 1hour before new york stock exchange opens |
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DougTanner
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May 23, 2013, 12:32:58 PM |
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Looks like the slow upwards rally continues. The bid sum is not increasing though.  |
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Miz4r
Legendary
Offline
Activity: 1246
Merit: 1000
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May 23, 2013, 12:36:01 PM |
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Looks like the slow upwards rally continues.
The bid sum is not increasing though. Ask sum is falling again, so relatively speaking the bid sum is increasing. |
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samson
Legendary
Offline
Activity: 2097
Merit: 1068
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May 23, 2013, 12:40:39 PM |
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The way I see the current situation is that some 'asshat' decided to purchase about $1Million worth of Bitcoin on Friday 17th breaking through several walls and driving the price up to $125.xx, probably in order to incite a large scale rally like the ones we've seen since the crash.
I wouldn't be surprised if he purchased some of his own sell walls to make the rise look even more dramatic than it was, however that's up for debate as there's no proof whatsoever, this is speculation after all.
This attempt failed miserably and the price retraced and stagnated and it's took until now for it to recover.
I still expect to see coins priced much lower than $100 at some point in the future but with the current bid walls in place I suspect the price will need to bubble well into overbought territory before it will crash with the kind of velocity required to smash back into double digits.
I'm all in right now.
Just my thoughts.
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icekiss
Member
Offline
Activity: 70
Merit: 10
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May 23, 2013, 12:43:26 PM |
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We are also just getting the answer to a question I posted yesterday: What happens on bitstamp if mtgox rises to 125?
Answer: The price is stuck at the slope (currently at 119.79), which gets eaten, but way way slower then the price on mt.gox rises -> spread is growing. And no way to day trade, obviously...
Arbitragers, where are you when we need you?
I'm all in as well, what else you gonna do during a slow steady rise...
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ManBearPig
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May 23, 2013, 12:44:12 PM |
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I still expect to see coins priced much lower than $100 at some point in the future but with the current bid walls in place I suspect the price will need to bubble well into overbought territory before it will crash with the kind of velocity required to smash back into double digits.
I'm all in right now.
Just my thoughts.
Definitely all-in, not sure we'll test double digits for some time yet, if ever. Damn that's a statement and a half! The slower we rise, the slower we fall. Institutional investors had better just jump on the bandwagon now if not already on. |
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Miz4r
Legendary
Offline
Activity: 1246
Merit: 1000
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May 23, 2013, 12:45:29 PM |
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The greater the spread, the more people will move over from Gox to bitstamp/btc-e. The bid sum on bitstamp has already increased by 50% the past couple of days, I think this trend will continue for a while.
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icekiss
Member
Offline
Activity: 70
Merit: 10
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May 23, 2013, 12:49:14 PM |
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yes, the order book on bitstamp is already looking way healthier: new bids are appearing, and asks are slowly but steadily getting munched up. It's just taking some time. |
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blackreplica
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May 23, 2013, 12:55:20 PM |
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As much as I like the fact we broke through 125, I am concerned about the trading volume (or lack thereof) lately. The current price levels can hardly be considered meaningful when a single large order could wipe out days-worth of gains (or losses).
From the past few months of trading activity we know for a fact there are huge players out there who just aren't trading now, they just sit on the sidelines and they're waiting for something. If they decide to get back in, it may not be pretty
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 23, 2013, 12:56:40 PM |
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Breaking $125 feels good  |
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