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gandhibt
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October 22, 2013, 07:29:54 PM |
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hmmmm.... charts look like double tops (except btcchina's spiky top)....  My idea exactly. I think we might be at the top. Or near it. You're looking at the wrong timeframe:  |
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wasserman99
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October 22, 2013, 07:33:22 PM |
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hmmmm.... charts look like double tops (except btcchina's spiky top).... My idea exactly. I think we might be at the top. Or near it. You're looking at the wrong timeframe: maybe but it's more like  |
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prophetx
Legendary
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Activity: 1666
Merit: 1010
he who has the gold makes the rules
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October 22, 2013, 07:42:02 PM |
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The spread between Gox and Bitstamp is the smallest its been in a while, percentage-wise. Its only around 5%. this either means that Gox isn't high enough & will go higher in the future, Bitstamp is too high, or perhaps the arbitrage channels are opening up again.
well, if Gox is selling BTC it does not have that % difference should be going down. exactly, dump some fractional reserve bitcoins on the exchange and suppress the price. oh, Gox!  trivia question: when was the last time that the price divergence between gox and bitstamp was this thin, and what happened in the days following? |
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molecular
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Activity: 2772
Merit: 1019
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October 22, 2013, 08:39:49 PM |
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I personally think what we see is a kind of bull-flag-like pennant. I know it doesn't match the pattern (no lower lows, no channel), but let's just say: I think the pennant will break upward (or already has) and trend will continue for quite a bit.
Ok, this one (my post was 18 hours ago) broke up. A new such bull-flag-like pennant is forming. I think it will also break upwards. |
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molecular
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Activity: 2772
Merit: 1019
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October 22, 2013, 09:18:55 PM |
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Too much bullish ... intermediate correction going into christmas now i think.
Major trend resumes in mid-January.
Would be ok by me, but seems unlikely. |
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prophetx
Legendary
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Activity: 1666
Merit: 1010
he who has the gold makes the rules
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October 22, 2013, 09:44:52 PM |
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rpietila
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Activity: 1722
Merit: 1036
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October 22, 2013, 09:53:45 PM |
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Extremely bullish! According to this metric, the public in the west has no part in this rally, and can therefore only become a part of it (fueling the rally) or skipping it (rally continues however China sees fit). The public does not have bitcoins to sell, they are in very tight hands already.
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Sword Smith
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October 22, 2013, 10:05:34 PM |
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Extremely bullish! According to this metric, the public in the west has no part in this rally, and can therefore only become a part of it (fueling the rally) or skipping it (rally continues however China sees fit). The public does not have bitcoins to sell, they are in very tight hands already. Would you care to make a guess on what the price will be before 2014? I know predicting the timing is nearly impossible but in the long term you and I agree on the price movements. |
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Sword Smith
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October 22, 2013, 10:06:23 PM |
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It is my impression that Google Trends is a lagging indicator for the price, not a leading one |
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samson
Legendary
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Activity: 2097
Merit: 1070
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October 22, 2013, 10:09:37 PM |
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It is my impression that Google Trends is a lagging indicator for the price, not a leading one That's right |
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MAbtc
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October 22, 2013, 10:11:00 PM |
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Extremely bullish! According to this metric, the public in the west has no part in this rally, and can therefore only become a part of it (fueling the rally) or skipping it (rally continues however China sees fit). The public does not have bitcoins to sell, they are in very tight hands already. Would you care to make a guess on what the price will be before 2014? You're asking rpietila? You know he's gonna say like $10 billion per coin, right? Or perhaps just $300 per mBTC...  |
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Walsoraj
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October 22, 2013, 10:36:12 PM |
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https://support.mtgox.com/entries/21649594-Withdrawals-and-DepositsAbove link updated last week. It states that not only are wire withdrawals to the US disabled, but so are incoming deposits! wtf. where is all the money on gox coming from? My theory is that the money has been sitting off order books since April and is now coming out of the woods, desperately buying bitcoin to get fiat out. This is only half of the capitulation. Other half will be when we finally see the sells on non-gox exchanges. I also suspect that due to no trade fees on btccny (lol), a single entity or two is pumping the price up, hoping all the other exchanges follow. That way the pumper takes less of a hit when selling on non-gox exchanges.
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Walsoraj
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October 22, 2013, 10:37:37 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
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MoreFun
Legendary
Offline
Activity: 1008
Merit: 1003
WePower.red
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October 22, 2013, 10:42:20 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
As long as the number of coins doesn't grow it doesn't matter what money is buying these coins. When coins are back, sell of might come. |
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Walsoraj
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October 22, 2013, 10:45:22 PM |
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Extremely bullish! According to this metric, the public in the west has no part in this rally, and can therefore only become a part of it (fueling the rally) or skipping it (rally continues however China sees fit). The public does not have bitcoins to sell, they are in very tight hands already. This bullish swing is pretty much 95% China as far as I can tell. The volume in China is actually pretty pathetic compared to what we had last April on Gox. Again, supports my theory that a pumper is exploiting the lack of trading fees. |
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windjc
Legendary
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Activity: 2156
Merit: 1070
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October 22, 2013, 10:48:23 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
Easy. $$$ is going into MtGox from countries not called the United States. Gasp! The thought! Plenty of new money is entering exchanges. Lots of it. In Bitstamp and China in particular. |
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Walsoraj
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October 22, 2013, 10:52:38 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
Easy. $$$ is going into MtGox from countries not called the United States. Gasp! The thought! Plenty of new money is entering exchanges. Lots of it. In Bitstamp and China in particular. No, not really. Bid depth on those exchanges pales compared to Gox. All the money is on gox and will not replenish. Current buys = capitulation. |
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damnek
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October 22, 2013, 10:56:20 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
Easy. $$$ is going into MtGox from countries not called the United States. Gasp! The thought! Plenty of new money is entering exchanges. Lots of it. In Bitstamp and China in particular. No, not really. Bid depth on those exchanges pales compared to Gox. All the money is on gox and will not replenish. Current buys = capitulation. If that is the case, then why did the spread between Bitstamp and MtGox decrease? |
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Walsoraj
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October 22, 2013, 10:57:43 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
Easy. $$$ is going into MtGox from countries not called the United States. Gasp! The thought! Plenty of new money is entering exchanges. Lots of it. In Bitstamp and China in particular. No, not really. Bid depth on those exchanges pales compared to Gox. All the money is on gox and will not replenish. Current buys = capitulation. If that is the case, then why did the spread between Bitstamp and MtGox decrease? Irrationality in response to current manipulation. |
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samson
Legendary
Offline
Activity: 2097
Merit: 1070
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October 22, 2013, 10:59:57 PM |
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No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.
For every Bitcoin bought on MtGox one is sold and that money stays in MtGox waiting to be used again. I suspect the USD from coins being sold now will be used to buy cheaper coins after the 'correction'. The Chinese pumper could be buying his own coins over and over gain to inflate the price. With a reasonable chunk of coins this could be done after initially selling only some of them. |
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