wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
October 24, 2013, 02:33:58 PM |
|
Heading back to $220 on Gox IMHO. Haha, thanks I totally missed this crash. I woke up and saw $204 instead of the $228 I saw last night and was wondering why anyone used the term crash for a 10% correction
|
|
|
|
spooderman
Legendary
Offline
Activity: 1652
Merit: 1029
|
|
October 24, 2013, 02:36:45 PM |
|
Holy shit, it's gonna be another green candle by the end of today
|
|
|
|
NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
|
|
October 24, 2013, 02:38:25 PM |
|
Haha, thanks I totally missed this crash. I woke up and saw $204 instead of the $228 I saw last night and was wondering why anyone used the term crash for a 10% correction I'd still say it will just have been a large correction, not a crash. That trader that sold 10k all at once is really what caused this to be as deep as it was. I was figuring a pull back to 200 at least was in order, but when people suddenly see the price at 185 because of ONE sell, they will panic.
|
|
|
|
stereotype
Legendary
Offline
Activity: 1554
Merit: 1000
|
|
October 24, 2013, 02:42:42 PM |
|
So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...
That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL
that's not really a crash. more like a correction. i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that. this is pure speculation I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand? those 200k btc were not marketable and could not be touched since the july filing... what happens to price when the supply curve moves out? ths is not demand for 200k btc this is a supply of 200k btc being SOLD to the public, supply that was not available since the twins purchased it what happens when shareholders lock outs are done? econ 101.... Still don't see why the shareholders would instantly sell their BTC and cause a sell off the moment they are unlocked. Price could just as well go up because of greater exposure to the public. And 99% of the people cannot sell. Only market makers can redeem or create new, baskets. So what is needed is the price of the ETF to drop sufficiently below market price for market makers to arbitrage and redeem baskets of Bitcoins and earn on the arbitrage. I thought the premise of the ETF was to allow an instrument to short the market, with an intent to bring some price stability. This in turn, is supposedly going to make Bitcoin more attractive to a broader user base/merchants.
|
|
|
|
NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
|
|
October 24, 2013, 02:43:21 PM |
|
My 401K will be a part of the inflow of 401K money into the Winklevoss BCT. I doubt the trust will drive prices lower. Money that can already buy that wants to buy BTC will have done so. Money that currently can not buy BTC that wants to buy it may. If that money overflows the trust holdings, the trust may buy and so may drive the price higher.
People that want BTC to USE IT won't be buying trust shares, it is for stagnant money, like 401Ks and pension trusts and such.
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
October 24, 2013, 02:47:10 PM |
|
So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...
That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL
that's not really a crash. more like a correction. i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that. this is pure speculation I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand? those 200k btc were not marketable and could not be touched since the july filing... what happens to price when the supply curve moves out? ths is not demand for 200k btc this is a supply of 200k btc being SOLD to the public, supply that was not available since the twins purchased it what happens when shareholders lock outs are done? econ 101.... Still don't see why the shareholders would instantly sell their BTC and cause a sell off the moment they are unlocked. Price could just as well go up because of greater exposure to the public. And 99% of the people cannot sell. Only market makers can redeem or create new, baskets. So what is needed is the price of the ETF to drop sufficiently below market price for market makers to arbitrage and redeem baskets of Bitcoins and earn on the arbitrage. I thought the premise of the ETF was to allow an instrument to short the market, with an intent to bring some price stability. This in turn, is supposedly going to make Bitcoin more attractive to a broader user base/merchants. Sure you short the ETF (not Bitcoin directly). That doesn't sound like very important use case though.
|
|
|
|
ghostshirt
|
|
October 24, 2013, 03:03:07 PM |
|
How do we read this kind of charts My first time here.
|
|
|
|
EatonABooger
Member
Offline
Activity: 151
Merit: 36
|
|
October 24, 2013, 03:04:10 PM |
|
My 401K will be a part of the inflow of 401K money into the Winklevoss BCT. I doubt the trust will drive prices lower. Money that can already buy that wants to buy BTC will have done so. Money that currently can not buy BTC that wants to buy it may. If that money overflows the trust holdings, the trust may buy and so may drive the price higher.
People that want BTC to USE IT won't be buying trust shares, it is for stagnant money, like 401Ks and pension trusts and such.
+1 I would suggest all 401k to hold gold/metals and hopefully this new ETF. getting out of anything tied to US$ might be a good idea. The FED reserve is out of control and not accountable to anyone. scary stuff.
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
October 24, 2013, 03:09:20 PM |
|
How do we read this kind of charts My first time here. we need a manuale we had a picture that explained it but that was last year and its lost now this is a depth chart showing the pas 10-30mins of depth. the bids all piled up together on one side the asks all piled up together on the other side
|
|
|
|
spooderman
Legendary
Offline
Activity: 1652
Merit: 1029
|
|
October 24, 2013, 03:10:00 PM |
|
How do we read this kind of charts My first time here. we need a manuale we had a picture that explained it but that was last year and its lost now this is a depth chart showing the pas 10-30mins of depth. the bids all piled up together on one side the asks all piled up together on the other side it shows the past hour, every hour.
|
|
|
|
Rannasha
|
|
October 24, 2013, 03:12:26 PM |
|
How do we read this kind of charts My first time here. They're charts of the bid and ask depth. Taking a single cross-section, and plotting it as a regular graph, you have something that looks like this: (but with different colours) On the x-axis is the price, the order-volume is on the y-axis. The bids are on the left, the asks on the right. A steep slope in for example the bid-section means that it'll take a lot of coins sold to decrease the price. Similarly on the ask-side, where a steep or vertical slope indicates a resistance to a price increase by buyers. These types of graphs give an impression of the market sentiment beyond what the price tells you. A high volume on the bid side, means that the price is unlikely to decrease a lot for example. The graphs that ChartBuddy posts are the same type of graph, but then many snapshots combined into a single chart, allowing you to see both the development of the price (where the red and green curves meet is where the price is at) over the last hour as well as the development of the depth. Whether there were any walls created or removed, etc...
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
October 24, 2013, 03:19:23 PM |
|
That's it folks. I sold all Failure to overcome previous ATH creates a massive double top, it is hard to say where the price will go, but in 6 months my guess would be in the $13-$50 range. Thank you LMAO!!!!!!!!!!!!!!!!
|
|
|
|
MoreFun
Legendary
Offline
Activity: 1008
Merit: 1003
WePower.red
|
|
October 24, 2013, 03:21:38 PM |
|
Not again... Everyone has tickets?
|
|
|
|
NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
|
|
October 24, 2013, 03:22:16 PM |
|
That's it folks. I sold all Failure to overcome previous ATH creates a massive double top, it is hard to say where the price will go, but in 6 months my guess would be in the $13-$50 range. Thank you LMAO!!!!!!!!!!!!!!!! LOL what a joke! But we are only a month or so away from those fabled $100,000 a piece coins.
|
|
|
|
San1ty
|
|
October 24, 2013, 03:23:18 PM |
|
Doubters panicked and let their bitcoins go... I took my chances, scooped in all my loan advances... and now I'm just holding for the longest time!
HOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOLD
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
October 24, 2013, 03:31:51 PM |
|
That's it folks. I sold all Failure to overcome previous ATH creates a massive double top, it is hard to say where the price will go, but in 6 months my guess would be in the $13-$50 range. Thank you the hell? not sure if joking. If he's not joking they gave him a very weird treatment at that hospital LOL
|
|
|
|
Sitarow
Legendary
Offline
Activity: 1792
Merit: 1047
|
|
October 24, 2013, 03:40:17 PM |
|
|
|
|
|
ghostshirt
|
|
October 24, 2013, 03:40:40 PM |
|
How do we read this kind of charts My first time here. They're charts of the bid and ask depth. Taking a single cross-section, and plotting it as a regular graph, you have something that looks like this: (but with different colours) On the x-axis is the price, the order-volume is on the y-axis. The bids are on the left, the asks on the right. A steep slope in for example the bid-section means that it'll take a lot of coins sold to decrease the price. Similarly on the ask-side, where a steep or vertical slope indicates a resistance to a price increase by buyers. These types of graphs give an impression of the market sentiment beyond what the price tells you. A high volume on the bid side, means that the price is unlikely to decrease a lot for example. The graphs that ChartBuddy posts are the same type of graph, but then many snapshots combined into a single chart, allowing you to see both the development of the price (where the red and green curves meet is where the price is at) over the last hour as well as the development of the depth. Whether there were any walls created or removed, etc... Thank you and also other repliers as well..
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
October 24, 2013, 03:41:54 PM |
|
also i wonder if some of this was due to short term loans coming due on bitfinex...
I'm sure there have been some forced liquidations (longs getting zhou-tonged)
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
October 24, 2013, 03:47:55 PM |
|
That's it folks. I sold all Failure to overcome previous ATH creates a massive double top, it is hard to say where the price will go, but in 6 months my guess would be in the $13-$50 range. Thank you LMAO!!!!!!!!!!!!!!!! loooooooooool!
|
|
|
|
|