mtgox claims $5 to $20 million per day incoming funds...

[smoothie]

Some bullish news: http://www.reddit.com/r/Bitcoin/comments/1cxdrr/reuters_tv_interview_with_mt_gox_in_tokyo/

Inflows: Between $5 million and $20 million / day
Outflows: $300k to $1 million / day

That means that in April between $100 million and $400 million was added to the market. When confidence is restored, the price could go ballistic once again.

very interesting.  

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

[BitcoinAshley]

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Easy - "MtGox is lying"
 

[smoothie]

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Easy - "MtGox is lying"
 

I guess two of the last three charts on the following site are also lying as well right? Bids total is the highest ever. lol. Fail much?

http://blockchained.com/

[Hfleer]

Some bullish news: http://www.reddit.com/r/Bitcoin/comments/1cxdrr/reuters_tv_interview_with_mt_gox_in_tokyo/

Inflows: Between $5 million and $20 million / day
Outflows: $300k to $1 million / day

That means that in April between $100 million and $400 million was added to the market. When confidence is restored, the price could go ballistic once again.

very interesting.  

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Doesn't matter, bears are in denial.

[smoothie]

Some bullish news: http://www.reddit.com/r/Bitcoin/comments/1cxdrr/reuters_tv_interview_with_mt_gox_in_tokyo/

Inflows: Between $5 million and $20 million / day
Outflows: $300k to $1 million / day

That means that in April between $100 million and $400 million was added to the market. When confidence is restored, the price could go ballistic once again.

very interesting.  

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Doesn't matter, bears are in denial.

But of course it matters. I need my entertainment at the Bears' expense. Popcorn is ready and well stocked on my end. Entertain me bears LOL! 

[oakpacific]

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Easy - "MtGox is lying"
 

Try to be creative, it's Mt.Gox moving their own money around over and over again!

PS: Smoothie, what kind of refutation is this? Obviously all of these chart sites are also part of a conspiracy group, and they are lying as well! Everyone is cheating on you, you're being played, SELL!SELL!

[smoothie]

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Easy - "MtGox is lying"
 

Try to be creative, it's Mt.Gox moving their own money around over and over again!

PS: Smoothie, what kind of refutation is this? Obviously all of these chart sites are also part of a conspiracy group, and they are lying as well! Behold at the length Gox goes to cheat noobs out of their money!

ROFL! CONSPIRACY! 

[Spekulatius]

Inflows: Between $5 million and $20 million / day

Outflows: $300k to $1 million / day

That would mean that on average around 15M USD flow into MtGox per day,probably less.
If we discount the rougly 700k USD flowing out we are still at around a 14M USD surplus.

Given that MtGox EUR and USD markets account for around 70 % of the volume on all exchanges, that makes the total money flowing in to the Bitcoin economy roughly 20M USD/day.
http://bitcoincharts.com/charts/volumepie/

At a current market cap of 1400M USD that increases the total market capitalization around 1%/day. Price has been closely related to the market cap in the past, so we can assume that by this 1% increase of market cap a 1% increase in price is justified.
http://blockchain.info/de/charts/market-cap?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

What we have seen over the past 7 days, since the 50USD bottom, is a 23% increase per day. Lets assume we have found the new equilibrium at around 120 USD now, we could expect a 1% price increase per day to be backed and thus justified by the growth in market cap. Anything above that would be unsustainable and deemed to correct itself.

Thoughts?

[blackreplica]

Very nice analysis. Thank you

[smoothie]

Inflows: Between $5 million and $20 million / day

Outflows: $300k to $1 million / day

That would mean that on average around 15M USD flow into MtGox per day,probably less.
If we discount the rougly 700k USD flowing out we are still at around a 14M USD surplus.

Given that MtGox EUR and USD markets account for around 70 % of the volume on all exchanges, that makes the total money flowing in to the Bitcoin economy roughly 20M USD/day.
http://bitcoincharts.com/charts/volumepie/

At a current market cap of 1400M USD that increases the total market capitalization around 1%/day. Price has been closely related to the market cap in the past, so we can assume that by this 1% increase of market cap a 1% increase in price is justified.
http://blockchain.info/de/charts/market-cap?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

What we have seen over the past 7 days, since the 50USD bottom, is a 23% increase per day. Lets assume we have found the new equilibrium at around 120 USD now, we could expect a 1% price increase per day to be backed and thus justified by the growth in market cap. Anything above that would be unsustainable and deemed to correct itself.

Thoughts?

This assumes that buyers/sellers are "rational".

[Piper67]

Inflows: Between $5 million and $20 million / day

Outflows: $300k to $1 million / day

That would mean that on average around 15M USD flow into MtGox per day,probably less.
If we discount the rougly 700k USD flowing out we are still at around a 14M USD surplus.

Given that MtGox EUR and USD markets account for around 70 % of the volume on all exchanges, that makes the total money flowing in to the Bitcoin economy roughly 20M USD/day.
http://bitcoincharts.com/charts/volumepie/

At a current market cap of 1400M USD that increases the total market capitalization around 1%/day. Price has been closely related to the market cap in the past, so we can assume that by this 1% increase of market cap a 1% increase in price is justified.
http://blockchain.info/de/charts/market-cap?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

What we have seen over the past 7 days, since the 50USD bottom, is a 23% increase per day. Lets assume we have found the new equilibrium at around 120 USD now, we could expect a 1% price increase per day to be backed and thus justified by the growth in market cap. Anything above that would be unsustainable and deemed to correct itself.

Thoughts?

You're not factoring at all the off-exchange purchases, be them through person-to-person interactions (quite sizeable at times, if rpetilia is to be believed) or Tradehill dark pools. There could be a lot more fiat flowing into the ecosystem.

[Spekulatius]

Inflows: Between $5 million and $20 million / day

Outflows: $300k to $1 million / day

That would mean that on average around 15M USD flow into MtGox per day,probably less.
If we discount the rougly 700k USD flowing out we are still at around a 14M USD surplus.

Given that MtGox EUR and USD markets account for around 70 % of the volume on all exchanges, that makes the total money flowing in to the Bitcoin economy roughly 20M USD/day.
http://bitcoincharts.com/charts/volumepie/

At a current market cap of 1400M USD that increases the total market capitalization around 1%/day. Price has been closely related to the market cap in the past, so we can assume that by this 1% increase of market cap a 1% increase in price is justified.
http://blockchain.info/de/charts/market-cap?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

What we have seen over the past 7 days, since the 50USD bottom, is a 23% increase per day. Lets assume we have found the new equilibrium at around 120 USD now, we could expect a 1% price increase per day to be backed and thus justified by the growth in market cap. Anything above that would be unsustainable and deemed to correct itself.

Thoughts?

This assumes that buyers/sellers are "rational".

Correct. I expect price to detach from the "justified by market cap" levels soon, hence my closing phrase: "Anything above that would be unsustainable and deemed to correct itself."

[SAQ]

Are there any bears left?

A week or two ago there were indications that it was going down, but right now the buying pressure seems immense.

[Spekulatius]

Inflows: Between $5 million and $20 million / day

Outflows: $300k to $1 million / day

That would mean that on average around 15M USD flow into MtGox per day,probably less.
If we discount the rougly 700k USD flowing out we are still at around a 14M USD surplus.

Given that MtGox EUR and USD markets account for around 70 % of the volume on all exchanges, that makes the total money flowing in to the Bitcoin economy roughly 20M USD/day.
http://bitcoincharts.com/charts/volumepie/

At a current market cap of 1400M USD that increases the total market capitalization around 1%/day. Price has been closely related to the market cap in the past, so we can assume that by this 1% increase of market cap a 1% increase in price is justified.
http://blockchain.info/de/charts/market-cap?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

What we have seen over the past 7 days, since the 50USD bottom, is a 23% increase per day. Lets assume we have found the new equilibrium at around 120 USD now, we could expect a 1% price increase per day to be backed and thus justified by the growth in market cap. Anything above that would be unsustainable and deemed to correct itself.

Thoughts?

You're not factoring at all the off-exchange purchases, be them through person-to-person interactions (quite sizeable at times, if rpetilia is to be believed) or Tradehill dark pools. There could be a lot more fiat flowing into the ecosystem.

Thats true, I just sticked to what we "know" and we can see. There is a market off the exchanges but no numbers have been verified so its everybodies guess what size this market has and whether more money enters or leaves the Bitcoin economy through it. I think the off exchanges market is about 1/10th of the volume size, the exchanges cover, so it wouldnt have too much of an influence on the outcome of my calculation, but again thats just ball park guessing.

[SlipperySlope]

Hey I am a bear for the next few months, and I have been looking over charts from other speculative financial bubbles for guidance - and comfort in the face of this very dramatic rally from $50 to over $134 as of this writing.

I believe this is a classic bear market rally. I expect to sell more into it later this week on the hopes it reaches $180.

[ElectricMucus]

Ever sold some of your BTC and didn't withdraw the USD because you wanted to make more of it?

That's the majority.

[massivebitman]

Man, the fact that that money's not going out means people are thinking about putting it back in.

I think we're on the verge of another bubble... already!

This time I'm betting we'll be going up, up, up, without the nasty crash of last time.

[nebulus]

More money flows in = more confidence = price hike

[Spekulatius]

Man, the fact that that money's not going out means people are thinking about putting it back in.

I think we're on the verge of another bubble... already!

This time I'm betting we'll be going up, up, up, without the nasty crash of last time.

The fact that there is so little delay between those bubbles makes me think that this time we will have higher highs and probably higher lows then during the last bubble but not that much difference in between. Maybe we'll top out at 350$/BTC or so but we wont go to 1000$ straight away because not much has changed during the last bubble. Infrastructure still has to be built, money has to flow in, people have to wrap their heads around it before they invest.
After the coming bubble's burst we shoud be able to see the big underlying trend and trend channel that all the coming bubbles will follow for some time.
I envision something like that:

[BitcoinAshley]

Okay bears now is your chance to be creative on how $5 to $20 million incoming cash per day into bitcoin will send the price lower.....LAWL  

Easy - "MtGox is lying"
 

I guess two of the last three charts on the following site are also lying as well right? Bids total is the highest ever. lol. Fail much?

http://blockchained.com/

Don't worry, I was 100% trolling. I'm more than a bull, I'm a bull moose: