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btc237ftw (OP)
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June 18, 2013, 02:51:57 PM |
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Does anyone know (no speculation please) why the Bitcoin jumped by about 10% in a very short period of time?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Shermo
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June 18, 2013, 02:57:10 PM |
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Because more BTC was bought than sold?
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Spekulatius
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June 18, 2013, 03:15:53 PM |
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Bitcoin?
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VolanicEruptor
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June 18, 2013, 03:18:09 PM |
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Bitcoin?
Like JELLO, but not edible. |
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kjj
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June 18, 2013, 03:18:50 PM |
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Because more BTC was bought than sold?
Heh. That would be a neat trick. |
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I routinely ignore posters with paid advertising in their sigs. You should too.
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cr1776
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June 18, 2013, 03:36:50 PM |
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Besides the obvious that more people wanted to buy than people who wanted to sell at the lower price and it reached equilibrium at a higher price, there is no way to know underlying reasons.  Does anyone know (no speculation please) why the Bitcoin jumped by about 10% in a very short period of time?
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JimboToronto
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You're never too old to think young.
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June 18, 2013, 03:51:14 PM |
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Does anyone know (no speculation please) why the Bitcoin jumped by about 10% in a very short period of time?
Speculators. |
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lerelerele
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June 18, 2013, 03:54:17 PM |
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Does anyone know (no speculation please) why the Bitcoin jumped by about 10% in a very short period of time?
In the last three months the bitcoin tends to rise at the end of the month and down to the beginning of next month. |
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Buffer Overflow
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June 18, 2013, 03:54:36 PM |
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Because more BTC was bought than sold?
Well that makes no sense? |
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BitcoinAshley
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June 18, 2013, 03:55:35 PM |
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Supply and demand, baby. And bitcoin is in demand.  |
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Koekiemonster
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Bitbuy.nl!
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June 18, 2013, 03:58:15 PM
Last edit: June 18, 2013, 08:15:27 PM by Koekiemonster |
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Because more BTC was bought than sold?
An equal number of BTC were bought and sold, but on an average higher price than yesterday.. |
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randrace
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LTC -> BTC -> Silver!
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June 18, 2013, 04:42:44 PM |
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I'm wondering too, that was an odd jump.
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BitPirate
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RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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June 18, 2013, 05:17:11 PM |
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Because some people sold off prior to the weekend, as they expected that whoever dumped on the last two Sundays in a row would do it again, and this time they wanted to sell before the dip and buy back before the rebound.
The big sell-off never came, and so they inevitably bought back, bringing us back to pretty much exactly the price we were at before last Thursday.
Which just goes to underscore that the downward price pressure has been due to manipulators. This question ("Why") should be asked much more readily after sharp declines I reckon.
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TTBit
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June 18, 2013, 05:38:04 PM |
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The large increase in difficulty from late sunday night could have an effect. Less coins for new miners to sell.
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good judgment comes from experience, and experience comes from bad judgment
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Abandon
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June 18, 2013, 06:21:02 PM |
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The price stabilized at around 100, and then we finally broke a significant resistance, and now we're free!
That sums it up pretty much.
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GaiusMaximus
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June 19, 2013, 06:17:35 AM |
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Bitcoin follows the Fibonacci sequence  |
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dnaleor
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Want privacy? Use Monero!
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June 19, 2013, 06:40:53 AM |
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made 0.4 BTC profit thanks to this jump  |
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massivebitman
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June 19, 2013, 02:31:31 PM |
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I have a theory.. All will be revealed in due course. He he he.
I'm just hoping for another dip over the weekend. Pretty sure it's coming.
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BitcoinAshley
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June 19, 2013, 06:31:51 PM |
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Price jumped because BTC market was able to anticipate FOMC news before it was even over - whatever came out of it would be bullish for BTC, regardless of the content. Taper or no taper? Rose-colored glasses or shit-covered goggles? Doesn't matter. All bullish for BTC, the honey badger of money. Now, wait for no BTC action after the 2:30 press conference, but the legacy markets will all go crazy. See, they actually have to depend on the contents of the vomit that spews forth from the statist bureaucracy. Sucks for them  For us, the mere EXISTENCE of a statist money-controlling bureaucracy is super-bull for bitcoin, and something like an FOMC meeting is just a pleasant reminder to buy more. |
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