Is anyone worried how fast BTC is climbing in price?

[trinaldao]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

[MAbtc]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

[nobbynobbynoob]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

[trinaldao]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

This is parabolic now is it not?

[MAbtc]

I'm a bit worried.  

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though.  

This is parabolic now is it not?

Hmmm. Yes, I suppose so. We're obviously consolidating right now, so I'll say, i still got plenty to sell if this continues to go parabolic after we consolidate. Could go either way, though, from here.

[trinaldao]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

I totally agree, Gold (though, the price is totally manipulated nowadays) and bitcoin (and a basket of currencies GBP/YEN/EUR/CHF and AUD) you will know its going south.

But for gold it's easy to know whats happening now.  Governments colude to keep it down to avoid panic.  This baby (printing fiat like there is no tomorrow) will keep working as long as suckers are buying it.  So far its the chinese, but there are a lot of other countries buying it to.

HOWEVER, if BTC is now being manipulated, in order to keep selling the Miners, that would not be a hard thing to do at all.   To get a bit of momentum going.  

I think the difficulty level increase on Friday was a catalyst point.  For the very first time, a shit load of KnC pre-buyers just got a new caluculation as to how BAD their investment was.  

So somebody had to do something.  I watching ebay.co.uk on the day, and the bids were going up up up and away for IN HAND BFL/KnC miners.  But when the difficulty went up, the bids dried up FAST.  It was crazy,

http://www.ebay.ie/itm/Knc-Miner-Saturn-IN-HAND-Bitcoin-Asic-275-Gh-sec-/251357439341

The Bids for this Saturn were going for like 2 TIMES the price of a Jupiter.  Then when difficulty rose, the bids seemed to stop and people started getting cooler heads.

So, I guess, KNC/BFL/ETC (Since they have all this extra money now laying around in pre-orders) might have had a temptation to spark some momentum and raise the price, so it would seem like mining was still a profitable experience.

But SHIT, are you trying to tell me that Jupiter and Saturn are profitable when we are in a parabolic state?

i think a lot of people are going to get hurt.

Then again, maybe this is going to go the way of the internet stocks and google, and we see BTC at 900 very shortly, because the current moment got some international news coverage.

i dunno, all i know, is that THIS is the way we do it on equities.  We start momentum and get PR all over it.  And sell HI

BTC is being raped I think.  Because we are able to manipulate it with FIAT.  I don't think Wei Dei (or satoshi) though of this one!!

Price of BTC = Mining PreOrder Sales/difficulty level LOL

[Spaceman_Spiff]

So,
Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.
Is this not worrying anyone?
Who is injecting all this money anyway?  
Is the ASIC producers in China trying to keep the value up to sell the miners?
It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?
We are losing stability here, I think.

Let me offer some perspective:
http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zl

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

[SheHadMANHands]

Some perspective (note we're down from $172 to $164 almost 2 days ago).  "Losing stability"?

[Spaceman_Spiff]

Some perspective (note we're down from $172 to $164 almost 2 days ago):

Are you my long lost doppelganger?  And if so, are you the evil of the good one ?  

[Elwar]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

The Silk Road crash jerked us out of stability. The price is trying to find its new home.

[SheHadMANHands]

Some perspective (note we're down from $172 to $164 almost 2 days ago):

Are you my long lost doppelganger?  And if so, are you the evil of the good one ?  

hey hey hey...  beat me to it. 

[trinaldao]

The Silk Road crash jerked us out of stability. The price is trying to find its new home.

I think the Silk Road Incident, was just capitulation.  When there is capitulation in the markets the price usually goes up (or down depending on the trend)


Does anyone have the figures for these charts?!?!  If I could get my hands on the

OHLC  (open-high-Low-close)  I can input it into my MetaStock EoD and analyse the charts.

The longer further back the better.

But I think it is the traders of BTC that is messing this up, they dont have to follow any rules here, it is out of the SEC (or any legal body's) jurisdiction.

With the added danger that BTC is getting the same level of Television Coverage as GM during Distribution Periods.

i just found the RAW DATA thanks to you guys, I will put a proper LOG chart

[SheHadMANHands]

Adoption curve?       

[600watt]

awesome, please put it in memespeculation thread! 

[BitcoinAshley]

There are still SO many people who think parabolic is the only possible shape for price increases. S-shape is a perfectly viable option. And seeing as we aren't at the bottom of the $13-$266 jump, that wasn't parabolic in the sense that most people use the word.

"What goes up must come down" - yes but in what time-frame?

You could say the AM radio has become obsolete but there is one in almost every automobile in existence, as well as on countless portable CD/radio devices. It's so ubiquitous we don't even think about it anymore. S-shape.

Watch out for people who start out with an unstated assumption that parabola is the only possible shape for price moves, without even entertaining any other possibilities.

[imrer]

There are many peoples who don't know bitcoin yet so I believe price will be much higher than now. I don't worry about it.

[johnyj]

Difficulty jumps at least 30% every 10 days, but we are just start to see a 30% rise in price since September, very reasonable pace

[the joint]

Some notes to remember about Bitcoin.

1) It's a different market, and the world hasn't seen one like it as far as I'm aware.  Thus, to make the assumption that you can analyze or predict the economy based upon effective market analysis tactics in the same way that you would analyze fiat currencies or the gold markets isn't necessarily true.

2) If you do some research about Bitcoin and simply look at the math behind it, mass adoption of Bitcoin would likely necessitate the formation of what would appear to be some of the most gargantuan bubbles ever seen.  Hell, even an influx of only 1% of the worlds GDP over the course of a few years would create a 'bubble' so large that our heads would be spinning in euphoric delirium.

3) New systems, let alone economic ones, are prone to mass instability/volatility.  They have to be, and this is an inevitable result between the ratio in size between the smaller system and the larger system(s) in which it is nested, and with which it receives and relays its inputs and outputs.  As systems grow and become more balanced, the effects of "extreme cases" (in Bitcoin, these are your whales and your 'manipulators') are minimized.

TL;DR:  If you've been around this market for more than a year or two, $20-$30 swings in a day isn't very shocking...you just take this into account when safeguarding your assets.

[sinner]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

[trinaldao]

Difficulty jumps at least 30% every 10 days, but we are just start to see a 30% rise in price since September, very reasonable pace

Is there a correlation you think?  I mean apart from possible ASIC companies pushing up price, so their business model does not fail?

Here is the 2013 chart I put together (you need FireFox to view though)