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SlipperySlope (OP)
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July 25, 2011, 03:27:42 PM |
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I sold my 12 month hoard of bitcoins at 15.5 on the way down as the bitcoin bubble deflated. In the past week, the price trend has stopped declining, and a couple of large purchases have not been countered by like sales.
This morning I bought back in via small lots at about 14.1. And I've stopped selling my daily mined bitcoins.
Is the bubble deflated and the rally train leaving the station, or do you guys see more bubble deflation ahead?
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ribuck
Donator
Hero Member
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Activity: 826
Merit: 1039
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July 25, 2011, 03:33:46 PM |
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There are going to be lots of rallies and lots of crashes before Bitcoin stabilizes somewhat. Some of them will make last month's rally and crash seem insignificant by comparison.
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The_JMiner
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Merit: 10
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July 25, 2011, 03:39:12 PM |
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There are going to be lots of rallies and lots of crashes before Bitcoin stabilizes somewhat. Some of them will make last month's rally and crash seem insignificant by comparison.
Agreed I think we have reached a floor at around 11.50-12.50 range where that price is low enough for a lot of people to start buying and then the 15$ range seems to be the ideal sell off point. I see things stuck between this range for a LONG time which imo is not a bad thing if start up business want bitcoin stable so they can predict their costs and income. |
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Bitcoin Swami
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July 25, 2011, 03:58:06 PM |
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I sold my 12 month hoard of bitcoins at 15.5 on the way down as the bitcoin bubble deflated. In the past week, the price trend has stopped declining, and a couple of large purchases have not been countered by like sales.
This morning I bought back in via small lots at about 14.1. And I've stopped selling my daily mined bitcoins.
Is the bubble deflated and the rally train leaving the station, or do you guys see more bubble deflation ahead?
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SgtSpike
Legendary
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Activity: 1400
Merit: 1005
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July 25, 2011, 04:02:59 PM |
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Doesn't seem to be going anywhere... 14.3 is all.
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GeniuSxBoY
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July 25, 2011, 04:03:49 PM |
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The big declines are not upto us. It's upto the holder of 10000 btc
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Be humble!
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enmaku
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July 25, 2011, 04:07:30 PM |
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a couple of large purchases have not been countered by like sales.
The only time there is such a thing as a purchase or a sale is when they are still outstanding. Every big sale requires buyers and every big buy requires sellers. |
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SlipperySlope (OP)
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July 25, 2011, 04:39:34 PM |
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a couple of large purchases have not been countered by like sales.
The only time there is such a thing as a purchase or a sale is when they are still outstanding. Every big sale requires buyers and every big buy requires sellers. What I meant was two periods in which prices moved sharply upwards on much higher volume, suggesting perhaps two large orders to buy at market. This behavior is contrary to what happened earlier in the month - from the 11th to the 18th - in which prices moved lower during some periods of atypical high volume, suggesting large orders to sell at market. |
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enmaku
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July 25, 2011, 04:41:42 PM |
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a couple of large purchases have not been countered by like sales.
The only time there is such a thing as a purchase or a sale is when they are still outstanding. Every big sale requires buyers and every big buy requires sellers. What I meant was two periods in which prices moved sharply upwards on much higher volume, suggesting perhaps two large orders to buy at market. This behavior is contrary to what happened earlier in the month - from the 11th to the 18th - in which prices moved lower during some periods of atypical high volume, suggesting large orders to sell at market. Much better  Also, quite true. I'm expecting some nice long-term gains - wouldn't be surprised at all to see $20 before the end of the month. |
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cbeast
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Legendary
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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July 29, 2011, 01:55:44 PM |
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Don't forget that right now Mt Gox is allowing certain privileged traders to exchange with no fees. IMHO they are holding the price down by squeezing micro profits out of trades. This will end in a week or so. Don't forget, there are a lot of new products being released and new announcements of products expected in the next few weeks.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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xjosx
Newbie
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Activity: 33
Merit: 0
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July 29, 2011, 02:17:57 PM |
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Don't forget that right now Mt Gox is allowing certain privileged traders to exchange with no fees. IMHO they are holding the price down by squeezing micro profits out of trades. This will end in a week or so. Don't forget, there are a lot of new products being released and new announcements of products expected in the next few weeks.
Not true. Us zero fee traders are back up to 0.3% fees as of a few days ago. |
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cbeast
Donator
Legendary
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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July 29, 2011, 02:38:01 PM |
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Don't forget that right now Mt Gox is allowing certain privileged traders to exchange with no fees. IMHO they are holding the price down by squeezing micro profits out of trades. This will end in a week or so. Don't forget, there are a lot of new products being released and new announcements of products expected in the next few weeks.
Not true. Us zero fee traders are back up to 0.3% fees as of a few days ago. Mea Culpa. Privileged traders are trading at 0.3% until August 9 and able to squeeze profits the non privileged traders, thus possibly driving prices down. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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notme
Legendary
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Activity: 1904
Merit: 1002
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July 29, 2011, 05:20:41 PM
Last edit: July 29, 2011, 05:40:19 PM by notme |
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Don't forget that right now Mt Gox is allowing certain privileged traders to exchange with no fees. IMHO they are holding the price down by squeezing micro profits out of trades. This will end in a week or so. Don't forget, there are a lot of new products being released and new announcements of products expected in the next few weeks.
Not true. Us zero fee traders are back up to 0.3% fees as of a few days ago. Mea Culpa. Privileged traders are trading at 0.3% until August 9 and able to squeeze profits the non privileged traders, thus possibly driving prices down. First, with 0.3% on both sides, you need close to an eight cent spread to break even. Second, regardless of fees, if you hold the price against the view of the market, you will lose money. Quit looking for a conspiracy and you just might see things more clearly. |
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Sannyasi
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July 29, 2011, 05:36:38 PM |
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i did ALOT more trading when i didn't have any transaction fees, so it may keep it down a little bit but i doubt it'd make a huge difference
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MatthewLM
Legendary
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Activity: 1190
Merit: 1004
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July 29, 2011, 10:50:41 PM |
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I was thinking bitcoin was quite volatile but its completely changed. I hope it does get moving or I'll have to try my algorithm out on something different.
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cbeast
Donator
Legendary
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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July 30, 2011, 12:14:46 PM |
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It appears that trading volume is grinding to a standstill. It looks like nobody wants to sell bitcoin cheap no more.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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andrepcg
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July 30, 2011, 12:16:51 PM |
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It appears that trading volume is grinding to a standstill. It looks like nobody wants to sell bitcoin cheap no more.
It looks like nobody wants to sell bitcoin cheap no more, nor buy high |
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