Am I the only one that finds this brief period of stability surprising?

[chriswilmer]

There is no way that the market could have anticipated all of the latest news that has gone viral.

[newtothescene]

I have a lot of trust and hope for the crypto-currency space, but one thing I have noticed is that there is no real stability.  I think of it more like the stock market or even roulette at the casino.  Just because for the past x days a stock trades at $y doesn't mean we have any idea if it will go up/down/stay today.  Same with roulette - getting black 50 times in a row doesn't mean more black or that red is "due" to hit soon.  Same way with this market right now.  Things go up and down so quickly and often times for reasons that don't make sense or are obvious to most market players. 

That being said, the recent rise to $200 is nice and I hope it stays for a while

[Walsoraj]

There is no way that the market could have anticipated all of the latest news that has gone viral.

We are not "stable" until single traders (or small groups) are unable to crash the price to single digits.

We are a house of cards.

You idiot.

[rocks]

Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down.

[chriswilmer]

I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this.

Does anyone else have a competing theory?

[leemar]

I suspect for noobs, $200 sounds a lot for 1 of anything especially if you don't really know what that thing is,  oh and then you hear they cost $13 in January.

Of course this is not the point and when new use cases arise, next week, next month, next year the number won't matter.

[TERA]

I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this.

Does anyone else have a competing theory?

An invisible multi exchange sell wall.

[SheHadMANHands]

Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much. 

That there deposit lag.

[TERA]

Hey maybe this wasn't a glitch but a brief screwup in the sellers hidden order system. Maybe this is why the i286 a pi is taken down. Someone might have a lawsuit on their hands even.

[chriswilmer]

I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this.

Does anyone else have a competing theory?

An invisible multi exchange sell wall.

True... how could we tell the difference?

[benjamindees]

Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down.

Right.  That would be normal for a growing currency.  Stability creates a basis for profitable trade.  Profitable trade increases the currency's utility, attracting new users and raising the value.

[adamstgBit]

There is no way that the market could have anticipated all of the latest news that has gone viral.

bitcoin isn't "going viral"... bitcoin is a phenomena that first manifested in 2010, it will continue to fascinate poeple for ever.

 

Am I the only one that finds this brief period of stability surprising?

no i'm not surprised. its actually scary watching the market reacting to all this news, i want to buy... dont you? don't you wish the FBI sold us their bitcoins already. 

[windjc]

Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down.

Right.  That would be normal for a growing currency.  Stability creates a basis for profitable trade.  Profitable trade increases the currency's utility, attracting new users and raising the value.

The question is, if your right, how long does the consolidation last. Everyone seems to assume that its been a long time, although its actually only been a few days. Could it last a few weeks, a month, longer?

[JimboToronto]

I suspect for noobs, $200 sounds a lot for 1 of anything

How does $2 for a million satoshis sound?

[omehenk]

Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much.  

That there deposit lag.

New money is coming in,I sold to first time buyers , this was bye far my best week ever.    


H

[adamstgBit]

I suspect for noobs, $200 sounds a lot for 1 of anything

How does $2 for a million satoshis sound?

sounds, about right.

[chriswilmer]

Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much.  

That there deposit lag.

New money is coming in,I sold to first time buyers , this was bye far my best week ever.    


H

Why did you sell? Do you think this is the top?

[Jabbatheslutt]

I though it would have crashed by now.

[omehenk]

Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much.  

That there deposit lag.

New money is coming in,I sold to first time buyers , this was bye far my best week ever.    


H

Why did you sell? Do you think this is the top?

No , am Long.
But am a trader. 

I dont sell MY coins.


H

[Flashman]

I'm trying to go longer than a 50 year old Burmese python, but having to bleed a BTC here and there for the bills. But it's great not to have to bleed too many for the required fiat.