Bitcoin Value by Christmas

[EuroTrash]

dudes.  Look at the order book.

https://www.bitstamp.net/market/order_book/


See that very shallowly sloping line on the left?  That's bids.

See the cliff on the right?  That's asks.

Looking at this, it appears that you have deep demand and short supply.  Usually that means a price goes down.

You're cute.

[1715646232]

1715646232

[sgbett]

$720

[the_sunship]

1500-2000 at least....

we've got a almost a month before Dec 25th. Remember the price a month ago?

[jonat3]

dudes.  Look at the order book.

https://www.bitstamp.net/market/order_book/


See that very shallowly sloping line on the left?  That's bids.

See the cliff on the right?  That's asks.

Looking at this, it appears that you have deep demand and short supply.  Usually that means a price goes down.

Orderbooks are only part of the story. Those walls on bitstamp have been up for awhile, yet each time the price went crashing down, someone has been buying back up. The price has been kept stable for quite awhile. Why, even though those walls are like the walls of Jericho? Simply because people are eager to get past the 1000 dollar wall. They know that this is the cheapest that coins will get, because competition for those coins is fierce when right in front of a psychological treshold. And people who have large btc holdings know that people get frenzied right before a psychological treshold, so they make use of this situation in order to safely monetize their stock of btc without affecting the price too much. This results in a stalemate. But that wall won't last forever. Expect an explosion in price when it comes down.

[shmadz]

dudes.  Look at the order book.

https://www.bitstamp.net/market/order_book/


See that very shallowly sloping line on the left?  That's bids.

See the cliff on the right?  That's asks.

Looking at this, it appears that you have deep demand and short supply.  Usually that means a price goes down.

Orderbooks are only part of the story. Those walls on bitstamp have been up for awhile, yet each time the price went crashing down, someone has been buying back up. The price has been kept stable for quite awhile. Why, even though those walls are like the walls of Jericho? Simply because people are eager to get past the 1000 dollar wall. They know that this is the cheapest that coins will get, because competition for those coins is fierce when right in front of a psychological treshold. And people who have large btc holdings know that people get frenzied right before a psychological treshold, so they make use of this situation in order to safely monetize their stock of btc without affecting the price too much. This results in a stalemate. But that wall won't last forever. Expect an explosion in price when it comes down.

agreed on the orderbooks part, I prefer to just watch the price action and see if it matches or defies my expectations. Right now price on gox has been just bashing it's head against a roughly 1090 resistance. Someone once told me the more times you test resistance, the more likely that you will break through.

On the flipside are the stamp and -e prices, -e is at 907 right now! with gox at 1078! It appears we have some non-believers. (or the gox peeps just can't get their fiat out so they are transferring into btc just to get out.) <-*I can't speak from experience, it's just something I heard.

[shmadz]

1255 on christmas day, just a hunch

[Foxpup]

$1,750

[BitchicksHusband]

Seriously, $1000 would be pretty good.

I didn't realize I was such a bear...

[Cryddit]

Holy Crap!

Look at the order book today!  

Someone has placed a 1.8 million-dollar wall on the 'bid' side! If the price goes down to 925, he or she or they wants to buy damn near 2 million bucks worth of coin.  That looks like a strong price support.  I bet the price won't hit 924 before New years, now, and I had been thinking it would dip below 900.  

Or, if anybody with large holdings wants to sell, they can sell right now without moving the market much. 

https://www.bitstamp.net/market/order_book/

[Okurkabinladin]

$720

I am with you.

[Okurkabinladin]

Holy Crap!

Look at the order book today!  

Someone has placed a 1.8 million-dollar wall on the 'bid' side! If the price goes down to 925, he or she or they wants to buy damn near 2 million bucks worth of coin.  That looks like a strong price support.  I bet the price won't hit 924 before New years, now, and I had been thinking it would dip below 900.  

Or, if anybody with large holdings wants to sell, they can sell right now without moving the market much. 

https://www.bitstamp.net/market/order_book/

It is decent support, but let me ask you a question. Were you around in april? 100k+ of coins were dumped on Gox in several hours. And today 2k wall at Bitstamp was eaten in about five minutes. Several thousands coins are still nothing in this market, if the pressure is strong enough.

[Carra23]

$800-$900

[blacksails]

$1500-$2000? Maybe more. I hope for it to stabilize a bit during december. It should still rise, but not as fast as it has done the last couple of days.

[600watt]

it depends on when the correction comes. if it continues like the last two weeks (very doubtful) it would go past $5000,-
if correction comes tomorrow: $ back up to $ 1500,- by christmas.
if correction comes on the 23rd: down to .... hm... $1500.... 

[terman45x]

Between $1500 and $2500.
Dont underestimate the increased demand after recent media attention...

[Bitcopia]

dudes.  Look at the order book.

https://www.bitstamp.net/market/order_book/


See that very shallowly sloping line on the left?  That's bids.

See the cliff on the right?  That's asks.

Looking at this, it appears that you have deep demand and short supply.  Usually that means a price goes down.

Deep demand would imply there is a lot of demand. Short supply would imply that there is not much supply. Usually that means price goes up.

I think you just chose your words wrong, because the market depth lines that you're describing imply that opposite of deep demand and short supply. But just in case nobody here realized. I don't want the rest of the world believing this community isn't capable of grasping the most elementary aspect of economics. 

Also, I don't know how long you've been looking at order books on digital currency exchanges, but they rarely are useful for anything other than very short term price predictions.

[Cryddit]

Right, I misspoke. 

And today the situation appears to be reversed, if you're looking at BTCE.

[johnyj]

The mass delivery of BFL ASIC devices have been finished, it means the hash rate won't rise as fast as before and soon investing in mining devices will be the popular method of acquiring coins again, this will put a limit on how high the price will reach, I think the current rally will stop around $1500 to $2000

[FNG]

$7,360

[bitcon]

8675.309