Prepare for the new influx of buyers

[Patel]

Today and yesterday was the first time in history that there was about 2 hours of airtime regarding bitcoin for 2 straight days.

Many people learned about Bitcoin for the first time.

So look at it like this.

2 Days for verification
3 days for wire

You can bet that next week the price is going to skyrocket based on all of the attention that Bitcoin received yesterday and today

Consider this correction huge bear trap

[Ivanhoe]

Exactly my thoughts.

[BittBurger]

Interesting perception, and I hope you are correct.   Very well may be.

I just can't stomach that we're hovering around $600 and China apparently is above $1,000.

There should be ONE EXCHANGE for the whole world, owned by no company.  

Bitcoin SHOULD have had an exchange built into it.

[wobber]

I don't think so, CSPAN is kinda niche. Not everyone watches it. I'd say critical mass is here for bitcoin. And 21,000,000 BTC should be sufficient for all of us. (don't tie this to Bill Gates)

[DeathAndTaxes]

2 hours of airtime ... on CSPAN.

Honestly OP before yesterday how many hours of CSPAN did you watch in an average week?
How many hours do you think the masses were watching this week?

[Ivanhoe]

I don't think so, CSPAN is kinda niche. Not everyone watches it. I'd say critical mass is here for bitcoin. And 21,000,000 BTC should be sufficient for all of us. (don't tie this to Bill Gates)

I don't know about your country, but here Bitcoin is getting headline after headline in the news.

[AndrewWilliams]

You nailed it Patel.

That said, to process the influx of new verifications will take longer than usual... pushing it probably until the weekend or Monday.

I say around November 27, things will start climbing up again. This time it will penetrate $1,000!

[wachtwoord]

I don't think so, CSPAN is kinda niche. Not everyone watches it. I'd say critical mass is here for bitcoin. And 21,000,000 BTC should be sufficient for all of us. (don't tie this to Bill Gates)

I don't know about your country, but here Bitcoin is getting headline after headline in the news.

Here as well. Not necessarily the most informed pieces of journalism though

[wobber]

I don't think so, CSPAN is kinda niche. Not everyone watches it. I'd say critical mass is here for bitcoin. And 21,000,000 BTC should be sufficient for all of us. (don't tie this to Bill Gates)

I don't know about your country, but here Bitcoin is getting headline after headline in the news.

What country? USA?

[MatTheCat]

Today and yesterday was the first time in history that there was about 2 hours of airtime regarding bitcoin for 2 straight days.

Many people learned about Bitcoin for the first time.

So look at it like this.

2 Days for verification
3 days for wire

You can bet that next week the price is going to skyrocket based on all of the attention that Bitcoin received yesterday and today

Consider this correction huge bear trap

LOL.

What a load of old codswallop.

Who in their right mind is going to throw a big pile of cash at something that has just crashed from $900 to $500?

[Patel]

Today and yesterday was the first time in history that there was about 2 hours of airtime regarding bitcoin for 2 straight days.

Many people learned about Bitcoin for the first time.

So look at it like this.

2 Days for verification
3 days for wire

You can bet that next week the price is going to skyrocket based on all of the attention that Bitcoin received yesterday and today

Consider this correction huge bear trap

LOL.

What a load of old codswallop.

Who in their right mind is going to throw a big pile of cash at something that has just crashed from $900 to $500?

People who will be smart to think that the price is low right now so its a good chance to buy. Who in the right mind would throw a big pile of cash at something that is at an all time high with headlines everywhere that the bubble is about to pop?

Goes both ways.

[YoYa]

Expectations built on fundamentals often fail to materialise within the expected timeframe, no doubt they eventually do materialise, but none the less it won't go as you expect it to.

Also, the market can have already assimilated this information meaning the current price is an accurate reflection of value in the current timeframe.

In other words, it sure as hell isn't as simple as you think it is.

[kireinaha]

Yup, everyone watching CSPAN that wasn:t already invested in bitcoin (maybe 10 people...?  ) learned about it just in time to come online and witness the market crash. Or correction. Whatever you want to call it. I:m sure they:ll be real motivated to invest their hard earned money in it now 

[elux]

Yup, everyone watching CSPAN that wasn:t already invested in bitcoin (maybe 10 people...?  )
learned about it just in time to come online and witness the market crash. Or correction.
Whatever you want to call it. I:m sure they:ll be real motivated to invest their hard earned money in it now  

Ahem... Bitcoin #1 top Google Trend worldwide yesterday:



Source: http://www.google.com/trends/ via http://www.reddit.com/r/Bitcoin/comments/1qxhnt/bitcoin_the_most_popular_search_term_today/




 (October 31 was the $27 apartment guy.)

Source: www.stats.grok.se/en/latest30/bitcoin

[AndrewWilliams]

Yup, everyone watching CSPAN that wasn:t already invested in bitcoin (maybe 10 people...?  ) learned about it just in time to come online and witness the market crash. Or correction. Whatever you want to call it. I:m sure they:ll be real motivated to invest their hard earned money in it now 

Fool!

Watch and learn 

[chrsjrcj]

Nobody watches CSPAN, but the fact that it happened will be in the news.

[kireinaha]

Nobody watches CSPAN, but the fact that it happened will be in the news.

Right... the headlines will read, `bitcoin surges to record highs amidst congressional hearing; plummets 50% next day!`

Let`s pretend that the average person out there doesn`t spend hours on these message board every week and doesn`t have a good understanding of how the bitcoin market works. They`ll probably lose interest pretty quickly.

I`m not saying it can`t attract a few interested parties, but let`s not bullshit ourselves here...

[wachtwoord]

Bitcoin: a popular (alpaca) sock

Source: http://www.google.com/trends/ via http://www.reddit.com/r/Bitcoin/comments/1qxhnt/bitcoin_the_most_popular_search_term_today/

[AndrewWilliams]

You way overestimate people's tolerance...

Remember how everyone was stampeding to buy Facebook stock? It didn't matter it was overpriced.

Mention the words "internet" and "new" and you have a recipe for record setting highs.

[kireinaha]

You way overestimate people's tolerance...

Remember how everyone was stampeding to buy Facebook stock? It didn't matter it was overpriced.

Mention the words "internet" and "new" and you have a recipe for record setting highs.

Maybe to some degree yes, but another major problem right now is the difficulty in obtaining coins. Coinbase and many other exchanges are out. Investing in stock is relatively straight forward, but are people willing to wait days for a bank account to be confirmed, followed by `sorry, we`re all out of coins, but you can still buy now and pay whatever the price is next week.`