laowai80
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November 21, 2013, 06:29:15 AM |
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Am I the only one that thinks this is bearish?
We are still bursting this bubble. China had to come up but didnt. Now its dragging the other exchanges down. Since China was leading most parts of this rally in either direction I think its showing the way once again.
Well, it hasn't fallen more than 50%, so doesn't look like bursting of a bubble and price started growing again. So, technically it was a correction. |
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PenAndPaper
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November 21, 2013, 06:33:33 AM |
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So everyone here is absolutely sure that it's a dead cat bounce?  |
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TERA
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November 21, 2013, 06:40:38 AM |
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During a dead cat bounce to the amount of bids on all the major exchanges suddenly double in fiat value? Do 20k btc walls form above the low? Did this happen in April?
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BitPirate
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RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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November 21, 2013, 07:27:23 AM |
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During a dead cat bounce to the amount of bids on all the major exchanges suddenly double in fiat value? Do 20k btc walls form above the low? Did this happen in April?
Yes, we had a bullish run to $160. If it's obvious, it's not a trap. |
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windjc
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Merit: 1070
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November 21, 2013, 08:55:56 AM |
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So everyone here is absolutely sure that it's a dead cat bounce? It does NOT look like a dead cat bounce to me. Sure, we will struggle up for a while, but the bid depth is incredible, and China hasn't even awoken yet. Gox is only $60 to reaching some resistance levels that IF it breaks, confirms NO DEAD CAT BOUNCE. |
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donjoe
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November 21, 2013, 09:06:07 AM |
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死猫反弹, said the wise old man from the Far East.
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kwest
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November 21, 2013, 09:07:16 AM |
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I say the wildcard is newcomers that haven't been verified at the exchanges yet. People that read about the senate hearing in the news etc. We may well see a down trend, but I'd give it until sometime next week before really knowing. It takes some time to get verified after all.
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Ibian
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November 21, 2013, 09:41:03 AM |
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So I'm wondering, why are we talking about peaks that didn't last as if it was the base price? A rise to 900 for a few hours before it drops to 600 which is higher than it was mere days before is not a "crash" to me, I look at it as a temporary anomaly on the way up a steady rise. Am I missing something here?
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Look inside yourself, and you will see that you are the bubble.
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windjc
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Merit: 1070
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November 21, 2013, 09:42:11 AM |
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So I'm wondering, why are we talking about peaks that didn't last as if it was the base price? A rise to 900 for a few hours before it drops to 600 which is higher than it was mere days before is not a "crash" to me, I look at it as a temporary anomaly on the way up a steady rise. Am I missing something here?
No, you are dead on. |
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emanymton
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November 21, 2013, 09:46:04 AM |
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So I'm wondering, why are we talking about peaks that didn't last as if it was the base price? A rise to 900 for a few hours before it drops to 600 which is higher than it was mere days before is not a "crash" to me, I look at it as a temporary anomaly on the way up a steady rise. Am I missing something here?
No, you are dead on. All the other crashes took days/weeks to play out fully so we're not outta the woods yet... |
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NUFCrichard
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November 21, 2013, 09:49:14 AM |
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it was short and sharp if that was the crash. I would even just call it a correction
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stromma44
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November 21, 2013, 09:58:31 AM |
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I say the wildcard is newcomers that haven't been verified at the exchanges yet. People that read about the senate hearing in the news etc. We may well see a down trend, but I'd give it until sometime next week before really knowing. It takes some time to get verified after all.
This, plus it takes weeks before reading more about Bitcoin and be sure Bitcoin is realy worth. |
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EvilPanda
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November 21, 2013, 10:59:58 AM |
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Didn't the bounce happen already? Few hours after the initial fall the price bounced back to around 650$ and fell down again to ~400$. The price is slowly going up for 2 days now - imo it's not going to fall much further. There is going to be some back and forth as people gain their confidence in the current price and then we should pass 700 again. There will be a wall near the previous top as always, so it may take a few weeks until we get there but for now it's going up much faster than people predicted.
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niothor
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November 21, 2013, 11:01:06 AM |
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Because in China , cats don't bounce.
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danielW
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November 21, 2013, 11:34:45 AM |
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lamest crash ever...
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Siegfried
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November 21, 2013, 11:45:18 AM |
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Because in China , cats don't bounce.
In China, cats get boiled alive and then eaten. |
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PenAndPaper
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November 22, 2013, 02:53:59 PM |
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I thing the title should change soon to "China is not participating in this double top"
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btcprice (OP)
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November 23, 2013, 08:21:35 AM |
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Volume in China is still (as of now) higher than elsewhere. For what that is worth. Non-Chinese exchanges had a bounce from the 400's. China is only up slightly from its low.
True however China's price in USD equivelent is still higher than any USD exchange (4200 CNY is ~$690 USD). What is interesting is the spread between exchanges has narrowed. From the bottom China rose the least and Bitstamp rose the most. The gap between all three exchanges is now smaller than at the peak. Not sure what that means (if anything) but I thought it interesting. Thanks for the input. You are correct. Looks like the people of the Chin Dynasty are running up the price again. I am guessing we see an all-time high before midnight tonight Beijing time. It's now 4:22pm Beijing time. |
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bitcon
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Merit: 1008
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November 23, 2013, 09:47:06 AM |
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Volume in China is still (as of now) higher than elsewhere. For what that is worth. Non-Chinese exchanges had a bounce from the 400's. China is only up slightly from its low.
True however China's price in USD equivelent is still higher than any USD exchange (4200 CNY is ~$690 USD). What is interesting is the spread between exchanges has narrowed. From the bottom China rose the least and Bitstamp rose the most. The gap between all three exchanges is now smaller than at the peak. Not sure what that means (if anything) but I thought it interesting. Thanks for the input. You are correct. Looks like the people of the Chin Dynasty are running up the price again. I am guessing we see an all-time high before midnight tonight Beijing time. It's now 4:22pm Beijing time. all time Yuan or USD high or both? |
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EvilPanda
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November 23, 2013, 12:48:52 PM |
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Volume in China is still (as of now) higher than elsewhere. For what that is worth. Non-Chinese exchanges had a bounce from the 400's. China is only up slightly from its low.
True however China's price in USD equivelent is still higher than any USD exchange (4200 CNY is ~$690 USD). What is interesting is the spread between exchanges has narrowed. From the bottom China rose the least and Bitstamp rose the most. The gap between all three exchanges is now smaller than at the peak. Not sure what that means (if anything) but I thought it interesting. Thanks for the input. You are correct. Looks like the people of the Chin Dynasty are running up the price again. I am guessing we see an all-time high before midnight tonight Beijing time. It's now 4:22pm Beijing time. all time Yuan or USD high or both? The USD markets are driving it or I'm watching different charts. BTCE and Bitstamp reached their high yesterday while China was barely above 5000cny. |
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