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Author Topic: ITT: We wait for bitcoin to hit $1000. Since the chinese are awake trading now.  (Read 1091 times)
gotarollman
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November 27, 2013, 12:51:48 AM
 #1

Will it happen? Or are we due for a crash while us Americans are sleeping tonight?
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bitcoin carpenter
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November 27, 2013, 01:32:58 AM
 #2

Btcchina is the same price as bitstamp and dragging the market atm

Don't really know if this is bearish or bullish but for some reason I feel more comfortable having gox back in front


 
 
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Crazy
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November 27, 2013, 01:34:54 AM
 #3

Don't really know if this is bearish or bullish but for some reason I feel more comfortable having gox back in front
Considering China started, and lead this rally to it's previous ~$900 ATH, I'd say a decoupling is bearish.
PenAndPaper
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November 27, 2013, 01:36:31 AM
 #4

Don't really know if this is bearish or bullish but for some reason I feel more comfortable having gox back in front

I 'll choose china over gox to drive a rally, every single day.
revans
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November 27, 2013, 01:38:29 AM
 #5

$1000 could be an interesting price point psychologically. Could be a stampede of people looking for the exit.
PenAndPaper
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November 27, 2013, 01:58:04 AM
 #6

$1000 could be an interesting price point psychologically. Could be a stampede of people looking for the exit.

Lets hope that most of them have exited already in the previous flash crash  Roll Eyes
Crazy
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November 27, 2013, 01:59:30 AM
 #7

$1000 could be an interesting price point psychologically. Could be a stampede of people looking for the exit.
revans, I can tell by the yellow of your ignore that a lot of people aren't appreciating your brand of insight lol. How yellow am I?
Anon136
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November 27, 2013, 02:01:19 AM
 #8

$1000 could be an interesting price point psychologically. Could be a stampede of people looking for the exit.
revans, I can tell by the yellow of your ignore that a lot of people aren't appreciating your brand of insight lol. How yellow am I?

no yellow

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
Crazy
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November 27, 2013, 02:02:29 AM
 #9

Surprising, I have been pretty bearish. Although my goal isn't really to get under people's skin.
Anon136
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November 27, 2013, 02:12:39 AM
 #10

Surprising, I have been pretty bearish. Although my goal isn't really to get under people's skin.

Man i wouldn't admit that. Its hard to be more wrong about anything than being a bitcoin bear so far.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
emanymton
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November 27, 2013, 02:14:30 AM
 #11

Surprising, I have been pretty bearish. Although my goal isn't really to get under people's skin.

Man i wouldn't admit that. Its hard to be more wrong about anything than being a bitcoin bear so far.
depends on the timeframe

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BitcoinAshley
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November 27, 2013, 02:15:21 AM
 #12

Yellow doesn't mean too much. Smoothie is yellow but he's one of my fav posters. ElectricMucus is yellow and while he can be imbecilic at times, I wouldn't say he's anywhere near ignore-worthy.

And there are some people who are straight-up trolls but haven't been around long enough to accumulate enough ignores for a yellow.
revans
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November 27, 2013, 02:15:53 AM
 #13

Surprising, I have been pretty bearish. Although my goal isn't really to get under people's skin.

Man i wouldn't admit that. Its hard to be more wrong about anything than being a bitcoin bear so far.

Ah, the words that have preceded thwarted ambition for centuries...'so far'
Crazy
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November 27, 2013, 02:16:25 AM
 #14

I don't think I'm wrong. Have I been wrong on a lot of short term calls? Too many to count. But long term, I've felt like I've been spot on (with personal decisions I've made based on them). Sometimes, vindication takes awhile.
CMMPro
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November 27, 2013, 02:16:32 AM
 #15

China doesn't care about $1k USD....why would they?

6087 Yuan = $1000 USD
BitcoinTraderFX
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November 27, 2013, 03:03:12 AM
 #16

FLASH CRASH - JUST SAY NO

I just wanted to chime in that there is no flash crash mechanism in bitcoin. Since the bitcoin exchanges don't have STOP orders, they only offer LIMIT orders. Read that as LIMIT="sell/exit if it goes up to this price."

With no resting STOP order below the market, there can be no cascade effect of resting orders. Wow, did that sound technical or what.

{Translation Follows}

Imagine a huge pool of sell orders. A bunch at 1000, a bunch at 900 a bunch at 800. A flash crash would be if the 1000 touch pushed the market down to 900, triggering that batch of sell orders which pushes the market down to 800, triggering that batch, etc. Hence the cascade.

BITCOIN DOES NOT HAVE THAT MECHANISM. The exchanges only allows orders "resting" above the market. So there is nothing below 950 to cascade into. There was resistance at 900, but it got eaten up. Then pushed past it. Buyers are stepping in.

Okay, posting this chart again for the third time : )  I've never gotten so much value out of a single copy paste.

: )

cj


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