I am going crazy, or is there some serious pumping going on?

[Scythe_001]

So over the past two days, it seems to me unquestionable that Mt.Gox has been bombarded by a party who is "painting the tape". We've been having relatively flat prices for hours until we hit a vertical incline of what appears to be someone keeping the price inflated. This seems especially the case when we broke the $1000 and $1100 barriers.

Moreover, the long term logarithmic projections for the bitcoin price, established in this thread (https://bitcointalk.org/index.php?topic=322058.0) would indicate that the bitcoin price should be around $400 USD.

I'm wondering what other people think; in part because I had the misfortune of selling my 30btc stash at $890, 10 minutes before the serious pumping began. I'd be lying if I said I wasn't angry with myself for having doubted bitcoin's value. I even considered (still do actually) myself a "true believer" in bitcoin.

Oh, the pain of not owning bitcoin!  

I suppose I can continue I wait for a crash until $1320/btc. At that point, I suppose I'd have to cut my losses, and kiss goodbye to a third of my precious bits. Bitcoin, forgive me.


Edit: just to be clear, I was implying I'd be forced to buy back in at $1320/btc.

[Zoolu]

Wow 30BTC....

I think you did the right thing, the bubble will burst and when it does buy back in and it will inflate again... Its going up way t fast at the minute

[zendantom]

Never sell everything, it is noob trader mistake 

But Im suspicious of bull trap now, the yesterday big dump corrected so fast convincied me I might be right

[Minecache]

I'm in a long term hold position. It's too volatile to speculate. For me anyway.

[Gator-hex]

Chill and watch his video, we're all venture capitalists, for once we were allowed into the game early.

Bitcoin 101 Blackboard - Why Bitcoin's Growth is Normal & The S-Curves you don't normally get to see.
http://www.youtube.com/watch?v=qHUPPYzzZrI

[Creatrix]

Gator-hex, thanks for video!

[WayTooGosu]

I think there is something more going on for the BTC/USD rates to be going up this much.

[richo262]

I have faith in BTC, will prob take a few hits on the way though but it'll break through.

Now all i need is a few coins :p

hint hint
1DSxKtjQ2qBoWaZxzu1GHgcaPmzvVVLmDc

[Regono]

It's pretty amazing how much every cryptocurrency has increased the past few days. Will this bubble pop if there is big media attention bringing in more people or will it just continue to rise?

[PenAndPaper]

If you think that some serious pumping is going on bitcoin wait until you see litecoin...   

[Scythe_001]

Wanted to give y'all an update.
So I bought back in on Mt.Gox, at $1146/btc. Thankfully, it looks like I had the good fortune to buy in at the bottom of the lull. In doing so, I went from 30.2 btc originally to 23.5 btc currently.

This harrowing experience taught me a few things I'd like to share:

-When you're a bitcoin believer, trading your seat on the BTC rocketship for USD is akin to selling your first born child. It hurts, it's nerve raking, and you only want it back as soon as it's gone
-Don't day trade with a commodity constantly rising in value, the more time that passes, the farther you'll be left behind
-Don't sell your whole stash, the pain just ain't worth the gain

I might never seen those darn 7 btc again, but this lesson might just be worth it. I sure won't be forgetting it.  

As for the status of bitcoin being pumped or not, I am not certain, but I do have a fair degree of confidence that it was during the rise. If past experience is any indicator, I suspect pumpers capitalize on real world events to trigger their inflation. I recall the similar bitcoin price behavior during the last U.S. Gov Shutdown, and the more recent U.S. Senate Hearings. Thanks for the kind words from the rest of you, I was in such a tormented state without my bitcoin, reading your responses helped.  

[beetcoin]

Wanted to give y'all an update.
So I bought back in on Mt.Gox, at $1146/btc. Thankfully, it looks like I had the good fortune to buy in at the bottom of the lull. In doing so, I went from 30.2 btc originally to 23.5 btc currently.

This harrowing experience taught me a few things I'd like to share:

-When you're a bitcoin believer, trading your seat on the BTC rocketship for USD is akin to selling your first born child. It hurts, it's nerve raking, and you only want it back as soon as it's gone
-Don't day trade with a commodity constantly rising in value, the more time that passes, the farther you'll be left behind
-Don't sell your whole stash, the pain just ain't worth the gain

I might never seen those darn 7 btc again, but this lesson might just be worth it. I sure won't be forgetting it.  

As for the status of bitcoin being pumped or not, I am not certain, but I do have a fair degree of confidence that it was during the rise. If past experience is any indicator, I suspect pumpers capitalize on real world events to trigger their inflation. I recall the similar bitcoin price behavior during the last U.S. Gov Shutdown, and the more recent U.S. Senate Hearings. Thanks for the kind words from the rest of you, I was in such a tormented state without my bitcoin, reading your responses helped.  

it turns out that you made a mistake, but at least you had the balls ato admit it.. i don't know if i would have bought back in so quickly, as i'd feel really bitter about it.

the good side is that you still have 23.5 BTC 

[zubelutte]

If you think that some serious pumping is going on bitcoin wait until you see litecoin...   

I think that some serious pumping is going on litecoin instead 

[beetcoin]

If you think that some serious pumping is going on bitcoin wait until you see litecoin...   

I think that some serious pumping is going on litecoin instead 

that's all but certain to me. there's good news about BTC, it explodes, and then all of a sudden LTC follows suit with no relative news on their end.. that's pure speculation. it still might become fruitful some time in the near future though.

[Minecache]

Friend just be happy you've got BTC23.5. I've only got 3, but am open to all offers to top up my count. 

[Scythe_001]

Wanted to give y'all an update.
So I bought back in on Mt.Gox, at $1146/btc. Thankfully, it looks like I had the good fortune to buy in at the bottom of the lull. In doing so, I went from 30.2 btc originally to 23.5 btc currently.

This harrowing experience taught me a few things I'd like to share:

-When you're a bitcoin believer, trading your seat on the BTC rocketship for USD is akin to selling your first born child. It hurts, it's nerve raking, and you only want it back as soon as it's gone
-Don't day trade with a commodity constantly rising in value, the more time that passes, the farther you'll be left behind
-Don't sell your whole stash, the pain just ain't worth the gain

I might never seen those darn 7 btc again, but this lesson might just be worth it. I sure won't be forgetting it.  

As for the status of bitcoin being pumped or not, I am not certain, but I do have a fair degree of confidence that it was during the rise. If past experience is any indicator, I suspect pumpers capitalize on real world events to trigger their inflation. I recall the similar bitcoin price behavior during the last U.S. Gov Shutdown, and the more recent U.S. Senate Hearings. Thanks for the kind words from the rest of you, I was in such a tormented state without my bitcoin, reading your responses helped.  

it turns out that you made a mistake, but at least you had the balls ato admit it.. i don't know if i would have bought back in so quickly, as i'd feel really bitter about it.

the good side is that you still have 23.5 BTC 

The 2 days I waited might sound like buying in "so quickly" to you, but trust me, when you've traded all your bitcoin just as the rocketship is taking off, every second that passes is an hour of anguish.

[samsam]

Mt.Gox's price is seriously inflated. You can even buy much cheaper on Coinbase.

Not sure what the deal is at Gox since I use BTC-e, but I suspect there is some serious pumping going on at Gox.

[terman45x]

Wanted to give y'all an update.
So I bought back in on Mt.Gox, at $1146/btc. Thankfully, it looks like I had the good fortune to buy in at the bottom of the lull. In doing so, I went from 30.2 btc originally to 23.5 btc currently.

Although trading seems easy way to increase your BTC stack when looking at historical graphs, many traders loose part of their BTCs, but only few admit it.

So kudos to you

[beetcoin]

Wanted to give y'all an update.
So I bought back in on Mt.Gox, at $1146/btc. Thankfully, it looks like I had the good fortune to buy in at the bottom of the lull. In doing so, I went from 30.2 btc originally to 23.5 btc currently.

Although trading seems easy way to increase your BTC stack when looking at historical graphs, many traders loose part of their BTCs, but only few admit it.

So kudos to you

speculating bubbles and crashes is no different to me than sports/futures gambling. that's why so far i've managed to mostly avoid doing it. i have to be honest though, sometimes it's just really really tempting.

[terman45x]

Mt.Gox's price is seriously inflated. You can even buy much cheaper on Coinbase.

Not sure what the deal is at Gox since I use BTC-e, but I suspect there is some serious pumping going on at Gox.

Yes, but it is hard to get money on BTC-e to buy cheap BTC and sell elsewhere