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Author Topic: Rally is starting  (Read 12213 times)
ineededausername
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September 30, 2011, 04:34:32 AM
 #1

It's moving up slowly but surely right now.  We're going to be hitting that fake wall soon this morning.

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September 30, 2011, 04:46:15 AM
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Quote
It's moving up slowly but surely right now.  We're going to be hitting that fake wall soon this morning.

+1  Grin

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September 30, 2011, 05:08:32 AM
 #3

it does not matter if you call it reversal or rally. Both just say that prices are rising

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September 30, 2011, 05:12:48 AM
 #4

China is going tone huge.  Once China catches on then S. Korea and other Asian countries will follow. 

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S3052
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September 30, 2011, 05:41:04 AM
 #5

China is going tone huge.  Once China catches on then S. Korea and other Asian countries will follow. 

Do you have any data how many Chinese are already buying or using bitcoins? Is there any measure available for awareness of bitcoins in China?

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September 30, 2011, 05:57:12 AM
 #6

I know what you are trying to say. But rally does not mean that the upside is bigger than market reversal.

You can have a rally in a 1min chart and it only moves 0.2% and still can be called rally.

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September 30, 2011, 06:31:11 AM
 #7

It is not a rally we need, but a true market reversal to prove that new money is really coming into the market.

That will not start to be confirmed until the September 20 peak can be topped.

Agree.

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phorensic
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September 30, 2011, 07:07:42 AM
 #8

Woo!  Rally!
EhVedadoOAnonimato
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September 30, 2011, 07:37:11 AM
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Do you have any data how many Chinese are already buying or using bitcoins? Is there any measure available for awareness of bitcoins in China?

If you search you'll find some charts in this forum showing a sudden increase in the number of bitcoin nodes in China, following a publication in an important press there. That's all I know about "awareness", no idea if they're already buying.
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September 30, 2011, 07:39:56 AM
 #10

linking this here to make clicking easy for others...

http://mtgoxlive.com
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September 30, 2011, 08:19:00 AM
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Do you have any data how many Chinese are already buying or using bitcoins? Is there any measure available for awareness of bitcoins in China?

If you search you'll find some charts in this forum showing a sudden increase in the number of bitcoin nodes in China, following a publication in an important press there. That's all I know about "awareness", no idea if they're already buying.

The number of Chinese listening hosts is almost back to where it was before the peak. Comparing to the chain status graph the majority shut down their clients before even downloading the entire chain. Since the decline in hosts is gradual I don't think it's caused by The Great Firewall.
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September 30, 2011, 08:24:02 AM
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If the Chinese government wanted to crack down on virtual currencies, then Tencent Q-coins etc might also disappear.

Another fast way would be to shut down btcchina for good...

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September 30, 2011, 08:35:33 AM
 #13

.
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September 30, 2011, 10:34:53 AM
 #14

Nice to see the rally, but I do agree with the analysts that a mini-rally isn't that useful. Let's see if this one grows to something bigger. I think it's definitely possible.

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September 30, 2011, 03:23:09 PM
 #15

Holding steady at one price would be decent.

At least the decline has been much slower. It used to fall about an average of one dollar a week. It has been hovering around this price for about 3 weeks.

This means that we are just about at that point where enough interest is coming in weekly to make up for the inflation rate.

If the price can hold steady long enough and maybe start to rise a bit with more use, then it is nothing but UP when the inflation rate is cut in half.

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nefanon
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September 30, 2011, 03:54:22 PM
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Yay! Back up to $5  =D
SlaveInDebt
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September 30, 2011, 03:58:59 PM
 #17

$5 wall went poof!

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ineededausername
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September 30, 2011, 04:12:39 PM
 #18

Just like the 5.2 wall will go poof!

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dancupid
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September 30, 2011, 05:07:11 PM
 #19

China is going tone huge.  Once China catches on then S. Korea and other Asian countries will follow. 

Do you have any data how many Chinese are already buying or using bitcoins? Is there any measure available for awareness of bitcoins in China?

I suggest the best source is the only Chinese exchange btcnchina.com

http://bitcoincharts.com/charts/btcnCNY#rg90zvztgSzm1g10zm2g25

There's has been a significant increase in trades in the last couple of months. Though it's still below most European exchanges.

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September 30, 2011, 05:38:26 PM
 #20

Just like the 5.2 wall will go poof!

Certainly hope so! We just hit 5.17!
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