Ask wall is gone! Rally time!

[speeder]

The ask wall is gone now...

While we have a massive bid wall...

Common, it is RALLY TIME!!! BUY BUY BUY! Clear those asks!

Take that, BEACH!

[1714775759]

1714775759

[1714775759]

1714775759

[Gerken]

Ok.  You go first. 

[speeder]

I already bought about 300 BTC...

Need MOAR PEOPLE!!!

[Cluster2k]

I already bought about 300 BTC...

Need MOAR PEOPLE!!!

Let me guess, bought 300 at substantially more than $4.70?

[speeder]

Actually... no.

The highest I ever paid for BTC was 8 USD

The lowest, 0.7 USD

I bought 150 BTC this week, and sold shares on GLBSE for some more BTC. Later (after GLBSE withdraw get fixed) I will use those shares on bitcoinica to buy even more BTC



Actually, I lost lots of BTC when it went from 2 to upward (I was daytrading, sold all my BTC at 2, and it jumped to 4 before I could buy it back   ), so if BTC drop back to 2, I will buy craploads of BTC...

But I am not seeing that happening, so I am happy to buy BTC now

[grod]

Friday's coming up which means buying pressure is likely to completely dry up until Sunday night.  We've been conditioned to that cycle pretty hard.

The person removing their asks in disgust may simply have given up waiting for a price spike and decided it's worth "losing" a few hundred $ to sell now (see: giant red volume spike on the daily chart).  You don't know it's a trader that bought in at these or higher levels, could have been an "early adopter" slowly cashing out.

$4.7 with a weekend looming isn't the prettiest picture to look at if you're massive long coins.  And speaking of which, with volume having dried up and price in the toilet, there's a few thousand miners keep getting longer and longer as price makes new lows.  One of these months they're going to wake up and go, "holy crap I've invested $600 in power and all I have is bitcoins..."

[Bigpiggy01]

One of these months they're going to wake up and go, "holy crap I've invested $600 in power and all I have is bitcoins..."

HEY! You forgot the "whilst gleefully rubbing their hands and making golum noises"

[johnj]

Friday's coming up which means buying pressure is likely to completely dry up until Sunday night.  We've been conditioned to that cycle pretty hard.

The person removing their asks in disgust may simply have given up waiting for a price spike and decided it's worth "losing" a few hundred $ to sell now (see: giant red volume spike on the daily chart).  You don't know it's a trader that bought in at these or higher levels, could have been an "early adopter" slowly cashing out.

$4.7 with a weekend looming isn't the prettiest picture to look at if you're massive long coins.  And speaking of which, with volume having dried up and price in the toilet, there's a few thousand miners keep getting longer and longer as price makes new lows.  One of these months they're going to wake up and go, "holy crap I've invested $600 in power and all I have is bitcoins..."

10 USD at a 200m difficulty, 5 USD at a 100m difficulty.... it's all the same to me.

[RyNinDaCleM]

10 USD at a 200m difficulty, 5 USD at a 100m difficulty.... it's all the same to me.

We never had 2mil difficulty. And, we are nowhere near down to 1mil yet!

[speeder]

The ask wall is still gone... WHERE IS MY RALLY???

[RyNinDaCleM]

The ask wall is still gone... WHERE IS MY RALLY???

As others here have stated, we are nearing the weekend. If there is a rally now, it'll be less of a rally, and more of a spike which will correct relatively fast!

[speeder]

What weekend has to do with rally? (or lack of)

[GoWest]

What weekend has to do with rally? (or lack of)

People LOOOVE their theories around here, regardless of their veracity.