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Author Topic: Spike finished, going back to 2  (Read 4606 times)
tvbcof
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October 30, 2011, 06:26:32 PM
 #61

Holy crap, I'm right again!


You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.

An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents.  It will be much harder to shake these people out.


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ElectricMucus
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October 30, 2011, 07:38:19 PM
 #62

Holy crap, I'm right again!


You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.

An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents.  It will be much harder to shake these people out.


So you are basically saying people would start buying btc for another motive than greed?

Current projections are grim, way more grim than ever. The reason is that the hype cycle has failed to evolve into an idea, but rather it looks like a hyped business.  There might be some upside if we reach a somewhat stable region and a slight uptrend in the next couple of months.
But if there is another, smaller parabola it's over.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
tvbcof
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October 30, 2011, 08:19:37 PM
 #63

Holy crap, I'm right again!


You will be right again. It only takes very little bitcoins to move the price. However, it is going to be very difficult to sustain higher prices as everybody will take advantge of the higher price and start dumping. Once the price starts to get lower people will dump as they want to cash out.

An alternate projection is that over time people with different means and agendas will supplant, as primary holders of the Bitcoin currency base, those who are impressed by a stack of fiat bills and pre-occupied by thoughts of the trinkets that that stack represents.  It will be much harder to shake these people out.

So you are basically saying people would start buying btc for another motive than greed?

Not at all (though some may.)  Different people get greedy about different things.

Current projections are grim, way more grim than ever. The reason is that the hype cycle has failed to evolve into an idea, but rather it looks like a hyped business.  There might be some upside if we reach a somewhat stable region and a slight uptrend in the next couple of months.
But if there is another, smaller parabola it's over.

In my opinion, the best thing that could happen for Bitcoin is that it lays low and remains off the radar until such time as it is actually needed.  I doubt that it will ever die of old age since it is to interesting to to many geeks.  Whether corpgov could do the deed I am not sure.  I actually doubt that they could at this time.  It also could get a terminal zero-day sickness, or be hit from within by development sabotage or splintering.

ElectricMucus
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November 16, 2011, 11:26:40 PM
 #64

Was this it?

we spiked over 2.5...

There seems to be some resistance though, slowly down again? Or do you think it will go further?

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
RyNinDaCleM
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November 16, 2011, 11:41:40 PM
 #65

Someone seems to be trying to push it, and there looks to be more in the way of support moving in.

ElectricMucus
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November 17, 2011, 12:24:00 AM
 #66

Someone seems to be trying to push it, and there looks to be more in the way of support moving in.


From the candlesticks it looks like someone is pushing bidwalls higher and higher while getting hit by sells all the time. I don't exactly get why anybody would be doing this. Wouldn't a buyer want to buy at a lower price?

The market doesn't seems to want to go there but if someone has alot of cash he could push alot further.
Sigh, since when has pushing the price become the major part of market movements...

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
Vandroiy
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November 17, 2011, 12:34:37 AM
 #67

Looks more like someone simply bought 10k, and that made it rise.

Pushing price along is a profitable tactic if it's off far enough. If that person believes a BTC is worth over 4 USD, he will not care whether he buys at 2.4 or 2.6, he just wants to be faster than others to realise the opportunity.

I don't know whether it's smart right now, the huge seller two days ago kind of flooded the market. But generally, I agree. The price is rather low, so if one believes that is wrong, the exact buying tactics aren't super important, and pushing is the only way to make sure one gets the coins.

It's all about what a coin is really worth, as in speculation. Can't say that this particular move looked stupid.
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