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Author Topic: Again the same as August 22... +$ 300 in just 10 minutes  (Read 217 times)
buwaytress
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August 29, 2018, 06:10:52 PM
 #21

My thoughts: The news and reasons people talk about that occur around the time of price rises AND dips... those are all hindsight analyses.

Every price movement, to me, generally, especially the quick ones you're talking about, is just the way the market moves. No rhyme or reason. We can talk about long-term movement and explain that away pretty easily, but the daily expert analysis news pouring out are all written and said after the fact.

And for those who try to reverse that timing concept, they're called price predictors Wink

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August 29, 2018, 08:15:00 PM
 #22

Well, as a crypto-enthusiast, obviously every rise should be good news.

However, when I see that without much reason, bitcoin price goes up $ 300 in just 10 minutes, then I wonder.
The volume is not the same as August 22, but the reaction is still very similar, a damn green candle for no reason .
On August 22, Tether had printed 100M (if I am not wrong) and today 50M.

That's why I do not really know what to think about these magic rises.

Rise day after day = good sign
Rise after some great news = good sign
Rise without reason at 2 AM in the morning EXACTLY like August 22, that's just weird.

Thoughts perhaps?

I don't think that you should be concerned.

The markets moves unpredictably every now and then because of the fact that not every single player within the market are completely rational. That's just the truth here. Not every rise is justified all the time by some supporting evidence. And these random price swings definitely can happen, and it does happen all the time.

I feel like that this price hike is most likely due to the anticipation to the ETF deadline in September, alongside the fact that traders see that $6k support is still holding up, which boosts confidence obviously.

I don't think that this is necessarily going to be anything long term though. More likely than not, it's a short term price rally that won't turn the market sentiment bullish all of a sudden. Don't get too excited and go FOMO buy, because I don't really expect anything majorly bullish out of this.

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August 29, 2018, 09:22:01 PM
 #23

I got a news just a couple of hours ago from CNBC this may be the reasons why the price is rising back again.

Read the article from here Bitcoin recovers above $7,000 as key South Korean exchange comes back online

According to the article, the Bithumb exchange will be coming online soon and all buy trade comes from Asia that is why the price keeps increasing these days. Since Bithumb in South Korea will reopen again it is a good sign that the price will touch again to $8k value.

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August 29, 2018, 09:48:09 PM
 #24

I got a news just a couple of hours ago from CNBC this may be the reasons why the price is rising back again.

Read the article from here Bitcoin recovers above $7,000 as key South Korean exchange comes back online

According to the article, the Bithumb exchange will be coming online soon and all buy trade comes from Asia that is why the price keeps increasing these days. Since Bithumb in South Korea will reopen again it is a good sign that the price will touch again to $8k value.

Could be.

We all know that South Korean has a appetite for Bitcoin and Bithumb returning to action will make them renewed their interested on crypto as a whole. Encouraging to say the least, but we have to see the effects in the next couple of days. As per coinmarketcap, the price is still going strong and holding around the $7K.

So its going to be interesting if this news will push the price at least to $7200-$7400 mark, which is the next resistance levels. And looking https://coinmarketcap.com/exchanges/volume/24-hour/:

5. Bithumb Bithumb

#   Currency   Pair            Volume (24h)   Price   Volume (%)
1   Bitcoin   BTC/KRW   $245,378,290   $7,058.16   66.49%

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gentlemand
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August 29, 2018, 09:49:07 PM
 #25

According to the article, the Bithumb exchange will be coming online soon and all buy trade comes from Asia that is why the price keeps increasing these days. Since Bithumb in South Korea will reopen again it is a good sign that the price will touch again to $8k value.

South Korea is a market closed to foreigners so it's basically irrelevant. At certain points it was 20% above the rest of the world and all the rest of the world could do is look on as it pointlessly fellated itself. It might ignite a little pump but it won't stay that way. It's treated as its own thing by everyone who is not in South Korea.

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August 30, 2018, 12:18:54 PM
 #26

Referring to my last point on hindsight, price just dipped $200. What bearish news shall we now attribute to this?

According to the article, the Bithumb exchange will be coming online soon and all buy trade comes from Asia that is why the price keeps increasing these days. Since Bithumb in South Korea will reopen again it is a good sign that the price will touch again to $8k value.

South Korea is a market closed to foreigners so it's basically irrelevant. At certain points it was 20% above the rest of the world and all the rest of the world could do is look on as it pointlessly fellated itself. It might ignite a little pump but it won't stay that way. It's treated as its own thing by everyone who is not in South Korea.

Yeah, even with all them players thinking to "arbitrage trade" at RoK and even Zimbabwe realised the effort just wasn't worth it, and doesn't half affect the rest of the world. Nice wordplay, I do believe it's my first time reading about auto fellatio on price association, though a more progressive trader would find that remark gender-biased.


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August 30, 2018, 01:17:30 PM
 #27

The bitcoin price is good to see to increase again because that is really a good for the bitcoin price to see again pumping. All we need to do right now is to buy more bitcoin and spread good news that bitcoin start pumping again and convince them to invedt again so they will see again 20k dollars more before end of this year 2018. Everything will be okay if we choose right direction and that is holding and buying and not to sell and even panic can affect also to you.

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August 30, 2018, 03:39:35 PM
 #28

When tether gets printed that means that someone bought tether with UDS to buy Bitcoins. That should increase price of Bitcoin.

maybe you need to read what you just wrote again Cheesy
you said people buy tether with USD then you say this purchase increase price of bitcoin!!!
it is like saying people buying a JPY in forex with USD increases price of bitcoin!

not to mention that nobody in his right mind would buy tether first then uses tether to buy bitcoin! that would cost you 2 times the trading fees which is percentage wise not a fixed amount.


Yes it increases price of Bitcoin. Because only use case of tether is or to turn it into USD back or to buy Bitcoin or other crypto. There is no other use case. You cant buy bread with it or tractors or submarines.  Tether gets printed when tether printers have no available tether anymore. All tether that was sold to them for Bitcoin they sold for USD. More USD that are coming in need freshly printed tether.  It is totally simple.

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September 04, 2018, 11:58:43 AM
 #29

*bump*

10000 Bitcoin + 100 millions Tether + bearish divergence...
Whales want to pump no matter what.

10000 bitcoin is the equivalent of 70 million US dollars. Tether injecting $100 millions. I have the feeling that those who have been manipulating with Tether have been sniffing out an excellent opportunity, and will do everything to transfer these 70 millions in their pockets. The price may go up very high. Just to kill the shorters  Roll Eyes

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