This Recent Market Surge, Are You Buying, Selling, or Just Looking?

[Armis]

every part of the $500 - $599 range was examined over the weekend, but suddenly it sprung up and out of that range on Monday -- fantastic

Although I don't know why it occurred, I'm overjoyed that it happened.  I sold this morning at $595.  and I'm likely to sell again tomorrow morning if it reaches $800, but I'm having a hard time buying at anything above $600 because I don't know the cause of the surge and how long it (surge forces) will be maintained.

Are you buying into this new upswing, are you selling out of it, or are you just looking?

[thms]

just keeping what I have here.. next month I'm going to buy some more

[ethought]

Holding

[thest0ckman]

turning  my hedge on and off.

i thinks it is a few whales testing their bots on the long side

did you know you can now trade stocks, precious metals & forex currency pairs with bitcoin? it is finally here! check out my sig for details.

[bananas]

just watching

[cosmofly]

Busy making money on auroracoin before they dump it so

[podyx]

Holding

[JimboToronto]

Holding my old coins (and the ones I bought during the recent Gox implosion) and trying to free up funds to buy even more while the price is still artificially low.

[CryptoGuy2014]

Bought at $434

Sold at $693

I will buy more as prices fall again

[TERA]

My original plan was to hodl but the spike was so ridiculous that I had to make a couple quick shotrs from 710 to 670 and 700 to 650. Now I am hodling again. Quick shotrs are the best ones - the ones where I can get in and out in 15 minutes without trying to guess the trend and hold fiat for an extended amount of time. For example I know I might be able able to short again and prices might even reach as low as 610 but I'm not bothering right now.

[Armis]

Holding my old coins (and the ones I bought during the recent Gox implosion) and trying to free up funds to buy even more while the price is still artificially low.

as long as the gox money is still mission and the blockchain cannot solve the problem, the current market value of btc is artificially HIGH

as it stands right now there is absolutely nothing to stop any exchange from 'losing' all of their funds in the same way that gox indicates, implies, and suggests his was lost.

No financial market of any kind can survive, much less scale, with such shallow security.

If the exchanges don't make some seriously responsible changes, and if the btc protocol doesn't experience some new security features January values will be the high for the year.  

They have 1 month to initiate meaningful change; these surges are good but they are only fans in a heat wave, we need a storm of goodwill, accountability, transparency, security, etc ...

[lemfuture]

buyinggggg no matter watttt

[JimboToronto]

No financial market of any kind can survive, much less scale, with such shallow security.

Silly me for thinking of Bitcoin primarily as a protocol and not as a market.

If anything, the death of Gox will help the long term stability of Bitcoin by discouraging people from leaving either fiat or bitcoins on exchanges. The less daytrading, the stronger Bitcoin will become.

JMHO

[CoinDiver]

Buying... always buying.

[Armis]

No financial market of any kind can survive, much less scale, with such shallow security.

Silly me for thinking of Bitcoin primarily as a protocol and not as a market.

If anything, the death of Gox will help the long term stability of Bitcoin by discouraging people from leaving either fiat or bitcoins on exchanges. The less daytrading, the stronger Bitcoin will become.

JMHO

"protocol", "market", or whatever you choose to call it, it cannot scale if it is not safe for the community.   The true market price will reflect that lack of security.  The protocol says the blockchain sees all, well if humans can't decern it what good is the protocol to humans?  

Gox departure from the btc economy would have resulted in a true market rally back up to $1000 btc IF the security issue was not an issue.  However, rates continued to tumble, not because of gox they were / are dead to the market.  It was because we are still not able to use the blockchain to get necessary answers, as such leaving open a gaping hole that would allow any other exchange to walk through it with tons of untraceable btc.  

The protocol must prove to be a cooperative as well as a reliable witness when it is called upon to testify otherwise it is still an academic experiment not yet ready for real world applications or the real money that goes with that integration.

Solve the problem, the market goes up to $1000 for real, fail to solve the problem the market simply continue to ONLY surge based on market manipulation and media hype both of which are unsustainable vehicles for btc life.

You will see exchanges step-up in responsible ways in the coming weeks, you will also see the btc protocol reflect a greater appreciation of higher security, and more functionality.  

[TERA]

My original plan was to hodl but the spike was so ridiculous that I had to make a couple quick shotrs from 710 to 670 and 700 to 650. Now I am hodling again. Quick shotrs are the best ones - the ones where I can get in and out in 15 minutes without trying to guess the trend and hold fiat for an extended amount of time. For example I know I might be able able to short again and prices might even reach as low as 610 but I'm not bothering right now.

where are you able to buy trade options for BTC ?

Sorry. By "short" I actually mean that I sold my bitcoins and rebought them. You can, however, shortsell on bitfinex, and some other margin trading and CFD platforms.

[MatTheCat]

Panic bought at $618 after buying at $588 and selling at $604.

Watched Bitcoin hit $710..thought about selling but remembered all the times I utterly regretted impulsive Bitcoin trades, so I held....

drove down to my mothers and Bitcoin was at $650, with increasing volume on down trend.....I then panic sold.

Bitcoin now at $670.

In short, I have once again taken away a fraction of the total profits that were on offer today...but fuck me, this beast is so wild what is a man to do? Also done a small dumb short and lost me $100 with that. I am a fucking shit trader.....still make profits...but recently it turns out like 65% - 35% mostly due to impulsive decision making, something that I need to shut off in me, yet, had I impulsively sold at $710, like I felt a screaming need to, I would be in raging profits right now....I hate the fact that nearly every trade I make runs very well for a period of time, but my market exit timing is fucking shocking....either cutting my own throat and walking away with fraction of profits that were on offer or hanging on so long that the trade turns against me.

oh yeah, that and I talked a m8 into buying at $690....incase it went apeshit again, after all, the past couple of times it also rested on low volume before rocketing.....DOH!

Question is now.

Was that it?

Who were the buyers? Were they Ukrainian? If so, we can surely expect more of the same tomorrow when yet more waves capital fleeing the country arrives on Bitstamp. But if we go back to the market sentiment and purchasing power that existed before this meteoric rise, then we could really plummet from here.

This market is too damn heavy on the nerves...

I am with TERA in that i wish to fuck I had just held the coins I had bought at $480, then I wouldn't be stressed by none of this......Or would I?

My original plan was to hodl but the spike was so ridiculous that I had to make a couple quick shotrs from 710 to 670 and 700 to 650. Now I am hodling again. Quick shotrs are the best ones - the ones where I can get in and out in 15 minutes without trying to guess the trend and hold fiat for an extended amount of time. For example I know I might be able able to short again and prices might even reach as low as 610 but I'm not bothering right now.

where are you able to buy trade options for BTC ?

Sorry. By "short" I actually mean that I sold my bitcoins and rebought them. You can, however, shortsell on bitfinex, and some other margin trading and CFD platforms.

U trade on Bitstamp right?

Have u got a reliable method for setting such novel trading features as a stop loss or even a profit taking limit order (i.e. at higher than spot price)?

The default trading options on that exchange are fucking abysmal.

[TERA]

I'm trading on bitfinex mostly right now. I'm just not using the shorting. Bitfinex offers a handful of advanced orders like stop loss and trailing stop loss. I don't use them... because
1. Executing any kind of order at market on bitfinex results in a horrible execution price with massive slippage or somehow that magically skips over other orders on the book.
2. A stop loss doesn't fit in with my bitcoin trading strategy. Bitcoin is too volatile and I believe in its strong fundamentals. Most bitcoin investors are actually in cold storage (and I will be migrating there shortly) and you can't even possibly use a stop loss there.

[FierceRadish]

U trade on Bitstamp right?

Have u got a reliable method for setting such novel trading features as a stop loss or even a profit taking limit order (i.e. at higher than spot price)?

The default trading options on that exchange are fucking abysmal.

If you can handle trading in Euros, and the generally lower volumes, Kraken offers these options, and a bunch of others.

[Armis]

Ahhhhhhh, ha, this is the reason for the monday morning surge:

"http://newsbtc.com/2014/03/03/blockchain-info-ceo-nic-cary-big-news-dropping-tomorrow/


Blockchain.info CEO Nic Cary: “Big News Dropping Tomorrow”
Eric Calouro | March 3, 2014    | 1 Comment
Nic Cary Exciting News Tweet

That price spike we saw earlier today? There’s probably a good reason for it. Blockchain.info CEO Nic Cary sent out an interesting tweet Monday afternoon with some informaiton to get the bitcoin community’s hearts pumping a little harder:

“This is going to be an exciting week,” he proclaimed. “Some big news dropping tomorrow”.

Are your palms sweating yet?

Of course, no indication on just what that good news is, but it’s most certainly a change of pace from these last few weeks. From bitcoin price drops to the horrifying news that Mt. Gox had lost millions in user funds (and subsequently filed for bankruptcy protection).

We’re not going to speculate, but we’d imagine of Cary considers it “big news”, then it most likely is. Also of interest: Cary @-mentioned both the Bloomberg and Market Makers (a TV program on Bloomberg) Twitter accounts.

What do you suspect is on the horizon?"


clearly people trading on inside info or inside gossip  ... now I have a reason.