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Author Topic: Which happens 1st: over 5 dollars or under 4 dollars?  (Read 2038 times)
Mushoz
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December 20, 2011, 03:41:51 PM
 #21

Yeah, this is insane. It's too soon to tell yet, but we seem to be consolidating just above 4$, which isn't that far off from the high of 4,50. Consolidating close to highs is a bullish sign and is quite insane after such a big % increase in prices. Short term corrections are usually much more common then. Also there doesn't seem to be building up any selling pressure. It's only ~20k ish BTC to the 5$ mark.

Interesting and volatile times ahead  Grin

It's now ~40k BTC to $5, which I think is a good thing.

Agreed. Slow and steady!

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mc_lovin
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December 21, 2011, 06:47:08 PM
 #22

>5 !!!!!!

Wrong, we already went under 4.
Lol true, but it was barely hitting 4 at the time, I think it'll bounce around a bit and hit 5 by next week.

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December 21, 2011, 07:27:52 PM
 #23

>5 !!!!!!

Wrong, we already went under 4.
Lol true, but it was barely hitting 4 at the time, I think it'll bounce around a bit and hit 5 by next week.

I very much doubt that.  Remember that as the price climbs the difficulty of burning through the asks increases because the cost of each bitcoin goes up.  Getting through 40kBTC when the price was between 2-3 and 3-4 was much easier than getting through the same number of bitcoins between here and $5.  Also, you can't just look at order book as it is now since as the price goes up lots of bitcoins are going to get thrown up for sale along the way.

I'd be interested to know what the order book looked like last time we went through these values.  My recollection was that it was much lower.
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