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RockHound (OP)
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May 20, 2014, 03:59:05 AM
Last edit: May 20, 2014, 06:37:16 PM by RockHound |
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What's causing price increase?  |
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lyth0s
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Activity: 1260
Merit: 1000
World Class Cryptonaire
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May 20, 2014, 04:05:55 AM |
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I wish I knew. We haven't broken much over $450 (been hovering $440) for weeks now. Maybe it has to do with the $30 million dollar investment into bitpay? I mean if they bring brick and mortar stores into the bitcoin marketplace, this is going to explode.
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y3804
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May 20, 2014, 04:06:36 AM |
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Someone suggested that Coinotron had a 51% mining share of LTC.
Other people suggested bullish news from China.
LTC pools are still finding blocks, no bullish news from China. No one knows.
My guess is a small whale'ish correction to fit the small uptrend from May 11th, as no news really back up the pump
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lay785
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May 20, 2014, 04:08:33 AM |
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went up abit but keeps going down a few dollars as well.
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RockHound (OP)
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May 20, 2014, 04:08:53 AM |
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I wish I knew. We haven't broken much over $450 (been hovering $440) for weeks now. Maybe it has to do with the $30 million dollar investment into bitpay? I mean if they bring brick and mortar stores into the bitcoin marketplace, this is going to explode.
True, good point! However I think it's something other than BitPay procurement? |
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JimboToronto
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You're never too old to think young.
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May 20, 2014, 04:11:01 AM |
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What's causing price increase? It's been under-priced for months?? |
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RockHound (OP)
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May 20, 2014, 04:11:05 AM |
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went up abit but keeps going down a few dollars as well.
Holding steady around $460 for now  |
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RockHound (OP)
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May 20, 2014, 04:12:19 AM |
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What's causing price increase? It's been under-priced for months?? Sideways for ages! |
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Elwar
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Viva Ut Vivas
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May 20, 2014, 04:12:41 AM |
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It is morning in China...so probably something from there.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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RockHound (OP)
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May 20, 2014, 04:16:10 AM |
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Roughly 2500BTC volume on Bitstamp between 03:30-04:30 GMT Think y3804 right, could be whale action  |
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RockHound (OP)
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May 20, 2014, 04:18:13 AM |
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It is morning in China...so probably something from there.
Very Wise About midday 12.18pm |
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labsbitforum
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May 20, 2014, 04:28:13 AM |
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If there is no news driving this then I would guess its just more manipulation of the market... Its hard to tell which exchange is driving it because of the algorithmic trading / automatic arbitrage. The black boxes so far have been pretty biased. They prop the price back up on sell bursts and let it rise quickly on buy bursts. Basically every illegal trading scheme in traditional exchanges is fair game in Bticoin and Bitcoin is not large enough to even by mildly resistant to manipulation. http://en.wikipedia.org/wiki/Algorithmic_trading |
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RockHound (OP)
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May 20, 2014, 04:35:08 AM |
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If there is no news driving this then I would guess its just more manipulation of the market... Its hard to tell which exchange is driving it because of the algorithmic trading / automatic arbitrage. The black boxes so far have been pretty biased. They prop the price back up on sell bursts and let it rise quickly on buy bursts. Basically every illegal trading scheme in traditional exchanges is fair game in Bticoin and Bitcoin is not large enough to even by mildly resistant to manipulation. http://en.wikipedia.org/wiki/Algorithmic_trading Fair say, but think it's more news related?? BTC-e current price index @ $447.04 Stamp @ $456.74 Is it rebounding back down, and us select few over reacting ?  |
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escrow.ms
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May 20, 2014, 04:35:20 AM |
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Looks like a Market manipulation.. It's back to 456 now.
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RockHound (OP)
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May 20, 2014, 04:36:43 AM |
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Looks like a Market manipulation.. It's back to 456 now.
Agreed, looks that way |
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derpinheimer
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May 20, 2014, 04:47:21 AM |
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Looks like a Market manipulation.. It's back to 456 now.
Market manipulation.. by.. who?? Benefiting... who?? A dip after a rise is totally normal, whether or not the price continues to rise or falls down later. |
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lyth0s
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May 20, 2014, 04:57:13 AM |
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Looks like a Market manipulation.. It's back to 456 now.
Market manipulation.. by.. who?? Benefiting... who?? A dip after a rise is totally normal, whether or not the price continues to rise or falls down later. A whale (person with a lot of bitcoin/money) starts a buying frenzy, other buyers hop on board, then the whale dumps for a profit. Rinse and repeat. Making this potentially market manipulation by a whale (although I hope it is the beginning of a true rise) |
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YipYip
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May 20, 2014, 05:14:03 AM |
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Looks like a Market manipulation.. It's back to 456 now.
Agreed, looks that way I hope u have taken a position @ 440 or r u still waiting for the fanatsy 330 prices ? |
OBJECT NOT FOUND
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RockHound (OP)
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May 20, 2014, 05:25:24 AM |
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Looks like a Market manipulation.. It's back to 456 now.
Agreed, looks that way I hope u have taken a position @ 440 or r u still waiting for the fanatsy 330 prices ?  How's it going mate! Still in fiat for that acquisition. You'll be pleased to hear we have moved though ($360's was looking unlikely : ) Currently @$431 still waiting. How did your funding go - Have you moved that 150 on stamp yet? gl btw |
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