arepo (OP)
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Merit: 250
this statement is false
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January 30, 2012, 11:20:41 PM |
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I think that associating lowish volume with price drops is flawed. A large majority of Bitcoin trading is speculative, both buying AND selling. There is no drastic difference in the need for people to either buy bitcoins or buy dollars in this market environment. For example, during the rise from $2 to $7 we had many occasions of low volumes, yet the price was climbing up, slowly. Often there was a larger buy afterwards which lead to a rally of some kind.
If someone wants to argue this point, then there needs to be some data to support it. I have a hard time believing that lowish volume is always followed by a price drop. This was probably the case during the fall but we are in a different environment now. To me the price is on fairly neutral ground and it's truly quite hard to say where it'll go next.
In fact I think that a lot of times the reason we have a price drop after lowish volume is because someone is expecting a price drop and decides to go first, which then others follow. This is very important because a lot of what speculators do is based on what they think others will do.
I'm pretty tired of hearing about 'low' volume. So far, this month there have only been two days below $200K volume. In December there were 17 days below $200K. In November there were 22 days below $200K... So, compared to that recent history volume is not 'low'. I think the whole problem with this perspective is that too many have become acclimated to a microscopic view of the market, obsessing about daily (hourly) wiggles and jumping at every bump and dip without really looking at anything in context... Everything is just fine...+1,000,000,000 |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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old_engineer
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January 31, 2012, 12:15:00 AM |
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I'm pretty tired of hearing about 'low' volume. So far, this month there have only been two days below $200K volume. In December there were 17 days below $200K. In November there were 22 days below $200K... So, compared to that recent history volume is not 'low'.
I think the whole problem with this perspective is that too many have become acclimated to a microscopic view of the market, obsessing about daily (hourly) wiggles and jumping at every bump and dip without really looking at anything in context...
Everything is just fine...
And for perspective: a year ago, Jan 29th 2011, MtGox volume was $644. Not k: just $644.00 USD. Bitcoins were selling for $0.44, so that's a whole 1436 btc traded that day. |
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 31, 2012, 02:38:01 AM |
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lets tally the events shall we. the word is out you can easily buy drugs with bitcoin, bitcoin rocks, raw raw raw, the next day bitcoin is worth 30$ the day after that we learn that.. well bitcoin isn't as anonymous as we thought, and hackers love bitcoin. bitcoin is worth 15$ the fallowing week bitcoin is scrutinized, price continues to drop. In the mist of a lot of bad news bitcoin speculators and small time investors are eager to buy 1,000 bitcoins at 1.xx$... but the market is not stupid and refuses to sell bitcoins below 2.xx. the next day, we are all very relieved to see that bitcoin will indeed survive above 2$ the next week the NEWS has no choice but take back what they said and admit bitcoin is strong! prices rise, volume doubles speculators, hoarders and traders Start selling their coins at the "top"! surprisingly it is very easy. Hundreds of thousands of coins are traded above 6$, every day for 2 weeks, Bitcoinia users become overly confident that the market will bounce back from 6$ to 7$ and everyone goes long. the market dips down slightly causing a Zhoutongization effect! in under 2 hour we see a low 4.64$ and a high of 7$ only to close at 6$ another attempt at breaking 7$ starts only to be stopped at 6.66$ 7$ seems like a yesterdays pipe dream, someone drops a knife. 10,000BTC wall at 5.20 effectively catches the knife. the price beings to move up again. 5.75$ sounds sell alarms. tomorrow... is anyone guess, i cant wait!  |
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Oldminer
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January 31, 2012, 03:32:31 AM |
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I'll guess oh...$4.50  |
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arepo (OP)
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Activity: 448
Merit: 250
this statement is false
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January 31, 2012, 05:47:30 AM |
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i still see only about 30k real ask orders we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up... are you ready? |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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cunicula
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January 31, 2012, 06:35:26 AM |
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i still see only about 30k real ask orders we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up... are you ready? Post the poop or GTFO! |
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arepo (OP)
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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January 31, 2012, 07:20:10 AM |
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i still see only about 30k real ask orders we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up... are you ready? Post the poop or GTFO! are you still referring to the unfunny joke about graphing my turds? eat shit |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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cunicula
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January 31, 2012, 09:21:29 AM |
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i still see only about 30k real ask orders we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up... are you ready? Post the poop or GTFO! eat shit Arepo reveals his secret! Somehow in the process of digesting shit future price movements are revealed! |
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gewure
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Activity: 364
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[#][#][#]
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January 31, 2012, 06:03:13 PM |
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price is fighting the 6 at the moment
bears.. come on, you now spread FUD, PANIK, MADNESS and DESTRUCTION the last 2 weeks; haven't you got your stomach full yet?! don't be greedy.
on the bear side is sense DENIAL, on the bull side OPTIMISM: we are at a very stable and balanced price.
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NamelessOne
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January 31, 2012, 06:05:09 PM |
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Yes, and stabilizer bots keep any increase in price down.
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jojo69
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diamond-handed zealot
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January 31, 2012, 07:04:27 PM |
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Post the poop or GTFO!
are you still referring to the unfunny joke about graphing my turds? eat shit funny...I ignored this asswipe the first day I was here after reading the first post of theirs I ever saw looks like one of my better calls lately |
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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arepo (OP)
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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January 31, 2012, 11:09:39 PM |
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volatility's up, everyone prepared for the launch? keep your eyes peeled tonight...
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this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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SlaveInDebt
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January 31, 2012, 11:51:36 PM |
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Volume dwindling prepare for smack down.
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"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 01, 2012, 12:10:09 AM |
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Volume dwindling prepare for smack down.
if you consider the lack of movement, volume is kinda high prepare for more of the same... for now  |
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SlaveInDebt
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February 01, 2012, 12:22:30 AM |
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Volume dwindling prepare for smack down.
if you consider the lack of movement, volume is kinda high prepare for more of the same... for now Bot volume |
"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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February 01, 2012, 01:01:55 AM |
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Little bit of a dust up going on right now.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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teflone
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February 01, 2012, 01:10:56 AM |
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Little bit of a dust up going on right now.
Theres not such thing as a manipulator.. herp.. derp.. |
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StewartJ
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February 01, 2012, 01:18:00 AM |
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lets tally the events shall we. the word is out you can easily buy drugs with bitcoin, bitcoin rocks, raw raw raw, the next day bitcoin is worth 30$ the day after that we learn that.. well bitcoin isn't as anonymous as we thought, and hackers love bitcoin. bitcoin is worth 15$ the fallowing week bitcoin is scrutinized, price continues to drop. In the mist of a lot of bad news bitcoin speculators and small time investors are eager to buy 1,000 bitcoins at 1.xx$... but the market is not stupid and refuses to sell bitcoins below 2.xx. the next day, we are all very relieved to see that bitcoin will indeed survive above 2$ the next week the NEWS has no choice but take back what they said and admit bitcoin is strong! prices rise, volume doubles speculators, hoarders and traders Start selling their coins at the "top"! surprisingly it is very easy. Hundreds of thousands of coins are traded above 6$, every day for 2 weeks, Bitcoinia users become overly confident that the market will bounce back from 6$ to 7$ and everyone goes long. the market dips down slightly causing a Zhoutongization effect! in under 2 hour we see a low 4.64$ and a high of 7$ only to close at 6$ another attempt at breaking 7$ starts only to be stopped at 6.66$ 7$ seems like a yesterdays pipe dream, someone drops a knife. 10,000BTC wall at 5.20 effectively catches the knife. the price beings to move up again. 5.75$ sounds sell alarms. tomorrow... is anyone guess, i cant wait! Nice recap, this would look awesome on an actual timeline chart with dates. |
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arepo (OP)
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
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February 01, 2012, 10:55:09 PM |
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anyone notice the blastoff? and the rapid disintegration of the fake asks resulting in a very bullish depth chart? reminds me of what i said yesterday... i still see only about 30k real ask orders we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up... are you ready? |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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ineededausername
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February 01, 2012, 11:07:07 PM |
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We have now seen the first hourly RSI break above 70 since early January. All the fake rallies showed up as fake on the RSI chart.  Get ready for takeoff! |
(BFL)^2 < 0
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