Back to $680. So obvious this is a pump.

[freedomno1]

It still feels like the price is on a consistent upward trend
It takes a while to get into momentum but usually 200 dollars a month averaging upward seems to be reasonable
Before an even more rapid incline then stop

sss

[TERA]

I'm kind of expecting something like this assuming the uptrend holds.

[bitleif]

It's called a thin market. I've followed some of your posts on here and I thought you would understand that. Look at the value of the inside spread on the S&P 500 Futures contract compared to the inside spread of bitstamp and it's a joke. We're talking many orders of magnitude different. It takes peanuts to move bitcoin around (comparatively speaking).

The rest of the comments in this thread tell me that most people on this forum haven't got the first clue about market dynamics.

Amen.

Conspiracy theorists are fun. People have always made up bullshit stories to explain things they don't understand. Thunder is because Thor is riding a wagon. That creaking upstairs has to be a ghost. And apparently every time someone loses out because they risked way too much of their own money in a f**king volatile market, it's because of some magical whale bot or something like that.

Once you learn that your losses are nobody's fault but your own, then you can start to improve. But not before. This applies to everything in life not just bitcoin.

[Don007]

I'm kind of expecting something like this assuming the uptrend holds.

Exactly! That's exactly how I expect the trend is going to be. Allthough I'm not so sure that the first coming "crash" is stabilized as fast as in your chart. I don't think we will go below <500 again soon, and I do believe that we're back on track heading to the top again. The 750$ will be reached in months!

[CEG5952]

Indeed, I am watching the 530-550 zone closely for a base to take off to the moon from. We've been feeling overbought for several days, and may need to shake out some more weak hands before doing so.

[superresistant]

It's called a thin market. I've followed some of your posts on here and I thought you would understand that. Look at the value of the inside spread on the S&P 500 Futures contract compared to the inside spread of bitstamp and it's a joke. We're talking many orders of magnitude different. It takes peanuts to move bitcoin around (comparatively speaking).

The rest of the comments in this thread tell me that most people on this forum haven't got the first clue about market dynamics.

Amen.

Conspiracy theorists are fun. People have always made up bullshit stories to explain things they don't understand. Thunder is because Thor is riding a wagon. That creaking upstairs has to be a ghost. And apparently every time someone loses out because they risked way too much of their own money in a f**king volatile market, it's because of some magical whale bot or something like that.

Once you learn that your losses are nobody's fault but your own, then you can start to improve. But not before. This applies to everything in life not just bitcoin.

Haha, so true.

[rohnearner]

I'm glad that we didn't crossed 700$ last night although most of us wanted that to happen but not like this, personally i'll like to see it around 650-700$ mark for some week so that all those pump and dump theories can take a rest..! we all know what happened when btc reached ATH last Nov and then crashed back simply because it wasn't really worth that much at that point of time,  .! just going ahead on slow and steady pace and I'm happy with it.. not expecting more but even if we reach and stabilize at 1k-1.5k$ mark for well over 2-3months by the end of the year or early next year i'll be more than happy. and after that we can expect boom...

[howardb]

I can't help but laugh at the conspiracy theorists and those that dismiss them out of hand. It seems to me a golden rule that with an unregulated market of multi billion dollar value "if crooked people can get away with manipulating, crooked people will manipulate."

The best way to play cat and mouse is don't be the mouse! Buy and hold for the long term! If you try and trade in an unregulated market sooner or later those with deeper pockets will show you how they got rich in the first place!

It also strikes me that if you REALLY REALLY beleived in Bitcoins future (and i'm talking the kind of belief that says this thing will be $100k -> $1000k per coin at some point) then WHY would you risk your precious coins now by trying to trade them?

I'm praying it doesnt go up so I can keep accumulating....

[Torque]

Indeed, I am watching the 530-550 zone closely for a base to take off to the moon from. We've been feeling overbought for several days, and may need to shake out some more weak hands before doing so.

I love how so many on this sub forum that expect a "drastic correction" always put their buy-in targets at $80-100 below where the market will likely go.  And then they are left scratching their heads when that drastic of a correction never happens.  

I believe that the new ~600-ish support is going to be very tough to break now.

[nickenburg]

Does anyone have any evidence supporting a pump?
Cant it just be that we left alot of bad new behind us and move into a new period again?
Ofcourse there can be some big players that can manipulate the prices.
But they have to ether have alot of money or work togheter in a big group.
Lets say there is a price manipulator, how much bitcoins must he sell or buy to even manipulate the price?
Lets say he buys bitcoins for 1 million at 400$ so that is 2500 bitcoins.
And he sells them again at 680 that would be 2500x680= 700k profit
So if he buys bitcoins for 10 million he has 7 million profit, that's actually crazy profit if you look at it like this.
But do you guys think this is actually possible, I mean with the blockchain there has to be proof of that then right?

[Don007]

Indeed, I am watching the 530-550 zone closely for a base to take off to the moon from. We've been feeling overbought for several days, and may need to shake out some more weak hands before doing so.

I love how so many on this sub forum that expect a "drastic correction" always put their buy-in targets at $80-100 below where the market will likely go.  And then they are left scratching their heads when that drastic of a correction never happens. 

I believe that the new ~600-ish support is going to be very tough to break now.

I agree with you. I think 600 is going to be the bottom value for a quite long time soon enough. However, I think we might get go <500 again first.  I don't really care, I reinvested in BTC when the value was around 450$.

[ncsupanda]

I'm kind of expecting something like this assuming the uptrend holds.

I just have to say that I lol'd at this. I know it's an actual guess, but I can't help but think you used paints drawing tool to do this.

I don't understand why people haven't seen that the trend is upwards over time, even with drops.

[nottm28]

I'm kind of expecting something like this assuming the uptrend holds.

I just have to say that I lol'd at this. I know it's an actual guess, but I can't help but think you used paints drawing tool to do this.

I don't understand why people haven't seen that the trend is upwards over time, even with drops.

In principal I tend to agree with the graph 'as a whole'.

Also, it's uncanny how his hand was able to mimic nature so well there - almost as though he had a few drinks or something...

[Don007]

I'm kind of expecting something like this assuming the uptrend holds.

I just have to say that I lol'd at this. I know it's an actual guess, but I can't help but think you used paints drawing tool to do this.

I don't understand why people haven't seen that the trend is upwards over time, even with drops.

In principal I tend to agree with the graph 'as a whole'.

Also, it's uncanny how his hand was able to mimic nature so well there - almost as though he had a few drinks or something...

I agree with NCuspanda, there's obviously a trend upwards now.  Yes, we've to deal with some drops now and then, but we can't head to the top in one straight line right? That would be really weird and unrealistic. 

I really think we're on our way back to the top. I reinvested some fiat in BTC when the price was about $450, and in my view i've done a great job by doing that .

[jonald_fyookball]

  Yes, we've to deal with some drops now and then, but we can't head to the top in one straight line right? That would be really weird and unrealistic. 
 

Of course.

Price never moves in a straight line.  Markets don't work that way.

[Don007]

   Yes, we've to deal with some drops now and then, but we can't head to the top in one straight line right? That would be really weird and unrealistic. 
 

Of course.

Price never moves in a straight line.  Markets don't work that way.

Exactly. That's why I don't really understand why everybody is talking about "pumps", "crashes" and "bubbles".

"Pumps" are mostly only possible with altcoins when you own a nice capital. To really "pump" the bitcoin, I think you should have lots and lots of money.. And, why should you?

[lumierre]

sudden price surge != manipulation.

We can't expect all new comers to be the same financially everyday. At some days there will just be average joes coming in and at some days there's Google, dish, etc.

And, for your convenience:
http://www.investopedia.com/video/play/pump-and-dump/

[MatTheCat]

"Pumps" are mostly only possible with altcoins when you own a nice capital. To really "pump" the bitcoin, I think you should have lots and lots of money.. And, why should you?

In the grander scheme of things, Bitcoin really is small chips. The equivalent of a pennystock. The Winklevoss twins for example reportedly own around 200'000 BTC? How much of that stack and how much corresponding fiat would it take for them to ramp (or crash) the Bitcoin price as it is defined on the 4-5 large exchanges? Relatively speaking, not very much right? With the tailwinds of the pending MACD and MA crossovers gearing up behind Bitcoin, perhaps now is the ideal time to engineer another Bitcoin mania bubble? Perhaps Joe Public isn't that interested at the moment, but if/when Bitcoin takes out it's previous ATH's, then he will come charging in once again, just like he did at least twice before. I should know, in Nov 2013, I was Joe Public.

If you owned 200K BTC, would you prefer for Bitcoin to trend around $500 or whatever and slowly make it's way up as adoption increases, or would you a great big headline hitting cash cow mega bubble, that takes Bitcoin up to $5K or whatever?

If you had the means to 'help' such a bubble come to fruition, and you never had to do anything illegal, you might just be tempted to do it, right?

[Melbustus]

...
The Winklevoss twins for example reportedly own around 200'000 BTC?
...

It's closer to 100,000BTC.

[knightcoin]

Pump up the jam, pump it up
While your feet are stompin'
And the jam is pumpin'
Look at here the crowd is jumpin'

Pump it up a little more ...

Technotronic - Pump Up The Jam
https://www.youtube.com/watch?v=9EcjWd-O4jI