what caused the rise to $1100 last year?

[ShakyhandsBTCer]

Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?

People are overestimating the power of two bots.

Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.

Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.

If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.

Exactly. Now there isn't much spread between exchanges  Price of Btc-e is very similar to price of Bitstamp !

The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange. 

[1714985098]

1714985098

[1714985098]

1714985098

[nwfella]

Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?

People are overestimating the power of two bots.

Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.

Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.

If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.

Exactly. Now there isn't much spread between exchanges  Price of Btc-e is very similar to price of Bitstamp !

The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange. 

Whoa whoa wait a minute here...you mean you where actually able to withdraw coins late last year and even early this year?  Boy, you must either be really lucky or know somebody.

Also, I disagree with the comment regarding Willy bot not having some serious price manipulation effects on the price of bitcoin up to the $1200 bubble.  Even near it's demise gox still had one helluva large percentage of all the exchange traffic despite the writing on the wall for sometime.

[Gianluca95]

Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?

People are overestimating the power of two bots.

Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.

Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.

If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.

Exactly. Now there isn't much spread between exchanges  Price of Btc-e is very similar to price of Bitstamp !

The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange. 

Right, but time to have money was too much longer in Mt-Gox. I remember that the time for a payment in Mt-gox was 3-4 week !

[ShakyhandsBTCer]

Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?

People are overestimating the power of two bots.

Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.

Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.

If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.

Exactly. Now there isn't much spread between exchanges  Price of Btc-e is very similar to price of Bitstamp !

The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange. 

Right, but time to have money was too much longer in Mt-Gox. I remember that the time for a payment in Mt-gox was 3-4 week !

There were a lot of people who were not willing to wait that long.

[Harley997]

Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?

People are overestimating the power of two bots.

Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.

Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.

If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.

Exactly. Now there isn't much spread between exchanges  Price of Btc-e is very similar to price of Bitstamp !

The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange. 

Whoa whoa wait a minute here...you mean you where actually able to withdraw coins late last year and even early this year?  Boy, you must either be really lucky or know somebody.

Also, I disagree with the comment regarding Willy bot not having some serious price manipulation effects on the price of bitcoin up to the $1200 bubble.  Even near it's demise gox still had one helluva large percentage of all the exchange traffic despite the writing on the wall for sometime.

I think they were just slow with withdrawals, not stopping them completely

[makebitcoin]

I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.

[Febo]

For me it was 100% CHINA.

so now we need to add India and Brazil and mix it well and will get to 10k

[bryant.coleman]

I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.

That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.

[Swordsoffreedom]

I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.

That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.

That market was a strange one at the time
Gox could be 400 to 500 dollars below BTC-E and every other exchange at the time

Perhaps it was the fact you couldn't move the coins out that forced the premium but to me this was classic speculation and bots trading back and forth on their ecosystem before it crashed.

[ajareselde]

I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.

That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.

that can also indicate that demand was more east based.
i also think trading on mt.gox was strange, but general uptrend was worldwide and across all exchanges, so its possible that the rest of us were only lagging behind.
same thing now with stamp and huobi on one side, and btc-e on another

[worhiper_-_]

i don't really know a lot about bitcoin! but  i believe that  they rised it to 1100$  so that they get faster attention from people! don't u think everyone would go  crazy about mining in bitcoin after they hear this? also it's quite free so..

[Harley997]

I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.

That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.

that can also indicate that demand was more east based.
i also think trading on mt.gox was strange, but general uptrend was worldwide and across all exchanges, so its possible that the rest of us were only lagging behind.
same thing now with stamp and huobi on one side, and btc-e on another

The giant spread was caused by the fact that people were unable to withdraw fiat from the exchange without great delay, causing people to panic buy their bitcoins back

[Skele]

Why are we talking about the past, let's talk about the things that will come.

Bitcoin will rise again to that value or even more, with or without help of rumoured bots.