Rally!!!!!

[Otoh]

Somebody just bought all bitcoin for sale up to 3.7 gbp at intersango (was trading at ~3.3 gbp).

I expect that it was someone who got fed up with waiting for their GBP bank withdrawals to be fixed, I was in the same position since last week but fortunately someone took my bid to buy about 400 BTC @ 3.27 yesterday which I was very surprised & happy about, I immediately sent the coins out & now have a zero balance on Intersango & whilst it might be tempting to send them back & put an ask up @ 3.37 I think that I'll just wait until their bank is working again & any mass leak of maybe Patrick's emails comes to be released plus any other Bitcoinica fallout, as I understand it they are the owners & managers (with a VC backer) so they're the one's to sue & apply to freeze bank accounts, declare bankruptcy, if there's not a happy ending for ZT's victims on the near horizon

we're between 2 eclipses atm & my astro senses say play it safe at least until after Monday next week  

[Seal]

I expect that it was someone who got fed up with waiting for their GBP bank withdrawals to be fixed, I was in the same position since last week but fortunately someone took my bid to buy about 400 BTC @ 3.27 yesterday which I was very surprised & happy about, I immediately sent the coins out & now have a zero balance on Intersango & whilst it might be tempting to send them back & put an ask up @ 3.37

Somebody has beat you to it, they have an ask at 3.31 for 1236 BTC

[Otoh]

yes, I saw that going up, not sure what happened with it as I went to bed but after was the push down to $5.01 from Gox I assume, wonder if they were connected, anyway high bid now @ £3.39 & low ask £3.40 atm, heard that their bank issues may have been sorted out but still not much in the way of asks there still

[elux]

It's time!

[SgtSpike]

It never fails... always right after I sell my latest batch of minted coins, the rally happens.

Next time I'm telling you all when I sell my coins so that you know when to buy in.

[hazek]

Man, please let this not be a huge bubble again.. 

[cypherdoc]

Man, please let this not be a huge bubble again.. 

it won't be.  this will be healthy growth.

[hazek]

When the pendulum swings it always overshoots the equilibrium so I'm certain we'll get at very least a small bubble I just don't want it to get prolonged and blown up into an unsustainable mania like last year.

But of course the market will do what the market will do..

[cypherdoc]

When the pendulum swings it always overshoots the equilibrium so I'm certain we'll get at very least a small bubble I just don't want it to get prolonged and blown up into an unsustainable mania like last year.

But of course the market will do what the market will do..

i actually agree with this.  it'll be interesting if this dynamic will come into play this time around though since we've already had our bubble. 

it really looks a lot like the NASDAQ bubble top from 2000 with a decline and slow rise to now.

there are still plenty of skeptics around.  the economy has matured significantly since last year and like you i hope it grows more organically.

the good news is that there is only a fixed supply of coins and they are still very far from their equilibrium price IMO.

[slothbag]

Is it just a coincidence since Bitcoinica has halted trading and there is no longer a way to profitably short the price that it is now creeping upwards..

It would be more reassuring if Bitcoinica was still operational and the price slowly rising..

[dree12]

Man, please let this not be a huge bubble again.. 

Back in January, I forecasted a March bubble. I was 90% confident, and displayed that 90% confidence to the forums. Why? Because history repeats itself, and the exact same sitations were brewing.

Boy was I wrong. Bitcoin has strengthened, and I am definately not forecasting another bubble.

[RyNinDaCleM]

 Bitcoin has strengthened, and I am definately not forecasting another bubble.

Agreed! Evidence over the past few months shows this. In the more distant past, if the price stagnated too long, there was sure to be a massive sell, closely followed by panic. We have been just creeping up lately, and this is a great sign of a maturing market. 

[adamstgBit]

 Bitcoin has strengthened, and I am definately not forecasting another bubble.

Agreed! Evidence over the past few months shows this. In the more distant past, if the price stagnated too long, there was sure to be a massive sell, closely followed by panic. We have been just creeping up lately, and this is a great sign of a maturing market.  

the market has gotten bigger.

We are about to asses its growth.... bubble #2 is defiantly happening

[hazek]

Here we go..

[dree12]

 Bitcoin has strengthened, and I am definately not forecasting another bubble.

Agreed! Evidence over the past few months shows this. In the more distant past, if the price stagnated too long, there was sure to be a massive sell, closely followed by panic. We have been just creeping up lately, and this is a great sign of a maturing market.  

the market has gotten bigger.

We are about to asses its growth.... bubble #2 is defiantly happening

I posted this in December 2011:

We are on a mammoth upswing right now. Many people who use technical analysis are assuming that the indicators are pointing to a strong rise and further increase. The period of time between May 1 and July 31 is detailed below:


As you can no doubt see, all indicators (and volume) turned massively up before the giant crash. The current market situation is simulating the period of time before that. We have not yet reached the point where all indicators are hard up, and there is still no sign of an impending top, or at least not one yet.

The sample size of the "indicators turn to bubbles" is 1, so don't take too much out of this analysis. However, I would advise caution for anyone with a long position if the indicators continue pointing towards strong, rapid, gains, and if volume increases dramatically. Some members of the bitcointalk forum propose a correction to the rally; if this occurs, it will remove any immediate threat of a bubble.

As a footnote, notice that the NVI is not very useful when applied to the 2011 bubble. It is included here because it has been consistantly high the period of time before the 2011 bubble, and if our NVI continues the uptrend further bubble development is possible.

The conditions were ripe. But I was completely wrong. I learned that bitcoin has matured, and my bet is that you will too.

[adamstgBit]

December 2011

crazy bubble only a few weeks behind, hacks left and right, extreme skepticism

The conditions were ripe.

really?

[dree12]

December 2011

crazy bubble only a few weeks behind, hacks left and right, extreme skepticism

The conditions were ripe.

really?

The speculators of the day certainly thought so.

Call me when bitcoin reach 30 again  

As others have pointed out, getting to those numbers is going to be much, much more difficult than before.  There's going to be more selling pressure on the way up in addition to there being more standing orders on the order book this time around.  It'd take ~$2,000,000 to move the price that high right now.  In reality it's going to take several times that amount as people actively sell.

I think it’ll be easier as Bitcoin now has a wider reach and proven that it will stay. The peak volume we had at the top was ridiculous, so it won’t be too hard to surpass that. I’m expecting people to get euphoric and withdraw/put their asks much higher at some point.

Call me when bitcoin reach 30 again  

As others have pointed out, getting to those numbers is going to be much, much more difficult than before.  There's going to be more selling pressure on the way up in addition to there being more standing orders on the order book this time around.  It'd take ~$2,000,000 to move the price that high right now.  In reality it's going to take several times that amount as people actively sell.

I think it’ll be easier as Bitcoin now has a wider reach and proven that it will stay. The peak volume we had at the top was ridiculous, so it won’t be too hard to surpass that. I’m expecting people to get euphoric and withdraw/put their asks much higher at some point.

yes, as usual Proudhon has it backwards.  

i never sold as we tanked.  in fact, i accumulated more.  and i certainly will NOT sell on the way back up to 32 as i'm expecting it to go way beyond that to at least gold parity.

the gold bubble is over and all that money is going to come here.

ElectricMucus has unfortunately been away ("RIP Bitcoin") but his posts still speak.  As I recall, he was a huge bear.
Even he says there is a possible market reversal

Revised Nagle™ Chart



We broke through the short term accelerating downtrend and are about to challenge the overall downtrend. It's a 45 period exponential, added a 90 version to indicate possible market reversal.

RIP ElectricMucus.

definitely bubble #2

Since predictions made by btc-economists and btc-traders vary so widely that they cover the whole range of possible outcomes (major correction incoming!! major bubble in progress!! etc), I have no shame in making my very own pseudo-science prediction: I predict damped oscillation

yep, bitcoin definitely resembles an oscillator if we look at some peaks a year back. So prepare for a bigger "bubble", or wave...

 

Also, if I may, few hacks occurred around December. See the list I compiled here: https://bitcointalk.org/index.php?topic=83794.0.

[hazek]

weeee

[runlinux]

omg, someone is tossing around 27k coins at 5.25...

[adamstgBit]

December 2011

crazy bubble only a few weeks behind, hacks left and right, extreme skepticism

The conditions were ripe.

really?

The speculators of the day certainly thought so.

wait a min,  this is what December 2011 looked like




i think you got your dates wrong...