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Thread: Bitcoin Price Update

  1. #61
    Gox is quickly losing influence. Lots of liquidity, but also many problems withdrawing USD, hence the $10 price difference. Also lots of old coin there with bots trading it back and forth. Not the place to be if you're a new trader.

    Watch Bitstamp and btcchina to get a better overall picture.



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  3. #62
    Quote Originally Posted by amonasro View Post
    Gox is quickly losing influence. Lots of liquidity, but also many problems withdrawing USD, hence the $10 price difference. Also lots of old coin there with bots trading it back and forth. Not the place to be if you're a new trader.

    Watch Bitstamp and btcchina to get a better overall picture.

    watch em all..

    http://bitcoinwisdom.com/

  4. #63
    Quote Originally Posted by newbitech View Post
    Oh I do

    China just woke up, btw.

  5. #64



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  7. #65
    Hit $258.88 on MtGox.
    Rand Paul 2016

  8. #66
    I guess this is first time a 3B market cap has been realised according to mt GOX price?

  9. #67
    Sell price = $244 right now on Coinbase.

  10. #68

  11. #69

  12. #70
    269.79999 on the Gox. All time high! Now down to 259

  13. #71

  14. #72
    take a look at your weekly chart.

    This is bitstamp since it seems to be popular these days. But same levels in place across the board for the most part.

    Basically, there is a stable trend since BTC broke out it's $30 cap. I have that trend marked in yellow.

    At this time, BTC is extremely overbought, more so than it was on the initial breakout. This is because volume is about 2/3rd less with prices being about the same. So don't see that in this particular snapshot since bitstamp is a much smaller slice of the overall market.

    Suffice to say, there is approximately 2/3 less volume in the overall market now than when we saw prices at these levels earlier this year.

    I believe this level is definitely a medium to long term top. Pressure is certainly on to sell.

    I have 3 levels I am watching on the down trend.

    200, 150 and 100 approximately. I will be a buyer at all those levels.

    I am also watching 300 level. If somehow the price manages to crack 300, I suspect the price will quickly double up to 600. Not holding my breath on that call.

    I look for a nice bounce off 200 in the counter trend, then again at 150, and ultimately a reach down to the major stable support line somewhere around 100+.

    I predict the next major low is 113.05 in about 6 weeks. Just in time for Christmas profit taking.



    Last edited by newbitech; 11-06-2013 at 03:43 PM.



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  16. #73

  17. #74
    Quote Originally Posted by newbitech View Post
    I have 3 levels I am watching on the down trend.

    200, 150 and 100 approximately. I will be a buyer at all those levels.

    I am also watching 300 level. If somehow the price manages to crack 300, I suspect the price will quickly double up to 600.
    Shouldn't we be figuring in "psychological barriers" in other currencies, too? It is my understanding, after all, that the 1000 "barrier" for the BTC in the Yuan was what kicked this surge off in the first place.
    Last edited by anaconda; 11-06-2013 at 07:38 PM.

  18. #75
    I have a $500 top, but would be content with a crash. I've set aside money to buy a certain amount over the next 8 weeks...of course once I'm done with that the price will finally drop.
    Rand Paul 2016

  19. #76
    Quote Originally Posted by ronpaulfollower999 View Post
    I have a $500 top, but would be content with a crash. I've set aside money to buy a certain amount over the next 8 weeks...of course once I'm done with that the price will finally drop.
    I had a different strategy. I sold and the price immediately skyrocketed!

  20. #77

  21. #78
    The guy with the 4.5k sell wall at $267 is going to get burned. First time I've seen Stamp consistently ahead of Gox.
    Rand Paul 2016

  22. #79
    Quote Originally Posted by anaconda View Post
    Shouldn't we be figuring in "psychological barriers" in other currencies, too? It is my understanding, after all, that the 1000 "barrier" for the BTC in the Yuan was what kicked this surge off in the first place.
    those aren't really psychological levels on the technical chart tho. Yes, I've looked at the other currencies, the pattern is the same for the charts we have full data on.

    The 1000 yuan barrier correlates very nicely with the breaking of the 150 resist level in the USD that goes all the back to the bounce of the crash lows in march.

    I try not to pay too much attention to the number and look more at the pattern. Interestingly enough, gox has cracked 300 rather handily, we'll see if the rest of the market comes along. If so, eeshh.. I will be wrong and pretty much be stuck waiting for ANY significant dip to reenter.

  23. #80
    I got out at 310. This jenga tower is too tall for my nerves.



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  25. #81

  26. #82
    BTC has broken 300... litecoin is 4.20 (From less than 3 on Monday). China is jumping in big to carry this wave.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  27. #83
    is litecoin a good investment?

  28. #84
    I think if Bitcoin catches on, there will be a market out their for cryptos. Litecoin, PPC, Devcoin, and maybe a couple of others might find their niche in the crypot market. One crypto coin I've been interested in (outside of Litecoin) is Namecoin. I'm not the best out describing how it works, so here's a video I found that kind of gets into it.

    FWIW: In addition to Bitcoin, I own a couple of Litecoins. I also have some Namecoins (the mining group I belong to mines Namecoin and Bitcoin) that I'm holding on to just in case it really catches on.
    Rand Paul 2016

  29. #85
    Quote Originally Posted by Shane Harris View Post
    is litecoin a good investment?
    I think it may be. I took a chunk of my bitcoins and converted to litecoins expecting that it will be a wise move.

    Litecoin was the first serious alternative and is basically a version of bitcoin that changed the hash algorithm to be more "fair". It has a few years of work behind it, the community it good, and they pitch themselves as the silver to bitcoin's gold standard. It's jumped to $4.25 and climbing. Further litecoin is not on the major exchanges yet. MtGox announced earlier this year they would add litecoin. I think once litecoin is on more exchanges and becomes easier to buy the price will change drastically.

    However if bitcoin keeps rising so fast the valuation of btc/ltc may not keep up and I'll have lost some profits. That's a risk I'm alright with.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  30. #86
    Quote Originally Posted by jtap View Post
    I got out at 310. This jenga tower is too tall for my nerves.
    Looks like you made a good call.

  31. #87
    Quote Originally Posted by ronpaulfollower999 View Post
    I think if Bitcoin catches on, there will be a market out their for cryptos. Litecoin, PPC, Devcoin, and maybe a couple of others might find their niche in the crypot market. One crypto coin I've been interested in (outside of Litecoin) is Namecoin. I'm not the best out describing how it works, so here's a video I found that kind of gets into it.

    FWIW: In addition to Bitcoin, I own a couple of Litecoins. I also have some Namecoins (the mining group I belong to mines Namecoin and Bitcoin) that I'm holding on to just in case it really catches on.
    Don't touch Devcoin. It has no cap. Might as well call them FRN's. Whoever modified the code for that coin was a dumb ass.

    I propose a new name for USD or FRN's around here. How about Slavecoins?

  32. #88
    so in mid 2011 there was a 2 month rally where the price went from 0.9 to over 30. Approx. x34.
    this spring the price rallied from 15 to 255. Approx. x17.
    Now from 140 to 1150? Approx. x8.5?



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  34. #89
    Quote Originally Posted by Paladin69 View Post
    Looks like you made a good call.
    haha. Looked good for a bit until it went to the moon again.

  35. #90
    Quote Originally Posted by newbitech View Post
    take a look at your weekly chart.

    This is bitstamp since it seems to be popular these days. But same levels in place across the board for the most part.

    Basically, there is a stable trend since BTC broke out it's $30 cap. I have that trend marked in yellow.

    At this time, BTC is extremely overbought, more so than it was on the initial breakout. This is because volume is about 2/3rd less with prices being about the same. So don't see that in this particular snapshot since bitstamp is a much smaller slice of the overall market.

    Suffice to say, there is approximately 2/3 less volume in the overall market now than when we saw prices at these levels earlier this year.

    I believe this level is definitely a medium to long term top. Pressure is certainly on to sell.

    I have 3 levels I am watching on the down trend.

    200, 150 and 100 approximately. I will be a buyer at all those levels.

    I am also watching 300 level. If somehow the price manages to crack 300, I suspect the price will quickly double up to 600. Not holding my breath on that call.

    I look for a nice bounce off 200 in the counter trend, then again at 150, and ultimately a reach down to the major stable support line somewhere around 100+.

    I predict the next major low is 113.05 in about 6 weeks. Just in time for Christmas profit taking.



    Can you redraw this with the top at 500 and give a new correction speculation?

    I'm curious.

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