ampere9765
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April 09, 2014, 11:37:15 PM

Relax guys, price will obviously go higher. Look at bitstamp:

- they are buy orders in value of 14.000 BTC in total from 440 down to 398 USD
- on the other hand they are sell orders in value of 4.698 BTC in total up to 484 USD (from 440 USD).

So basically, while people would buy 14.000 BTC by the time BTC would go down to 400, there is ONLY 4.698 BTC on the selling side up to 484 USD.

I think this says all: people are not willing to sell their bitcoins at this price, which is the correct attitude. Excepting some idiots who are selling (I think everybody's an idiot selling now), people are just holding. Imagine, 4.698 BTC for sale from the almost 13.000.000 on the market... that says a lot about it (and also about how stupid people selling at this price are).

I am sure that by the end of 2014 BTC will be at least 2-3.000 USD.

Order book is completely meaningless. Large holders on both sides are just manipulating you. If your analysis goes no deeper than this, I hope you are not a trader.