Guys, can we stick to the thread? I want charts, Doomsday and moon postings. No more HF, segwit and bullshit posts.
What do you think about the price movement? I for once thought the uprise stopped and would slowly decrease. But since we bounced back @415 yesterday I'm not quite sure about that
Yes, wishful thinking stopping the various FUD, quasi-off topic and trolling.
I personally have little clue about the price direction on the short term.. with the various ongoing price manipulations that seem to be occurring and even the seemingly relatively speaking low volume.
It would be nice to get some high volume upward price action to bring us past $467, but I am having my doubts about how long it is going to take for such an event to occur because when we have fairly low trade volume with upward and downward girations, we have the sense that there is not a whole hell-a-va lot of passion out there regarding bitcoin pumping (to get us to move upwards), and when low volume is sustained, then the price is being controlled by a fairly small amount of capital, which means that BTC prices can be driven down with a few thousand coins dumped over a few hours.
Surely, the whales need more than a few thousand coins and capital to control bitcoin prices, but relatively speaking, it is not a lot when the volume is so low on an ongoing basis.
Accordingly, if there is high trade volume with upward price movement (for example, averaging more than 15k coins per day on Bitstamp for more than a week), then that level of trade volume signifies that we have a pretty decent BTC price battle going on (and some passion in the fight between the bears and the bulls)... otherwise if there is not a passionate battle, then little by little bears can control and manipulate and surprise with dumps...
To me, I kind of assess that we have not experienced such a sustained BTC price battle for more than 8 weeks... so can become a bit nerve racking.. to witness the bears kind of controlling and the FUD receiving too much attention... and the passion for upward movement is not quite high enough to cause upward umph.
Prior to 8 weeks ago, we had about 20 weeks of a decent and sustained trade volume which really was a price battle that brought us to our current approximate floating price (largely floating between the $360s and the $460s during this kind of waiting and see period.. maybe even a kind of consolidation range.. at least for the moment, until passion increases... which will come, sooner or later.. hopefully sooner...
).
Thank you! I think that sums up the past few weeks. Like you said, the volume is quite low. I'll see if the price will drop a little further
I think we'll see 410 again, this week. You guys think it could slip to 370-380 for a day and recover quickly? Too much support? I'd love that idea of buying them cheap
