aaaaand the rally's dead..... or has it just started?

The volume is so low - 61k - compared to around 310k yesterday

These people are crazy! I was falllin asleep right when price goes from 120 to 134 in like 10 seconds! Good I bought at 118 then sold at 132. Then thankfully it got bit boring again until all the sudden price goes to 125!.

I don't think it can manage to go below 125. As for top, I thought we might see 140. It seems unlikely though. Theres a lot of resistance around 134.

Doesn't seem like we are going anywhere for now. 125 to 130 until tomorrow evening I think.

I think we can post whatever we want here. I haven't seen any posts deleted and OP said that it isn't actually being moderated.

annnnd down down down

Does anyone know what happened when it got hacked in 2011? Did the website show a 502 bad gateway? Was there lag? Or did everything seem normal as far as users were concerned?

Am a bit worried to be honest. Mt gox seem so incompetent. Once ok fine, but twice within a week and a half! What have they been doing during all this time that they can still be fuckedddossed?

If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.

That said, last time we got a lot of bad news in relation to exchanges, i.e. bitfloor shut down and problems with blockchain and bitcoin24 the price went from around 70 to 135.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

Annd moody is on again.

Now get the popcorn guys and enjoy the downwards ride to probably 80

What makes you say that? To me it seems like there's a "stable" balance around 120-125.

wtf just happened?!

From 129 to 125 in 10 seconds

Me bear right now.

The question is, how low can we go? 130? 100?

Or maybe fear is taking hold. No one wants to repeat the hold at 266 mistake.

The buying pressure seems slugish. The selling pressure is intense. We continue with the 10th of April crash down to 47.

You joking right? Articles about bitcoins aren't fundamentals. Arguably, exchanges aren't either, but practically speaking they are and they have been dropping closing like flies.

What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.

Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.

Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.

Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.

Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.

For these reasons, unless we get some big good news, the bear has killed the cat.

That said though, we got this mini crash probably because of all the recent problems with Silk Road. By Monday we might be racing to 200 again.

Not sure where you getting your data from, but I see no wall at 136 or anywhere above 121

Got to take out 125 first

"I think the milli crowd"

Shouldn't we just call it one bit, rather than a milli. So it's basically like cents to dollars, bits to bitcoins.

What happens on tuesday?

Bitcent gives you a full mouth. How about bent haha

To be honest I like bits and its so uncreative so thats prob what everyone will call it.

Bitcoins, bits and satoshis.

Nothings happening. We are stuck on 127. 

Why would anyone want to DDos silk road? I mean they're a shop!

But thanks for the info.

I say we touch 100. This is a bear market afterall. The selling pressure seems intense.

I'm done. I call 91 the bottom for today.

What 97 wall? The walls have gone.

Now its a buyers market. I call 115 the top.

There seems to be a lot of support at 97, I can't see it breaking.

For bottom though it seems that 79 is it for today.

Yeah sorry the flipped 79,97 seems to be playing tricks on me haha

We might go down, but I don't see it going lower than 79 today.  

By the way what's going on with silk road? Any news? Any indication as to when they might be back up?

Does anyone think we might have hit the bottom at 79 and now time for another rally before we go down further?

What happened to the 97 wall?

Fuck that. 9,000 on 90 now.

I say we are going to the mooon guys.

 

I don't know. I don't know why, I just think 79 was the bottom for this round. the move from 80 to 97 was similar to the move from 50 to 70. i.e huge buys followed by huge walls. Moreover, the price has been going sideways for a few hours. That usually seems to mean a change of direction.

Either these bid wallers know something we do not, or, we are being fooled.

125

Who is going to test $80? There are no more sellers left. The price has not stayed still for more than an hour for the past 3 days at least. There had been a constant selling pressure. There has been no selling pressure since 8 hours ago. To me it seems that there are no sellers left.

That's your wall?

It will be eaten without being chewed at all I say

Damn it, I wanted to go to sleep. Now I'm glued to how high it will go

Just because you might have a lot of bitcoins does not mean you know anything. You have been wrong time and again. Some of your posts just sound delusional. The sentence I quoted suggests you are too arrogant.

Either you are trying to get the community to dislike you, or, you have dick problems.

Now, I don't care what you own or how much you own or any of it. What I care about is the price movement of bitcoins. So, can we stick to it?

Oops, $104.

I say give it two hours for $105, unless the bears run and cancel their 104 asks.

Wow 1,500 btc on 103 already. What was resistance has become support.

Have we ever gone up during a weekend? I've only seen downwards for the past month at least.

Lol did I say two hours?

I meant twenty minutes. 105 exactly right now.

Btw, how do you post charts here? Do you have to take a screenshot first, and then what? Is there an easy way?

There's no more than 2k btc to 110 now.

I find it quite interesting that we went up so fast to 107 and the selling pressure seems so lacklustre as it only brought us down to 105.

I think we got a rocket on fire.

2500 btc on 103

They might just be unsure. I doubt it is going anywhere now.

1000 on 107. Resistance has again become support.

1500 at 110

Support keeps moving up.

I find it quite telling that we went from 95 yeasterday to 115 and the bears can barely get the price down to 111.

The buying pressure seems intense.

I think we are going to hang around 110 - 115 for the next to hours then shoot another leg to 120.

Looks like resistance at 110 - 115 is waning. Time for 120?

I don't think we will see 105 again today. If the posters here are correct that the wall at 111 was eaten rather than pulled - I wasn't here so did not see it - I think then 120 will become support today.

Right

2k on 113-114

Bears, I say, run for your lives!

Yup, I knew those bid wallers at 90 knew something I didn't. The download yesterday went from 1000 to 10,000 to 20,000 today.

Lol massive dump could barely get it down to 110. Weak I think considering we moved from 95 to 115 in such a short time.

I think a lot of people moved their bids from 70/80 to 90-100

Well bored. I thought we will hang around 110 - 115 for two or three hours but a day or two seems more likely now.

Yup, this 85 year old man has heard about bitcoins. That suggests that we are reaching mainstream time.

1000 by December? This by the way would mean that bitcoins has a market cap of only 11 billion. Isn't that no more than the yearly profits of one major bank?

Someone from Forbs is only using bitcoins to pay for stuff for one week.

Ahh that's why it says automated posting?

I can't read those 3d charts though, they tell me nothing. Can you explain them?

So, according to exponential growth, what will the price be on Monday? We all know if 1 billion buy 1 bitcoin it would be a lot - still not 300k, 50k, but when are 1 billion people going to adopt it?

Do we even know how many people have bitcoins today?

Finally some movement, but not now, I need to go to sleep!

Go back, go hang around 112 and tomorrow leg up to 125

108 is holding pretty well. I can't see us going below it.

Money is poring in. I don't think the bid walls are fake. There is 8k to 105, 12k to 100 and 20k at 100. All this is money waiting to buy. The question is not if, but when. On Tuesday I think we will see bonfires.

I predict 135 for Tuesday, 125 for tomorrow. I now think that we may see an all times high in one - two months rather than two - three months.

Needless to say, I think the bear market finished at 50.

I would guess that it wouldn't be very smart of him to just wait at 100. Considering that the price might shoot up at any point, I think a staring game is going on of when to buy to be first.

I feel so sorry for those guys that were waiting for 70. I feel even more sorry for those guys that are now waiting for 105.

Why on earth do you think we will go back to 70 any time soon?

By soon I mean 2015

Yes I was hinting at the next bubble burst, but you are probably right, I doubt the bottom of the next bubble will be 70.

I guess what I meant really was that we simply are not going to see 70 again in my opinion. I think since 50 we've had an uptrend, higher lows and higher highs.

And of course 300k is not realistic. That means btc has a market cap of 330 trillion. That's not going to happen for the next 20 or 30 years at least if ever.

You wouldn't be trading BTC. You just place a bet on the price going up or down.

I think the bidwaller would be a bit stupid if he dumped 10k seeing as the price is rising and all the indications are of a rally.

I think he is just desperate for people to eat into the wall, but no one is touching it. So I think he might loose patience and put a market order.

Why is no one selling or buying 116 - 117 is boring me.

Wow that graph is soooooo nothings happening.

The wall ain't going anywhere guys except for a buy market order.

I don't see what's so unreasonable about wanting to buy at what seems to be the current market price. Would putting 5k on 115, 5k on 110 and 5k on 105 seem less menacing? Can he really put 1k from 115 to 110 and that somehow would seem less scaring?

How exactly can this guy buy his coins except for out of the order books and even then you might not know how to buy them outside the order book.

He already sold 5k by the way. The wall was 21k on 100. It was taken off. The price went up through a market order to 118 from 108, then the reduced wall of 15 was put on 110.

This guy wants to buy coins. Sell him some.

So we got to 125. All going as planned. Now 135 for tomorrow.

Btw reptilla thanks for those sells at 119 down to 108. Without your volatility it would have been a shit Saturday/Sunday.

I was asleep so does anyone know how many coins were bought to get us to 125 from 117? Last night it seemed to be around 8k, but did that change?

I think the wallzilla guy might have another 7 - 5k btc to buy. So we might see 130 today.

For 1btc to be worth $300k, it would mean that bitcoins has a market cap of 330 trillion dollars. That is, 330 trillion dollars would need to be spent in buying bitcoins. That is not going to happen. Not this year, not this decade, probably not even this century unless we get an American Zimbabwe.

No one knows how many btc would be traded if 1 was worth 10k, 100k, or 300k. Anyone made a comparison with how many were traded when they were worth 3, 10, 30, 100 etc.

In any event, that would require an investment of half a trillion into bitcoins. In 5 - 10 years maybe. In 5 - 10 months? I don't think so. We need to get to 1k for a bitcoin first, then 2k, 5k, 10k, then 50k, then 100k, then 200k, then 400k. Give it a century.

BTW, what does everyone think the top will be before we dive downwards again?

I say 180

Bit boring watching the price right now.

There hardly seems to be any selling. The 124 is relentlessly being pursued. Quite a bit of resistance around 122. Little resistance around 124 - 125, just bears sitting there waiting to be eaten.

I think not much is going to change until late afternoon.

Lol

We gone from 80 to 125 in 2 days and bears can't even take it down to 120.

Can't profit from this war though, so can we have a winner and do these movements within some boundary.

I didn't mean just touching it, I meant make the price hover around some lower point than 120.

But yeah its around 117 - 118 now. Still, I sense bear weakness and bulls holding ground.

Nice. Silk Road fully up.

It seems to me things are heating up for the next leg up to 135.

Will it be this evening or tomorrow though?

Its different images. It shows the price movement in three dimensions. Mainly how it has changed in the past hour.

Ohh look, everybody woke up with money in their MT account.

When was 125 tested? We have not even reached 125 yet. The high is 124.9.

Plus we only got above 120 this GMT morning.

You wouldn't be able to crash anything. There's 2.5k to 117 and the price would quickly shoot up back to 120-121. You'd just be loosing money like last time haha

We're on an uptrend. If the bull is charging towards you with his horns you better move out of the way.

Now if you buy 2k btc, you'll probably make some decent money.

"CFTC head Bart Chilton told the paper Bitcoin “is for sure something we need to explore,” adding, "It's not monopoly money."


Bullish or regulation bad sell?

http://www.businessinsider.com/cftc-considering-bitcoin-regulation-2013-5

Quick, someone make a JPEG Meme with: "It's not Monopoly Money".

"That's not what "regulate" means. It means when exchanges get legal protections, and scammers can be prosecuted. CFTC watches over exchanges of commodities, and makes sure people aren't running ponzi schemes etc. This sort of thing is important for BTC to make it onto mainstream forex markets."

So the news is bullish? Anyone has any opinions?

Right

That could have gone way more badly

I think bulls we can now safely start slaughtering bears again.

China to the rescue!

This is crazy. A mere whisper of a we are thinking about, possibly, maybe, considering regulating bitcoins sends a massive train wreck down to 106.

The speed with which those walls were eaten! I was thinking, 7k from 112 to 110, no way they getting below that. Well, it took 5 minutes.

Thankfully china came to the rescue though (lol). I thought 106 was going to fall without fight too, but it stood.  

Now it seems there are no more sellers left. Back to upwards marching we go I think.

Bids creeping up.

Everybody is like, ohh so we can buy now?

"The legality of bitcoin has been questioned by some regulators"

http://dealbook.nytimes.com/2013/05/06/a-push-for-a-bitcoin-buttonwood/

Does the New York Times know something I don't?

I see fake walls everywhere.

"I would argue very strongly that the rigid application of US financial reporting rules would bring [bitcoin] to a stop pretty quickly. And that is all the authorities really need to do. Volumes in Bitcoin are far too small for it to be worthwhile filing all the paperwork that could be demanded: so if it is demanded then financial institutions will simply stop handling any payments or transfers that have anything at all to do with Bitcoin. "

FUD or serious shit?

http://www.forbes.com/sites/timworstall/2013/05/07/now-this-really-could-make-a-dent-in-bitcoin/

Bid sum keeps rising.

Time for 125

Nice, option trading comes to bitcoin

http://www.sacbee.com/2013/05/07/5400935/anyoption-offers-bitcoin-options.html

Does that mean you can short it now?

"The volume of dollars it’s converting to Bitcoin is increasing at a rate of about 15% a week"

Wow that's huge. I wonder what the stats are for mt

When did you turn into a bear?

Why would anyone spend money to spike the price up?

Lool at the running fake walls

I don't know. Reddit looks quite bullish. 40k subscirbers was passed today and it is already 40,116.

Plus top headlines:


Ex-Facebook Exec says Facebook Should Bring Bitcoin into the Mainstream. Wow! (businessinsider.com)



Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup - WSJ (blogs.wsj.com)



How 23-year-old Charlie Shrem became a millionaire through Bitcoin (londonlovesbusiness.com)

1k, 5k, even 10k seems a lot but this much is being sold and bought almost every hour now.

Bid sum keeps racing towards the all time high and the wall at 111 has shown to not be fake.

It seems to me that if there are no bad news, the trend is up.

I thought yesterday we would be going down to 90, but 57, 79, 97 makes sense. Next bottom 120.

It has become support. As 110 is the psychological number, in an up trend people trade above 110 because they want to buy the coins, so the support moves up.

"ForexMinute.com, the world’s leading forex news portal, is now assisting global traders shorting Bitcoins."

Bitcoin, coming to a forex near you. Soon it seems mt will become obsolete.

Wow, 30 million dollars is being traded almost every day.

http://i.imgur.com/TdYkm6z.jpg

Here comes the manipulator

Kill him bulls lets see him run for his life

Monster bid walls say hello

are they fake? orrr

The wall was 10k actually then 5k then 0

Maybe he changed his mind and is going for a market order?

I can see dry paint.

Does anyone have any theory as to why we've stopped at 112-114?

I guess you're probably right, but 6k isn't that much. The bid sum has just touched the ask sum, might be crossing any time now. We should be at least at 117-118.

The volume is almost half of what it was during the weekend though.

3 million downloads

http://i.imgur.com/8IZehaV.png

Does that mean there are at least 2 million bitcoiners? So if we average that, everyone has put in 500 dollars into bitcoin, giving it a current market cap of 1 billion.

You're not suggesting we've reached saturation?

"We have decided to offer Private International banking to Bitcoin Customers, Merchants and Traders"

http://www.reddit.com/r/Bitcoin/comments/1dyj70/update_coming_soon_a_private_fiat_bank_to_bitcoin/

Now can we please get to 117

Bid Sum is almost at all times high. Last time this happened we went to 160.

Have we left the racy moves behind and are now turtley going up, or will some tiny positive news ignite a rocket?

So May 11 came and went and nothing happened. I thought everyone was expecting fireworks.

Regarding the volume, is today the lowest since the April 10?

Common, isn't it only 5 people who have 100k coins and who on earth would just leave them on a laptop. You'd probably send them to a bank safe like the Wikilovers.

Good to see reptile is so creative with his attention whoring though.

I am slightly amazed. The news last night was fairly scary and the users online on reddit kept going up so panic was on the air, but the price has not even blinked. That seems to be because the best thing to do yesterday was to buy not sell because since they seized fiat, you want to convert the fiat to bitcoin.

However, in terms of pricing, the news calls for a correction.

Does that therefore mean that the selling has been delayed due to practical considerations and therefore a correction is due?

Anyone cares about this news:

Webmoney a Russian paypal like payment processor accepts bitcoins

http://blog.wmtransfer.com/en/blog/wmx-the-new-type-of-title-units#.UZiYqZFcj4s