WTF's going on with the bitcoin price??

[lurk@l0t]

why the sudden rise??

as far as i can tell there is no news at all from Gox. If anything this should be bearish, or at least have kept prices down.

What's the cause of this latest ridiculous rise and is it sustainable or will it simply drop back down tomorrow back to around $550 when Gox releases no more news?

 

[trew]

since when is the bitcoin price connected to any news, good or bad ?

 

[dozerz]

fiat clearing on exchanges including 10k coins bought on bitstamp in past 12 hrs.

 

[Load of Bullion]

since when is the bitcoin price connected to any news, good or bad ?

If you have to ask the question, the answer is probably 'Never' nonetheless, here are but a few examples that may indicate some connection.

MtGox tracks lower than the other exchanges. MtGox is the centre of the latest news attention and drama.
People even resort to protesting outside the Mt Gox premises in Japan.

I've kicked myself a few times for missing trading opportunities,
and for not keeping up with news, during my intense weeks of trading especially in Dec 2013... but hey..I'm probably deluded even though the moves seemed obvious.
For those whom have been in the game longer than I, this is something like the 5th time MtGox has provided considerable market drama.
MtGox is currently not fulfilling orders to withdraw cash or bitcoins. This might have something to do with the notable drop in bitcoin price on the Mt Gox exchange compared to the other exchanges.butmaybe the charts said it all days,weeks or months ago, and it has nothing to do with the drop.
There were rumours that MtGox has been fulfilling outgoing transactions over the last day or so.this may account for something, but I'm currently not keeping a close enough eye on the drama.
Busy with other things.

 

[trew]

since when is the bitcoin price connected to any news, good or bad ?

If you have to ask the question, the answer is probably 'Never'

I wasn't asking a question just making an observation


What 'news' made bitcoin to go from $100 to $1000 late last year ?

 

[Load of Bullion]

I wasn't asking a question just making an observation

Do the charts suggest that bitcoin reacts to news to you or not?

What 'news' made bitcoin to go from $100 to $1000 late last year ?

Baidu's acceptance seemed to provide the tipping point. There was also a positive US senate inquiry during the run up in late Nov 2013.
But the bull run is understood to be mainly fuelled by the Chinese. BTCChina CEO Bobby Lee also speaks of other factors such as the Chinese penchant for speculation being unleashed also.
***Baidu's exit out is pointed out on the chart above also.***

Article: http://www.leaprate.com/forex-indus...ces-soar-again-driven-by-baidu-and-china.html

 

[trew]

I wasn't asking a question just making an observation

Do the charts suggest that bitcoin reacts to news to you or not?

No not really. Reactions to news are obviously there but only short lived.
'FBI shuts down silk road' dropped the price for a few days but then it continued going up.

"Chinese Speculation within bull run" isn't even news - it's just saying where the buying was coming from.


You could probably get the same charts and overlay news about Justin Bieber and find some sort of correlation.

 

[Load of Bullion]

"Chinese Speculation within bull run" isn't even news - it's just saying where the buying was coming from.

Very obviously!. That wording on the chart was never meant to be news. Context: I did not originally put the information on the chart for this particular thread.

You could probably get the same charts and overlay news about Justin Bieber and find some sort of correlation.

Y & N. How do you expect the market to react?. I should check out what Bieber was up to when the Cypriots were denied access to their monies held by banks.