Bitcoin Price Thread

Surprise said:
4. Current holders and buyers are in it to sell it , the public , the average Joe who just joined the hype , they bought it to sell it . BTC is under huge selling pressure .
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Yeah It must be that selling pressure is causing the new highs ;) LOL
 
Pekelo said:
I think the 3 most important effects on BTC's price currently:

1. Constant selling pressure from miners. That is at least 1000 extra coins every day (assuming they sell half right away) looking for new money, that is an extra 17 mill bucks needed, again, every day...

2. Institutions now can invest in Bitcoin via futures (not to mention cheaper), thus they don't have to buy it outright. Extra demand is much less than before.

3. The Bulgarian and Japanese governments unloading tens of 1000s of coins.
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The actual price movement (up) should tell you your wrong.

Price up means demand > supply
 
Jakobsberg said:
The actual price movement (up) should tell you your wrong.
Price up means demand > supply
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The last 3 days were pretty quiet, after the introduction of the futures. Let's wait when the CME futures come into the picture too and evaluate the price movement then.
 
Pekelo said:
The last 3 days were pretty quiet, after the introduction of the futures. Let's wait when the CME futures come into the picture too and evaluate the price movement then.
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You may be right in the future but you said 'currently'. New highs today almost 18,000 on my chart so hardly selling pressure.
 
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Covertibility said:
Two Don'ts regarding money and currency:
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1. Never account for the power of dollar without accounting for technological advantages.
2. See the above rule again.

How much did the first telephone cost when it was invented? Today in the Dollar store you can have one for $6, or 30 minutes minimal salary for the working man.

"The price for a long distance call was $9 for the first five minutes."

That is 1892 dollars for you. So instead of the purchasing power of a currency, why don't we look at a family of 4, living now and then doing the same jobs? How long an average worker had to work to buy a suit? What is the same working time today? My bet is it is less. (even if it is the same that just underlines my point)

Even if I were poor, I would prefer to live in the now, weak dollar or not. :)

"In 1910, the average annual per capita income in the US was estimated at $332, or about $7,800 in current-day dollars. "
"'In 1915, a dozen eggs cost 34 cents; a gallon of milk cost 18 cents; and a pound of coffee cost 30 cents."

So in today's dollars, eggs' cost was 7 bucks, milk's $3.6 (the same as now). I guess we have more chicken now?

https://www.theatlantic.com/business/archive/2016/02/america-in-1915/462360/

" Food was not only less varied in 1915, but also considerably more expensive. The typical American spent one-third of his income on food 100 years ago, which is twice today’s share."

So who wants to get into Elon Musk's time machine and go back to 1915???
 
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So a week of CBOE futures trading is nearly complete (with CME right around the corner) and what do you know ... the sky is still up above us.

And what is also known is extreme volatility has dropped. As anyone with a clue would expect.

Next margins will go down over time and volume up.

Cyber-currency luddites can come out now.
 
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