Why is BTS suddenly shooting up?

[Tuck Fheman]

It went up because supposedly 2 banks started using the protocol, those were the rumors.

Its market cap went up a lot when they increased the supply, yes, but the price has also tripled recently (and then gone back down a bit). 
To claim that it has not gone up in price would be very wrong.

For the record, I never made any claims. I don't follow Ripple. I was aware of the increase in supply and a recent article elsewhere provided the image I used. I was not aware of a recent pump & dump (because I don't follow Ripple) and just assumed OP was referring to the price increase from the time of the supply increase. I was wrong.

[Ander]

It went up because supposedly 2 banks started using the protocol, those were the rumors.

Its market cap went up a lot when they increased the supply, yes, but the price has also tripled recently (and then gone back down a bit). 
To claim that it has not gone up in price would be very wrong.

[fran2k]

Probably due to the incoming BTS Play snapshot. And because we are hitting the bottom also.

[Tuck Fheman]

It went up because supposedly 2 banks started using the protocol, those were the rumors.

[btswildpig]

Ripple went up 300% for no reason .....

It went up because supposedly 2 banks started using the protocol, those were the rumors.

If you know technically analysis bitshares has made a 40% fibonacci retracement.  These developments need to be solidified into hard gains right now its "positive news" but if you go to bitsharesblocks charts page only 10 to 30 new accounts a day we need at least 300 a day at this stage for momentum to develop.

The rumor in China is "Japan go bankrupt , JPY is worthless , Japanese buy ripple like crazy".
LOL .....  What whale says when they want to pump ...

[eagleeye]

Ripple went up 300% for no reason .....

It went up because supposedly 2 banks started using the protocol, those were the rumors.

If you know technically analysis bitshares has made a 40% fibonacci retracement.  These developments need to be solidified into hard gains right now its "positive news" but if you go to bitsharesblocks charts page only 10 to 30 new accounts a day we need at least 300 a day at this stage for momentum to develop.

[mf-tzo]

Is it a good idea to sell now at 5100 and wait for lower prices to buy back in at? Is it too late at this point?

Do you know that my break even of investment in BTS is @40 mil market cap and I was following since November last year? I am pretty sure that few people may have a break even at $15-$20mil market cap or lower but these are very few people with amazing trading skills..

Current market cap was the market cap of BTS 1 year ago. Do you realise how many things have changed since then? BTS should have a market cap of more than $200 mil already  and with current developments should be $400 mil by H1 2015

Having said all that nothing tells me that BTS could not go to market cap $20 mil or lower but my honest predictions is 90% vs. 10% for $100 mil vs $20 mil market cap. So I am really surprised how people can be selling at these levels with big probabilities to lose all the upside.

[islandking]

Is it a good idea to sell now at 5100 and wait for lower prices to buy back in at? Is it too late at this point?

[mf-tzo]

I know..that is why it is gambling since you never know when a whale will pump

[btswildpig]

That's why I don't understand why we are not shooting up +300% already with the PLAY allocation in 8 days, sparkles snapshot in 14 days and all the other good stuff in coming up shortly...I thought that normal normal forex trading has no fundamentals anymore but crypto trading is like gambling all the time at this early stage since few whales can move any market however they want for no reason whatsoever...

Therefore PLAY will be huge!! Additional gambling to already gambling... :)

It's easy to pump low volume coins ... it's hard to pump big  volume coins ...

[mf-tzo]

That's why I don't understand why we are not shooting up +300% already with the PLAY allocation in 8 days, sparkles snapshot in 14 days and all the other good stuff in coming up shortly...I thought that normal normal forex trading has no fundamentals anymore but crypto trading is like gambling all the time at this early stage since few whales can move any market however they want for no reason whatsoever...

Therefore PLAY will be huge!! Additional gambling to already gambling... :)

[btswildpig]

Ripple went up 300% for no reason .....

[Overthetop]

Just one wave of speculation.

[islandking]

We went down a bit down to 5300. I actually just got some free BTS from selling and buying lower ;) I think I may wait this out and see what happens.

[donkeypong]

Let us be honest: Everybody is waiting for the right moment to beyond go all in.

They'll be Coming (Here) From Beyond when BTS heats up!

[Ander]

I won't rain on your superbull thread but it looks like a few buyers bought a lot over a short period with the purpose of spiking the price and that the volume has dissipated somewhat now. I bought yesterday before the rally but have sold some expecting some pullback.

Things are always quiet while China sleeps.  They wake up in an hour.

Of course, selling some on quick rises is almost always correct.  There is a good chance you'll buy back a bit lower soon, and have a bit more shares. 
I've done that a lot over the past months, and I've got tens of thousands of extra BTS because of it, trading just ~10% or so of my position.


I'm not doing it this time though, just because MAYBE this time the price just goes crazy.  Normally the chart doesnt really support the possibility of the price truly going crazy, but this time it actually does, so I am holding 100% here.

Good luck to all. :)

[Empirical1.1]

Yeah, I think BitShares is on the rise now in general, a lot of good things coming together, but this move was too much, too quick, unless there's a specific reason. At the same time there's a lot of people that divested some of their original position around merger time or before and they will buy back in and hold as we rise, so I expect it to keep some of the gains.

I actually dont think this move was too much, or too quick.  Actually I thought this was going to happen a few days ago, and I am surprsed that it took as long as it did.

I think we are going to rise dramatically and relentlessly now, and people are going to be SHOCKED by how hard and fast bitshares goes up.

Expect many comments from people who are missing out and are wondering why it won't pull back and let them in!  I hope that all of the true believers out there have a lot of BTS right now.

I won't rain on your superbull thread but it looks like a few buyers bought a lot over a short period with the purpose of spiking the price and that the volume has dissipated somewhat now. I bought yesterday before the rally but have sold some expecting some pullback.

My core BitShares position though won't change.

[CLains]

Let us be honest: Everybody is waiting for the right moment to beyond go all in.

[Mysto]

Is it worth it to sell out now and try to buy back in later?

If you don't know the answer to that question then I suggest you HODL!!!

[Empirical1.1]

Americans using chinese exchanges still wouldn't trade CNY.

I do unless it's illegal or something (in that case forget I said anything)  :P

I do too.

[islandking]

Is it worth it to sell out now and try to buy back in later?

[Mysto]

I think it's a pump and dump but I do think it will retain some of these gains with all this positive stuff happening.

[Mysto]

Americans using chinese exchanges still wouldn't trade CNY.

I do unless it's illegal or something (in that case forget I said anything)  :P

[zerosum]

Yeah, I think BitShares is on the rise now in general, a lot of good things coming together, but this move was too much, too quick, unless there's a specific reason. At the same time there's a lot of people that divested some of their original position around merger time or before and they will buy back in and hold as we rise, so I expect it to keep some of the gains.

I actually dont think this move was too much, or too quick.  Actually I thought this was going to happen a few days ago, and I am surprsed that it took as long as it did.

I think we are going to rise dramatically and relentlessly now, and people are going to be SHOCKED by how hard and fast bitshares goes up.

Expect many comments from people who are missing out and are wondering why it won't pull back and let them in!  I hope that all of the true believers out there have a lot of BTS right now.

I always seek your posts eagerly when I am somewhat in a blue mood.  :)
Hope you are right... as usual.

[Ander]

Yeah, I think BitShares is on the rise now in general, a lot of good things coming together, but this move was too much, too quick, unless there's a specific reason. At the same time there's a lot of people that divested some of their original position around merger time or before and they will buy back in and hold as we rise, so I expect it to keep some of the gains.

I actually dont think this move was too much, or too quick.  Actually I thought this was going to happen a few days ago, and I am surprsed that it took as long as it did.

I think we are going to rise dramatically and relentlessly now, and people are going to be SHOCKED by how hard and fast bitshares goes up.

Expect many comments from people who are missing out and are wondering why it won't pull back and let them in!  I hope that all of the true believers out there have a lot of BTS right now.

[toast]

Americans using chinese exchanges still wouldn't trade CNY.

[luckybit]

I think it's undervalued in any case, but what changed now?

It's a pump and dump. There is no logical reason for money to come in that quickly so you can expect it to fall out just as quickly.

It's also the holiday season and it's very possible that people want to pump and dump to shake weak hands so they can use the money to buy Christmas gifts. I don't trust the markets at these times as the incentives and timing seem to suggest pump and dump activity.

It's nearly all Chinese volume. Payday usually comes at the end of the month there. Buyers are guessing they have one or two more chances to get in before this thing goes up. I have no way of knowing for sure, but that would be my #1 guess.

Could be the Chinese or it could be Americans using the Chinese exchanges. If it's the Chinese it doesn't make any sense why we'd see a huge price movement but maybe people from China can clue us in?

[donkeypong]

It's nearly all Chinese volume. Payday usually comes at the end of the month there. Buyers are guessing they have one or two more chances to get in before this thing goes up. I have no way of knowing for sure, but that would be my #1 guess.

[Empirical1.1]

I think it's undervalued in any case, but what changed now?

If BTS were any other coin ... I'd say this is a pump & dump that will settle back to 4700 or so very soon.

Yeah, I think BitShares is on the rise now in general, a lot of good things coming together, but this move was too much, too quick, unless there's a specific reason. At the same time there's a lot of people that divested some of their original position around merger time or before and they will buy back in and hold as we rise, so I expect it to keep some of the gains.

[Tuck Fheman]

I think it's undervalued in any case, but what changed now?

If BTS were any other coin ... I'd say this is a pump & dump that will settle back to 4700 or so very soon.

[mike623317]

lots of positive developments have been happening.

- Online wallet starting to be developed by Shentist.
- MeTHoDx doing a large marketing effort
- Bitshares.org has a new website which rocks.


Now I hear there is a shopping cart plugin.

Now i love that idea. I didnt know about that.

[islandking]

BTS just past 1M in 24-hour volume on coinmarketcap.com!

That is really great news. Hopefully we can sustain that.

[blahblah7up]

BTS just past 1M in 24-hour volume on coinmarketcap.com!

[Troglodactyl]

lots of positive developments have been happening.

- Online wallet starting to be developed by Shentist.
- MeTHoDx doing a large marketing effort
- Bitshares.org has a new website which rocks.


Now I hear there is a shopping cart plugin.

.   +5% +5% +5%. Something wicked this way come...

+5% A lot positives building up momentum towards the main push.

https://bitsharestalk.org/index.php?topic=11570.msg155757#msg155757

I managed to add to my position before this nice move. It is a big move though and Counterparty is trending down, so the thought crossed my mind that Overstock could switch to BitShares but that's maybe a little too optimistic.

I've been wondering about CounterParty.  The last few days have certainly looked bad for them, but it could just be all the people who panic bought with the Overstock announcement getting bored and wandering off.  I do think BitShares would be a better base for Overstock than CP, so it would be nice if they figured that out before they sink too much development time.

[Empirical1.1]

lots of positive developments have been happening.

- Online wallet starting to be developed by Shentist.
- MeTHoDx doing a large marketing effort
- Bitshares.org has a new website which rocks.


Now I hear there is a shopping cart plugin.

.   +5% +5% +5%. Something wicked this way come...

+5% A lot positives building up momentum towards the main push.

https://bitsharestalk.org/index.php?topic=11570.msg155757#msg155757

I managed to add to my position before this nice move. It is a big move though and Counterparty is trending down, so the thought crossed my mind that Overstock could switch to BitShares but that's maybe a little too optimistic.

[unimercio]

lots of positive developments have been happening.

- Online wallet starting to be developed by Shentist.
- MeTHoDx doing a large marketing effort
- Bitshares.org has a new website which rocks.


Now I hear there is a shopping cart plugin.

.   +5% +5% +5%. Something wicked this way come...

[eagleeye]

lots of positive developments have been happening.

- Online wallet starting to be developed by Shentist.
- MeTHoDx doing a large marketing effort
- Bitshares.org has a new website which rocks.


Now I hear there is a shopping cart plugin.

[blahblah7up]

The guy who has been dumping BitShares on BTC38 in blocks of a million for the last three weeks ran out a day or two ago.

Maybe, but the volume's also way up.  It might cross 1M for 24 hour volume soon.  It's already over 900k.  That hasn't happened in a while.

Regardless of the error noted on coinmarketcap.com regarding volume the last couple days, volume was much lower.

[Markus]

The guy who has been dumping BitShares on BTC38 in blocks of a million for the last three weeks ran out a day or two ago.

[matt608]

It could be related to this:
http://www.reddit.com/r/CryptoCurrency/comments/2nouij/make_2500_a_month_being_one_of_the_first_persons/
Written by me
(edited by MeTHoDx)

[blahblah7up]

I think it's undervalued in any case, but what changed now?