The move has been stunted for the night. capped by 610, I think we will test the 500 level again. this little bull run was too steep.
I actually did sell some, hard to believe it has steam to raise above 600 now. The train is not leaving anybody, but the tide has turned. 500 here we come!
Any theories on why such a crazy bounce occurred? There are no 55% surges out of capitulation in the history of bitcoin. And look at the stamp order book. Wow!
complete Chinese market manipulation, i've been observing the chinese volumes and comparing it to the patterns we see now and we've seen in the past 2 months, very unnatural movements. I also explained it here:
https://bitcointalk.org/index.php?topic=488485.0my level of respect of rpietila really increased today, i'm glad he's a true realist rather than just going "to the moon" like everyone else is.