Bitcoin Trading Patterns

[walalaaa]

A lot of you have probably heard of "Bitcoin". I actually have very little knowledge/experience about trading but I'm just curious for some opinions/insights on the particular way in which the bitcoin market is moving.

2 months ago the price of 1 Bitcoin was ~$150 and now it is trading at over $800.

Here's a chart and here's a live feed.

 

[kailahopkins]

That exchange rate is actually normal; yesterday BTC may skyrocket high and tomorrow could be lower than you expected. Due to the fall of Indian Rupee (INR) value for almost 24%, Bitcoin is seen as a potential utility to strengthen the monetary system.

 

[sportbilly]

.....the question!? Can actually market like BitCoin market been approached in similar way (technical analysis, fundamental analysis) than old-fashioned (physical money) FX markets. Bear in mind that BitCoin market much easier to move by potential huge speculator and value of it not backed up by central bank intervention. Can actually someone talk about patterns on BitMarket yet if we consider that market relatively new. Thanks 4 reply!!

Rgs SB

 

[activecommodity]

Bitcoin is not like gold or some forex pair which you could rely on charts and all
and for analysis it has very few data since this thing just has started moving wild .

Better stay away from technical thing if you are trading in bitcoin

 

[Pat494]

(Reuters) - A massive cyber attack from unknown sources that has been spamming bitcoin exchanges is highlighting some of the dangers people can encounter when they exchange cash for digital currencies like the bitcoin, experts said on Wednesday.

The attack, which is technically known as a distributed denial of service attack, involved thousands of phantom transactions, forcing at least three of the online platforms that store bitcoins and trade them for traditional currencies to halt withdrawals of bitcoins until they can determine which transactions were real.

-----------------------------------------------------------------------------------------------------------------------------------
The brave are helping iron out the bugs of bitcoin

 

[BSD]

Yeah, need to be plenty brave !

I mean, imagine losing this lot:

http://www.businessweek.com/articles/2013-04-10/meet-the-bitcoin-millionaires