Dan C
Honorary Master
Luno will stop it at 299.99k ... trust me
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The Bitcoin Thread
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Jet-Fighter7700
Honorary Master
No, it will pick up and down around 300k mark, everytime it's about to break a record, something on the back end kicks in.
JerryMungo
Honorary Master
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Bwahahaha
400k by Friday!! Hodl...
SaiyanZ
Executive Member
All of a sudden a lot of people want to sell. I don't see anything happening on international exchanges. A real headscratcher.
Edit: Looks like it's just a few people panic selling. Should bounce back fast once they're done.
Edit: Looks like it's just a few people panic selling. Should bounce back fast once they're done.
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I think our ZAR/BTC price was a bit inflated ( about 4-5% form normal), but yeah, I still scratch my head.
Quick....everyone HODL
Price was just seriously bloated, no reason for it to be that high, was at R40k'ish($22.5k according to coinmarket) above usd price on luno just now, and people still buying and buying and buying, ****ing madness
SaiyanZ
Executive Member
I think our ZAR/BTC price was a bit inflated ( about 4-5% form normal), but yeah, I still scratch my head.
Quick....everyone HODL
It was inflated when we were above R295k. Not anymore. USD exchanges look quite steady.
I think it's a factor of high Luno fees and the time of day. There's not enough instant buyers around now compared to the morning and nobody wants to buy with fees. So a few people panic selling large amounts can push the price down fast because there's very few buyers to stem the tide.
Still way to high, even with our 'premium', needs to come down to R280k'ish... even at 280, still a 20k 'premium'
SaiyanZ
Executive Member
The "premium" is the same or lower than it's been for the last month.
the 20k yes, about right... not the 40k, roughly 280k should be our price now, this 295k+ is just insane
could be worse, could be ice's 300k
SaiyanZ
Executive Member
the 20k yes, about right... not the 40k, roughly 280k should be our price now, this 295k+ is just insane
could be worse, could be ice's 300k
The percentage normally stays similar. Around 10% to 15% premium. The price has almost doubled since last week so it just looks like a lot more in rand terms.
Agreed. I have once seen it up to 20% but mostly it sits 10-15%....then it goes back to around 10%. Its back at 15% now though .
SaiyanZ
Executive Member
Bitfinex soaring now. Just broke $19k for the first time.
Indeed, 10-15% is about right, but you haven't taken into account that I've been working on 10-15% total of around 200k(ie, I see $18.5k and say yeah, R260k'ish, R280k on luno is about right) which you haven't adjusted for, therefore, I'm correct on this as of last week
SaiyanZ
Executive Member
I wonder what will happen when it hits $20k. I have a feeling that something crazy is going to happen. Like a sharp drop/rise to $15k/$25k.
Sensorei
Executive Member
I agree. BTC has seen quite a few 30% drops. It will hurt a lot more now that it has become so valuable. It's been growing too fast because of the expectations surrounding the futures trading. The best thing to prepare ourselves is to follow trading experts who are familiar with trading in new gound breaking tech, so we can get out when we need to and not get too caught up in the hype. I think it might hit closer to $25K before things go ape****.
Any guys specific you can advise to follow?
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