Waiting on a large wire. Will clear in 7 hours.... Missed the boat on this. Still have btc but wish I had more.

I've been away from my computer for a couple hours. What is going on? Is it safe to get some sleep tonight?

I think any of the big dumps in the past few days on the exchanges would have caused a panic sell like April if there was not enough support for the price.  We are at the base of an S-curve.  Everyone should be studying exponential growth to get an idea of where we are headed and to get an understanding of why it is increasing so fast.  The more people that find out about Bitcoin the faster the price will rise.  It is common with any new technology adoption.  If we think this is crazy, next year will be even crazier I believe.  Sure, there will be a few bumps in the road here and there but we will never see anything below $100 again at this point.  I would even venture to say that now that we have "stabilized" a bit here in the $400 range for a few days that the $200s are gone for the most part.  Maybe there will be a day when it dips down for a few minutes but those coins will be bought so fast that it will be hard to catch them.  Just my thoughts.

Even BTC-e has overtaken Stamp btw.

We need our animated gifs back. This forum is just not the same without them.

Humans are a strange sort.

Barely buying all the way up to $1000. Then plowing through a 2500 wall in minutes once they are there. WTF?

Watch out - order books are just about the most unrealiable indicator known to man for guaging demand.

Here's how they work:

[1] - if the market thinks the price is going to rise (doesn't have to be bullish sentiment, just expecting a rise)

Then the bids will thin out and the asks will thicken. This is because real demand goes off-order-book since nobody wants to push the price up more than they have to by placing orders so buyers stay hidden since they are not confident of having their orders filled below the spread gap.

Meanwhile, sellers DO place their orders at a measured distance above the spread gap so that they catch any spikes which lets them instantly cycle back into the market minutes later having accumulated at the back end of the spike.

[2] - if the market thinks the price is going to fall

Then exactly the opposite happens. The bids fill up and the asks thin out because fear has set in and sellers are nervous of placing orders that chase away precious liquidity, so sellers stay off-order-book this time. Meanwhile, large bids get placed a reasonable distance below the spread gap to catch any major dumps. Those large bids are not from people wanting to buy into the market (i.e. they are not genuine demand). They are "quick buck" operators who will immediately sell into the rise that follows the spikey plunge.

If the order book is balance, then the market is neutral in terms of expectation.

You can see this in realtime on Huobi in Bitcoinwisdom. As soon as the slightest small bull rally takes off, massive asks get instantly placed at intervals above the price, even though the price is rising. Then they get pulled just as the price approaches when there's no longer enough of a spread gap to turn the trade around and get back in with an accumulation.

So don't think for a minute that because there's a lot of bids that means there's a lot of demand or because there's a lot if asks there's a lot of bears. It's more likely that the exact opposite applies.