Nights Watch by Afrikoin

[Afrikoin]

BTC following Wickoff stock analysis very closely!

[1714833746]

1714833746

[Gillette]

BTC following Wickoff stock analysis very closely!

The beast has resumed going up!

[Afrikoin]

Gold: Still Room To Run; Test Of $1400 Eyed

http://www.investing.com/analysis/weekend-39;s-chart---$gold-%28gold---spot-price%29-200133985

[Afrikoin]

""Okay guys. Here is the moment many of you have all been waiting for. I just exited my position. Clear the path to 680...

After trade fees and funding costs I cleared just a hair over $130k USD in profit from the trade. The position has been open (in part) since 3/3 for a total of ~92 days. I had about $11,200 in funding costs.

It took me about an hour and a half to clear the 1,350 BTC from my books, most of it (but about 300 or so) were market sells. The volume at 21:45 was partly (well, mostly...) me. Sorry for the sell pressure, folks. I was able to get completely out at an average price of $578.28. As my goal is accumulation of BTC, I then spent 10 minutes turning the $130,640 into 225.14 BTC (avg price after fees: $580.26). I had no want of speculating and holding on to the USD to see if BTC/USD fell. I was happy with my BTC profits and so I took it. Admittedly the price turned up after I finished selling so there was a little slippage on the USD->BTC front.

I am now the proud hodler of 554 total BTC. I'll be leaving 50 BTC in bitfinex for the occasional, low-leverage long, but the rest will be leaving, mainly to a keepkey. I still expect this to go to the mid 600's, It's just... those 90 some-odd days were rough, guys. That kind of exposure really puts a strain on your emotions and your normal day-to-day. For now, I won't be taking a margin position and will be checking the price much less frequently. I'll set some alarms... maybe at 500 maybe at 700... just so I can check in when the big moves happen. But I can't stare at charts on a screen anymore. I'm also closing on a 3/4 million dollar house in a few weeks, so this peace of mind (and the profits!) are fantastic immediately prior to moving across the country.

I'll be around for a few hours to answer some questions and feel free to PM me, but I hope to be spending a lot less time around here moving forward, at least for the immediate future. I need a few weeks - at a minimum - of good sleep, "no bitcoin", no reddit, no getting pissed, no being disappointed... I was happy with my profits and so I took them. No harm in that, but if you have a long It's not really a suggestion to sell. I just couldn't take the ups and downs any more and had enough on the line where I felt it was time to take some profits and re-evaluate. If bitcoin goes to $2k, $5k, $10k... still plenty of time to get back on the train. But for now, I need sanity.

Oh. I think I'm gonna turn that profit into a Porsche GT4. Yeahhhhhh.

Godspeed you lovely bastards. Yolo OUT."""

https://www.reddit.com/r/BitcoinMarkets/comments/4mlujc/daily_discussion_sunday_june_05_2016/d3wi83u

[Afrikoin]

Let's Talk Bitcoin! #295 Where Are We?

https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-295-where-are-we

[spazzdla]

I see a tea cup in the Chinese exchanges..

https://bitcoinwisdom.com/markets/btcchina/btccny

 May 9th to current.

[Afrikoin]

[Tzupy]

THE PUMP FOLLOWS. Massive pump this one. COuld take us to $850.Im happy.HOLD!!!


China Buying Sparks Bitcoin Surge

http://www.wsj.com/articles/china-buying-sparks-bitcoin-surge-1464608221

Paywall because of direct link. Google it to read. Copy paste of the article:

Chinese investors are pumping up bitcoin again, sending prices up nearly 16% in the past four days just two years after the country that was at the center of a boom and bust in the crypto-currency.

The four-day surge in bitcoin since Friday has added $1.2 billion in market capitalization for all bitcoin in circulation, according to data from blockchain.info. On Monday, prices moved up as high as $525.49 per bitcoin, though that’s still well below the all-time high of around $1,151 in November 2013.

ENLARGE Chinese bitcoin exchanges have been operating despite past efforts by Beijing to curb trading in the currency, which is not subject to any central authority and which can be traded almost instantly across borders.

Huobi and OKCoin, two Chinese exchanges, now collectively account for some 92% of global trading in bitcoin.

The surge in bitcoin buying this weekend could be the latest sign of how Chinese investors are moving money between asset classes quickly in search of high returns. In the past year, equities, bond and commodities markets in China have in turn seen massive surges of new investing, often followed by a collapse in prices as funds have moved elsewhere.

“There’s a lot of hot money in China that has to go somewhere,” says Du Jin, chief marketing officer at Huobi. Huobi has seen a surge of new registrants in the past one month, he said.

Expectations that new supply of the virtual currency will decrease next month could also be behind the latest price surge. The creation of bitcoin via a complicated computing process called “mining” gets more challenging over time, thanks to a mechanism which cuts the number of bitcoin that can be created in half every four years in order to limit supply.

ENLARGE But industry participants also say a number of China-specific factors are also in play.

Stories of scams in peer-to-peer financing have sent Chinese investors familiar with the most innovative forms of investing to bitcoin specifically, says Huobi’s Mr. Du.

The bitcoin network, composed of traders around the globe accessing virtual platforms via their computers and the Internet, also allows a discreet way for a Chinese to move money beyond the country’s tightly-controlled borders.

Bitcoin currently trades at a 7.2% premium when priced in Chinese yuan on mainland bitcoin exchanges compared to counterparts pricing the currency in U.S. dollars, according to industry tracker Bitcoinity.org.

ENLARGE This premium in Chinese prices has persisted throughout the year, suggesting that demand from the country has accounted for much of bitcoin’s recent gains, says Zennon Kapron, founder of financial technology consultancy Kapronasia and author of a book on bitcoin.

Investors are worried about the decreasing value of the yuan and “it seems that China is leading a lot of the movement,” he adds. “People are protecting their investments [by converting yuan into bitcoin].”

The is a count from which a top of 850$ very soon could have been guesstimated, but IMO it's overly optimistic.
So far the Chinese new fiat has topped, remains to be seen if more fresh Chinese fiat will enter. But the spike mobilized western bids, which are dumped upon.
New accounts mean IMO weak hands, they didn't buy to hold for months, there is some quick profit for them to make and most will realize that profit.

sentiment meter says we're due another leg up. I'll be honest, this looks like it could get to $850

Mainstream media is already hopping on board the halving supply band wagon.

I think you are concentrating too much on organics. Yet, this price rise is speculative due to halving, China etc.

The bid side on Huobi reached over 180 million CNY!
So IMO they just wait for a TA excuse to pump, with such large amount of fresh fiat 850$ becomes possible.

[pontikis13]

The bid side on Huobi reached over 180 million CNY!
So IMO they just wait for a TA excuse to pump, with such large amount of fresh fiat 850$ becomes possible.

Did the bear turn bull  !!!???

[Tzupy]

The bid side on Huobi reached over 180 million CNY!
So IMO they just wait for a TA excuse to pump, with such large amount of fresh fiat 850$ becomes possible.

Did the bear turn bull  !!!???

Never!!! But I can't ignore a fact. The normal behavior would be a correction, but with so much fresh fiat, I don't know...

[pontikis13]

I'm torn between waiting for a correction out of common sense and just letting the madness consume me and going long :p

[sickpig]

Top performing currencies in 2016 (vs. USD) 1. Bitcoin +27% 2. Gold +14% 3. Japanese Yen +10%

https://docs.google.com/spreadsheets/d/1TWKh5qfrvXywRV0jhTKjiK6LZTU8BkUbMhSvqqGeZ_8/pubhtml

didn't they forget to mention ethereum?

p.s. I really appreciate the effort you put in maintaining this thread. keep up the good work!

[Afrikoin]

Top performing currencies in 2016 (vs. USD) 1. Bitcoin +27% 2. Gold +14% 3. Japanese Yen +10%

https://docs.google.com/spreadsheets/d/1TWKh5qfrvXywRV0jhTKjiK6LZTU8BkUbMhSvqqGeZ_8/pubhtml

didn't they forget to mention ethereum?

p.s. I really appreciate the effort you put in maintaining this thread. keep up the good work!

Ahsante sana!

[Afrikoin]

90 Central Banks Seek Blockchain Answers at Federal Reserve Event

http://www.coindesk.com/central-banks-blockchain-federal-reserve/

Lol! How fast (slow) things change. Just like markets. 2 years ago would anyone have guessed this? 90 central bankers discussing the identity of Satoshi Nakamoto.

[sickpig]

Top performing currencies in 2016 (vs. USD) 1. Bitcoin +27% 2. Gold +14% 3. Japanese Yen +10%

https://docs.google.com/spreadsheets/d/1TWKh5qfrvXywRV0jhTKjiK6LZTU8BkUbMhSvqqGeZ_8/pubhtml

didn't they forget to mention ethereum?

p.s. I really appreciate the effort you put in maintaining this thread. keep up the good work!

Ahsante sana!

you're welcome

[Afrikoin]

Interesting paragraph here from this article. Makes me wonder if banks are hinting at Bitcoin. Could they be?

Exclusive: Commerzbank considers hoarding billions to avoid ECB charges - sources

http://www.reuters.com/article/us-commerzbank-ecb-idUSKCN0YU1HW




"Such a move is, however, not without costs, such as insurance against fire or theft. German insurer Ergo and other large European insurers say they have received an increasing number of inquiries from banks examining such a move.

It also imposes a logistical challenge that ultimately puts a ceiling on the amount of cash that can be stored. Storing 2 billion euros in 200 euro notes would result in a cash pile that weighed roughly 11 tonnes. "

[kehtolo]

90 Central Banks Seek Blockchain Answers at Federal Reserve Event

http://www.coindesk.com/central-banks-blockchain-federal-reserve/

Lol! How fast (slow) things change. Just like markets. 2 years ago would anyone have guessed this? 90 central bankers discussing the identity of Satoshi Nakamoto.

Yeah.. about that...

Here is an excellent article written on this very topic. I think it's well worth a read....

https://medium.com/@beautyon_/why-central-banks-will-fail-at-digital-currency-2a0f47e827cb#.e1zm11msn

Basically saying, Bitcoin was created to destroy central banks.. and that although they are now paying attention.. they still don't get it.
They still think they can harness it to use in their legacy systems..
They still think Blockchain - not bitcoin... and see the 'Blockchain Technology' as the ONLY good to come out of bitcoin.. actually seeing bitcoin as an alt-coin and just a side effect of Blockchain technology.. wow.. you couldn't make it up.

[Tzupy]

https://www.cryptocoinsnews.com/survey-uk-companies-buy-bitcoin-pay-off-ransomware-extortionists/

Bullish... At least until gubermints decide to ban bitcoin and other cryptos, in order to stop ransomware payments...

[kehtolo]

It would be cheaper just to implement robust IT security policy, and have their IT security people, you know, do their jobs properly.

Edit: "48% or nearly half of the companies surveyed are failing to back up their data at least once a day."

I read that and my jaw nearly dropped. These companies/people deserve to get scammed.

[btc4lifer]

Bullish... At least until gubermints decide to ban bitcoin and other cryptos, in order to stop ransomware payments...

gubermint ban would be the ultimate validation for cryptocurrency

price would move north faster than trump haters (yes, american joke)