Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[darklight]

Coincidence that this all happens on the weekend rpietila is having his mansion party?

I said it hours ago, he posted on his thread and sounded very, very cocky. I'm pretty sure it's his group doing this.

You give this guy waaaay too much credit.

Uh, I don't like him, there's no many people who called him names more than I did. To be honest I think he is twat, one of those I can't stand. But I do think he managed to incorporate himself in the group of some wealthy Bitcoiners like Goat and company, and they are very able to move the market.

The whole thing was orchestrated in a way that shows whoever did it understands the market pretty well. They know people are wary of fake bid walls, so they made sure their walls got eaten. They know people expect these brief pumps to be short lived, so they've made sure a new wall appears every few hours. They know people don't want to get left behind, so they were keeping their walls low enough that bids would pile in front of them, but moving them up when things were slowing down. By the time the third wall showed up it hardly had to do anything. They also know a lot of people are (or were) shorting, many of whom have probably been squeezed out. Probably the most telling thing is that no bigger whales came along to take a dump on the buildup, which would imply that the people capable of doing so weren't inclined to take what would have been a lot of profit. Why do think this might be, unless many of them are working together on this?

They've got things right where they want it now. Lots of people who were bearish will have bought back in, and everyone is scared to dump in case another wall comes along in a few hours.

But this is all just speculation right?

This buy in would have been more profitable if it would be spread out in a week or two. Whoever did/is doing this buying, doesn't care much. It seems that a certain number was agreed upon and now the plan just needs some quick filling. There were several pumps like these during the China boom. Without these pumps, BTC is no fun..

Yes its plausible, but I'm still not so sure. I don't think they wanted it to be optimally profitable necessarily, just very public. It seems like a PR exercise right after weeks of bad news. Assuming the whales already have some BTC, they will be watching the bear market carrying on with no end in sight. By doing this they haven't got the best price for their new BTC, but they have raised the price of their existing coins by a fair bit. If someone had that much to spend on BTC as a private investor, surely there are better channels for doing so than on a public exchange

[1714757614]

1714757614

[tarmi]

correction incoming.

[PoolMinor]

Yes, Buffet said some nonsense today and the buyer panicked and put his first wall up yesterday...  

Buffet went on to point out that bitcoin is being priced off the dollar and that it is simply not a durable means of exchange.

How do they buy stocks, are they not priced "off the dollar"?

stocks arent means of exchanges. you dont pretend to buy your beer with stocks...

He is trying to say that the exchange of a BTC should not be traded against the dollar because the dollar fluctuates. Yet it is OK to invest that paper into a stock instead?

Edit:
From article.
“American businesses are going to be worth more money. Dollars will be worth less, so that money won’t buy you quite as much, but you’ll be much better off owning productive assets over the next 50 years than you will be holding pieces of paper..."

Don't hold paper he says.

[explorer]

What is the best candle chart out there right now aside from BitcoinWisdom (which won't load for me these days)?
bitcoinity is frustrating the hell out of me.

[Dragonkiller]

Yes, Buffet said some nonsense today and the buyer panicked and put his first wall up yesterday...  

Buffet went on to point out that bitcoin is being priced off the dollar and that it is simply not a durable means of exchange.

How do they buy stocks, are they not priced "off the dollar"?

stocks arent means of exchanges. you dont pretend to buy your beer with stocks...

He is trying to say that the exchange of a BTC should not be traded against the dollar because the dollar fluctuates. Yet it is OK to invest that paper into a stock instead?

Some of his biggest holdings are in AmEx, Mastercard etc. Take what he says (about anything) with a grain of salt.

[hdbuck]

Coincidence that this all happens on the weekend rpietila is having his mansion party?

I said it hours ago, he posted on his thread and sounded very, very cocky. I'm pretty sure it's his group doing this.

You give this guy waaaay too much credit.

Uh, I don't like him, there's no many people who called him names more than I did. To be honest I think he is twat, one of those I can't stand. But I do think he managed to incorporate himself in the group of some wealthy Bitcoiners like Goat and company, and they are very able to move the market.

The whole thing was orchestrated in a way that shows whoever did it understands the market pretty well. They know people are wary of fake bid walls, so they made sure their walls got eaten. They know people expect these brief pumps to be short lived, so they've made sure a new wall appears every few hours. They know people don't want to get left behind, so they were keeping their walls low enough that bids would pile in front of them, but moving them up when things were slowing down. By the time the third wall showed up it hardly had to do anything. They also know a lot of people are (or were) shorting, many of whom have probably been squeezed out. Probably the most telling thing is that no bigger whales came along to take a dump on the buildup, which would imply that the people capable of doing so weren't inclined to take what would have been a lot of profit. Why do think this might be, unless many of them are working together on this?

They've got things right where they want it now. Lots of people who were bearish will have bought back in, and everyone is scared to dump in case another wall comes along in a few hours.

But this is all just speculation right?

This buy in would have been more profitable if it would be spread out in a week or two. Whoever did/is doing this buying, doesn't care much. It seems that a certain number was agreed upon and now the plan just needs some quick filling. There were several pumps like these during the China boom. Without these pumps, BTC is no fun..

Yes its plausible, but I'm still not so sure. I don't think they wanted it to be optimally profitable necessarily, just very public. Assuming the whales already have some BTC, they will be watching the bear market carrying on with no end in sight. By doing this they haven't got the best price for their new BTC, but they have raised the price of their existing coins by a fair bit. If someone had that much to spend on BTC as a private investor, surely there are better channels for doing so than on a public exchange

 imo its not a "new" investor but a early adopter that just wanted to mess around with the market. i guess they sometime enjoy their "god" status over Bitcoin and screw with us even more.

edit: new investors with that amount of cash would find other ways to step in.

[fonzie]

Bitstamp >60$ above Huobi , lolol
This is about to crash hard.

[Dragonkiller]

china is asleep, you dumb fuck

[Patel]

Bitstamp >60$ above Huobi , lolol
This is about to crash hard.

fonzie, your time is up, time to hibernate until after the next bubble when we capitulate again

[TERA]

My calculations were messed up because of the differences of bitstamp and huobi.  huobi perfectly met the 3 day ema as resistance as i had projected but bitstamp went way above its 3 day ema.

[empowering]

[dreamspark]

Some very naughty candle porn after the last few hours events 

[kkaspar]

Coincidence that this all happens on the weekend rpietila is having his mansion party?

I said it hours ago, he posted on his thread and sounded very, very cocky. I'm pretty sure it's his group doing this.

You give this guy waaaay too much credit.

Uh, I don't like him, there's no many people who called him names more than I did. To be honest I think he is twat, one of those I can't stand. But I do think he managed to incorporate himself in the group of some wealthy Bitcoiners like Goat and company, and they are very able to move the market.

The whole thing was orchestrated in a way that shows whoever did it understands the market pretty well. They know people are wary of fake bid walls, so they made sure their walls got eaten. They know people expect these brief pumps to be short lived, so they've made sure a new wall appears every few hours. They know people don't want to get left behind, so they were keeping their walls low enough that bids would pile in front of them, but moving them up when things were slowing down. By the time the third wall showed up it hardly had to do anything. They also know a lot of people are (or were) shorting, many of whom have probably been squeezed out. Probably the most telling thing is that no bigger whales came along to take a dump on the buildup, which would imply that the people capable of doing so weren't inclined to take what would have been a lot of profit. Why do think this might be, unless many of them are working together on this?

They've got things right where they want it now. Lots of people who were bearish will have bought back in, and everyone is scared to dump in case another wall comes along in a few hours.

But this is all just speculation right?

This buy in would have been more profitable if it would be spread out in a week or two. Whoever did/is doing this buying, doesn't care much. It seems that a certain number was agreed upon and now the plan just needs some quick filling. There were several pumps like these during the China boom. Without these pumps, BTC is no fun..

Yes its plausible, but I'm still not so sure. I don't think they wanted it to be optimally profitable necessarily, just very public. It seems like a PR exercise right after weeks of bad news. Assuming the whales already have some BTC, they will be watching the bear market carrying on with no end in sight. By doing this they haven't got the best price for their new BTC, but they have raised the price of their existing coins by a fair bit. If someone had that much to spend on BTC as a private investor, surely there are better channels for doing so than on a public exchange

I thought the same thing myself at first, that maybe someone is just trying to stimulate the market and to raise the price to demonstrate that MtGox hasn't damaged BTC and all is well. But a slower rise would have made a lot more sense when you want to promote the strength of bitcoin. Quick rises like that are unstable and raise suspicion on market manipulation, so that wouldn't be a good PR trick. There is a chance that this "PR trick" was orchestrated by one of the "bitcoin millionaires" who isn't very smart in the general sense. But I'm leaning more towards some outside investor group doing a little gambling with copying Fortress.

[MAbtc]

What is the best candle chart out there right now aside from BitcoinWisdom (which won't load for me these days)?
bitcoinity is frustrating the hell out of me.

When Wisdom is down, I have to depend on TradingView, which has its shortcomings. Bitcoinity is unbearable and does nothing for me.

[seleme]

When media writes about Bitcoin going up 20% in a day, the PR is done. Average Joe doesn't have idea if it is manipulation or not, greed hits him before that thought.

[Dragonkiller]

My calculations were messed up because of the differences of bitstamp and huobi.  huobi perfectly met the 3 day ema as resistance as i had projected but bitstamp went way above its 3 day ema.

lol okay

[dreamspark]

How long until we see some arb from china ??

[philip2000uk]

I'm still holding since September lol

[JorgeStolfi]

china is asleep, you dumb fuck

It is 3:30 am but this time Huobi's traders are not asleep at all.  They may trade more in this hour than in all of yesterday.

Meanwhile it seems that, for the last hour, Bitcoinwisdom has no data from Bitstamp other than the price.  Is there a chart site that is still working on them?

[btcticker]

What is the best candle chart out there right now aside from BitcoinWisdom (which won't load for me these days)?
bitcoinity is frustrating the hell out of me.

How about http://bitcointicker.co ?