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

[JayJuanGee]

Would be 600 USD next week (5-10 days) and more than 700 USD after http://bitcoinexpo.ca/ finished and stabilized in 700-750 until May. IF http://www.globalbtcsummit.com/en/ go smooth, June/July would be new highest price of all time...

Sorry no evidences, just a hunch...

That's reasonable!!!  And, I love specific predictions, especially when I agree more or less with them.

By the way, there are NO real quantity of big name speakers in that BTC "global" conference set up.

[JayJuanGee]

Great news everyone! Bitcoin NOT banned in China!

BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban

hmmm....

interesting.

Are these quotes confirmed?   

[Ivanhoe]

Where is the ask side ? Lol ,18k btc to 400 and 18k btc to 1000.

[fonzie]

Buy the rumour, sell the news doesn´t work this time!

"Most of the people still don´t get it. It´s not about the news that will push the market downwards, it´s about the chinese money that will leave the market in a few days."  Fonzie - Bitcointalk prophet

[billyjoeallen]

When Mt Gox was dying, the market slid for months. When they stopped accepting deposits (for the last time), the market crashed to $400 and immediately rebounded to $710.
The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.  

Markets hate uncertainty more than they hate bad news. Bad news can be priced in. Uncertainty by it's very nature cannot.  What is certain is that when and if a final confirmation from the PBoC comes out or Chinese exchanges stop accepting deposits, the China Syndrome will be behind us and other factors will dominate price action.


The time to buy is when things are at their worst, when things can't get any worse. The irony is that Wall Street money will likely not come in until after we sell. If we never sell, it could take them months, years or eternity. Wall street doesn't want to share our success. They want to take our success from us. They're not angels. They are vultures. The only way to keep them out is to bootstrap another rally without them, have them buy in and we slowly and methodically take profits on the way up.  It would require a level of support at least twice as high as what's on our current order books.

The two external possibilities that can save us are an official denial by the PBoC of an imminent bitcoin ban or a influx of billionaire whale money. Both are very possible but unlikely.  As a community, the way we can save ourselves is for The Bottom to be defended on very high volume. Next dip below $550, buy like crazy and don't sell till you see $100 profit. That dip will come unless a whale intervenes. There will be no organic rally without another defense of the bottom.

Disclosure: I'm not talking my book here. I'm trapped in a leveraged long position and resigned to either sell at a profit or get wiped out in a margin call. I got screwed because I thought the PBoC would either confirm or deny the rumor by now. They claim to be concerned for the welfare of speculators and consumers and then keep us in the dark. I guess that's what we should expect from banksters.

Your attempt at concerted action is like herding cats..... I admire it, but really, I doubt you are gonna get people to engage in some mass buying campaign... b/c each of us is in a different position.. and maybe we do NOT have enough capital to buy, buy, buy.... I know the other strategy is to hodl and don't play the selling game..,..,. and that could cause prices to rise with smaller volume and cause a whale to come in that does NOT want to lose out on the upward momentum.....

You are correct about the intense bitterness that wallstreet likely has in regard to bitcoin investors and they are likely very reluctant to empower the "undeserving" early bitcoin adopters to make any high level(s) of profit.

I'm more of a weatherman than a rainmaker. I'm just saying that if we don't defend support and we don't get bailed out by a whale or two, then the bottom will not hold. People will do what's in their perceived best interest. OTOH, whales do exist and they could either defend the bottom with us minnows or negate the need for a defense at all. As always, the upside potential of bitcoin is greater than the downside risk. Just don't go leveraged long right now. I got that part covered.

[PoolMinor]

Great news everyone! Bitcoin NOT banned in China!

BREAKING NEWS: Bobby Lee Confirms Bitcoin China Ban

hmmm....

interesting.

In case you missed it.

http://youtu.be/2M12zzwNkCo?t=38m14s

[surfer43]

OK, so how did the Chinese read the Coindesk article?

Source: Coindesk article (http://www.coindesk.com/ceo-bitcoin-officially-bans-china/), translated to Chinese and back to English by Google Translate:

CEO of China official ban Bitcoin

Following China 's plans to ban bank transfer rumors to Bitcoin exchange , CEO bitcoin ™ has decided to ban Chinese .

The decision was adopted unanimously by the shareholders of Bitcoin , about Bitcoin Board , HaCkerz4BITZ and Bitcoin 's steering committee.

April 8 , Bitcoin and from the glory of the People's Republic of China will no longer be supported by the Bitcoin network ™ . The decision will not affect China 's Republic of China ( Taiwan ) - unless it is aggression simultaneously. It is unclear whether it will apply to Hong Kong , which is a little part of China, but in reality it is not - you know what?

Preemptive ruling People's Bank of China

The decision was announced by the bitcoin am CEO Warren Winkleberg ™ by reddit (Tuesday ) . It is composed of the following members of the Bitcoin community , China 's exchanges and Dorian S in the own extensive discussion.

Although there are some dissenting voices, they were drowned in a lengthy discussion , thanks to Godwin 's law - and therefore decisions are consistent.

As a result , Bitcoin company ™ decision to China 's official People's Bank of China (PBOC) notice is expected to effectively prohibit banks from doing business Bitcoin exchanges in China, which happens to be the first to be announced fully -owned subsidiary of Bitcoin the company ™

Warren Winkleberg said:

"Given China's imminent decision to ban Bitcoin exchanges, we have no choice but to completely ban China , we know that this decision will affect the long-term price of Bitcoin and proliferation , but frankly , we have no choice . "

"We have to act in the best interests of our shareholders and global bitcoin ™ investors , " he added .

Reaction , rebound, anti- backlash reaction

Internet ™ 's KalEl Al - Al Gore 's chief executive officer told CoinDesk, although this decision is controversial, in the grand scheme of things , this will help in the Bitcoin community as a whole and the Internet ™ . He added:

" China 's Great Firewall has hindered the development , erode our profits over the years here, in the internet ™, we know that certain circles , restrictive policies advocated by the Chinese government may adopt a new growth and the devastating impact of technology and I should know, I invented the Internet ™. "

"In addition, carbon dioxide emissions caused by the firewall is caused by China 's air quality problems , they have become a public health issue and we all need to reduce our carbon footprint ."

Dogecoin ™ CEO , Chairman Shibah iNews said:

Duke
Mr. interactive news station modeled Mensweardog
In addition, bitcoin miners Socialist Union warned that the decision would not do much to help China 's Bitcoin miners, who are often forced to difficulties in the absence of union protection under the harsh conditions of instability bitcoin mining work.

ILO report , more than a dozen canaries ( keeping their " Bitcoin " yellow tint ) bitcoin mining in China died last year .

"The children were forced to mine block to the main block chain , but the difficulty is astronomical - and these kids do not even make the transaction costs they're digging , " the investigator told the premier news source Bitcoin 's Coinion last December .

Even Apple has asked the authorities to investigate thoroughly .

"It's worse than Foxconn , we do not believe this is whatever , but it was," Apple CEO Tim Cook tweeted response. " It's almost inhuman to read the terms of iTunes service ."

Wild price fluctuations

The move is expected to result in greater volatility on the currency market has been a bit turbulent . Many Chinese investors and exchanges, is expected to start dumping their bitcoins held in the coming week . This could trigger a chain reaction , causing many investors to the former price of tanks, please uninstall your wallet .



Bit o coin prices fell | create infographics


However, it is seen as speculators and even some government a chance. Ukraine rumored to be planning to acquire up to $ 1 billion worth of bitcoins , it plans to use it to repay its $ 1.6 billion natural gas bill and angered Russia in this process .

Russian President Vladimir Putin did not leave a deep impression.

. " I bought into bitcoin $ 14 and $ 800 to sell all my prince, " he said, adding : "Under the leadership of Vladimir Putin , Russia 's Bitcoin exchange you."

Analysts expect prices bottoming out later this month , but it does when we come to spend a few weeks in negative territory , literally .

This is not all bad news. Speculators can expect if they pounce at the right moment huge returns. In related news , the mountain. GOX is widely expected to miraculously "discovered" hundreds of thousands of Bitcoin once, they are worth very little .

WTG Coindesk!  * ∞
Shows how ridiculous this whole thing is..

[chessnut]

Buy the rumour, sell the news doesn´t work this time!

"Most of the people still don´t get it. It´s not about the news that will push the market downwards, it´s about the chinese money that will leave the market in a few days."  Fonzie - Bitcointalk prophet

it's not about the chinese money ^that will leave the market in a few day's, it's about every friekin short out there getting squeezed, and billionaires getting the cheap coins while they can.

The panic selling has been. your newsies have been comfirmed, and the market doesnt care.  

- Chessnut.

[chessnut]

nice nice 490. we are camping in 500s today?

[podyx]

PUMP IT!
https://www.youtube.com/watch?v=CjCJAgndKZQ

[surfer43]

desperate shorters selling 0.01 BTC at a time. panic buy!

Edit: battle of the bots 

17:57:30
485.3
0.01
17:57:10
485.98
0.01
17:57:06
485.32
0.01
17:57:00
485.98
0.01
17:56:56
485.32
0.01
17:56:51
485.98
0.01
17:56:46
485.32
0.01
17:56:44
485.98
0.01
17:56:39
485.32
0.01
17:56:36
485.98
0.01
17:56:32
485.32
0.01

[ChartBuddy]

Explanation

[roslinpl]

nice nice 490. we are camping in 500s today?

yes indeed it looks like camping hehe
Skyrockets are getting ready in those camps ;]

[KeyserSoze]

That bottle of champagne wine has been sitting in the fridge for too long, so fuck this I'm gonna open it anyway.

Cheers from some AmeriTrash!

[boumalo]

This is entertaining; back from 450$ in the 500s territory, who knows where it is heading now?

Some are waiting for a huge bull market but could it start so early?

[KeyserSoze]

I should apply.  This is a programming job even I could handle. 

Remember us fondly once you hit the big time.

[chessnut]

This is entertaining; back from 450$ in the 500s territory, who knows where it is heading now?

Some are waiting for a huge bull market but could it start so early?

aye, it could start effortlessly, like a hot knife through butter.

This is a text book reversal. the market heard terrible news, confirming all their fears, and the price spikes down, failing to make new lows on western exchanges. Then, it proceeds to rally sharply without explanation.

the market is 100% prepared for this, the panic sellers are spent.
 
I think you will be amazed how easily it will cut through resistance into 600 soon.

long from 452.

[surfer43]

huge dump on stamp

[MinermanNC]

Like I said before when the 2nd rumor started, Screw China! lol Its just nice to know now where the rest of us stand. Put China to rest and all the iffy speculation on the possible impacts of a ban. Now I think the table is being set for a nice steady rise. We shall see?  

[Zule]

huge dump on stamp

huge being 100 in half hour?