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

[gentlemand]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

If you had that much coinage and wanted to sell it then you'd be far better served selling it miles away from an exchange. Your price is set and there's no risk of the exchange failing, or them shutting you down.

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[ChartBuddy]

Explanation

[uhoh]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

[BlindMayorBitcorn]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

[gentlemand]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

Folks with that kind of cash washing around are going to be very, very reluctant to send it to a bunch of teenagers in Slovenia.

[criptix]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

to have 10 million $ on one exchange is nearly as smart as having 30.000 btc on one exchange lmao  

[BlindMayorBitcorn]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

Folks with that kind of cash washing around are going to be very, very reluctant to send it to a bunch of teenagers in Slovenia.

hehe. true

[SFHere]

That wall  


I'm calling bluff

[keewee]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

Exactly. And anyone scared into selling will be selling to him (and others who are accumulating). I think it's bullish

[derpinheimer]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

Ex-fuggin-zactly. No one wants this shit. You wanted cheap coins? Here they are! No? You wont buy until $274? Oh ok. Tomorrow: $260. Oh, you wont buy until $259?


Oh, you are actually just a desperate bulltard trying to pretend these prices are sooooooo low and the steal of a lifetime... all the way from $600? Eat shit.

[cypherdoc]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

to have 10 million $ on one exchange is nearly as smart as having 30.000 btc on one exchange lmao  

yeah true.  so stupid.

it has to be either Nejc Kodric or someone very close to him.

[NotLambchop]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

[nrd525]

There is a large wall on Cavirtex as well.  I don't use that exchange and haven't followed it, but I know their volume isn't that large. So a 3000 BTC wall is pretty huge for them. It is almost equal to the 30 day volume (3200).  By contrast the Bitstamp wall is only 1/5 of their 30 day volume.

Could the BearWhale be Canadian?

[inca]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

[BlindMayorBitcorn]

Imagine it doesn't and he just sells it down the market

[JorgeStolfi]

I mean how many 1TH/s miners does one think they can plug into a typical 200A house panel?
Sure there may be larger mining facilities out there but they have higher overheads.

There are bigger ones:
http://virtualmining.com/secret-bitcoin-mine-chinese-facility-uses-boiling-liquid-to-cool-massive-computers-that-generate-bitcoins-photos/
(That is an old one, though.)

AFAIK thse large installations are still profitable, even with today's prices.  But the increase in total hashrate means less coins for the outfits that were already mining.

[bahamapascal]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

My theorie, its some one that whants the price to go down. They are not intending to sell, otherwhise they would not have closed the sell wall and put it up higher.
And with 30k I think that they can well bring it to 100 -130 if done right.


The question is, who and why

Wild speculation would be, that the winklov brothers need more Bitcoin for there ETF. So they are trying to bring the  Price down. ^^

[NotLambchop]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

Actually, just the opposite.  The wall being bought would mean that big players do want to buy large quantities without slippage.

[Hen0xyd]

IMHO we reached the bottom here.

Nice volume, if we avoid the China rising and "Mtgox-dead" events this daily volume is the bigger since... Nov 2013 bubble launch. Also, nice rejection of sub-300.  
Not saying we'll see doubling in price each weeks but I see multiple data pointing this was the bottom we were waiting since months.

[derpinheimer]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

My theorie, its some one that whants the price to go down. They are not intending to sell, otherwhise they would not have closed the sell wall and put it up higher.
And with 30k I think that they can well bring it to 100 -130 if done right.


The question is, who and why

Wild speculation would be, that the winklov brothers need more Bitcoin for there ETF. So they are trying to bring the  Price down. ^^

Who is to say the wall wasnt there to:

Sell many thousand coins eating the walls on $300 (He sold ~5k)
Sell a couple thousand from bulltards who buy the wall, immedately after placed (He sold 2k)
Remove most of wall and leave a few k behind to get panic bulltard to eat them (SOMEONE sold 3k here)


Rinse and repeat until 40k coins are disposed of.