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

[MrPiggles]

with all the bad repution from news we should be at 680 by next week

OMG this is a terrible news...

http://www.coindesk.com/new-fund-gives-traders-blue-chip-stock-exposure-bitcoin/

nice

wtf, how is a website registered 3 months ago, not even a particularly advanced website "blue chip"

I could throw that together in 2 hours and get coindesk to give me a good press release.

[1714584475]

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[1714584475]

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[Darkmatter12]

Bitcoin is a very safe asset. It won't go away, unlike fiat  

Central Banks of Serbia and Portugal didnt think so...  http://cointelegraph.com/news/112687/central-banks-of-serbia-and-portugal-warn-bitcoin-users

serbia, lol



portugal, lol


that is all.

I laughed more than I should have. LOL

[MrPiggles]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people neither do I care what portugal and serbias central banks think.

[ChartBuddy]

Explanation

[PestoQuinty]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

[ShroomsKit]

Bitcoin is a very safe asset. It won't go away, unlike fiat  

Central Banks of Serbia and Portugal didnt think so...  http://cointelegraph.com/news/112687/central-banks-of-serbia-and-portugal-warn-bitcoin-users

serbia, lol



portugal, lol


that is all.

 

[Bagatell]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

[mmitech]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

does that make the whole US a shit failure land ? just saying...

[deeplink]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

does that make the whole US a shit failure land ? just saying...

No, but it tells you something about the people running it.

[Bagatell]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

does that make the whole US a shit failure land ? just saying...

sort of my point about the photos above.

[mmitech]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

does that make the whole US a shit failure land ? just saying...

No, but it tells you something about the people running it.

you mean the ones that got voted by a free and democratic process ?

[Tzupy]

Genuine bullish article at Coindesk:
http://www.coindesk.com/dark-markets-grow-bigger-bolder-year-since-silk-road-bust/

[deeplink]

I laughed more than I should have. LOL

Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.

Well i am from Serbia, but i share your sentiment.

Could be worse. You could be from Detroit.

does that make the whole US a shit failure land ? just saying...

No, but it tells you something about the people running it.

you mean the ones that got voted by a free and democratic process ?

Yes those muppets

[empowering]

I spend 20% of my income partying and traveling for football games.

This is extremely wise

"I spent a lot of money on booze, birds and fast cars. The rest I just squandered. "

[oda.krell]

What I meant is that people who were buying thought that yesterday was a clear sign of reversal, others thought that the 30K wall was a clear attempt of manipulation to buy "cheap" so they bought back fast, others thought it was the last sign before the Cho Cho...

What people seem to ignore or don't understand is that once we reach the bottom, no one will miss buying "cheap", because we will be trading at that level for several weeks before going up.

And you reach that conclusion based on what exactly?


We don't have much precedents to work with, as Bitcoin trading history is only ~4 years old. During that time, 3 major rally/capitulation cycles took place, and we're still in the capitulation part of the of the 3rd one. (There are other ways to parse the  trading history, but this one's fairly well accepted.)

I'm mentioning this because any extrapolation from so little data points is of course dubious. Then again, it's the best we have.  

So, what do the two completed capitulations look like that we've seen so far:

2013:
bottom 1 = ~$50, the initial post-ATH crash.
bottom 2 = ~$65, about 3 months later.

In between: extreme volatility. Nothing like a flat bottom that allowed you scoop up "cheap coins" at will. Also, 2nd bottom already 30% higher than the first.


2011:
bottom 1 = ~$2, at the end of the almost straight down, multi month correction
bottom 2 = ~$2, about 1 month after the first.

Maybe that's where you get the idea from that you could scoop up cheap coins for weeks before it goes up again. The only problem - even in the 2011 double bottom, there was extreme volatility in between. Price went from $2 to almost $4 (i.e. +100%), before coming down again.


tl;dr There's not much data to work with, given the short trading history of Bitcoin, but from what we have seen so far, a flat capitulation bottom, stretched out over weeks, doesn't seem likely.

[oda.krell]

There are people who like Formula 1. And then there are people who like Nascar. And then there are people who like Monster Trucks.

I like cranes and bulldozers (but those are probably more boring than fast cars going round and round.)

The collective noun being dickheads?

Really, the male obsession over the internal combustion engine is quite pitiful.

Hey calm down woman. I notice a lot of males this and males that in your posts. In a negative way. I'm highly offended. And i might report you for discrimination.

rule no. 16. There are NO girls on the internet.

Look up what "there are no girls on the internet" really means.


Also, I for one welcome our 2.5% share of womenfolk in here. Because, otherwise:

https://www.youtube.com/watch?v=9Wl_uQOABxg

[Tzupy]

What I meant is that people who were buying thought that yesterday was a clear sign of reversal, others thought that the 30K wall was a clear attempt of manipulation to buy "cheap" so they bought back fast, others thought it was the last sign before the Cho Cho...

What people seem to ignore or don't understand is that once we reach the bottom, no one will miss buying "cheap", because we will be trading at that level for several weeks before going up.

And you reach that conclusion based on what exactly?


We don't have much precedents to work with, as Bitcoin trading history is only ~4 years old. During that time, 3 major rally/capitulation cycles took place, and we're still in the capitulation part of the of the 3rd one. (There are other ways to parse the  trading history, but this one's fairly well accepted.)

I'm mentioning this because any extrapolation from so little data points is of course dubious. Then again, it's the best we have.  

So, what do the two completed capitulations look like that we've seen so far:

2013:
bottom 1 = ~$50, the initial post-ATH crash.
bottom 2 = ~$65, about 3 months later.

In between: extreme volatility. Nothing like a flat bottom that allowed you scoop up "cheap coins" at will. Also, 2nd bottom already 30% higher than the first.


2011:
bottom 1 = ~$2, at the end of the almost straight down, multi month correction
bottom 2 = ~$2, about 1 month after the first.

Maybe that's where you get the idea from that you could scoop up cheap coins for weeks before it goes up again. The only problem - even in the 2011 double bottom, there was extreme volatility in between. Price went from $2 to almost $4 (i.e. +100%), before coming down again.


tl;dr There's not much data to work with, given the short trading history of Bitcoin, but from what we have seen so far, a flat capitulation bottom, stretched out over weeks, doesn't seem likely.

After a harsh corrective wave A, the bear market of April - July 2013 traded in a relatively narrow range, not with extreme volatility.

It doesn't have to be flat to trade below major resistance levels, and could take 4 - 5 months, not weeks, to break the 680$.
And that's in the bullish scenario, where we already hit THE bottom. In the bearish one it's going to be scary even for bottom fishers.

[Wandererfromthenorth]

Yes usually the last flash crash the establishes a bottom that will last for months is followed by a quick high volume rebound, at least for the last few cycles.

[adamstgBit]

What I meant is that people who were buying thought that yesterday was a clear sign of reversal, others thought that the 30K wall was a clear attempt of manipulation to buy "cheap" so they bought back fast, others thought it was the last sign before the Cho Cho...

What people seem to ignore or don't understand is that once we reach the bottom, no one will miss buying "cheap", because we will be trading at that level for several weeks before going up.

And you reach that conclusion based on what exactly?


We don't have much precedents to work with, as Bitcoin trading history is only ~4 years old. During that time, 3 major rally/capitulation cycles took place, and we're still in the capitulation part of the of the 3rd one. (There are other ways to parse the  trading history, but this one's fairly well accepted.)

I'm mentioning this because any extrapolation from so little data points is of course dubious. Then again, it's the best we have.  

So, what do the two completed capitulations look like that we've seen so far:

2013:
bottom 1 = ~$50, the initial post-ATH crash.
bottom 2 = ~$65, about 3 months later.

In between: extreme volatility. Nothing like a flat bottom that allowed you scoop up "cheap coins" at will. Also, 2nd bottom already 30% higher than the first.


2011:
bottom 1 = ~$2, at the end of the almost straight down, multi month correction
bottom 2 = ~$2, about 1 month after the first.

Maybe that's where you get the idea from that you could scoop up cheap coins for weeks before it goes up again. The only problem - even in the 2011 double bottom, there was extreme volatility in between. Price went from $2 to almost $4 (i.e. +100%), before coming down again.


tl;dr There's not much data to work with, given the short trading history of Bitcoin, but from what we have seen so far, a flat capitulation bottom, stretched out over weeks, doesn't seem likely.

I think we're going to see a slow grind up, but this wont be at bottom... if we reach a new bottom market will do exactly what it always does, snap back and then try for a slow grind up.

its not unlikely that we reached bottom on the weekend market is now looking to climb back to 350ish before starting the slow grind up.

read all about it here.

maybe 330 is the where the line has been drawn tho, we'll see...

[scryptasicminer]

Yes usually the last flash crash the establishes a bottom that will last for months is followed by a quick high volume rebound, at least for the last few cycles.

Problem is the down trend is still intact. And fundamentally, there are still more mining farms need to cash out every day just to pay the bill.