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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21335600 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (104 posts by 20 users deleted.)
just1nmc
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April 26, 2013, 03:11:47 PM
 #1821

So, what are the expectations for the weekend guys? Based on past weekends I'd say that it will stay around $130-$140 without much happening at all. Weekends are kinda boring actually. Sad

That's pretty much my guess. Most of the action will be in how the bids and asks fill in. Support at $120 is getting stronger each time I look
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batcoin
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April 26, 2013, 03:14:43 PM
 #1822


1. Everything fundamental is growing stronger each day.


What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.

Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.

Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.

Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.

Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.

For these reasons, unless we get some big good news, the bear has killed the cat.

There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26

Is this only for 0.8.1 or does it take into account earlier versions too?
samurai1200
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April 26, 2013, 04:13:45 PM
 #1823

Most people have herd about bitcoins now.

Dead wrong. You know there are 7 billion people on Earth right?

Maybe: "Most people who have money to invest in risky ventures have heard about bitcoins by now."
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April 26, 2013, 04:13:49 PM
 #1824

Another pathetic wall at 132$ trying to defent price will colapse any second...
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April 26, 2013, 04:18:45 PM
 #1825

Another pathetic wall at 132$ trying to defent price will colapse any second...

that "pathetic wall" is getting less and less pathetic every min.
it's unclear what will happen this weekend.
i vote painfully slow slide down.

i dont think the bulls have a choice but to retreat to 120... it can't go straight up crash hard and just keep going straight up again ... can it  Huh


lol we'll see
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April 26, 2013, 04:24:45 PM
 #1826


1. Everything fundamental is growing stronger each day.


What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.

Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.

Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.

Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.

Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.

For these reasons, unless we get some big good news, the bear has killed the cat.

There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26

Is this only for 0.8.1 or does it take into account earlier versions too?

Here's the data for all: http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/map

China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.
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April 26, 2013, 04:41:28 PM
 #1827


China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.

Are you sure this is a bullish sign? What happens when Chinese government block bitcoin client communications with the Great Chinese Firewall? Are you sure what bitcoin network will be able to stand that level of network split?
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April 26, 2013, 04:50:59 PM
 #1828


China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.

Are you sure this is a bullish sign? What happens when Chinese government block bitcoin client communications with the Great Chinese Firewall? Are you sure what bitcoin network will be able to stand that level of network split?

Not even Tor does.
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April 26, 2013, 04:52:13 PM
 #1829

neat video

http://www.youtube.com/watch?v=Ea3PhK5_jWk
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April 26, 2013, 05:05:37 PM
 #1830


1. Everything fundamental is growing stronger each day.


What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.

Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.

Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.

Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.

Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.

For these reasons, unless we get some big good news, the bear has killed the cat.

There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26

Is this only for 0.8.1 or does it take into account earlier versions too?

Here's the data for all: http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/map

China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.

Thanks for that. It's interesting that ~1/3 of all downloads since Bitcoin's launch happened this year alone. Smiley
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April 26, 2013, 05:19:21 PM
 #1831

Going up again
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April 26, 2013, 05:26:53 PM
 #1832

Going up again

Or down. Hope nothing will change till monday.
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April 26, 2013, 05:33:02 PM
 #1833

so where is the supposed "crash" we were promised by those noob trolls?  Cheesy
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April 26, 2013, 05:34:14 PM
 #1834

new wall at 135
its looking good.
but i would expect the resistance in the high 140's to be too much.
we will fail to break over 160
we will fall below 120

 Tongue
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April 26, 2013, 05:35:20 PM
 #1835

Going up again

Or down. Hope nothing will change till monday.

Well, the dumpers will run out of steam if the price doesn't go below 120 before Saturday is through.  Once the dumpers have dumped their last dump, the price will go up to around 150ish or so easy.
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April 26, 2013, 05:36:28 PM
 #1836

new wall at 135
its looking good.
but i would expect the resistance in the high 140's to be too much.
we will fail to break over 160
we will fall below 120

 Tongue

If we take a stroll down memory lane just 3 months ago a $0.50 move per day was "VOLATILITY". Now "VOLATILITY" is $25 per day.
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April 26, 2013, 05:37:01 PM
 #1837

Bitcoin need to take a chill pill!
we have our trading range 160-120...
now relax and accumulate or unload ( whichever you prefer ) slowly...
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April 26, 2013, 05:42:09 PM
 #1838

Going up again

Or down. Hope nothing will change till monday.

Well, the dumpers will run out of steam if the price doesn't go below 120 before Saturday is through.  Once the dumpers have dumped their last dump, the price will go up to around 150ish or so easy.

How many dumps can a dumper dump? It boggles the mind...
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April 26, 2013, 05:43:00 PM
 #1839

new wall at 135

What wall?
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April 26, 2013, 05:44:02 PM
 #1840

new wall at 135
its looking good.
but i would expect the resistance in the high 140's to be too much.
we will fail to break over 160
we will fall below 120

 Tongue

What wall ? fake wall lol...
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