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

[redsn0w]

Explanation

Look at the volume.

Insane.

Yeah , It's very insane .... and it's also very strange.

Manipulation?

I don't  know what to  say , maybe yes.

[var53]

One thing is for certain though, the bids are deeper than when we were here a couple of months ago which suggests a more positive perception from most people in regards to the market. Now, we clearly saw it was OKcoin and China that led the price spike last week and now it has fizzled to where we might have expected to be if we had had steady growth from the "bottom". China is now being bearish with this Huobi news and it wouldn't surprise me to see the western exchanges take the lead which theoretically could lead to a much more sustainable rise. OKcoin trading is a joke with no fees and 20X leverage its just a bunch of gamblers trying to out luck each other and should not be somewhere the market looks towards to dictate a market price.

What happened in Huobi? I completely missed it :/

Nothing comfirmed but Jorge posted this earlier.

Scandal about Huobi's BitVC... or FUD planted by OKCoin?

Chinese article: http://www.btcbbs.com/forum.php?mod=viewthread&tid=25035&extra=
"火币网bitvc员工不得不说的惊人内幕"
"Huobi.com's bitvc employee reports amazing insider info"

English article based on it: http://www.bitell.com/t/2150
"We're Shocked!!! An Employee of Huobi BitVC Disclosed the Behind Story of His Working Platform, Huobi Co-founder Du Jun Claimed Huobi has Presented that to The Police"

Not sure what there is in it but would explain the small drop. More than likely some bear FUD.

I'm still not sure what it's about. Tzupy made this post about it, but that's all I know.

...
I cant open it, guess some dns issue.
could I get a digested version from someone?

The point is there could be a police investigation at Huobi, if the story is confirmed:

Today, an employee of Huobi BitVC gave out an article, saying he had to unveil the inside news of Huobi trading platform. Meanwhile, he did hope the management of Huobi can learn something from this event. What’s more, on the one hand, he hopes that No personal remarks will be made; on the other hand, he wishes that Huobi management can admit the things he said, or all the recordings will be announced.

the whole management team of Huobi, including Leon Li and Dujun actually know little about Bitcoin, what they have is the worship of Bitcoin, they only want to make money and make 796, OKCOIN and BTCC went bankrupt or even worse, and never thinking about whether their behaviors is helpful for Bitcoin industry or what they did will damage this industry.

[jonoiv]

Looks like no one left to dump and the order books are ready to burst.  the next 2 hours should finally see some bullish action. 

[Walsoraj]

Explanation

Look at the volume.

Insane.

What volume? You mean depth?

[NotLambchop]

... the next 2 hours should finally see some bullish action. are critical. 

[Torque]

Lemme help some of you new guys out.  Whenever you see things like market price setting at a fake number like $399.99 379.99 359.99, and it sits there for more than 12-24 hours without going up, you can bet that another dump is incoming.

You're welcome.

Oh jee, is it the same pattern all year?  Cheaper coins incoming.

[jonoiv]

Lemme help some of you new guys out.  Whenever you see things like market price setting at a fake number like $399.99 379.99 359.99, and it sits there for more than 12-24 hours without going up, you can bet that another dump is incoming.

You're welcome.

Oh jee, is it the same pattern all year?  Cheaper coins incoming.

But it's going in the other direction now. and no one is dumping. 

$380 incoming

[redsn0w]

Remember :


and :

[spooderman]

Fake numbers?

[janos666]

Lemme help some of you new guys out.  Whenever you see things like market price setting at a fake number like $399.99 379.99 359.99, and it sits there for more than 12-24 hours without going up, you can bet that another dump is incoming.

You're welcome.

Oh jee, is it the same pattern all year?  Cheaper coins incoming.

Thank god the Bitstamp price have not been fixed with surgical precision.

[NotLambchop]

...

Yaaay!

[ChartBuddy]

Explanation

[aztecminer]

This RIPPLE thing sounds pretty interesting, could somebody please tell me something about it! Thanks

White papers here: https://forum.ripple.com/viewtopic.php?t=4301

Bitcoin = AOL. Ripple = the internet. The smart money is currently moving into Ripple.

ripple sounds like a scam where a private bank prints all the money for a country except in this case it is a private company.
i have a hard time believing that a private company is someday soon going to replace the usd as a reserve currency.
i feel like i am trying to watch a great show and i keep getting spammed with someones latest scammercial.

[aztecminer]

This RIPPLE thing sounds pretty interesting, could somebody please tell me something about it! Thanks

White papers here: https://forum.ripple.com/viewtopic.php?t=4301

Bitcoin = AOL. Ripple = the internet. The smart money is currently moving into Ripple.

How? Ripple Labs doesn't sell stock shares.

See previous posts. XRP is like a stock that Ripple issues as the market develops. More issued as liquidity increases. Can buyback if liquidity fades. Much better mechanism for distribution than mining.

sounds more like printing more money than issuing more stocks...
problem is that racket is already been tried and FAILING very badly.
wait! with ripple we can now 'unprint' the money if we want too!
yeah i can see how that is superior technology /sarcasm.

[redsn0w]

...

Yaaay!

Ahhaha ,  yes . I'm not a dumper .... and you ?

[dEBRUYNE]

Now that the US has put out a notice for auction of 50000 BTC, i see big investors and whales dumping to bring down the price so that they can buy in cheap and pickup those 50K coins. Something similar to what happened when they announced the sale the last time. My only issue is, once the price settled down it did not move up as quickly as everyone anticipated. Could this mean another long drawn bear run? Don't know for sure, but im buying in when these coins are cheap and hoping that the price starts rising once the auction is done and dusted. My 2 satoshi.

I share this view. I think we won't go anywhere untill the 144k from DPR are auctioned off and a similair pattern will appear next two auctions.

[NotLambchop]

...

Yaaay!

Ahhaha ,  yes . I'm not a dumper .... and you ?

Dumper?!  When I hear the word "trader," I reach for my Mouser!

[ChartBuddy]

Explanation

[600watt]

Let's try to get all the ripple pumptards banned from this forum. Since there are ripple forums existing , why the fucking hell are they polluting our beautiful B I T C O I N forum? centralized, bank taylored rotten garbage/scam coins.

[JorgeStolfi]

Now that the US has put out a notice for auction of 50000 BTC, i see big investors and whales dumping to bring down the price so that they can buy in cheap and pickup those 50K coins. Something similar to what happened when they announced the sale the last time.

The price rose, for as-yet unknown reasons, from ~450$ on May-20 to ~650$ on Jun-03, and held there for a few days,

On Jun-12 the USMS announced the auction of the SR coins. The price immediately fell ~70$, and wandered about ~580$ until the auction.  It was ~600$ on auction day, Jun-29.

On the next day, Jun-30, the price jumped up again to about ~650$.  However it started to decline gradually, and by the end of July it was back to ~580$.

The drop after the announcement may have been manipulation, as claimed above.  However it could have been due to  general fear that the auctioned coins would end up being sold on the open market, and/or that the auction would close well below market.

The recovery on Jun-30 would then be due to the news that all coins had been bought by a ingle bidder.  Most people inferred, rightly or wrongly, that his bid had been well above market, and therefore that he was optimistic about the long term, and therefore he would not be dumping those coins on the exchanges.  (Anyone recalls when exactly Draper came public?)

Is the current slump related to the new USMS auction?  The times do not seem to match, and the impact of this new auction's announcement has been nothing compared to that of the June one.