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

[ensurance982]

SO, hypothetically;

There could be a premium for having funds invested in a licensed OTC Market. You don't have to deal with securing your coins yet you still are screwed if the trusts coins get taken... I guess it could be more palatable to investors to understand how their funds were invested. (In the GBTC units not in some shadowy exchange). I'm assuming there could also be some sort of tax benefits for investment avenues, ira's/roths/etc? But ultimately, coins could be so much cheaper bought on the open market. Is there really enough of a premium to be getting shares in the GBTC vs some thing like coinbase?

I think we will go sideways until Bitlicense is implemented and then all hell will break free. NY Ip's all get banned; DHS seizes Btc-e and Cryptsy. Then Wallstreet rolls in with their licensed ivory towers and gated communities. /Popcorn. Am I overestimating the possible impact of NY regulations? I just see it as both a significant impediment and tipping point. Thoughts?

Ha, well that's effectively the business model of GBTC, if I understand them and you correctly. I mean, they're buying and holding the coins for you - something we don't fancy, because we want to hold our coins ourselves - but hey, you can invest in that new fancy Bitcoin-thingy by regular means. And it's insured - that's what people want.

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[1561512228]

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[Dump3er]

Can I short it? Nothing against Leocoin, but I only short - I short all kind of things, always. If I can't short a thing it doesn't make me happy  

It is scientifically impossible to short LEOCoin, due to its mathematically advanced algorithm protocol.  It's Crypto 2.0.

Wow, that sounds like the wet dream of hodlers. You can't short it, you can't sell it while it keeps rising in value (at least on paper) - this coin could attract a lot of Bitcoin cultists.

[Dump3er]

Can I short it? Nothing against Leocoin, but I only short - I short all kind of things, always. If I can't short a thing it doesn't make me happy  

It is scientifically impossible to short LEOCoin, due to its mathematically advanced algorithm protocol.  It's Crypto 2.0.

Wow, that sounds like the wet dream of hodlers. You can't short it, you can't sell it while it keeps rising in value (at least on paper) - this coin could attract a lot of Bitcoin cultists.

I Love LEOcoins

I know.

[adamstgBit]

http://arstechnica.com/business/2015/04/bitcoin-foundation-is-effectively-bankrupt-board-member-says/

The organization was founded in 2012 by a number of Bitcoin luminaries who have since fallen, and the group itself has been marred by controversy in recent months. Of its original five founders, one is now in prison (Charlie Shrem), another oversaw the collapse of the largest Bitcoin exchange (Mark Karpeles), and yet another has since left the United States for a Caribbean nation known for offshore banking (Roger Ver). Of the original board members, only Bitcoin lead developer Gavin Andresen has remained.

LMAO

[Specular]

Can you guys exactly tell me what is GBTC, and how it's working?

http://www.otcmarkets.com/stock/GBTC/quote



GBTC is going to be the world's first publicly traded Bitcoin fund. Barry Silbert launched this thing in 2013 and they found a sneaky backdoor to putting a "Bitcoin fund" on a public exchange by publicly selling shares that have been held for 12+ months on an "Over the counter" market (not a top-tier one such as NYSE or NASDAQ). It is not officially an ETF (which is what the Winkle Twins are going for on NASDAQ), but it functions in much in the same way (with pretty hefty fees might I add). Effectively, each GBTC share is worth 0.1 Bitcoins, and it is set to start trading sometime this week, or so we are led to believe by Barry Silbert's Twitter account.


http://pando.com/2015/03/02/barry-silberts-bit-wins-the-race-to-become-the-first-publicly-traded-bitcoin-investment-vehicle/

[rolling]

I don't see why GBTC isn't being priced in already. There is a very good possibility that institutional money that CANNOT buy on the open market will flood into GBTC. The price of GBTC may very well be 10-20% higher than the exchanges for a while but as early adopters of BIT arbitrage, exchange prices have to follow.

[Fatman3001]

https://www.tradingview.com/s/bitcoin/?sort=recent
dyor

btw. chat at tradingview about btc is great place if you trade with brain (=analysis)

chessnut's and danv's at last time are pretty accurate
ofc you can find also bullish at now like always but there's much more premises to go down.

look at btcchina 15m - rising volume with dropping price, clearly distribution.
the guy with 500k$? long at finex is joke. We saw similar spikes right before price went down.
i don't say price will crash today or tomorrow but it's easy to see that this is another bulltrap very likely.
slowly downtrend with many mini bulltraps is what we can see now.
Maybe with final dump. the sooner, the better to go faster up imo.
Right now there's an army people holding btc and holding opened longs and they must believe that we're going higher.
they think that they're in accumulation phase:) because they're always buying when price rose lol.
usually that's the point when distribution is starting:)

Thx, nice to know who to watch. Been watching whaleclub on and off and people seem to see head and shoulders, reverse head and shoulders, support and resistance all over the place.

[Specular]

I don't see why GBTC isn't being priced in already. There is a very good possibility that institutional money that CANNOT buy on the open market will flood into GBTC. The price of GBTC may very well be 10-20% higher than the exchanges for a while but as early adopters of BIT arbitrage, exchange prices have to follow.

What you are saying makes sense. This is a weird moment, especially because GBTC may start trading any day/minute lol. You would think that Barry Silbert and the guys behind this thing would have had some of their own shares to kick this thing off - its like a weird Bitcoin IPO in the back alley.

[BitcoinIsLiberty]

I don't see why GBTC isn't being priced in already. There is a very good possibility that institutional money that CANNOT buy on the open market will flood into GBTC. The price of GBTC may very well be 10-20% higher than the exchanges for a while but as early adopters of BIT arbitrage, exchange prices have to follow.

Would long term BIT Trust holders convert to GBTC shares to sell as long as it is higher than their buy in and use profits to buy back BIT for a year? Would that help stop the premium on GBTC getting too high?

[Meuh6879]

it's an alt.
it haves fail.

nothing to understand.

[Dump3er]

...people seem to see head and shoulders, reverse head and shoulders, support and resistance all over the place.

Dudes like you, yeah, you know *caugh*

...you should only listen to the dump3er as this guy knows what he says.

[Fatman3001]

Only 9k volume on finex. Where are the dumps?

[Meuh6879]

Only 9k volume on finex. Where are the dumps?

in vacancy (eurozone vacancy, popes and others rabbits eggs ...)

[ChartBuddy]

Coin
Explanation

[macsga]

Only 9k volume on finex. Where are the dumps?

in vacancy (eurozone vacancy, popes and others rabbits eggs ...)

There's no chance we see any dumping during Easter time. Only Easter eggs and bunnies!
PS:
I'm no TA expert but it seems like we're going sideways for a couple of days. Then, definitely up.

[Fatman3001]

Only 9k volume on finex. Where are the dumps?

in vacancy (eurozone vacancy, popes and others rabbits eggs ...)

There's no chance we see any dumping during Easter time. Only Easter eggs and bunnies!
PS:
I'm no TA expert but it seems like we're going sideways for a couple of days. Then, definitely up.

How is bunnies laying eggs not the work of Satan?

[adamstgBit]

 

[bassclef]

https://www.tradingview.com/s/bitcoin/?sort=recent
dyor

btw. chat at tradingview about btc is great place if you trade with brain (=analysis)

chessnut's and danv's at last time are pretty accurate
ofc you can find also bullish at now like always but there's much more premises to go down.

look at btcchina 15m - rising volume with dropping price, clearly distribution.
the guy with 500k$? long at finex is joke. We saw similar spikes right before price went down.
i don't say price will crash today or tomorrow but it's easy to see that this is another bulltrap very likely.
slowly downtrend with many mini bulltraps is what we can see now.
Maybe with final dump. the sooner, the better to go faster up imo.
Right now there's an army people holding btc and holding opened longs and they must believe that we're going higher.
they think that they're in accumulation phase:) because they're always buying when price rose lol.
usually that's the point when distribution is starting:)

If you trade with a brain you won't be frequenting tradingview, whaleclub or any other group for that matter, you'll be reading and studying the market on your own. If those guys were making consistent money they wouldn't need to promote themselves to attract a following. And I can guarantee you those guys already know how to trade, set stops correctly, and read the market as it comes at them allowing them to avoid their own advice if it turns out to be false (which is often, no analyst is perfect). The poor lemmings who listen to them will be stuck in poor positions as the market turns against them, not knowing what to do, so they invariably hold, hoping and wishing (and trolling) that the market will come back to them. Eventually they get emotional and let go at the worst possible time. This is how the market eats newb traders.

Don't bother with 15m analysis. We are in an accumulation phase, at least on the longer term (months). They happen after capitulation at market bottoms. A long term distribution will occur at some point in the future, but not until after a strong bull market. Dec-Feb 2013/14 was the big distribution phase after the 2013 bull market. Accumulation generally takes longer than distribution, and we are nearing the final phases of one now started in January. Either bears get their wish and the market shakes down to $200 again before takeoff, or we blast off upwards through spring and summer. It's anyone's guess at this point. In the event of a shakeout many longs (who have proven to be well-capitalized) would continue to hold and more shorts led by dumb money would be opened, only to run for cover on the reversal. In the event of a blast off, the shorts would still run for cover and many more would be opened above $300 only to be destroyed by a new bull market, which always follows an accumulation phase (of course the dumb money does not know this). This is why there are so many well-funded long positions, probably some professional money there. Shorts are the weak hands in both scenarios.

Personally, with the difficulty the market has had selling of recently, my vote is for the blast off. It'll happen just like every other bubble: Supply is removed from remaining weak hands via capitulation, market fails to continue downward as demand is back in control, and price floats up for a few months before gaining steam into a parabolic move. Then distribution and another bear market as all the weak hands who bought at the top bail again, then accumulation and another bull market. Rinse and repeat.

[tarmi]

I know that you don't know what any formation and indicator is.

drinking? because i'm not blind bull?

welcome to ignore again :-)

lol,

Try sharing some of those lines, formations and indicators. Don't go full tarmi. We already have one of those.

(Then again, if JimboToronto is ignored I guess I am too)

https://www.tradingview.com/s/bitcoin/?sort=recent
dyor

btw. chat at tradingview about btc is great place if you trade with brain (=analysis)

chessnut's and danv's at last time are pretty accurate
ofc you can find also bullish at now like always but there's much more premises to go down.

look at btcchina 15m - rising volume with dropping price, clearly distribution.
the guy with 500k$? long at finex is joke. We saw similar spikes right before price went down.
i don't say price will crash today or tomorrow but it's easy to see that this is another bulltrap very likely.
slowly downtrend with many mini bulltraps is what we can see now.
Maybe with final dump. the sooner, the better to go faster up imo.
Right now there's an army people holding btc and holding opened longs and they must believe that we're going higher.
they think that they're in accumulation phase:) because they're always buying when price rose lol.
usually that's the point when distribution is starting:)

...

so you are saying that this mini downtrend from 300 is very similar to the one we had for a year from 1200?

impossible bro, this thing is about to skyrocket!

[Bitcoiner_cph]