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

[Wandererfromthenorth]

Looks like somebody hacked a BTC-E account that only had fiat in it, so the hackers had to buy BTC to withdraw them.

That's the only explanation I can find for that BTC-E pump that no other exchange followed/is following, lol

Yeah, that must be it. How's that Super Crash of yours going?

You know, if nobody believes it will crash beyond 140-150 you won't get a crash to 140-150.

?

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[ChartBuddy]

Coin
Explanation

[Fatman3001]

Looks like somebody hacked a BTC-E account that only had fiat in it, so the hackers had to buy BTC to withdraw them.

That's the only explanation I can find for that BTC-E pump that no other exchange followed/is following, lol

Yeah, that must be it. How's that Super Crash of yours going?

You know, if nobody believes it will crash beyond 140-150 you won't get a crash to 140-150.

?

I thought so

[empowering]

Massive support at 218-200, good time to buy if you still got fiat.. Also a Grexit is getting more and more likely, if this will happen it would be a big boost for Bitcoin.

Do you really reckon that's going to happen? I think the EU leaders will do everything in their power to avoid than scenario. Also, even Greece doesn't really want to get out of the Euro zone. Even if they left, they can't just decide to break off of the world economy. It they don't do their best to get their economy back on track, they'll be getting themselves into serious trouble, I guess...

They could default on their greek government debts, drop out of the eurozone but amend their legal tender laws to allow any currency, including euros, to circulate freely and be used by anyone. That would be their most sane course of action, so it will not happen.

Yeah, that would be a bold move, I guess, but it would effectively wipe out every last remaining drop of trust investors and creditors have left in Greece. Also, I believe this would also pretty much throw Greece's economy back into... the stone age maybe? Or do you think this could be a wise thing to do, actually?

Very, very wise. Investigate Panama, Hong Kong, Switzerland and Scottish free-banking eras. Greece would recover very quickly once they rescinded the massive debts that are strangling them to death and let economic freedoms flourish. All they need is a sound currency footing and a believable commitment to free markets, like any nation.

Being in Greece and closely monitoring the situation; I can only say that this "Grexit" scenario is a bold marketing trick. The elephant in the room is Germany and Deutsche Bank (please take a look at their leverage level on their loans). Nobody wants Greece out of the EU; that is except for the Greeks. Eliminating the decoy, would immediately turn heads towards the REAL problem of the EU Banking problem.

We're Greeks; not fools. A second currency would definitely rule out many of the problems (except if it was in the form of IOUs). Gresham's Law has always been accurate in the past and if THAT second currency would've been BTC over Euro, then goodbye debt crisis for Greece. Maybe April's fool joke from Yianis Varoufakis should be taken more seriously, if you ask me.

Unfortunately, after Riga it seems not feasible; so don't expect a rally from a Grexit or Gr-BTC adoption.  

http://greece.greekreporter.com/2015/04/01/yanis-varoufakis-greece-will-adopt-the-bitcoin-if-eurogroup-doesnt-give-us-a-deal/

Seems like YV might be getting sidelined - see his FDR tweet and a 'new' negotiating team joining the discussions to try and get the new bailouts over the line. Reports say YV did not want to remove Syriza's 'living wage' increases and the Troika, well, not such big fans.

Still don't think they will default and BTC won't even rate a mention so this never ending decline will continue, at least until the bears and quick buck traders near destroy it. But it will be back

The proof is in the pudding. People didn't jump off the Titanic when it was 12000 feet under water. They jumped before it had sunk. And the greeks are currently not buying BTC any more than the rest of us.

The Greeks themselves are not the point, just like the Cypriots were not.  Capital controls on the other hand......

[Wandererfromthenorth]

Looks like somebody hacked a BTC-E account that only had fiat in it, so the hackers had to buy BTC to withdraw them.

That's the only explanation I can find for that BTC-E pump that no other exchange followed/is following, lol

Yeah, that must be it. How's that Super Crash of yours going?

You know, if nobody believes it will crash beyond 140-150 you won't get a crash to 140-150.

?

I thought so

Ok, a serious answer:

1. There are several traders in this forum who think it's very likely that price will break current lows. Look around, I'm sure you'll find them.
2. There is a reason why people say "go against the crowd". One of the reasons it might break current lows IS because a lot of permabulls don't think it will go there. Same thing as when we were at $600, $500, $400, $300 etc.
3. The "Super Crash" is unfolding. It should increase in pace in a few days/weeks. At least that's my opinion on the market. I might be wrong of course.
4. Why are you getting defensive?

[nioc]

I am preparing for the "Super Crash"

Whatever is happening at BTC-e it is entertaining to watch.

[Ezmoneyezlife]

Looks like somebody hacked a BTC-E account that only had fiat in it, so the hackers had to buy BTC to withdraw them.

That's the only explanation I can find for that BTC-E pump that no other exchange followed/is following, lol

Yeah, that must be it. How's that Super Crash of yours going?

You know, if nobody believes it will crash beyond 140-150 you won't get a crash to 140-150.

?

I thought so

Ok, a serious answer:

1. There are several traders in this forum who think it's very likely that price will break current lows. Look around, I'm sure you'll find them.
2. There is a reason why people say "go against the crowd". One of the reasons it might break current lows IS because a lot of permabulls don't think it will go there. Same thing as when we were at $600, $500, $400, $300 etc.
3. The "Super Crash" is unfolding. It should increase in pace in a few days/weeks. At least that's my opinion on the market.
4. Why are you getting defensive?

Dont try to argue with blind bulls, m8. Just look at coindesk - only bad news like this one: http://www.coindesk.com/bitcoin-foundation-director-no-plans-to-fund-core-development/
Look at the charts and you will see that 160$ (atleast) is inevitable, every sane trader do see it but blind bulls wont ever admit it because they are blind and dont see the whole picture.
Bitcoin wont die but it will fall to 100-140$ within few weeks i have no doubts about it, time of bitcoin will come later this year then we are going to see >300$ per btc but not before.
For now chinese bots are doing their regular shitty job pumping a bit before a dump, it is so idiotic but traders do follow them or random buyings on btc-e (looka like a hacked account trying to cash out btc and buying), but thats their choice to go long and get rekt later, free will tho...

[luckygenough56]

this is fun actually

[Ezmoneyezlife]

this is fun actually

Yeah, small exchange doing crazy stuff and idiots are followings like lemmings, really entertaining!

[Wings1987]

this is fun actually

Out of control bot maybe? Sounds silly but when was the last time there was a $10 difference between BTC-E and Huobi?

[JorgeStolfi]

You're a liberal, he's a socialist. Those aren't dirty words. They have specific meanings.

I consider myself liberal AND socialist.  "Liberal"used to be a positive word meaning "open-minded".  Funny that it became a dirty word in the US to mean "stupid leftist" ("the 'L' word", as King Bush I used to say), whereas here in Brazil "neo-liberal" means "evil right-winger"...

[noobtrader]

wow...

the price at btce so high, compared to other exchange.

[Ezmoneyezlife]

So this is an another tiny bulltrap caused by insane bot or hacked fat account on a small exchange, classic btc "market" nowadays.

[tarmi]

this is fun actually

Out of control bot maybe? Sounds silly but when was the last time there was a $10 difference between BTC-E and Huobi?

Yep... It happend before.
If nothing else arbitrage bots will take other exchanges up and that can burn some bitfinex shorts

not sure about my shorts, but you can burn my farts

[luckygenough56]

So this is an another tiny bulltrap caused by insane bot or hacked fat account on a small exchange, classic btc "market" nowadays.

i have no idea i'm open to the craziest theorys lol

[Fatman3001]

@empowerin @WandererFromTheNorth  you might be right, we'll see

[Wings1987]

If it can break 230 looks to me like it could hit 240 pretty quickly. That would make things interesting.

[Sitarow]

[Wandererfromthenorth]

Price flat and no reason to break out. Then suddenly BTC-E (which is usually below any other market, is very illiquid and never leads price) starts going nuts and starts paying a 5% premium over other exchanges (so they timidly start to follow, very confused)


Organic growth or hacked account?

[POM]

BTC-e made my day