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

[Frozenlock]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past. 

[1714217835]

1714217835

[1714217835]

1714217835

[ElectricMucus]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

ok

[adamstgBit]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past. 

you can't, if so we could expect to go up 20,000% in 4 years

nonsense, nonsense, nonsense

just look at the last 6 months of trading, understand why price moved the way it did, look around at what is happening now on the dev side of things, and then speculate.

[vokain]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past.  

you can't, if so we could expect to go up 20,000% in 4 years

nonsense, nonsense, nonsense

just look at the last 6 months of trading, understand why price moved the way it did, look around at what is happening now on the dev side of things, and then speculate.

20,000% in 4 years is reasonable if people start taking this seriously.

+1

and +1 to adam's msg. you can't just base it on past history, but it is something to consider why it did the things it did

[Richy_T]

i don't understand the numbers on the y-axis.

0
1 o
2 oo
3 ooo
4 oooo
5 ooooo
6 oooooo
7 ooooooo
8 oooooooo
9 ooooooooo

It's a base 10 right-to-left number system so

10 oooooooooo
11 ooooooooooo

And so on. Hope that helps.

[vokain]

Ah, the May 31, 2013 date on the chart and the fact that it covers July through August is what threw me off and thoroughly confused me. I would've understood it a lot quicker! in addition i wasn't familiar about the price action after the big dive as i didn't directly experience thx

the chart is from 2011 when bitcoin was "dead or dying"

0
1 o
2 oo
3 ooo
4 oooo
5 ooooo
6 oooooo
7 ooooooo
8 oooooooo
9 ooooooooo

It's a base 10 right-to-left number system so

10 oooooooooo
11 ooooooooooo

And so on. Hope that helps.

[Frozenlock]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past. 

you can't, if so we could expect to go up 20,000% in 4 years

nonsense, nonsense, nonsense

just look at the last 6 months of trading, understand why price moved the way it did, look around at what is happening now on the dev side of things, and then speculate.

I didn't say X%, I said Bitcoin will recover and rise to new incredible highs.

[vokain]

that much is true! i didn't intend to make my msg sound like it was arguing against you. i was just noting something. i suppose i should've wrote something to acknowledge what you actually wrote

[vps15]

price falling right now, dont expect this to last long though. Get on the train now if you missed before when it was below $100

bubble keeps deflating, nothing to see here

WRONG!!!!! we're already back up baby (well at least from the point where i just bought in)

Blastoff!

well i wasnt calling a major bubble, i just think its going to go back up to 110 or even higher this time

[ChartBuddy]

[adamstgBit]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past. 

you can't, if so we could expect to go up 20,000% in 4 years

nonsense, nonsense, nonsense

just look at the last 6 months of trading, understand why price moved the way it did, look around at what is happening now on the dev side of things, and then speculate.

I didn't say X%, I said Bitcoin will recover and rise to new incredible highs.

well sure,

but it has very little to do with past price movement.
and everything to do with development, growth, increased confidence and or increased fear of collapsing fiat.

[MoreFun]

go ahead, trade on this "if it happened b4 it will happen again" nonsense

You mean the part where everyone knows Bitcoin will recover and rise to new incredible highs?  

it has been up since 2009, 2010, 2011, 2012

and prices in 2009<2010<2011<2012<2013

Yup, but "someone" here thinks we can't base our expectation on the past.  

you can't, if so we could expect to go up 20,000% in 4 years

nonsense, nonsense, nonsense

just look at the last 6 months of trading, understand why price moved the way it did, look around at what is happening now on the dev side of things, and then speculate.

I didn't say X%, I said Bitcoin will recover and rise to new incredible highs.

well sure,

but it has very little to do with past price movement.
and everything to do with development, growth, increased confidence and or increased fear of collapsing fiat.

I don't like to say that but everything you wrote in the second line is bullshit. What development? New startup exchanges will bring new highs? Sure... (first they need to get any users then we will talk on). Growth? This whale rally is not growth as you are telling. Increased confidence? Sure, but it can be gone in a matter of hours. Collapsing fiat? Bring more popcorn I am having fun.

To make it clear, sure this has much to do with price, but not at the moment as AdamstgBit is wishing to rally because of that.

[vokain]

i would argue that price is a reflection of all those things

[thezerg]

price falling right now, dont expect this to last long though. Get on the train now if you missed before when it was below $100

bubble keeps deflating, nothing to see here

WRONG!!!!! we're already back up baby (well at least from the point where i just bought in)

Blastoff!

Are you all in fiat (still)? I moved back in at 102 but my question to you is "How can you ignore the tremendous size of the buys all the way up from $65 and again yesterday?"
This is BIG money and I don't think it is going to let us just drop away. "Think" being key word. ;-)

  you should have been in 25-50% at the short stability at 65-70 b/c predictions on this forum were to 50, and it NEVER goes quite to the bottom.  Then the whales from 70-90 could have been a big hint with a nice long pause at 87-92 for you to finish your purchasing (say up to 95% -- always leave a little  ), esp. since we've been hanging 'round 90-110 for months.

Or maybe you're day-trading and you've been in and out (of Ms Market? ) a lot since then?

[Its About Sharing]

price falling right now, dont expect this to last long though. Get on the train now if you missed before when it was below $100

bubble keeps deflating, nothing to see here

WRONG!!!!! we're already back up baby (well at least from the point where i just bought in)

Blastoff!

Are you all in fiat (still)? I moved back in at 102 but my question to you is "How can you ignore the tremendous size of the buys all the way up from $65 and again yesterday?"
This is BIG money and I don't think it is going to let us just drop away. "Think" being key word. ;-)

  you should have been in 25-50% at the short stability at 65-70 b/c predictions on this forum were to 50, and it NEVER goes quite to the bottom.  Then the whales from 70-90 could have been a big hint with a nice long pause at 87-92 for you to finish your purchasing (say up to 95% -- always leave a little  ), esp. since we've been hanging 'round 90-110 for months.

Or maybe you're day-trading and you've been in and out (of Ms Market? ) a lot since then?

I actually just exited to play it safe. Looks like it is a premium to get back in (or out) with that spread.
I'm trying to be safe and avoid greed as best I can.

Not a day trader at all and it would probably be better if I just bought an hold. But I'm holding on ok by getting in and out on occasion. More of a swing trader, nothing like a day trader.

Yeah, I should have entered at 68 but I was afraid it wasn't the bottom and didn't want to buy in at the bottom of a big red candle. That said, my finger was on the trigger.

What are your feelings right now with the BTC market and it's TA?

I don't like that big hanging man on high volume but as I said above, there is big money that is interested here...

[molecular]

price falling right now, dont expect this to last long though. Get on the train now if you missed before when it was below $100

bubble keeps deflating, nothing to see here

WRONG!!!!! we're already back up baby (well at least from the point where i just bought in)

Blastoff!

You wouldn't believe how I hope for that. The constant bombardment by bear talk made me reluctant to restock after localbitcoins Sells, so I'm sitting on this smelly pile of euro cash. A drop to 50 or even 30 would be an elegant opportunity to get rid of that.

However, I don't believe in it. This is not 2011.

[ChartBuddy]

[RationalSpeculator]

You wouldn't believe how I hope for that. The constant bombardment by bear talk made me reluctant to restock after localbitcoins Sells, so I'm sitting on this smelly pile of euro cash. A drop to 50 or even 30 would be an elegant opportunity to get rid of that.

However, I don't believe in it. This is not 2011.

I've come to the same opinion and have very little hope for $30 to be reached as I realized recently that even in 2011 the bottom ($2) was twice as high as the previous top before the bubble ($1). Twice as high as the top before the bubble ($30) would be $60 now but since $60 has been touched twice already I think chances are 50/50 it won't happen again. I realize this is contradictory to the bubble collapse theory which points to $40 only to be reached in a few months, as SlipperySlope explains so well. But he too is open to a reflating of the bubble before it deflates fully.

The gox exodus doesn't explain the strong buying happening on bitstamp. Someone wants coins really bad there and I highly doubt this to be arbitrageurs as the risk seems too high for their fiat stuck on gox. Is it just a pump and dumper or is it the rich taking a small position? I'm betting on the latter as all gates are open for them now. Bitcoin has proven to survive the 2011 depression, and the recent bubble gave bitcoin mainstream attention and above all legal approval from different government institutions. The price halving from the top is likely enough for them to take a small position already 'just in case it doesn't drop further'.  

Impaler, I think it was, also gave some good counterarguments one must look at volume and not time to see whether the deflating of the bubble is over. Based on volume it is. Also he confirmed how the rich are able to absorb more price volatitlity. Indeed, who cares if it's only a small percentage of your capital that you buy at $100 or $50 if the potential of it is to tenfold in 2-3 years? Most important is to take the small exposure, and not be left out.

I think it's time to become bullish again, though I certainly might be proven wrong.

[ElectricMucus]

The gox exodus doesn't explain the strong buying happening on bitstamp. Someone wants coins really bad there and I highly doubt this to be arbitrageurs as the risk seems too high for their fiat stuck on gox.

It's called delayed arbitrage. Since gox still has the highest volume the other exchanges are following it.
It's a pretty riskless profiting opportunity to just buy after a certain amount of coins have been bought on gox. You don't have to wire money just sell at a little gain and repeat.

[Traktion]

Head and shoulders completing for the day? Both volume and price points to it pretty clearly on MtGox.

The volume is still high on Bitstamp, mind. The pattern is there though.

Could we see a blow off back down to about 101 MtGox/93 Bitstamp?