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

[fichtn12345]

Who are we manipulating Adam? 

the bankers that read this thread?

Confirmed.

[savetherainforest]

Who are we manipulating Adam? 

the bankers that read this thread?

But I like volatility! #Sarcams  

... Anyway... it seems its Game Over for everyone... Uber duper super nuber coil just started to unfoil.  

[JayJuanGee]

No, I am not a whale. And I do not have some insider info. It just seems right now community is lacking optimism because of bitfinex hack and horrible price crash. And it is true that small volume gives ability to manipulate price. But this manipulation is harder everyday.

What I actually feel is fear. But bear with me. Times when I felt fear just the opposite happened (price jumped up) and times when I felt strong euphoria - price crashed down. But traders ignore feelings, right?

I'd say wait for 3-4 days and we will see where we land. Right now it's fear clusterfuck.

Based on your own feelings (described as fear at this point), it seems that you are attempting to mock some common points of wisdom, specifically to attempt to not become too emotional regarding either your investment or your investment choices.

Do you really believe that advice, regarding keeping emotions out of your trades to be bad advice?

Yes, I will concede that humans have emotions, and even if you program some bot trading, you are still emotionally attached to your investment in some degree, otherwise you would not have spent time considering it and making such investments.

I doubt that anyone is really suggesting that you should be a bot or have no human emotions in respect to your investment, but over time, you should be able to establish systems (whether it is buy/ HODLing or trading) in which you have a general plan for no matter which direction the market goes.  Maybe you do not know every single specific of your plan because sometimes the plan may be that you need to review your plan and to reconsider your plan at various points and upon the triggering of certain events.

Anyhow, part of my point is that you can establish ways to attempt to minimize emotions..

I only use myself as an example because I am able to talk about my own situation, and surely from time to time, I feel emotions when the price moves against me and when it is very volatile, because a person cannot really know when it is going to stop in one direction or another, and even with myself, my built in assumption over time is that bitcoin prices are going to go up.  Therefore, I structure my strategy in such a way that my whole portfolio does better when prices go up, so yeah, my portfolio was doing fucking great all the way up to $779, and it is not in as great of shape at $566 as it was at $779.

Anyhow, I do have to reconfigure from time to time, and I attempt to be prepared for the price to go down in considerable ways, even if it were to return to the $200s.. though of course, matters are much better going up rather than down, and less down is better than a lot down.. yet  overall staying above the mid-$00s is good, too.   

I guess my main points is to prepare mentally and to prepare with your portfolio with a plan that is suitable for you, and if you are becoming extremely emotional, that is likely a sign that you have over invested either in one direction or another.. so you may need to tweak your holdings in order to remove some of the anxiety that is being evoked by the then current situation.

Hello!

Thanks for clear and explanatory reply.

Indeed, I was anxious about my plan because I had no plan for down. Now I do just to calm my nerves down. Because today's dip was good enough to cause me to smoke shitloads of ciggaretes.

Though, my story is developing just right: "price will drop a bit but it will recover".

We still see FUD going on with fake threads. But in case it doesn't, I will just buy more.

I think that during times of consolidation (maybe currently in the $550 to $590 price arena - for the past couple of weeks), we should be attempting to prepare ourselves financially and mentally, that the price could  break out in either direction - and maybe placing a little bit of a bet that the odds are better in one direction rather than another (I still am a tiny bit more inclined to believe that an upwards break out is a bit more likely), but yeah, if we break downwards, I am prepared too... staggered tentative bets....

From your above post, it appears that you have allowed yourself to reconsider and reflect a bit in the past 24 hours, and that is a good thing (even though smoking a shit load of cigs may not have been so great for yourself, physically). 

 

[Capradina]

No, I am not a whale. And I do not have some insider info. It just seems right now community is lacking optimism because of bitfinex hack and horrible price crash. And it is true that small volume gives ability to manipulate price. But this manipulation is harder everyday.

What I actually feel is fear. But bear with me. Times when I felt fear just the opposite happened (price jumped up) and times when I felt strong euphoria - price crashed down. But traders ignore feelings, right?

I'd say wait for 3-4 days and we will see where we land. Right now it's fear clusterfuck.

Based on your own feelings (described as fear at this point), it seems that you are attempting to mock some common points of wisdom, specifically to attempt to not become too emotional regarding either your investment or your investment choices.

Do you really believe that advice, regarding keeping emotions out of your trades to be bad advice?

Yes, I will concede that humans have emotions, and even if you program some bot trading, you are still emotionally attached to your investment in some degree, otherwise you would not have spent time considering it and making such investments.

I doubt that anyone is really suggesting that you should be a bot or have no human emotions in respect to your investment, but over time, you should be able to establish systems (whether it is buy/ HODLing or trading) in which you have a general plan for no matter which direction the market goes.  Maybe you do not know every single specific of your plan because sometimes the plan may be that you need to review your plan and to reconsider your plan at various points and upon the triggering of certain events.

Anyhow, part of my point is that you can establish ways to attempt to minimize emotions..

I only use myself as an example because I am able to talk about my own situation, and surely from time to time, I feel emotions when the price moves against me and when it is very volatile, because a person cannot really know when it is going to stop in one direction or another, and even with myself, my built in assumption over time is that bitcoin prices are going to go up.  Therefore, I structure my strategy in such a way that my whole portfolio does better when prices go up, so yeah, my portfolio was doing fucking great all the way up to $779, and it is not in as great of shape at $566 as it was at $779.

Anyhow, I do have to reconfigure from time to time, and I attempt to be prepared for the price to go down in considerable ways, even if it were to return to the $200s.. though of course, matters are much better going up rather than down, and less down is better than a lot down.. yet  overall staying above the mid-$00s is good, too.   

I guess my main points is to prepare mentally and to prepare with your portfolio with a plan that is suitable for you, and if you are becoming extremely emotional, that is likely a sign that you have over invested either in one direction or another.. so you may need to tweak your holdings in order to remove some of the anxiety that is being evoked by the then current situation.

Hello!

Thanks for clear and explanatory reply.

Indeed, I was anxious about my plan because I had no plan for down. Now I do just to calm my nerves down. Because today's dip was good enough to cause me to smoke shitloads of ciggaretes.

Though, my story is developing just right: "price will drop a bit but it will recover".

We still see FUD going on with fake threads. But in case it doesn't, I will just buy more.

I think that during times of consolidation (maybe currently in the $550 to $590 price arena - for the past couple of weeks), we should be attempting to prepare ourselves financially and mentally, that the price could  break out in either direction - and maybe placing a little bit of a bet that the odds are better in one direction rather than another (I still am a tiny bit more inclined to believe that an upwards break out is a bit more likely), but yeah, if we break downwards, I am prepared too... staggered tentative bets....

From your above post, it appears that you have allowed yourself to reconsider and reflect a bit in the past 24 hours, and that is a good thing (even though smoking a shit load of cigs may not have been so great for yourself, physically). 

 

I very much agree to what you are talking about. That may be the price of the bitcoin for some weeks will remain between $ 550-$ 575. because I see that conditions have started to improve and I think in time it will come a bitcoin will experience the events always occur i.e. price will be stable. And during that time we were obliged to remain patient and not rash

[Elwar]

I think the Bitfinex hack has more of us on edge because at least with MtGox there were months and months of warning signs including the inability to withdraw your fiat, their dwolla account being closed, etc. So most people who had any intelligence got out. The only people still on MtGox before it was "hacked" were taking advantage of wild swings due to pure chaos on the exchange.

With Bitfinex it was seen as fairly secure because it had been around as long as most of the older exchanges, it had gone through a lot of transparent security measures and everyone felt fairly confident in the exchange (as confident as you can be). I even used to recommend to people that they use Bitfinex to loan their fiat for 20-30% yearly. They would tell me that such returns required high risk. My response was that since each loan was paid back the only risk was the exchange going under, which was not likely.

This is not a faulting of Bitcoin itself, but people might not feel very confident putting any money on any exchange if Bitfinex could be hacked. This cuts down on the speculation aspect of Bitcoin which contributes to the price. It is just a matter of time without an exchange hack to get people to feel more confidence in trading again.

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

In the short term, it's going to be a good buying opportunity. Long term we're still solid.

[InitcoiN]

I think we first go short, then long to a new highs...

Sounds like you are talking your book... There is no reason that we go short before we go long...

There have already been several downward attempts on the price, and sure you could be correct that there will be another one or that the next downward attempt (if there is one) will be successful, but certainly, you gotta be careful, at this point regarding how much you were to bet on downwards.

Well, as you can see, we go down now... Maybe we go down a little bit more before the uptrend resumes.

GL on your trades

[gentlemand]

This is not a faulting of Bitcoin itself, but people might not feel very confident putting any money on any exchange if Bitfinex could be hacked.

Bitfinex proved nothing. Bitfinex guaranteed nothing. Their ownership is murky. They answer to no regulator. It's rather hard to figure out what country they're in. There is no insurance. One of their main men stated that he traded on his own exchange.

I can't see any fundamental difference between Bitfinex and Gox apart from them making more of the right noises and putting up a more 'professional' facade. They did not deserve or justify anyone's money or trust.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

[Elwar]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

[Elwar]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

That would be true if that's what I said.

[NewbieTreider]

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

And provides a wonderfull security system with an incredible insurance for their users.

Sorry, but after lose my money there, I need to be ironic.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

That would be true if that's what I said.

Ah, my mistake, apologies. Assumed we were talking about finex.

You're right, most of Bitcoin's problem do come from interacting with fiat. Since that's what it is mainly used for (trading), that's a boatload of problems.

[XCASH]

This is not a faulting of Bitcoin itself, but people might not feel very confident putting any money on any exchange if Bitfinex could be hacked.

Bitfinex proved nothing. Bitfinex guaranteed nothing. Their ownership is murky. They answer to no regulator. It's rather hard to figure out what country they're in. There is no insurance. One of their main men stated that he traded on his own exchange.

I can't see any fundamental difference between Bitfinex and Gox apart from them making more of the right noises and putting up a more 'professional' facade. They did not deserve or justify anyone's money or trust.

It's code was based in Bitcoinica's code, and Bitcoinica was hacked. Bitfinex's code was so bad it had well known serious bugs, like hitting buttons multiple times led to unexpected behaviour. I never traded on Gox but I read its code also had serious bugs. Moreover, Gox froze trading a number of times like Bitfinex. There were warning signs both exchanges had serious problems for years before they said they'd had massive hacks.

[kobilica]

Panic buy has begun? 

[kobilica]

Though selling pressure still higher on buying on most exchanges, something has triggered this.

15 minute candle chart shows mean reversal, possibly bots started to buy again.

[XCASH]

Though selling pressure still higher on buying on most exchanges, something has triggered this.

15 minute candle chart shows mean reversal, possibly bots started to buy again.

Bitstamp just took over from Bitfinex as the highest volume exchange for USD/BTC. It's strange how Bitstamp took the lead at the same time a reversal started up. Maybe it's just coincidence, or maybe not.

[kobilica]

People are tired of trading on BitFinex it seems.
Also BitStamp just started doing more for security (trezor wallet) 

[savetherainforest]

Panic buy has begun?  

Yep.      



Like I always predicted ... Up! Up! Up!   ...  

[JimboToronto]

Good morning Bitcoinland.

$580 on BitcoinAverage. That pretty much corrects the small dip of the last 2 days.

Back to sideways?