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

[Fatman3001]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

You haven't noticed how PBOC actions tend to coincide with major technical levels? Everyone was waiting for 7500 to break. Same happened with the Christmas / New Years rally.

What PBOC is doing is just the start. The real fun will start when other central banks join the party. Expect ECB to be the next one.

Jus to be clear: I doubt what they're doing is part of a centrally decided policy. It's probably just the lower officials dealing with Bitcoin who found a way to make money off of it.

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[JayJuanGee]

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

^fake news     lmfao

“There are a lot of people shorting bitcoin now, one because of the regulatory environment, another because the price is relatively high,” said Tian Jia, a Beijing-based trader of bitcoin. “The fact that PBOC continues to look into this issue might make people think that the whole thing isn’t over, and based on past trends, whenever the central bank holds meetings with exchanges the price will drop.”

bloomberg was surprisingly quick with this one. they almost brought it before the dump...  

No shit.  And then they went back in literally within minutes and edited/updated the article to reflect the price action, adding sensational words like "plummeted", cherry picking a recent chart from the last half hour.  All in real time.

They were just waiting on the drop from their "buddies".

Now tell me again how the media is not in bed with bitcoin manipulators?

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I've been on this forum for years now telling people that bitcoin buying/selling is not primarily driven by the Chinese people, and trolls made sure to come out and try to stomp on my posts every single time.  Now they can see the truth.

That evidence is NOT conclusive in any kind of meaningful way, and you are drawing a lot of pie in the sky manipulation theories from a small set of evidence.

Yeah, granted that Bloomberg wants to spin bitcoin in a negative way, granted Bloomberg writes much of various articles before the anticipated event happens... but that does not mean that they have any control or coordination or insider knowledge... they are just prepared to spread their FUD at the drop of a hat.. and they have pre-fabricated FUD... so what?

[julian071]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

[600watt]

Edit: sold 40% of my stash today.

[JayJuanGee]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

Yeah, that 40% seems like a pretty high amount to sell - especially when we seem to be continuing to experience real decent upwards price pressures.  

I could understand selling 10% or 20%, but not much more than that.. but that is just me, and each person has to find his/her own comfort level.

Also, I personally do not leverage my bitcoin buys, and if you are either leveraging or buying more than you can  afford to lose, then sometimes you are going to feel more pressures to either lock in profits or to sell at points that may not be so clear or ambiguous in respect to the price direction.

Currently, my BTC/dollar allocation is about 93%, yet my target BTC allocation is about 92%, so in other words, I am about 1% more invested in bitcoin than would be my personally imposed authorization outline....  Therefore, I am kind of gambling with that extra 1% that I have dedicated towards BTC... in other words, I remain a bit bullish in these times, even though we have already experienced really decent upwards price movements in the past several months.

[PoolMinor]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

RXZlbmluZyBkb2ppIHN0YXIgaWYgY29uZmlybWVkIG9uIHRoZSBkYWlseS4gNDAlIG1pZ2h0IG5vdCB iZWVuIGEgYmFkIGNob2ljZSBhZnRlciBhbGwu

[gembitz]

>_>
Edit: sold 40% of my stash today.

^ouch    no you didn't!!

[Ted E. Bare]

Anyone still believe it is going down / due for a correction? Definitely up, at least till the SEC decision.

[JayJuanGee]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

RXZlbmluZyBkb2ppIHN0YXIgaWYgY29uZmlybWVkIG9uIHRoZSBkYWlseS4gNDAlIG1pZ2h0IG5vdCB iZWVuIGEgYmFkIGNob2ljZSBhZnRlciBhbGwu

Yes Minorpool.. sooner or later you are going to be correct about an actual meaningful (15% or more) correction taking place - and my assessment is that the odds of such a correction may be a bit better now as compared to what they were in the lower $1,000s (while we were just passing through the resistance at that $1,000 level)...

So, yeah, I would not be surprised to witness a 15% or more correction taking place at any point between now ($1,055) and $1,180.  Nonetheless, this is bitcoinlandia - that frequently seem to enjoy overshooting any reasonable expectations... so therefore, I would not be surprised if no correction were to take place until $1,400 or greater....

Good to prepare for prices going into either direction... including you, Ted E. Bare.   

[Ted E. Bare]

I'm the most bullish and fluffy bear.

[JayJuanGee]

I'm the most bullish and fluffy bear.

Adorable, too.

 

[fr4nkthetank]

Anyone still believe it is going down / due for a correction? Definitely up, at least till the SEC decision.

Always buy the rumor and sell the news

[sirazimuth]

as this is the speculation thread im gonna go out on a limb here and speculate that bitcoin
will either go up or go down... then again it could go sideways.....

... just call me Nostradamus

[marcus_of_augustus]

Who sold at the bottom?

the usual dumpfers

[yefi]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

No kidding. The dump is invisible on the 3-day now, and we've just hit another high.

[gembitz]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

No kidding. The dump is invisible on the 3-day now, and we've just hit another high.

^chinese shortsellers are getting rekt!!

[Ted E. Bare]

I don't take the People's Bank of China seriously, nor any bank for that matter. That is one of the reasons we invested in bitcoin in the first place, right?

[MinermanNC]

Look'n pretty good for the home team!   I think 1100 is just around the corner. This is all way over due anyways. Just now shoring things back up to par. The halving had to catch up sometime  

[marcus_of_augustus]

I don't take the People's Bank of China seriously, nor any bank for that matter. That is one of the reasons we invested in bitcoin in the first place, right?

we've hit Eur1000 again ... wait for the dumbfers to have another go shorting to protect their now losing positions. PBOC probably has no idea their name is being used in Western business press by miners and whale traders to game a few shekels out of a volatile market.

[MinermanNC]

I don't take the People's Bank of China seriously, nor any bank for that matter. That is one of the reasons we invested in bitcoin in the first place, right?

we've hit Eur1000 again ... wait for the dumbfers to have another go shorting to protect their now losing positions. PBOC probably has no idea their name is being used in Western business press by miners and whale traders to game a few shekels out of a volatile market.

Going through my favorites folder and stumbled over this, remember the old 10k BTC for a Pizza? lol

https://bitcointalk.org/index.php?topic=137.msg1195#msg1195

and guess who is posting on the 2nd page of this thread 

The years flip on by don't they 

Every time I read through this I get astonishingly nauseated lol