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

[jbreher]

http://www.zerohedge.com/news/2017-12-02/jpmorgan-has-some-bad-news-bitcoin-bears

Most provocative statement therein:

As JPM explains, "high trading volumes or market cap does not mean that the net flow directed into cryptocurrencies has been equally big."

Here is the bank's punchline: "The net flow into cryptocurrencies is very much a function of coin creation which is controlled by computer algorithms and in the case of bitcoin is diminishing over time. Figure 6 shows the net amount of money invested every year since 2009. The cumulative amount has totaled around $6bn since 2009, well below the current market cap of $300bn."

I get that the market cap is not a measure of the sum total of fiat spent to purchase Bitcoin. But $6B? That low? Seems off by an order of magnitude to me, but I'm just pulling a feeling outta my ass. I also get that this figure is courtesy of JPM themselves. Anyone know of an independent source for this statistic?

[1715561779]

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[1715561779]

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[milkshock100]

unimpressive

[EtihadBitcoin]

It is weird to see it at $11700 this morning and now slide of $1000 for no reason and it is a weekend where nobody works.
But bitcoin does not sleep so it will move on a whim at anytime of the day and no matter what day of the week it seems.
No news is good news but still.
Why back down at $10700 again?

Does not make much sense.

[PowerSEOService]

down to 10.5k is my guess

9500 now :-D sweet!

red and green makes for pretty Christmas 

[gembitz]

Aaaand bounce.

weeee

[sirazimuth]

wow, I sold a chunk at $11,758, subsequently expecting it to moon,as is always the case after I sell.....

and then it went down??!!  Holy crap!! that's a first.....
I should take up day trading!.....um, 2nd thought, maybe not.......

[gembitz]

down to 10.5k is my guess

9500 now :-D sweet!

red and green makes for pretty Christmas 

when bitcoin hits $1337 max keiser will have all your corns :-D lmao

[HairyMaclairy]

Holy crap woke up and my stop was hit at 11400

Hey Tera out of curiousity did you get out at 11400 or have slippage?

It executed at 11384.25

Thanks - deleted my prior post because I screwed up the formatting.  Did you pick 11,400 as resistance point for the stop?

No sorry I picked 11394. So that was a pretty impressive execution for Bitstamp.

Indeed, very impressive.

[Asrael999]

to much optimism in the poll

[Asrael999]

http://www.zerohedge.com/news/2017-12-02/jpmorgan-has-some-bad-news-bitcoin-bears

Most provocative statement therein:

As JPM explains, "high trading volumes or market cap does not mean that the net flow directed into cryptocurrencies has been equally big."

Here is the bank's punchline: "The net flow into cryptocurrencies is very much a function of coin creation which is controlled by computer algorithms and in the case of bitcoin is diminishing over time. Figure 6 shows the net amount of money invested every year since 2009. The cumulative amount has totaled around $6bn since 2009, well below the current market cap of $300bn."

I get that the market cap is not a measure of the sum total of fiat spent to purchase Bitcoin. But $6B? That low? Seems off by an order of magnitude to me, but I'm just pulling a feeling outta my ass. I also get that this figure is courtesy of JPM themselves. Anyone know of an independent source for this statistic?

they have no idea - there is no way to calculate the amount of fiat that has moved into bitcoin

[milkshock100]

to much optimism in the poll

not really - there'll be a new ATH with 36 hours.

[Wekkel]

It is just stamping the $10k bottom some further. No worries.

[HanvanBitcoin]

to much optimism in the poll

not really - there'll be a new ATH with 36 hours.

I hope it will take up atleast 14 more hours before it bounces   FIAT INCOMING  

[luckygenough56]

can't wait for the big dump

[gembitz]

It is just stamping the $10k bottom some further. No worries.

lambos are everywhere :-D weeee

[jbreher]

Am i right that they just dumped $5 Million just now? 

Umm.. who's 'they'?

can't the exchange say "sorry once you've sold your bitcoins we're not allowing you to buy back because we think you are spamming"

The exchange probably could. In their terms of service or somesuch. But you seem confused over the exchange's source of revenue.

[HairyMaclairy]

If there is a huge dump, what is the absolute fastest way to move fiat to an exchange ?  My experience with wires to Bitstamp is they still take 48 hours.  And Coinbase won’t take my non-US credit card (limits are probably too low anyway).

[jbreher]

Ooo I see red.

Did you really have to go there?

https://www.youtube.com/watch?v=3dh79Ggx9Js

XD

[jojo69]

I would expect strong support around 7000

yawn

[bitcoinvest]

who sold at the bottom ?