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

[mccorvic]

Would it be so bad if BTC traded sideways between 250 and 270 for a few weeks before its next big move upward?

A few weeks is forever in bitcoin time.

Trading sideways for a day is about the best one can hope for

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[NamelessOne]

I would really enjoy it if Bitstamp overtook Gox price right now, so close, haha.

[DougTanner]

 

[seldon]

I would really enjoy it if Bitstamp overtook Gox price right now, so close, haha.

Contact!

[barbs]

bitstamp just slapped 265?? wtf

higher than gox

who is this mystery wall master

[Chainsaw]

Woot, gox, stamp parity.

Finally!

This means the market perception of Gox's failure likelihood has now reduced from 5-10% down to 0%, right? 

[strawbs]

I just saw my first ever All Time High, on Bitstamp.  Off to get some tissues.....

[spooderman]

ok so I figure whoever this wall belongs to must have wanted to sell for a long time, and now feels like there is enough buy pressure incoming due to ATH being reached that he can get away with selling so many.

Is that the only scenario that makes sense?

[barbs]

at least we know what the bid wall is all about on stamp.

Push stamp price up -> Gox users will flip out and buy the shit out of the 6k wall -> drop bid wall on stamp -> Dump more coins on stamp after having force fed your 266 to gox. Flush with fiat on both exchanges, pick up the broken dreams.

That's my theory.  It seems to be working.

It would work if everyone is in euphoria with the price flying through the roof and no one wants to sell as seems to be the case.

I wonder what will happen when people finally do rush to sell if that does happen.

Or maybe we go to the moon to 1000 without a hiccup.

Either way, these walls freak me out! I can't sell all my btcs though

[Nemo1024]

And good night from Europe.
Don't know what to expect from tomorrow, so I am 50/50 now.
Ok, I have a stronger bias for a small retraction to 245 land, before a new charge, but tomorrow will tell.

[awkorama]

Woot, gox, stamp parity.

Finally!

This means the market perception of Gox's failure likelihood has now reduced from 5-10% down to 0%, right? 

No, just the gox's failure is as likely as stamp's.

[strawbs]

ok so I figure whoever this wall belongs to must have wanted to sell for a long time, and now feels like there is enough buy pressure incoming due to ATH being reached that he can get away with selling so many.

Is that the only scenario that makes sense?

There's a chance, albeit slim, that he might be trying to prevent the price from rising too quickly, to prevent a bubble pop like last April. I don't believe that, but I'd like to....

[tHash]

ok so I figure whoever this wall belongs to must have wanted to sell for a long time, and now feels like there is enough buy pressure incoming due to ATH being reached that he can get away with selling so many.

Is that the only scenario that makes sense?

I figure it is a (super) early adopter who missed out selling on the last run up in April, and made the decision that he was going to liquidate 10k when we hit ATH again, as to not miss out a second time . . .   Probably figures he is adding some stability to the market in the process?  I am sure whoever it is has a bunch more.

[Wary]

1 to real ATH

[Phinnaeus Gage]

Woot, gox, stamp parity.

Finally!

This means the market perception of Gox's failure likelihood has now reduced from 5-10% down to 0%, right?  

The Rise and Fall of the World’s Largest Bitcoin Exchange

I wonder if the above had anything to do with it.

Whose got big balls now?

[notme]

Woot, gox, stamp parity.

Finally!

This means the market perception of Gox's failure likelihood has now reduced from 5-10% down to 0%, right? 

No it means, Gox and stamp have an equal likelihood to fail.

[spooderman]

ok so I figure whoever this wall belongs to must have wanted to sell for a long time, and now feels like there is enough buy pressure incoming due to ATH being reached that he can get away with selling so many.

Is that the only scenario that makes sense?

There's a chance, albeit slim, that he might be trying to prevent the price from rising too quickly, to prevent a bubble pop like last April. I don't believe that, but I'd like to....

benevolent manipulation is always a possibility, but they would have to do it on the other exchanges too right? A way to test would be us all buying like mad on stamp and seeing if one gets plonked down there too.

[Sitarow]

[ChartBuddy]

[2_Thumbs_Up]

ok so I figure whoever this wall belongs to must have wanted to sell for a long time, and now feels like there is enough buy pressure incoming due to ATH being reached that he can get away with selling so many.

Is that the only scenario that makes sense?

There's a chance, albeit slim, that he might be trying to prevent the price from rising too quickly, to prevent a bubble pop like last April. I don't believe that, but I'd like to....

Or he is one of the buyers on bitstamp. If Gox has liquidity difficulties he may have had problems withdrawing his coins. So he deposited at Bitstamp, buys there and sells his Gox coins to unsuspecting buyers, while not really losing anything himself. It would explain why he is not being more stealthy with his sale.

I can come up with lots of other scenarios as well but I think that he just wants out is still the most probable one, Occams razor and all.