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

[Loaded]

This has been one wild week... I've been dealing with calls and emails nearly 24 hours a day. Managed to keep most of the panic sells between old and new clients and off the market.

So has the panic stopped?  Are we going to see more upwards activity again?

Fundamentally nothing has changed, it is my opinion that the crash was caused by gox and those who sold into the lag, only to see their market orders execute much lower than expected. I currently have >$15M waiting to buy, however the vast majority will be off exchange. Many of these private trades are at individually negotiated prices, sometimes significantly different from market.

[keewee]

https://i.imgur.com/zR9MKM6.png

Also, could someone please tell me what the green line represents exactly?

The green line is weird on bitcoinium.  It seems to be the price rounded to the nearest whole dollar price.  See how it steps from one dollar to the next, never going part way between dollars?

Edit: you can see the effect even better here:

https://i.imgur.com/tyQHLdo.png

See how the line steps either side of the $67.5 gridline?

It seems to relate to the 3 decimal places at the top. Usually it simply shows xx.000 but occasionally it will show correct values. Example:

[oakpacific]

This has been one wild week... I've been dealing with calls and emails nearly 24 hours a day. Managed to keep most of the panic sells between old and new clients and off the market.

So has the panic stopped?  Are we going to see more upwards activity again?

Fundamentally nothing has changed, it is my opinion that the crash was caused by gox and those who sold into the lag, only to see their market orders execute much lower than expected. I currently have >$15M waiting to buy, however the vast majority will be off exchange. Many of these private trades are at individually negotiated prices, sometimes significantly different from market.

So you operate the biggest Bitcoin dark pool,  Loaded?

[crazy_rabbit]

At least we seem to be fighting around the $60-$80 range. To be honest, had this been 3 weeks ago we would all been ecstatic to be here. So lets keep it in perspective.

[Loaded]

This has been one wild week... I've been dealing with calls and emails nearly 24 hours a day. Managed to keep most of the panic sells between old and new clients and off the market.

So has the panic stopped?  Are we going to see more upwards activity again?

Fundamentally nothing has changed, it is my opinion that the crash was caused by gox and those who sold into the lag, only to see their market orders execute much lower than expected. I currently have >$15M waiting to buy, however the vast majority will be off exchange. Many of these private trades are at individually negotiated prices, sometimes significantly different from market.

So you operate the biggest Bitcoin dark pool,  Loaded?

Not normally and probably not biggest, however at the current time it is more efficient to facilitate trade between existing clients. Over the past couple months, my job has primarily been obtaining and securing bitcoins. Only recently have I had any significant sell volume.

[phatsphere]

7k buy pushing to $80. then wall eaten in one large 1.5k bite. some more of that and i believe the upper trendchannel might get broken?

[just1nmc]

Quite a lot of buying going on. And the wall at $70 has doubled. Looks like there's going to be a lot of people left behind if this keep up

[Zomdifros]

According to Clark Moody a total of 2M BTC has been traded this week. The previous record was below 1M so this is certainly significant and could be an ATH which might hold for a very long time, if not forever.

On reddit there was an interesting analysis: http://www.reddit.com/r/Bitcoin/comments/1chtbu/highest_gox_trade_volume_ever_was_yesterday_april/

[Brushan]

Can it be possible that there are still alot of new buyers coming in but we haven't seen a significant price rise because there are alot of people still dumping BTCs? And if they stop dumping because they see the price stabilizing that we will quickly come up near pre-crash numbers?

[Jaques]

bitcoin botnets ... 

http://www.xombra.com/index.php?do=noticias&nota=6615&op=4&t=botnet-bitcoin-zeroaccess-prin

[just1nmc]

Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266 

[Brushan]

Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266 

But rising quickly!

[GreekGeek]

Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266 

But rising quickly!

~30 seconds lag on gox

[crazy_rabbit]

I think someone will dump at this price, but I'm okay with that. Lets stay in the $60-80 area for awhile and I can be happy.

[arruah]

First green box

[thoughtfan]

Just thought I'd add this one.  Apart from the week total volume trades mentioned above I would not have guessed without looking that every single day for the last seven was pink!  However I'd be impressed if the bears managed to turn today pink too.

[Ente]

Just thought I'd add this one.  Apart from the week total volume trades mentioned above I would not have guessed without looking that every single day for the last seven was pink!  However I'd be impressed if the bears managed to turn today pink too.

It was an awful sight indeed!
Happy about green, happy about the first warm sunny days here, my "long" on bitfinex is green too, life is good! :-)

Ente

[hannesnaude]

And record levels of fiat on the orderbook

[Piper67]

So today was supposed to be the day Gox switched the system and would only allow bids if the wallets were funded. Do we have any confirmation that this change has happened? How will we know?

[fitty]

Best dead cat bounce ever.