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

[beaconpcguru]

Its funny how the ATH is stated on the books as far as funds go... How many people do you think sold in this range and how much money was made and subsequently re-bidded?  5 million dollars more appeared after some decided to sell.  So where do you think the money went from the coins sold?  Sure some may be tied up in postponed wire transfers and some more re-bought.  Some just leave it sitting in their accounts and the rest... well, I feel its pretty confident to say its sitting right there on the order books.  Almost 14,000 coins dropped continuously in a row in an hour long period after the all time high means atleast 11,200,000$ .. order book was at 25 million before hand and now is around 34 million.  The numbers make sense well anyway.. to follow the consensus.. we're off to Alpha Centari, but don't worry we'll come back to visit.

[1714661050]

1714661050

[1714661050]

1714661050

[jl2012]

Check http://blockchained.com/ , there is ATH amount of fiat on gox at 35MUSD. Only about 24MUSD was there during the April peak. So these money are pretty sure to be new money, not stucked goxbux

At the same time, only 27.5kXBT is for sale. Dividing 35M with 27.5k you have 1273USD/XBT

After a big bout of selling at record highs, there's a record sum of USD on gox books? That doesn't sound like new money to me.

Uh, that money had to come from somewhere . . .   Even if all the money on the order book is from sold bitcoins, which it is of course not, the bitcoins that were sold had to be bought by someone with new money . . .   Slightly simplified, but you get the idea.   Do people even think before they say things these days?

Unless that was short-selling by gox, which I don't think it's likely (If so, they should have closed the position with huge profit)

[bitcoinbible]

https://i.imgur.com/kwpLtS6.png

Nothing to see here.

i'm not usually a trend follower, but i see a trend forming here coupled with growing demand^^^  

[CryptStorm]

...
http://www.cryptocoincharts.info/

Woh, thanks!!! 

[rebuilder]

Uh, that money had to come from somewhere . . .   Even if all the money on the order book is from sold bitcoins, which it is of course not, the bitcoins that were sold had to be bought by someone with new money . . .   Slightly simplified, but you get the idea.   Do people even think before they say things these days?

You're right, I guess some sleep here would help. The only way this would be old money is if there was a lot of USD sitting on gox off the orderbooks, waiting for a crash.

[bitcoinbible]

Uh, that money had to come from somewhere . . .   Even if all the money on the order book is from sold bitcoins, which it is of course not, the bitcoins that were sold had to be bought by someone with new money . . .   Slightly simplified, but you get the idea.   Do people even think before they say things these days?

You're right, I guess some sleep here would help. The only way this would be old money is if there was a lot of USD sitting on gox off the orderbooks, waiting for a crash.

damn forex players foiled my plans to take it back to pennies lol 

[hmmmstrange]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

[tHash]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

We could name them like hurricanes, starting with the letter A and alternating male/female.   We could even assign categories to them based the amplitude of the spike.   

[Davyd05]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

[ChartBuddy]

[tHash]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

I think we just call overshoot/corrections "bubbles" now.   Even April looks nothing like a bubble if you look at the long term charts.

[David M]

If you think this is a healthy precursor to a bull run, be my guest, but don't say I didn't warn you.

In fact the tape has been painted all the way up. Just go with the flow. There's no exuberance here, just a dream of what might have been.

Can you tell me when the bear markets finished please? Because I can't see were it started....

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgCza1gWMAzm1g13zm2g25

[theonewhowaskazu]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

If we count this as the third bubble, that makes it Bubble Calvin.

In Honor Of Bubble Calvin.

[Davyd05]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

I think we just call overshoot/corrections "bubbles" now.   Even April looks nothing like a bubble if you look at the long term charts.

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been much larger in impact on peoples holdings.                                
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

[David M]

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been a much larger in impact on people holdings.                                
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

Aren't you assuming that the participant is buying the high and selling the low?  I have yet to meet someone with that much bad luck.

Let's look at the weekly closes of April:

April 1: $142.63
April 8: $93 (It hit $266 & $50)
April 15: $126
April: 22: $128
April 29: $112

That's not too much of a blood bath....

My point is that due to the volatility of Bitcoin, intra-day traders are going to get buried, while the weekly/monthly traders clean up.

[tHash]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

I think we just call overshoot/corrections "bubbles" now.   Even April looks nothing like a bubble if you look at the long term charts.

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been a much larger in impact on people holdings.                                
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

Not sure why you would insult . . . That is not cool at all.   I was actually supporting your comment, saying we did not have a bubble pop at all.

[explorer]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

I think we just call overshoot/corrections "bubbles" now.   Even April looks nothing like a bubble if you look at the long term charts.

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been much larger in impact on peoples holdings.                               
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

and if you waited 3 days you didn't really lose anything. CryptoMinter's little photoshop is a lovely picture of what happened if you blinked a couple times.

[Le Happy Merchant]

Nothing to see here.

I vote for this.

[farfiman]

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been much larger in impact on peoples holdings.                                
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

But even if you have the worse luck - bought at the top of the previous  bubble - 266$ and sold a the bottom of this one -414$  -  you are up 56%  !

[Davyd05]

Since it is clear we are likely to have more then one bubble a year now, I think it is prudent that we start naming them. Appending the year as the prefix of the bubble just doesn't cut it anymore.

where is this second bubble you speak of?

I think we just call overshoot/corrections "bubbles" now.   Even April looks nothing like a bubble if you look at the long term charts.

I wanted to start with an insult but that serves zero purpose..crash in april.. from 266 to 50 will say.. = .188 = it shrunk too 18.8% of its value. The recent correction this week from 900 to 414 = .46 = it shrunk by 46% or half its value.. The april crash would have been a much larger in impact on people holdings.                                
I realize I am basing this on opinion and some reading.. but.. you invest 10k in april you lost 82% of what you invested that same 10k last week you only lost 44%.

Not sure why you would insult . . . That is not cool at all.   I was actually supporting your comment, saying we did not have a bubble pop at all.

Agreed hence I didn't but I felt I deserved to be punished for thinking it in the first place.

My comments wasn't trying to relate equating to buy and hold vs day trading ..it was just buying at a peak, thinking its going to the moon and witnessing a crash or corrections.. April was way more severe, not saying that 46%  isn't gonna hurt like a punch to the groin also everyone at the 266 is in the money now anyway pointed out in the comments above..and those who lost 44% at the high of last week are seeing the percentage of change reverse towards a positive number.

I am just saying if we'd experienced an April like crash... we'd be in ...the 160s I also think with a crash comes extreme caution in the markets.. which as of today were seeing confidence.

I just hate hearing/seeing the world B _ _ _ _ _and C _ _ _ _ every ten seconds