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

[Wekkel]

Price isn't moving because everyone's busy pumping alt-coins.
 

I personally learned a lot in the last 36 hours regarding the crypto market and how it reacts to rallys in Bitcoin. I completely missed the boat with this most recent alt rally. And now that it has happened it seems so absolutely obvious to me.  

Altcoins are difficult. The price is volatile and the market thin. Look at the bids/asks around $20 for LTC. How do you expect to cash out of 7,000 LTC without disrupting the market? It's no joy working high numbers with altcos.

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[bitboyben]

There goes bitstamp, taking out another ATH.   

yay now I can go to sleep!

[Parazyd]

So are we hitting that milestone this week on Bitstamp? 

[NUFCrichard]

Price isn't moving because everyone's busy pumping alt-coins.
 

I personally learned a lot in the last 36 hours regarding the crypto market and how it reacts to rallys in Bitcoin. I completely missed the boat with this most recent alt rally. And now that it has happened it seems so absolutely obvious to me.  

Altcoins are difficult. The price is volatile and the market thin. Look at the bids/asks around $20 for LTC. How do you expect to cash out of 7,000 LTC without disrupting the market? It's no joy working high numbers with altcos.

If you drip feed it on a big exchange you will get out easily.  I agree that banging them all at one price, or putting in a market order is a bad idea, but 7000 is very withdrawable.  You could also split it between fiat and BTC withdraw if you urgently need to withdraw.

[DaRude]

Bitstamp needs to pull up a bit, people need to reload at gox and get that warm feeling that stamp got their backs (and not trailing $100 behind) and start climbing to $1k of course the dragon would help too but they're doing they're own thing

[ChartBuddy]

[Rampion]

some large buyings at bitstamp, but still pretty walled by that 1500 btc guy

as long as he remains sitting there, bitstamp won't follow gox

whales creating arb lol

You know, we kind of decided that $900 is the cap for now.

I know.

[windjc]

Looks like this market wants to consolidate some more before tackling this psychological resistance. Which is pretty bullish. 

The longer we sit here, the more forceful the explosions going to be.

I'm curious to see how long this new consolidation lasts. 6 hours? 3 days?

[philip2000uk]

Looks like this market wants to consolidate some more before tackling this psychological resistance. Which is pretty bullish. 

The longer we sit here, the more forceful the explosions going to be.

I'm curious to see how long this new consolidation lasts. 6 hours? 3 days?

Christmas 

[windjc]

Some idiot is selling at market on Stamp.  Either trying to cause a crash on an exchange that's not leading (stupid) or throwing money away by not letting the tide come to him (stupid).

Not sure why someone would do that. Its pretty damn easy to get your limit sell order filled by just picking a # and sitting it there.

I personally hope he just sold all his coins and buys back at $1600.

[thoughtfan]

Some idiot is selling at market on Stamp.  Either trying to cause a crash on an exchange that's not leading (stupid) or throwing money away by not letting the tide come to him (stupid).

Not sure why someone would do that. Its pretty damn easy to get your limit sell order filled by just picking a # and sitting it there.

I personally hope he just sold all his coins and buys back at $1600.

Because not everyone believes the market is going to behave as you believe it will.  It is 'pretty damn easy' for as long as the market stays approximately where it is or moves up.  Despite your (and my) belief that it is most likely to go up from here (even if it goes down significantly first) there is a possibility this is the highest it will ever get(or the highest it will get for the timescale during which the seller needs to or wants to recover some fiat), in which case this dude selling as he is is taking a rational action.

Excuse my rant and wish for the extremely unlikely but I would so like if people learned to step out of their own paradigms and stop namecalling everyone who does not see the world as they do!

[rpietila]

Perhaps he just needs to sell. Stamps liquidity is so friggin anemic that I just quit today's selling plan without selling any coins. I am not the only one willing to sell at these prices.

[windjc]

Perhaps he just needs to sell. Stamps liquidity is so friggin anemic that I just quit today's selling plan without selling any coins. I am not the only one willing to sell at these prices.

The selling plan you have outlined numerous times on this forum, doesn't include selling at Bitstamp at $925.

[windjc]

Some idiot is selling at market on Stamp.  Either trying to cause a crash on an exchange that's not leading (stupid) or throwing money away by not letting the tide come to him (stupid).

Not sure why someone would do that. Its pretty damn easy to get your limit sell order filled by just picking a # and sitting it there.

I personally hope he just sold all his coins and buys back at $1600.

Because not everyone believes the market is going to behave as you believe it will.  It is 'pretty damn easy' for as long as the market stays approximately where it is or moves up.  Despite your (and my) belief that it is most likely to go up from here (even if it goes down significantly first) there is a possibility this is the highest it will ever get(or the highest it will get for the timescale during which the seller needs to or wants to recover some fiat), in which case this dude selling as he is is taking a rational action.

Excuse my rant and wish for the extremely unlikely but I would so like if people learned to step out of their own paradigms and stop namecalling everyone who does not see the world as they do!

I didn't name call anyone. I said he was stupid to do that, in my opinion.

I doubt he just woke up and needed the profits. But maybe so. I just doubt it.

AND I do not think any technical trader (no, not someone with points on a log chart) would look at this market and say its not going to a $1000, but its going to crash in the next hour instead, which is about as long as it would have taken him to get his limit order filled.

Of course, not everyone thinks its going to go up. But, his actions scream "fear" to me.

[thoughtfan]

I didn't name call anyone. I said he was stupid to do that, in my opinion.

True, apologies.

[vokain]

[Rampion]

Be cheerful guys, we just came out from a parabolic growth phase unharmed and without a bear market following a pop. On the contrary, we resumed a healthy upswing at a sustainable pace.

Now we need the infrastructure to catch up. Bitstamp and Gox cannot manage world exposure. I never thought I would say this, but best thing would be a big player buying Gox to build a serious and solid exchange.

[ChartBuddy]

[Davyd05]

Be cheerful guys, we just came out from a parabolic growth phase unharmed and without a bear market following a pop. On the contrary, we resumed a healthy upswing at a sustainable pace.

Now we need the infrastructure to catch up. Bitstamp and Gox cannot manage world exposure. I never thought I would say this, but best thing would be a big player buying Gox to build a serious and solid exchange.

how can I be cheerful..I want cheaper coins lol

no..lie I got my transfer the day after it shoots up a $180 from .. the 750-800 range.. Le Sad.. 2 nd time in a row ..I should probably make the bill payment now.

[solex]

Be cheerful guys, we just came out from a parabolic growth phase unharmed and without a bear market following a pop. On the contrary, we resumed a healthy upswing at a sustainable pace.

Now we need the infrastructure to catch up. Bitstamp and Gox cannot manage world exposure. I never thought I would say this, but best thing would be a big player buying Gox to build a serious and solid exchange.

Calling WU.