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

[OldGeek]

Even an 'unhealthy' correction (say down to 500) could be a good thing.  At that level many more people would/could buy in.  And, since we know that it has been to 1220 once, it is likely to go there again.

[alexeft]

Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.

Hey - it's no fees weekend, am I forgiven?

No need to confess. In the heart of every bull they know deeply this is highly overvalued. You just have the balls to admit it.

I have bowls!!!  

But I don't understand why the price is wrong so that it needs a correction!!!

Would anyone care to give a logical explanation?

You need to stop viewing the term correction as a negative thing, markets rally up, correct down, consolidate, trend sideways, break out. All of which are healthy behavior. If the price continued to rise every day without fail, how would bitcoin every be used for commerce? From now on when someone says 'expect a correction' think 'yisss!' because a healthy correction will lead to a healthier continual growth.

It's not the correction that I think of as negative. It's the predictions.     

[SheHadMANHands]

Even an 'unhealthy' correction (say down to 500) could be a good thing.  At that level many more people would/could buy in.  And, since we know that it has been to 1220 once, it is likely to go there again.

Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).

Of course, "never say never" in Bitcoin.  

[micalith]

pshsh. This is organised. It's only too many tabs when you can't see what they are. 40% of RAM still available

[OldGeek]

Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).

Of course, "never say never" in Bitcoin.  

It's obv that I agree with you.  Heh.  When I first bought (way, way, back in Sept lol)  I thought I had fallen for the old 'buy at the top' trick at $122.

[Vycid]

Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).

Of course, "never say never" in Bitcoin.  

It's obv that I agree with you.  Heh.  When I first bought (way, way, back in Sept lol)  I thought I had fallen for the old 'buy at the top' trick at $122.

I'm pretty jelly. I got most of my coins in April and my cost basis is probably not much better than $122 each.

Good timing 

[OldGeek]

Good timing 

Dumb luck.  I actually gave bitcoin a pass back in 2010.   

[windjc]

Ok guys - what's the REAL story with BTC-E??  I honestly haven't watched it closely until the last few days. But what is really going on there?  They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?

I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.

I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.

EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.

[Voodah]

Ok guys - what's the REAL story with BTC-E??  I honestly haven't watched it closely until the last few days. But what is really going on there?  They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?

I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.

I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.

EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.

It's 0.2% fees, not 2%.

[windjc]

Ok guys - what's the REAL story with BTC-E??  I honestly haven't watched it closely until the last few days. But what is really going on there?  They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?

I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.

I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.

EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.

It's 0.2% fees, not 2%.

Right. Typo on my part. But it doesn't matter. At .2% the bots wouldnt have any $$ left. There are literally 10,000s of bots trades on their everyday at minute quantities. But there is VERY little actual non-bot trading. Someone could go buy the price up to $1300 with a <500 BTC buy.

[windjc]

Ok guys - what's the REAL story with BTC-E??  I honestly haven't watched it closely until the last few days. But what is really going on there?  They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?

I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.

I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.

EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.

It's 0.2% fees, not 2%.

You trade on there. What is your opinion about what I am saying/seeing?

[explorer]

No need to confess. In the heart of every bull they know deeply this is highly overvalued. You just have the balls to admit it.

You're Crazy :p

[explorer]

Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.

Hey - it's no fees weekend, am I forgiven?

Honestly, I think you'll be lucky if we see triple digits again. I suspect a big 'crash' around 1500 but not sure it'll crash a third.

I am not looking for three figures - I just figure this weekend will go up and down like a yo-yo and I have buy-backs set in the upper to mid 1100s.

Just want more coins!

Thanks to people like you market sentiment is 1k+ and you're right.

Have to say, it's amazing how ew people realise it's about getting as many coins as possible rather than trying to make as much $ as possible. I think you have it spot on.

My new revision/prediction: anything below 10k is cheap.

The thing about 10k, is that it makes 100k reasonable.   

[windjc]

Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.

Hey - it's no fees weekend, am I forgiven?

Honestly, I think you'll be lucky if we see triple digits again. I suspect a big 'crash' around 1500 but not sure it'll crash a third.

I am not looking for three figures - I just figure this weekend will go up and down like a yo-yo and I have buy-backs set in the upper to mid 1100s.

Just want more coins!

Thanks to people like you market sentiment is 1k+ and you're right.

Have to say, it's amazing how ew people realise it's about getting as many coins as possible rather than trying to make as much $ as possible. I think you have it spot on.

My new revision/prediction: anything below 10k is cheap.

The thing about 10k, is that it makes 100k reasonable.   

Bitcoinity is moving to mBTC soon. Hopefully $1 makes $100 seem reasonable.

[Voodah]

Ok guys - what's the REAL story with BTC-E??  I honestly haven't watched it closely until the last few days. But what is really going on there?  They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?

I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.

I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.

EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.

It's 0.2% fees, not 2%.

You trade on there. What is your opinion about what I am saying/seeing?

Firstly, I do not trade that much. That said, I like to trade there because everything happens 5 or 10 seconds after it happens on Gox. If there is no big movement on Gox (or the current leading exchange), the guys and bots at btc-e are just happy trailing and alt-trading.

Another thing I am starting to like more and more is the fact that in Gox you're trying to predict whales. That's very hard and almost always sudden. It seems to me like trying to predict bot behaviour (positions are more clearly seen on the charts) in a trailing exchange is a LOT easier. But idk, that just might be how my mind works.

What I do now for sure, is that I've been far more successful trading at Btc-e than at Gox.

EDIT: forgot to say, bots in btc-e force constant minor movements, which don't really happen at stagnation in other exchanges. Most of my positions are played that way, get in and out quickly.

[OldGeek]

There are literally 10,000s of bots trades on their everyday at minute quantities.

I just took a quick peek but it looks similar to the bot trades at gox.

[kurious]

Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.

Hey - it's no fees weekend, am I forgiven?

Honestly, I think you'll be lucky if we see triple digits again. I suspect a big 'crash' around 1500 but not sure it'll crash a third.

I am not looking for three figures - I just figure this weekend will go up and down like a yo-yo and I have buy-backs set in the upper to mid 1100s.

Just want more coins!

Thanks to people like you market sentiment is 1k+ and you're right.

Have to say, it's amazing how ew people realise it's about getting as many coins as possible rather than trying to make as much $ as possible. I think you have it spot on.

My new revision/prediction: anything below 10k is cheap.

The thing about 10k, is that it makes 100k reasonable.   

Bitcoinity is moving to mBTC soon. Hopefully $1 makes $100 seem reasonable.

If that is so - it is good news - we are ling in the 1000+ USD world, up with the gold price, it is not something that seems affordable for 95% of the planet, a $1 (ish) mBTC will make a real difference, 'hey you can buy 10 mBTC for a few bucks, dude' will bring way more people in.

Which is both inclusive and furthers our interests.

[windjc]

There are literally 10,000s of bots trades on their everyday at minute quantities.

I just took a quick peek but it looks similar to the bot trades at gox.

Well, either EVERYONE at BTC-e plays with small hands or those are bots at a level much greater than Gox. I mean, at gox you see medium and large size trades all the time. Btc-e it just doesnt happen. Stamp you see medium and large size trades. At btc-e it doesnt happen. Look at the bid ask sum. Its none existent on both sides. There is almost no liquidity there. Although the overalll volume suggests that it is a healthy market.

You can move a helluva lot more LTC - theres liquidity in that market. But BTC, there is no liquidity. In fact, I would argue there is just as much or more liquidity at Bitfinex, even when it can't trade with Bitstamp.

[Voodah]

There are literally 10,000s of bots trades on their everyday at minute quantities.

I just took a quick peek but it looks similar to the bot trades at gox.

Well, either EVERYONE at BTC-e plays with small hands or those are bots at a level much greater than Gox. I mean, at gox you see medium and large size trades all the time. Btc-e it just doesnt happen. Stamp you see medium and large size trades. At btc-e it doesnt happen. Look at the bid ask sum. Its none existent on both sides. There is almost no liquidity there. Although the overalll volume suggests that it is a healthy market.

You can move a helluva lot more LTC - theres liquidity in that market. But BTC, there is no liquidity. In fact, I would argue there is just as much or more liquidity at Bitfinex, even when it can't trade with Bitstamp.

As soon as Gox starts big movement, things change in Btc-e: alts are dropped and BTC gets more liquid.

[OldGeek]

Sorry.  Wasn't arguing with you.  I looked for like a minute and saw the same small trades that I see on gox.