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

[notme]

This is how these "dumps" have me feeling lately...

Lol

[bitcoin carpenter]

so is Gox open for business again? got a messagae about them doubling SEPA withdrawals

also is it bullish or bearish news that they have 0 fees for the weekend

[Vycid]

This is how these "dumps" have me feeling lately...

Do you wish for it or do you see morpheus as bitcoin and neo as whale or bear?

I hope not but for others it will be good to get a lower entry point but i'm mor into holding.
I love holding things

The latter.

A crash (more like a deep correction, honestly) is inevitable sooner or later, but the dumps are getting more and more laughable, they're barely even denting the market.

[emanymton]

also is it bullish or bearish news that they have 0 fees for the weekend

both and neither

[Voodah]

Are SEPA withdrawals working on Gox??

Is anyone doing them regularly?

[bitcoin carpenter]

they just sent out an email about it, though i dont know if withdrawals are up and running yet.

was probably the cause of the last gox dip as a few people decided to cash some money out

[keewee]

That $million+ bid wall at 1150 is impressive. Genuine buyer? Or supporting the price? hmmm

genuine buyer  

Hmmm did someone just get lucky?  

Edit: selloff bottomed at 1150.3, guess not 

[OldGeek]

We now return you to your regularly scheduled program.

[pera]

so is Gox open for business again? got a messagae about them doubling SEPA withdrawals

also is it bullish or bearish news that they have 0 fees for the weekend

I love 0 fees, but for some reason gox is pretty quiet and stable except for those big drop... overall it's a bit boring, but it's easy to make some profits

[ChartBuddy]

[hyphymikey]

they just sent out an email about it, though i dont know if withdrawals are up and running yet.

was probably the cause of the last gox dip as a few people decided to cash some money out

I got that email 2 days ago.... They must be sending them out in groups

[OldGeek]

I always wonder what possesses someone to dump like that.  If they wanted profits they could have bled it into the buyers a little at a time and made more $, although on a slightly longer time frame. 

Unless they are plumb dumb and thought it would change the market sentiment.  ::shrug::

[hmmmstrange]

That $million+ bid wall at 1150 is impressive. Genuine buyer? Or supporting the price? hmmm

genuine buyer  

Hmmm did someone just get lucky?  

Edit: selloff bottomed at 1150.3, guess not 

Must suck to see all your coins you threw away sitting above $1250.

[justusranvier]

I always wonder what possesses someone to dump like that.  If they wanted profits they could have bled it into the buyers a little at a time and made more $, although on a slightly longer time frame. 

Unless they are plumb dumb and thought it would change the market sentiment.  ::shrug::

What if it was BitPay or something similar?

[gambitv]

Those without bitcoin...



Those with bitcoin...

[OldGeek]

What if it was BitPay or something similar?

Yeah.  Didn't think it thru.

[Kj1]

noticed a pattern, just before the april correction, there was a huge LTC pump. (from .05 to .5 in 2 days).
Then a steady selloff; like one increased their btc stash significantly.
After huge LTC dumps at higher prices, the selloffs at gox started (like one day later).

Now, LTC was pumped from .08 to .5, now steadily dropping with huge (several times >5K btc) selloffs.
Pattern? Bad sign?  Or just coincidence?

It looks logical to increase your BTC amount by playing altcoins, if you have a decent amount of btc you can really manipulate the altcoin market. Then cash out the profit using btc (gox), causing a drop and hopefully a panic sell.  Then buy back low.  I guess you'd be able to make at least x10 using this in a few days, if you are lucky and have the balls.  Anyway, by only gambling with profit from the altcoins the gambler doens't risk anything...
 

[traderCJ]

With the announcement that gox and possibly coinbase is accepting litecoin trading. Do you think altcoins are going to affect bitcoin negatively? I mean people looking to get rich quickly would probably rather buy the cheaper coin than bitcoin. This is going to get complex.

Oh noes. Competition!

Do you think the prevalence of silver, platinum and paladium on the PM market puts upward or downward pressure on gold?  Instead of having only a "gold" market, you now have a "precious metals" market.  Here, you transition from a Bitcoin market to a cryptocurrency market.  It wouldn't surprise me if the rise of alt-coins actually attracts more investors than would have otherwise put their money into Bitcoins only.  There are some newcomers who simply do not like Bitcoin for whatever reason, but may be lured in with an alt-coin ("this one's cheaper", "this one has <some feature>", etc).  Eventually, they will buy some Bitcoin to hedge their bets.  Alt-coins could very well become a gateway drug ..

[Vycid]

noticed a pattern, just before the april correction, there was a huge LTC pump. (from .05 to .5 in 2 days).
Then a steady selloff; like one increased their btc stash significantly.
After huge LTC dumps at higher prices, the selloffs at gox started (like one day later).

Now, LTC was pumped from .08 to .5, now steadily dropping with huge (several times >5K btc) selloffs.
Pattern? Bad sign?  Or just coincidence?

It looks logical to increase your BTC amount by playing altcoins, if you have a decent amount of btc you can really manipulate the altcoin market. Then cash out the profit using btc (gox), causing a drop and hopefully a panic sell.  Then buy back low.  I guess you'd be able to make at least x10 using this in a few days, if you are lucky and have the balls.  Anyway, by only gambling with profit from the altcoins the gambler doens't risk anything...
 

Gambling with profit doesn't amount to "not risking anything", that's silly.

Anyway, I think the manipulation thing is overblown. If one player could crash the market to get cheap coins, that would have happened already. April happened because we all got goxxed.

The wise trader waits for cheap alts and holds until he can flip them for a profit. Only idiots are piling in right now, it's nothing but gambling - and don't be fooled, there IS a house (BTC-e takes a cut, and so do the algo-traders and manipulators). I'll be taking another look at LTC when it's back below 0.01.

[gandhibt]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

Would it be overly optimistic to call 10k in 2014 (at least as probable)?

10k in 2014.   

Assuming we don't go to zero, of course..

It would be optimistic to say that one coin will be worth 10k USD in 2013. One coin will be... naah I don't go there But It's possible ofc, we just have to stare logcharts.