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

[ChartBuddy]

[1715120379]

1715120379

[1715120379]

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[1715120379]

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[barbs]

what. is. going. on. at. gox.

love their email "we would have liked to communicate more"

"i would have liked to not punch you in the face and take your lunch money"

[tarmi]

what. is. going. on. at. gox.

love their email "we would have liked to communicate more"

?

I left them last summer. what is going on?

are they broke or something?

[ChartBuddy]

[macsga]

A.  Incredibly bullish news spurns the market upward suddenly forcing the money on the sidelines back in causing a new huge rally.  

B. The market consolidates where it is (around $900) for 1-4/5 weeks. This would be the most bullish scenario and would be similar to the consolidation around $120-$130 a few months ago.

C. The market ebbs sideways and downward over the holidays as the holiday season wins the news cycles and people hold off on investing and sending more funds to markets.  In this scenario, we DO NOT reach another low past the $600ish already established. This would be very similar to the April rally where people expected it to test the low of $50s but it only got to $66, because everyone wanted to buy low.

I think C is most likely given the holidays. We will trend sideways to down, we will start a slow upswing sometime before $600. Somewhere from Dec. 30th to Jan. 31st that upswing will gain momentum and by sometime in February we will be in full fledge rally mode again. I also think this scenario could happen before February as well.

I really think (and hope) that the 2nd scenario is the most probable. Anyway I'm not giving up my coins even if the price falls lower than 600. I believe that most here think the same way even if they are partialy BTC/Fiat.

[crazy_rabbit]

Someone wanna summarise the last 40 pages for us europeans?

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Whats TA?

[aazssx]

Someone wanna summarise the last 40 pages for us europeans?

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Whats TA?

Throbbing Anus

[Rannasha]

Someone wanna summarise the last 40 pages for us europeans?

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Whats TA?

Chart astrology.

[TheKoziTwo]

We are in a full bull market now and wishful thinking won't change a thing. Expect the price to go up for a long while (except the bounces here and there).

[seleme]

I seriously can't believe people are still trading on MtGox.

[spooderman]

Someone wanna summarise the last 40 pages for us europeans?

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Whats TA?

Talking out of their Arse, its those charts with the squiggly line folks put up to show the clear co-relations between rainfall in Kenya and weekend dips and stuff, last one proved we're in a downtrend with a diagram of the 3 titted hooker from total recall.

lol. There are patterns that do hold though. Look at the last 4 months or so. Pretty much every sunday there is a big dump.

[dani]

Someone wanna summarise the last 40 pages for us europeans?

Lots and lots of coincidences, gox ddos'd into a go slow, China becomes invisible to westerners, terribly scary looking dumps, forum disappears, perfectly normal stuff in bitcoinland. That's a steady downtrend on the charts btw, it may look like its been kicked around by an adolescent whale-bear mutant but its really a steady downtrend. Trust us, we have TA

Whats TA?

Talking out of their Arse, its those charts with the squiggly line folks put up to show the clear co-relations between rainfall in Kenya and weekend dips and stuff, last one proved we're in a downtrend with a diagram of the 3 titted hooker from total recall.

lol. There are patterns that do hold though. Look at the last 4 months or so. Pretty much every sunday there is a big dump.

or saturday, or monday, or wednesday.. Yeah 

[windjc]

We are in a full bear market now and wishful thinking won't change a thing. Expect the price to go down for a long while (except the bounces here and there).

The best you can hope for is a sideways to downward movement lasting 2-6 weeks, but never going below $600. Thats best case scenario for you.

Money is flowing into the exchanges and massive amounts are accumulating on the sidelines.  When the market starts to go up again (after its found the new bottom its searching for now) that money is going to be forced back into the market and ATHs will be days away at that point.

[Apostata]

We are in a full bear market now and wishful thinking won't change a thing. Expect the price to go down for a long while (except the bounces here and there).

Do you really think the whales who have put millions into BTC over the past few weeks are going to just stand by and let their investment dwindle?  Especially since all they have to do is buy more to lift the prices back up again. 

Everyone is just waiting for that rock bottom price to buy more BTC.  This is a healthy consolidation for BTC.

[TheKoziTwo]

I seriously can't believe people are still trading on MtGox.

I use mtgox because I don't trust any other entity with much of my funds. We've seen many exchanges come and go (bitcoin24,bitcoin7,tradehill,bitparking etc) but mtgox has been here all the time.

Mtgox also has the highest price (and much volume/depth) and I am able to withdraw euro (or simply wait for price to equal any other exchange which happens occasionally). If I'm going to sell, it makes sense to sell for the highest price I can get.

In conclusion I like gox, and I feel that my funds are safe with them.

Goxxing doesn't bother me so much, yes it can be annoying, but trust is more important for me (but i don't trade a lot anyways). I think btc-e is great, low fees, many trading opportunities, but I don't trust them as much (or more precise I'm fearing that they will eventually be targeted by law enforcement).

[Apostata]

I seriously can't believe people are still trading on MtGox.

I use mtgox because I don't trust any other entity with much of my funds. We've seen many exchanges come and go (bitcoin24,bitcoin7,tradehill,bitparking etc) but mtgox has been here all the time.

Mtgox also has the highest price (and much volume/depth) and I am able to withdraw euro (or simply wait for price to equal any other exchange which happens occasionally). If I'm going to sell, it makes sense to sell for the highest price I can get.

In conclusion I like gox, and I feel that my funds are safe with them.

Goxxing doesn't bother me so much, yes it can be annoying, but trust is more important for me (but i don't trade a lot anyways). I think btc-e is great, low fees, many trading opportunities, but I don't trust them as much (or more precise I'm fearing that they will eventually be targeted by law enforcement).

And correct me if I'm wrong, but Japanese and Polish account holders don't have delays when withdrawing from MtGox, no?  Isn't it just the US and other parts of Europe?

[traderCJ]

After studying these markets daily, I believe I have a pretty good pulse on where things are going. Here are my 2 cents currently.

There is a groundswell of buying pressure sitting off to the sidelines and its growing. Its growing for 2 reasons. First, most traders are not 100% bitcoin at the moment. Just look on this mostly bullish forum. Most of us are partly fiat right now. We have $$$ sitting on the sidelines. Second,
there is a lot of new money coming into the exchanges that are not buying right away. That is why the bid sum is increasing. People want to invest, but do not necessarily want to invest if the price is going to go lower.

So every possible mid term scenario (minus a catastrophic one, which always exists) has one final result - an strong upswing in which the money is forced to come back into the market. This will eventually cause another large rally. To where, I do not know. But it is coming.

I think there are 3 near/mid term scenarios. I will list them most unlikely to most likely.

A.  Incredibly bullish news spurns the market upward suddenly forcing the money on the sidelines back in causing a new huge rally.  

B. The market consolidates where it is (around $900) for 1-4/5 weeks. This would be the most bullish scenario and would be similar to the consolidation around $120-$130 a few months ago.

C. The market ebbs sideways and downward over the holidays as the holiday season wins the news cycles and people hold off on investing and sending more funds to markets.  In this scenario, we DO NOT reach another low past the $600ish already established. This would be very similar to the April rally where people expected it to test the low of $50s but it only got to $66, because everyone wanted to buy low.

I think C is most likely given the holidays. We will trend sideways to down, we will start a slow upswing sometime before $600. Somewhere from Dec. 30th to Jan. 31st that upswing will gain momentum and by sometime in February we will be in full fledge rally mode again. I also think this scenario could happen before February as well.

I agree with everything here, however I believe we'll bounce between $800-900 for the new few weeks.  When the new year begins, I expect a serious rise.  Perhaps $2k by February even.  We'll see.

[Vycid]

I seriously can't believe people are still trading on MtGox.

I use mtgox because I don't trust any other entity with much of my funds. We've seen many exchanges come and go (bitcoin24,bitcoin7,tradehill,bitparking etc) but mtgox has been here all the time.

Mtgox also has the highest price (and much volume/depth) and I am able to withdraw euro (or simply wait for price to equal any other exchange which happens occasionally). If I'm going to sell, it makes sense to sell for the highest price I can get.

In conclusion I like gox, and I feel that my funds are safe with them.

Goxxing doesn't bother me so much, yes it can be annoying, but trust is more important for me (but i don't trade a lot anyways). I think btc-e is great, low fees, many trading opportunities, but I don't trust them as much (or more precise I'm fearing that they will eventually be targeted by law enforcement).

It's time to start trusting Bitstamp. They've been around.

[gandhibt]

I seriously can't believe people are still trading on MtGox.

I use mtgox because I don't trust any other entity with much of my funds. We've seen many exchanges come and go (bitcoin24,bitcoin7,tradehill,bitparking etc) but mtgox has been here all the time.

Mtgox also has the highest price (and much volume/depth) and I am able to withdraw euro (or simply wait for price to equal any other exchange which happens occasionally). If I'm going to sell, it makes sense to sell for the highest price I can get.

In conclusion I like gox, and I feel that my funds are safe with them.

Goxxing doesn't bother me so much, yes it can be annoying, but trust is more important for me (but i don't trade a lot anyways). I think btc-e is great, low fees, many trading opportunities, but I don't trust them as much (or more precise I'm fearing that they will eventually be targeted by law enforcement).

How can you trust gox? How many times they have promised to do something and then just not done it? Only thing they have done is to be there, but that's only because people are willing to pay that outrageous fee and doesn't mind that they are ass raped in every major movement, Mark is doing a lot of money.

[gandhibt]

Pietila should read about KISS strategy.

As long as we are above halfway of last rise ($650 stamp) and longer we are above there, it's bullish and we're probably preparing for major up move. Bitstamp has nearly ath bid sum too?

Pietila has so much coins, so maybe he wants too much to buy that silly castle and that's clouding hes judgment. This is ofc a good thing because this is how whales give those coins to us.