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

[accord01]

ROFL @ 2nd market investors and winkelvi investors..... by the time winklevoss etf is approved, bitcoin wont even exist anymore.... muahahahhaa

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[seriouscoin]

Technically we look much better off now than 3 days ago.

Technicals, schmechnicals.  This is 100% mass psychology.

Discuss.

Hehe I've basically called this drop exactly how it's happened using technicals. If you want to trade using mass psychology be my guest. If you want to sell some coins to me now I'll buy them.

Discuss.

Oh really, your technicals indicated Chinese regulations inbound?  Go sell your bullshit somewhere else.

Discuss.

Drop was about to happen to be honest, China news just made it happen faster and maybe on the bigger scale.

Completely disagree. Dont be so naive and lie to yourself ,

[accord01]

LTC down from $60 to 10 and going back down to 50 cents ROFLLL

[600watt]

fuck trolls... $870 by xmas 

still possible. mind the rebound 

[seriouscoin]

BTCChina CEO saying that no deposits is not official stand but third payment one's.

http://video.cnbc.com/gallery/?video=3000229171&__source=yahoo

And you really believe that? Anyone i mean ANY competent person would know wealth transfer is a big issue with China.... I mean.... fcking come on. Like Bobby is a retard or something.

[seleme]

Technically we look much better off now than 3 days ago.

Technicals, schmechnicals.  This is 100% mass psychology.

Discuss.

Hehe I've basically called this drop exactly how it's happened using technicals. If you want to trade using mass psychology be my guest. If you want to sell some coins to me now I'll buy them.

Discuss.

Oh really, your technicals indicated Chinese regulations inbound?  Go sell your bullshit somewhere else.

Discuss.

Drop was about to happen to be honest, China news just made it happen faster and maybe on the bigger scale.

Completely disagree. Dont be so naive and lie to yourself ,

No, I don't lie to myself. I was occasionally shorting coins for like last 2 weeks. Got bit burned one though when it bounced against my position but I was definitely expecting drop to 500-550 and was mostly in fiat for longer than that. Not as long as I should though so my profit won't be as big as it could and should.

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

And btw, you should take some rest, sleep a bit or something, you're becoming too nervous, not good, specially if you are trading.

[pickard]

This is just how I see it.  I could and I probably am wrong, but this is what I have in my mind, for the short term future.

Agreed.  We are about to move back down.  I expect a new low.

lol, new low is correct. but rather a new low of your btc holdings.

(those of you who did sell above 900  )

I hope you sold finally

[JorgeStolfi]

If you buy 100k USD in BTC, and by next April 15 these are worth 1 million USD, will you have to pay ~300k USD to the IRS?

Does it matter whether the IRS considers Bitcoin a "stock" or a "foreign currency"?

[Sitarow]

BTCChina


BitStamp


MtGox

[spooderman]

great, now we have to hear from RP again. It would have been worth buying coins and keeping the price high just to get rid of him.

[ChefBorjan]

Why does the price of LTC/BTC also tank during this? Is it because if you lose faith in BTC (with the BTC/USD price crashing) you loose even more faith in alts?

[ajax3592]

This is just how I see it.  I could and I probably am wrong, but this is what I have in my mind, for the short term future.

Agreed.  We are about to move back down.  I expect a new low.

lol, new low is correct. but rather a new low of your btc holdings.

(those of you who did sell above 900  )

I hope you sold finally

$350 is the bottom, chart seems correct,
$375 on CNY already, other exchanges to follow soon
The biggest BTC exchange got closed, that means something.

[hlynur]

can't stop looking at this pie: http://bitcoincharts.com/charts/volumepie/

and thinking about the fact that chinese have time until 31 Jan to withdraw fiat from their exchanges...(what happens after that date...nobody knows)
i suppose this bear party is just starting...
even if chinese volume is highly distorted by the 0% fee on btcchina (and foreign traders there) market needs time to recover from loosing a big amount of constant money flow.
on top we have christmas holidays, lots of people & merchants probably spending/liquidating some of their coins...

looks like growing a shortterm winter fur during these cold times is not the worst idea...

[NewLiberty]

It is all just luck, remember. Nobody can predict the future.  

Too modest.
Nicely played.

[seleme]

Why does the price of LTC/BTC also tank during this? Is it because if you lose faith in BTC (with the BTC/USD price crashing) you loose even more faith in alts?

LTC is tied with BTC pretty much always since March (bar a short period of 2-3 weeks below it's huge rise recently).

Most coins are now tied with BTC unfortunately, and that's something new. They were usually going in opposite direction of btc and that's where big money could be made.

[traderCJ]

Why does the price of LTC/BTC also tank during this? Is it because if you lose faith in BTC (with the BTC/USD price crashing) you loose even more faith in alts?

LTC is tied with BTC pretty much always since March (bar a short period of 2-3 weeks below it's huge rise recently).

Most coins are now tied with BTC unfortunately, and that's something new. They were usually going in opposite direction of btc and that's where big money could be made.

Yeah, an unfortunate trend.  I was hoping the alt coins could be used as a hedge against BTC :/

[seleme]

Why does the price of LTC/BTC also tank during this? Is it because if you lose faith in BTC (with the BTC/USD price crashing) you loose even more faith in alts?

LTC is tied with BTC pretty much always since March (bar a short period of 2-3 weeks below it's huge rise recently).

Most coins are now tied with BTC unfortunately, and that's something new. They were usually going in opposite direction of btc and that's where big money could be made.

Yeah, an unfortunate trend.  I was hoping the alt coins could be used as a hedge against BTC :/

They still could but not on the range they used to be.

[Sitarow]

[Rampion]

I wish it was a simple crash though, those are not making people to scream "Bitcoin is dead" like it is now the case.

Why? The crashes that make people scream "Bitcoin is dead" are the best crashes. More people screams "Bitcoin is dead", the bigger is the buying opportunity.

I hope the US follows China and "ban" bitcoin soon. I'm one of those who thinks that its pretty much unavoidable at some point, and in fact I'm surprised that it hasn't happened yet.

This game is played in the long run. Anxious to be a multi-millionaire? Then probably you will sell too soon. Ask yourself if you are into this only for the fiat profits - if the answer is yes probably you are into a game that is too risky. If the answer is no, the ban on Bitcoin is just a step needed for it to demonstrate that it is really the resilient, de-centralized currency that will change the world.

If you have been in the game for a few months, I hope you already secured some profits by selling a few coins at a rationally-decided target. If you just entered the game, just hold - we will see where we are in a couple of years.

Grabbing popcorn. Sending fiat to exchanges. Enjoy, gents.
            

[JorgeStolfi]

BTC-China is now well below 2530 CNY, 1/3 of its peak value (7600 CNY)