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Question: What happens next?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21434534 times)
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samson
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May 09, 2013, 09:50:42 PM
 #6581

But I was too pessimistic. I still think we can go quite lower short term, but I'm now pretty much convinced that $50 was the real bottom. In my book, thats quite bullish - heck, we where at $14 at the beginning of this year

People seem to be forgetting that you could buy thousands of Bitcoin for $15 each only four months ago.

Are they really worth $113 or more right now ?

Nobody seems to think so or they would not be sitting on the orderbook remaining unsold for days.
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May 09, 2013, 09:51:40 PM
 #6582

I'm really enjoying the price stability the past few days.  If it continues I do think it will be quite good for bitcoin adoption.  As the market is typically extremely volitile it does make me think that there are people who are creating the stability intentionally.  If so, keep up the good work.  Do others think this as well?

To me, the enthusiastic crowds of new bitcoin buyers are missing. Bargain-hunting buyers are more cautious about buying above these levels. Caution facilitates patience.

But should prices slowly slump, or perhaps simply not rise, then I believe there will be another leg down testing $80. In a collapsing bubble, price trend bias is downwards.

Not a bad outcome. Everything above $50 feels bullish to me. IMO there is a lot of real economy to be built around Bitcoin, and it has to be much easier to buy and trade before prime time
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May 09, 2013, 09:53:44 PM
 #6583

No, I wasn't defending TA with this, simply pointing out that "they'd be rich and they wouldn't be on here making charts" wasn't exactly true.
(With a tongue-in-cheek, I must admit.)

Edit: I saw the potential, but I was also too entrenched to recognize the possibility of a bear market. Now at least I'm sitting on the fence.

I know a lot of people who wish they could go back to 2011 and be entrenched with you. Those $2-$10 coins sure look good right about now. I have a couple of friends who wouldn't sell a single BTC they mined even though they spent 10k+ on hardware (with $2000-$3000 a month in electric bills). I thought they were crazy. Turns out a little passion, belief, some smarts and a willingness to stick to your guns sure pays off. Back in 2011 if you even said BTC would be worth $100 one day you'd be laughed off the forum. Most of us weren't sure this would be around month to month let alone years. There were some brutal hacks/crashes/scams that were some rough growing pains.
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May 09, 2013, 09:56:10 PM
 #6584

But I was too pessimistic. I still think we can go quite lower short term, but I'm now pretty much convinced that $50 was the real bottom. In my book, thats quite bullish - heck, we where at $14 at the beginning of this year

People seem to be forgetting that you could buy thousands of Bitcoin for $15 each only four months ago.

Are they really worth $113 or more right now ?

Nobody seems to think so or they would not be sitting on the orderbook remaining unsold for days.


There's +170k BTC on the selling book. If sellers believed they were worth less than $113, they would be selling.
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May 09, 2013, 09:56:25 PM
 #6585

1000 BTC sold . Price didn't move much.

I think there is plenty more where that came from.

enough to satisfy demand?

That's the point. I say yes, ATM. I'm sure you agree

yes i agree

it will go up!

wait a minute...

omg SELL SELL SELL!!!!!  Grin

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May 09, 2013, 09:59:34 PM
 #6586

There's +170k BTC on the selling book. If sellers believed they were worth less than $113, they would be selling.

Agreed. There's 2.7M of fiat between $100-$112. No one wants to cash out 25k coins for 2.7M? So if the buyers think it's worth between $100-$112 and every seller thinks they can get more then $112, that's an awful lot of people who have some measure of confidence in BTC. And now we can get amazon giftcards for BTC again, yaaaayaaaaaaaaaaaaaaaaaaaaaa.
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May 09, 2013, 10:03:44 PM
 #6587

bull logic: "lets buy all the bitcoins and NEVER sell them to ANYONE  Cool"
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May 09, 2013, 10:06:14 PM
 #6588

But I was too pessimistic. I still think we can go quite lower short term, but I'm now pretty much convinced that $50 was the real bottom. In my book, thats quite bullish - heck, we where at $14 at the beginning of this year

People seem to be forgetting that you could buy thousands of Bitcoin for $15 each only four months ago.

Are they really worth $113 or more right now ?

Nobody seems to think so or they would not be sitting on the orderbook remaining unsold for days.


There's +170k BTC on the selling book. If sellers believed they were worth less than $113, they would be selling.

This is also true, a lot of people believe they're worth more.

However it's a buyers market and nobody's buying much above $112 at the moment.
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May 09, 2013, 10:13:07 PM
 #6589

Guys... The Humble Double Fine Bundle now accepts BITCOIN!

If Totalbiscuit starts talking about it...  Grin

Wow this is great,HB are highly regarded as innovators in game distribution so i think that the whole game industry will give it a though now.And it looks like coinbase will be considered much more seriously after the high profile funding.This is the first thing i was already using regularly and am able to pay in bitcoins from now on.
muyuu
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May 09, 2013, 10:13:39 PM
 #6590

bull logic: "lets buy all the bitcoins and NEVER sell them to ANYONE  Cool"

Sound logic. Why trade sound bitcoins for inflatable government tokens  Cheesy
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May 09, 2013, 10:14:45 PM
 #6591

There's +170k BTC on the selling book. If sellers believed they were worth less than $113, they would be selling.

Agreed. There's 2.7M of fiat between $100-$112. No one wants to cash out 25k coins for 2.7M? So if the buyers think it's worth between $100-$112 and every seller thinks they can get more then $112, that's an awful lot of people who have some measure of confidence in BTC. And now we can get amazon giftcards for BTC again, yaaaayaaaaaaaaaaaaaaaaaaaaaa.

Well, you know how it works. A little dump, bids get suddenly pulled, a slightly bigger dump, panic, lag, spreads get huge, more panic, Gox crashes, market cool down... And when they reopen trades...

Puff, and it's gone

 Grin Cheesy Grin
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May 09, 2013, 10:18:33 PM
 #6592

There's +170k BTC on the selling book. If sellers believed they were worth less than $113, they would be selling.

Agreed. There's 2.7M of fiat between $100-$112. No one wants to cash out 25k coins for 2.7M? So if the buyers think it's worth between $100-$112 and every seller thinks they can get more then $112, that's an awful lot of people who have some measure of confidence in BTC. And now we can get amazon giftcards for BTC again, yaaaayaaaaaaaaaaaaaaaaaaaaaa.

Well, you know how it works. A little dump, bids get suddenly pulled, a slightly bigger dump, panic, lag, spreads get huge, more panic, Gox crashes, market cool down... And when they reopen trades...

Puff, and it's gone

 Grin Cheesy Grin

Mt. Gox lag and crashes, the ultimate market stabilizer.
Frozenlock
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May 09, 2013, 10:41:30 PM
 #6593

That total lack of volume.  Angry
DougTanner
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May 09, 2013, 10:48:27 PM
 #6594

That total lack of volume.  Angry

WALL PIC

fitty
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May 09, 2013, 10:52:37 PM
 #6595

Talk about no selling pressure. 2k BTC down to $110, and none of that 18k BTC between $113-$120 is interested?

No one is in a rush to buy, no one is in a rush to sell. We've found a price everyone can disagree on. Tongue
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May 09, 2013, 10:58:37 PM
 #6596

I feel bullish.
Dalib
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May 09, 2013, 11:06:12 PM
 #6597

Talk about no selling pressure. 2k BTC down to $110, and none of that 18k BTC between $113-$120 is interested?

No one is in a rush to buy, no one is in a rush to sell. We've found a price everyone can disagree on. Tongue

everyone wants to buy cheap and sell high, but 110 is not enough cheap buy and 113 isn't sell high Wink

 
Frozenlock
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May 09, 2013, 11:06:42 PM
 #6598

I feel bullish.

I do too, don't know why.

Ah yes, I know... because we've got the best newswise month evaaaaar!

Thankfully I'm not trading with my emotions.  Wink
michaelGedi
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May 09, 2013, 11:07:54 PM
 #6599

Talk about no selling pressure. 2k BTC down to $110, and none of that 18k BTC between $113-$120 is interested?

No one is in a rush to buy, no one is in a rush to sell. We've found a price everyone can disagree on. Tongue

everyone wants to buy cheap and sell high, but 110 is not enough cheap buy and 113 isn't sell high Wink

 


I dunno what you are talking about, I personally prefer to buy high sell low - it keeps everyone else happy
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May 09, 2013, 11:08:56 PM
 #6600

Bloomberg TV: Top VC Backs Bitcoin Startup Coinbase
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