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

[Drabla]

On our way to 400s - by Sunday evening.
Now, it's either  or    , depending where your money is.

Imho there are too many people waiting for those prices. It has to first go up to a level that is considered a good exit point for the anti-hodlers (and those chinese that want to pass the bomb to another player)

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[HairyMaclairy]

Switching tactics. Have sat on my hands since the crash and done nothing after buying all the way down.  Now starting to buy in little nibbles.

[freethink2013]

I'm pretty pleased with the stability tbh. We could well hit 550 tomorrow but it looks like we'll settle at 650 come monday. I don't expect much volume over christmas and once we get back over 800 we'll have officially shaken off china. We'll probably have a lot of panics as china exists but we'll be 800 into the new year regardless

Have you ever watched the price of petrol/gasoline during a global crisis? It increases dramatically. When the event is over and the market stabilizes the price drops but never to the level that it was before the event that moved it. Bitcoin is proving to be a commodity the reacts similarly.  

I hear what you are saying but gas prices are the most manipulated commodity ever. bitcoin is heavily manipulated but not to the same extent i.e. there is no real opec in our scenario.  We could say the 'bit' in 'bitcoin' is because it's a bit like oil, a bit like gold, a bit like whatever.

I suppose the gold/oil connection is scarcity/difficulty. I'd argue bitcoin is closer to gold than oil. Gold and bitcoin have arguable intrinsic value but it's scarcity that makes them valuable. Same for diamonds/silver etc. Yes you can do some stuff, make jewelry and electronic components but it's manly about a store of wealth.

Oil is different. Oil has a real intrinsic value. It is fuel. A real difficultly(cost) to mine plus it has a cartel limiting the supply.

talking out loud tbh lol

I like that - a bit like oil, a bit like gold. lol

I meant the reaction from market manipulation instead of actual intrinsic value. Bitcoin is highly manipulated by a few power players, so is crude oil.

Oil is manipulated with supply too though. Totally agree that the bitcoin market itself is manipulated with big players willing to dump coins at below market prices to panic the market at which stage they buy back. rinse and repeat.

[freethink2013]

On our way to 400s - by Sunday evening.
Now, it's either  or    , depending where your money is.

Imho there are too many people waiting for those prices. It has to first go up to a level that is considered a good exit point for the anti-hodlers (and those chinese that want to pass the bomb to another player)

I'd guess most volume is at 550. below that is wishful thinking.

[xIronCrossx]

Hodl until the end of times.

[QuestionAuthority]

I'm pretty pleased with the stability tbh. We could well hit 550 tomorrow but it looks like we'll settle at 650 come monday. I don't expect much volume over christmas and once we get back over 800 we'll have officially shaken off china. We'll probably have a lot of panics as china exists but we'll be 800 into the new year regardless

Have you ever watched the price of petrol/gasoline during a global crisis? It increases dramatically. When the event is over and the market stabilizes the price drops but never to the level that it was before the event that moved it. Bitcoin is proving to be a commodity the reacts similarly.  

I hear what you are saying but gas prices are the most manipulated commodity ever. bitcoin is heavily manipulated but not to the same extent i.e. there is no real opec in our scenario.  We could say the 'bit' in 'bitcoin' is because it's a bit like oil, a bit like gold, a bit like whatever.

I suppose the gold/oil connection is scarcity/difficulty. I'd argue bitcoin is closer to gold than oil. Gold and bitcoin have arguable intrinsic value but it's scarcity that makes them valuable. Same for diamonds/silver etc. Yes you can do some stuff, make jewelry and electronic components but it's manly about a store of wealth.

Oil is different. Oil has a real intrinsic value. It is fuel. A real difficultly(cost) to mine plus it has a cartel limiting the supply.

talking out loud tbh lol

I like that - a bit like oil, a bit like gold. lol

I meant the reaction from market manipulation instead of actual intrinsic value. Bitcoin is highly manipulated by a few power players, so is crude oil.

Oil is manipulated with supply too though. Totally agree that the bitcoin market itself is manipulated with big players willing to dump coins at below market prices to panic the market at which stage they buy back. rinse and repeat.

I agree but also believe that the slow reward feeding of the supply of Bitcoin is a type of manipulation, albeit a constant one by design. The only difference is oil supply can be halted completely but I guess miners could halt the supply of Bitcoins for some bizarre currently unforeseen reason.

[MikeH]

I think the manipulators might have all died in a plane crash.

[QuestionAuthority]

I think the manipulators might have all died in a plane crash.

Yeah, where is everybody? This place needs some action.

[spooderman]

Saturday night. Whales out partying with their easily earned dosh.

[mmitech]

I did also notice that most movements happens when I go to sleep ( I am from EU), today I will give it  a shot and try to be a bit late, although I see no action the market is so silent not so much trading is going around , and you know what they say after the silent comes what ?  a bear/bull ? we will find out

[Walsoraj]

I think the manipulators might have all died in a plane crash.

Yeah, where is everybody? This place needs some action.

Maybe the manipulators are hodling? 

[mmitech]

watching the order book getting updated, I think something is about to happen !!!

[vdcc]

something like a dump?

[Voodah]

There's that lame 190 wall in China cockblocking everyone...

[mmitech]

I have never seen a flat line like this one over the last 2 hours on BTCChina, trading is just dead there.


 

[Rampion]

watching the order book getting updated, I think something is about to happen !!!

Saturday's bearapocalypse??

[vdcc]

BTCChina dead, OKCoin busted http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/, btc38 down

[N12]

I don't think China was such a good idea after all.

[spooderman]

I don't think China was such a good idea after all.

Whose idea was it?

[N12]

I don't think China was such a good idea after all.

Whose idea was it?

I am talking about all the people ejaculating about it in the past months expecting them to be the future of Bitcoin, contrarily to the US, and those who had the impression that the Chinese government was favorable towards Bitcoin because it let it run on some TV channels.

In my view, Bitcoin has the least future in authoritarian countries.