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

[Vigil]

The reason people don't understand Bitcoin is that we get too caught-up in the details instead of just saying "its a currency and payment system that gets rid of all those fees you pay with Paypal and credit cards. Here, you set it up like this (download Electrum wallet, then send them some coin and have them send it back to you). There, thats all there is to it. If you want to buy coins setup an account on Coinbase (or other). If you want to accept Bitcoins for your business, setup an account on BitPay and they will instantly be converted to USD. Later."

How we explain it: "Bitcoin is a decentralized, P2P, crypto-currency which allows near anonymous world-wide exchange of value between any two parties. For the first time ever, two people don't need a bank account or a middle-man to transact. Bitcoin is secured by cryptography and miners that crunch numbers to verify the blockchain. The blockchain is a decentralized public ledger which records all transactions. Everytime a transaction is made various nodes confirm the transactions, which eventually get validated once and for all once the miners find the proper cryptographic hash... Bitcoin is going to change the world forever and end the banking monopoly on money and credit and much like email ransacked the post office. etc. etc. "

[wachtwoord]

I could be totally wrong but in the Bitcoin world no one that has held longer than 6 months has lost any value.

It goes to show how few you "hodlers" are actually familiar with Bitcoin's history. Not only is your perception of the future warped, but also the past.

Your statement is false, it would have to be altered to about 20 months. Remember June 2011?

Its pretty laughable that this argument is still being used. Let's see, the high in 2011 was $32. Would you buy for that price today? Exactly.

Scoreboard. End of discussion.

Yup, but it tool a lot more than 6 months. Don't lie to people when convincing them to buy (if you want to do that at all). They might sell after a 6 months downtrend (which should NEVER be ruled out) and blame you.

[N12]

No please, keep creating the most positive expectations imagineable that will inevitably be shattered. It's good for your mental and financial health.

[iarsenaux]

How do you think Chinese government will act if someone tried to make a run around against an order that they made? Like in example, they ban people from depositing funds to exchanges but the btcchina had come up with this "voucher" thing to give a detour for the depositors.

[windjc]

No please, keep creating the most positive expectations imagineable that will inevitably be shattered. It's good for your mental and financial health.

Right because you know what will happen because this is actually 2010.

[gandhibt]

its going to crash soon, if for no other reason then, no one is buying at these high prices

before this recent down move price was already starting to hover down and now that big support has sold away, there's nothing to stop the bigger down move, bid/ask ratio is sinking and price will soon follow

let there be cheap coins

(okay im starting to sound like fud bear soon)

(but maybe not quite yet )

[geri]

The reason people don't understand Bitcoin is that we get too caught-up in the details instead of just saying "its a currency and payment system that gets rid of all those fees you pay with Paypal and credit cards. Here, you set it up like this (download Electrum wallet, then send them some coin and have them send it back to you). There, thats all there is to it. If you want to buy coins setup an account on Coinbase (or other). If you want to accept Bitcoins for your business, setup an account on BitPay and they will instantly be converted to USD. Later."

Out of context, but very very true

[JimboToronto]

in the Bitcoin world no one that has held longer than 6 months 2 years has lost any value.

ftfy

[wachtwoord]

in the Bitcoin world no one that has held longer than 6 months 2 years has lost any value.

ftfy

But less impressive for something which has been around for 5 years and has had a market price for less. Don't pitch Bitcoin as a steady investment please. It's not.

[windjc]

its going to crash soon, if for no other reason then, no one is buying at these high prices

before this recent down move price was already starting to hover down and now that big support has sold away, there's nothing to stop the bigger down move, bid/ask ratio is sinking and price will soon follow

let there be cheap coins

(okay im starting to sound like fud bear soon)

(but maybe not quite yet )

This is all well and good except for the fact that this is a weekend and is following a pretty typical weekend pattern. It looked more bearish a week ago than it does today and we all know what happened Christmas day. So, until I see a drop that doesn't have significant support, then color me not convinced.

[adamstgBit]

huobi has almost 50% of market share

what a load of crap.

[N12]

Thanks wachtwoord, there are bulls here who could handle the event of another monstrous bear market and a long period of consolidation = boredom, but they are, based on my impression, very few.

Of course, they will tell you that today is different and conjure up some very losely price connected "fundamentals". But it comes down to "today must be different, because today it's my money at stake".

[windjc]

Thanks wachtwoord, there are bulls here who could handle the event of another monstrous bear market and a long period of consolidation = boredom, but they are, based on my impression, very few.

Of course, they will tell you that today is different and conjure up some very losely price connected "fundamentals". But it comes down to "today must be different, because today it's my money at stake".

Ok. So is your prediction that this is the beginning of 2011 all over again? A bear market where we reach final support at below 100 and where we dont see ATHs again until 2015?

If so, just say it clearly so we can all understand where you stand here. I, for one, would greatly like to archive your answer to this question.

[gandhibt]

its going to crash soon, if for no other reason then, no one is buying at these high prices

before this recent down move price was already starting to hover down and now that big support has sold away, there's nothing to stop the bigger down move, bid/ask ratio is sinking and price will soon follow

let there be cheap coins

(okay im starting to sound like fud bear soon)

(but maybe not quite yet )

This is all well and good except for the fact that this is a weekend and is following a pretty typical weekend pattern. It looked more bearish a week ago than it does today and we all know what happened Christmas day. So, until I see a drop that doesn't have significant support, then color me not convinced.

week ago we were <600 and bid/ask ratio wasn't that much lower than now, ofc that's not very important but ratios trend is

this fits to the theory that price was held high so that whales can sell slowly before this bounce starts to head back

[TERA]

I think loaded is right. I've been trying to analyze the bitcoin TA and all I can see is this:

[adamstgBit]

I think loaded is right. I've been trying to analyze the bitcoin TA and all I can see is this:

.jpg!!!!!!!!!!

ahhhhhhhhhhhhhhh

[windjc]

its going to crash soon, if for no other reason then, no one is buying at these high prices

before this recent down move price was already starting to hover down and now that big support has sold away, there's nothing to stop the bigger down move, bid/ask ratio is sinking and price will soon follow

let there be cheap coins

(okay im starting to sound like fud bear soon)

(but maybe not quite yet )

This is all well and good except for the fact that this is a weekend and is following a pretty typical weekend pattern. It looked more bearish a week ago than it does today and we all know what happened Christmas day. So, until I see a drop that doesn't have significant support, then color me not convinced.

week ago we were <600 and bid/ask ratio wasn't that much lower than now, ofc that's not very important but ratios trend is

this fits to the theory that price was held high so that whales can sell slowly before this bounce starts to head back

I'm trying to wrap my head around this theory that is being thrown about that some group of "whales" artifically inflated the price so they could sell off before the "big sell off".

So these whales must be from the future it seems to know that, first, there is going to be a big "sell off" and second that there are no worldly factors that might have a significant impact on the market that, today, are completely unknown.

It amazes me that these "whales" are so clairvoyant to know how to manipulate the market weeks in advance.

[N12]

Thanks wachtwoord, there are bulls here who could handle the event of another monstrous bear market and a long period of consolidation = boredom, but they are, based on my impression, very few.

Of course, they will tell you that today is different and conjure up some very losely price connected "fundamentals". But it comes down to "today must be different, because today it's my money at stake".

Ok. So is your prediction that this is the beginning of 2011 all over again? A bear market where we reach final support at below 100 and where we dont see ATHs again until 2015?

If so, just say it clearly so we can all understand where you stand here. I, for one, would greatly like to archive your answer to this question.

I don't think we will. I just don't think we will go up x10 or even x100 every year as many of you guys expect. But, I do want to say that everyone should prepare for the possibility that such a thing DOES transpire.

It's funny how you would like to have a single statement so you can point at me should it (not) happen. This is a game of probabilities, and coincidentally (even though I am not trying to achieve it – I'm merely limiting my risk to preserve purchasing power, and always gladly sacrifice nominal BTC for that), I'm still up on my BTC since start of trading. I also have Bitcoins that I never touch, as a hedge.

I can tell you what I view as probable, and what I view as improbable, but I have a feeling that this might not interest you.

[gandhibt]

okay that's too much guessing, we can stick to numbers and this still looks bearish

[mb300sd]

I think loaded is right. I've been trying to analyze the bitcoin TA and all I can see is this:

http://r-g-b.me/