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

[billyjoeallen]

It seems very hard for the price to stay above 1000.

It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level.

I actually hope that's true, because as soon as the wankers get out of the game, liquidity will dry up and we'll sooner reach a new ATH. I predicted it will take three months to shake out all the weak hands. I'm standing by that prediction. two months to go.

I've been reading shaking out the weak hands since it was at 100 or so.
And i will keep reading about it with every dump this year i'm afraid See what i'm trying to say?

Not really. You seem to be making my point for me. Every dump does shake out weak hands. it only stayed at the ~100$ for six months or so. The recovery from the 2011 crash took 18 months. i believe the recovery time is correlated with the proportional rise of price in the rally. by that metric, we have three months to wait (give or take 3 three months) before the next rally.

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[1715604436]

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[billyjoeallen]

Curious, what does the article say why this is bad? I can't make out any argument, just a prolonged statement that it is.

As the website is fond of saying, it's about the meta-context. If you don't see why these things are bad, it probably won't mean much to you. If you can, it explains how the government is creating huge amounts of money and hiding the problem away for someone else to deal with later and actually accelerating the underlying problems (Why are we paying interest on money that nobody is using and where does the money to pay that interest come from anyway? And perhaps more telling, who is it going to?).

I went back and read the article since it's been a while and you really can't see where it says why it's bad?

seems obvious to me. The FED is creating money and giving it to banksters, effectively stealing the purchasing power of private citizens and giving it to the very people who caused the crisis in the first place. Zombie banks get recapitalized so the don't look like zombies anymore, even though they have a funny smell and unnatural expressions on their faces. The problem got papered over and never fixed. The entire housing market is being artificially levitated on a cushion of counterfeit money which protects homeowners a little, the banks a lot, and really screws anyone wanting to become a first time buyer. household formation is grinding to a halt.

[KeyserSoze]

Maybe we can get McDonald's and Toys "R" Us on board once the price gets back to $1200?
http://www.palmbeachdailynews.com/news/news/local/pb-group-invests-in-one-bitcoin/nckPS/

[JorgeStolfi]

Typical daily volumes (kBTC) on major exchanges, for the last week or so, from Bitcinwisdom's charts:


Huobi       105
OKCoin       35
BTC-China    11

BTC-e        21
Bitstamp     17
MtGox        16
BitFinEx     16

TOTAL CHINA     151
TOTAL NON-CHINA  70

[Parazyd]

Good morning! I forgot how exciting this was

[ShroomsKit]

It seems very hard for the price to stay above 1000.

It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level.

I actually hope that's true, because as soon as the wankers get out of the game, liquidity will dry up and we'll sooner reach a new ATH. I predicted it will take three months to shake out all the weak hands. I'm standing by that prediction. two months to go.

I've been reading shaking out the weak hands since it was at 100 or so.
And i will keep reading about it with every dump this year i'm afraid See what i'm trying to say?

All i'm saying is that as long people are buying there will always be weak hands. So we can stop mentioning it really.

Not really. You seem to be making my point for me. Every dump does shake out weak hands. it only stayed at the ~100$ for six months or so. The recovery from the 2011 crash took 18 months. i believe the recovery time is correlated with the proportional rise of price in the rally. by that metric, we have three months to wait (give or take 3 three months) before the next rally.

[ChartBuddy]

Explanation

[zby]

Looks like they are closing the weekend rally a little bit earlier this week.

[ChartBuddy]

Explanation

[hyphymikey]

Instead of boobs for beads for Mardi Gras this year in New Orleans, I'm gonna try btc for boobs.

(drunk)

did you buy back in i hope

No. I've had some block eruptors at work, so i'll be throwing chicks some satoshis.

[TERA]

Suddenly btce is trading $25 below bitstamp today?

[Ashitank]

Suddenly btce is trading $25 below bitstamp today?

Btc-e & Huobi are sync to each other , Gox & stamp did not react when btc-e & Huobi dropped price.

[ChartBuddy]

Explanation

[T.Stuart]

If the Hodlers keep running things so majestically, there's only one direction this baby can go.

[Richard Branson]

If the Hodlers keep running things so majestically, there's only one direction this baby can go.

No offense, but this forum has zero impact on the market.
Hodlers with 0.5, 1, 10 even 100 coins don't change anything.

The guys with 10k+ coins will decide where we are heading.
And anybody should just wait to buy more coins till jan 31. With huobi gone, who knows what's going on. They are the market leader.

[TERA]

No offense, but this forum has zero impact on the market.

Thank you.  I'm tired of people telling me that I'm talking my book, etc.

[ChartBuddy]

Explanation

[Miz4r]

No offense, but this forum has zero impact on the market.

Thank you.  I'm tired of people telling me that I'm talking my book, etc.

Everyone is talking their book in here, consciously or subconsciously. People believe there are really big whales paying attention to this forum so if a post convinces these whales to buy or sell it may actually influence the market. I doubt they decide to sell or buy on the basis of one post though but the general sentiment here might be an indicator for them.

[pietje]

Suddenly btce is trading $25 below bitstamp today?

Btc-e & Huobi are sync to each other , Gox & stamp did not react when btc-e & Huobi dropped price.

interesting. Yesterday it was stamp following huobi on every move it made.

[ChartBuddy]

Explanation