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

[sve9mark]

How are you traders doing with this volatility?

I sold a few at 113 and could have bought in for 1.5 BTC profit, but barely missed it and only made .2 after panic buying before it got back to close to 113.

Made a 4.7% profit

And waiting to buy some at $100ish, and to buy big time sub $100

The Dwolla situation could scare the ass off some overinvested folks with trembling hands, anyhow this can improve a lot or get really worse depending on the next DHS move/explanation.

And from a practical point of view, you just do not convert an unseizable currency to one that will be likely be frozen. I never used Dwolla, but if I did last thing I would want is to get rid of my BTC for good at this moment, I guess people is just speculating that price will drop on these news and they want to buy back cheaper.

I think today's events will only increase the value of bitcoin, whatever the outcome. Bitcoin is decentralized! Closing down Dwolla and/or MtGox plays no barring in my opinion. In fact, the harder it is to buy bitcoins, the more valuable they become. The government has ZERO interest in bitcoins, just as they have ZERO interested in SimCity region fund transfers (did EA ever figure that out?). They DO however have an interest in protecting their citizens. It is not the bitcoin the DHS is after, it is companies who willfully ignore strict financial regulations.

Hope you don't wait too long down there at $100 and below Rampion.

[1714828470]

1714828470

[UltimateReaper]

Sorry I fucked up the satanic ritual earlier today.

Silly me, everyone knows you need to add a few extra pints of animal blood

Ah! You're proud of yourself now?
Think of all those who had bids at $90!

  Hey I tried. Unfortunately money is more powerful than black magic. Such a shame. People have no respect for the old ways!

[relm9]

It is a lucrative investment, I must say.  


On a related note... how the hell did we not pass below $100?
$102.96 is a little... anticlimatic.

It's possible we'll go down lower still. Depends on the scope of this seizure - if it will also affect direct ACH transfers to and from Mt. Gox that's going to be bad news. Dwolla -> Mt. Gox doesn't really affect the big players.

Going by the post on Mt. Gox's Facebook they have NO idea what is being asked of them yet.

[UltimateReaper]

It is a lucrative investment, I must say.  


On a related note... how the hell did we not pass below $100?
$102.96 is a little... anticlimatic.

It's possible we'll go down lower still. Depends on the scope of this seizure - if it will also affect direct ACH transfers to and from Mt. Gox that's going to be bad news. Dwolla -> Mt. Gox doesn't really affect the big players.

Going by the post on Mt. Gox's Facebook they have NO idea what is being asked of them yet.

Yeah I have to be honest I'm kind of antsy right now. Are we going to see a full rebound or even rally? Or is this ship about to sink? That's the real question right now. Logic tells me we are going to tank, however, BTC doesn't like to listen to what makes sense.

[MickeyT2008]

It is a lucrative investment, I must say.  


On a related note... how the hell did we not pass below $100?
$102.96 is a little... anticlimatic.

It's possible we'll go down lower still. Depends on the scope of this seizure - if it will also affect direct ACH transfers to and from Mt. Gox that's going to be bad news. Dwolla -> Mt. Gox doesn't really affect the big players.

Going by the post on Mt. Gox's Facebook they have NO idea what is being asked of them yet.

You never know, especially considering how half of Western Europe and the USA are all still tucked up in bed - except for those of us who're sitting at our computers, bleary eyed and wired on coffee (or something stronger).  A lot of people haven't had time to react to this news/non news story yet.

[Frozenlock]

A lot of people haven't had time to react to this news/non news story yet.

But if they hear the news and see the price recovered, will they do something? 

[MickeyT2008]

A lot of people haven't had time to react to this news/non news story yet.

But if they hear the news and see the price recovered, will they do something?  

This is bitcoin, logic doesn't apply so anything could happen of course!

[BitPirate]

A lot of people haven't had time to react to this news/non news story yet.

But if they hear the news and see the price recovered, will they do something?  

This is bitcoin, logic doesn't apply so anything could happen of course!

What logic?

There's not much logic in selling _after_ the fact, when the bottom could already have come in -- safer to hold.
There's not much logic in selling unseizable currency to buy fiat when the government is trying to prevent you from receiving it.
There's not much logic in expecting non-US people to react to news that only affects users of a small payment service provider that only offers its services to US citizens.

[ChartBuddy]

[Welsh]

Their post of facebook, just didn't seem right.
They didn't sound like they know what they had to do.

[smoothie]

Gotta love the irrational buying and irrational selling going on.

 

[Frozenlock]

Gotta love the irrational buying and irrational selling going on.

 

I'm so confused!

If I was trading on emotions I would be killing myself right now.

[MickeyT2008]

This price could easily collapse again, last time there was massive support for the $119 price which got crushed, this time there's very little in the way of bids holding this price up.  It wouldn't take a huge amount of sales to knock it all the way back down again.

[Frozenlock]

This price could easily collapse again, last time there was massive support for the $119 price which got crushed, this time there's very little in the way of bids holding this price up.  It wouldn't take a huge amount of sales to knock it all the way back down again.

You might be right... seems the rally is losing some steam.

[Coinseeker]

Woke up from a nap and I'm like...huh??    Shouldn't we be sub 100 right now??  Is someone just pumping this up to dump it in a few?? 

/scratches head

[Ares]

Woke up from a nap and I'm like...huh??    Shouldn't we be sub 100 right now??  Is someone just pumping this up to dump it in a few?? 

/scratches head

Now seems like a way to uncertain time for a pump and dump. Might pump and have it crash before the dump.


There has been some good news recently that has been put in the shadow from this whole dwolla debacle. IMO this will help take us off of Mt.Gox's leash, could be a very good thing

[MickeyT2008]

This price could easily collapse again, last time there was massive support for the $119 price which got crushed, this time there's very little in the way of bids holding this price up.  It wouldn't take a huge amount of sales to knock it all the way back down again.

You might be right... seems the rally is losing some steam.

As always seems to happen I set my bid price a tiny bit too low for this rally, and missed my opportunity to do anything about it due to having to do the damned school run.  Sometimes I wonder just how flammable that school is, lol, they're always costing me money.

Fortunately I'm not dealing with enough money to worry about it that much, at least I haven't lost anything I suppose, other than an opportunity.

[gizmoh]

Woke up from a nap and I'm like...huh??    Shouldn't we be sub 100 right now??  Is someone just pumping this up to dump it in a few?? 

/scratches head

Two big buys to $115 and a few lemmings following. IMO unsustainable in the coming hours/days.

[Frozenlock]

[Coinseeker]

I guess we'll see.  I certainly can't go back to sleep now, that's for sure.