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

[Wandererfromthenorth]

Next for sale is Alana the Hula BTCeanie BTCaby. She retails for $9.99 USD... which means that she has risen in value over 1,000,000,000% since she was first created out of scraps in an Indonesian factory in 1996! Think of the potential! Any bidders?

http://mentalfloss.com/sites/default/legacy/wp-content/uploads/2008/12/beanie.jpg

N00b, you know nothing of Beanie Babies.  Just a get-rich-quick scheme 2 u, didn't even read the whitepaper, did u?  Fuck no is right!

http://s30.postimg.org/a8n4o8v9d/beanie1.gif

Idiot traders are completely ruining the market. They won't stop til its dead. Enjoy your pump and dump beanie babies!

Did you take some shrooms tonight? They must be moldy and lacking in any sort of decent psychedelic whatsoever.

We call it the shroomskit loop.
Perpetuum mobile. It goes on for eternity.

[Chef Ramsay]

We never did test the $32 to $45 range. Maybe it's time we did.

That'll never happen, we're seeing plenty of buying action right now and it'll only skyrocket as and if the price seeps any lower. The panic selling is just about over and the bulls' fiat is picking off whatever coins they can and a market switcharoo is a coming.

[Wandererfromthenorth]

We never did test the $32 to $45 range. Maybe it's time we did.

That'll never happen, we're seeing plenty of buying action right now and it'll only skyrocket as and if the price seeps any lower. The panic selling is just about over and the bulls' fiat is picking off whatever coins they can and a market switcharoo is a coming.

[derpinheimer]

Hidden wall on finex at 248.1$...

There definitely was! Quite large, too. Nice catch.

[mrkavasaki]

do you believe we will see sub $200 prices soon?

[luckygenough56]

don't be so optimistic

[Chef Ramsay]

If your knees are shaky, just sell what ya got right here and now. Otherwise, put your seatbelt on and prepare for whatever driving conditions are ahead. The roads can only get so bad before the salt trucks come out or the weather gets better. 

[Snipe85]

We never did test the $32 to $45 range. Maybe it's time we did.

That'll never happen, we're seeing plenty of buying action right now and it'll only skyrocket as and if the price seeps any lower. The panic selling is just about over and the bulls' fiat is picking off whatever coins they can and a market switcharoo is a coming.

You're right. The slide from 270s was fast, similar to the slide from last week and we can clearly see a temporary bottom forming. It will again repeat the rebound from last week before going hard up or down again.

[bengtåke]

Another systematic dump eh. Even the chinese mining megafarms must start hurting soon at these prices

[Biro Bob]

anyone notice the crash?

Which one?

[Richy_T]

Wait.  I thought Bitcoin never went below the previous bubbles high....

Never say never with Bitcoin.

[cbeast]

anyone notice the crash?

In oil you mean?

[poncho32]

Where the fuck do all these bitcoins come from that are getting dumped? Is the Bitstamp hacker dumping?

[PoolMinor]

 

[cbeast]

[billyjoeallen]

Holy God, I take a little time off to watch a football game and the world falls apart. Can't say it was unexpected. I'm a buyer @ $222

[ChartBuddy]

Explanation

[Richy_T]

This is like $1000 but in complete opposite.

In a sense it is.  Everything indicates that the Nov/2013 bubble was the opening of the Mainland Chinese market, specifically the Chinese amateur and semi-professional commodity day-traders, through Huobi, OKCoin and other little-known Chinese exchanges.

I believe that what we have seen through 2014 and now is those Chinese traders are gradually getting disappointed with bitcoin and dumping the coins that they bought during that rally, which then come back to the "West" through arbitragers.  My guess is that those coins included the ~700 kBTC that went missing from MtGOX, and an unknown amount from other sources.  Perhaps 1 or 2 million BTC in total.

Normally I would expect an exponential decay than slows down with time, as in the Feb/2013 and Apr/2011 bubbles.  However, in the last couple of months the decay seems to be linear, or even faster than linear.  Perhaps the Chinese speculators are moving their money to the Chinese stock market, which has been booming in recent months.

Seems about right.

[navigatrix]

Where the fuck do all these bitcoins come from that are getting dumped? Is the Bitstamp hacker dumping?

Just speculation, but...

At least 3 scammers absconded with funds in the last 2 weeks. Cryptomine.io, cryptodouble, Hashprofit, and on and on.... undoubtedly more than I am following myself.

I imagine they are dumping BTC and grabbing as much fiat as they can get before heading for the hills.

Maybe not the main factor in the price crash right now, but I'm sure it's contributing.

[Stevenirving]

Bottomed
Only place to go is up