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

[JorgeStolfi]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars.

Is that a confirmed fact, or a deduction based on the order book?  If the latter, it does not mean anything: arbitragers pull in orders from all the other exchanges (including those that are not carried by any chart site).  A large buy would also bring in some of the coins that are sitting in off-exchange wallets, or in the traders' accounts but not in the order book.

If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

The empirical observation above accounts for the money that is actually available, ie. that Western traders will pour into the market in response to positive rumors.  Of course it depends on how positive are the rumors.

As for conjectures: with enough money, the price could rise to the moon of Pluto (and, with enough BTC, it could drop to single digits).

[bassclef]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility/liquidity to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

[podyx]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

What does this mean? That it was just a joke or what?

[elkrisi]

The astronaut here cannot possibly be hurt as his suit can well protect him from electric shocks.
Important to understand the risks...

[damiano]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

How low do you think we're headed?

[JorgeStolfi]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

And they were, um, obfuscating when they claimed to be the "first" licensed US exchange.

And they were also, er, obfuscating when they let people to think that client BTC balances are insured.

And, furthermore, they were, ahem, obfuscating when they left the impression that client USD balances are insured by FDIC.

[bassclef]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).   

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

How low do you think we're headed?

$225 if things get panicky. I'll have my short from $300 ready to cover below $250.

[JorgeStolfi]

By the way, the pump was mostly china, it's always china.

Was it?  If so, I take my post back...

[ChartBuddy]

Coin
Explanation

[Kupsi]

Why aren't the Greeks and Russians buying?

Can't say anything for Greeks, but Russians are buying USD, because RUB is being inflated much faster than USD, so the majority of the people don't notice any USD inflation.

The interest is growing in Russia.

http://bitcoincharts.com/charts/localbtcRUB#igWeeklyztgSzm1g10zm2g25zv

[damiano]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).   

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

How low do you think we're headed?

$225 if things get panicky. I'll have my short from $300 ready to cover below $250.

I had a short order that opened up this morning at 270 so hopefully it works out.  I'm hoping for 230ish. It at around 245-250 Ill get a little nervous and starting winding the position down

[JorgeStolfi]

Chinese exchanges are consistently lower than western.

Sites like bitcoinwisdom use the official currency exchange rate, pulled from some public site, to convert CNY to USD.  However, arbitragers must include currency exchange fees and other factors in their computations.  So the ratio of Chinese CNY price over Western USD price is usually different from the official currency exchange rate.

[davidorentol]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

[findftp]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

Just kidding. Keep them at least till 355

[Totenkofen]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

Coinbase has to be so called SecondBase

[YourMother]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

Bitcoin treated just like a shitcoin. Bullshit news, cosmos, rockets, "TOO DA MOON!", Winkledouchebags ...

The only thing that is missing is a pump based on logo update.

[luckygenough56]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

Bitcoin treated just like a shitcoin. Bullshit news, cosmos, rockets, "TOO DA MOON!", Winkledouchebags ...

The only thing that is missing is a pump based on logo update.

soon !

[janos666]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

The only thing that is missing is a pump based on logo update.

Delete that post ASAP or prepare for the consequences!

[Ov3R]

California Regulator: Coinbase Exchange 'Not Regulated or Licensed'

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

Bitcoin treated just like a shitcoin. Bullshit news, cosmos, rockets, "TOO DA MOON!", Winkledouchebags ...

The only thing that is missing is a pump based on logo update.

but coindesk  don´t lie
the moon was  near

The Asteroid That Flew By Earth Yesterday Had A Moon
http://www.popsci.com/asteroid-just-flew-earth-had-moon?dom=fb&src=SOC

[kodtycoon]

am i the only one who thinks this is going up?