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

[BayAreaCoins]

Nothing is more funny to a bull than the OKcoin bear that got margin called today for 31,000 BTC/3 million dollars. His wife is gonna kill him.

No kidding, this guy was slaughtered on the alter of doom and it was a major shot across the bow of the bearmobile. If it can happen to this guy, it could happen to anyone.

LOL so true.

Almost feel bad, but god damn shorting technology that hot n heavy... you are asking for it!

That guy appears to be a pig, that leverage, that amount... dead on a $10 rise. I bet most bears are laughing at the guy too.  

I doubt any bears are laughing at that one... I'd be shitting my pants about now.

Next nice pitch I'd guess around $242(ish) give or take.

[tarmi]

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

[Norway]

Nothing is more funny to a bull than the OKcoin bear that got margin called today for 31,000 BTC/3 million dollars. His wife is gonna kill him.

No kidding, this guy was slaughtered on the alter of doom and it was a major shot across the bow of the bearmobile. If it can happen to this guy, it could happen to anyone.

Right. I think people trying to push the price down have lost their power and will pay more in the future  

[BlindMayorBitcorn]

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

I could stand on my head singing God Save the Queen for a year. A year is nothing:

Give empowering his DOOOOOooooomm. I can wait

[Norway]

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

Do you say that just because it happened the last year?

[tarmi]

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

Do you say that just because it happened the last year?

No, I am saying that because this is very inefficient market and the bubble didn't deflate yet.

[Norway]

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

Do you say that just because it happened the last year?

No, I am saying that because this is very inefficient market and the bubble didn't deflate yet.

How is it inefficient? And how does that push the price down?

EDIT: Hard to trust Tarmi as a clever bear trader when he rents out his signatur to a casino company. Maybe that is his business model? Lol 

[Cconvert2G36]

With other commodities and stocks, often everything happens from the same accounts. Bitcoins are often tied up offline, some are buried in mining activity. There are barriers and non-trivial risks to having everything up for sale at a certain price. This makes the spot price somewhat inefficient in reacting to market changes.

This in itself won't push the price down, it's more of a tailwind. The headwind is the unwinding of a bubble that started in the mid $1xx, and 3600 coins a day being minted. Increasingly, minted by big industrial farms with industrial size costs.

[Norway]

With other commodities and stocks, often everything happens from the same accounts. Bitcoins are often tied up offline, some are buried in mining activity. There are barriers and non-trivial risks to having everything up for sale at a certain price. This makes the spot price somewhat inefficient in reacting to market changes.

This in itself won't push the price down, it's more of a tailwind. The headwind is the unwinding of a bubble that started in the mid $1xx, and 3600 coins a day being minted. Increasingly, minted by big industrial farms with industrial size costs.

This doesn't make any sense to me. Sorry 

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

>29K shorts on BFX!   that's gonna be a heluva squeeze if the margin calls cascade.

[BayAreaCoins]

>29K shorts on BFX!   that's gonna be a heluva squeeze if the margin calls cascade.

The silence before the squeeze...

[damiano]

You guys are funny

5k of those shorts were just barely opened within $10 and rest probably opened around 280+ and your already talking about squeeze

[ChartBuddy]

Coin
Explanation

[molecular]

Nothing is more funny to a bull than the OKcoin bear that got margin called today for 31,000 BTC/3 million dollars. His wife is gonna kill him.

No kidding, this guy was slaughtered on the alter of doom and it was a major shot across the bow of the bearmobile. If it can happen to this guy, it could happen to anyone.

His mistake was not the shorting, it was the insane leverage he used. Also you don't know how often it worked for him... he might be well in the green in aggregate.

This can happen to anyone with highly leveraged positions, yes. Not just bears.

[ChartBuddy]

Coin
Explanation

[BayAreaCoins]

OKcoin futures now above market price for OKcoin spot price, Bitstamp and Coinbase!

Haven't seen that for a while.

Edit:

At the time of post it was higher.  OKcoin spot is now higher.

[Fatman3001]

Just woke up. Price not in freefall. Happy times!

[podyx]

Nothing is more funny to a bull than the OKcoin bear that got margin called today for 31,000 BTC/3 million dollars. His wife is gonna kill him.

You need to have some guts to go 10x leverage with $3 mill tho, gotta give him that.