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

[Sitarow]

Coin
Explanation

Look at the volume on Finex, Jeez.
Slight bit of buying volume on Stamp too by the looks of it.
Coinbase pretty flat as per usual.
Anybody neutral want to predict what the next move will be, up or down?

We are reaching a tipping point one way or another.

[ssmc2]

Coin
Explanation

Look at the volume on Finex, Jeez.
Slight bit of buying volume on Stamp too by the looks of it.
Coinbase pretty flat as per usual.
Anybody neutral want to predict what the next move will be, up or down?

We are reaching a tipping point one way or another.

Seems like we'll just tip to the side for awhile.

[Paashaas]

Itbit raises $25 milliion...

http://www.coindesk.com/itbit-25-million-series-a/

All that money flowing into Bitcoin is amazing.

[hdbuck]

Itbit raises $25 milliion...

http://www.coindesk.com/itbit-25-million-series-a/

All that money flowing into Bitcoin is amazing.

if only...
it is not flowing 'into' Bitcoin per say..

[ChartBuddy]

Coin
Explanation

[JimboToronto]

Good morning Bitcoinland.

Slight dip on pretty big volume I see. I also see it's more than halfway back.

It doesn't appear to want to leave the $230s for long.

Pot on. Mmmm...

[Chalkbot]

Good morning Bitcoinland.

Slight dip on pretty big volume I see. I also see it's more than halfway back.

It doesn't appear to want to leave the $230s for long.

Pot on. Mmmm...

There's some speculation that a big part of that dip may have been some erroneous code at bitfinex. I'm not totally up to speed on the situation, however.

[phoenix1]

30K dump moves price down ~$5?? Now I see shorts are up to 30K on BFX. Bears be runnin out of coinz to dump. At this point all they are doing is providing support when/if they cover. I don't know if All week hands have been shaken out, but certainly more have been than yesterday. Bear market running out of steam.

I don't know if everyone noticed but the buy support was there before the dump yesterday. Now it is stronger now than I can remember in a long time. If it is real it could be a fun couple of days.

What is unclear to me about the BFX situation this ...
There was never really a high volume dump, it was an error on BFX's side that caused the volume spike . They appear to have rolled back trades caused by their errors (redditors saying their account balances back to normal), but shorts have climbed. Does this imply that some people were trading at this time and opened new shorts *thinking* the dump was real ?? And that these trades stand?? If the shorting stats are up over the period, then I think the answer is "yes"

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

[Norway]

The volume on BGTC today just doubled! (From 1 to 2 shares, lol!)

[Chalkbot]

The volume on BGTC today just doubled! (From 1 to 2 shares, lol!)

Moon incoming.

[Chainsaw]

30K dump moves price down ~$5?? Now I see shorts are up to 30K on BFX. Bears be runnin out of coinz to dump. At this point all they are doing is providing support when/if they cover. I don't know if All week hands have been shaken out, but certainly more have been than yesterday. Bear market running out of steam.

I don't know if everyone noticed but the buy support was there before the dump yesterday. Now it is stronger now than I can remember in a long time. If it is real it could be a fun couple of days.

What is unclear to me about the BFX situation this ...
There was never really a high volume dump, it was an error on BFX's side that caused the volume spike . They appear to have rolled back trades caused by their errors (redditors saying their account balances back to normal), but shorts have climbed. Does this imply that some people were trading at this time and opened new shorts *thinking* the dump was real ?? And that these trades stand?? If the shorting stats are up over the period, then I think the answer is "yes"

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

If not directly affected by the error, I expect the trades will stand.

There is no concept of a 'rollback' anymore. The markets are interconnected with bots employing multiple strategies.

The instant the error occurred, fallout reverberated through the entire trading market.

An implicit requirement of trading on any exchange is that one is vulnerable to all factors which may affect its price, whether real, imagined, localized, or systemic.

This kind of bug is exactly why Bitfinex needed to be upgrading their system, in my opinion. It is unfortunate they didn't make it through the migration without causing a confidence-damaging event.  Amidst that, it's encouraging that they have upped their public communication efforts and made things right, swiftly, to those investors directly affected.

[noobtrader]

Itbit raises $25 milliion...

http://www.coindesk.com/itbit-25-million-series-a/

All that money flowing into Bitcoin is amazing.

there are more important news in it, that ItBit Nets $25 Million,  Launches NYDFS-Approved Bitcoin Exchange

this means mass adoption is  near.

[phoenix1]

<BFX stuff>

If not directly affected by the error, I expect the trades will stand.

Agree with everything you said.
As confidence does not seem to have been dented particularly, that would imply we got some momentum traders bear trapped on a 'glitch' right now  

[billyjoeallen]

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

Shorting at this point it time seems excessively risky, like picking up nickles in front of a train. BFX is very influential and may even lead this market, but it doesn't control it. They had a glitch related to an UPGRADE. They are upgrading.

[Chainsaw]

Itbit raises $25 milliion...

http://www.coindesk.com/itbit-25-million-series-a/

All that money flowing into Bitcoin is amazing.

there are more important news in it, that ItBit Nets $25 Million,  Launches NYDFS-Approved Bitcoin Exchange

this means mass adoption is  near.

I expect the first NYDFS approval would not occur until their finalized path forward for BitLicense, whatever it may be, is clear. With a first exchange approved, subsequent ones should be less of an issue.

I'd love to see COIN get its big announcement in the next few weeks.
Coinbase will also have some 'splainin' to do if they are not able to get NYDFS approval in short order.

[JimboToronto]

-belch-

I'm seriously tempted to use The List...

[Wings1987]

-belch-

I'm seriously tempted to use The List...

I finally did! Not sure what took me so long.

[bassclef]

Good morning Bitcoinland.

Slight dip on pretty big volume I see. I also see it's more than halfway back.

It doesn't appear to want to leave the $230s for long.

Pot on. Mmmm...

There's some speculation that a big part of that dip may have been some erroneous code at bitfinex. I'm not totally up to speed on the situation, however.

I watched it live and it was two whales going at it. Bullwhale won as the market conditions were greatly in his favor. Epic stuff.

If the Dump Team Six (Uncle Ben and the London syndicate) rumors are true, then the stacked orderbook is probably a big middle finger to them. Who dumps into such an oversold market anyway? Talk about a good way to go broke.

[Mrpumperitis]

30K dump moves price down ~$5?? Now I see shorts are up to 30K on BFX. Bears be runnin out of coinz to dump. At this point all they are doing is providing support when/if they cover. I don't know if All week hands have been shaken out, but certainly more have been than yesterday. Bear market running out of steam.

Bears are in denial. 

lol true

[ChartBuddy]

Coin
Explanation