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

[gentlemand]

There's been hundreds of millions of usd invested in bitcoin startups. I sometimes wonder if even one or two of these entities or their investors are using a few mil to stave off further declines. Not trying to run a rally all by themselves, but putting a floor, and at least sow some doubt in the minds of weak handed hodlers and shotrers.

It's a bit of a hiding to nothing isn't it? You could burn tens of millions just running to stand still and all you'd do is give the same old suspects more ammo to dump on you once again.

What I assume they're trying to do is position the ecosystem to blast the current generation of market oiks out of the water with some genuine demand from the wider world. They might need to get their skates on.

[ChartBuddy]

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[JerryCurlzzz]

Greek millionaires are as likely to plow their cash into rare pokemon cards as they are into bitcoin.

I'm pretty sure those with real money in Greece got most of their assets out of the country quite some time ago. I've heard they have bought up quite a lot of real estate in Berlin, for instance.

If you got money, you think ahead. And yeah, they aren't buying bitcoin.

[shmadz]

happy now?

More like relieved actually, I hate when things go too far too fast, but what I really want to know is...

How can you remain so steadfast when the price is rising? Have you no fear of the runaway market like we've seen many times in the past? Or is it just different this time? What with all the options to go short that did not exist during previous bull moves?

Genuinely curious as I've not the stomach to go short when my gut is telling me the bear market is over.

it's quite simple and easy: instead of your gut listen to your brain.

His brain's telling him you're incompetent.  

Not incompetent, incomprehensible.

My brain did tell me that bitcoin might be something to take a closer look at, when my gut was telling me scam. That was back in 2011...

since then I've tried trading on margin, using my brain. I found that my brain could be fooled. (I also found that after ten winning moves, it only took one losing trade to wipe out all my profits, but that's just a learning experience)

After the last 4 years my brain has decided to just ignore the noise and wait for the big moves. You know, just like Jesse Livermore, you just need to find the line of least resistance. (Not as easy as it seems sometimes) I don't have the kind of clout to place market buys and sells large enough to gauge the market, so I rely on my gut (as did Jesse on numerous occasions) and right now my gut is telling me the line of least resistance is up.

It may take 6 months to a year, but I would be tormented by an extremely upset stomach if I were not long at this time.

(Obligatory disclaimer: Please don't take this as investment advice, perhaps I just ate some bad shellfish and my gut is angry for a different reason

[dHe_zHiq]

I see in the market there is no dumper acting with large nominal, this may be a sign of bitcoin will continue to rise in price

[JorgeStolfi]

There's been hundreds of millions of usd invested in bitcoin startups. I sometimes wonder if even one or two of these entities or their investors are using a few mil to stave off further declines. Not trying to run a rally all by themselves, but putting a floor, and at least sow some doubt in the minds of weak handed hodlers and shotrers.

Charles Lee (Litecoin's mommy, now at Coinbase) was once asked that in a reddit AMA.  He explained that Coinbase cannot use any of their VC capital for that purpose.  

I am not sure, but there may even be laws in the US that prohibit a startup from using its VC capital for speculation or to invest in other things.  Perhaps because of tax reasons.

It also does not make sense for VC investors to give several million of their money to some computer nerds for them to play the market.  If the VC investor wanted to speculate with his money, he would do it himself, or hire experienced traders.

However a company that wants to start a bitcoin fund may legitimately buy bitcoins.  IIRC, when Tim Draper bought the first batch of USMS bitcoins, he said that they would provide liquidity for a company called Vaurum (that Nick Szabo worked for, BTW) and now has some other name.

[ChartBuddy]

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[Cconvert2G36]

There's been hundreds of millions of usd invested in bitcoin startups. I sometimes wonder if even one or two of these entities or their investors are using a few mil to stave off further declines. Not trying to run a rally all by themselves, but putting a floor, and at least sow some doubt in the minds of weak handed hodlers and shotrers.

Charles Lee (Litecoin's mommy, now at Coinbase) was once asked that in a reddit AMA.  He explained that Coinbase cannot use any of their VC capital for that purpose.  

I am not sure, but there may even be laws in the US that prohibit a startup from using its VC capital for speculation or to invest in other things.  Perhaps because of tax reasons.

It also does not make sense for VC investors to give several million of their money to some computer nerds for them to play the market.  If the VC investor wanted to speculate with his money, he would do it himself, or hire experienced traders.

However a company that wants to start a bitcoin fund may legitimately buy bitcoins.  IIRC, when Tim Draper bought the first batch of USMS bitcoins, he said that they would provide liquidity for a company called Vaurum (that Nick Szabo worked for, BTW) and now has some other name.

My speculation leaned towards the high net worth individuals who owned stakes in these firms, pushed the investments in bitcoin companies, and shouldn't be legally required to report their activities when using personal funds.

Edit: redundancy and first 400 coin miniwall at 241.5 (eaten)

[Sitarow]

15 Mins Later


40 Mins Later

[ChartBuddy]

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[AceWallen]

what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic.

[JorgeStolfi]

what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic.

There is a thread on reddit about it.

[Stevenirving]

what's gonna happen with this coinwallet.eu stress test? sounds like it could cause a panic.

I am really wondering if this will cause a price shift on Monday.

[shmadz]

Just wanted to wish the short term traders congratulations and best of luck. These are the kind of moves that will save your week.

Beautiful retracement there, might want to cover now?


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On the other hand, I would like to reiterate what I'm seeing long term:

This looks like a bottom consolidation to me.. but I am full enough that I will wait for better prices, and I think many others are in the same boat. Block reward does not change for at least one more year, patience seems to rule the day, boring as that may be.

[ChartBuddy]

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[ChartBuddy]

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[marrw]

Well, now i'm really confused. It seems we bounced from the upper trendline, so the price can only go down now...
Huobi chart shows it very well:

https://i.imgur.com/0yOUoJH.png

But what gives hope, are those strong, and not faked BID walls on finex. Problably someone want to buy significant amount of btcs and not bring price to the moon

[ChartBuddy]

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[inca]

Lots of coins sold to bring us back to 240. Shorts up a fair bit. Let's see if we snap back.

I'll buy if we dip to the 230's.

[ChartBuddy]

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