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

[readysalted89]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

[dakota neat]

give up. new ath in 4 weeks confirmed. sell now.

[inca]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

One of only a few decent attempts at FUD there are left to seriously dent the price now the downtrend line has been breached.

You better shout louder :p

[ChartBuddy]

Coin
Explanation

[LFC_Bitcoin]

I saw predictions of crashing back to the 220's yesterday . Looks like we're holding the 250's pretty strongly. I have no idea what the price is going to do in the short to medium term. If I had to try & predict something I'd say we could enter another period of sideways, maybe ranging between 240-270 for a few months now. Stability is good, I'll accept that to be honest, then we can start the next surge upwards. Hopefully breach 300 by the end of summer which will set us up nicely with a number of positive price changing possibilities in 2016.

[inca]

I saw predictions of crashing back to the 220's yesterday . Looks like we're holding the 250's pretty strongly. I have no idea what the price is going to do in the short to medium term. If I had to try & predict something I'd say we could enter another period of sideways, maybe ranging between 240-270 for a few months now. Stability is good, I'll accept that to be honest, then we can start the next surge upwards. Hopefully breach 300 by the end of summer which will set us up nicely with a number of positive price changing possibilities in 2016.

Just keep accumulating LFC.

[Hfertig]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

One of only a few decent attempts at FUD there are left to seriously dent the price now the downtrend line has been breached.

You better shout louder :p

I think we are looking at different charts. The latest bulltrap was a fake breakout on low volume and has confirmed the downtrend....

[rebuilder]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

You think a court is going to order the coins to be sold on some sketchy exchange? An auction seems more likely.

[ChartBuddy]

Coin
Explanation

[LFC_Bitcoin]

I saw predictions of crashing back to the 220's yesterday . Looks like we're holding the 250's pretty strongly. I have no idea what the price is going to do in the short to medium term. If I had to try & predict something I'd say we could enter another period of sideways, maybe ranging between 240-270 for a few months now. Stability is good, I'll accept that to be honest, then we can start the next surge upwards. Hopefully breach 300 by the end of summer which will set us up nicely with a number of positive price changing possibilities in 2016.

Just keep accumulating LFC.

As always my friend, as always **Thumbs Up**

[rjclarke2000]

I said I wouldn't but I feel a binge buy coming on.

[readysalted89]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

You think a court is going to order the coins to be sold on some sketchy exchange? An auction seems more likely.

I don't know what the court will decide. All I know is according to this site Japanese law has always forced  bankruptcy settlements to be paid in cash. However, there is a rule that if a committee of the majority of creditors is recognized by the court it might be able to demand payment in Bitcoins, but it would be the first time its ever happened.

https://www.cryptocoinsnews.com/mt-gox-creditors-demand-payment-bitcoins/

In Japan, all settlements in bankruptcy proceedings have always been in cash and any settlement approved for payment in a cryptocurrency would be a first, a landmark........

Daniel Kelman, a US Layer, resident in Taiwan, today informed the notified trustee to the Mt Gox bankruptcy, Nobuaki Kobayashi, of his intention to form a 'rebel group' of creditors seeking to receive their payments in the form of bitcoins.....

McLannahan explains that under Japanese law, a committee representing more than half of creditors has the power to “participate” in proceedings, so long as it satisfies certain conditions and is recognized by the court as representing the interests of creditors as a whole.

The context of the original post I addressed was about black swan events. The Japanese court ordering the Bitcoins to be sold on exchanges could be considered a black swan event. It would be unexpected, but not impossible.

[ChartBuddy]

Coin
Explanation

[Sitarow]

[inca]

Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ...

Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account

The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash.

You think a court is going to order the coins to be sold on some sketchy exchange? An auction seems more likely.

I don't know what the court will decide. All I know is according to this site Japanese law has always forced  bankruptcy settlements to be paid in cash. However, there is a rule that if a committee of the majority of creditors is recognized by the court it might be able to demand payment in Bitcoins, but it would be the first time its ever happened.

https://www.cryptocoinsnews.com/mt-gox-creditors-demand-payment-bitcoins/

In Japan, all settlements in bankruptcy proceedings have always been in cash and any settlement approved for payment in a cryptocurrency would be a first, a landmark........

Daniel Kelman, a US Layer, resident in Taiwan, today informed the notified trustee to the Mt Gox bankruptcy, Nobuaki Kobayashi, of his intention to form a 'rebel group' of creditors seeking to receive their payments in the form of bitcoins.....

McLannahan explains that under Japanese law, a committee representing more than half of creditors has the power to “participate” in proceedings, so long as it satisfies certain conditions and is recognized by the court as representing the interests of creditors as a whole.

The context of the original post I addressed was about black swan events. The Japanese court ordering the Bitcoins to be sold on exchanges could be considered a black swan event. It would be unexpected, but not impossible.

Not impossible, just an extremely unlikely, very low probability event.

Tarmi and the bears here might actually get their 2.5 year 'double digit' itch scratched in such a scenario.

It is far more likely that bitcoin instead does what it has done in the past and bubbles upwards eventually IMO. Betting on doomer outcomes isn't a great strategy

[tarmi]

double digits are not doom for anyone but bulltards.

bitcoin will be just fine.

[qwk]

The Japanese court ordering the Bitcoins to be sold on exchanges could be considered a black swan event. It would be unexpected, but not impossible.

Not impossible, just an extremely unlikely, very low probability event.

Tarmi and the bears here might actually get their 2.5 year 'double digit' itch scratched in such a scenario.

The possibility of the MtGox coins being unloaded on the markets is already priced in.
Be it by court order or by customers immediately cashing out their little share.
It won't have a sizable effect on the price anymore, sorry bears.

[inca]

double digits are not doom for anyone but bulltards.

bitcoin will be just fine.

Bitcoin is just fine. The market hasn't priced bitcoin in double digits for two years. Of course you are right and the market is pricing bitcoin incorrectly!

[simmo77]

double digits are not doom for anyone but bulltards.

bitcoin will be just fine.

I'm pretty sure you would also be pretty pissed if prices went down to double digits

[macsga]

http://cointelegraph.com/news/114714/btcgreece-founder-bitcoin-demand-has-risen

Would really like to see some proper numbers. How much new users is that? 50, 200, 1000?
Also can anyone from Greece actually tells if there is actually such user growth?

According to this article: http://www.lifo.gr/now/digital-life/69865 it seems like the CEO of Bitstamp reported about 79% rise from Greek customers. Talking with a friend today, the main concern is the issuing of IOUs and people try to convert to "assets" instead. There are companies that are willingful to take your euros out of Greece (and put them in an exchange account for you) in order to purchase BTCs from known exchanges.

Never expected it so soon, but Bitcoin seems to gain some *REAL* traction here in Greece.