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

[ChartBuddy]

Coin

Explanation

[tarmi]

Usually the second attempt to break the resistance is weaker and leads to dumping.

[ChartBuddy]

Coin

Explanation

[r0ach]

i'd love to see my stash worth more but realistically there are bitcoin auction in Nov, then Dec is holiday season.  i dont really think we will break 300 soon.

The auctions don't really negatively or positively affect price.  If anything, they will positively affect it after someone gets a huge stash then tries to manipulate it up.

[ChartBuddy]

Coin

Explanation

[Fatman3001]

I'm not an anrcho-capitalist-liberal-libertarian-anti-corporation-anti-statist... but, if you want to know why I think Bitcoin is important and why it's wise not to use your own name in every blimmin account on the internet, in the name of "being honest, being real". Especially sites like Twitter, Facebook, Google, et al.

Well here it is: http://brettpthomas.com/online-porn-could-be-the-next-big-privacy-scandal.html

Porn is, of course, a saucy subject. But I might not want my business partners, or people I have dealings with, to have immediate access to all my opinions on economics, Israel-Palestine, Animal Cruelty, and so on. Even my Star Trek Movie rankings is probably best lost in the great sea of stupid opinions.

We have a whole generation of kids who are thought to be "careful with the internet", but at the same time are strongly encouraged to sign every daft thought or picture with full name and address. People are going to get hurt by this.

[gentlemand]

i'd love to see my stash worth more but realistically there are bitcoin auction in Nov, then Dec is holiday season.  i dont really think we will break 300 soon.

btw i hope i was wrong.

I don't think auctions are a factor any more. And people make too many excuses for the time of year. Post Christmas it's 'everyone's broke, wait till spring.' Come spring 'It's the summer soon. Sell in May and go away. Maybe we'll see something in October/November'. Now 'it's Christmas soon. No one's spending.'

Going on that we have a 3-4 day window in late September where there are actually any people attending the Bitcoin market.

[marcus_of_augustus]

wall on itBit needs some observing.

[ChartBuddy]

Coin

Explanation

[billyjoeallen]

i'd love to see my stash worth more but realistically there are bitcoin auction in Nov, then Dec is holiday season.  i dont really think we will break 300 soon.

The auctions don't really negatively or positively affect price.  If anything, they will positively affect it after someone gets a huge stash then tries to manipulate it up.

and you don't think they will try to manipulate it down prior to the auction?

[ImI]

wall on itBit needs some observing.

true, seems like some volume to be seen there

[Elwar]

i'd love to see my stash worth more but realistically there are bitcoin auction in Nov, then Dec is holiday season.  i dont really think we will break 300 soon.

btw i hope i was wrong.

I don't think auctions are a factor any more. And people make too many excuses for the time of year. Post Christmas it's 'everyone's broke, wait till spring.' Come spring 'It's the summer soon. Sell in May and go away. Maybe we'll see something in October/November'. Now 'it's Christmas soon. No one's spending.'

Going on that we have a 3-4 day window in late September where there are actually any people attending the Bitcoin market.

The auction does tend to move the price up and down due mainly to uncertainty.

Fortunately though, this is the last one. That should clear the way afterwards for an upward direction.

[noobtrader]

i'd love to see my stash worth more but realistically there are bitcoin auction in Nov, then Dec is holiday season.  i dont really think we will break 300 soon.

btw i hope i was wrong.

I don't think auctions are a factor any more. And people make too many excuses for the time of year. Post Christmas it's 'everyone's broke, wait till spring.' Come spring 'It's the summer soon. Sell in May and go away. Maybe we'll see something in October/November'. Now 'it's Christmas soon. No one's spending.'

Going on that we have a 3-4 day window in late September where there are actually any people attending the Bitcoin market.

The auction does tend to move the price up and down due mainly to uncertainty.

Fortunately though, this is the last one. That should clear the way afterwards for an upward direction.

auction certainly move the price down a bit, ppl will wait for auction result before buying imho, i agree that should clear the way afterwards for an upward direction after the auction.

[tarmi]

there won't be any results, just usual post auction slow dump. 

also, a lot of mtgox coins left to be auctioned off.

[r0ach]

there won't be any results, just usual post auction slow dump.  

Nobody is buying coins at an auction when they usually have to pay a premium in order to dump them right after.  Only way this is happening is if nobody bids except like one guy, but that's clearly not the case.

[ChartBuddy]

Coin

Explanation

[marcus_of_augustus]

there won't be any results, just usual post auction slow dump. 

https://twitter.com/panteracapital/status/652560521770614784

tarmi ... you can buy them here to dump

[JorgeStolfi]

The auction does tend to move the price up and down due mainly to uncertainty.
Fortunately though, this is the last one. That should clear the way afterwards for an upward direction.

The announcement of the first USMS SR auction (2014-06-27; won by Tim Draper) apparently caused a drop in the price on 2015-06-11, from ~650 to ~590, that was reversed on 2014-06-30 when the result was revealed.

The second auction (2014-12-04; won by a SecondMarket syndicate and a small bid by Tim Draper) had no discernible effect on price, that remained pretty stable at ~375 for about a week before and a week after it.

Abut a week before before the third auction (2015-03-05; won by itBit), the price rose from ~240 to ~280, but probably for other causes.  It remained stable through the auction, and had another small rise a few days later.   

So it would seem that, after the first one, the market got used to the USMS auctions and ignores them (or "prices them in" well in advance).

This is the last USMS SR auction, but two more have been announced: the auction of ~24'500 BTC by the Australian government, and the auction or return of ~200'000 BTC by the MtGOX trustee, maybe by the end of the year.

[muyuu]

The auction does tend to move the price up and down due mainly to uncertainty.
Fortunately though, this is the last one. That should clear the way afterwards for an upward direction.

The announcement of the first USMS SR auction (2014-06-27; won by Tim Draper) apparently caused a drop in the price on 2015-06-11, from ~650 to ~590, that was reversed on 2014-06-30 when the result was revealed.

The second auction (2014-12-04; won by a SecondMarket syndicate and a small bid by Tim Draper) had no discernible effect on price, that remained pretty stable at ~375 for about a week before and a week after it.

Abut a week before before the third auction (2015-03-05; won by itBit), the price rose from ~240 to ~280, but probably for other causes.  It remained stable through the auction, and had another small rise a few days later.   

So it would seem that, after the first one, the market got used to the USMS auctions and ignores them (or "prices them in" well in advance).

This is the last USMS SR auction, but two more have been announced: the auction of ~24'500 BTC by the Australian government, and the auction or return of ~200'000 BTC by the MtGOX trustee, maybe by the end of the year.

When price drops it's "apparently because of the auction" and when it rises, it's "probably for other causes".

[ChartBuddy]

Coin

Explanation