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

[Elwar]

If these big jumps are coming from a single Chinese exchange then that is cause for concern for anyone on that exchange.

I used to trade on Bitcoinica way back in the day when it was the only place you could margin trade. At the time I had about 700 bitcoins that I would use to do some margin trading. I started to notice that just as my short or long was about to start making money there would be one of these huge movements in the opposite direction to the point where I would get squeezed. Once or twice would be a fluke but after so many times and several other people having a similar experience I pulled the rest of my bitcoins off of there (about 4-500). A week later they got "hacked". Later on there was some talk of Zou tong's friend/colleague was manipulating the price to squeeze people's trades.

I figured those days were behind us because it would take a lot of money to move the market that much. But who knows, maybe the chinese exchanges are just changing numbers in a database to move the price. Either way, be wary of doing margin trading or keeping your money on that exchange.

[Bitcoinbro]

Bullshit drop if I've ever seen one. This is going way up!

Yes indeed just a small drop and now we going to go up high, thinking 700-750 before the next stall.
Calling on 1k in 2017 if nothing out of the ordinary happens. it's growing so much again makes me giddy

[AlexGR]

Despite the price drop after the finex hack, diff keeps increasing...


Difficulty History

Date   Difficulty   Change   Hash Rate
Sep 12 2016   225,832,872,179   2.30%   1,616,574,667 GH/s
Aug 29 2016   220,755,908,330   1.56%   1,580,232,344 GH/s
Aug 15 2016   217,375,482,757   7.67%   1,556,034,316 GH/s
Aug 02 2016   201,893,210,853   -5.43%   1,445,207,896 GH/s
Jul 18 2016   213,492,501,108   0.04%   1,528,238,850 GH/s
Jul 04 2016   213,398,925,331   1.88%   1,527,569,009 GH/s
Jun 21 2016   209,453,158,595   6.83%   1,499,324,110 GH/s
Jun 08 2016   196,061,423,940   -1.63%   1,403,462,340 GH/s


Estimated Next Difficulty:   230,216,553,681 (+1.94%)
Adjust time:   After 1993 Blocks, About 13.5 days
Hashrate(?):   1,725,597,215 GH/s

[Spaceman_Spiff]

Now that i have analyzed the time at where the selling started at different exchanges (huobi, finex, stamp), it is obviously coordinated. No way that random people start to sell on 3 major exchanges at the very same 1-3 minute time frame (21:12 UTC, on a Sunday evening, riiight). Organized dump, nothing to see here.

They probably been preparing for this for hours/days. (You need to load up btc on different exchanges, than start selling at the very same time on those exchanges, for an obvious loss i might add - i would just use an OCT service for unload large amount of btc, less hassle, better price - clear manipulation.)

https://en.wikipedia.org/wiki/Arbitrage

Yes, well, that needs time to react/deposit/organize. No way, you can arbitrage in less than 30 sec, between different regions, unless you have substantial amount of deposits on different exchanges at the same time, and watching/running bots, and still, that would only be reactionary, not preemptive.

People don't program arbitrage bots to not have them running.

[Andre#]

If these big jumps are coming from a single Chinese exchange then that is cause for concern for anyone on that exchange.

I used to trade on Bitcoinica way back in the day when it was the only place you could margin trade. At the time I had about 700 bitcoins that I would use to do some margin trading. I started to notice that just as my short or long was about to start making money there would be one of these huge movements in the opposite direction to the point where I would get squeezed. Once or twice would be a fluke but after so many times and several other people having a similar experience I pulled the rest of my bitcoins off of there (about 4-500). A week later they got "hacked". Later on there was some talk of Zou tong's friend/colleague was manipulating the price to squeeze people's trades.

I figured those days were behind us because it would take a lot of money to move the market that much. But who knows, maybe the chinese exchanges are just changing numbers in a database to move the price. Either way, be wary of doing margin trading or keeping your money on that exchange.

I'm with you. Yesterday's drop could (if no manipulation took place) only be a long squeeze. But how likely is a cascading long margin call bringing the price down 9% after 8 days of rally? You'd expect a short squeeze, not a long squeeze.

[European Central Bank]

But who knows, maybe the chinese exchanges are just changing numbers in a database to move the price.

yep. there is absolutely nothing to stop them from doing that. logic dictates that that's what they're gonna get up to.

[reddibrek]

I figured those days were behind us because it would take a lot of money to move the market that much.

There is a lot of money to be made also. It would be very foolish to think for one instant that in a totally unregulated market this stuff isn't happening, especially considering we are talking about those in charge of the tools that make this unregulated market possible.

[becoin]

I figured those days were behind us because it would take a lot of money to move the market that much.

There is a lot of money to be made also. It would be very foolish to think for one instant that in a totally unregulated market this stuff isn't happening, especially considering we are talking about those in charge of the tools that make this unregulated market possible.

It would be very foolish to think for one instant that in a totally unregulated markets this stuff isn't happening.

[toknormal]

Winky ETF news.

[ImI]

1st July "news"

[LFC_Bitcoin]

Winky ETF news.

Believe it when I see it, been hearing bull shit rumbling on about this from them for years now.

[European Central Bank]

Believe it when I see it, been hearing bull shit rumbling on about this from them for years now.

stuff like this does not run on a time scale to keep the little people happy. it lumbers on like a supertanker. there's a lot on the line if the sec approve it. they'll take as long as they want and they don't lose anything by extending it until they're satisfied either way.

[Johnyloco]

Hey Adam, where do you roll these days? I think I might start gambling again.

[Elwar]

Winky ETF news.

July 1st news?

We're waiting for October for the ruling to be extended another 3 months before it gets extended 3 months.

[JimboToronto]

Good morning Bitcoinland.

Bit of a dip yesterday I see.

Went out drinking after the ball game and woke up to see that we lost almost half of last week's gains.... currently $608 on Bitcoinaverage.

Up $50 and back down $20. Hopefully that was just a normal small correction and we can start going up again.

It did seem to indicate solid support at $600.

[chopstick]

 insight for the day:

[toknormal]

More target practice for the cynics 

Post your contemptuous comments and derisive dismissals here ! 

[JayJuanGee]

insight for the day:

Funny cartoon, but really, no one is saying that... So the cartoon is engaging in a strawman attack, and you, chopstick, are engaging in the same strawman attack by circulating the same.   

[JayJuanGee]

More target practice for the cynics 

Post your contemptuous comments and derisive dismissals here ! 

That is a pretty bold number on a pretty short timeline.

Surely, $4,400 in less than 16 months is within reasonable possibilities, but I anticipate that it remains a less than 25% probability at the moment and under the current circumstances... Nonetheless, I would be delighted to witness such a number in such a short timeline... that is a bit more than a 7x increase from the current price, and it would be nearly a 20x increase from where the price was floating a year ago.... 

[European Central Bank]

https://www.finextra.com/finextra-downloads/newsdocs/mercado_bitcoin-_relat%C3%B3rio_santander.pdf

a Santander report on bitcoin. positive stuff overall.