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

[swogerino]

What drop?
I woke up and the price was the same when I went to bed.
Maybe it was all just a bad dream to most.

[d5000]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I expect a consolidation in the 1030-40's and then a new attempt to break 1000€ (1070USD). I continue to expect at least $1100 as a new local high but an new ATH looks difficult to me in the next month.

[Torque]

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

^fake news     lmfao

“There are a lot of people shorting bitcoin now, one because of the regulatory environment, another because the price is relatively high,” said Tian Jia, a Beijing-based trader of bitcoin. “The fact that PBOC continues to look into this issue might make people think that the whole thing isn’t over, and based on past trends, whenever the central bank holds meetings with exchanges the price will drop.”

bloomberg was surprisingly quick with this one. they almost brought it before the dump...  

No shit.  And then they went back in literally within minutes and edited/updated the article to reflect the price action, adding sensational words like "plummeted", cherry picking a recent chart from the last half hour.  All in real time.

They were just waiting on the drop from their "buddies".

Now tell me again how the media is not in bed with bitcoin manipulators?

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I've been on this forum for years now telling people that bitcoin buying/selling is not primarily driven by the Chinese people, and trolls made sure to come out and try to stomp on my posts every single time.  Now they can see the truth.

[Denker]

This time I'm really disappointed by the PBOC. Only 50$ (or ~4%) at the deepest point of the "crash" and still nobody wants to continue the shorting party ... (OK, we're 1% down comparing to yesterday, but that would be even a normal number in forex)

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I expect a consolidation in the 1030-40's and then a new attempt to break 1000€ (1070USD). I continue to expect at least $1100 as a new local high but an new ATH looks difficult to me in the next month.

Great post.I second that.
Furthermore I find it funny or better said ridiculous that people still fall the comments PBOC is making after fees have been introduced.
These guys definitely have an agenda running.But I hardly doubt they will ever ban Bitcoin.This is not going to happen.
One day they can announce whatever they want, Bitcoin will give a shit and continue rising in value.

[gembitz]

https://www.bloomberg.com/news/articles/2017-02-08/china-central-bank-said-to-call-bitcoin-exchanges-for-more-talks

^fake news     lmfao

“There are a lot of people shorting bitcoin now, one because of the regulatory environment, another because the price is relatively high,” said Tian Jia, a Beijing-based trader of bitcoin. “The fact that PBOC continues to look into this issue might make people think that the whole thing isn’t over, and based on past trends, whenever the central bank holds meetings with exchanges the price will drop.”

bloomberg was surprisingly quick with this one. they almost brought it before the dump...  

No shit.  And then they went back in literally within minutes and edited/updated the article to reflect the price action, adding sensational words like "plummeted", cherry picking a recent chart from the last half hour.  All in real time.

Now tell me again how the media is not in bed with bitcoin manipulators?

I think the PBOC's manipulation power is dwindling as we see now the real volume of Chinese Bitcoin trade. China is still strong in Bitcoin but not that dominant many believed only two months ago ...

I've been on this forum for years now telling people that bitcoin buying/selling is not primarily driven by the Chinese people, and trolls made sure to come out and try to stomp on my posts every single time.  Now they can see the truth.

#wallofchinaobserver!!!  

[Torque]

Bloomberg so busted... FAKE ASS NEWS

[Paashaas]

Fake news ore not what the PBOC did was discusting. I'm done with China, i cant wait untill the day arrives when Japan ore the west steps in taking away there power.

India needs to build a few very cheap nuclear powerplants asap for mining coins

[Ibian]

Would this shit even be legal in a regulated market? Not that we want that, obviously, just curious.

[Torque]

Would this shit even be legal in a regulated market? Not that we want that, obviously, just curious.

Actually it happens the U.S. equities market pretty routinely.  Media colludes with whale traders, and often publish fake rumors to either pump or dump small caps.  Insider trading is rampant.  Naked shorting is rampant. The SEC is in on it, as they often won't investigate even in the face of obvious evidence.

I imagine that they'll be able to milk a possible "bitcoin ban" for quite a while, as there are many countries out there.  Fake news will work until it doesn't.  They'll continue to find their "reasons" to dump bitcoin increasingly dwindle over time.

[MoneyIsDebt]

Would this shit even be legal in a regulated market? Not that we want that, obviously, just curious.

Actually it happens the U.S. equities market pretty routinely.  Media colludes with whale traders, and often publish fake rumors to either pump or dump small caps.  Insider trading is rampant.  The SEC is in on it, as they often won't investigate even in the face of obvious evidence.

I imagine that they'll be able to milk a possible "bitcoin ban" for quite a while, as there are many countries out there.  It'll work until it doesn't.

What we need is this!



He will make bitcoin crush the ATH if this photo was tweeted from his tweeter account.
With headlines:
Trump supports BiTcOiN!
 

[gembitz]

Fake news ore not what the PBOC did was discusting. I'm done with China, i cant wait untill the day arrives when Japan ore the west steps in taking away there power.

India needs to build a few very cheap nuclear powerplants asap for mining coins

Professor PBOCorn needs to just BUY and HODLLL!! 

[soullyG]

[gembitz]

It seems they're trying everything to keep it from rising past its ATH.

^let's make everyone happy and activate SegWit then still raise the blocksize limit to 2MB whereas lightning network will be rendered impractical :-D i think the leets don't care about higher fees as long as bitcoin pow remains intact! I think the rush to embracing LNs' "low fees" solutions is profit driven! :\

[Cassius]

It seems they're trying everything to keep it from rising past its ATH.

I wouldn't go that far just yet. Today's fall wasn't as colossally dumpy as last time's 24h trip from $1166 to $840. Let's wait until PBoC tax exchanges on 110% of profits first.

[Holliday]

[JimboToronto]

Good morning Bitcoinland.

Price still rising I see... $1063USD (Bitcoinaverage). Only up about $5 from where it was at midnight UTC but up is still up and today's candle is still a lovely green color.

Seems there were some PBOC shenanigans overnight but at least most people didn't freak out too badly this time. Most are starting to learn not to panic like they did a month ago. Only a few sold their coins cheaply. Suckers.

If that didn't show that 4 digits are here to stay, nothing will.

Bitcoin Bozo... knock it down, it pops right back up.



Onward and upward. Go Bitcoin go.

[Fatman3001]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

You haven't noticed how PBOC actions tend to coincide with major technical levels? Everyone was waiting for 7500 to break. Same happened with the Christmas / New Years rally.

[HI-TEC99]

Seems there were some PBOC shenanigans overnight but at least most people didn't freak out too badly this time. Most are starting to learn not to panic like they did a month ago. Only a few sold their coins cheaply. Suckers.

Newsbtc reminded me that the PBOC said it would be having more meetings with the exchanges two weeks ago. The PBOC will probably having more meetings with the exchanges throughout 2017. After a few more meetings another one won't even make the news.

The first one made people panic, but the following ones will create less and less of a market reaction until nobody gives a shit about them having yet another meeting.


http://www.newsbtc.com/2017/02/08/pboc-holds-another-constructive-meeting-chinese-bitcoin-exchanges/

Another PBOC Meeting, As Announced Two Weeks Ago

For some unknown reason, the market responded negatively to this new PBOC meeting. No one should be surprised by this announcement, as it was clear the bank would have more meetings with bitcoin exchanges. Just because there is a sit down does not mean bad news will be the outcome. Sources claim this new meeting revolves around AML procedures, although that had not been confirmed. Assuming that is the case, it seems unlikely the outcome can be negative for bitcoin.

[becoin]

How many times has China banned Bitcoin?

It's pretty clear by now that PBOC is manipulating the market.

Since when are minor price movements in either direction equal to market manipulation?

You haven't noticed how PBOC actions tend to coincide with major technical levels? Everyone was waiting for 7500 to break. Same happened with the Christmas / New Years rally.

What PBOC is doing is just the start. The real fun will start when other central banks join the party. Expect ECB to be the next one.

[Ted E. Bare]

Who sold at the bottom?