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

[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?

[pukis]

Who sold at the bottom?

blockchain specialist did 

[Torque]

The financial institutions and banks of the world are rushing to build infrastructure for their "blockchains", all the while bashing Bitcoin and casting the spectre of "Bitcoin is bad, blockchain is good".

But don't be surprised at all one day to look up, and these very same institutions will be like "Actually Bitcoin was great all along, and we're now all plugged in and ready to go."  And Bitcoin will be at $10K. 

[Paashaas]

The financial institutions and banks of the world are rushing to build infrastructure for their "blockchains", all the while bashing Bitcoin and casting the spectre of "Bitcoin is bad, blockchain is good".

But don't be surprised at all one day to look up, and these very same institutions will be like "Actually Bitcoin was great all along, and we're now all plugged in and ready to go."  And Bitcoin will be at $10K.  

Banksters will introduce a Bitcoin account service for the sheeps    

[rjclarke2000]

Well that was an interesting last 12 hours.

[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.

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.

Jus to be clear: I doubt what they're doing is part of a centrally decided policy. It's probably just the lower officials dealing with Bitcoin who found a way to make money off of it.

[JayJuanGee]

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.

That evidence is NOT conclusive in any kind of meaningful way, and you are drawing a lot of pie in the sky manipulation theories from a small set of evidence.

Yeah, granted that Bloomberg wants to spin bitcoin in a negative way, granted Bloomberg writes much of various articles before the anticipated event happens... but that does not mean that they have any control or coordination or insider knowledge... they are just prepared to spread their FUD at the drop of a hat.. and they have pre-fabricated FUD... so what?

[julian071]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

[600watt]

Edit: sold 40% of my stash today.

[JayJuanGee]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

Yeah, that 40% seems like a pretty high amount to sell - especially when we seem to be continuing to experience real decent upwards price pressures.  

I could understand selling 10% or 20%, but not much more than that.. but that is just me, and each person has to find his/her own comfort level.

Also, I personally do not leverage my bitcoin buys, and if you are either leveraging or buying more than you can  afford to lose, then sometimes you are going to feel more pressures to either lock in profits or to sell at points that may not be so clear or ambiguous in respect to the price direction.

Currently, my BTC/dollar allocation is about 93%, yet my target BTC allocation is about 92%, so in other words, I am about 1% more invested in bitcoin than would be my personally imposed authorization outline....  Therefore, I am kind of gambling with that extra 1% that I have dedicated towards BTC... in other words, I remain a bit bullish in these times, even though we have already experienced really decent upwards price movements in the past several months.

[PoolMinor]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

RXZlbmluZyBkb2ppIHN0YXIgaWYgY29uZmlybWVkIG9uIHRoZSBkYWlseS4gNDAlIG1pZ2h0IG5vdCB iZWVuIGEgYmFkIGNob2ljZSBhZnRlciBhbGwu

[gembitz]

>_>
Edit: sold 40% of my stash today.

^ouch    no you didn't!!

[Ted E. Bare]

Anyone still believe it is going down / due for a correction? Definitely up, at least till the SEC decision.

[JayJuanGee]

Who sold at the bottom?

I did. It's a local bottom though, only slightly disappointed in myself, could've done that a little more efficiently. Needed some cold hard cash and made a deal with myself to pay off some lones I made to invest in BTC right about now, so only slightly off target.

Edit: sold 40% of my stash today.

RXZlbmluZyBkb2ppIHN0YXIgaWYgY29uZmlybWVkIG9uIHRoZSBkYWlseS4gNDAlIG1pZ2h0IG5vdCB iZWVuIGEgYmFkIGNob2ljZSBhZnRlciBhbGwu

Yes Minorpool.. sooner or later you are going to be correct about an actual meaningful (15% or more) correction taking place - and my assessment is that the odds of such a correction may be a bit better now as compared to what they were in the lower $1,000s (while we were just passing through the resistance at that $1,000 level)...

So, yeah, I would not be surprised to witness a 15% or more correction taking place at any point between now ($1,055) and $1,180.  Nonetheless, this is bitcoinlandia - that frequently seem to enjoy overshooting any reasonable expectations... so therefore, I would not be surprised if no correction were to take place until $1,400 or greater....

Good to prepare for prices going into either direction... including you, Ted E. Bare.   

[Ted E. Bare]

I'm the most bullish and fluffy bear.

[JayJuanGee]

I'm the most bullish and fluffy bear.

Adorable, too.

 

[fr4nkthetank]

Anyone still believe it is going down / due for a correction? Definitely up, at least till the SEC decision.

Always buy the rumor and sell the news