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

[Lauda]

It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?

Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense.

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[sirazimuth]

@ImI...

..."chinese government doesn't give a shit about law and individual rights".   fify

[bitcoinvest]

one fact we have until now. the market is very unstable with down trend and orders...
we see now a small bounce back but still we are down 75eur from what was 6 hours before... this is significant change in some hours...
about the future we don't know but i think the second wave is on the way of panic sellers. the news are spreading as we speak and some people with big amounts i think will choose to stay away with fiat for a while

[becoin]

BTC was rising too fast with no proper reasoning, this is the proper setback.
We need to implement new technologies and applications to the network before we can have a steady rise... lately, theses rises were just due to the bullish and delusional people that believe in the impossible.
For BTC expansion and major acceptance we need a stronger and bolder foundation, for now we are still looking if BTC should implement or not segwit, LN and other promising technologies if we are not implementing new solutions to the actual BTC problems the price shouldn't be rising like the last few weeks.
This dump was just a wake-up call(IMO), the price will surely increase in the future but we need to improve the technology first...

What are you blabbering about? Bitcoin price should be >$10000 by the end of this year!

[Biodom]

It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?

Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense.

Well, maybe the whole point is to make Chinese volume less frenetic.
less volume, less influence.
their volume will probably go from 40% to 10-20% shortly
It is better for us in the west.
Thanks, China!

[JosNekoKopa]

And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.

[bitcoinvest]

And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.

i believe should sell and buy back about $50 lower or maybe more....

by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....

 

[Chainsaw]

Today:
Buy the dip
Buy the dip
Buy the dip
Buy the dip
Buy the dip
Sell the bounce
Sell the bounce
Sell the bounce
Buy the dip
Sell the bounce
Buy the dip

Tomorrow:
Sell the bounce
Sell the bounce
Sell the bounce

Net: Same # BTC, a little fiat in pocket. Most likely resuming our upward trajectory. Loving the volatility. Not a bad day.

Jeeze - settle down, guys. Did you really need to extract fiat value from your bitcoin today?

This bloodbath will be over long before this day is. And then we'll resume our inexorable climb. Because -- whether or not they yet realize it -- the people of the world need a form of money that can be emailed p2p, and is free from the ravages of the vampire squid.

Downturns tend to be more protracted than we think they'll be - I'd go with your first call, personally :-)

[MinermanNC]

I don't believe what the Chinese do or don't do, has as big of an effect as in years gone by. This is nothing new for them to issue warnings, make threats etc. etc.

Each time it seems the impact has been less significant. Although there always is an immediate impact... but is shorter lived, and BTC recovers. If we don't get a 2nd wave of panic selling (which there may not be) I think this will shake out and we will be back on track. We shall see  

[becoin]

by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....

 

Too many people trying to login and buy cheap bitcoins. There won't be enough for all of them at current price.

[Killerpotleaf]

who dropped their bags of riches?  

[FCDenHaag]

Some China news from today

https://www.afp.com/en/news/2266/china-tightens-controls-bitcoin-trading-platforms

http://www.coindesk.com/chinas-bitcoin-exchanges-move-broadly-impose-new-fees/

[HI-TEC99]

It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?

Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense.

Well, maybe the whole point is to make Chinese volume less frenetic.
less volume, less influence.
their volume will probably go from 40% to 10-20% shortly
It is better for us in the west.
Thanks, China!

The PBOC claims its actions are intended to make Bitcoin price less volatile. Ironically every action it's recently taken has created a huge short term dump.

However, who's going to deposit Bitcoins to an exchange that's frozen withdrawals for the next month? If nobody deposits that's less Bitcoins China can dump to suppress the price.

Bullish.

[bitcoinvest]

by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....

 

Too many people trying to login and buy cheap bitcoins. There won't be enough for all of them at current price.

Well, can be people who want buy or people who want to sell. This we don't know. The point is, i was already connected and my session not timed out.. so maybe there is a hand behind?
What happened with my order for example? when i clicked the order next screen was the error 502....i am really angry...this is the moment that matters the most for us, i don't care how many want to login to buy or sale. i need be able to use the exchange...

[JimboToronto]

Good morning Bitcoinland. Damn, I wish I'd woken up earlier.

More shenanigans from the PBOC, more panicking by fools... currently $988USD (Bitcoinaverage).

At least the world isn't freaking out quite as much as a month ago. That was when mere rumors took the price from over $1100 down to $750. This time an actual freeze on Bitcoin withdrawals only dropped it by $150 and it's already halfway back. Maybe people are finally learning not to take China quite so seriously.

No time for coffee. Gotta run out and buy some coins while the price is under $1000. Might be the last chance. Luckily I got some fiat yesterday.

[Ibian]

Still the effect of real news is not bigger than the January fall to $800 and lower that happened for no concrete reason, at least until now

I guess the chinese are getting less power in the price, what their next move will be?

Next step would obv be to close a small exchange. Then, after several smaller ones, proceed with the bigger ones.

Then go after the miners. Then go after every retailer that accepts BTC.

oh, please, just cut it. If they wanted this, they would have done it long time ago.
high price as a threat? To what exactly? Sometimes communists have such idiotic notions.

Bitcoin is a threat to banking in general and to fiat manipulation by our noble overlords. The chinks are intelligent.

[RayX12]

It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?

Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense.

Well, maybe the whole point is to make Chinese volume less frenetic.
less volume, less influence.
their volume will probably go from 40% to 10-20% shortly
It is better for us in the west.
Thanks, China!

The PBOC claims its actions are intended to make Bitcoin price less volatile. Ironically every action it's recently taken has created a huge short term dump.

However, who's going to deposit Bitcoins to an exchange that's frozen withdrawals for the next month? If nobody deposits that's less Bitcoins China can dump to suppress the price.

Bullish.

Too many coincidences just before ETF gets approved..
This way manipulators could buy cheap coins and when ETF gets approved sell a x factor..
Bullish..

[MinermanNC]

Good morning Bitcoinland. Damn, I wish I'd woken up earlier.

More shenanigans from the PBOC, more panicking by fools... currently $988USD (Bitcoinaverage).

At least the world isn't freaking out quite as much as a month ago. That was when mere rumors took the price from over $1100 down to $750. This time an actual freeze on Bitcoin withdrawals only dropped it by $150 and it's already halfway back. Maybe people are finally learning not to take China quite so seriously.

No time for coffee. Gotta run out and buy some coins. Luckily I got some fiat yesterday.

Ya I think more people are saying screw china, I am keeping my coins! 

[becoin]

It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?

Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense.

Well, maybe the whole point is to make Chinese volume less frenetic.
less volume, less influence.
their volume will probably go from 40% to 10-20% shortly
It is better for us in the west.
Thanks, China!

The PBOC claims its actions are intended to make Bitcoin price less volatile. Ironically every action it's recently taken has created a huge short term dump.

However, who's going to deposit Bitcoins to an exchange that's frozen withdrawals for the next month? If nobody deposits that's less Bitcoins China can dump to suppress the price.

Bullish.

Here is what have happened.

During first meeting, one month ago, Chinese bitcoin exchanges were forced by PBoC directly or indirectly to sell part of customer bitcoins to suppress price. Of course, they were assured that the bank will financially compensate them if price moves in the opposite direction. Surprise, surprise, but not really. Price moved in the opposite direction! PBoC took huge loss and worst of all the exchanges now don't have enough bitcoin liquidity to meet customer withdrawals. So, the only logical step forward is to block bitcoin withdrawals under pretext that it was ordered by the bank for AML issues. If bitcoin price stays  above $800 Chinese bitcoin exchanges are toast. PBoC will never truly compensate them.

[bitcoinvest]

for all of you that you have problems login to Kraken

https://status.kraken.com/

As you will see also

Website  - Major Outage
API  - Major Outage
Support  - Degraded Performance

Now tell me one thing.... after you visit the site and see that API is not working also...


Who does the trades on Kraken?? Ghosts?