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

[Cassius]

So I'm quite staggered at the lack of panic selling. Ok, we had a $100 drop, which wasn't great, but why isn't it more?
It suggests that there are plenty of Chinese speculators who are 1) Happy to pick up BTC and LTC and let them sit on an exchange for a MONTH before they pull them out, or 2) Who are hoping for a short-term bounce before they cash out, or 3) Who are terrified of withdrawing as fiat due to AML regs.
2) Doesn't ring true for me as I wouldn't expect enough people to support price here, and it's a very risky game.
Anyone have any insights?

Next 24 hours will be critical If hold 950$ line then go up, if not then go back to 800

Well maybe. But I can't get my head around the fact that the panicking hasn't already been more panicky. I mean, someone says your funds are locked for 30 days and how many will just take it on the chin rather than scramble to get them out asap?

Agree.. those news not so good for all traders in those exchanges... Maybe after month we see new dump..

Why wait a month? They're allowed to dump their bitcoin now. They just can't withdraw.
Dumb money dumpted their bitcoins yesterday. Smart money are accumulating taking advantage of this opportunity.

This is basically my point. The typical ratio of dumb:smart would usually point to a much dumpier dump.
Ah well, probably some explanation involving a badger or something.

[molecular]

Well maybe. But I can't get my head around the fact that the panicking hasn't already been more panicky. I mean, someone says your funds are locked for 30 days and how many will just take it on the chin rather than scramble to get them out asap?

Scramble to get them out how? Via fiat will have the same "privacy" implication as just keeping on trading, waiting 1 month and identifying yourself to the exchange/gvt.

So it's all the same, really, no?

[Oblodo]

Nobody think this drop kinda correlate with the fact that Norway just removed VAT on BTC and suddenly made it waaaaay easier for Norwegians to sell their coins? 25% VAT is a lot. Loads of first miners and adopters in that filthy rich country... a friend sold 2000 coins yesterday to an known investor. And more like him did the same.

you mean he sold hand to hand right? without any VAT applying to this transaction as i understand and the investor has to deal with the VAT?

To do a legal OTC deal no VAT now. The seller had to add 25% VAT before, making legal sales very few before. Some very wealthy investors now saw this as an opportunity to buy in.  Just saying. Not all China. But then again China...

[jackjack]

Well maybe. But I can't get my head around the fact that the panicking hasn't already been more panicky. I mean, someone says your funds are locked for 30 days and how many will just take it on the chin rather than scramble to get them out asap?

Scramble to get them out how? Via fiat will have the same "privacy" implication as just keeping on trading, waiting 1 month and identifying yourself to the exchange/gvt.

So it's all the same, really, no?

The difference is that if you get them out via fiat you know you have the money, but if you keep them in an exchange you might not see them again in 30 days
Or not all of them (ohai Cyprus)

[lemmyK]

Where is that circlejerk jinglunag 

https://twitter.com/realDonaldTrump/status/830047626414477312

[d5000]

This morning I thought: "Oh, the price evolution seems fairly stable after the dump. It could be even bullish. And there was no second Chinese dump."

But now I see the micro-uptrends are weaker every time - like outlined in the "Three dead kitten theory". So unfortunately I expect another dump coming in, probably this weekend. 850 is approximately the value where a reversal back to bullish territory could happen, but it could also go as low as 735-780 again.

[Searing]

So I'm quite staggered at the lack of panic selling. Ok, we had a $100 drop, which wasn't great, but why isn't it more?
It suggests that there are plenty of Chinese speculators who are 1) Happy to pick up BTC and LTC and let them sit on an exchange for a MONTH before they pull them out, or 2) Who are hoping for a short-term bounce before they cash out, or 3) Who are terrified of withdrawing as fiat due to AML regs.
2) Doesn't ring true for me as I wouldn't expect enough people to support price here, and it's a very risky game.
Anyone have any insights?

Next 24 hours will be critical If hold 950$ line then go up, if not then go back to 800

Well maybe. But I can't get my head around the fact that the panicking hasn't already been more panicky. I mean, someone says your funds are locked for 30 days and how many will just take it on the chin rather than scramble to get them out asap?

Perhaps the folks are more prudent, since China started watching exchanges. Not keeping
Excess coin on exchanges at all.  I even move 'dust change' out when completing transaction.
Maybe they are not sweating the change in the exchanges as a result.

[Arcteryx]

Bottom should be 950$ and 900€ approximately.

No disaster indeed. Bottom is holding. Screw the manipulators and bankers.

But there was something that resembled one when someone released the Kraken.
People got 404 pages and panic ensewed thinking it was another bitfinex situation.
The price did drop below then what it was when America went to bed last night. By 30 bucks or so.

[Lauda]

This morning I thought: "Oh, the price evolution seems fairly stable after the dump. It could be even bullish. And there was no second Chinese dump."

But now I see the micro-uptrends are weaker every time - like outlined in the "Three dead kitten theory". So unfortunately I expect another dump coming in, probably this weekend. 850 is approximately the value where a reversal back to bullish territory could happen, but it could also go as low as 735-780 again.

Why the pessimism today? Most people get terrified when you mention the 800 range, and now you're telling them 700?

Where is that circlejerk jinglunag 

https://twitter.com/realDonaldTrump/status/830047626414477312

I'm not sure what exact relevance this tweet has to this thread?

[lemmyK]

What's he doing here is a better question.

[lemmyK]

Becouse if only your wish IS  high exchange price BT to usd ...so we can not seriously and scientifically discuss about bitcoin.
If the parasite beat its host ....die    BTC-USD    or EMP 

[swogerino]

It's at $967 right now. So what is there to worry about?
Thought it would be much worst when I got up this morning with all the fuss last night with China waking up to closed doors to their member's exchanges.
But then there is the Kraken thing to deal with now.
That issue with their users not being able to access their accounts resolved yet?
I would think that would have more of an impact on bitcoin prices then all the hot air coming out of this PBoC fud.
Just China trying to be the drama queen again. That is all I got to say about that. So I slept soundly last night knowing that the price would still be above $950 which everybody seems to think it will bottom out at with all that crap yesterday gucking up the bitcoin world.

[toknormal]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[MinermanNC]

Well good morning, I see the price is right where it was yesterday when I posted saying that we are stable 

Yes I really think we are seeing China's woes have less and less an impact. I think Bitcoin is just to big now and people / investors have wised up and are not having knee jerk reaction to everything we hear and read from over there.

Now lets get back to 1000.00! I think we will 

[jaberwock]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

Trump being elected the US president was considered something with very small chance, according to the experts, too. After their fiasco I will never trust a expert when he says something is highly unlikely, better draw your own conclusions

[promomei]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

funny you 

[Cassius]

I would also give more credence to an outfit with more than 22 followers.

[BrewMaster]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

[600watt]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

i have seen bitcoin entering a multiyear downtrend based on a china ban that never existed. 

[Torque]

Shower thought:

The best way for the PBoC to keep Yuan in China is to sponsor/endorse the launch of their own Mainland China-based Bitcoin ETFs.