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

[600watt]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops...

moon ahead! /tinfoil hat off

[Genesis1337]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

4. Bitcoin becomes world reserve currency 

[Ted E. Bare]

PoolMinor still waiting for $800...

Sooner than you think

Are we there yet??

[r0ach]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

[rjclarke2000]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

[soullyG]

Slowly grinding upwards 

[bitcoinvest]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

+1.

It's the perfect timing to have all those 3 together happening, plus the idea

4. Bitcoin becomes world reserve currency 

HODL your Bitcoins if you are long term holders we have upwards trend that is good now

[r0ach]

"Science doesn't make it impossible to believe in God, it just makes it possible not to believe in God" - Steven Weinberg

Interesting quote from someone named "Weinberg" considering the first thing the Jews did after Moses left is build a statue out of gold and worship it as their god:

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

[becoin]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

And 4)...
It could be neither of the 3 mentioned above. A lot of people just don't care about ETFs or Chinese exchanges. They want to have at least 1 full bitcoin.

[K~Ehleyr]

Something big is about to happen... I can tell because Kraken keeps timing out 

[HI-TEC99]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

And 4)...
It could be neither of the 3 mentioned above. People just don't care about ETFs or Chinese exchanges. They want to have at least 1 full bitcoin.

Maybe, but sometimes after a big exchange gets hacked it keeps it quiet and tries to make the lost coins back through the trading fee revenue. If the PBOC is auditing such an exchange it has to buy the lost coins back fast or get caught out. Options three plus people who want to have at least 1 full bitcoin could be jointly responsible for the latest step up to £1050.

[Ted E. Bare]

Buy every bitcoin?

[marcus_of_augustus]

Feels kind of poppy ... weird since we already banked a solid 50 buck run.

[bitcoinvest]

Something big is about to happen... I can tell because Kraken keeps timing out 

i can't see any timing out or anything not normal in my 2 computers.
Also here : https://status.kraken.io/  everything looks: Operational

The only thing i saw in Kraken was about 200 BTC for sale at 990€ that now are ~150... already 50 bought and look like will all be bought

If something big is about to happen maybe is that we will brake the 1.000€ ?

[marcus_of_augustus]

There are extremely few assets that are this uncorrelated with other assets and that makes bitcoin extremely desirable from a portfolio construction perspective.
...  it’s surprising that bitcoin’s correlation is this low, even among other store of value assets.

https://medium.com/@SignalPlot/what-is-bitcoins-correlation-with-other-financial-assets-ea169c2184f#.bq99cn8w8

[molecular]

Buy every bitcoin?

you're doing it wrong...

[rjclarke2000]

So now we've had a little drop I see. Did it get to €1000? Was that the sell signal?

[V1saya]

Seems like it really didn't went down to 800 this February. My fiat is still ready for bitcoin to go down 800sh. 

[Aviator019]

So now we've had a little drop I see. Did it get to €1000? Was that the sell signal?

nahh, top was at EUR 993

[mindrust]

Something big is about to happen... I can tell because Kraken keeps timing out  

I feel that too. It reminds me of 2013 thing somehow. I would short only %50 of my position but i listened my instincts and dumped everything away from 1020.

This prices can't go forever that high. It used to be so low that miners were profiting barely, and its now more than x2 of those prices. Smells like a dump fest.

People in 2013 also thought that it is going to reach 40k$ soon but it didn't happen. Same will happen again.