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

[SlipperySlope]

doesn't anyone else see the similarities?

Yes. Perhaps the rate of decline is faster this time because traders have the first bubble as a reference.

[The-Real-Link]

$95's almost here.

[just1nmc]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

no bad news?
what are you talking about?
btc24 is history along with +5M $
bitfloor stoped trading (AML reasons probably too)
it just hasn't made it to the news yet


 

Well, news of that scale was happening on the way up too. The chain fork, instawallet and bitcoin-central, bitinstant, etc..

None of it really compares to MtGox getting hacked in 2011.  

I think the good news has by far outweighed the bad. But that's just my opinion.

[fitty]

There's still a million dollar wall at $70. What are the chances that someone will get us past that?

I'd say 100% when it's pulled.

This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?   

I'm calling bullshit on the support, if it falls to the wall after any further significant rise, it's going down to the next level which would be the $50 support.

At that point I have to wonder if there will be enough downward momentum to break through it.

I call bullshit on the 10k-15k-20k-25k bitcoions that would have to be sold at $80 and $70 and $60 and $50 to get there. The panic sellers have left the building. If you're not interested in selling your 5k bitcoins at $90-$95, you'll have even less interest on selling them on the way down. There's really one guy with 50k bitcoins who is just going to exit the market and drive it down to $50? Last 12 hours we have highs of 98, lows of 83. If you really were itching to sell, you'd be out now. Any drops now is just a chance to buy back in. Everyone who thinks we're going to $20-$30-$40-$50, they've sold their coins. Those people aren't holding right now at $95.

[samson]

I call bullshit on the 10k-15k-20k-25k bitcoions that would have to be sold at $80 and $70 and $60 and $50 to get there. The panic sellers have left the building. If you're not interested in selling your 5k bitcoins at $90-$95, you'll have even less interest on selling them on the way down. There's really one guy with 50k bitcoins who is just going to exit the market and drive it down to $50? Last 12 hours we have highs of 98, lows of 83. If you really were itching to sell, you'd be out now. Any drops now is just a chance to buy back in. Everyone who thinks we're going to $20-$30-$40-$50, they've sold their coins. Those people aren't holding right now at $95.

So we wait and see.

[ineededausername]

BTC comeback time!  I see the spring coiling at $95.  I remember what happened the last time...

[Luis_GT]

Volume is rather low right now... Unless there's a sudden increase in volume past 95, I don't think the rally will be sustainable... I think it may dip down to 85 before a substantial breakout appears.

[michaelGedi]

let's not forget:

http://www.bitcoin2013.com/

and

http://www.time.com/time/magazine/article/0,9171,2140782,00.html

among the other good news. Bitcoin-24 and Bitfloor are just teething problems that need to be pulled out because they were never going to keep up, I suggest.


... 30 days time it's picking up whatever happens in my opinion.

This is purely based on hunch, but I feel that "awareness" is only really just beginning. Let's hope the infrastructure grows exponentially so it can cope and the manipulators grow some ethical balls and get involved in business with all their coins and capital instead of just pumping up a volatile and unstable market to make money in the short term.


EDIT - I have no idea what I'm talking about I've been into Bitcoin for 10 days

[notme]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

no bad news?
what are you talking about?
btc24 is history along with +5M $
bitfloor stoped trading (AML reasons probably too)
it just hasn't made it to the news yet


 

What AML violation can you site any evidence for?  I would bet it's forced bankruptcy.

[just1nmc]

Also, the crash hasn't gotten rid of investment interest. I'm sure Loaded isn't the only one getting new clients.

[bayamos]

Bitcoin on the Colbert Report tonight. Colbert bump to incoming fiat?

[Luis_GT]

Volume is rather low right now... Unless there's a sudden increase in volume past 95, I don't think the rally will be sustainable... I think it may dip down to 85 before a substantial breakout appears.

Damn... missed the low by a dollar... 

[fitty]

Interesting. The ask wall just decided to slam itself into the bid wall. All at once. Seems like a strange way to dump 4k coins.

[Sitarow]

[Frozenlock]

Here's the volume 

[Terpie]

Someone sold thousands of coins and then threw up a 4k ask wall at 88, and the bids would not budge. They started buying into the wall and then it was pulled. Bullish sign.

[fitty]

Someone sold thousands of coins and then threw up a 4k ask wall at 88, and the bids would not budge. They started buying into the wall and then it was pulled. Bullish sign.

Yeah why slam into the wall, push it back, then put up a wall to keep it down? Clearly trying to drive the price down, I don't see why else you'd do that. It's not making you more money.

[just1nmc]

Someone sold thousands of coins and then threw up a 4k ask wall at 88, and the bids would not budge. They started buying into the wall and then it was pulled. Bullish sign.

Yeah why slam into the wall, push it back, then put up a wall to keep it down? Clearly trying to drive the price down, I don't see why else you'd do that. It's not making you more money.

It's amazing to watch. Before it would have created panic and lag. MtGox is handling things much better, and those left with coins seem to be much more content to hold them.

[fitty]

Someone sold thousands of coins and then threw up a 4k ask wall at 88, and the bids would not budge. They started buying into the wall and then it was pulled. Bullish sign.

Yeah why slam into the wall, push it back, then put up a wall to keep it down? Clearly trying to drive the price down, I don't see why else you'd do that. It's not making you more money.

It's amazing to watch. Before it would have created panic and lag. MtGox is handling things much better, and those left with coins seem to be much more content to hold them.

A lot less panic in the market. Way more buying pressure. It will be back to 95 shortly. Thanks for the 11k coins.

[adamstgBit]

2011 post bubble was one disaster after the next, everyone had to keep reminding themselves what counts is the protocol wasnt hacked, and their was a gr8 deal FUD that bitcoin was only useful for dealing drugs, and it really was just a fad... This scared off a lot of people when bitcoin was still trying to get some reasonable critical mass going (needless to say it really HURT bitcoin)... This time everything is just F'in dandy, so we'll have a U shaped recovery and then continue making new highs, it will pop AGAIN ( at 500? ) and then another U shaped recovery and continue making new highs! thats right people the dash for digital cash get ready... set... GO!