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

[bitserve]

Notice over the last few months BTC may hit a pot hole or 2 or a dip in the road, but what's different these days, is it gets quickly back up to speed and carry's on. Didn't used to do that. 

I think that change is because now there is more "fast funds" available. There are many more exchanges available and also LOTS of funds on the alts markets. Before, it was needed some delay for funds to be transferred from banks to exchanges, now it's just a matter of switching coins when Bitcoin "gets cheaper".

Also there is a giant pressure upwards fueled by the crazy rise alts have had in the last couple of months that almost make Bitcoin be incredibly stable (and undervalued) in comparison. Ie: Ripple 1/4 of Bitcoin's market cap? What sort of joke is that?

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[MinermanNC]

Notice over the last few months BTC may hit a pot hole or 2 or a dip in the road, but what's different these days, is it gets quickly back up to speed and carry's on. Didn't used to do that. 

I think that change is because now there is more "fast funds" available. There are many more exchanges available and also LOTS of funds on the alts markets. Before, it was needed some delay for funds to be transferred from banks to exchanges, now it's just a matter of switching coins when Bitcoin "gets cheaper".

Also there is a giant pressure upwards fueled by the crazy rise alts have had in the last couple of months that almost make Bitcoin be incredibly stable (and undervalued) in comparison. Ie: Ripple 1/4 of Bitcoin's market cap? What sort of joke is that?

Ya you pretty much nailed it. Lots of cash in alts and which I have always felt is an underlying stability factor for BTC. And ya fast funds has to be some of it too, I hadn't weighed that factor yet lol,  and then there's ripple 

[HyphyBTC]

http://imagizer.imageshack.us/a/img923/1109/qC4LQ5.gif

I can not buy cheap bitcoins on monday !




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Just wait until after the ETF decision on Monday.

[DaRude]

Notice over the last few months BTC may hit a pot hole or 2 or a dip in the road, but what's different these days, is it gets quickly back up to speed and carry's on. Didn't used to do that.  

I think that change is because now there is more "fast funds" available. There are many more exchanges available and also LOTS of funds on the alts markets. Before, it was needed some delay for funds to be transferred from banks to exchanges, now it's just a matter of switching coins when Bitcoin "gets cheaper".

Also there is a giant pressure upwards fueled by the crazy rise alts have had in the last couple of months that almost make Bitcoin be incredibly stable (and undervalued) in comparison. Ie: Ripple 1/4 of Bitcoin's market cap? What sort of joke is that?

Ya you pretty much nailed it. Lots of cash in alts and which I have always felt is an underlying stability factor for BTC. And ya fast funds has to be some of it too, I hadn't weighed that factor yet lol,  and then there's ripple  

Yep all that money in shitcoins is waiting for a "correction" to jump back in. So what will happen if they don't see that correction  

[BlindMayorBitcorn]

Bitcoin pumping up to $2000 yet? :-D

~also radar FLORINS(bitcoin core peeps)

it's going to skyrocket!!!  

May I ask why you suggest Florins to Bitcoin core peeps specifically? I understand Florincoins are used in the decentralized internet protocol Alexandria. They seem interesting because of that. If Alexandria takes off, then they will likely be valuable.

I wish I would of picked some up when I first heard of Alexandria a coupleish years back. They were mega pumped the past 24 hours. Is there any reason for the huge pump, or are people just looking for stuff that is still undervalued in the generally massively over valued alt coin bull market?

I may invest a little, but I will wait for a correction.

These posts gave me cancer. Double ignored. Boom.

[tk3609]

Damn, with that rate we can see 2400$ in may alone.

[bitebits]

It's because they don't want to help spread awareness of Bitcoin to more Average Joes as being more valuable than fiat currency, and they want to continue to control the narrative surrounding Bitcoin.

Tinfoil-hat user spotted.  

Think what you want, but there is absolutely no love for Bitcoin in the mainstream media. Almost every article is negative, or they associate it with a bad event happening. You can easily fact check this. The negative articles outnumber the decent, more accurate ones by at least 100:1.  And every media talking head has something bad to say about Bitcoin. Again, easily fact checked.

Torque, have you seen this recent talk of Andreas Antonopoulos? It is exactly about your point regarding 'the news' in main stream media, and the real value of some fiat money versus bitcoin.

Fake News, Fake Money
https://www.youtube.com/watch?v=i_wOEL6dprg

[elite3000]

Above 1800 in Bitstamp again, and Bitfinex gap is only of $35

Has the bear raid ended already?

[Paashaas]

Impressive rebound to 'normal' so fast 

[Denker]

Impressive rebound to 'normal' so fast  

This is indeed impressive. In just 3 days we moved over $500.At first 300 down and then 200 up.
That's the reason why Bitcoin is the greatest rollercoaster. Nothing for people with weak nerves!

[Nagadota]

Impressive rebound to 'normal' so fast 

Kwukduck must be quaking in his boots.  I'm thinking the price is headed for another rally and ATH. 

Looks possible that it could just barely top $2,000 next week, and hover from $1900-2000 for a while.

[bitserve]

Impressive rebound to 'normal' so fast  

This is indeed impressive. In just 3 days we moved over $500.At first 300 down and then 200 up.
That's the reason why Bitcoin is the greatest rollercoaster. Nothing for people with weak nerves!

But it was a daily volatility of around 5-15% . At this heights, we need to get used to relate it to its percentage change and not the single dollars change. Imagine when Bitcoin prices in the several thousands.

[Lauda]

Impressive rebound to 'normal' so fast 

I must say that it is. My own "best-case" scenario was sticking above $1700 for a while, but here we are already around $1800. Prepare for the negative comments of the people who sold at the bottom though.

But it was a daily volatility of around 5-15% . At this heights, we need to get used to relate it to its percentage change and not the single dollars change. Imagine when Bitcoin prices in the several thousands.

The volatility is pretty low nowadays. Historical volatility is less than 3%.

[Nagadota]

But it was a daily volatility of around 5-15% . At this heights, we need to get used to relate it to its percentage change and not the single dollars change. Imagine when Bitcoin prices in the several thousands.

The volatility is pretty low nowadays. Historical volatility is less than 3%.

True, but the particular way that it's volatile may scare a lot of weak hands and institutional investors who are used to more stable growth.  The volatility may only be 2-3% (it's risen since the recent rallies from about 1.5%), but the difference is that during the day it could randomly drop $150 and then fly back up again.

The fundamentals are pretty off the rails as well and nothing is ever really predictable (Poloniex, ETFs, scaling etc).

Bitcoin volatility is kind of a self-fulfilling prophecy - people get scared of the volatility which makes them panic sell/buy, making it more volatile.

[kurious]

Impressive rebound to 'normal' so fast 

I must say that it is. My own "best-case" scenario was sticking above $1700 for a while, but here we are already around $1800. Prepare for the negative comments of the people who sold at the bottom though.

But it was a daily volatility of around 5-15% . At this heights, we need to get used to relate it to its percentage change and not the single dollars change. Imagine when Bitcoin prices in the several thousands.

The volatility is pretty low nowadays. Historical volatility is less than 3%.

Low?  It's only low compared to alts - compared to stocks, currencies, PMs, commodities.... it doesn't look it!

[Lauda]

True, but the particular way that it's volatile may scare a lot of weak hands and institutional investors who are used to more stable growth. 

You are telling me things that I have known for years. I don't really care about people led by emotions such as the two types listed by you.

Bitcoin volatility is kind of a self-fulfilling prophecy - people get scared of the volatility which makes them panic sell/buy, making it more volatile.

I can agree with this.

Low?  It's only low compared to alts - compared to stocks, currencies, PMs, commodities.... it doesn't look it!

You do realize that it recently, albeit briefly, had a lower volatility than the Euro? Anything sub 5% in the historic volatility (as per that website) is great. Furthermore, Bitcoin seems to be on the track to reach standard currency volatility.

[DeathAngel]

Impressively quick recovery, I'm hoping for & looking forward to another rally in the coming week.

[JayJuanGee]

 

Low?  It's only low compared to alts - compared to stocks, currencies, PMs, commodities.... it doesn't look it!

You do realize that it recently, albeit briefly, had a lower volatility than the Euro? Anything sub 5% in the historic volatility (as per that website) is great. Furthermore, Bitcoin seems to be on the track to reach standard currency volatility.

Yes.... The M1 ranking of bitcoin is slowly becoming higher and higher and higher, and the M1 ranking demonstrates a bit of the increasing marking cap.  Of course, an increasing market cap will make manipulaiton more difficult and decrease volatility.


  A year ago, Bitcoin's M1 ranking was close to 100, and recently, in the $1800 price territory, Bitcoin's M1 ranking is around 59.  Maybe going to be in the top 50 M1 rankings, soon.

[HI-TEC99]

Bitstamp's crashed slightly below the $1800 ATH from three days ago again!

[gbianchi]

  A year ago, Bitcoin's M1 ranking was close to 100, and recently, in the $1800 price territory, Bitcoin's M1 ranking is around 59.  Maybe going to be in the top 50 M1 rankings, soon.

where you take the rank ?

I know about coinometrics but it is broken now....