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

[KillaMarci]

If those are bots, why are they trading such small volumes?

who would trust large amounts of coins to a bot

Oh so those were bots from lots of different people? I thought those were just from a few people that have bots running. I was wondering why those bots would spam multiple 0.01 trades instead of one bigger trade. Makes more sense now.

Someone just dumped 900BTC for around $120k

[elux]

Mtgox trading engine lag: 10.09s

[batcoin]

This is probably reported somewhere more appropriate but there's a half hour programme 'The Report' on Bitcoin on BBC Radio 4 right now.

alpacas talking everywhere these days.

That reminds me, while Proudhon's latest bull-stance is off-putting it's been a while since he has popped up here. Where is our friendly bear in bull's clothing?

Is he not a bull in bear's clothing?

Something like this, perhaps?

A Tauren druid?

[adamstgBit]

Just testing $145 as expected, nothing weird going on here.

Test Failed.

 PANIC SELL ALL THE WAY DOWN TO 141.717!

Quickly now!

Almost there Adam!

time to buy.

[batcoin]

Just testing $145 as expected, nothing weird going on here.

Test Failed.

 PANIC SELL ALL THE WAY DOWN TO 141.717!

Quickly now!

Almost there Adam!

time to buy.

I'm goddamned dyslexic. I thought I read 141.17. well, looks like you got the price you wanted!

[molecular]

Those small 0.01 transactions, are those just bots or was that a poor DDOS attempt?

both

a DDOS is by definition done by bots and such trading bots are effectively DDOSing.

you're probably asking about the intention, though. I don't know that.

[thoughtfan]

Situation looks very similar to April 7th from that graph, volume numbers are also similar. Main difference is though that total bid sum (and ask sum too) is way higher.

Yes really quite remarkable. April 7th set us back almost exactly 2 weeks. We won't be truly out of the woods until the ask sum roughly halves.

My preference (as if I what I fancy has any influence at all ) is that the total ask remained high so that people don't get the 'out of the woods' feeling resulting in another bonkers spending spree and its inevitable consequence!

I like loads of bitcoins on the order book as a constant reminder that people will sell if the price is right and could easily sell loads - so don't get carried away with the buying!

Keep in mind fiat paper = infinite money supply
Bitcoin = 11 million coins to date

I am well aware - and overall as you know although I'm not one to shout it from the rooftops I veer towards super-bullish.  It's just that phrases like 'out of the woods' make me a little nervous - not for the long-term future of bitcoin but for the sake of those who get caught in the crossfire of extreme market fluctuations.

I kinda like the idea of us learning to live with high bid and ask pressure as 'the norm'.  Opening up the steam locomotive up too quickly will release a lot of the steam pressure and the wheels will turn impressively fast but they are just spinning and are hardly pulling the train at all.  Opening up a little less quickly maintains a head of steam whilst effectively transferring the energy to the wheels so that the whole train slowly gains momentum until you've got something pretty heavy hurtling along the tracks at some rate!

Loving this little dip.  I like the fact the price don't simply dive down and straight back up again as it tended to on the retractions before the big drop from $266.  As many people as there are and as much money as there is to come on board I believe it is much healthier that we don't get the false sense of security of being 'out of the woods'.  My guess is it means people buying are accepting it may drop some after purchase and are more likely to be thinking long term and accepting risks than diving in blindly believing it's a free and easy ride up forever*.

Edit: * then panicking and selling at a loss on a massive drop!

[Xiaoma]

$147.00

How far will it slip?

crash 120$
big crash 90$
OMG crash 30$

you forgot:

whatevs 140$

[adamstgBit]

I recommend placing high bids, we could dip in the 13x.xx, but i really think support will come to the rescue in the low 14x.xx


lot of action happening here and now, be part of it! 

[elux]

Price: 137. Lag: 20s.

[molecular]

I recommend placing high bids, we could dip in the 13x.xx, but i really think support will come to the rescue in the low 14x.xx


lot of action happening here and now, be part of it!  

thanks adam, lotsa support building right above $0.140

EDIT: oops. we hit $0.135

[AmazonStuff]

Approx.  5000 BTC dump... crazy  

[adamstgBit]

[dmiceman]

Interesting, how strong today sell off will be.

To me, it seems that we will likely not see $140.00 ever again.

Ouch...

[seleme]

nice sell of

[molecular]

Interesting, how strong today sell off will be.

To me, it seems that we will likely not see $140.00 ever again.

Ouch...

did rpietila close his short from earlier?

[batcoin]

Interesting, how strong today sell off will be.

To me, it seems that we will likely not see $140.00 ever again.

Ouch...

I was wondering when that was gonna get reposted.

[Krabby]

Someone hold my fiat for me.

[batcoin]

Interesting, how strong today sell off will be.

To me, it seems that we will likely not see $140.00 ever again.

Ouch...

did rpietila close his short from earlier?

The one at $153? I think so.

[molecular]

nice sell of

yeah. I guess a load of stops got triggered. 140 was quite a resistance (at least perceptibly).