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

[wachtwoord]

Clearly someone did, or they wouldn't have sold.

Glad you see my point.

So what's your prediction?

I don't have one. I just don't think this overly bullish ambiance is a good thing.

Like I said in another thread, this time I will unload my coins if it goes down, contrary to 2011.

http://www.youtube.com/watch?v=S8QM79i-lXQ

[1714611168]

1714611168

[Frozenlock]

I don't have that many. 

[Loozik]

It obviously broke a very strong support a while before it started to crash

So did we.



Just stay on your toes, that's all I'm saying.

Would this trendline look the same if it weren't for the exponential scale?

[ChartBuddy]

[Frozenlock]

Would this trendline look the same if it weren't for the exponential scale?

Well no, it would look like an exponential function on a linear scale. 

[Frozenlock]

A candy for the bulls:

[Abandon]

It obviously broke a very strong support a while before it started to crash

So did we.



Just stay on your toes, that's all I'm saying.

Would this trendline look the same if it weren't for the exponential scale?

It was growing exponentialy for a while before it went nova, so the trend line is difficult to discern. Either way, it will pick back up on it eventually.

[micalith]

but what about this one?

[old_engineer]

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again.  Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses.  If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then.  And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June.  The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it. </falsifiable prediction>

[fitty]

A candy for the bulls:

Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over. 

[Miz4r]

A candy for the bulls:

That looks like a mirror image of the orderbook on Bitstamp, only the numbers are bigger.

[01BTC10]

123.04K BTC can be bought for 24.25M until price goes above $1219

[Aseras]

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again.  Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses.  If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then.  And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June.  The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it. </falsifiable prediction>

That's just it, if one whale pulls out, crash. One comes in rally. There's no depth. 

[MickeyT2008]

123.04K BTC can be bought for 24.25M until price goes above $1219

Hang on, I'm sure I've got a spare $24,250,000 around here somewhere.....

[samson]

I just don't see the price dropping below $100 ever again.

rpietila also said his recently. I think it went to the $90's the very next day.

It recovered quickly only to stagnate and leave us where we are right now.

[Coinseeker]

That's just it, if one whale pulls out, crash. One comes in rally. There's no depth. 

[Loozik]

[smoothie]

A candy for the bulls:

Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over. 

You know what is messed up is that a 100k BTC buy order should be pretty much instant. What follows it is the part that may cause lag but I always find it odd that when the market moves really quickly in either direction gox lags like fuck. It is embarassing.

[massivebitman]

123.04K BTC can be bought for 24.25M until price goes above $1219

Even if somebody did buy it, it would never stay above 1000.

More supply would quickly become available at a much lower price.

[smoothie]

I believe they call this stage 'denial'

A friendly reminder from a 2011 survivor.

OMFG I LOLed. Thanks for that "weeeeeeeeeeee!"