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

[gizmoh]

You know, what confuses me about this drop, is it doesn't appear to be triggered by anything.  I've been a firm believer that we would retest our lows in the 60-80 range at some point, but I always assumed it be triggered by some major news event. How sick would it be if this was the ultimate bear trap.  Shake all the weak hands and run it up to 500.   

Lack of major good news and accumulation of previous bad news(DHS,and tightening funding,no media hype) is the reason.

[lucas.sev]

You know, what confuses me about this drop, is it doesn't appear to be triggered by anything.  I've been a firm believer that we would retest our lows in the 60-80 range at some point, but I always assumed it be triggered by some major news event. How sick would it be if this was the ultimate bear trap.  Shake all the weak hands and run it up to 500.   

I don't remember any bad news on 10th of April either.

[S3052]

You know, what confuses me about this drop, is it doesn't appear to be triggered by anything.  I've been a firm believer that we would retest our lows in the 60-80 range at some point, but I always assumed it be triggered by some major news event. How sick would it be if this was the ultimate bear trap.  Shake all the weak hands and run it up to 500.   

most market movements actually happen without news, and all news info is embedded in the prices. this is why technical analysis works so well. we alerted subscribers about the break of the critical trendline around 127-128 $ and the drop then came as expected

[BitPirate]

... this is why technical analysis works so well. we alerted subscribers ... and the drop then came as expected[/color]

Thanks for that.

I assume by "works", you mean "self-fulfilling prophecy"?

[ChartBuddy]

[Coinseeker]

It's going to be interesting the next few days, that's for sure.  Just glad I got fiat should this continue to do what I suspect it's going to do when that million+ wall falls.

[ShroomsKit]

BBC One in UK has just had its first feature on bitcoin on its technology section.

Seemed to be fairly impartial -mentioning many benefits of bitcoin but also silk road association.

When will people get over the fact that people buy drugs with Bitcoin. JUST like any real world money.

[MikeH]

We now have picture of shit dissolving in water, whats next? 

[sarc]

It's going to be interesting the next few days, that's for sure.  Just glad I got fiat should this continue to do what I suspect it's going to do when that million+ wall falls.

In the current climate, big bid wall = slip avoidance mechanism.

less a brick wall, more a rubber mat in the shower.

[lucas.sev]

BBC One in UK has just had its first feature on bitcoin on its technology section.

Seemed to be fairly impartial -mentioning many benefits of bitcoin but also silk road association.

When will people get over the fact that people buy drugs with Bitcoin. JUST like any real world money.

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

[pennywise]

BBC One in UK has just had its first feature on bitcoin on its technology section.

Seemed to be fairly impartial -mentioning many benefits of bitcoin but also silk road association.

When will people get over the fact that people buy drugs with Bitcoin. JUST like any real world money.

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

No, its better for porn and gambling too. And it's better for some difficult to reach payments like those to defdist, wikileaks and such.

The biggest problem of btc adoption right now is its high volatility, making it unfriendly for store of wealth. Thus, making payers go through  an expensive process of money exchanging.

[ShroomsKit]

BBC One in UK has just had its first feature on bitcoin on its technology section.

Seemed to be fairly impartial -mentioning many benefits of bitcoin but also silk road association.

When will people get over the fact that people buy drugs with Bitcoin. JUST like any real world money.

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

Really? I'm pretty sure that 99% of the drug dealers out there prefer real money.

[ChartBuddy]

[lucas.sev]

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

Really? I'm pretty sure that 99% of the drug dealers out there prefer real money.

You are pretending not to understand what I meant or should I explain?

[ShroomsKit]

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

Really? I'm pretty sure that 99% of the drug dealers out there prefer real money.

You are pretending not to understand what I meant or should I explain?

I guess i don't understand what you mean then?

Edit: i got it.

[wonkytonky]

You know, what confuses me about this drop, is it doesn't appear to be triggered by anything.  I've been a firm believer that we would retest our lows in the 60-80 range at some point, but I always assumed it be triggered by some major news event. How sick would it be if this was the ultimate bear trap.  Shake all the weak hands and run it up to 500.   

the 8k wall can do whatever he wants .. if he feels we hit bottom.. it's time for the other way to make profit .. 

[BitPirate]

Thing is drugs are the only thing that bitcoin is better to be used for buying instead of fiat.

Really? I'm pretty sure that 99% of the drug dealers out there prefer real money.

You are pretending not to understand what I meant or should I explain?

I find it easier to pay for some things with Bitcoin than fiat. It only takes a couple of clicks.

The key is how you buy the bitcoins. I happen to have some, so it's easier. Buying them is also still relatively easy. If I had to wire money each time, it wouldn't be worth it.

In terms of *receiving* money, I'd rather have BTC (for the aforementioned reason) than USD or other fiat, and prefer BTC over PayPal or other reversible payment methods.

It's still small, but the potential is there. Try to look into the future a bit.

[lucas.sev]

I find it easier to pay for some things with Bitcoin than fiat. It only takes a couple of clicks.

The key is how you buy the bitcoins. I happen to have some, so it's easier. Buying them is also still relatively easy. If I had to wire money each time, it wouldn't be worth it.

In terms of *receiving* money, I'd rather have BTC (for the aforementioned reason) than USD or other fiat, and prefer BTC over PayPal or other reversible payment methods.

It's still small, but the potential is there. Try to look into the future a bit.

Yeah the key is how you buy the bitcoins. I am talking from a perspective of a person watching BBC not a BTC miner. Why would a person watching BBC want to buy something with BTC when they can use what they have already (traditional methods) - the only reason to go into BTC for them, other than speculation is to use it on silkroad. At least for now, BTC poses no advantages to them to justify fiat -> btc -> service/good route, of course with exception of silkroad. (I am not talking about store of value and speculation here)

[gizmoh]

The case for continuing downtrend:

The whales are not buying back. There is no buying pressure.

The price is hovering around 110 with low volume just like previous support at 120.

Another big dump comes in at 105 and all hell break loose.

Hello 100 and double digits..

[lucas.sev]

The case for continuing downtrend:

The whales are not buying back. There is no buying pressure.

The price is hovering around 110 with low volume just like previous support at 120.

Another big dump comes in at 105 and all hell break loose.

Hello 100 and double digits..

I will welcome them with open arms