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

[samson]

So how come, someone buys 4k the price stays about the same and if someone dumps 4k we enter freefall?

It's a suckers rally, people recognise this so instead of jumping aboard the Bitcoin train they just ignore it and wait for the current downtrentdto continue.

Price rising on low volume : What could possibly go wrong there ?

[wachtwoord]

Sometimes this feels like one big experiment in psychology

It is.

[sarc]

lots of people bought in for no other reason than the price was going up, what else would you expect to happen when the price starts to tank?

[lucas.sev]

Gentlemen, do not forget that there is a guy who bought 400k USD worth of bitcoin causing 4USD slippage, watching price go down 

[wachtwoord]

lots of people bought in for no other reason than the price was going up, what else would you expect to happen when the price starts to tank?

Indeed, this provides opportunity though. The imperfectness of the market is what allows us to outperform it

Unfortunately it is very very hard to value Bitcoin because it is unknown what the exact growth rate of Bitcoin (many years of slow growth discounts the future value quite hard) will be, there is non-zero chance another cryptocurrency will overtake it and because it is an asset it doesn't produce anything (as Buffet says: an ounce of gold will in a hundred years still be an ounce of gold). I do believe it is significantly undervalued today but my this is based on many assumptions that can be flawed.

[Jakewell]

Gentlemen, do not forget that there is a guy who bought 400k USD worth of bitcoin causing 4USD slippage, watching price go down 

That buy can come from the same who dump millions today.. so means nothing.

[sarc]

Gentlemen, do not forget that there is a guy who bought 400k USD worth of bitcoin causing 4USD slippage, watching price go down 

And to him, sir, I say - ouch.

[seldon]

Someone buying 500btc, someone dumping 500btc - one more wtf moment

[ChartBuddy]

[Aggrophobia]

that was crazy shit oO

[sarc]

lots of people bought in for no other reason than the price was going up, what else would you expect to happen when the price starts to tank?

Indeed, this provides opportunity though. The imperfectness of the market is what allows us to outperform it

Unfortunately it is very very hard to value Bitcoin because it is unknown what the exact growth rate of Bitcoin (many years of slow growth discounts the future value quite hard) will be, there is non-zero chance another cryptocurrency will overtake it and because it is an asset it doesn't produce anything (as Buffet says: an ounce of gold will in a hundred years still be an ounce of gold). I do believe it is significantly undervalued today but my this is based on many assumptions that can be flawed.

I don't see how that can be - it can't possibly deliver currently on a $100 per bitcoin investment, unless it keeps going up in edit:price. But why would it go up in edit:price if it can't even deliver on a $100 per bitcoin investment? In other words, the price is way above the utility. edit: it's extremely poor value at this price  .

[Jakewell]

i just saw how a 1000 btc buy wall got eaten in less than 10 seconds in the morning   

[lucas.sev]

i just saw how a 1000 btc buy wall got eaten in less than 10 seconds in the morning   

morning in which timezone?

[Richy_T]

i just saw how a 1000 btc buy wall got eaten in less than 10 seconds in the morning   

morning in which timezone?

I think he meant "mourning"

[wachtwoord]

lots of people bought in for no other reason than the price was going up, what else would you expect to happen when the price starts to tank?

Indeed, this provides opportunity though. The imperfectness of the market is what allows us to outperform it

Unfortunately it is very very hard to value Bitcoin because it is unknown what the exact growth rate of Bitcoin (many years of slow growth discounts the future value quite hard) will be, there is non-zero chance another cryptocurrency will overtake it and because it is an asset it doesn't produce anything (as Buffet says: an ounce of gold will in a hundred years still be an ounce of gold). I do believe it is significantly undervalued today but my this is based on many assumptions that can be flawed.

I don't see how that can be - it can't possibly deliver currently on a $100 per bitcoin investment, unless it keeps going up in value. But why would it go up in value if it can't even deliver on a $100 per bitcoin investment? In other words, the price is way above the utility.

Value and price are two different things.

[ChartBuddy]

[mvidetto]

Hmm from 70-80k bids to 50k bids in only 9 days, things are certainly looking towards the drop in BTC.  Also a 5k wall at $108/110 definitely going to be tough to raise the price.

[hlynur]

i missed the whole action of last three days so I'm maybe way off,
but i have this gut feeling that we'll see more dumps during the night, so US can wake up to low price and start another panic selloff.
(well at least if i was speculating with lot of coins I'd do that)

[Nightowlace]

I base my trades solely on what is said in this thread. 

[Loozik]

This stopped updating https://www.tradingview.com/e/?symbol=MTGOX:BTCUSD#

Can someone let them know they lost connection to MtGox API?