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

[Miz4r]

bid sum/ask sum = USD/btc
price = USD/btc

does it mean that the sum of all bids is expressed in USD and the sum of all the asks is expressed in BTC?
sorry for noob question

Yes it does. Sum of all bids is simply the total amount of USD that's sitting on the orderbook wanting to buy BTC. Sum of asks is the total amount of BTC for sale on the orderbook.

So 'ask sum' in the bid sum/ask sum RATIO is defined in BTC is it ?
Look at the chart below, which has 'Bid Sum [USD]' on one side and  'Ask Sum [kBTC]' on the other and see if this confirms your theory

Hint ... it doesn't

You can /facepalm all you want but that doesn't make you right. By the way I don't see any chart in your post. And I don't know what your point is about ratio, the current price is also a ratio...

[1714656740]

1714656740

[1714656740]

1714656740

[1714656740]

1714656740

[ChartBuddy]

[KS]

could anyone point me to a site where I can see the PSAR? ('cept for bitcoincharts.com)

In oranges or potatoes ?

oranges, apples too. potatoes are used for sth entirely different. check your maths!

[Miz4r]

bid sum/ask sum = USD/btc
price = USD/btc

does it mean that the sum of all bids is expressed in USD and the sum of all the asks is expressed in BTC?
sorry for noob question

Yes it does. Sum of all bids is simply the total amount of USD that's sitting on the orderbook wanting to buy BTC. Sum of asks is the total amount of BTC for sale on the orderbook.

So 'ask sum' in the bid sum/ask sum RATIO is defined in BTC is it ?
Look at the chart below, which has 'Bid Sum [USD]' on one side and  'Ask Sum [kBTC]' on the other and see if this confirms your theory

Hint ... it doesn't

You can /facepalm all you want but that doesn't make you right. By the way I don't see any chart in your post. And I don't know what your point is about ratio, the current price is also a ratio...

I was referrng to the lower of the two chart in the original post

Ok I'm looking at that chart. It confirms what I said. And now?

[rpietila]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

[nimda]

Uhh, guys...

this is the game plan for the next 364 days



100$ a coin

 

[Jozzaboy]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

Our perma-bull is feeling bearish. I feel odd, like a terror has gripped my very bones. Sold 20% of all bitcoins, heres hoping I can short.

[dexX7]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

Our perma-bull is feeling bearish. I feel odd, like a terror has gripped my very bones. Sold 20% of all bitcoins, heres hoping I can short.

Same thoughts. Sad to hear, as I loved those ultra bullish bold predictions.

rpietila, why do you come up with this conclusion now? Nothing fundamental has changed and the only argument one could come up would be "we didn't skyrock already, that's why".

[ChartBuddy]

[samson]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.

[Miz4r]

Ok I'm looking at that chart. It confirms what I said. And now?

Yes, I just did the same ...
And now it's time for me to admit that I am wrong !
Oops ... apologies for being patronising - that misconception was firmly rooted in my head

Moving swiftly on after being schooled ...



It's an odd measure ... gotta go away and get my head round what that actually means in absolute terms rather than trends

LOL that gif is priceless. And thanks for being honest and admit you were wrong, not many are able to do that on a public forum. You have my respect for that.

[Jozzaboy]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.

Maybe he did, but not in a lump sum so there isn't a rally? It makes sense for him to keep the downtrend going until he is almost out of fiat.

[strawbs]

Yes, I just did the same ...
And now it's time for me to admit that I am wrong !
Oops ... apologies for being patronising - that misconception was firmly rooted in my head

Respect for the honesty Nice one

[rpietila]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.

Maybe he did, but not in a lump sum so there isn't a rally? It makes sense for him to keep the downtrend going until he is almost out of fiat.

Yeah, somebody did buy thousands of coins at the final capitulation.

If there is one in the coming weeks, be sure to have your $$ ready. You're given one chance (if any).  Even though I feel bearish, I still know the only sure way to get fiat out Mt.Gox is to buy bitcoins with it. So all the money is still there, and (real) asks are disappearing.

My bearishness is also partly because of my living condition.

[Jozzaboy]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.

Maybe he did, but not in a lump sum so there isn't a rally? It makes sense for him to keep the downtrend going until he is almost out of fiat.

Yeah, somebody did buy thousands of coins at the final capitulation.

If there is one in the coming weeks, be sure to have your $$ ready. You're given one chance (if any).  Even though I feel bearish, I still know the only sure way to get fiat out Mt.Gox is to buy bitcoins with it. So all the money is still there, and (real) asks are disappearing.

My bearishness is also partly because of my living condition.

This sounds market bullish, be still my beating heart for things are back to normal  

Drop the price to 99 again and I'm all in on fiat

[lucas.sev]

This sounds market bullish, be still my beating heart for things are back to normal  

Drop the price to 99 again and I'll purchase 20k USD of bitcoins.

Quite a claim to make, you don't have to prove anything but it would be cool to see some proof that you actually bought 200BTC once we touch 99.

[ChartBuddy]

[Jozzaboy]

This sounds market bullish, be still my beating heart for things are back to normal  

Drop the price to 99 again and I'll purchase 20k USD of bitcoins.

Quite a claim to make, you don't have to prove anything but it would be cool to see some proof that you actually bought 200BTC once we touch 99.

Not really the point. This was more a reference to investment advice from our resident supernode in a different thread. Besides, posting any financial or investment accounts on public forum strictly for bragging rights is plain silly. I couldn't even show you a single wallet as I split my coins between them in case of an attack.

Here is the wallet I use to play Bitvegas with if you like: 19SrbiDqiLiv9hUD39LZReNUHHga1LRcrM

[adamstgBit]

To me, it looks like it is going down now.. Many of the bulls think speculatively that by selling now, it is easy to buy back later. While this thinking is wishful (not all of them can buy the coins back - sub-100 or even at all(!!)), it is enough to take the price down in a long slide to around $50.

Only the growing usage will save bitcoin now. It may take months before it catches up. We are 2 months to the bear market now, I would not be surprised for 2 more months. 4 more would be a surprise.

Don't sell your coins. In 2011 only the ones lost who sold. I bought about BTC5000 then from somebody who could have held onto his treasure but chose to throw it away for a pittance. Read my threads (links in the sig). Don't sell.

You can't be sure the guy who sold you 5000 Bitcoin didn't buy double that back at the bottom.

Maybe he did, but not in a lump sum so there isn't a rally? It makes sense for him to keep the downtrend going until he is almost out of fiat.

Yeah, somebody did buy thousands of coins at the final capitulation.

If there is one in the coming weeks, be sure to have your $$ ready. You're given one chance (if any).  Even though I feel bearish, I still know the only sure way to get fiat out Mt.Gox is to buy bitcoins with it. So all the money is still there, and (real) asks are disappearing.

My bearishness is also partly because of my living condition.

you're a bear now  wtf did they do?  
lol

MtGox can do wire transfer to anywhere in the world including US

people are selling because they are scared

[10c]

you're a bear now  wtf did they do?  
lol

MtGox can do wire transfer to anywhere in the world including US

people are selling because they are scared

mmm good luck with that.
I made a withdrawal pre bubble burst and have yet to receive funds....