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

[notme]

Gox going down?

https://i.imgur.com/a2SW8ZH.png

well_that_escalated_quickly.png

Just little wiggles, chill out.

[molecular]

Gox going down?

https://i.imgur.com/a2SW8ZH.png

well_that_escalated_quickly.png

Just little wiggles, chill out.

Bernanke hints at tapering, people sell assets. Bitcoin not affected much. Assets cheap, tapering is farce. Bitcoin users buy cheap assets, Bitcoin affected.

[smoothie]

Our world financial system is going to go through some insane volatility in the next few years.

Hang on. I don't think being in bonds or any type of paper will be good in the long-term. ROLLER COASTER TIME! 

[barbs]

Bitcoin really is gold 2.0 

Why are you so smug and delighting in this your posts have been slowly annoying me more and more

You want bitcoin to fail or is it just about being right ?

Yes we all saw this coming when btc was rejected at 110 several times and 105 w several slams to 101

[Jaroslaw]

i just sell 10k btc and exchange money on mtgox to gold IRL.

[wilfried]

i just sell 10k btc and exchange money on mtgox to gold IRL.

to by into gold bubble settlement.. i dont know

[barbs]

Let's just have $50 already so frozenblock can stop cheering everytime we go down. 

For real. His emoticons and avatar don't make it better.

[Its About Sharing]

WB 98 97 96.

Currently 1k of asks to get above 100..

Interesting.. for the sell that brought us from 98 to 96.2, it would take just as many coins sold now to bring us back there [~1.5k]

Bids filled in quick.

The asks take time to fill in. It is now up to 2400...

[Its About Sharing]

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

[ChartBuddy]

[Voodah]

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

[Rampion]

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

[Frozenlock]

I was also hoping for a quick bear market, but you damn bulls continued to try to push the price higher.

Now you'll have to deal with a long slide down. 

[Dalib]

Bitstamp tests again 91 support ... 

[Jaroslaw]

its time to this bubble blow up

[dan99]

Are we meeting some price resistance? What does candlestick charts says? is they are going to have some see saw swing? is price going to taper off ? now is $97.4009

[gandhibt]

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

Based on this?


And to second bold: of course that's not true and you said it yourself, "few big players' moves can reverse the trend." That's far more likely outcome than a multi-year bear market... Are you just trying to create selling pressure with that statement?

[Dalib]

Are we meeting some price resistance? What does candlestick charts says? is they are going to have some see saw swing? is price going to taper off ? now is $97.4009

However, someone sells but someone is trying to catch (so far) the cheapest coins of today.

Only the next days (maybe hours) show further development.

[Jaroslaw]

nice aelling in progress i will sell more btc for IRL Gold since i cant get cash out of mtgox

[Rampion]

Did you guys realized that there are only $511k in Bitstamp's order book?

When the exodus of coins from MtGox started after the Dwolla situation, many in here said that fiat was following too, but that it would have taken time as it slower to move. Well, absolute maximum fiat on Bitstamp after Dwolla was $1.1m, and now is less than half of it. Fiat is really leaving Bitcoin for good, as expected.

To give a little bit of context, the ratio between fiat on Bitstamp and Gox has consistently been 1:20. When we had $1M on Bitstamp, we had aprox. $20M on Gox. Now we have $511k on Bitstamp and $11M on Gox.

Gox is still the leading exchange for a reason. Expect a bear in which you will see much less "Bitcoin is a ponzi" talk compared to 2011, but a lot more "OMG the government thugs are coming after us, seizing all our money and eventually locking us up in Guantanamo".

Anyhow, the negative sentiment needs to be MUCH stronger in order to reach the real bottom, which I still hope it will be $50ish. I won't be surprised by $30-$50, I will be puzzled if we go below $30, and quite disappointed if we go below $20.

Anyhow, fasten your seat belts - its going to be a bumpy ride (gif expected, come on guys!)