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

[vokain]

^we don't exactly know how much is fear driven and how much is bullish. if i had USD stuck on gox, I'd buy because of both factors, ie price is still rising and since i can't withdraw GXD to buy at bitstamp. at the same time, i'd be very weary of selling on bistamp at such a guaranteed loss, esp if i believe in the long term future of bitcoin. if i were in those shoes, my thinking would be, might as well hold than panic sell the price down!

[gog1]

@solex: Personally I would imagine that its a few large groups that brought this rally on. Not 1 person, no, but maybe 2 or 3 groups.

It's climbing high on relatively low volume. Not convincing, is it? Someone's been working hard though to move the price up over the past few days. The question is why? And will it work?

Thats because there are no more asks...



It was 150k 3 weeks ago or so. Now just 73k.

so gox has no more coins - the whale can go to the futures exchange and start shorting, short more contracts than coins he has, and then start a massive dump

[vokain]

ironically enough, all this about gox is just convincing me to become more bullish.

[solex]

so gox has no more coins - the whale can go to the futures exchange and start shorting, short more contracts than coins he has, and then start a massive dump

I suppose you mean the 796 exchange. I doubt that the BTC market would pay attention to the open interest on 796 anymore than large sneks listen to girls.

[vokain]

[rpietila]

It wouldn't surprise me if every single whale buy since $65 was by a different person. There are a lot of people very interested in this new phenomenon, and they each have their own circumstances, plan, entry point, tolerance for goxxing, and fear of missing the train.

+1 Yes, of course.

[molecular]

It wouldn't surprise me if every single whale buy since $65 was by a different person. There are a lot of people very interested in this new phenomenon, and they each have their own circumstances, plan, entry point, tolerance for goxxing, and fear of missing the train.

+1 Yes, of course.

BUY BUY BUY! ;-)

[BitVegas]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

[fr33d0miz3r]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

And you'll sell at 90 again 

[Ares]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

I disagree. You had some Bitcoins at $90, now you have some Bitcoins at $110. Winning.

[BitVegas]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

I disagree. You had some Bitcoins at $90, now you have some Bitcoins at $110. Winning.

Yeah. I got very lucky trading when I first started and that was before I knew anything.

Now the 'more educated' me has failed time after time. I'm switching to buy and hold and in it for the long term. Trading ain't my game!

[vokain]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

I disagree. You had some Bitcoins at $90, now you have some Bitcoins at $110. Winning.

Yeah. I got very lucky trading when I first started and that was before I knew anything.

Now the 'more educated' me has failed time after time. I'm switching to buy and hold and in it for the long term. Trading ain't my game!

start small and learn from your mistakes!! trading provides invaluable insights

[gandhibt]

We need to break 115 USD and then 133.5 USD from 2013-5-26, so that I can have a lot of money.

Marked my buying spot, im now 85% BTC (15% LTC).

[vokain]

We need to break 115 USD and then 133.5 USD from 2013-5-26, so that I can have a lot of money.

Marked my buying spot, im now 100% BTC.

but we need more people not yet fully 100% in BTC  so that we keep going up!!  

[gandhibt]

It is also possible that this rise is a bull trap.

[vokain]

It is also possible that this rise is a bull trap.

acknowledged. i think we have to pass 115 before the ABC count for the continuing bear trend can be invalidated/confirm a wave 3

[thoughtfan]

Sold at 90 and bought at 110.

I think I'm doing it wrong.

I disagree. You had some Bitcoins at $90, now you have some Bitcoins at $110. Winning.

Yeah. I got very lucky trading when I first started and that was before I knew anything.

Now the 'more educated' me has failed time after time. I'm switching to buy and hold and in it for the long term. Trading ain't my game!

Good choice methinks on the whole - and welcome to the club  Assuming bitcoin isn't on a terminal decline likelihood is the overall direction will continue to be up therefore other than at such times as the recent downward trend when trading can be used to increase btc holding you have to be both very good and very lucky to make more trading than you would by simply holding over the long term.  The reason for this is in an uptrend you need to buy your fiat just before a bitcoin price dip and buy your bitcoins back just before it rises again otherwise you've lost.

start small and learn from your mistakes!! trading provides invaluable insights

This is another aspect of course - the educational one.  If trading is a skill you want to learn, BitVegas, then trading experience (within affordable loss risks) is essential - as is reading up on trade size strategies in relation to your overall bank, record keeping, psychological factors, entry/exit strategies etc.  It is very easy to get the impression from a forum like this that many more are successful than actually are because admitting losses on line as you nobly did is less common than keeping quiet about losses and bragging about our wins.  With bitcoin trading there is the added element of a tendency to mix trading to increase bitcoin holding (i.e. where holding fiat is an 'open trade') with trading to increase fiat holding (where an 'open trade' is having a short-term bitcoin holding).  People not clear on their intent can kid themselves for a long time that they are trading successfully!

[vokain]

There is some exciting news that will materialize soon though.

tell tell!!

[gizmoh]

There is some exciting news that will materialize soon though.

tell tell!!

Gox will go bankrupt soon, really exciting !!!

[ChartBuddy]