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

[Walsoraj]

What the hell? Did I miss something? 

just more millionaires who want out of bitcoin. Only way to do so is buy on gox, lolol. stupid whales.

we are crashing to single digits once fiat dries up.

sidenote: lol @ pathetic depth on bitstamp. This is the competition to Gox? lolol. It's sole purpose is clearly to cash out. not good sign of a healthy competitor.

... to get out you've got to sell somewhere else.  Where are the dumps?  Other exchanges are following not diverging.  During whale-less days, BitStamp is seeing steady or slowly rising prices with > volume than Gox.  If whales are selling slowly, we'd be seeing these exchanges fall.  Bid depth too small, so whales wouldn't sell ANYTHING?  That's silly...

Volume is low during downtrends, higher during uptrends.

Keep beating your drum, you might be able to buy your 5 coins back soon :-)

the poor whales CANT sell on alt-exchanges because they have no depth and would cause massive slippage. Whales would eat huge losses. Instead they cling to bitcoin hoping price keeps going up as other desperate whales buy on gox, eventually there might be enough depth on bitstamp so that loss is minimal (few percent). I think it is wishful thinking.

Fiat dries up, we rocket upward, then crash to unbelievable new lows. Single digits my friends.

[derpinheimer]

What the hell? Did I miss something? 

just more millionaires who want out of bitcoin. Only way to do so is buy on gox, lolol. stupid whales.

we are crashing to single digits once fiat dries up.

sidenote: lol @ pathetic depth on bitstamp. This is the competition to Gox? lolol. It's sole purpose is clearly to cash out. not good sign of a healthy competitor.

... to get out you've got to sell somewhere else.  Where are the dumps?  Other exchanges are following not diverging.  During whale-less days, BitStamp is seeing steady or slowly rising prices with > volume than Gox.  If whales are selling slowly, we'd be seeing these exchanges fall.  Bid depth too small, so whales wouldn't sell ANYTHING?  That's silly...

Volume is low during downtrends, higher during uptrends.

Keep beating your drum, you might be able to buy your 5 coins back soon :-)

the poor whales CANT sell on alt-exchanges because they have no depth and would cause massive slippage. Whales would eat huge losses. Instead they cling to bitcoin hoping price keeps going up as other desperate whales buy on gox, eventually there might be enough depth on bitstamp so that loss is minimal (few percent). I think it is wishful thinking.

Fiat dries up, we rocket upward, then crash to unbelievable new lows. Single digits my friends.

I want Jaroslaw back, he isnt as scary

[MAbtc]

I'm not convinced that bubble money isn't just being redistributed right now. How much fresh money do we think is flowing into the exchanges?

I'd be curious to see an update from that guy who was charting forum activity over time.

[FNG]

Yup..because people with Millions on Gox wouldn't bother to fly or send someone to Japan to facilitate the exit of dollars to Yen and back to dollars or whatever currency they please.

People couldn't possibly want bitcoin..that would be insane  

I'd like to hear a story of 1 person with over $200k stuck on Gox that can't find a way to get it off without buying and selling on bitstamp

[ChartBuddy]

[S3052]

Bottom line is price going up for ALL THE WRONG REASONS. Why you mega-bulls get behind this BS I don't understand.

*edit*

i do understand because it is your bullshit

I don't try to pick on you personally.

But this point of view shows exactly why there is much more upside with bitcoin in general. Sentiment is too pessimistic. Not enough people are LONG yet for a reversal.

The trend is your friend. Dont look at fundamentals, but at technical analysis. the charts say everything.

do they show fiat is drying up? Because it is. If you don't recognize that, you are a failboat and will sink with the rest.

btw, i don't rule out an immediate/sudden ROCKET past $200. Likely will happen. What concerns me is all the fiat exiting at rapid pace.

You are complete moron if you think fiat is getting replenlished with new deposits. 

there are always times of high and low volume cycles. if fiat would be drying up too much, BTCUSD would not rise
volume in both, fiat and BTC will rise again massively

[S3052]

Yup..because people with Millions on Gox wouldn't bother to fly or send someone to Japan to facilitate the exit of dollars to Yen and back to dollars or whatever currency they please.

People couldn't possibly want bitcoin..that would be insane  

I'd like to hear a story of 1 person with over $200k stuck on Gox that can't find a way to get it off without buying and selling on bitstamp

^This

[MAbtc]

Yup..because people with Millions on Gox wouldn't bother to fly or send someone to Japan to facilitate the exit of dollars to Yen and back to dollars or whatever currency they please.

People couldn't possibly want bitcoin..that would be insane  

I'd like to hear a story of 1 person with over $200k stuck on Gox that can't find a way to get it off without buying and selling on bitstamp

I don't use Gox -- can you do currency exchange like BTC-E? Trade USD for JPY? Don't think so. So withdrawing JPY does no good when you are exchanging from USD -- same delays.

Maybe I'm missing something. People have mentioned showing up in person as well (...or "sending someone"?  )-- any trip reports? That doesn't sound too promising if your balance is in USD.

[FNG]

People have mentioned showing up in person as well (...or "sending someone"?  )-- any trip reports? That doesn't sound too promising if your balance is in USD.

This is what I would like to know. If you're willing to lose $100k+ to purchase and subsequently exit you would get a direct line to Gox to figure this out...unless of course..you want bitcoin and not $'s

I've heard nothing..

[adamstgBit]

Encrypted money baby!

[Wekkel]

If we make it to $150, I switch to bull 

[BitcoinAshley]

If we make it to $150, I switch to bull 

This is why bull traps are so effective
 

EDIT: For the record, I am not claiming that this is or is not a bull trap, or making any comment whatsoever on the trappish or untrappish status of the recent price movements.

[notme]

If we make it to $150, I switch to bull 

This is why bull traps are so effective
 

EDIT: For the record, I am not claiming that this is or is not a bull trap, or making any comment whatsoever on the trappish or untrappish status of the recent price movements.

Shut your trap

[bitcodo]

I run out of bitcoins and bear beer. Went to shop and got normal beer, but no bitcoins.

http://www.theverge.com/2013/8/30/4675908/internet-archive-credit-union-dumps-bitcoin-accounts-citing-regulatory-issues

[manfred]

I'm not convinced that bubble money isn't just being redistributed right now. How much fresh money do we think is flowing into the exchanges?

I'd be curious to see an update from that guy who was charting forum activity over time.

It is't  forum activity but the next best thing. Google trend seems to level out at about 15% of peak. Before it it was at 5%.

[micalith]

What the hell? Did I miss something? 

just more millionaires who want out of bitcoin. Only way to do so is buy on gox, lolol. stupid whales.

we are crashing to single digits once fiat dries up.

sidenote: lol @ pathetic depth on bitstamp. This is the competition to Gox? lolol. It's sole purpose is clearly to cash out. not good sign of a healthy competitor.

... to get out you've got to sell somewhere else.  Where are the dumps?  Other exchanges are following not diverging.  During whale-less days, BitStamp is seeing steady or slowly rising prices with > volume than Gox.  If whales are selling slowly, we'd be seeing these exchanges fall.  Bid depth too small, so whales wouldn't sell ANYTHING?  That's silly...

Volume is low during downtrends, higher during uptrends.

Keep beating your drum, you might be able to buy your 5 coins back soon :-)

the poor whales CANT sell on alt-exchanges because they have no depth and would cause massive slippage. Whales would eat huge losses. Instead they cling to bitcoin hoping price keeps going up as other desperate whales buy on gox, eventually there might be enough depth on bitstamp so that loss is minimal (few percent). I think it is wishful thinking.

Fiat dries up, we rocket upward, then crash to unbelievable new lows. Single digits my friends.

Whales can exit through Tradehill.com

oh, wait a minute, tradehill is temporarily suspended.

ergo tradehill whales hit gox

[rpietila]

I'm not convinced that bubble money isn't just being redistributed right now. How much fresh money do we think is flowing into the exchanges?

I'd be curious to see an update from that guy who was charting forum activity over time.

It is't  forum activity but the next best thing. Google trend seems to level out at about 15% of peak. Before it it was at 5%.

Bullish: price rises while google trends is low.

Why? If trend goes higher, it raises the price even more. Whereas if trend spikes, we are due for a reversal (as evidenced in Apr -13).

[ChartBuddy]

[01BTC10]

euro market on Gox is terrible.

right now bids are barely at 101 euro, which equates to about 133 dollars at the current exchange rate.

Maybe a sign that SEPA transfert to European country are faster than wire in USD.

[Wekkel]

Luring bears with a $135 buy price