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

[JimboToronto]

[molecular]

I agree entirely.

Nobody in their right mind would sell another 5000-10000 BTC right now - they need to wait for the bids to fill in first.

I believe I said it earlier but he who dumps first wins. That 10k dump earlier was a real winner !

Yeah, but most bought in below 120 in june/july. I expected a bigger dump. But I agree, better wait till it calms down and moves up a bit and then do another round.

I think the next weeks will look much like Feb/Mar 2013: some days of good rise, then a healthy correction with relatively fast recovery,... rinse, repeat.

[jeezy]

I agree entirely.

Nobody in their right mind would sell another 5000-10000 BTC right now - they need to wait for the bids to fill in first.

I believe I said it earlier but he who dumps first wins. That 10k dump earlier was a real winner !

Yeah, but most bought in below 120 in june/july. I expected a bigger dump. But I agree, better wait till it calms down and moves up a bit and then do another round.

I think the next weeks will look much like Feb/Mar 2013: some days of good rise, then a healthy correction with relatively fast recovery,... rinse, repeat.

So, basically...

[macsga]

It was a well predicted correction (the last couple of days I've been looking for it). I believe $170-$180 is the limit down. I support the $300 jump too; but I am an optimistic person anyway...

I *think* I was right about 7hrs ago (as per the limit down), now let's see the limit up...

[prophetx]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

[klee]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

It needs to be listed anywhere? I am total ignorant, indulge me!

[prophetx]

also i wonder if some of this was due to short term loans coming due on bitfinex...

[ChartBuddy]

[prophetx]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

It needs to be listed anywhere? I am total ignorant, indulge me!

if you recall the twins put together a trust of about 200k btc (I think), and filed an s1 with the sec, that s1 was refiled on oct 8 (when this rally started basically) with letters from their law firm (i guess in response to sec questions from the original july filing)

the sec has 30 days to approve or ask more questions.  but assuming they find the law firm's letters acceptable then the winklevoss btc trust will go live some time between now and 6th of November I suppose (this is not my field really)

at that point rather then paying coinbase 1% and shipping money of to some far away island or euroland, or meeting some shady drug dealer who wants to dump his btc via lbc, you could simply log into your brokerage or 401k account and supposedly buy this...

anyway what it means is that there will be a glut of btc that was previously not marketable on the market...

[bzzard]

[Miz4r]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand?

[klee]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

It needs to be listed anywhere? I am total ignorant, indulge me!

if you recall the twins put together a trust of about 200k btc (I think), and filed an s1 with the sec, that s1 was refiled on oct 8 (when this rally started basically) with letters from their law firm (i guess in response to sec questions from the original july filing)

the sec has 30 days to approve or ask more questions.  but assuming they find the law firm's letters acceptable then the winklevoss btc trust will go live some time between now and 6th of November I suppose (this is not my field really)

at that point rather then paying coinbase 1% and shipping money of to some far away island or euroland, or meeting some shady drug dealer who wants to dump his btc via lbc, you could simply log into your brokerage or 401k account and supposedly buy this...

anyway what it means is that there will be a glut of btc that was previously not marketable on the market...

Oh ok, I thought you were referring to the twins AND the SecondMarket Bitcoin Trust which made no sense!

[prophetx]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand?

those 200k btc were not marketable and could not be touched since the july filing...

what happens to price when the supply curve moves out? ths is not demand for 200k btc this is a supply of 200k btc being SOLD to the public, supply that was not available since the twins purchased it

what happens when shareholders lock outs are done?

econ 101....

[prophetx]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

Oh ok, I thought you were referring to the twins AND the SecondMarket Bitcoin Trust which made no sense!

no worries...  i know my grammar and spelling completely suck, when i am not accountable (not getting a grade or getting paid for this lol)

[Miz4r]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand?

those 200k btc were not marketable and could not be touched since the july filing...

what happens to price when the supply curve moves out? ths is not demand for 200k btc this is a supply of 200k btc being SOLD to the public, supply that was not available since the twins purchased it

what happens when shareholders lock outs are done?

econ 101....

Still don't see why the shareholders would instantly sell their BTC and cause a sell off the moment they are unlocked. Price could just as well go up because of greater exposure to the public.

[wachtwoord]

So bitcoin price is at the same point it was yesterday and bid sum has dropped only 500k...

That was a crash? Really? It was an epic bear trap to me, who sold at $175? LOL

that's not really a crash. more like a correction.

i think the real crash will happened after the bitcoin trust is listed and the winklevoss btc which are locked up right now flood the market and soak up all the fiat, this is sort of the run up in anticipation to that.

this is pure speculation

I don't get it, why would BTC be sold because of this? Won't this cause an even bigger rally instead because of greater demand?

those 200k btc were not marketable and could not be touched since the july filing...

what happens to price when the supply curve moves out? ths is not demand for 200k btc this is a supply of 200k btc being SOLD to the public, supply that was not available since the twins purchased it

what happens when shareholders lock outs are done?

econ 101....

Still don't see why the shareholders would instantly sell their BTC and cause a sell off the moment they are unlocked. Price could just as well go up because of greater exposure to the public.

And 99% of the people cannot sell. Only market makers can redeem or create new, baskets. So what is needed is the price of the ETF to drop sufficiently below market price for market makers to arbitrage and redeem baskets of Bitcoins and earn on the arbitrage.

[DougTanner]

Looks to me like the triangle has closed and we're heading back up.

[klee]

What a day!

[DougTanner]

Heading back to $220 on Gox IMHO.

[klee]

Who is leading the rally this time? Stamp, Gox or China?