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

[Dhuum]

Cause Bitstamp is acting strange.

What's up with bitstamp?

Is it down?

[only]

Sales at 182.55, buys at 189.86999, what the fuck is going on?

[San1ty]

Sales at 182.55, buys at 189.86999, what the fuck is going on?

Thin orderbook... This small downtrend is based on almost no volume at all, I don't think it has any grounds.

[fluidjax]

Why are we going down?

I think there is a group of people who speculated in the last bubble and only check things like bitcoin over the weekend, and they see this as an opportunity to get out.

[Corelianer]

Why are we going down?

I think there is a group of people who speculated in the last bubble and only check things like bitcoin over the weekend, and they see this as an opportunity to get out.

Or maybe they are high.. oh no wait... Silkroad is closed already.... 

[Kj1]

dilemma: i have only fiat at stamp. where should i place buy oders? (going to sleep in an hour)
risk waking up with the chinese going berserk again and missing a 190$ buyin point
or just missing another massive dump and be able to buy back at 160 or so

pff this kinda sucks about bitcoin: the exchanges never close.

place a bid at the very top.

buy now if u dont want to play risky

Great advice, thanks!
Glad I didn't listen  

The thin orderbook is perfect for small increases of my fiat:  buy at 181.5, sell at 184.5, its only a .25% fee or so at stamp => 1% profit per trade.  Managed to do 5 or so succesful.

[Kj1]

Why are we going down?

I think there is a group of people who speculated in the last bubble and only check things like bitcoin over the weekend, and they see this as an opportunity to get out.

Anyone remembers the friday seller from the slow decline?  He might be back!

[Grouver (BtcBalance)]

Cause Bitstamp is acting strange.

What's up with bitstamp?

About 10 hours ago it was down for a bit . And since then there API stopped working.
Check Bitcoinity or trading.i286.org for example.

[San1ty]

Hmm, I'm out for a while, if we drop below 180 all hell might break loose. If we go back to 200, I'll gladly buy back at a loss.

[ChartBuddy]

[Spider]

You'll see 150$ tomorrow. Don't fall asleep.

[lucas.sev]

Hmm, I'm out for a while, if we drop below 180 all hell might break loose. If we go back to 200, I'll gladly buy back at a loss.

I think we can expect a bounce at 176

[gandhibt]

You'll see 150$ tomorrow. Don't fall asleep.

Maybe in stamp, but even there support is strong at $160 so IF we go down more then maybe $165-170 at gox is where it stops.

[jl2012]

Watch the 14-day average: the crash yesterday stopped just above it in the big-4 exchanges (gox, btce, stamps, china)

[ChartBuddy]

[sarc]

This is a little out of date in some respects, but with recent events it may come back sharply into focus soon. I was curious to see just how much Silk Road was contributing to what was a strong underlying growth trend in Bitcoin price - and the answer seems to support the claims that it was almost entirely responsible (more than I expected, see below).
I doubt there's many people that believe Bitcoin got to the current giddy heights through mass adoption or genuine utility, so the next question is what happens to Bitcoin if the factors driving it up there disappear along with Silk Road?

Correlation != causation

This, both price and silkroad user number are expected to rise with bitcoin adoption (and thus time).  I bet there are other services/metrics that show a similar correlation with the bitcoin price (bitcointalk speculation posts perhaps). You can't conclude from this that silk road is the principal driver of price.

As far as I've seen, most people accept already that silk road was an important driver of the demand for bitcoins (outside of speculative bubbles), and so the price, the surprise is just how tight the relationship appears to be.

C'mon, you know it's true really....

[ChartBuddy]

[gandhibt]

This is a little out of date in some respects, but with recent events it may come back sharply into focus soon. I was curious to see just how much Silk Road was contributing to what was a strong underlying growth trend in Bitcoin price - and the answer seems to support the claims that it was almost entirely responsible (more than I expected, see below).
I doubt there's many people that believe Bitcoin got to the current giddy heights through mass adoption or genuine utility, so the next question is what happens to Bitcoin if the factors driving it up there disappear along with Silk Road?

Correlation != causation

This, both price and silkroad user number are expected to rise with bitcoin adoption (and thus time).  I bet there are other services/metrics that show a similar correlation with the bitcoin price (bitcointalk speculation posts perhaps). You can't conclude from this that silk road is the principal driver of price.

As far as I've seen, most people accept already that silk road was an important driver of the demand for bitcoins (outside of speculative bubbles), and so the price, the surprise is just how tight the relationship appears to be.

C'mon, you know it's true really....

So we're going to $30 "again"? =) It must be hard that you can't accept that what drives the price is peoples belief that bitcoin will be huge in the future. Price itself has little to do with what you can do with bitcoins today. Did you sold all your coins before we went over $100 and now you want to buy back without loss?

[Loozik]

So we're going to $30 "again"? =)

It would be cool if we dropped like this. I wonder if Shroomskit managed to sell at the recent high.

[DougTanner]

Why is the price still going down? 

And what the hell is wrong with Bitstamp...