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

[maz]

Why so slow? Everything bitcoin related is blowing up at the moment.

Indeed, although good news has a 1-2 week delay normally before it affects the price.

But that $27 to $855,000 story is everywhere. And just after the Novogratz thing... uh oh  

• AFP (Third-largest news oganization in the world, similar to Associated Press and Reuters)
  
• The Guardian
  
• The Telegraph
  
• Daily Mail
  
• The Australian
  
• International Business Times
  
• Businnes Insider
  
• Gizmondo
  
• Geek.com
  
• MSN Phillpines
  
• And many more in other languages (Google News Search)
  

If you read those news articles and your a geek, your probably already own bitcoin. If your not a geek, your probably an average Joe that will look up the bitcoin wiki site and go..what the hell? crypto what?

[rpietila]

I think there are 3 types of bitcoiners at the moment.

1) The pre-$135/btc long term holder, who knows that right now btc's true value is not ~$200 and they will not buy at that price, when a discount may be around the corner, and feel btc's true value is around $100-$150.

2) day traders, don't care what the price is but the market volatility just now is not inviting to participate in.

3) October 2013 new blood from recent spike, to these folk anything under $230 is a good price as they have seen it's potential. They are probably the ones fueling this dance around the $200 mark.

A lot of excitement about the price rise recently but it appears to have no determination to continue. i think we are looking at $140 - $170 without a panic, in the following weeks. With panic who knows....The Chinese love their money, if it starts disappearing in front of their eyes....

4) True believers which think everything below $10,000 is too cheap to sell.

5) Ultimate believers that measure all their gains and losses in bitcoins and are hell-bent on increasing their bitcoin balance in every opportunity. "Selling" in their terminology is obtaining more bitcoins and USD is only relevant in the timing of gaining more coins.

[Marbit]

I think there are 3 types of bitcoiners at the moment.

1) The pre-$135/btc long term holder, who knows that right now btc's true value is not ~$200 and they will not buy at that price, when a discount may be around the corner, and feel btc's true value is around $100-$150.

2) day traders, don't care what the price is but the market volatility just now is not inviting to participate in.

3) October 2013 new blood from recent spike, to these folk anything under $230 is a good price as they have seen it's potential. They are probably the ones fueling this dance around the $200 mark.

A lot of excitement about the price rise recently but it appears to have no determination to continue. i think we are looking at $140 - $170 without a panic, in the following weeks. With panic who knows....The Chinese love their money, if it starts disappearing in front of their eyes....

4) True believers which think everything below $10,000 is too cheap to sell.

5) Ultimate believers that measure all their gains and losses in bitcoins and are hell-bent on increasing their bitcoin balance in every opportunity. "Selling" in their terminology is obtaining more bitcoins and USD is only relevant in the timing of gaining more coins.

rpietila are you still calling for correction down to $150 or whatever the number was? you said we were going down a few days ago. let's go down already!

[adamstgBit]

I think there are 3 types of bitcoiners at the moment.

1) The pre-$135/btc long term holder, who knows that right now btc's true value is not ~$200 and they will not buy at that price, when a discount may be around the corner, and feel btc's true value is around $100-$150.

2) day traders, don't care what the price is but the market volatility just now is not inviting to participate in.

3) October 2013 new blood from recent spike, to these folk anything under $230 is a good price as they have seen it's potential. They are probably the ones fueling this dance around the $200 mark.

A lot of excitement about the price rise recently but it appears to have no determination to continue. i think we are looking at $140 - $170 without a panic, in the following weeks. With panic who knows....The Chinese love their money, if it starts disappearing in front of their eyes....

4) True believers which think everything below $10,000 is too cheap to sell.

5) Ultimate believers that measure all their gains and losses in bitcoins and are hell-bent on increasing their bitcoin balance in every opportunity. "Selling" in their terminology is obtaining more bitcoins and USD is only relevant in the timing of gaining more coins.

rpietila are you still calling for correction down to $150 or whatever the number was? you said we were going down a few days ago. let's go down already!

rpietila owns more silver spoons then bitcoin...

[rpietila]

5) Ultimate believers that measure all their gains and losses in bitcoins and are hell-bent on increasing their bitcoin balance in every opportunity. "Selling" in their terminology is obtaining more bitcoins and USD is only relevant in the timing of gaining more coins.

rpietila are you still calling for correction down to $150 or whatever the number was? you said we were going down a few days ago. let's go down already!

Yes I was hoping to use my authority to take it to $150-$160 area to scoop more coins. But it didn't obey so I bailed out and sold all my USD at about 195. Now it can go whereever it will. I am always anxious when I hold USD or EUR. Gold, silver and bitcoin give me peace.

(The silver spoons joke was pretty good, since at times I have owned thousands of them, but not now.)

[Tzupy]

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry. 

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

[Richy_T]

Then I go to the in-laws farm for the weekend and no one in that village has even heard of bitcoin....and I start thinking, whats all the fuss about?

That *is* what all the fuss is about.

If everyone already knew about and used bitcoin, the price (whatever it was) would be about correct.

[VincentX]

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry. 

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

These posts always make me feel like I'm in a surfing club. (No offence ment.)

[maz]

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry. 

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

As a newb to understanding trends and market analysis, I never know wither to take you seriously or not.

[barbs]

Whoa BTC-E is higher than Bitstamp

[Ivanhoe]

Why so slow? Everything bitcoin related is blowing up at the moment.

Indeed, although good news has a 1-2 week delay normally before it affects the price.

But that $27 to $855,000 story is everywhere. And just after the Novogratz thing... uh oh  

• AFP (Third-largest news oganization in the world, similar to Associated Press and Reuters)
  
• The Guardian
  
• The Telegraph
  
• Daily Mail
  
• The Australian
  
• International Business Times
  
• Businnes Insider
  
• Gizmondo
  
• Geek.com
  
• MSN Phillpines
  
• And many more in other languages (Google News Search)
  

A little conspiracy: Western media bring up this story encouraged by governments. Western governments are scared that the chinese will run away with Bitcoins, so they encourage their population to buy and seize some for them selfs ( FBI )  

[molecular]

http://www.businessinsider.com/man-buys-bitcoin-forgets-about-it-remembers-finds-a-fortune-2013-10

"Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption"

moral of the story?

buy $26.60 of btc, and wait 4 years

That thing is on the reddit frontpage (4th place) currently.

[adamstgBit]

http://www.businessinsider.com/man-buys-bitcoin-forgets-about-it-remembers-finds-a-fortune-2013-10

"Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption"

moral of the story?

buy $26.60 of btc, and wait 4 years

That thing is on the reddit frontpage (4th place) currently.

is he holding?

[molecular]

Why so slow? Everything bitcoin related is blowing up at the moment.

Indeed, although good news has a 1-2 week delay normally before it affects the price.

It also seems to me that people are not only talking about valuation but are starting to discover that Bitcoin can actually solve some pretty huge problems we have.

[Luzio]

Why so slow? Everything bitcoin related is blowing up at the moment.

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry.  

Ok a tiny bit of bear. Isn't all the good news priced in already? That is why the price is at $210. Bitcoin has been in the world news so many times. If you are new to Bitcoin because of the current news and look back at the price, you are basically buying in at the top now, is that a good idea? I arrived late to the party in the beginning of may and waited, which was a good decision, bought in in july at around $63 on Bitstamp, a bit lucky though.

And this $27 to $855,000 story, I am sure will give a lot of people an arriving late to the party feeling, so they can't be bothered.

[ChartBuddy]

[molecular]

If you read those news articles and your a geek, your probably already own bitcoin. If your not a geek, your probably an average Joe that will look up the bitcoin wiki site and go..what the hell? crypto what?

There's a lot of education going on on reddit: http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

People are even sending $27 bitcoin tips to newbs, who are then quite dumbstruck.

An awesome opportunity to increase exposure in a positive way.

[Walsoraj]

Why so slow? Everything bitcoin related is blowing up at the moment.

Indeed, although good news has a 1-2 week delay normally before it affects the price.

It also seems to me that people are not only talking about valuation but are starting to discover that Bitcoin can actually solve some pretty huge problems we have.

And create at least two larger problems for each one it solves.

[mccorvic]

Why so slow? Everything bitcoin related is blowing up at the moment.

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry.  

Ok a tiny bit of bear. Isn't all the good news priced in already?

No.

If you go out into the real world the vast majority of people still really haven't heard of bitcoin, let alone own any.  The more big news there is it'll push that many more people towards actually owning bitcoin and participating in the economy.  I don't think anyone here besides the trolliest of bears thinks that bitcoin has reached full market saturation.

[ag@th0s]

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry.  

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

You sure about that?