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

[navigator]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

[mccorvic]

$321?

Well fuck me.

Don't feel bad. Even we bulls are kinda like "Well, didn't see THIS coming"

[DougTanner]

$321?

Well fuck me.

Don't feel bad. Even we bulls are kinda like "Well, didn't see THIS coming"

*Raises hand*

[spooderman]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

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[BlueTemplar]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

What bad news happened before 9 April 2013 ?

[haightst]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

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via moooving decimals?..hmm  

[spooderman]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

What bad news happened before 9 April 2013 ?

a fair question. well gox getting dosd made a lot of people panic, and if enough people panic a crash becomes unstoppable.

[Sitarow]

[Nemo1024]

Bid walls on Bitstamp are gone.

[BitchicksHusband]

kicking myself for not having 3 times the coin and losing faith of the past 6 months. what an idiot, what can you do.

I think my new strategy is if this goes down to 100$ just buy more and hold. I fail at trading and bitstamp is my new home and is unreliable for trading anyway.

So, it sounds like your new strategy is going to be kicking yourself because you didn't buy at $200.

I went all in at 204, the bear in me died when I saw the move was so obviously coming

Good for you. Even though my post was a bit snarky, I'm really happy that you got in at a good price and you WON'T be kicking yourself for not getting in at $200.  Well done.  See you at $10,000.

[Walsoraj]

It does appear that we will be visiting the oort cloud soon....

[BitchicksHusband]

if history were to repeat itself (2011 high of $32, 2013 high of $266), just from a log graph perspective, what would be the next bubbles' ATH?

in other words, stable price->$32, then stable price->$266...

what was this bubbles' (if it is a bubble, i haven't a clue) stable price, and what would the top be if we only look at the previous two bubbles' stable->ATH?

just curious

I figured it out on another thread.  It was $450-$500 if it behaved the same as before.  Which, of course, nothing ever does.  It will be interesting to see if the Chinese drag us up again tomorrow.

[Sitarow]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

What bad news happened before 9 April 2013 ?

a fair question. well gox getting dosd made a lot of people panic, and if enough people panic a crash becomes unstoppable.

As far as the bitcoin potential network 51% attack or Bitcoin's global acceptance as currency. Both issue's were plaguing Bitcoin's future uncertainty.

Add the anxiety that the primary trade venue was MTGox and that it was "tested" hit with a DDOS back in April 10th 2013.

However if you jump to Bitcoin Today.

Since then the network jumped from 111,000 GH/s back in June 5th 2013 to over 3,657,378 GH/s November 5th 2013.

Add in that US banking institutions have taken steps to no longer support international wire transfers out of US.

Government institutions around  the world recognizing that bitcoin is a measure of value (currency)

ATM's and even Debit Cards are being offered in Canada.
Germany has a great taxation policy to bolster adoption.
A future potential ETF in USA, enabling your grandparents to easily invest in bitcoin will only accelerate user adoption.
Finally less not forget that China has been positioning themselves as offering a new world currency for trade.

They are already trading outside of the Fed's Reach with Russia, Australia, Brazil, just to name a few.

Here is a good read, http://www.zerohedge.com/news/2013-10-18/9-signs-china-making-move-against-us-dollar

[Spaceman_Spiff]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

I think otherwise, if we go up spectacularly, we 'll go down spectacularly (though ending higher probably).

[spooderman]

It's a steep climb to 350

edit: whoever sold 10k yesterday lost $500,000 by not selling today. Can't work out why.

[justusranvier]

The technical support meltdown in #mtgox right now is quite a spectacle to behold.

The only one giving answers is I think the girlfriend of one of the support staff (SarahCoinBit), and the only thing she can tell people is that their coins are safe and Mark won't be making an official statement any time soon since it's 1 am in Japan.

There does seem to be some useful information leaking out though. Something about withdrawal transactions ending up with too many outputs and not enough fees.

[BlueTemplar]

It's extremely possible there could be no big crash this time around. All the people selling now expecting a 3rd crash so they can buy back in will be fucked. Most of the last crashes involved some bad news of sorts. Things tend to happen twice in bitcoin, but not a third time. Don't be surprised if all we get are mini crashes on the way up. It's a good way to take coins from the weak hands who don't know what they have.

What bad news happened before 9 April 2013 ?

a fair question. well gox getting dosd made a lot of people panic, and if enough people panic a crash becomes unstoppable.

Hmm, indeed this is what might have happened...
http://venturebeat.com/2013/04/21/mt-gox-ddos/

The question is :
Considering it already happened twice, isn't it symptomatic of a bubble that would incite some people to do just this kind of attack? Note that this time we don't have a single dominant exchange anymore, so what if this happens again, but only to one of them? (Other people might get rich on spreads, methinks...)

[jojo69]

HOLY FUCKING CHRIST guys, I leave you alone for 7 fucking hours and you eat the furniture

what am I going to do with y'all?

[mccorvic]

The technical support meltdown in #mtgox right now is quite a spectacle to behold.

Is this in regards to people not being able to get fiat out? Or is it fiat AND BTC?

[justusranvier]

Or is it fiat AND BTC?

Fiat is old news.

Something's wrong with BTC withdrawals too, some kind of input selection / transaction fee problem in their backend.