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

[TERA]

I feel a lot different about my trade now that I'm speculating about maybe another 50% gain rather than the original speculation about a 600% gain when I originally took my position at $120, of which a 300% gain has already been realized.  Would you guys shun me if I took some of my profits off the table?

[haightst]

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

THERE IS MY 4-7-5!!!/\KAIN'T SLEEP=NOW I'D SAY START BUYING!! LOL =)


https://i.chzbgr.com/maxW500/5682407680/h6277E6E6/

[Painful Truth]

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

Price is high? What do you say at 1,000? 10,000?

People always can buy 0.1 bitcoin. Price is still below $50.

[macsga]

BTC is breaking the $500 mark today. After that point anything is possible.

[haightst]

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

THERE IS MY 4-7-5!!!/\KAIN'T SLEEP=NOW I'D SAY START BUYING!! LOL =)


https://i.chzbgr.com/maxW500/5682407680/h6277E6E6/

What an ugly little fish...

he will eat the 500zzz and not look back!~ LMAO 

[San1ty]

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

Completely wrong assumption, loss potential is exactly the same.

[Nagan]

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

First world problems

[gandhibt]

How about little weekend rally instead of dip =D

[ardana123]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

[lebing]

Looking at the chart right now is freaking me out. If we were to do an april all over again 1000 could be exceeded next week. 

[wilfried]

because people are not told to buy bitcoins, google stock lives from bloody dumb consumers that do what they are told. in terms of bitcoin there is no big daddy telling dos-xx and bitcoin is what i consume..

[Vycid]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Volume. GOOG averages 2,085,000 shares. That's per day. That means a total transaction value of 2085000 * $1033.56 = $2.155B/day. Bitcoin's total market cap is barely twice that, and its daily volume pales in comparison.

This is a big reason why Bitcoin doesn't behave like a traditional market - it's thinly traded.

The addition of something like the Winklevoss ETF would likely introduce a lot of that traditional market volume into the Bitcoin ecosystem and things would start looking more like Google pretty fast.

Also, Google has metrics like revenue, intellectual property, and so forth that give analysts a reasonable idea of what the company (and thus the stock) is worth. Bitcoin has no clear path to valuation and that means we run on sentiment. We humans are fickle creatures, so running on sentiment alone doesn't do much for price stability.

[macsga]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Volume. GOOG averages 2,085,000 shares. That's per day. That means a total transaction value of 2085000 * $1033.56 = $2.155B/day. Bitcoin's total market cap is barely twice that, and its daily volume pales in comparison.

This is a big reason why Bitcoin doesn't behave like a traditional market - it's thinly traded.

The addition of something like the Winklevoss ETF would likely introduce a lot of that traditional market volume into the Bitcoin ecosystem and things would start looking more like Google pretty fast.

Also, Google has metrics like revenue, intellectual property, and so forth that give analysts a reasonable idea of what the company (and thus the stock) is worth. Bitcoin has no clear path to valuation and that means we run on sentiment. We humans are fickle creatures, so running on sentiment alone doesn't do much for price stability.

This!

[JimboToronto]

Yeah the biggest buy I see now is 1K. There used to be 5K buys, 10K buys, 25K buys... I haven't seen those since August. This is being driven entirely by a lack of supply now. The total accross all exchanges is like 25K btc. This is definitely a danger zone.

Did you even stop to consider that coins worth over $450 now traded for less than $100 in July.

Of course the number of coins per trade will be less than a quarter of what they were last summer.

I know you desperately want the price to go down but you should try to be more realistic. Wishful bear thinking will get you nowhere.

[ardana123]

^ Thanks for the explanation. Even with the shitty volume the bitcoin markets have, the price has reached nearly half that of Google stock. What could this mean if volume starts reaching that of traditional markets, to the m00n?

[haightst]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

ok let me make this simple ====>

http://www.otcmarkets.com/stock/GOOG/company-info

GOOG : Shares Outstanding   276,721,703  @  $1033 price per share

BTC :  Coins (to be) Outstanding 21,000,000 @ $475 price per coin


*this is why/\BTC could see $10K+ in the coming months!*imho*  

[wilfried]

i dont think so, if bitcoin market becomes mainstream the big player will take the lead and we will be happy if we make profits on the third digit after the comma, as in forex...

see i.e.

http://blogs.reuters.com/felix-salmon/2012/08/06/chart-of-the-day-hft-edition/

[ChartBuddy]

[TheKoziTwo]

What could this mean if volume starts reaching that of traditional markets

Then I hope you are already wearing your space suit.  

[justusranvier]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.