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

[NewLiberty]

I agree this price cannot be sustained. No level headed investor is going to buy in at the top of a huge rally like this. Investing 101 says buy low and sell high, and most investors realize this. They are not going to continue to dump money into it on a huge upswing like this. It has gone up way too high & too fast to be sustained.

I would be very surprised not to see a flash crash down to the $300-$400 range this week. I expect this to happen any moment now. You can already see the market adjusting, but I doubt it will stop at $560. Even at $560 it's gone up too high & too fast to be sustained. Sorry bulls, but Bitcoin is not ready to be steady at >$550 just yet. This is just the middle of yet another bubble... this is not the first and it will not be the last.

/speculation

Keep in mind there are OTC folks wanting to pay a lot more than gox.
There were some US$1200 sales in the last 24hours.  Localbitcoin is may hit gold parity today.
http://bitcoincharts.com/charts/localbtcUSD#rg1zig5-minztgSzm1g10zm2g25zvzl

i was feeling like shaking the monkeys out da trees this morning..looks like a better footing now!   *you talking LA prices ..i'm in Pasadena ~=)

Yeah, a guy last week wanted 5000 coins OTC.  There was a 1000 coin buyer today.  Get outta the house, I can't fill those orders.
Fast coins are worth more than cheap coins.  Exchange coins are slow coins.  How long does it take to move money to the exchange, and how many % have you lost in that time in the current market environment... 100%?
Big premium on OTC.

ya we should talk...There are some major developments going on around here with bitcoin! ~ Pacific exchange? hmmmm   *blessed!

Yes, we should.  We can get together with Travis, CEO of CoinMKT.com, in Santa Monica.  He brings in some of the beluga whales.
There are a few other folks I know with many many K's of coins in town too, but some of them are.... anonymous.  I'm a minnow by comparison, they just like to hang out with smart people that can speak their language so they tolerate me.

[BitcoinTraderFX]

Bitcoin will have to re-establish it's trend (which it hasn't done). Until then there is a high probability of more volatility and hair-pulling.

[Richy_T]

Good point.  I guess I/most people don't think about the markets when they think about the money/store of value in their pockets.  Damn - I'm in the wrong thread!

I do. I've "lost" more on GBP/USD fluctuations than I've made on BTC to date.

[Richy_T]

My wife wants to spend my coins  

Spoil her a bit! Cause for celebration all this.

I know I'll be in the dog house if I don't spoil my gf, lest she force me to choose between her and bitcoin!

"You love bitcoin more then you love me"
who hasn't heard that one before
ya i'll cash some and buy some pots and pans!

"10 Reasons why Bitcoin is Better than a Woman"?

[maz]

I have also tried to daytrade, against hubby's wishes.  I have not gained any coin doing that and I have lost a a little so I guess he is right in that.

It can be unnerving at times. Like 5 minutes ago I did a trade in about 20 minutes and made about a weeks wages for me atm, last night I dropped about 2 months wages. I still havn't lost my initial investment so it doesn't bother me at all, it's actually a funny feeling when it's just a game of numbers, but I am constantly learning and tweaking my approach. Bitcoin is now officially my hobby.

[proudhon]

My wife wants to spend my coins  

My wife told me to sell at $700 yesterday, but I said I was holding.  Think her timing is better than mine lol

My wife was annoyed at me for a long time because I didn't sell everything at $32 in 2011.

Why the hell would you tell your investments to your significant other?

Because I like her.

[CryptStorm]

My wife wants to spend my coins  

My wife told me to sell at $700 yesterday, but I said I was holding.  Think her timing is better than mine lol

My wife was annoyed at me for a long time because I didn't sell everything at $32 in 2011.

Why the hell would you tell your investments to your significant other?

Because I like her.

+1 Well put.

[ag@th0s]

My wife wants to spend my coins  

My wife told me to sell at $700 yesterday, but I said I was holding.  Think her timing is better than mine lol

Don't get me started on the wife. Mine shouted at me last night saying 'Was I not aware of the 50/50 strategy?' It was a bit of a wtf moment for me, didn't realize I was married to Michael Douglas.

LOL - "who ARE you, and what have you done with my wife!"

[sveetsnelda]

The exact reason I don't ...

+1.  He gets it.

[dasein]

It seems traders are too focused on technicals at the moment, and not focused enough on the significance of bitcoin becoming legal. Time to refocus in 2 hours.

[windjc]

I agree this price cannot be sustained. No level headed investor is going to buy in at the top of a huge rally like this. Investing 101 says buy low and sell high, and most investors realize this. They are not going to continue to dump money into it on a huge upswing like this. It has gone up way too high & too fast to be sustained.

I would be very surprised not to see a flash crash down to the $300-$400 range this week. I expect this to happen any moment now. You can already see the market adjusting, but I doubt it will stop at $560. Even at $560 it's gone up too high & too fast to be sustained. Sorry bulls, but Bitcoin is not ready to be steady at >$550 just yet. This is just the middle of yet another bubble... this is not the first and it will not be the last.

/speculation

Keep in mind there are OTC folks wanting to pay a lot more than gox.
There were some US$1200 sales in the last 24hours.  Localbitcoin is may hit gold parity today.
http://bitcoincharts.com/charts/localbtcUSD#rg1zig5-minztgSzm1g10zm2g25zvzl

i was feeling like shaking the monkeys out da trees this morning..looks like a better footing now!   *you talking LA prices ..i'm in Pasadena ~=)

Yeah, a guy last week wanted 5000 coins OTC.  There was a 1000 coin buyer today.  Get outta the house, I can't fill those orders.
Fast coins are worth more than cheap coins.  Exchange coins are slow coins.  How long does it take to move money to the exchange, and how many % have you lost in that time in the current market environment... 100%?
Big premium on OTC.

ya we should talk...There are some major developments going on around here with bitcoin! ~ Pacific exchange? hmmmm   *blessed!

Yes, we should.  We can get together with Travis, CEO of CoinMKT.com, in Santa Monica.  He brings in some of the beluga whales.
There are a few other folks I know with many many K's of coins in town too, but some of them are.... anonymous.  I'm a minnow by comparison, they just like to hang out with smart people that can speak their language so they tolerate me.

Are you guys brokering? Is that what this discussion is about?

And if Travis of CoinMKT.com has so many "whale" contacts, why is that exchange not doing any volume? Last time I checked it was dead dead dead.

Is Travis just a glorified broker with CoinMKT to make him seem "bigger" time?

I'd love to know what's going on there as I am very close by.

[pera]

Ahhhh the wonderful smell of fear in the morning, how you bulls feel today? do you believe we are going to the moon or down back to reality?

[seldon]

My wife wants to spend my coins  

My wife told me to sell at $700 yesterday, but I said I was holding.  Think her timing is better than mine lol

My wife was annoyed at me for a long time because I didn't sell everything at $32 in 2011.

Why the hell would you tell your investments to your significant other?

Because I like her.

The exact reason I don't ...

Haha.. i remember the complaining about the noisy mining rig. She has apologized since

[mccorvic]

Ahhhh the wonderful smell of fear in the morning, how you bulls feel today? do you believe we are going to the moon or down back to reality?

The only fear you're smelling belongs to the bears.  We're higher now than we were 24 hours ago despite the bears' best efforts.

[adamstgBit]

Ahhhh the wonderful smell of fear in the morning, how you bulls feel today? do you believe we are going to the moon or down back to reality?

reality is we are going to the moon.

and then bitcoin will cool off and only double every 6 months.

 

[meh32123]

Hmm it seems we still need a final capitulation?

[dasein]

Ahhhh the wonderful smell of fear in the morning, how you bulls feel today? do you believe we are going to the moon or down back to reality?

[windjc]

Hmm it seems we still need a final capitulation?

You mean after 12 hours of correction? Yeah, maybe we aren't dont just yet. 

[adamstgBit]

Hmm it seems we still need a final capitulation?

just wait till you are forced to participate in a bail in

you'll capitulate!

[alexeft]

Ahhhh the wonderful smell of fear in the morning, how you bulls feel today? do you believe we are going to the moon or down back to reality?

Can't you see the moon past us?

Poor little bear!