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

[hyphymikey]

I am confused.

This new downtrend was due to the price rising too fast? And someone sold a shit ton of coins because why? Makes no sense. Why not just let the momentum buy through your ask wall.

The only reason I can think of, is that with these past few days being in such a huge spotlight, might as well crash the price down and discourage new buyers, giving me more time to accumulate coins.

I mean seriously! Am I just stating the obvious or am I way off track?

[Le Happy Merchant]

Japanese green teas like sencha and gyokuro are especially full of L-Theanine,

and isotopes...don't forget the isotopes

Isomers...?

http://en.wikipedia.org/wiki/Fukushima_Daiichi_Nuclear_Power_Plant

Nope, Isotopes. Iodine and Cesium mostly.

http://www.living-intentionally.com/2011/03/27/radioactive-iodine-and-cesium-in-japan-just-the-facts/

[theonewhowaskazu]

I am confused.

This new downtrend was due to the price rising too fast? And someone sold a shit ton of coins because why? Makes no sense. Why not just let the momentum buy through your ask wall.

The only reason I can think of, is that with these past few days being in such a huge spotlight, might as well crash the price down and discourage new buyers, giving me more time to accumulate coins.

I mean seriously! Am I just stating the obvious or am I way off track?

The downtrend is due to the fact that the price was high.

As the price increases too fast, people sell the Bitcoin, because they want to take profit.

[zero3112]

I don't understand why people are selling at $535 when its over $800 in china?

[jojo69]

I am confused.

This new downtrend was due to the price rising too fast? And someone sold a shit ton of coins because why? Makes no sense. Why not just let the momentum buy through your ask wall.

The only reason I can think of, is that with these past few days being in such a huge spotlight, might as well crash the price down and discourage new buyers, giving me more time to accumulate coins.

I mean seriously! Am I just stating the obvious or am I way off track?

The downtrend is due to the fact that the price was high.

As the price increases too fast, people sell the Bitcoin, because they want to take profit.

no wai

rlly?

[adamstgBit]

I don't understand why people are selling at $535 when its over $800 in china?

fear, uncertainty, and doubt

[wobber]

Strange how the gap between MtGox and Bitstamp narrows. I noticed this happens before a rally. Before a crash the gaps are bigger.

[beaconpcguru]

I am confused.

This new downtrend was due to the price rising too fast? And someone sold a shit ton of coins because why? Makes no sense. Why not just let the momentum buy through your ask wall.

The only reason I can think of, is that with these past few days being in such a huge spotlight, might as well crash the price down and discourage new buyers, giving me more time to accumulate coins.

I mean seriously! Am I just stating the obvious or am I way off track?

Just because the market cap hit ~9 Billion doesnt mean there is enough money to buy a certain amount of sell orders.  An all time high isn't an average price and people want to take profits, when there is more sellers, or profiteers, than buyers then the price goes down.  I dont know how much CNY is on the books but if someone wanted to sell 40,000 coins, worth approximately 16,000,000 usd, the slippage on a single sell would cause it to drop to half of that amount.  If they slowly sold over the course of hours/days/weeks they still have a chance of scaring the market or dropping the price in a single sell to $300.  There are 12 million coins, what if 10% of those holders wanted to cash out?  They couldn't, not for a period of months anyway, there simple isn't enough money in the market (at the moment), in fact 320,000 coins would fill every order on every exchange down to a 1$, would make alot of people happy but would eliminate any liquidity for a while.

[CryptStorm]

I think Goat called it when he observed that the bull run isn't over, it is just being throttled by fiat constraints.

So lots of people are waiting on bank transfers which is creating a huge influx of money?

I think this is an oversimplified view of things. More money is coming in, but people are also getting nervous and jumping ship the longer this thing takes to get moving again.

Furthermore, a lot of people who sent their money in to exchanges may change their mind now that the rally is over and things are slipping.

I'd be pleased to see another move upward but I have no expectation of that.

Agreed, it's not this simple. Of course the bubble didn't run out due to lack of fiat! People need to have logical consistency. During the rise everyone was proclaiming "We can't crash, there are too many exchanges, they can't all fail!". Now the same group of people are shouting "All the exchanges are out of fiat!". It doesn't make any sense.

Look at China: Fiat to the exchanges in under 5 minutes, but buying is subdued. The crash isn't because of "lack of fiat", it's because "areyoumotherfuckinginsaneitjustrose1700%"!

Boring period incoming. Thank Bitcoin -- chance to focus on your family over Christmas instead of checking the price every 20 seconds.

This is it guys. ^^^^

I've been saying that since we reached the old ATH (266) we were at DEFCON 1, DEFCON 2 started at 2X, and DEFCON 3 was when the whale thumped 900 in our faces, and it still plays out into the blood on the street, that, really, is only *just* beginning. I studied the shit out of the trades in April, knew the patterns, and slept *very* little in the last several days, sometimes getting multiple texts at 2, 3, and 4, and was up by 5 the last 2 days. I've probably checked the prices, on average, every 6 minutes of being awake. DEFCON 3 is only 3 or 4 days, and the whole parabolic cycle (20-40 days) is just exhausting.

What did I learn-- that trading is fucking tough; yeah, I made some money, but I could have done a lot better... wait for it... if I had just bought and held. Perhaps, I, too, will pass through the circle of fire that is n00b.

[Walsoraj]

blah blah blah ...

What did I learn-- that trading is fucking tough requires huge testicles, and i have a fragile vagina.

... blah blah blah

 

[Vycid]

I think Goat called it when he observed that the bull run isn't over, it is just being throttled by fiat constraints.

So lots of people are waiting on bank transfers which is creating a huge influx of money?

I think this is an oversimplified view of things. More money is coming in, but people are also getting nervous and jumping ship the longer this thing takes to get moving again.

Furthermore, a lot of people who sent their money in to exchanges may change their mind now that the rally is over and things are slipping.

I'd be pleased to see another move upward but I have no expectation of that.

Agreed, it's not this simple. Of course the bubble didn't run out due to lack of fiat! People need to have logical consistency. During the rise everyone was proclaiming "We can't crash, there are too many exchanges, they can't all fail!". Now the same group of people are shouting "All the exchanges are out of fiat!". It doesn't make any sense.

Look at China: Fiat to the exchanges in under 5 minutes, but buying is subdued. The crash isn't because of "lack of fiat", it's because "areyoumotherfuckinginsaneitjustrose1700%"!

Boring period incoming. Thank Bitcoin -- chance to focus on your family over Christmas instead of checking the price every 20 seconds.

This is it guys. ^^^^

I've been saying that since we reached the old ATH (266) we were at DEFCON 1, DEFCON 2 started at 2X, and DEFCON 3 was when the whale thumped 900 in our faces, and it still plays out into the blood on the street, that, really, is only *just* beginning. I studied the shit out of the trades in April, knew the patterns, and slept *very* little in the last several days, sometimes getting multiple texts at 2, 3, and 4, and was up by 5 the last 2 days. I've probably checked the prices, on average, every 6 minutes of being awake. DEFCON 3 is only 3 or 4 days, and the whole parabolic cycle (20-40 days) is just exhausting.

What did I learn-- that trading is fucking tough; yeah, I made some money, but I could have done a lot better... wait for it... if I had just bought and held. Perhaps, I, too, will pass through the circle of fire that is n00b.

I made 0.5% total.

It was not worth it.

Never again. I'm a firm believer in buy-and-hold now. My position has gotten big enough that I am unlikely to have cash to significantly add to my bitcoin position in the future, but I'm not looking to sell.

This is how it is: I've got a lottery ticket that matches up with everything but the powerball, and it's coming down the chute.

I could sell now and retire a couple years earlier, or I can grow some balls and get my shot at total independence. If it doesn't work out I'll be no worse off than I was last year.

I'm in for the long haul. My dream house is bought in Bitcoin or not at all.

[CryptStorm]

I am confused.

This new downtrend was due to the price rising too fast? And someone sold a shit ton of coins because why? Makes no sense. Why not just let the momentum buy through your ask wall.

The only reason I can think of, is that with these past few days being in such a huge spotlight, might as well crash the price down and discourage new buyers, giving me more time to accumulate coins.

I mean seriously! Am I just stating the obvious or am I way off track?

Just because the market cap hit ~9 Billion doesnt mean there is enough money to buy a certain amount of sell orders.  An all time high isn't an average price and people want to take profits, when there is more sellers, or profiteers, than buyers then the price goes down.  I dont know how much CNY is on the books but if someone wanted to sell 40,000 coins, worth approximately 16,000,000 usd, the slippage on a single sell would cause it to drop to half of that amount.  If they slowly sold over the course of hours/days/weeks they still have a chance of scaring the market or dropping the price in a single sell to $300.  There are 12 million coins, what if 10% of those holders wanted to cash out?  They couldn't, not for a period of months anyway, there simple isn't enough money in the market (at the moment), in fact 320,000 coins would fill every order on every exchange down to a 1$, would make alot of people happy but would eliminate any liquidity for a while.

OK, so you need to recognize that you don't get it. You need to look at a chart that is longer than 2 months old, longer than 6 months old, longer than 2 years old... go back to the beginning, read old forums, and try to understand that we are seeing the same pattern over and over and over again. It's going to take more cycles and more cycles and more cycles to get huge... only now, YOU will be able to be involved, if you gain some perspective (see forest, not trees). Cheers and good luck.

[N12]

Welcome to 2011 Reloaded.

You too will learn about risk management.

[Vycid]

Welcome to 2011 Reloaded.

You too will learn about risk management.

Did you miss US Senators talking about Bitcoins today?

Doesn't seem much like 2011.

[CryptStorm]

I think Goat called it when he observed that the bull run isn't over, it is just being throttled by fiat constraints.

So lots of people are waiting on bank transfers which is creating a huge influx of money?

I think this is an oversimplified view of things. More money is coming in, but people are also getting nervous and jumping ship the longer this thing takes to get moving again.

Furthermore, a lot of people who sent their money in to exchanges may change their mind now that the rally is over and things are slipping.

I'd be pleased to see another move upward but I have no expectation of that.

Agreed, it's not this simple. Of course the bubble didn't run out due to lack of fiat! People need to have logical consistency. During the rise everyone was proclaiming "We can't crash, there are too many exchanges, they can't all fail!". Now the same group of people are shouting "All the exchanges are out of fiat!". It doesn't make any sense.

Look at China: Fiat to the exchanges in under 5 minutes, but buying is subdued. The crash isn't because of "lack of fiat", it's because "areyoumotherfuckinginsaneitjustrose1700%"!

Boring period incoming. Thank Bitcoin -- chance to focus on your family over Christmas instead of checking the price every 20 seconds.

This is it guys. ^^^^

I've been saying that since we reached the old ATH (266) we were at DEFCON 1, DEFCON 2 started at 2X, and DEFCON 3 was when the whale thumped 900 in our faces, and it still plays out into the blood on the street, that, really, is only *just* beginning. I studied the shit out of the trades in April, knew the patterns, and slept *very* little in the last several days, sometimes getting multiple texts at 2, 3, and 4, and was up by 5 the last 2 days. I've probably checked the prices, on average, every 6 minutes of being awake. DEFCON 3 is only 3 or 4 days, and the whole parabolic cycle (20-40 days) is just exhausting.

What did I learn-- that trading is fucking tough; yeah, I made some money, but I could have done a lot better... wait for it... if I had just bought and held. Perhaps, I, too, will pass through the circle of fire that is n00b.

I made 0.5% total.

It was not worth it.

Never again. I'm a firm believer in buy-and-hold now. My position has gotten big enough that I am unlikely to have cash to significantly add to my bitcoin position in the future, but I'm not looking to sell.

This is how it is: I've got a lottery ticket that matches up with everything but the powerball, and it's coming down the chute.

I could sell now and retire a couple years earlier, or I can grow some balls and get my shot at total independence. If it doesn't work out I'll be no worse off than I was last year.

I'm in for the long haul. My dream house is bought in Bitcoin or not at all.

Yeah, I hear ya. And, we aren't dummies...

Still, I believe that the real ticket is if we can contribute to this ecosphere, actually DO something in Bitcoin, work for or start a BTC company, stay active, etc. (holy crap down to 526 while im typing...)

[Walsoraj]

Wow, some huge sells just now...

[N12]

Welcome to 2011 Reloaded.

You too will learn about risk management.

Did you miss US Senators talking about Bitcoins today?

Doesn't seem much like 2011.

Nope, listened to them and got what I expected: nothing new.

Yes, 2011 was no different, it was only lower prices.

[CryptStorm]

Hey honey would you press Market Sell on those 10K I left on the counter!???

[Voodah]

Someone is moving Gox down very theatrically.

[Walsoraj]

wtf, over 10k sells...