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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26403978 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
fluidjax
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November 20, 2013, 05:17:32 PM
 #46401

That was a huge amount of interest in Bitcoin on Reddit and Wiki yesterday compared to previous days/weeks.

http://www.reddit.com/r/bitcoin/about/traffic

There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
Joenaes
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November 20, 2013, 05:18:38 PM
 #46402

This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat Sad
Pruden
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November 20, 2013, 05:19:10 PM
 #46403

That was a huge amount of interest in Bitcoin on Reddit and Wiki yesterday compared to previous days/weeks.

http://www.reddit.com/r/bitcoin/about/traffic

There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
What if they decide to wait out this crashcorrection, making it become a full bear market?
derpinheimer
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November 20, 2013, 05:19:51 PM
 #46404

This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat Sad

Lol Tongue

One more 10k dump and its definitely going to pop. If no big dumps come then who the hell knows.
adamstgBit
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November 20, 2013, 05:20:28 PM
 #46405

This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat Sad

ya me too...

but #1 golden rule of trading, stick to your trade.


either way i make money so who cares.
CryptStorm
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November 20, 2013, 05:22:22 PM
 #46406

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!
If you want to be serious and have the time to dedicate, IMO it's the best thing to learn technical analysis. I've learnt a lot from waveaddict (whom I still subscribe to) and in the beginning S3052. Here is a good free source to start out: http://www.babypips.com/school

Otherwise, I would simply hold BTC if I really saw much potential left until a bubble happens and bursts, which is the optimal time to diversify. If things look good after a few months and it isn't in a severe downtrend, it is probably. In case you haven't bought yet but would like to do so, I agree the best one can to is dollar cost averaging. Allocate money you want in BTC and set an interval you regularly buy at.

If Bitcoin is to rule the world, both approaches will work very well.

Maybe this can help you too if you think you can quantify a few things: http://www.investopedia.com/terms/k/kellycriterion.asp

This does help-- thanks a bunch.  Smiley
micalith
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November 20, 2013, 05:24:45 PM
 #46407

so the exchanges are gradually finding prices that are closer to one another. This means the west having this rise, and China kind of staying put. It does make the china market look like it's having a nice healthy stay at what might be its 'bottom', contrasting the west's apparent premature rise . . .
miningnew
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November 20, 2013, 05:25:31 PM
 #46408

This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat Sad

ya me too...

but #1 golden rule of trading, stick to your trade.


either way i make money so who cares.
Same here Come on pop already i am thincking about buying back with loss ;(
ardana123
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November 20, 2013, 05:25:52 PM
 #46409

China doesn't like this rise.
adamstgBit
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November 20, 2013, 05:27:27 PM
 #46410

China doesn't like this rise.

China  is the cause of this rise!

look they are trying to bottom
Richy_T
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November 20, 2013, 05:28:16 PM
 #46411

Exchanges are obsolete. They're just trading on inertia.
Care to explain?

All you need is Bitcoin Cheesy Cheesy Cheesy
derpinheimer
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November 20, 2013, 05:28:26 PM
 #46412

China doesn't like this rise.

Theyre still almost $700.. lol
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November 20, 2013, 05:29:35 PM
 #46413

A bull is a person who does not hold fiat.

A bear is a person who holds at least some fiat and wants to return to BTC.

As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?

Everyone else are bulls? The bears are all over this forum today predicting their doom and gloom, even Blitz turned bear and is preaching 2011 all over again. Tongue

~~~i'm a /\sharky i will devour anything in my path!  Cool chomp chomp
Richy_T
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November 20, 2013, 05:30:32 PM
 #46414

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?
derpinheimer
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November 20, 2013, 05:32:00 PM
 #46415

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?

I agree. Saying its "In the works" does not mean it shouldnt count.

Also, down we go?
Peter R
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November 20, 2013, 05:32:50 PM
 #46416


A bull is a person who does not hold fiat.

A bear is a person who holds at least some fiat and wants to return to BTC.

As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?


What about all the bulls that earn a paycheque in fiat?  

If your income is in dollars or euros, etc., it seems reasonable to allocate (say) 20% of your long-term-savings money to BTC.  This would add constant upwards price pressure.  A lot of bitcoiners are young: their BTC holdings in absolute terms will rise, despite bitcoin becoming a smaller and smaller % of their net worth.  
haightst
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November 20, 2013, 05:34:05 PM
 #46417

Craaaaazy rollercoaster.

Don't forget to sell on the way up. Or the newbies cry after the next bubble pop.


the next bubble to pop is America

LOL -> food stamp X bitcoin exchange! (coming soon!)  Wink haaaa
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November 20, 2013, 05:39:59 PM
 #46418

stick to your trade.


no kidding, took me too long to learn that, so much better since I stopped making losing trades...lol
Parazyd
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November 20, 2013, 05:40:54 PM
 #46419

I just turned 100% bull  Cheesy

No more fiat in my Bitstamp
Pruden
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November 20, 2013, 05:41:27 PM
 #46420

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.
In Spanish, the words for "inversion" and "investment" are the same. Makes sense, because when making an investment you are giving away your money with no immediate benefit, hoping for more in the future. You are not buying what it is, but what you think it will be.
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