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

[ChartBuddy]

[CalibrataBG]

10K is very real for 2014!
Look at the charts ... we have 13$ at January and we'll hit 1300$ by the end of the year. That's a staggering 1000 times up!

So if we get 500 times up till Dec 2014 ... that's about 500K. Think about it...
It's never going back below 1000$, it's only up, up ... unless some drastic news screw it back to zero. But that will be the end of it!

Correction ... it's 100 times, not 1000 but you get the picture

[Zangelbert Bingledack]

^ One too many zeroes there.

But anyway, we've been doubling like every ten days. If the trend continues we'll be near 10K by the end of this year. Doubtful, but very much a possibility, especially as part of a final blow-off that ends up crashing into the low thousands.

[Carra23]

It's never going back below 1000$

Famous last words.

[MahaRamana]

^ One too many zeroes there.

But anyway, we've been doubling like every ten days. If the trend continues we'll be near 10K by the end of this year. Doubtful, but very much a possibility, especially as part of a final blow-off that ends up crashing into the low thousands.

10K a pop means to blow the market cap from 14.4 billions today to 120 billions

Extremely small chance of that happening. 31th December 2014 yes, but 2013 no.
That would require some extremely good news triggering huge inflows of money from investors. I don't think the current infrastructure would take it.

It has little to do but to put things into perspective, Facebook has a market cap of 115 billions.

[Vycid]

Hey folks, a PSA -

If you did any mining earlier this year (or even earlier than that!  ), check all the pools you used. You may have balances in quite a few of them, and those pools have probably decreased their minimum withdrawal amount.

I just found $100 worth of LTC and BTC dust. Not bad for sofa cushion money.

[SimonJones]

10K is very real for 2014!
Look at the charts ... we have 13$ at January and we'll hit 1300$ by the end of the year. That's a staggering 1000 times up!

So if we get 500 times up till Dec 2014 ... that's about 500K. Think about it...
It's never going back below 1000$, it's only up, up ... unless some drastic news screw it back to zero. But that will be the end of it!

Correction ... it's 100 times, not 1000 but you get the picture

I need to learn some of your Math. We could make good profits

[rpietila]

Crash, crash CRASH

[Vycid]

Crash, crash CRASH

Are you also in the habit of shouting "FIRE!" in theaters?  

The more interesting data for comparison, I think, is actually what volume tends to be during calm periods. It makes no sense to compare the present volume to what the volume was at the beginning of a giant price spike.

I should also point out that this hypothesis horribly fails backtesting, considering that we did indeed have a "crash" less than two weeks ago and nevertheless continued upward movement on increasingly thin volume.

[fred1111]

It has little to do but to put things into perspective, Facebook has a market cap of 115 billions.

The Bitcoin market cap should be compared to fiat and commodities, not stocks.
Cyprus is next.

[Vycid]

Crash, crash CRASH

Are you also in the habit of shouting "FIRE!" in theaters?  

The more interesting data for comparison, I think, is actually what volume tends to be during calm periods. It makes no sense to compare the present volume to what the volume was at the beginning of a giant price spike.

I should also point out that this hypothesis horribly fails backtesting, considering that we did indeed have a "crash" less than two weeks ago and nevertheless continued upward movement on increasingly thin volume.

As an afterthought, the most obvious external factor: MtGox has zero fees right now, of course bitstamp volume will drop.

[philip2000uk]

^ One too many zeroes there.

But anyway, we've been doubling like every ten days. If the trend continues we'll be near 10K by the end of this year. Doubtful, but very much a possibility, especially as part of a final blow-off that ends up crashing into the low thousands.

10K a pop means to blow the market cap from 14.4 billions today to 120 billions

Extremely small chance of that happening. 31th December 2014 yes, but 2013 no.
That would require some extremely good news triggering huge inflows of money from investors. I don't think the current infrastructure would take it.

It has little to do but to put things into perspective, Facebook has a market cap of 115 billions.

Yeah but no-one is really ploughing their savings into facebook.  It would be great if Ebay users used Bitcoin, they already are annoyed at chargebacks from buyers saying they didn't receive the item.  The CC company always sides with their customer. 

[ChartBuddy]

[gandhibt]

Crash, crash CRASH

Bitcoin is a store of value. It's only natural that when the market cap rises, higher % amount goes to long-time saving. Volume in USD has staid nearly the same.

(Seems like you desperately want to buy back in, doing anything for the USD win)

[Vycid]

Crash, crash CRASH

Bitcoin is a store of value. It's only natural that when the market cap rises, higher % amount goes to long-time saving. Volume in USD has staid nearly the same.

(Seems like you desperately want to buy back in, doing anything for the USD win)

Mmm, no, I disagree. I do think it is reasonable to expect some proportionality between market cap and volume.

There are two things working behind the scenes: one is that I believe volume is ALSO proportional to volatility, and since there's been extreme volatility in the past weeks (and it's calmed some recently), it's not surprising volume has dropped quite a bit.

The other is that MtGox is offering 0% fees, which I suspect has drawn all the trade volume away from Bitstamp, where rpietila has gotten his volume data.

Anyway, the exchanges have drifted closer together on this comparatively tranquil leg. I suspect we will be moving again soon, but I'm not at all convinced it will be downward. The trend is unbroken and I have learned not to believe I can outsmart the market.

[MOVERZZZ]

Crash, crash CRASH

LOL! are you still short?  = FOOL!!!

[ShroomsKit]

Crash, crash CRASH

You are starting go look desperate now. Sad.
Not saying it won't crash but we all know why you are making these posts.

[Odalv]

Crash, crash CRASH

LOL! are you still short?  = FOOL!!!

rpietila SELL ALL YOUR COINS !!!

[MOVERZZZ]

Those without bitcoin...

https://i.imgur.com/vhFBjyR.png

Those with bitcoin...

https://i.imgur.com/3XvmwfQ.jpg

______________________

$BTC
+1337+

http://i1.ytimg.com/vi/VCC1H7MSIsg/hqdefault.jpg
/\WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!+1EE7+

[Vycid]

Crash, crash CRASH

You are starting go look desperate now. Sad.
Not saying it won't crash but we all know why you are making these posts.

Check this out.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

you're hoping for a crash to get back in 

Pros don't hope. They adjust the bets so that they win regardless. (If they are in the position to move the markets, they will)

And what about the pros who have taken the opposite position and also would like to win?

It's my observation that the most successful traders are not usually given to hubris.