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

[NamelessOne]

People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more

These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now.

[gandhibt]

BitcoinWisdom and Bitcoinity are not showing the real price at BTCChina. Real price now is 5900. http://bitcointicker.co/# this might work.

[Rampion]

People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more

These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now.

How do you know that money is going to the exchange?  The "total sent" is pretty low for the last days standards.

[Vycid]

People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more

These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now.

How do you know that money is going to the exchange?  The "total sent" is pretty low for the last days standards.

Isn't there some tool trying to launder 96k BTC right now?

[Rampion]

People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more

These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now.

How do you know that money is going to the exchange?  The "total sent" is pretty low for the last days standards.

Isn't there some tool trying to launder 96k BTC right now?

Exactly. In fact the "total sent" has been insanely high for the last couple of weeks.

[seanneko]

BitcoinWisdom and Bitcoinity are not showing the real price at BTCChina. Real price now is 5900. http://bitcointicker.co/# this might work.

Nice! I've never seen that one before.

Gox is on the way back up. $1100 and rising.

[Rampion]

I love the sound of weak hands shaken out.

Really. I love it.

[pokerman]

BTCCHINA @ 750 and dropping fast. It was nice while it lasted, hopefully we can hold triple digits...

[Vycid]

BitcoinWisdom and Bitcoinity are not showing the real price at BTCChina. Real price now is 5900. http://bitcointicker.co/# this might work.

Nice! I've never seen that one before.

Gox is on the way back up. $1100 and rising.

Yeah, show's over folks.

I love the sound of weak hands shaken out.

Really. I love it.

Me too.

BTCCHINA @ 750 and dropping fast. It was nice while it lasted, hopefully we can hold triple digits...

Plonk.

[explorer]

   That was fun     As a strict buy and holder, I just did my first trade     Had some recently purchased BTC still at the exchange, so I risked a portion of it right at the precipice, and brought home a nice $76 spread     Couldn't sleep, thought I'd check the markets, and hmmm. yahoo, and choo choo!
  

[Carra23]

The only thing sustaining this bubble is the media attention, once it plateaus, which I believe it has now, there will be a huge crash. This may be it...

You'd better short ASAP.

He probably sold long back. Thats why he is trying to scare.

I think its more likely that BTC will go down, but thats not enough for me to risk my stash.

[mmitech]

People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more

These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now.

How do you know that money is going to the exchange?  The "total sent" is pretty low for the last days standards.

Isn't there some tool trying to launder 96k BTC right now?

Exactly. In fact the "total sent" has been insanely high for the last couple of weeks.

ok I checked the last 10 blocks and I see a range from 300-5000 BTC depending on time between blocks, but 24000-36000 is happened only the last hour, yet it doesn't mean that people will sell on exchanges, it is only a speculation on my side

[gimme_bottles]

Does this mean that Chinese will have a hard time buying bitcoins since there banks may not want to allow transfers to bitcoin exchanges?

I'm a bit confused over this statement since just a few weeks ago a representative from the central bank of China came out with positive signals on bitcoin.

Exactly, china accounts for over 50% of BTC volume, this will deal a huge blow to long term potential of bitcoin. Get out while you still can

No, BTCChina accounts for over 50% of total volume, but since they have 0% trading fees, lots of foreign users try to increase their bitcoin holdings there. So not all the coins bought on BTCChina are bought by chinese people.

[seanneko]

Does this mean that Chinese will have a hard time buying bitcoins since there banks may not want to allow transfers to bitcoin exchanges?

I'm a bit confused over this statement since just a few weeks ago a representative from the central bank of China came out with positive signals on bitcoin.

Exactly, china accounts for over 50% of BTC volume, this will deal a huge blow to long term potential of bitcoin. Get out while you still can

No, BTCChina accounts for over 50% of total volume, but since they have 0% trading fees, lots of foreign users try to increase their bitcoin holdings there. So not all the coins bought on BTCChina are bought by chinese people.

What does volume refer to? Deposits/withdrawals or also trades between people?

Obviously no trading fees would massively inflate the number of trades too. Even if you sell at 6000 and buy at 5999.99 you've still made a profit, so there's much more incentive to day trade.

[spooderman]

Surely people can't still be falling for the bear traps?

[Carra23]

BTCCHINA @ 750 and dropping fast. It was nice while it lasted, hopefully we can hold triple digits...

Lol

reported.

[gimme_bottles]

Does this mean that Chinese will have a hard time buying bitcoins since there banks may not want to allow transfers to bitcoin exchanges?

I'm a bit confused over this statement since just a few weeks ago a representative from the central bank of China came out with positive signals on bitcoin.

Exactly, china accounts for over 50% of BTC volume, this will deal a huge blow to long term potential of bitcoin. Get out while you still can

No, BTCChina accounts for over 50% of total volume, but since they have 0% trading fees, lots of foreign users try to increase their bitcoin holdings there. So not all the coins bought on BTCChina are bought by chinese people.

What does volume refer to? Deposits/withdrawals or also trades between people?

Obviously no trading fees would massively inflate the number of trades too. Even if you sell at 6000 and buy at 5999.99 you've still made a profit, so there's much more incentive to day trade.

trading volume usually is the amount of coins traded between traders. so if you sell 100 BTC to some other guy, the trading volume is increased by 100 BTC.

[atleticofa]

https://www.youtube.com/watch?v=OyabiLNfjQw

[seanneko]

Does this mean that Chinese will have a hard time buying bitcoins since there banks may not want to allow transfers to bitcoin exchanges?

I'm a bit confused over this statement since just a few weeks ago a representative from the central bank of China came out with positive signals on bitcoin.

Exactly, china accounts for over 50% of BTC volume, this will deal a huge blow to long term potential of bitcoin. Get out while you still can

No, BTCChina accounts for over 50% of total volume, but since they have 0% trading fees, lots of foreign users try to increase their bitcoin holdings there. So not all the coins bought on BTCChina are bought by chinese people.

What does volume refer to? Deposits/withdrawals or also trades between people?

Obviously no trading fees would massively inflate the number of trades too. Even if you sell at 6000 and buy at 5999.99 you've still made a profit, so there's much more incentive to day trade.

trading volume usually is the amount of coins traded between traders. so if you sell 100 BTC to some other guy, the trading volume is increased by 100 BTC.

Ok, that's what I thought. So it's kinda false when people say that BTCChina has 66% of the entire market or whatever. With zero fees I could trade 1000 BTC back and forwards to my friend (or even myself) for the exact same price over and over, and end up making the volume for that day 1,000,000,000 BTC.

[Carra23]

Does this mean that Chinese will have a hard time buying bitcoins since there banks may not want to allow transfers to bitcoin exchanges?

I'm a bit confused over this statement since just a few weeks ago a representative from the central bank of China came out with positive signals on bitcoin.

Exactly, china accounts for over 50% of BTC volume, this will deal a huge blow to long term potential of bitcoin. Get out while you still can

No, BTCChina accounts for over 50% of total volume, but since they have 0% trading fees, lots of foreign users try to increase their bitcoin holdings there. So not all the coins bought on BTCChina are bought by chinese people.

What does volume refer to? Deposits/withdrawals or also trades between people?

Obviously no trading fees would massively inflate the number of trades too. Even if you sell at 6000 and buy at 5999.99 you've still made a profit, so there's much more incentive to day trade.

trading volume usually is the amount of coins traded between traders. so if you sell 100 BTC to some other guy, the trading volume is increased by 100 BTC.

Ok, that's what I thought. So it's kinda false when people say that BTCChina has 66% of the entire market or whatever. With zero fees I could trade 1000 BTC back and forwards to my friend (or even myself) for the exact same price over and over, and end up making the volume for that day 1,000,000,000 BTC.

Now look how everyone will try to downplay BTCChina's role.