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

[User705]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

Well, it certainly helps when the price is several times above your initial investment. The Silk Road Crash was terrifying for me, and while I made some profit from it it would've been a lot better without the emotion.

But I think you're right. Whales have less influence and apparently cannot topple the market on a whim. We will have to rise much higher for that to happen. I'll be ready. 

That or the reason this rise exists is because silk road took 200,000 bitcoins of the market and now we have another 100,000 out with sheep market theft.  Or not.

[Nolo]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

No. Everyone else is completely unfazed as well.

Well damn.  I thought I was just personally starting to become "cooler" to these swings.  Apparently everyone else is as well.   

[jojo69]

unfazed yes...feeling a little thin under us here though, hoping for a lower entry point yet

[solex]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

No. Everyone else is completely unfazed as well.

Well damn.  I thought I was just personally starting to become "cooler" to these swings.  Apparently everyone else is as well.   

Yeah, I am much happier now that Barry Silbert has our backs, ready to turn his firehose of fiat on any flash crash.

[ChartBuddy]

[SheHadMANHands]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

No. Everyone else is completely unfazed as well.

Well damn.  I thought I was just personally starting to become "cooler" to these swings.  Apparently everyone else is as well.   

Yeah, I am much happier now that Barry Silbert has our backs, ready to turn his firehose of fiat on any flash crash.

 `

[seleme]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

Well, it certainly helps when the price is several times above your initial investment. The Silk Road Crash was terrifying for me, and while I made some profit from it it would've been a lot better without the emotion.

But I think you're right. Whales have less influence and apparently cannot topple the market on a whim. We will have to rise much higher for that to happen. I'll be ready. 

Bold part is very true, just wrote about it on other thread.

The only people that are shitting their pants at each 20$ or so dip are those that invested in last month or two and are scared to death that their investment might be wiped out. Most of us were there and acted like that. But with time, you just learn that BTC always come back and only governments banning it could make a difference. Since most important government basically gave a green light 2 weeks ago the only point is if we are going to take advantage of those dips, flash crashes or bear markets.

[traderCJ]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

Well, it certainly helps when the price is several times above your initial investment. The Silk Road Crash was terrifying for me, and while I made some profit from it it would've been a lot better without the emotion.

But I think you're right. Whales have less influence and apparently cannot topple the market on a whim. We will have to rise much higher for that to happen. I'll be ready. 

Bold part is very true, just wrote about it on other thread.

The only people that are shitting their pants at each 20$ or so dip are those that invested in last month or two and are scared to death that their investment might be wiped out. Most of us were there and acted like that. But with time, you just learn that BTC always come back and only governments banning it could make a difference. Since most important government basically gave a green light 2 weeks ago the only point is if we are going to take advantage of those dips, flash crashes or bear markets.

Agreed, I'm pretty jaded.  I got in around $250 and threw some money at alts.  For me to lose money, we'd need to drop deep into the $200s.  That's just me, so I tend to shrug off a lot of this.  I remember back before April when I jumped in around the $100 point and was not a happy camper.  I suppose going through all of that steels one's resolve.  I suspect most of the people here have been through similar trials and tribulations.

If we already had a perfect technology with 100% acceptance, it would already be too astronomically expensive to afford in bulk.  People seem to expect they're going to get a deal.  Nope.  You get what you pay for.

[BitChick]

Am I the only one completely unfazed by this drop?  Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again?  As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops.  Corrections have to happen in the growth process I believe.  The great thing I am seeing is that the drops are getting smaller percentage wise.  Perhaps due to the larger number of holders and less whales that can manipulate prices?  

No. Everyone else is completely unfazed as well.

Well damn.  I thought I was just personally starting to become "cooler" to these swings.  Apparently everyone else is as well.   

Yeah, I am much happier now that Barry Silbert has our backs, ready to turn his firehose of fiat on any flash crash.

 `

I am thankful for Barry Silbert and Second Market.  I was just thinking that perhaps the drop is really good because maybe Second Market can call people and tell them that there is  "sale" on BTC going on! 

Also, there is a discount on fees through the end of the year.  Will there be a bunch of people jumping in at Second Market before December 31st to take advantage of the small discount? 

[CryptStorm]

If you want to know what is happening just look at the chart on Dec. 2 - we are going through a replay of that algorithm pattern after the big sell-off. I am guessing it will hit close to $1010 over the next three hours. Maybe lower.

Nice call. What happens after we hit 1200?

It will probably be the ATH or close, so $1240 or so. Uhhh... I have no idea. He could continue running the bot, which would mean a sell-off again; he could switch up to a new algo; natural buying pressure could push us higher; he may have so much leverage he can crash the entire thing... But that doesn't really narrow it down. If we have a period of steady price for about a day or so, there will probably be another massive sell-off. I will probably sell around the $1230 mark to be safe. Just have to wait and see what happens.

Please stop knowing everything, reading my mind, and giving away my strategy. 

[gizmoh]

Ya.  Just spent some fiat.  We'll see.

My $1010 prediction was perfect.

Hats off man, now i gotta give credit to this algo trader theory.There is some higher power above controlling the coin 

[traderCJ]

Ya.  Just spent some fiat.  We'll see.

My $1010 prediction was perfect.

Hats off man, now i gotta give credit to this algo trader theory.There is some higher power above controlling the coin 

I must have missed Larry King Live, what's the grand prediction here?  I believe that this most recent sell off is simply an expectation that more Chinese investors would dump in the morning .. so all the European night owls and Americans start dumping as the Chinese awaken ..

[Nightowlace]

Has anyone gone back and read the OP for the hell of ot? I did. It's kind of funny

[Walsoraj]

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

^ we dive tonight.

[Vigil]

If the bot pattern that I think may be happening is actually happening, we are going to briefly drop to around 1010-1020 in the next 7 hours.

Just a side note... Gox is the only place I have traded where I lost coins having sold higher than I bought them. Ponder that.

Ya.  Just spent some fiat.  We'll see.

My $1010 prediction was perfect.

Hats off man, now i gotta give credit to this algo trader theory.There is some higher power above controlling the coin  

thanks. Someone is able to manipulate because of the low volume. I'm sort of trying to decide how much of the current price is market supported. This whole $1250 high could have been the result of manipulation on Gox and BTCChina, despite what everyone wants to think about Chinese and such. Not saying it is for sure...

I must have missed Larry King Live, what's the grand prediction here?  I believe that this most recent sell off is simply an expectation that more Chinese investors would dump in the morning .. so all the European night owls and Americans start dumping as the Chinese awaken ..

So, last week I pointed out the algo pattern that continued for about a week or so. I then today realized there was a new algo pattern and based on that pattern made a prediction of how the price chart would proceed on Gox with the exact low and time-frame. The China news was coincidental, the sell-off was coming anyway as a result of the bot. The manipulator is playing with at least BTC1000 or more.

[Vigil]

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

^ we dive tonight.

But he continued the pattern for days previously and he has to raise the price to sell-off and make a profit. unless, the manipulator doesn't care about profit. But to bring the price up he still needs buyers and if we are out of them then all the price can do is remain steady or fall, obviously.

[dwdoc]

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

^ we dive tonight.

Another in a string of brilliant predictions.

We rocket to ~$1400, then mega crash on thanksgiving while everyone is celebrating w family and not paying attention to tickers.

 

[ChartBuddy]

[pera]

I must admit you bulls have balls of steel 

[Equus]

Has anyone gone back and read the OP for the hell of ot? I did. It's kind of funny

Do not post random comments on this thread, unless it is directly related to the last wall update
...
just don't be posting about your "FEELINGS" and you won't get delete.  

You have all been warned.  Keep it on topic, guys and gals.


Also: TO THE MOON!!!!!!!!  (Next Tuesday, back to low orbit next Wednesday.)