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

[keewee]

I must admit you bulls have balls of steel 

https://i.imgur.com/bETmUvv.jpg

https://i.imgur.com/ZK5Ycg7.jpg

I'm still a bull. But having said that, I think this is going down a bit from here. The steam seems to have gone out of this rally

[jojo69]

whoa

sheriff Adam laying down the law

well fuck you Adam!  I'm drunk and this thread ain't big enough for the both of us!

/reaches for gun but falls on ass and looks around bewildered/

[Davyd05]

.. uh.. cavirtex has a back log of verification's.. what steam are you people talking about depleting? I think if anything the members joining into the btc world are growing steadily.

I could agree the new money might wanna buy in on crashes.. but since when was the new money all smart money.. lol.

Hell I felt stupid and smart at 142.50. I see the overall volume slow but.. shouldn't that occur.. if the price has fucking risen by more then 10x since October.. 1000 isn't cheap in relative terms.. and buying .5 or .25 etc.. instead of a whole bitcoin would lower overall buy volume. So give it time till the average adopter has income where a 1000/btc is considered a nice starting place not a hefty investment.. ( my grandfather, my friends think its too much bahh .. they bought gold over btc.. sorry you missed out on the 2 extra ounces worth you'd own by now, I told em to buy last at 300-500 range and then gave up, slash changed my opinion on entering so quickly)

[BitChick]

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.)

Oh.  I never read the OP.  I thought this entire thread was about discussing our feelings!  Oops.  My bad!  

Also, how can a woman post anything without sharing her feelings?  Maybe I need to start a "Feelings about Bitcoin Price and Movement" thread.  

[Equus]

Actually, I was wondering about a thread called Economics/Speculation/b.

[seleme]

[windjc]

I must admit you bulls have balls of steel 

I agree. I have been going back and forth bear/bull since this weekends correction. This looks like a market that is tired and was just looking for a news story to give itself up to.

I mean we have had such a ridiculous amount of good news the last 6 weeks. And now, 1 day of "bad" news and the market goes down significantly. Seems to me like the market is just looking for an excuse.

If the market stays above 1000 and goes to new highs again then this market is A LOT stronger than I gave it credit for.  

Hopefully the pull back isn't for months and isn't back to <$500.   But it wouldn't surprise me.  Well the price part wouldn't surprise me. I do think, unless we get more bad news on top of bad news, that we shouldn't be in a bear market for more than a handful of weeks at the most.

There are all kinds of reasons on the horizon that could drive this market north again.

[bitboyben]

Word on the street: India.
And they hate being out done by China.
$1300 next week

[traderCJ]

Word on the street: India.
And they hate being out done by China.
$1300 next week

Source please.  Hell, you can't even legally import gold into India.  I don't think Indian regulators will take too kindly to Bitcoin, but I could be wrong.  I don't know why India didn't jump in earlier .. compared to China, they have a much higher English literacy rate so you'd think they'd already be all over the existing exchanges.

[sumantso]

Word on the street: India.
And they hate being out done by China.
$1300 next week

A big LOL from me

Credentials: Stuck in this country

[MikeH]

Word on the street: India.
And they hate being out done by China.
$1300 next week

sweet, 1.2 billion poor people gotta be good for $10.

[Vycid]

Word on the street: India.
And they hate being out done by China.
$1300 next week

Source please.  Hell, you can't even legally import gold into India.  I don't think Indian regulators will take too kindly to Bitcoin, but I could be wrong.  I don't know why India didn't jump in earlier .. compared to China, they have a much higher English literacy rate so you'd think they'd already be all over the existing exchanges.

They will not take kindly to Bitcoin at all. India's balance of trade has been suffering due to their gold imports, and since I'm guessing most Bitcoins are outside Indian borders, a Bitcoin craze will just worsen that problem.

However, Indian regulators are breathtakingly slow to act, and often ineffectual when they do. It is conceivable that India will "come online" before their government even grasps the concept.

The important difference between India and China is that China has experienced much, much greater recent growth in its middle class. It's only rich and middle class folks who have the disposable income to buy bitcoins with, and so there are many more potential buyers in China than India.

It's not reasonable to expect a second "China effect" out of India. Our attention now should be focused on Wall Street.

[gizmoh]

Word on the street: India.
And they hate being out done by China.
$1300 next week

_______________________________________
Why did I sell at $5! Come back to me my old bitcoin! 1GjeBGS4KrxKAeEVt8d1fTnuKgpKpMmL6S

Your next personal msg: why didn't i sell at $1,000  

[Nemo1024]

So, guys, is this a welcome correction or a turn to bear market?
I must admit that my call of going all BTC (Bitstamp:$1030) yesterday evening was wrong. I thought about placing a margin order @ 955, but then thought: almost a whole day of sideways, I've seen it before, there were outbreaks up after that...

[Vycid]

So, guys, is this a welcome correction or a turn to bear market?
I must admit that my call of going all BTC (Bitstamp:$1030) yesterday evening was wrong. I thought about placing a margin order @ 955, but then thought: almost a whole day of sideways, I've seen it before, there were outbreaks up after that...

Less than a week ago we double bottomed on Gox, then bounced up again.

We found the same support level this time (under even higher volume) and we're trading above $1000. I don't see any reason for concern unless you leveraged at $1240.

For most people it comes down to this: if you're constantly second-guessing your long position you just have too much money invested.

[hmmmstrange]

Word on the street: India.
And they hate being out done by China.
$1300 next week

sweet, 1.2 billion poor people gotta be good for $10.

Yes you are correct that Indians have a very low earnings per capita, somewhere around $1500 per year. But you have to take into account that they consistently save over 30% per year, with the mean savings rate over 20%. Comparing to the US of a overall savings rate of 2.6% and a mean savings rate of -6%, yes the average American doesn't save at all.

[MahaRamana]

So, guys, is this a welcome correction or a turn to bear market?
I must admit that my call of going all BTC (Bitstamp:$1030) yesterday evening was wrong. I thought about placing a margin order @ 955, but then thought: almost a whole day of sideways, I've seen it before, there were outbreaks up after that...

Less than a week ago we double bottomed on Gox, then bounced up again.

We found the same support level this time and we're trading above $1000. I don't see any reason for concern unless you leveraged at $1240.

We might have good support at 900 with a double bottom but it can also be argued that we have a double top at 1240.
I think we probably go to find more support a third time before attacking ATH.

[Vycid]

So, guys, is this a welcome correction or a turn to bear market?
I must admit that my call of going all BTC (Bitstamp:$1030) yesterday evening was wrong. I thought about placing a margin order @ 955, but then thought: almost a whole day of sideways, I've seen it before, there were outbreaks up after that...

Less than a week ago we double bottomed on Gox, then bounced up again.

We found the same support level this time and we're trading above $1000. I don't see any reason for concern unless you leveraged at $1240.

We might have good support at 900 with a double bottom but it can also be argued that we have a double top at 1240.
I think we probably go to find more support a third time before attacking ATH.

Yeah, we may be establishing a 900-1240 channel. Thing is, that comes off to me as extremely bullish. The idea that Bitcoin can more-or-less convincingly park itself in the four digit range after such a massive runup is building confidence. And for a store of value, confidence is everything.

All of Bitcoin's history has featured a crash after the meteoric rises. If it fails to crash this time, that alone may set off another rally within a few weeks.

Things are clearly different this time. Bitcoin is taking the market panics in stride. I am much more concerned about missing the potential upside than the potential downside.

[gandhibt]

So, guys, is this a welcome correction or a turn to bear market?
I must admit that my call of going all BTC (Bitstamp:$1030) yesterday evening was wrong. I thought about placing a margin order @ 955, but then thought: almost a whole day of sideways, I've seen it before, there were outbreaks up after that...

Less than a week ago we double bottomed on Gox, then bounced up again.

We found the same support level this time and we're trading above $1000. I don't see any reason for concern unless you leveraged at $1240.

We might have good support at 900 with a double bottom but it can also be argued that we have a double top at 1240.
I think we probably go to find more support a third time before attacking ATH.

Yeah, we may be establishing a 900-1240 channel. Thing is, that comes off to me as extremely bullish. The idea that Bitcoin can more-or-less convincingly park itself in the four digit range after such a massive runup is building confidence. And for a store of value, confidence is everything.

All of Bitcoin's history has featured a crash after the meteoric rises. If it fails to crash this time, that alone may set off another rally within a few weeks.

Things are clearly different this time. Bitcoin is taking the market panics in stride. I am much more concerned about missing the potential upside than the potential downside.

Right on, besides chart tells you that important supports are not broken so until then we're definitely going up. There's triangles forming in stamp, gox and china, maybe we well soon "know" are we trying to break support or resistance next.

EDIT. triangles break to up uP UP!

[DaRude]

Wow BTC-e is just 6$ from stamp  what's going on with that? People stopped buying altcoins? Or started to trust btc-e more? Or it's just a bitcoin world where nothing makes sense