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

[Hfertig]

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

The crisis was imaginary. What happened in China was actually good news.

Can you elaborate why ?

http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

Interesting, suddenly people do trust investment bankers

[Walsoraj]

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

The crisis was imaginary. What happened in China was actually good news.

Can you elaborate why ?

http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

[JimboToronto]

Ahhh. A refreshing little buy.   

[btcprice]

Hold on to your balls. We're going to be in for a bumpy ride!

[freethink2013]

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

The crisis was imaginary. What happened in China was actually good news.

Can you elaborate why ?

http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

this explains btc-e's recent surges

[justusranvier]

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

I would believe that, except that it doesn't make sense for somebody who doesn't want to get caught in ID verification to dump less-traceable bitcoins on BTCChina for more-traceable CNY.

That scenario would have played out like the Mt Gox withdrawal problems this summer, where traders with trapped fiat would buy bitcoins, withdraw them to another exchange, and sell there.

[freethink2013]

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

I would believe that, except that it doesn't make sense for somebody who doesn't want to get caught in ID verification to dump less-traceable bitcoins on BTCChina for more-traceable CNY.

That scenario would have played out like the Mt Gox withdrawal problems this summer, where traders with trapped fiat would buy bitcoins, withdraw them to another exchange, and sell there.

dumb money dumped, smart money moved

[Walsoraj]

Ahhh. A refreshing little buy.   

The buyer and seller are clearly the same trader. This tends to happen as we approach psychological barriers. In this case, $800.

[Ivanhoe]

Break out in progress.

[Walsoraj]

Break out in progress.

Bull trap.

[Ivanhoe]

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

I would believe that, except that it doesn't make sense for somebody who doesn't want to get caught in ID verification to dump less-traceable bitcoins on BTCChina for more-traceable CNY.

That scenario would have played out like the Mt Gox withdrawal problems this summer, where traders with trapped fiat would buy bitcoins, withdraw them to another exchange, and sell there.

dumb money dumped, smart money moved

+1 Yup, you should know how many noobs bought last weeks, people who didn't even know what a wallet was. Hilarious.

[chrsjrcj]

Break out in progress.

Bull trap.

Bull crap.

[Spaceman_Spiff]

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

The crisis was imaginary. What happened in China was actually good news.

Can you elaborate why ?

http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

this explains btc-e's recent surges

No, because they would buy bitcoin at BTC China with their funds, and then sell at BTC-e, giving the exact opposite result.

[JimboToronto]

Break out in progress.

Bull trap.

LOLOLOLOLOLOL

[Habeler876]

FYI, bear pennant.

If you draw an arrow on the chart it will make the price go in that direction lol.

ouch

these wanna be manipulators bleed money now. gogogogo

[freethink2013]

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

The crisis was imaginary. What happened in China was actually good news.

Can you elaborate why ?

http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

this explains btc-e's recent surges

No, because they would buy bitcoin at BTC China with their funds, and then sell at BTC-e, giving the exact opposite result.

If they are just trying to accumulate coin, knowing that withdrawing fiat is pointless then btc-e makes sense. It really depends on the pov of the person. Like if you are a person that wants to do everything off the books and are in china and have btc you are going to withdraw your btc to a wallet then send some to btc-e to play with.

[elg]

in China, is it sunday- or monday morning now?

[octaft]

in China, is it sunday- or monday morning now?

Monday 7AMish I believe.

[Dragonkiller]

in China, is it sunday- or monday morning now?

http://lmgtfy.com/?q=time+in+china

[superpatosainz]

FYI, bear pennant.
https://i.imgur.com/eHGPTXtl.png

If you draw an arrow on the chart it will make the price go in that direction lol.

ouch

these wanna be manipulators bleed money now. gogogogo

that arrow is pointing to the right.