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

[gandhibt]

and soon the rally can continue, bids are piling up, this is power, ones again bitcoin shows what it's made of (can you tell that i'm all btc? )

[Peter R]

Exactly what is going to happen to make 10's of millions of dollars suddenly run away from bitcoin?   Which is what would have to happen to see the price slide.   Other than wishful thinking, I can't wrap my mind around what you bears think is going to destroy bitcoin.   Can any of you read an order book?   After the April crash, the order book collapsed.   It is building like crazy right now.

well for starters.. governments could start shutting down or regulating exchanges. that or government might announce that it will pursue tax evaders who hold bitcoin. i'm not bearish, i'm "idontknowish."

And we might have another Carrington event, etc.   Of course there will eventually be a push to find tax evaders using bitcoin, but the best way to get caught would be to sell on an exchange . . .   Regulating exchanges? Having to abide by KYC?   That would certainly kill bitcoin.    

I was talking about the next few weeks anyway.   Sure there could be bad news, but in my opinion the odds are greater that we have good news than bad.

You're delusional if you think there are no bad news that could bring btc down. 90% of it's value is speculation. Things like exchanges going down/getting hacked (looking at btc-e), protocol issues (big hard fork), any news of some retards getting busted for something illegal and getting paid with BTC (think child pornography rings, some dictators funneling funds to repress ppl) negative press, one of those BTC100k wallets getting hacked and dumped with one market sell (sheep), some senator in US decides to make a career by fear mongering against BTC etc...etc...etc... Hell look at the catalyst of this crash apparently it was the not so bad news from Chinese. I'm long on BTC but don't fool yourself thinking there aren't any risks  

That's what you took from what I said?   BTC is extremely risky.   I am just saying that the odds are not in favour of that happening at such a time as to send us into a prolonged downtrend.   The biggest risk I see right now, is the speed of the recovery.  I think you are overestimating the effect of some of the news possibilities you bring up too.   The market was just looking for an excuse to correct when the China misunderstanding popped up.  

Edit: windjc beat me to my points . . .

I am a big bitcoin bull, but DaRude has a point.  There are several battles ahead on the road to becoming a significant international currency.  Bad news could come at any time and knock another 50% off the market cap.  I think we will prevail, but more trying times lay ahead...

[macsga]

and soon the rally can continue, bids are piling up, this is power, ones again bitcoin shows what it's made of (can you tell that i'm all btc? )

Who isn't

[spooderman]

bids nearing ATH, weekend over, china news not actually bad, RIP bears, chew chew. (I maed detaled teknikal anoloses)

edit: I'm actually worried about there being so few FUD spreaders at this moment. Let me have a go:

This is a bull trap. Last chance to get out at 800+ prices. After this we hit 300 when Monday doesn't go as well as people thought. *posts picture of bubble graph*

Where's walsoraj?

[Sitarow]

bids nearing ATH, weekend over, china news not actually bad, RIP bears, chew chew. (I maed detaled teknikal anoloses)

"THEY" say next ATH will be thusday at $1500 ☆

[mmitech]

told you so CHOO CHOO

[tHash]

I am a big bitcoin bull, but DaRude has a point.  There are several battles ahead on the road to becoming a significant international currency.  Bad news could come at any time and knock another 50% off the market cap.  I think we will prevail, but more trying times lay ahead...

How does it go? "The road to success is paved with failure"   I never implied there will not be bumps down the road.   I was simply calling into question the "wisdom" by some who were sure we would be in for a long slide right now.   Odds are against it.   Odds always have room for things to go the other way, I just bet on the greater odds.

[gandhibt]

Is there same kind of M forming like we had at stamp before we broke 800? At gox before 825.

[DaRude]

Exactly what is going to happen to make 10's of millions of dollars suddenly run away from bitcoin?   Which is what would have to happen to see the price slide.   Other than wishful thinking, I can't wrap my mind around what you bears think is going to destroy bitcoin.   Can any of you read an order book?   After the April crash, the order book collapsed.   It is building like crazy right now.

well for starters.. governments could start shutting down or regulating exchanges. that or government might announce that it will pursue tax evaders who hold bitcoin. i'm not bearish, i'm "idontknowish."

And we might have another Carrington event, etc.   Of course there will eventually be a push to find tax evaders using bitcoin, but the best way to get caught would be to sell on an exchange . . .   Regulating exchanges? Having to abide by KYC?   That would certainly kill bitcoin.    

I was talking about the next few weeks anyway.   Sure there could be bad news, but in my opinion the odds are greater that we have good news than bad.

You're delusional if you think there are no bad news that could bring btc down. 90% of it's value is speculation. Things like exchanges going down/getting hacked (looking at btc-e), protocol issues (big hard fork), any news of some retards getting busted for something illegal and getting paid with BTC (think child pornography rings, some dictators funneling funds to repress ppl) negative press, one of those BTC100k wallets getting hacked and dumped with one market sell (sheep), some senator in US decides to make a career by fear mongering against BTC etc...etc...etc... Hell look at the catalyst of this crash apparently it was the not so bad news from Chinese. I'm long on BTC but don't fool yourself thinking there aren't any risks  

The market crashed this time because it was weak and looking for any excuse. There has been worse news that the market shrugged off.

Catalyst - an agent that provokes or speeds significant change or action.
Yep agree, in fact the market didn't start crashing tell well into what like the 2nd day of the news

[justusranvier]

For those of you who don't read the rest of the forum: http://texasbitcoinconference.com/

[adsdas]

Damn it did actually break through on that tiny pennant  

[solex]

So why are the exchanges suddenly in step with each other?

I think the rapid movement down and then up has erased the markets ability to do finer pricing which takes account of fiat withdrawal delays, shutdown risk in each domicile, capital controls etc.

[tHash]

For those of you who don't read the rest of the forum: http://texasbitcoinconference.com/

Thanks!   I barely have time to keep up with this thread 

[macsga]

PEOPLE!
What are you talking about? We're missing the subject here... which is:

[ChartBuddy]

[Peter R]

I am a big bitcoin bull, but DaRude has a point.  There are several battles ahead on the road to becoming a significant international currency.  Bad news could come at any time and knock another 50% off the market cap.  I think we will prevail, but more trying times lay ahead...

How does it go? "The road to success is paved with failure"   I never implied there will not be bumps down the road.   I was simply calling into question the "wisdom" by some who were sure we would be in for a long slide right now.   Odds are against it.   Odds always have room for things to go the other way, I just bet on the greater odds.

Yes, I agree tHash.  I apologize if I took your comments out of context.  Right now, if I were to bet, I'd say 60% we're going up and beyond the ATH in the short term. 

[gandhibt]

damn it was a good call to buy back in at loss, once again

[seanneko]

Well that wall at $900 didn't last long. Someone bought 1270 coins in one order.

[CryptStorm]

Wow, is this train about to rally again!?!?  Bitcoin is SO crazy!!! OMFG

[KFR]

Gosh.