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

[TERA]

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

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[Nemo1024]

What's up with the trades in China?!
http://bitcointicker.co/combined/
Oh, and good-night everyone. Today was slightly fruitful, bringing in 0.8 BTC, traded only by placing two sets of limit orders in the morning and the evening.
I am done panic-doing whatever.

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

Everyone needs to start following Bitstamp!

[gandhibt]

you guys are not giving enough credit to stamp, its the healthiest exchange with working in/out fiat and it is not losing in volume to gox, as long as 650 holds we're not entering bear market

[wachtwoord]

its silly that people are comparing this to 2011

Indeed but then again they probably weren't here.

[NewLiberty]

you guys are not giving enough credit to stamp, its the healthiest exchange with working in/out fiat and it is not losing in volume to gox, as long as 650 holds we're not entering bear market

This is your idea of a bull market?
Maybe.... consolidation.

[600watt]

If it's going to be 2011, you are literally going to forget all about Bitcoin in about 4 months, leaving any remaining BTC in the dust and forgetting to check regularly on the final capitulation dump which will be the excellent moment to get back in big time.

As long as you still check this forum daily, it's nothing like 2011.

Frankly, if someone reminded me to get back in at @1.98 in 2011, I don't know whether I would have put in extra funds at the time.

For the reason stated above, I very much doubt that we will have a 2011 fall back. I rather see increased competition with altcoins and other crypto initiatives (Ripple, JPM's ideas, etc).

i agree. in 2011 it was so hard to get any info about btc. after bubble and when gox got hacked i thought it was a scam and the 100 coins i bought i just forgot about it, didn´t know this forum back then. the worst that can happen is another april13 - half a year of searching bottom. (actually that summer was just an epic bear trap   )

it will get more ugly than right now. but not for long. maybe we "need" another bitcoin´s dead period...

[NewLiberty]

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

100K tends to mark local bottoms.

[gandhibt]

you guys are not giving enough credit to stamp, its the healthiest exchange with working in/out fiat and it is not losing in volume to gox, as long as 650 holds we're not entering bear market

This is your idea of a bull market?
Maybe.... consolidation.

no, but its too soon to say this is bear market also

[TERA]

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

100K tends to mark local bottoms.

There was no 100k volume done on any exchange. Instead the volume just keeps getting weaker on every down day.

[ChrisML]

you guys are not giving enough credit to stamp, its the healthiest exchange with working in/out fiat and it is not losing in volume to gox, as long as 650 holds we're not entering bear market

Its targeting something happening at $666 on Christmas day and that's far to media friendly, if fiat doesn't make any fsckups for the next 8 days then it would probably be better if it broke that bottom line before then.

Cute that it says $666,- on Christmas. Such a bs 

They probably think a majority of the BTC traders are fools. 666 on xmas day... How ironic :')

[EasyQuest]

I'm feeling bearish again.  

why, its clearly coin for a 3-5 day bounce!

I like your bullish attitude.

[600watt]

wow someone just bought 500 coins on stamp

[jojo69]

10314424798490535546171949056

6^6^6

[Dragonkiller]

wow someone just bought 500 coins on stamp

yeah and gox going down at exact same time, prices were nearly identical for a second

[seriouscoin]

you guys are not giving enough credit to stamp, its the healthiest exchange with working in/out fiat and it is not losing in volume to gox, as long as 650 holds we're not entering bear market

Its targeting something happening at $666 on Christmas day and that's far to media friendly, if fiat doesn't make any fsckups for the next 8 days then it would probably be better if it broke that bottom line before then.

Cute that it says $666,- on Christmas. Such a bs  

They probably think a majority of the BTC traders are fools. 666 on xmas day... How ironic :')

$666 has been an unusually strong sticking point, gox clung to it on the way up, btce's hanging to it now and stamps hug to it for 3 major movements. A little too ironic for coincidence even if its no more than a favourite number for some traders.

EDIT:

10314424798490535546171949056

6^6^6

That's a nice number, it can stick to that one for a while no problem

Could it be large bitcoins holders whales  are Jews?  

[owlbear]

The reason why people like the number 666 is because it reminds them of their favorite heavy metal band.

[gandhibt]

was that that arb bot malfunctioning?

[ChartBuddy]

[crazy_rabbit]

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

Maybe there won't be any real capitulation. Yes we are unhappy and scared about China, but is bitcoin dead? Has development stopped? Are financial circles calling bitcoin the investment of 2014?

It sucks, but this is more like uncertainty because we don't know what China is up to, not because bitcoin is dead. The Chinese are probably rapidly trying to decide what to do with their bitcoin, but do they believe it's dead? It doesn't seem like it. They got into it because it was a world wide thing and the early adopters there see it's long term potential.  We always knew they would need to be galvanised by fire with some mega crash. We had it: twice in 2011 and last April. We always came back stronger, faster and faster. In 2011 we sold till the bottom. In April we sold to ~$50 with reports of Bitcoins death from left and right. Now we have fallen by what- 50%? 2011 was from $32 to pennies. April was ~260 to ~50. So far it's been ~$1200 to ~550? We are crashing less and less severe. And bitcoin is only getting more press, more coverage. In some ways it took China making a stance on bitcoin for other governments to make a stance. Sure it's not exactly what we wanted, but we've gotten something priceless instead: the worlds attention.

[600watt]

I would really like to see a day with like 500,000 volume on mtgox to give me confidence that a bottom is in. I've been watching all the exchanges and all of the action has been weaksauce - no evidence of any kind real capitulation , plus they're still following BT China which is a sinking ship.

Maybe there won't be any real capitulation. Yes we are unhappy and scared about China, but is bitcoin dead? Has development stopped? Are financial circles calling bitcoin the investment of 2014?

It sucks, but this is more like uncertainty because we don't know what China is up to, not because bitcoin is dead. The Chinese are probably rapidly trying to decide what to do with their bitcoin, but do they believe it's dead? It doesn't seem like it. They got into it because it was a world wide thing and the early adopters there see it's long term potential.  We always knew they would need to be galvanised by fire with some mega crash. We had it: twice in 2011 and last April. We always came back stronger, faster and faster. In 2011 we sold till the bottom. In April we sold to ~$50 with reports of Bitcoins death from left and right. Now we have fallen by what- 50%? 2011 was from $32 to pennies. April was ~260 to ~50. So far it's been ~$1200 to ~550? We are crashing less and less severe. And bitcoin is only getting more press, more coverage. In some ways it took China making a stance on bitcoin for other governments to make a stance. Sure it's not exactly what we wanted, but we've gotten something priceless instead: the worlds attention.

agree 100 %