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

[windjc]

There is now over 10 million in margin trading on Bitfinex, with the average loan rate of over 200%!  How long can these traders afford to pay that premium on their money?  It looks absolutely insane right now.

The rate reflects volatility.  Notice that the BFX sentiment index is bearish.  I suspect that the weekend dump pattern has played out, and those bets will not pay off much.  The 4000 coin dump earlier didn't seem to harm the price levels much.  Absorbing that much coin so well... draw your own conclusions.  We're still assimilating the resulting vacuum, however.  I'm anticipating basing action consolidating to the 600-620 range, ending in a slow rise to 680-700, but no massive shifts without a polarizing catalyst.  Bobby Lee sorts his issues with the princelings, and we glide up maybe, but no serious choo-choo coming out of China unless those ex-hodlers start to feel some remorse.

I agree about the wall. That's why I went back to 100% BTC. It was impressive and it didnt sell off after profit taking from the snap back. So there seems to be money on the sidelines wanting to come back in.

Also, the snap back from the recent lows was on VERY high volume and had a surprising amount of legs. We may find out that China wasn't that important to the market afterall (which has always been my speculative opinion). Again, all these things are potentially bulllish, as are the fact that wealth people are buying this dip off exchanges. Very bullish.

While it feels like a house of cards right now, without bad news in the next few weeks, I am not sure we can go too much further down. Maybe 500. Maybe 450, but I really doubt it. Not unless something caves.

[Walsoraj]

I've been saying house of cards for months.... You guys never listen to me. 

[adamstgBit]

I've been saying house of cards for months.... You guys never listen to me. 

its not a house of card tho....

Doge is a house of cards

[adamstgBit]

seriously no one is going to sell coins on virtex tonight wtf....

[MAbtc]

Walsoraj, let's get this started already. 

[Walsoraj]

I've been saying house of cards for months.... You guys never listen to me. 

its not a house of card tho....

Doge is a house of cards

Disagree. Doge has the most intrinsic value of all altcoins. It's the true successor to bitcoin.

 

[jojo69]

hard to listen to you Waj, when 75% have you on ignore

[SheHadMANHands]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

[Dabs]

Hey Loaded, if you are ever in my country, do consider me as escrow for your transactions. Can't wait to do one of those with suitcases or something.

[adamstgBit]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

bitcoin has trust

and also a shit tone more $_$

can't do shit all with a crypto that has no liquidity

[ChartBuddy]

[Walsoraj]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

But it wouldn't be called Dogecoin, which is precisely why Dogecoin is such a great investment. 

[SheHadMANHands]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

But it wouldn't be called Dogecoin, which is precisely why Dogecoin is such a great investment. 

It does have that intrinsic name value that no one can counterfeit.  Very good observation..   

[aminorex]

Indeed naming a coin for the Doge of Venice, where the European sovereign fixed income market began on the Rialto bridge, is clever, but hardly genius.

[nanobrain]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

But it wouldn't be called Dogecoin, which is precisely why Dogecoin is such a great investment.  

It does have that intrinsic name value that no one can counterfeit.  Very good observation..  

Howdy y'all

I still cant work out if its mean tot be Doggy Coin or Dodgy Coin....either way its pretty shit...

[nanobrain]

Indeed naming a coin for the Doge of Venice, where the European sovereign fixed income market began on the Rialto bridge, is clever, but hardly genius.

Ohhh...get you

[jojo69]

rofl

[Spaceman_Spiff]

If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).

But it wouldn't be called Dogecoin, which is precisely why Dogecoin is such a great investment.  

It does have that intrinsic name value that no one can counterfeit.  Very good observation..  

Howdy y'all

I still cant work out if its mean tot be Doggy Coin or Dodgy Coin....either way its pretty shit...

Its Daugecoin.  Either way it's so wow

[SheHadMANHands]

Satoshi is Thomas Edison: http://www.reddit.com/r/Bitcoin/comments/1tdizc/this_guy_claims_thomas_edison_created_a_bitcoin/

Hot off the press, and back from the dead.

[adamstgBit]

Satoshi is Thomas Edison: http://www.reddit.com/r/Bitcoin/comments/1tdizc/this_guy_claims_thomas_edison_created_a_bitcoin/

Hot off the press, and back from the dead.

*hits market buy
*doesn't give a fuck