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

[molecular]

Five weeks ago I went to southern Africa and have had no internet since then.  I left just after the US congress hearings and have just now got internet access for the first time since then.  Looking at the past price charts    wtf?

At the risk of sounding lazy, I really don't want to have to go through hundreds of pages of this forum, so could someone give me a very brief summary of what happened?

Did the interest generated by the US hearings drive the price to $1200, or was there anything else in addition.  I've picked up the btce issue but is that the main issue which caused the price to then crash from $1200 to current levels?

Also, are cash withdrawals still impossible out of Gox?  What about bitcoin withdrawals?

Cheers guys, really appreciated.

china got out

EDIT: oh and: goat bought a yellow lamborghini.

[Rannasha]

At the risk of sounding lazy, I really don't want to have to go through hundreds of pages of this forum, so could someone give me a very brief summary of what happened?

Price went up for a decent part thanks to the Chinese pushing it. Then China banned fiat deposits to exchanges, after first giving more ambiguous statements and the price went down.

Did the interest generated by the US hearings drive the price to $1200, or was there anything else in addition.  I've picked up the btce issue but is that the main issue which caused the price to then crash from $1200 to current levels?

US hearings helped, but there were several factors that contributed to the rise. The drop was primarily caused by a combination of the Chinese gov't restricting Bitcoin access considerably and the normal correction after a sharp rise. No idea what the "btce issue" is, but it didn't play a role.

Also, are cash withdrawals still impossible out of Gox?  What about bitcoin withdrawals?

Cash no, Bitcoin yes. Gox screwed up again during one of the crashes, going on a loop where it would replay the last few minutes of trades over and over. Even more now wonder why people still trade there.

[strawbs]

Thanks for the summaries guys.  Now to decide whether to hold or sell.....

[F-bernanke]

Thanks for the summaries guys.  Now to decide whether to hold or sell.....

HODL...

No Day Tarding..


I think you missed that aswel..

[fr33d0miz3r]

[NUFCrichard]

As a global currency surely Xmas shouldn't be that important for bitcoin...

[mmitech]

1900 Bitcoin was dumped to move the price down only $30, well that is sad for the bears, and BTW I thought it is worth to mention that a dump @ gox = manipulation aka someone trying to move the price down to buy cheaper because who the fuck sells @ gox for fiat ? someone willing to wait 3 months for the cash?

so here bears you need another 15K bitcoin to move the price down to 550   

[gandhibt]

important trend line has not broken on stamp and who gives a fuck about gox?

and this is from gox:


ill suggest to sell 25% or 50% of your hodlings, depending on your risk appetite

[fr33d0miz3r]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

[mmitech]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

dump them what are you waiting for ?

[fr33d0miz3r]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

dump them what are you waiting for ?

for the order book to get filled.

btw, trendline is not broken on gox

[mmitech]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

dump them what are you waiting for ?

for the order book to get filled.

btw, trendline is not broken on gox

and BTW people waiting for $450 well you just need another 35K bitcoin so show me what you've got I would love to see you left behind

[gandhibt]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

dump them what are you waiting for ?

for the order book to get filled.

btw, trendline is not broken on gox

logarithmic scale is not widely used, its not so important, but neither is gox

[ChartBuddy]

[gandhibt]

so here bears you need another 15K bitcoin to move the price down to 550   

we have them.

dump them what are you waiting for ?

for the order book to get filled.

btw, trendline is not broken on gox

and BTW people waiting for $450 well you just need another 35K bitcoin so show me what you've got I would love to see you left behind

order book is bs, easiest way to manipulate is to put orders on order book

[iarsenaux]

dump please! show us your powers to manipulate!

[fr33d0miz3r]

logarithmic scale is not widely used, its not so important, but neither is gox

I dont care about wide or not wide usage of logscale. And the market doesn't care about your usage or not usage of a logscale.
It just works. You should use a logscale if the price fluctuates like this. That's all.

[fr33d0miz3r]

order book is bs, easiest way to manipulate is to put orders on order book

yeah, it's very easy, you just need to find $50M somewhere 

[fr33d0miz3r]

dump please! show us your powers to manipulate!

sure!

[gandhibt]

logarithmic scale is not widely used, its not so important, but neither is gox

I dont care about wide or not wide usage of logscale. And the market don't care about your usage or not usage of a logscale.
It just works. You should use a logscale if the price fluctuates like this. That's all.

for TA to work its important that many will look at charts and based their trades to those charts, TA is self fulfilling shit so its important to keep it KISS