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

[fr33d0miz3r]

Even on logscale bears don't have much time left:

but they still have.

[molecular]

Even on logscale bears don't have much time left:

but they still have.

yes, they have time. But do they have coins?

[fr33d0miz3r]

Even on logscale bears don't have much time left:

but they still have.

yes, they have time. But do they have coins?

Yes 

https://blockchain.info/charts/bitcoin-days-destroyed-min-year?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[Walsoraj]

Bears have plenty of time to buy back in. I anticipate more bad news from China. Specifically, regarding foolish attempts to bypass the outlaw of deposits with things like vouchers (lookin' at u btcchina).

[fr33d0miz3r]

Bears have plenty of time to buy back in. I anticipate more bad news from China.

+1, totally agreed

btw, merry christmas for those who celebrate it today.
We'll celebrate it in 2 weeks.

[solarflare]

Bears have plenty of time to buy back in. I anticipate more bad news from China. Specifically, regarding foolish attempts to bypass the no-deposit law with things like vouchers (lookin' at u btcchina).

Exactly.
We shouldn't forget that Chinese exchanges are in a difficult situation. They could shutdown anytime.

[ChartBuddy]

[Walsoraj]

Bears have plenty of time to buy back in. I anticipate more bad news from China. Specifically, regarding foolish attempts to bypass the no-deposit law with things like vouchers (lookin' at u btcchina).

Exactly.
We shouldn't forget that Chinese exchanges are in a difficult situation. They could shutdown anytime.

A complete shutdown is bullish because that would stop panic selling. The price would become dependent on other exchanges.

A continued policy of no deposits while allowing withdrawals will inevitably result in more panic selling. However, if the gov also restrict withdrawals, then traders might be forced to buy bitcoin just to cash out elsewhere, similar to what happen with Gox last summer (and is arguably still happening). This would cause the price to climb dramatically.

*edit*

And what I predict happening is China cracks down on the attempts to bypass deposits and eventually restricts withdrawals. The best time to buy is after the crackdown. The price will go up once buying btc is the only way to get anything out of the exchange. Be prepared to sell again if there is a complete shutdown of everything, including btc deposits/withdrawals.

[JimboToronto]

Use logscale, idiot

That's the Christmas sprite we like to see, ho,ho,ho

Santa leave him a lump of coal? 

Merry Xmas.

[solarflare]

A complete shutdown is bullish because that would stop panic selling. The price would become dependent on other exchanges.

A continued policy of no deposits while allowing withdrawals will inevitably result in more panic selling. However, if the gov also restrict withdrawals, then traders might be forced to buy bitcoin just to cash out elsewhere, similar to what happen with Gox last summer (and is arguably still happening).

Right, I tend to see this potential shutdown as a continuation of the current trend of gradually increasing restrictions.
They will most likely block deposits and put a deadline on withdrawals before stopping all trading activity.
At least that's how I would handle it as an exchange owner (it's a good way to buy a ton of cheap coins).

[N12]

http://www.reddit.com/r/Bitcoin/comments/1to47m/is_anyone_else_getting_sick_and_tired_of_the_doge/

I support Dogecoin and its ability to enrage the Bitcoin cultists.

[thefunkybits]

Well shit.. LTC took a blast this morning.

This lines up perfectly with the downward trend line! This "blast off" happened with BTC already and it touched the top of its trendline, but it has yet to happen with LTC until now. The one day EMA crossover has confirmed a downtrend in both BTC and LTC...but they were both oversold until now.

I have just sold off some LTC

Merry Christmas everyone!

So you are saying bitcoin is overbought, i say its a trend reversal



Merry Christmas everyone!

There needs to be some significant volume for a trend reversal, crossing the trendline doesnt mean much without volume

[fr33d0miz3r]

[OldGeek]

First:  Seasons Greetings to all.

Next:  Walsoraj, you surprised me.  I believe that is the most rational post I've read from you.  If the events you mention come to pass, do you have a guess as to the time frame?

And:  Are traders still actively watching btcChina for movement or is it that so many bots have been programmed to react to changes in that market?  A better way of asking that question is:  Do you think that the Cny market is the driver for the western exchanges?

[molecular]

I got a book called "Meditation for sceptics" for christmas.

I'm going to read that now, maybe I'll get back in touch with this market somehow.

[OldGeek]

I got a book called "Meditation for sceptics" for christmas.

I'm going to read that now, maybe I'll get back in touch with this market somehow.

For many reasons I have believed that you were one of the few who actually were in touch with the markets.

Meditation is good.  Especially at this time of the traditional year.  Taking the time to mentally review the results of prior activities can lead to better results going forward.  Heavy emphasis on the word 'can'. 

Some people are wired to blame failures on external forces and cannot acknowledge that individual choice is the ultimate arbiter.

Hope you enjoy the book.

[Sitarow]

Facts about money 1896
http://chroniclingamerica.loc.gov/lccn/sn88085523/1896-10-22/ed-1/seq-1/


PDF
http://chroniclingamerica.loc.gov/lccn/sn88085523/1896-10-22/ed-1/seq-1.pdf

[nanobrain]

Came to say Merry Christmas bitchez (except Walsoraj - I hope Santa shits in your stocking).

Good to see all that peace and goodwill didn't last and that petty feuding has broken out already...well done.

[TERA]

Enough with the voodoo and doing lines off a chart. It would be much more effective to do some digging and find out fundamentals like:

1. Is huobi legit and not a fake pump with mostly fake volume.
2. How many actual btc are entering huobi and getting bought up by new investors.
3. How much new fiat is entering chinese exchanges.
4. If/when the Chinese government will crack down on the latest evasion of their rules.

By the way litecoin is coincidentally being pumped starting last night, due to sudden volume on okcoin, a chinese exchange which has been found to have fake volume...

[N12]

It's a good thing we don't have any financial regulation on exchanges or even just private audits. This way, we can make believe and conjure up whatever we want.