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

[TERA]

Yes the last weak arm up before final capitulation is always fueled by a bunch of good news. Before, it was the May btc conference etc.

This time it's taking a bunch of good news AND the sudden artificial influence of China again, so we can see where this is going...

what good news was this?

Overstock, various merchant adoptions and government meetings, bitpay buyout

[tHash]

If/when we have a final capitulation, the price will stay higher than the low we have already had . . .   It's psychology, support has been identified, and everyone will be racing to beat everyone else and buy before we dip to the support.   If it coincides with a series of bad news, then maybe we would dip below, not likely unless a very specific set of circumstances arises.

[dgarcia]

So, what's the truth? I think both of them are not very meaningful.

[SheHadMANHands]

It feels like it's time for the weekend crash...   who knows though.  

In other news:
http://finance.fortune.cnn.com/2013/12/27/michele-burns-circle/

[freethink2013]

Yes the last weak arm up before final capitulation is always fueled by a bunch of good news. Before, it was the May btc conference etc.

This time it's taking a bunch of good news AND the sudden artificial influence of China again, so we can see where this is going...

what good news was this?

Overstock, various merchant adoptions and government meetings, bitpay buyout

no honestly, what good news? Overstock don't accept bitcoin. 'Various'? What govt meetings? What happened with bitpay?

[kurious]

Wall street (IF there is wall street) will probably wait for final capitulation,  just like BIT/SecondMarket waited for $66.

That depends on whether they want the currency, or the system.

Some will see it as like an early internet, or the invention of email, some will see it as merely a little currency-exchange app.

But a P2P exchange of value is the real utility value - and the only reason they are not already in, is they don't want the coins, the want shares in the network, but the network (like the internet) is not for sale!

So, they don't like it. The Asian guy who bought into bitpay (selling shovels to gold miners) is doing the right thing, in wall street terms.

'Let someone else work out value and appliactions, I will just sell the transaction tools'

Smart investor.   If it will work, the transaction interface with fiat is the territory you can buy and control.   You cannot buy the currency or the network.

[ChartBuddy]

[TERA]

If/when we have a final capitulation, the price will stay higher than the low we have already had . . .   It's psychology, support has been identified, and everyone will be racing to beat everyone else and buy before we dip to the support.   If it coincides with a series of bad news, then maybe we would dip below, not likely unless a very specific set of circumstances arises.

While I do think that the low will probably be higher than our previous low, I disagree that "support has been identified".

1. The last two high volume days ended in 570 and 455, respectively. On bitstamp it was actually 560 and 380, a huge difference. There was no higher low, indicating a support. Instead, a possible downtrend is indicated. If you take april, on the other hand, there were three high volume crashes ending in 55, 50, and 78, confirming that a hard support had been found at 50.  

2. The last bounce was influence by China. All exchanges were following btcchina when it suddenly started buying out thousands of btc. Now if the chinese exchanges get taken out, we don't know what'll happen.

[adamstgBit]

[alexeft]

In other news:
http://finance.fortune.cnn.com/2013/12/27/michele-burns-circle/

Oh well, bitcoin is of no value, sell sell sell!!!  

[alexeft]

[kurious]

If/when we have a final capitulation, the price will stay higher than the low we have already had . . .   It's psychology, support has been identified, and everyone will be racing to beat everyone else and buy before we dip to the support.   If it coincides with a series of bad news, then maybe we would dip below, not likely unless a very specific set of circumstances arises.

While I do think that the low will probably be higher than our previous low, I disagree that "support has been identified".

1. The last two high volume days ended in 570 and 455, respectively. There was no higher low, indicating a support. Instead, a possible downtrend is indicated. If you take april, on the other hand, there were three high volume crashes ending in 55, 50, and 78, confirming that a hard support had been found at 50.  

2. The last bounce was influence by China. All exchanges were following btcchina when it suddenly started buying out thousands of btc. Now if the chinese exchanges get taken out, we don't know what'll happen.

+1

I still think this is all irrelevant, though - Bitcoin will not fail because of China, and if it will not - then it is not going away, so the financial world will need to incorporate it.

Where is Western Union's business model if Bitcoin is better?  Value transfer is BIG money and it is way overdue for a change.

It may not be Bitcoin, but it will be something and it must be a network which is currency neutral.

I think BTC is not perfect, but it is there.   Ergot, it will be used.

We are Microsoft, there will be an Apple and a Google to follow, but right now, warts and all it is Bitcoin that is the only game in town.

[TERA]

[kurious]

高貴な武士になることはある!

[dgarcia]

How about this? ;-)

[heslo]

Christ that's scary!

[alexeft]

How about this? ;-)

[freethink2013]

pffft....i've done enough complaining recently

[damiano]

Eh we will be over 800 again in 3 hrs

[SheHadMANHands]

How about this? ;-)

I actually found this kind of hot (knowing that it's a costume).  Does that make me weird...