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

[knarzo]

Guys the joke on us, I've been watching Mtgox and bitstamp and simply some smart people are slowly buying small batches of 20-50 BTC each hour and it has been happening for the last couple of day.

You really did fall for the GOX bot? 
Some people still believe that bitcoin price is based purely ond supply and demand?

Bots abound but just a thought: did anyone take into account the new ATMS? Depending on the set up they can be linked to exchanges. Apparently people have regularly been buying the highest possible limit of BTC via these babies.

Branson doesn't give a damn about bots.

Bought only 10k coins @ 2$ (instead of a few 100k).
Never thought this ponzi will get above 100$ 
Still a decent profit. Just need to find the private key.

And by the way. Did he accept the bet?

So that means.. . you've sold! Is that right? You have balls, I'll give you that! 

Hopefully not all.
I'm willing to bet 1 BTC that we correct again under 575$ before we reach 2000$.

[F-bernanke]

why is china panic buying?

[Azeh]

why is china panic buying?

Huge buy went through on Huobi.  322 BTC, Whale making a splash?

[T.Stuart]

why is china panic buying?

Bitcoin is going to drive the world into a freenzy in 2014, didn't you know?  

[Ducky1]

why is china panic buying?

Bitcoin is going to drive the world into a freenzy in 2014, didn't you know?  

Some people just don't get it..  

[podyx]

[fluidjax]

Imagine someone with deep pockets, decides that the lowest price is now $900 (Gox), they soak up all the sells into that price and refuse to let it sink much below, obviously they want cheaper coins and they aren'y stupid so they reduce risk of a massive dump by using bots and no big walls.

This leaves a whole load of people who expected a crash over the last few days wanting their coins back, I think everyone who sold recently was trading and not cashing out, but they are going to take a hair cut when buying back in.
The support at $885-$900 was persistent, calculated and looks well funded, They must have bought 1000's of coins over the past couple of weeks.
So now the manipulator slowly increases the price until the rally takes off, and the bears capitulate.

Perhaps the TA people are being played, new players are moving in to bitcoin with large funds.

[T.Stuart]

Imagine someone with deep pockets, decides that the lowest price is now $900 (Gox), they soak up all the sells into that price and refuse to let it sink much below, obviously they want cheaper coins and they aren'y stupid so they reduce risk of a massive dump by using bots and no big walls.

This leaves a whole load of people who expected a crash over the last few days wanting their coins back, I think everyone who sold recently was trading and not cashing out, but they are going to take a hair cut when buying back in.
The support at $885-$900 was persistent, calculated and looks well funded, They must have bought 1000's of coins over the past couple of weeks.
So now the manipulator slowly increases the price until the rally takes off, and the bears capitulate.

Perhaps the TA people are being played, new players are moving in to bitcoin with large funds.

I've been "talking" myself hoarse saying it but I'll say it again one more time. The shift in market sentiment is HUGE. I cannot prove it with an equation or geometry but it's common sense. Until a few weeks ago, literally only a few weeks, so many were seriously concerned about Bitcoin being banned outright. The effect of the lifting of this worry cannot be overestimated. Along with the technology itself, it is by far and away the biggest fundamental.

[Azeh]

Imagine someone with deep pockets, decides that the lowest price is now $900 (Gox), they soak up all the sells into that price and refuse to let it sink much below, obviously they want cheaper coins and they aren'y stupid so they reduce risk of a massive dump by using bots and no big walls.

This leaves a whole load of people who expected a crash over the last few days wanting their coins back, I think everyone who sold recently was trading and not cashing out, but they are going to take a hair cut when buying back in.
The support at $885-$900 was persistent, calculated and looks well funded, They must have bought 1000's of coins over the past couple of weeks.
So now the manipulator slowly increases the price until the rally takes off, and the bears capitulate.

Perhaps the TA people are being played, new players are moving in to bitcoin with large funds.

Who knows what's going on.  I really thought the downtrend would continue due to the overhanging China issue.  Maybe we'll see a huge rally into the 31st and it will have been FUD news all along.

 
What is the direct source for the potential China 31st news anyway?  Was it a direct translation from the PBOC Press Release?

[JorgeStolfi]

For those interested, you can vote to have doge banned
https://www.change.org/petitions/united-states-congress-make-the-doge-meme-illegal-in-all-forms

I hope everyone noticed the irony in that "petition".

Can someone explain me how is it possible that such a ridiculous concept has a bigger number of network transactions that bitcoin itself?
http://bitinfocharts.com/comparison/transactions-btc-doge.html

Perhaps because Dogecoin is what Bitcoin should have been?

There are a number of economic reasons that make me skeptical about Bitcoin's chances of success.  But there is one reason that makes me wary of it: the fact that its is being "marketed" more as an investment than a payment system.

Here is what a true Bitcoin believer, pure of heart, should be saying:

  * Our goal is cheap, easy, unrestricted international payments;
  * We will succeed if everybody uses uses crypto, we will fail if no one uses it;
  * Other cryptocoins are welcome and we hope they prosper.
  * Our hope is that SOME crypto will succeed; it doesn't have to be Bitcoin.
  * We do not know how much a Bitcoin will be worth, and it does not matter.
  * However, the value of a cryptocoin should be as stable as the dollar's value is now.
  * The sooner the price stabilizes, the better.
  * Hoarding or speculating with cryptocoins is evil as it defeats those goals.
  * Large cryptocoin-based financial institutions are just as evil as dollar-based ones.
  * Our priority is to convince merchants to accept crypto as payment method.
  * People should change dollars for crypto only if and when it is is clearly worth it.

Instead, here is what Bitcoin enthusiasts seem to be saying, here and in other forums:

  * Our goal is to get rich.
  * We will succeed if Bitcoin's value rises to the Moon, fail if it goes down to cents.
  * Other cryptocoins are unwelcome competition and we must speak out against them.
  * Our hope is that BITCOIN succeeds, we will be mad if some other crypto crushes it.
  * One Bitcoin must be, and surely will be, worth at least 1000 USD.
  * The price should keep rising in the long run so that Bitcoin hoarders can have a steady income.
  * Large price oscillations are good now because one can make money or grab more Bitcoins.
  * Hoarding and speculating with Bitcoins is what the thing is all about.
  * Large cryptocoin-based institutions are welcome because they will want to push the price up.
  * Our priority is to convince everybody to change all their dollars for Bitcoins and hold them fast.
  * People should pay for things and services with Bitcoins even if it is not worth it.

That unfortunatey is the mindset that fuels bubbles and Ponzi schemes... 

[ChartBuddy]

Explanation

[fluidjax]

For those interested, you can vote to have doge banned
https://www.change.org/petitions/united-states-congress-make-the-doge-meme-illegal-in-all-forms

I hope everyone noticed the irony in that "petition".

Can someone explain me how is it possible that such a ridiculous concept has a bigger number of network transactions that bitcoin itself?
http://bitinfocharts.com/comparison/transactions-btc-doge.html

Perhaps because Dogecoin is what Bitcoin should have been?

There are a number of economic reasons that make me skeptical about Bitcoin's chances of success.  But there is one reason that makes me wary of it: the fact that its is being "marketed" more as an investment than a payment system.

Here is what a true Bitcoin believer, pure of heart, should be saying:

  * Our goal is cheap, easy, unrestricted international payments;
  * We will succeed if everybody uses uses crypto, we will fail if no one uses it;
  * Other cryptocoins are welcome and we hope they prosper.
  * Our hope is that SOME crypto will succeed; it doesn't have to be Bitcoin.
  * We do not know how much a Bitcoin will be worth, and it does not matter.
  * However, the value of a cryptocoin should be as stable as the dollar's value is now.
  * The sooner the price stabilizes, the better.
  * Hoarding or speculating with cryptocoins is evil as it defeats those goals.
  * Large cryptocoin-based financial institutions are just as evil as dollar-based ones.
  * Our priority is to convince merchants to accept crypto as payment method.
  * People should change dollars for crypto only if and when it is is clearly worth it.

Instead, here is what Bitcoin enthusiasts seem to be saying, here and in other forums:

  * Our goal is to get rich.
  * We will succeed if Bitcoin's value rises to the Moon, fail if it goes down to cents.
  * Other cryptocoins are unwelcome competition and we must speak out against them.
  * Our hope is that BITCOIN succeeds, we will be mad if some other crypto crushes it.
  * One Bitcoin must be, and surely will be, worth at least 1000 USD.
  * The price should keep rising in the long run so that Bitcoin hoarders can have a steady income.
  * Large price oscillations are good now because one can make money or grab more Bitcoins.
  * Hoarding and speculating with Bitcoins is what the thing is all about.
  * Large cryptocoin-based institutions are welcome because they will want to push the price up.
  * Our priority is to convince everybody to change all their dollars for Bitcoins and hold them fast.
  * People should pay for things and services with Bitcoins even if it is not worth it.

That unfortunatey is the mindset that fuels bubbles and Ponzi schemes...  

Early adopters need a reason to invest their money and time. Though I'll support and educate people about Bitcoin as a benefit to mankind, I'm doing it mainly for personal gain.
This is not just the mindset that fuels bubbles, it is also the mindset that nurtures and grows startups.  Like it or not, it's capitalism.
Change the world for the better AND make me rich... thats the way to do it

[doctor877]

Okay so what's happening in China??

[Miz4r]

Okay so what's happening in China??

I think it's called a breakout.

[podyx]

holy shit, mooncoin going to the moon

[spooderman]

yay weekend rally back on

[spooderman]

yay weekend rally back on

Not that i really care but where did the dips go?

Pretty sure we all have them on ignore

[Davyd05]

yay weekend rally back on

Not that i really care but where did the dips go?

what are these dips you speak of? like dip n' dot ice creams lol

[WeltMaster]

I miss volume

Just need a couple of whales to set us on track to 1k!

[adamstgBit]