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

[TERA]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

[OldGeek]

Difficult to say atm.  Stamp and BTC-e are sloping down.  Don't pay any attention to MtSux or Hooboy, so don't know what to say about them.

[billyjoeallen]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

[TERA]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

Even if those people hodl, additional new coins can enter the market or get unhodled by different people.

[ChartBuddy]

Explanation

[billyjoeallen]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

Even if those people hodl, additional new coins can enter the market or get unhodled by different people.

hodlers hodl. That's why they're called "hodlers".  It could go back down, but people looking at a four year log trend line are not going to sell. Nobody knows how much liquidity is soaked up by hodlers until the next parabolic move up. I've seen it too many times. If I was a power player, this is exactly the kind of dip I'd be looking for.

[ScrapOfCat]

It's just.  not. true.

https://www.youtube.com/watch?v=m76PFLg5jpc

[Davyd05]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

Even if those people hodl, additional new coins can enter the market or get unhodled by different people.

I think a large portion of the new joiners are becoming hodlers. Why not, the others in the past have experienced good returns for patience. Not everyone is a day trader or should even think about trying it so buy and hold is the simplest strategy for a total newbie. Or buy bitcoin to spend online and each time buy an extra %5-15 btc based of the purchases price in fiat as a mean to hedge against its deflationary aspect.

I think those sitting on large amounts from early days are hedging now, perhaps btc > gold or btc > fiat > gold, whatever satisfies said investor. Most people don't look at the actual price rises now being smaller then what occurred during $.30 -> $32 or $12 to $266.

People who bought and held from those periods are still able to sell and hedge their bets... and smart people don't keep all their eggs in one basket, so in turn the rise in value of a bitcoin forces them to hedge the position appropriately, not saying that you can't go full bitcoin with your wealth...there are people who'd bet it all on red for the chance to double up, but we have to expect some selling pressure during any steep rise to offset hedging etc.

[billyjoeallen]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

Even if those people hodl, additional new coins can enter the market or get unhodled by different people.

I think a large portion of the new joiners are becoming hodlers. Why not, the others in the past have experienced good returns for patience. Not everyone is a day trader or should even think about trying it so buy and hold is the simplest strategy for a total newbie. Or buy bitcoin to spend online and each time buy an extra %5-15 btc based of the purchases price in fiat as a mean to hedge against its deflationary aspect.

I think those sitting on large amounts from early days are hedging now, perhaps btc > gold or btc > fiat > gold, whatever satisfies said investor. Most people don't look at the actual price rises now being smaller then what occurred during $.30 -> $32 or $12 to $266.

People who bought and held from those periods are still able to sell and hedge their bets... and smart people don't keep all their eggs in one basket, so in turn the rise in value of a bitcoin forces them to hedge the position appropriately, not saying that you can't go full bitcoin with your wealth...there are people who'd bet it all on red for the chance to double up, but we have to expect some selling pressure during any steep rise to offset hedging etc.

Obviously you are right, but most people are by nature herd animals who bet the trend. It's the interplay between the smart money and the lemmings that give us market swings. And in this market, the smart money guys take there profits in Bitcoin, not fiat.

[OldGeek]

BTC-e trying to recover.

[Davyd05]

On the other hand, the volume on btce and bitstamp is actually relatively high for this month, so we might see another nice little choo choo bulltrap to $800 or so.

Unless the people who are buying are long-term hodlers, in which case it's a bear trap.

Even if those people hodl, additional new coins can enter the market or get unhodled by different people.

I think a large portion of the new joiners are becoming hodlers. Why not, the others in the past have experienced good returns for patience. Not everyone is a day trader or should even think about trying it so buy and hold is the simplest strategy for a total newbie. Or buy bitcoin to spend online and each time buy an extra %5-15 btc based of the purchases price in fiat as a mean to hedge against its deflationary aspect.

I think those sitting on large amounts from early days are hedging now, perhaps btc > gold or btc > fiat > gold, whatever satisfies said investor. Most people don't look at the actual price rises now being smaller then what occurred during $.30 -> $32 or $12 to $266.

People who bought and held from those periods are still able to sell and hedge their bets... and smart people don't keep all their eggs in one basket, so in turn the rise in value of a bitcoin forces them to hedge the position appropriately, not saying that you can't go full bitcoin with your wealth...there are people who'd bet it all on red for the chance to double up, but we have to expect some selling pressure during any steep rise to offset hedging etc.

Obviously you are right, but most people are by nature herd animals who bet the trend. It's the interplay between the smart money and the lemmings that give us market swings. And in this market, the smart money guys take there profits in Bitcoin, not fiat.

I still think a large portion of people are hedging 25%-50% out of btc when they see a rise of 10x or greater of their buy in price, not everyone but I'd lean to a majority as in 50.01%.

If I were to have acquired a large enough amount of bitcoin earlier I'd reinvest a fair bit of those gains into properties and reinvest the profits of those properties into bitcoin. Not to mention I will get this opportunity most likely by June of this year.

 there aren't many lemmings in bitcoin yet comparatively, I know lemmings they still think this is a big ponzi.

[mmitech]

mmmmm...looks like we wont see the usual 150-250K/24 hours volume again, all the FUD going around triggered only 30K on bitstamp, this makes me so bullish about the medium-long term future of bitcoin

[ChartBuddy]

Explanation

[JCviggen]

BTC-e/Stamp are just following Huobi again now.

[jackiedragon]

From the lifeonbitcoin.com blog:

Does anyone really USE bitcoin?
It’s like asking “Does anybody use the World Wide Web?” in 1993.   

[surfer43]

From the lifeonbitcoin.com blog:

Does anyone really USE bitcoin?
It’s like asking “Does anybody use the World Wide Web?” in 1993.   

That is a great analogy. I hear

"What can you actually buy with bitcoin? The grocery store doesn't accept it???!!! Why would anyone use that?!"

a lot.

[Davyd05]

From the lifeonbitcoin.com blog:

Does anyone really USE bitcoin?
It’s like asking “Does anybody use the World Wide Web?” in 1993.    

That is a great analogy. I hear

"What can you actually buy with bitcoin? The grocery store doesn't accept it???!!! Why would anyone use that?!"

a lot.

another example of lemmings. by the time were buying apples at major super market chain stores it will be accepted nationally if not globally lol

[billyjoeallen]

Obviously you are right, but most people are by nature herd animals who bet the trend. It's the interplay between the smart money and the lemmings that give us market swings. And in this market, the smart money guys take there profits in Bitcoin, not fiat.

I still think a large portion of people are hedging 25%-50% out of btc when they see a rise of 10x or greater of their buy in price, not everyone but I'd lean to a majority as in 50.01%.

If I were to have acquired a large enough amount of bitcoin earlier I'd reinvest a fair bit of those gains into properties and reinvest the profits of those properties into bitcoin. Not to mention I will get this opportunity most likely by June of this year.

 there aren't many lemmings in bitcoin yet comparatively, I know lemmings they still think this is a big ponzi.

That's way too big a hedge, IMHO. A hedge is a bet you hope you lose, like life insurance. I hedge 10% the same way stock investors typically hedge 5-10% in precious metals.
this market has had three rallies of more than 10X, but the proportional increase is going down for each successive rally.

[ChartBuddy]

Explanation

[solex]

Well, I didn't have confirmed sources back then.

This only confrms your genious mind.

I'm gonna have to put you on ignore as well. Buh bye.

Jeez Christ! You lasted out until page 4269!