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

[BitChick]

Could the sell off be a manipulative dump in order to obtain more cheap coins before China takes off after their New Years Holiday bank closures end?  Just thinking here.

Well can you please stop thinking about china's new year? Its over. Markets have moved on to the next "threat": GOX.

Hey.  The banks have been closed.  Funds are not getting into BTCChina yet, as far as I can observe. I was just asking an innocent question here.

Fair enough,

but still i think that even if more funds would get into BTCchina, there is still too much uncertainty regarding Gox that nobody would dare to make a move before it settles up. Afterall, we are talking about the first & historical BTC exchange platform, if it bails out at some point, it would be dramatic for the good image that the bitcoin world had fight for until now. thus expect new lowws 
btw didnt mean to be rude

I, along with many others, have been ignoring the price on GOX for a while now.  Maybe I am naive to think that the price would not be affected by an exchange going down, but with the price trading at a much different point then all of the other exchanges there is already a feeling that GOX is not really all that legitimate.  

[Davyd05]

Hodlers gonna hodl, solders already sodl, and whales gonna manipulate. Everything seems to be as it was.


Other thoughts, 700, the new basement price for bitcoin? I mean if the whales had 30k more coins they could drop it to 300 like in Decemeber.. but a 4k ish dump isn't gonna rock the boat the same way.

If we rebound to 800 by the midnight eastern time zone, I'll start selling my body to buy coins.

[hdbuck]

Could the sell off be a manipulative dump in order to obtain more cheap coins before China takes off after their New Years Holiday bank closures end?  Just thinking here.

Well can you please stop thinking about china's new year? Its over. Markets have moved on to the next "threat": GOX.

Hey.  The banks have been closed.  Funds are not getting into BTCChina yet, as far as I can observe. I was just asking an innocent question here.

Fair enough,

but still i think that even if more funds would get into BTCchina, there is still too much uncertainty regarding Gox that nobody would dare to make a move before it settles up. Afterall, we are talking about the first & historical BTC exchange platform, if it bails out at some point, it would be dramatic for the good image that the bitcoin world had fight for until now. thus expect new lowws  
btw didnt mean to be rude

I, along with many others, have been ignoring the price on GOX for a while now.  Maybe I am naive to think that the price would not be affected by an exchange going down, but with the price trading at a much different point then all of the other exchanges there is already a feeling that GOX is not really all that legitimate.  

I agree, still its not much about the importance you give them, it is more about the thousands of people saying bye bye to their money & BTC. How would the entire world react in front of such fraud?

edit: i can already see the mainstream medias' front pages... ^^

[kkaspar]

Could the sell off be a manipulative dump in order to obtain more cheap coins before China takes off after their New Years Holiday bank closures end?  Just thinking here.

Bear traps are built in a way that are scary and create panic among the regular folks. So, the sales during bear traps are constant and steady for tens of minutes, so everyone will get their time to panic.
When there are big dumps with proper intervals, then someone with a lot of coins wants out and he wants it quickly with "good enough" profits.

800 held with the choo choo folks building their buy walls near that sum that eventually got eaten by big sales. With this small volume you didn't have to buy a lot to drag the price back to 800, and then wait till new buy walls were built, and then another big dump. Now we are dropping below 800 because the number is losing the faith of the choo choo folks.
But I don't think that the drops in coming days will be very dramatic... we will probably see a new number at 780, and the dance will continue for some time like with 800.. we will probably see 760, 740.. and until even the regular folks see the pattern, and then there will be a sudden drop.

I think that people are blind to hope that BTC will still rise, even with important markets closing. People are so religious about this subject that BTCCHina's "Well, we opened our bank deposits and we hope that we aren't doing anything illegal" statements actually seem like good news to them, not acts of desperation.

Open new markets with high volume in new geographical locations and I'm back being bullish! But this whimpering with building weak hope around China's dying market is kind of pathetic...

[biafore]

Huge dumps coming

[Davyd05]

lol lack thereof btc withdrawal = goxbux revival 800 coins sold just now or so.

[dgarcia]

Hola! I'm really astonished. Gox seems to be really bad-tempered  

[virtualfaqs]

lol lack thereof btc withdrawal = goxbux revival 800 coins sold just now or so.

Mtgox is back to $100 above Bitstamp and BTC-E with that last dump.

[podyx]

feels good to have fiat on exchange

price goes down:

price goes up:

[hdbuck]

Hola! I'm really astonished. Gox seems to be really bad-tempered  

it's happeninnnng

[arklan]

Wall Street Journal Debuts Dedicated Bitcoin Coverage

http://bitcoinmagazine.com/9927/wall-street-journal-debuts-dedicated-bitcoin-coverage/

Well now.

[JorgeStolfi]

Start time of the 2014-02-05 "mini-crash" on various exchanges,
estimated visually from the 1-minute charts at
http://bicoinwisdom.com:


  Time  ! Exchange ! Drop ! Un. ! Vol.BTC
  ------+----------+------+-----+--------
  22:50 | Huobi    |  5.0 | CNY |   24.25
  22:56 | MtGOX    |  8.0 | USD |  186.80
  23:03 | BTC-e    |  0.8 | USD |   20.54
  23:03 | Bitstamp |  2.5 | USD |   27.07
  23:03 | Coinbase |  3.0 | USD |     . 
  23:05 | BitFinEx |  5.0 | USD |   46.98
  23:06 | OKCoin   | 15.0 | CNY |   12.15


Date and times are UTC.

AFAIK, Feb/05 22:50 UTC = Feb/05 17:50 in New York = Feb/06 07:50 in China.

The start of the mini-crash is often hard to pinpoint objectively.
At Huobi, in particular, the price started to decrease slowly and then
accelerated.  Other people may pick completely different times
which may lead to different time orderings of the exchanges.

[TERA]

[Denton]

Glad i sold at 800. Will buy back when it's clearer what's happening with gox.

[Davyd05]

Start time of the 2014-02-05 "mini-crash" on various exchanges,
estimated visually from the 1-minute charts at
http://bicoinwisdom.com:


  Time  ! Exchange ! Drop ! Un. ! Vol.BTC
  ------+----------+------+-----+--------
  22:50 | Huobi    |  5.0 | CNY |   24.25
  22:56 | MtGOX    |  8.0 | USD |  186.80
  23:03 | BTC-e    |  0.8 | USD |   20.54
  23:03 | Bitstamp |  2.5 | USD |   27.07
  23:03 | Coinbase |  3.0 | USD |     . 
  23:05 | BitFinEx |  5.0 | USD |   46.98
  23:06 | OKCoin   | 15.0 | CNY |   12.15


Date and times are UTC.

AFAIK, Feb/05 22:50 UTC = Feb/05 17:50 in New York = Feb/06 07:50 in China.

The start of the mini-crash is often hard to pinpoint objectively.
At Huobi, in particular, the price started to decrease slowly and then
accelerated.  Other people may pick completely different times
which may lead to different time orderings of the exchanges.

feb 5th 14:29 bitwisdom stamp price 900 coins sold.. think that was the start.

[Mad Scientist]

You know this BitCoin manipulation/consolidation/flatulation, whatever it is, makes me think that it's gonna' remain at 780-820 or so for the foreseeable future and has got me thinkin' that MAYBE it's time to exit the BitCoin Market. And I imagine a lot of other noobs are thinking along the same lines.

But I won't.

And as a noob, I AM appreciative of all you guys trying to explain it though.

[Davyd05]

Gox wants parity loool

[biafore]

I personally dumped 100 over 3 hours ago

[Protagonus]

hrmm for gox I had points at 880-870-860.......next is 804.83  

couldn't get there though  

[BitcoinAshley]

Price is tanking, Gox just hit $850 for a second. Back up to $856 and Stamp at $781. Yeehaw! Maybe we'll see $600 within the week