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

[ChartBuddy]

Explanation

[scorp1618]

Gox chart https://www.tradingview.com/v/4hKqJpci/

Update. This is not over.

https://www.tradingview.com/x/McJhunVe/

https://www.tradingview.com/x/he3JVSF1/

[Wyld]

I see today as great. Gox finally closed the price gap which it desperately needed to, and the other exchanges didn't lose much in the process.

[BitChick]

I see today as great. Gox finally closed the price gap which it desperately needed to, and the other exchanges didn't lose much in the process.

Gox?  What is this Gox you speak of? 

Some of us have been ignoring Gox for a while now.  But I think it proves that Gox is not as important in market valuation as it used to be, thankfully!

[scorp1618]

BitStamp showing the same signs that Gox is;

Gox: https://www.tradingview.com/i/4hKqJpci/

Stamp: https://www.tradingview.com/x/QE3IPrr3/

[seljo]

BitStamp showing the same signs that Gox is;

Gox:

Stamp:

OMG I have to go I need to sacrifice a chicken.

[EuroTrash]

Can Gox please die forever? It has become an embarrassment to our community. We can't be taken seriously enough with Gox being still around.

[Richy_T]

Er. I guess it is obvious if you think about it:

Maxcoin

EDIT: Yep - I groaned too.

I was rooting for Keisercoin

[Davyd05]

Every bitcoin post-rally has a slow final downwave that involves a 1 week MACD cross. It doesn't really need to be news-based.

did you bring this up cause this crossing just occurred on stamp ?

[Dragonkiller]

So if it follows previous patterns, after this downturn, we slowly start going up towards a new ATH?

[Davyd05]

So if it follows previous patterns, after this downturn, we slowly start going up towards a new ATH?

even if I have to wait till Sept. 2014 for the next rally, ain't no thang

[marcelus]

So if it follows previous patterns, after this downturn, we slowly start going up towards a new ATH?

Yes but we should have a long way to go if it follows previous patterns. Like into the $400s.

[Dragonkiller]

Looking at the chart, if it's like April, this downturn should last about a month, then we go to the moon 

[Davyd05]

766 wall munchy time, seems like someone wants the cheaper coins

[Dragonkiller]

So if it follows previous patterns, after this downturn, we slowly start going up towards a new ATH?

even if I have to wait till Sept. 2014 for the next rally, ain't no thang

What do you have planned for September?  

[BitChick]

I guess Second Market purchased 5870 coins a couple of days ago.  (See thread post: https://bitcointalk.org/index.php?topic=337486.msg4963260#msg4963260 )

Just wondering why this did not boost the price at all.  I assume all of the coins must have been purchased off the exchanges?  Hopefully they run out of miners to purchase from at some point!

[MANofthePEOPLE]

Almost 800 coins sold there on stamp. At least it's fun to see all these transactions after such a slow month

[ChartBuddy]

Explanation

[Dragonkiller]

Almost 800 coins sold there on stamp. At least it's fun to see all these transactions after such a slow month

Someone just bought about 600 coins on stamp

[traderCJ]

I think that this will be too hard and this project will fail. It will probably pick up again with new cryptos that have more favorable properties for keeping the price stable.

I concur.  I used to be a bull, but I am more bearish as the days wear on.  There are myriad technical, economic and regulatory problems which stand in the way of this particular crypto.  If I were at the helm of a particular country's government, I'd be looking hard at pegging a proprietary crypto currency to my currency.  It will take a government actually integrating a crypto currency into their infrastructure for it to be widely accepted.  I do not believe it will be Bitcoin.  The vast majority of people on this forum are hoping to be part of the next wave of Bitcoin millionaires.  Can't blame them, but tread lightly, folks.  Bitcoin is intended as a medium of exchange, not a reliable store of value.  After all, you're just swapping ledger entries.  If you want a store of value, look elsewhere.  Bitcoin's value is a combination of the effects of monetary velocity due to commercial transactions and (primarily) pure speculation.  To rely on the speculation of others to secure the value of your wealth is foolish.  Consider what props up the value of these ledger entries.  Fiat currencies suffer from the same built-in speculative value, however the value is guaranteed to some degree by government coercion, right or wrong.  Be realistic.  Take profit on a regular basis.