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

[JorgeStolfi]

annnnd we're back where we were yesterday.

Not clear yet... Bitstamp has recovered but on a very thin volume and not very strong bid support.  Other exchanges are still quite a bit lower than pre-crash levels.  Bitstamp is also higher than Huobi/OKCoin at the nominal exchange rate; it used to be lower. 

[UnDerDoG81]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

[Vigil]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

How were you awake? I was fast asleep at 4:00 AM.

[aminorex]

the amount of btc that is frozen on gox now (even more because of the gox legendary bid depth and anticipation of large selloffs on mondays news and in general!!!), will take us to a new ath very soon lol.

well played mark!

well played!

Not only thus, but thanks to Mark, all the capitulation overhang has been wrung out of the market.  We can invest without fear now, thanks to Mark.  Mortgage your spouses and call the loan shark!

[mb300sd]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

I slept through it all, panic hodling hard.

[wachtwoord]

annnnd we're back where we were yesterday. This might have actually been a good thing, weak hands definitely shaken.

>$100 below Friday though.

[shmadz]

I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.

They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane.

Right, Btc-e is taking Huge risk , they are GAMBLING with Customers USD deposits by allowing 1:3 leverage. If those are indeed forced liquidations, btc-e suffered millions in loss.

OK, I stand corrected, this is the most probable thesis I have heard so far...

Still way behind and trying to catch up.

[adamstgBit]

[Mythul]

Btc-e under stamp, is that the new bear in town ?

[ChartBuddy]

Done with Gox
Explanation

[UnDerDoG81]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

How were you awake? I was fast asleep at 4:00 AM.

It was 1:00 PM here in germany... The more worse thing is, I thought we´ll go back to deep 600´s again and sold 40 coins @689 (bought them at 680 3 days ago) and now we go up... I hate speculating, was wrong each time...

[creekbore]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

How were you awake? I was fast asleep at 4:00 AM.

It was 1:00 PM here in germany... The more worse thing is, I thought we´ll go back to deep 600´s again and sold 40 coins @689 (bought them at 680 3 days ago) and now we go up... I hate speculating, was wrong each time...

The great thing about BTC is long term you'll be a winner...that's why HODL is so popular here.

[UnDerDoG81]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

How were you awake? I was fast asleep at 4:00 AM.

It was 1:00 PM here in germany... The more worse thing is, I thought we´ll go back to deep 600´s again and sold 40 coins @689 (bought them at 680 3 days ago) and now we go up... I hate speculating, was wrong each time...

The great thing about BTC is long term you'll be a winner...that's why HODL is so popular here.

I have 50% coins wich I will HODL forever but new cash arrived @stamp last week and so I wanted to speculate a bit and make some extra coins but it went wrong again... Hope stamp will go back again under 650

[adamstgBit]

Lol am I the only one who made not $1 profit from this dip? Missed the 500´s because I thought we go way more down and in seconds we were back at 630 so I thought it will be a mistake to buy because we´ll go under 500 after that jump and now we´re back there where we were yesterday...

How were you awake? I was fast asleep at 4:00 AM.

It was 1:00 PM here in germany... The more worse thing is, I thought we´ll go back to deep 600´s again and sold 40 coins @689 (bought them at 680 3 days ago) and now we go up... I hate speculating, was wrong each time...

The great thing about BTC is long term you'll be a winner...that's why HODL is so popular here.

I have 50% coins wich I will HODL forever but new cash arrived @stamp last week and so I wanted to speculate a bit and make some extra coins but it went wrong again... Hope stamp will go back again under 650

i'll be buying at that price too ( if given the opportunity....)

[JorgeStolfi]

Among the many, many things that MtGOX's press release did not explain:

 * When did the BTC withdrawal bug start happening?
 * If the bug was alway there, why didn't it cause problems years ago?
 * If the bug is recent, why did they replace a validation code that worked by that buggy one?
 * Clients have been complaining for months about the errors. Why wasn't the bug found and fixed before?

They could also have at least stated (even without showing evidence)  the basic numbers of their financial position:

  * how many bitcoins they have in their wallets and how much money they have in the bank;
  * how many bitcoins and how much money they owe to their clients (ie. the sum of balances of all accounts);
  * how many bitcoins and how much money clients have asked to withdraw but have not been allowed to.

The answer to the last question seems to be in the tens of millions of dollars at least.

I take their unwillingness to give these basic numebrs as strong evidence that they are insolvent.

[adamstgBit]

http://www.youtube.com/watch?v=6lutNECOZFw

[wachtwoord]

Being in the position MtGox has been in for years the word retarded doesn't begin to describe how idiotic it is for them to become insolvent. They were in a position to basically print money with almost no risk ...

[spooderman]

they're not insolvent I wish everyone would stop going on about this. How could you actually fail that hard? They make more than half a percent on many of their transactions. They have a workable business model (when it works - it works!) If they genuinely don't have the cash I have no idea how they could have lost it.

[spooderman]

http://www.youtube.com/watch?v=6lutNECOZFw

loling hard

[podyx]

low bidside makes me kinda think its a bulltrap