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

[arklan]

so i've been offline the last week while moving. wtf caused the dip into the 500's? anything specific or just general movement?

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[tarmi]

to me, only question of time when 530 $ is breach.

then it will be panic time.

2000 coins on bitstamp before that. Single small buy and we shoot back up into the 580's and beyond. But yeah the chart looks bearish. Any sign of a turn and ill buy my next twenty coins.

in a bear market? good luck!


just place your bids low enough. dont fall in bull traps.

This is not a bear market. We are still up 40% from the 400 low.

Thats a matter of perspective.  Few months ago we were @ 1000 $.

[wetroof]

objectively we are in a b*** market.

[fcmatt]

objectively we are in a b*** market.

Maybe we are. Feels like it and i am sure a chartist can show that if they wish. But when i can sell 10 btc for more then 5000 dollars that is amazing. Well to those who were around for a few years at least. I stop selling when the price is below 640. That is hilarious to me cause i used to sell 100 btc at 10 bucks each.

I took enough cash out of the system over the last few months so i am content to hold, wait, and accumulate. So a bear market? I guess it depends on your situation. Bitcoin could go to zero and i would be content. Or to 1000 and i am ok with that.

[JorgeStolfi]

Hey, SecondMarket's Bitcoin Investment Trust updated the "liquidity" paragraph on their page:

REDEMPTIONS/LIQUIDITY:
Redemption offered on a limited basis with plans for being publicly traded on OTCQX®*
*Redemption of shares will be allowed on a limited basis as of April 2014 with expectation of qualifying for public trading of the shares via the OTCQX® under the Alternative Reporting Standards.

It used to say "liquidity to start no later than March 2014", which of course meant March 31st.   Now "as of April 2014" surely means April 30, and "limited basis" presumably means only some investors may be allowed to take out only some of their money.

What a surprise, yawn.  

And they seem to be hoping to avoid liquidity altogether by implying that it is equivalent to allowing investors to sell to other investors, on that specific market.  Of course it is not.

If an investor truly liquidates, BIT has to pay him; if that investor entered in September with 100,000 USD, they have to pay him ~500,000 USD now, and then try to recover that sum by selling the corresponding bitcoins.  They will not be free from this obligation until the BTC price itself goes to zero.

On the other hand, if the investor is told to "liquidate" by trading his shares on the open market, he will have to find another sucker who is willing to but a BIT share for its face value; in which case it is that sucker who pays, and BIT keeps all their money, down to the cent.  If BIT then suspends liquidity indefinitely (as other Bitcoin funds have done before, IIUC), the market price of a BIT share may go to zero, and investors may lose all their money -- even if the BTC price (and therefore the nominal BIT share value) goes to the moon.

[hd060053]

i think a decent pump (2-3 k) and then a strong buy wall (5k) on stamp could turn the market now.

[billyjoeallen]

objectively we are in a b*** market.

Horse shit. Objectively we are 40% up from the low less than a month ago, >100% up from where were were 4 and a half months ago. Since then we've added millions of wallets, features, upgrades, merchants, and ATMs.  

[ChartBuddy]

Explanation

[sir faps]

objectively we are in a b*** market.

To everyone who read this as "objectively we are in a BEAR market", that is not what wetroof is saying. This statement is a joke. Literally. b*** could be bull or it could be bear. Interesting to notice how everyone who has replied to this post this far has read it as bear though...

[threecats]

Fuck me, i blame it on those 350ug acid tabs, but i´m feelin bullish for BTC again.
I hope i won´t get burned for all that love about BTC(price).  
Just bought 30 new coins.
If we go below 490$ i will never post again, promised.

better get your last posts in quick bud : -)

[chesthing]

I was typing the same response as you faps but you beat me. The assumption in the responses is interesting, shows the bulls are very touchy and defensive.

[fcmatt]

objectively we are in a b*** market.

To everyone who read this as "objectively we are in a BEAR market", that is not what wetroof is saying. This statement is a joke. Literally. b*** could be bull or it could be bear. Interesting to notice how everyone who has replied to this post this far has read it as bear though...

Nice catch. I thought that saying bear in this thread was taboo and that was the joke.

Plus with recent events it is hard to argue this is a bull market.

[adamstgBit]

objectively we are in a b*** market.

Horse shit. Objectively we are 40% up from the low less than a month ago, >100% up from where were were 4 and a half months agoince then we've added millions of wallets, features, upgrades, merchants, and ATMs.  

ya but we are like 60% down from the ATH and appear to be continuing to drop.

it doesn't scare me, but its depressing...
i just don't get why people are selling!
even with the current infrastructure i believe bitcoin should be 10K
We can spend them very easily on anything, big shit too, you can pay your rent in bitcoins, you can buy F'ing mammoth tusks FFS, mtgox and other bad exchanges have been weeded out, and now we hear talk of "wall street grade" exchanges coming online. Shit is growing & getting better at a phenomenal rate, it doesn't make any sense to me... we should be at 10K already. this is why i'm a buyer, if you told me last year i'd be buying 600$ bitcoin i'd lol hard and say that i would be a seller at 600$ but here i am buying at 600$, because wow.

[sir faps]

I was typing the same response as you faps but you beat me. The assumption in the responses is interesting, shows the bulls are very touchy and defensive.

I agree, the assumption just made me laugh.

[JorgeStolfi]

Objectively we are [ not in a bear market because we are ] 40% up from the low less than a month ago, >100% up from where were were 4 and a half months ago. Since then we've added millions of wallets, features, upgrades, merchants, and ATMs.  

By that logic, we will be in a bull market until the BTC price gets down to 0$. 

[billyjoeallen]

objectively we are in a b*** market.

To everyone who read this as "objectively we are in a BEAR market", that is not what wetroof is saying. This statement is a joke. Literally. b*** could be bull or it could be bear. Interesting to notice how everyone who has replied to this post this far has read it as bear though...

ok, my bad. I get it. I'm still buying.

[magicmexican]

I dont get why people sell right now, maybe they are getting greedy thinking about dat juicy 400 or something

[NewLiberty]

so i've been offline the last week while moving. wtf caused the dip into the 500's? anything specific or just general movement?

China fake news precipitated this last drop.
Same thing happened in June 2013 at the bottom of the trend.  Hacked news post caused the final drop to the bottom of the market for the inter-spike interval.

Hackers want your coins.  Sell them to the hackers along with the sheeple, or call it capitulation if you like.  Its all the same to me, I'll buy them along with the hackers and thank you for them.

As you know, most of the dips and bear trends are stimulated by hacking activity, DDoS, and cracked exchanges.

[NewLiberty]

Fuck me, i blame it on those 350ug acid tabs, but i´m feelin bullish for BTC again.
I hope i won´t get burned for all that love about BTC(price).  
Just bought 30 new coins.
If we go below 490$ i will never post again, promised.

better get your last posts in quick bud : -)

riiiight, because the price of BTC in USD depends on the amount of micrograms of LSD that fonzie takes?

[magicmexican]

1min stamp graph, btc died?