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

[MoreFun]

Stamp bids look quite good for such a low price - 11M+.

[Aki4real]

Yeah I bought into the wall at 460.
And the market is probably just about to teach me another expensive lesson about bull traps.

I'm in a similar boat.. I bought at $452... However, I have been buying as we go down.. and continuing to think that we are done going down...

My buying down affliction began about 3 weeks ago at $610, so it has been fairly costly... even though it is my strategy to buy while going down and sell while going up (I haven't really gotten to the sell part of my formula, yet). 

I've bought some at 500 some time ago.. bought another few at 470..
will stop buying now until we hit 400. Ofcourse i'd like to see an (hard) uptrend soon

[JayJuanGee]

the goating is potentially quite bearish, but we have a steady flow of "newbie members" freshly paid by the NSA to come and troll here. Contracts usually start on Monday, so I am very bullish for page count once we reach midnight GMT.

The goating is just FUD.

edit: 6k in 2 weeks!

That is really bullish.. WE be lucky to reach $800 in 2 weeks.. then maybe 1K by July.. then maybe 1.5k by the end of the year... surely I am pulling these numbers out of my rear.. but.. I am trying to stay within the ballpark of probabilities.. .Maybe 2015, we will hit 10k?

[JayJuanGee]

Well I see price is going up slowly but still it is better than opposite way

dont speak too soon.. b/c overall, it still seems that we are on a downtrend....

I am NOT sure what time on Sunday the bull run usually begins, but it does NOT seem to be happening yet... .. and I am a bit sceptical about whether we are going to reach the poll numbers.... without a fairy whale grandmother or two

[tvbcof]

Yeah I bought into the wall at 460.
And the market is probably just about to teach me another expensive lesson about bull traps.

I'm in a similar boat.. I bought at $452... However, I have been buying as we go down.. and continuing to think that we are done going down...

My buying down affliction began about 3 weeks ago at $610, so it has been fairly costly... even though it is my strategy to buy while going down and sell while going up (I haven't really gotten to the sell part of my formula, yet). 

This worked for me.  I started at $16 and ended at $2, but with vastly more BTC than I anticipated ever hodling.  I sat in the red for perhaps a year IIRC.  That was fine because from the get-go I anticipated the strong possibility of a total loss.  So, no inclination to do anything but hodl and see if I eventually received a pay-out.

I'm only really comfortable buying anything when the price is falling, and conversely, selling anything when the price is going up.  Doing so will pretty much guarantee that one buys at the bottom and sells at the top.  Unless one runs out of ammo or the system collapses or the valuations cease their undulations.

Back when I was a buyer, or near the end of that time at least, I felt that by buying I was making an important contribution to mop up excess BTC liquidity.  This incentive no longer applies since Bitcoin is vastly more widely recognized at this point in time.

[Zule]

Stamp bids look quite good for such a low price - 11M+.

Once they get touched they turn into shit

[podyx]

It is good that there still is bearish sentiment

I'm wiring money as we speak

[Erdogan]

http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1201&MainCatID=12&id=2014032900017
it is REAL

That article does not seem to have any new information, just a re-re-re-hash of the same news, ultimately from the Caixin article.

The OKCoin CEO's statement, IIRC, was made just after the rumor surfaced.  The comment by the Huobi person seems  to have been garbled ("transaction records would go underground"?), the reporter may not know how an exchange works.

I think that the situation is still undefined...

Yes it just go more and more mainstream, central Bank of China will have to say something monday.

Or -- they are happy with the state of confusion in the bitcoin market.

[hailtopitt]

I'll preface this question with saying I'm new around here so please forgive my ignorance.  Why does the price not rise and rise fast when there are a lot more people bidding then asking?  Isn't that the same as buying and selling?  We have a lot of people trying to buy and few people trying to sell yet we seem to be going nowhere but down slowly?  

[JayJuanGee]

Seems like there wasn't enough coins changing hands for that to be the final bottom. Bears retreated before they even got close to $400. Looking at that order book, it's easy to see why. Looks like we're gonna need some kind of official confirmation or denial of the China rumor before either side can gain more momentum.

official confirmation or denial not coming until maybe 4/7, at the earliest

[Erdogan]

I wonder why there was no volume and no price chang on Saturday, and so much of it today.  Perhaps:

* All active traders get the rumor on Thursday or Friday.  By Friday night all the pessimists among them have sold.

* Nothing changes on Staurday, so no trading.

* The Sunday morning newspapers carry the rumor.  The occasional and week-end traders finally get it, and the pessimists among them start to sell.

all active traders are bots, and bots do not read newspapers. Bots placing sale/buy orders when they got sale/buy signals.

And the bot owners can't do anything, because they are slaves of their master bots.

[JayJuanGee]

Yeah I bought into the wall at 460.
And the market is probably just about to teach me another expensive lesson about bull traps.

I'm in a similar boat.. I bought at $452... However, I have been buying as we go down.. and continuing to think that we are done going down...

My buying down affliction began about 3 weeks ago at $610, so it has been fairly costly... even though it is my strategy to buy while going down and sell while going up (I haven't really gotten to the sell part of my formula, yet). 

I've bought some at 500 some time ago.. bought another few at 470..
will stop buying now until we hit 400. Of course i'd like to see an (hard) uptrend soon

So it sounds as if your average buy-in price is below $500... Accordingly, you are in pretty decent shape... even though the circumstances may seem a little dire at the moment. 

My average buy-in price is currently at $662 (including transaction fees), yet I am NOT going to lock in any losses by selling b/c I am fairly confident that we will return to above my average buy-in price.. maybe by no later than end of April or maybe in May? 

In any event, even though I am nervous, I am not too worried, yet.

[rpietila]

If someone who owns BTC100 or more wants to insure it by buying a put option with strike@400, you know whom to contact! 

[BBmodBB]

I'll preface this question with saying I'm new around here so please forgive my ignorance.  Why does the price not rise and rise fast when there are a lot more people bidding then asking?  Isn't that the same as buying and selling?  We have a lot of people trying to buy and few people trying to sell yet we seem to be going nowhere but down slowly?  

shortcovering? =\

[ErisDiscordia]

FINALLY I found out what Goat has been up to:

GOAT SIMULATOR

[ChartBuddy]

Explanation

[JayJuanGee]

Yeah I bought into the wall at 460.
And the market is probably just about to teach me another expensive lesson about bull traps.

I'm in a similar boat.. I bought at $452... However, I have been buying as we go down.. and continuing to think that we are done going down...

My buying down affliction began about 3 weeks ago at $610, so it has been fairly costly... even though it is my strategy to buy while going down and sell while going up (I haven't really gotten to the sell part of my formula, yet). 

This worked for me.  I started at $16 and ended at $2, but with vastly more BTC than I anticipated ever hodling.  I sat in the red for perhaps a year IIRC.  That was fine because from the get-go I anticipated the strong possibility of a total loss.  So, no inclination to do anything but hodl and see if I eventually received a pay-out.

I'm only really comfortable buying anything when the price is falling, and conversely, selling anything when the price is going up.  Doing so will pretty much guarantee that one buys at the bottom and sells at the top.  Unless one runs out of ammo or the system collapses or the valuations cease their undulations.

Back when I was a buyer, or near the end of that time at least, I felt that by buying I was making an important contribution to mop up excess BTC liquidity.  This incentive no longer applies since Bitcoin is vastly more widely recognized at this point in time.

I agree with you, and sounds like we follow a similar practice (at least attempt to do so).  I really began buying at $1,200 and I have been buying ever since..... and then recently, I began intensively again after the price dropped to $610 and then lower and lower and lower... I'm thinking that it has got to reverse sometime soon.. I still have some fiat in reserves, but i have been having to get some more fiat out of reserves based on what I consider to be a continued and unexpected downward trend over the last weeks.

[Walsoraj]

Perpetual bull traps until Stamp halts fiat withdrawals. 

[hailtopitt]

I'll preface this question with saying I'm new around here so please forgive my ignorance.  Why does the price not rise and rise fast when there are a lot more people bidding then asking?  Isn't that the same as buying and selling?  We have a lot of people trying to buy and few people trying to sell yet we seem to be going nowhere but down slowly?  

shortcovering? =\

I've got a lot to learn.  I have no idea what that is.  

[KeyserSoze]

FINALLY I found out what Goat has been up to:
GOAT SIMULATOR

Am I losing my grip on reality or did I just see a goat with an axe kill everyone at a backyard BBQ?