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

[MinermanNC]

this could easily be the beginning of a $100 move. The Chinese customers will be going to bed. no more panic selling for the next 10 hours.

then in eleven hours you'll see a dump that'll take us back to where we are or lower.

I dont think the market works like that. The chinese are not going to sleep blissfully unaware that market might crash to oblivion tonight. They have factored in yesterdays news today and are finished.
The chinese trading day is over, and tomorrow may open on a new page. If they like what they see, they might find a new sense of patience. After all, they have weeks to work around.

I agree, I think all the dust is settling now. PBOC could always come back out and say its reconsidered and is going to set new guidelines. I don't see a huge sell off, nor have we seen that yet. BTC down over speculation more than anything, and of course Gox and all the crappy exchanges going under lol

[mmitech]

and it was only about time that huobi said something http://www.huobi.com/news/index.php?a=show_notice&id=286

Red candles incoming...

translation that makes sense. ("Fire Coin" refers to Huobi)
Distinguished fire coin network users:
About online rumors "4.15" incident, fire-coin network has been active in efforts to communicate with relevant departments, it is regrettable that so far, we have no specific information, nor will give investors an accurate answer, apologize.
Yesterday, several coins trading platforms have issued a short notice that there would be no point recharge card or bank transfer. We also saw in the Twitter and other sources, a lot of coin investors and our friends in the media are very concerned about the fire side of network news, first of all, we would like to thank all our friends to fire attention and support of the network of currency, then we fire-coin network business and the finance sector in funding channel access to the latest information (as 2014.4.3 16:00) made a detailed report on:
Fire-coin network colleagues in the business and Finance Department today and point card distributors and cooperation conducted phone banks, related as follows:
A, point card distributors: 1) four third party payment companies to cooperate, there's a phone tip risk, the other three for the time being there is no feedback issues; 2) prompted the risk of third party payment companies, has not received a new notification, made to the point card distributors risk because of being reported, led calls for strict execution on December 5 last year, five ministries and commissions release the notice of the risk on the prevention of the bitcoin.
Second, the Bank: 1) industry, agriculture, construction, four lines of fire money net branch to open an account in the last 3 months are not receiving notifications; 2) for April 15, saying they were obtained from the media; 3) they were unable to determine the authenticity of the message.
Coin above the fire gathered by the network of current information, this information is first-hand, and is an objective description, does not make any inference and speculation. Fire CAD information network platform information and other announcements are not exactly the same, may be caused by differences in geographical as well as service providers, as to why different regions with different service providers may have different policies, is not known.
Based on the above information, taking into account the uncertainty of current industry policies, after consultation with the point card distributors, fire-coin network will be officially closed on April 5, 2014, at 0 o'clock card. At the same time, currency net bank transfer charge of fire service is 7*24 hours manual processing, make sure that the user fast recharge. In addition, the coin of fire net withdrawal of RMB business is not affected, bitcoin recharge, Leyte currency are not affected.
Finally, the coin of fire NET declares:
Because the domestic industry policy uncertainty, bitcoin trading volatile, users are desperately hoping to get their desired information. Users want platform for short message is bad, once good will usher in scolding the sound or vice versa. In this regard, the coin of fire NET Disclaimer: coin of fire NET, air never represented more than the interests of any party, announcement or information are ahead, open, objective and stand the test of time, the majority of users monitoring.

[TERA]

Where can I trade Fire Coin / BTC?

[mmitech]

Where can I trade Fire Coin / BTC?

fire coin is the name of the company that operates Huobi...

[hdbuck]

so huobi closing on april 5th???!  

fire-coin network will be officially closed on April 5, 2014, at 0 o'clock card.

[billyjoeallen]

Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.

It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.

[cruiser]

and it was only about time that huobi said something http://www.huobi.com/news/index.php?a=show_notice&id=286

Nothing new. It was posted 2-3 hours ago (17:58:49 Chinese time).

[magicmexican]

Market already reacted to these news in a positive way hours ago

[lynn_402]

Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.

It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.

What makes you think the 3600 coins mined everyday end up on exchanges? I'm sure many of these are from miners who believe in the long term potential of Bitcoin, and won't sell at these low prices.

[mmitech]

ops, sorry I didn't see the news before, I woke up a couple of hours ago anyway.....

[fonzie]

Based on the above information, taking into account the uncertainty of current industry policies, after consultation with the point card distributors, fire-coin network will be officially closed on April 5, 2014, at 0 o'clock card. At the same time, currency net bank transfer charge of fire service is 7*24 hours manual processing, make sure that the user fast recharge.

[hdbuck]

Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.

It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.

What makes you think the 3600 coins mined everyday end up on exchanges? I'm sure many of these are from miners who believe in the long term potential of Bitcoin, and won't sell at these low prices.

selling coins at those rate would not be enough to ROI anyway. so yea, freshly minted coins are less likely to hit exchanges when price is down.

[seleme]

I don't understand that google translate of huobi news. It surely doesn't mean they're closing the doors?

[lynn_402]

selling coins at those rate would not be enough to ROI anyway. so yea, freshly minted coins are less likely to hit exchanges when price is down.

Exactly. So what is left to be sold when every bear are full-fiat and every noob has already panic sold?

[mmitech]

I don't understand that google translate of huobi news. It surely doesn't mean they're closing the doors?

it was Bing translate, I tried Google and it is worse than this one    I don't understand either, well I guess we will see on the 5th of April what will happen.

[FlyingLotus]

I don't understand that google translate of huobi news. It surely doesn't mean they're closing the doors?

Does it relate to the third-party involvement for transactions?

Difficult to tell

[jonoiv]

Market already reacted to these news in a positive way hours ago

+1

it's almost 9pm in China

[TERA]

Market already reacted to these news in a positive way hours ago

+1

it's almost 9pm in China

No it was reaction to 1 hour MACD.

[jonoiv]

Market already reacted to these news in a positive way hours ago

+1

it's almost 9pm in China

No it was reaction to 1 hour MACD.

So why is the time identical ?

6pm in China

[fonzie]

What will Stamp do if it cannot follow Huobi anymore. It has no will of it own!