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

[chessnut]

holy shit boys....500 BTC sell wall on BFX eaten!

Keep walkin' bears. nothing to see here!

[fonzie]

holy shit boys....500 BTC sell wall on BFX eaten!

Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins.

[JayJuanGee]

Why are there only two cases and why do you believe that a downwards move from here is the end of bitcoin? It could very well recover in some years time.

I said - the speculative weight will bring it down. all the capital is speculative. 99%. if this asset is not performing in 6 months time, the crash will self perpetuate to zero. by then investors could afford to replace it with a new coin. google could pounce on the opportunity, for example. Ripple (although inferior) might hold the fort until bitcoin is dead.

Currently, there is NO real replacement for bitcoin, and Bitcoin is NOT going to zero any time in the next couple years.. absent some major bug...   The mere fact that there may be some issues with China and some other countries interfering with bitcoin will not be enough to push bitcoin down that much.. and.. even in these bearish case scenarios.. maybe we will get some downward trajectory for a more extended period.. but we gotta have some real additional negative news to really drive BTC down into sustainable double digits territory... .... ..

Anyhow, those very negative bearish scenarios seem way too speculative given the current strength of the network building and various strength of bitcoin fundamentals and also the fact that some governments, including the US government have NOT really yet gone on any kind of meaningful attack on bitcoin.. yet....

[fonzie]

How long before the next news from China(bank account ban) are official will whales start to sale? 1-2 hours?

[chessnut]

Currently, there is NO real replacement for bitcoin, and Bitcoin is NOT going to zero any time in the next couple years.. absent some major bug...   The mere fact that there may be some issues with China and some other countries interfering with bitcoin will not be enough to push bitcoin down that much.. and.. even in these bearish case scenarios.. maybe we will get some downward trajectory for a more extended period.. but we gotta have some real additional negative news to really drive BTC down into sustainable double digits territory... .... ..

Anyhow, those very negative bearish scenarios seem way too speculative given the current strength of the network building and various strength of bitcoin fundamentals and also the fact that some governments, including the US government have NOT really yet gone on any kind of meaningful attack on bitcoin.. yet....

I agree 100%, though I was discussing a hypothetical bear scenario. "what if the price is a MtGox hoax" but it's not. The chinese pushed the price to a genuine high.

[JayJuanGee]

Just my BTC0.00000002

I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places.

For some reason, my brain starts to swim after about 4 decimal places.

[dreamspark]

holy shit boys....500 BTC sell wall on BFX eaten!

Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins.

And loses a few thousand in fees, hardly worth it really...

[chessnut]

How long before the next news from China(bank account ban) are official will whales start to sale? 1-2 hours?

Nope. It's holiday in China today, and they are going to sleep soon. you will be squeezed before the next announcement.

[dreamspark]

Just my BTC0.00000002

I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places.

For some reason, my brain starts to swim after about 4 decimal places.

This will always be a problem and one of the reason people like names to refer to the smaller denominations. All the decimal places is not in line with human readability and it is painful to try and do any sort of calculation off the cuff with so many decimal places. There's a reason we only use two decimal places in most situations.

[JayJuanGee]

bulls and bears in despair.. while the hodlers debate how many coins a stash really needs

cheerio carry on market, carry on.

I would like to get to about 100 BTC.. .  b/c currently, I only have about 50BTC...   Of course, more would be even better, but it is NOT easy to keep setting this money aside.. .. at least for mere mortals, which currently, I am claiming to be a mere mortal.

[dreamspark]

Mmmm fresh fiat on Stamp and no China news to hold todays rally back could be an interesting day.

[Zule]

holy shit boys....500 BTC sell wall on BFX eaten!

Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins.

And loses a few thousand in fees, hardly worth it really...

Im afraid fonzie is right about this, it happends, i saw it few times. Guessing some have special fee discounts, close to zero type, esp on stamp, Ive seen same amount traded back and forth several times back and forth.

[koryu]

just wanted to throw in that we see a recovery on ltc/btc right now, also the ltc volume in china is kinda high compared to btc volume. additionally the ltc difficulty has reached a new ath.

was it just about time? And is this also bullish for btc because when people believe in altcoins they first have to believe in bitcoin and that the worst is over now?

[fonzie]

Does anyone honestly think that no more bad news will come out of China?

[mooncake]

I would like to get to about 100 BTC.. .  b/c currently, I only have about 50BTC...   Of course, more would be even better, but it is NOT easy to keep setting this money aside.. .. at least for mere mortals, which currently, I am claiming to be a mere mortal.

50 BTC is enough to move down the price by 5 USD. 

[MahaRamana]

Just my BTC0.00000002

I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places.

For some reason, my brain starts to swim after about 4 decimal places.

I agree it's very unconvenient.

This is why we use separators for numbers with many digits :  9,000,000.045 - to improve readability.

We should move the decimal at least 3 digits further : 2.18 BTC = 1 USD

[chessnut]

Does anyone honestly think that no more bad news will come out of China?

Do you honestly think it will make any difference?

what are they going to do, confirm the confirmation?

[fonzie]

Does anyone honestly think that no more bad news will come out of China?

Do you honestly think it will make any difference?

what are they going to do, confirm the confirmation?

As for now not all of the exchanges have announced that also bank deposits and withdrawls will be blocked.
Huobi /BTCChina for example are still ignoring it. If that channel gets blocked too , then the real tragedy will unfold.
And a lot more money will leave the market. Right now only 3d party is blocked and they were still able to use bank accounts,
so it made not that big difference.

[JayJuanGee]

Would you give up trying to convince everyone that this is the bottom and the reversal is about to happen to a new ATH you clowns. You know very well from these charts that the odds are we are going down even further, below 400, but you're angry because you're stuck in your stubborn HODL position.  I guess HODL isn't so glorious now, is it.

... The market has been flat for 9 days despite 'utter disaster', something I expected.... and I assure you, HODL is better than shotr right now. this 'trend' is very vulnerable to a spike into the upper 500s, and 400 is growing stronger every day.

we are in territory for a reversal. I dont see why the odds are that we are going down. Im not going to put too much faith in your macd. and this is not a trend as such, it is a correction.

Why do you bother with this guy? Every post he makes about how we are going down is because of his need to buy cheaper coins. You could basically say he's trolling.  There is no point in argueing with him. He can't give you any real reasons why we would go down.

The pot calling the kettle black.. hm? 

I thought he (Tera) was a she, and she does seem to give some reasons why she is making such BTC downward trend predictions..... even though I do NOT agree with her, she provides specifics and charts and even talks about some of her experiences. 

She does seem to have some logic defying push towards downward trajectory that seems to be in part based on low volume, too.. ... ..  I think in the next six months she (tera) will be shown to be wrong in her overall trajectory.. but I am NOT even so confident that she will be wrong to make any kind of bet of money upon it and against her... ON the other hand, with you, shroomskit, I was confident to bet against your various projections.. that we would be below $350 by this monday or alternatively that we would be below $350 within the next two weeks... that was truly a bet that seemed, a the time, worth taking b/c it was pure pie in the sky...... but NOW you seem to be taking a different view, for some reason?

[dreamspark]

Does anyone honestly think that no more bad news will come out of China?

Do you honestly think it will make any difference?

what are they going to do, confirm the confirmation?

I think its niave to think that more bad news out of China doesnt drop the price again, its been confirmed pretty much since the announcment in december but every new announcement drops the price, This is due to the negativity of the news itself and also the sharks causing panic and selling on every bit of news. Its an effective stratergy as can be seen!