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

[JayJuanGee]

just got home from work..... nice!! what a rally!!

Uptrends automatically makes every day a good day

So the Australian limitations do NOT seem to play into keeping this down, necessarily.  That news is still a little vague too..... but at least seems more clear than any news that comes out of china.

[ampere9765]

After I make this post, I am going dark on anything bitcoin related. I am not in a panic, just a little annoyed about seeing the price go down constantly. Hopefully by the time I come back, we will be on our way to the moon. C ya later boys.

                                                                               

cool. all the people here for the wrong reasons please leave.

cya l8ter.

That's not really fair

BTC dropped 70% over several months -- that kind of loss in value can cause a world of hurt for people who just held

The sentiment is fair enough

[chessnut]

BUMP. I have picked out every minor bottom, and every potential major bottom since 465. long from 355.

very nice!

I also expect consodolation here this friday

Expecting a rally to 460-500 this weekend though

Nicely done Podyx. and it all lines up with some really promising news. might be good for a long term hodl.

[JorgeStolfi]

Second Market bought 5800 coins yesterday, holding 101500 now.

There is a thread monitoring that fund: https://bitcointalk.org/index.php?topic=337486.0

It seems that the earliest investors, who joined in September, can now liquidate. The shares are nominally worth 0.1 BTC at the current BTC/USD price; so those investors paid ~13 USD/share and may liquidate now at ~45 USD/share, a nice profit.

On the other hand, investors who bought in late November paid up to 110 USD for shares that are now worth ~45 USD.  I suppose that they will be allowed to liquidate only in June; their gain or loss will be determined by the BTC price at that date.

From the table in that thread, I computed that the total money invested in the fund (minus the amount liquidated) must be now a few million USD more than the total nominal value of all extant shares (worth ~40 USD each as of yesterday).  If that computation is correct, the average gain among all investors, if they all liquidated today, would be a bit negative.  The averag loss of course will be larger if the BTC price falls further below 40 USD.

[exponential]

Reallly contemplating buying back in now.  I will have gained about .5 BTC.  Can anyone more knowledgeable than I explain the news better than google translate?

[nanobrain]

I have picked out every minor bottom, and every potential major bottom since 465. long from 355.

Chessnut 12 hours ago: "400 is in striking range, easy."
Price slides down to 340

[wilfried]

Second Market bought 5800 coins yesterday, holding 101500 now.

There is a thread monitoring that fund: https://bitcointalk.org/index.php?topic=337486.0

It seems that the earliest investors, who joined in September, can now liquidate. The shares are nominally worth 0.1 BTC at the current BTC/USD price; so those investors paid ~13 USD/share and may liquidate now at ~45 USD/share, a nice profit.

On the other hand, investors who bought in late November paid up to 110 USD for shares that are now worth ~45 USD.  I suppose that they will be allowed to liquidate only in June; their gain or loss will be determined by the BTC price at that date.

From the table in that thread, I computed that the total money invested in the fund (minus the amount liquidated) must be now a few million USD more than the total nominal value of all extant shares (worth ~40 USD each as of yesterday).  If that computation is correct, the average gain among all investors, if they all liquidated today, would be a bit negative.  The averag loss of course will be larger if the BTC price falls further below 40 USD.

whats the difference to a ponzi scheme, if only the oldest incestors can liquidate??

[ShroomsKit]

Reallly contemplating buying back in now.  I will have gained about .5 BTC.  Can anyone more knowledgeable than I explain the news better than google translate?

"Bitcoin not banned in China. Old news. You sheep can find the next subject to panic over". Something like that.

[exponential]

Reallly contemplating buying back in now.  I will have gained about .5 BTC.  Can anyone more knowledgeable than I explain the news better than google translate?

"Bitcoin not banned in China. Old news. You sheep can find the next subject to panic over". Something like that.

Lol sounds about right    Thanks.

[chessnut]

BUMP. I have picked out every minor bottom, and every potential major bottom since 465. long from 355.

I have picked out every minor bottom, and every potential major bottom since 465. long from 355.

Chessnut 12 hours ago: "400 is in striking range, easy."
Price slides down to 340

EDIT. If this is correct, we are unlikely to pass 2100 today.

I made that Edit just minutes after that post. I nailed it today nano brain. shame on you.

PS Im a day trader, not a five minutes later trader. I went long at 355, meaning I thought themid term bottom was around 340. that was the low.

[chessnut]

you talking out your arse again chessnut....it was only last week you were trying to convince everyone that you knew we were on our way to $500 after going long at $450....every opinion you have expressed has been wrong.

I never said anything of the sort. It did not surprize me when we passed 400 at all. In fact I shorted at 440 after the news.

find one scrap of evidence that I was shure we were in a bull run. ONE SCRAP.

[Guinpen]

~26 hours ago when we first dipped down from 440 to 400 I was sleeping at the time (I'm in Europe), and I lost money by sleeping in BTC. Sold at 400 when I woke up and watched the fireworks. Last night I was up until 3am watching the price go down to 355, went to sleep for 4 hours in fiat, and woke up at 400.

What the fuck.

Am I just really unlucky or am I doing something wrong? Why do massive changes occur at roughly 3:00 am UTC? Am I missing something?

[gizmoh]

~26 hours ago when we first dipped down from 440 to 400 I was sleeping at the time (I'm in Europe), and I lost money by sleeping in BTC. Sold at 400 when I woke up. Last night I was up until 3am watching the price go down to 355, went to sleep for 4 hours in fiat, and woke up at 400.

What the fuck.

Am I just really unlucky or am I doing something wrong? Why do massive changes occur at roughly 3:00 am UTC? Am I missing something?

You are not alone bro..

[JorgeStolfi]

I am not happy as long as there is Chinese BS changing every day. I would be happiest if all Chinese exchanges were closed.

Well, we just had a small preview of what would happen to the price in that case.  (And their exchanges may still close by Apr/18, and the price may still go back to where it was aiming to.)

Isn't amazing how much damage they can do with volume that is 95% fake? 

[Pruden]

~26 hours ago when we first dipped down from 440 to 400 I was sleeping at the time (I'm in Europe), and I lost money by sleeping in BTC. Sold at 400 when I woke up. Last night I was up until 3am watching the price go down to 355, went to sleep for 4 hours in fiat, and woke up at 400.

What the fuck.

Am I just really unlucky or am I doing something wrong? Why do massive changes occur at roughly 3:00 am UTC? Am I missing something?

You are not alone bro..

Tell me about it. The Gox crash, the $50 fight a year ago... always at the wee hours of the day in Europe.

[bangersdad]

You're pretending to love it, so you could pretend confidence with the price going up. It's been like that for months, with the "most enthusiastic of the enthusiasts" always so certain that now is the time when the price will go up. It seems like they have bought very high, because they seem kind of desperate for the price to go up. I hope that they didn't loan money to buy bitcoins.

no, we genuinely LOVE it. do you know how sentiment works?

we are at a classic bottom. the worst news possible came the other day, yet the market couldnt carve out new lows.

the bears are spent. the worst is over.

Yes I have a leverage long position from 450 and Im not letting go.

oh deary me.  

so chessnut - you said you have called the correct bottom so far...so explain this post:

[lebing]

~26 hours ago when we first dipped down from 440 to 400 I was sleeping at the time (I'm in Europe), and I lost money by sleeping in BTC. Sold at 400 when I woke up and watched the fireworks. Last night I was up until 3am watching the price go down to 355, went to sleep for 4 hours in fiat, and woke up at 400.

What the fuck.

Am I just really unlucky or am I doing something wrong? Why do massive changes occur at roughly 3:00 am UTC? Am I missing something?

Yes, you are doing something wrong.

Solution: Trade on larger time frames.

Too much noise otherwise, especially in bitcoin. You wont just lose money, you will also lose your sleep and then your sanity.

[chessnut]

You're pretending to love it, so you could pretend confidence with the price going up. It's been like that for months, with the "most enthusiastic of the enthusiasts" always so certain that now is the time when the price will go up. It seems like they have bought very high, because they seem kind of desperate for the price to go up. I hope that they didn't loan money to buy bitcoins.

no, we genuinely LOVE it. do you know how sentiment works?

we are at a classic bottom. the worst news possible came the other day, yet the market couldnt carve out new lows.

the bears are spent. the worst is over.

Yes I have a leverage long position from 450 and Im not letting go.

oh deary me.  

so chessnut - you said you have called the correct bottom so far...so explain this post:

I never called the bottom in that post - cant you read?? I said the worst is over - of the bear market. and so it is.

[ChartBuddy]

Explanation

[JorgeStolfi]

whats the difference to a ponzi scheme, if only the oldest incestors can liquidate??

All should be able to liquidate, but only after 6 months.  That would not be a problem if the backing asset paid dividends or was expected to increase in value.  It is quite risky for bitcoin (but that was not so clear in September).  

The fund has some advantages over buying the bitcoins directly: the investor does not have to deal with the exchanges, nor worry about hackers stealing his coins; and he can use certain retirement funds that he cannot use to buy bitcoins with.  The main disadvantage is that the investor cannot sell the bitcoins during those 6 months, neither to profit from price spikes nor to cut losses in a downtrend.

EDIT: it also has the disadvantage of entry, exit, and maintenance fees.

The company that manages the fund makes a profit from those fees, whether the BTC price goes up or down. (They could make additional profit in other ways, some less honest than others.) The investors make a profit only if the price goes up between their entry and exit times.