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

[rpietila]

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Perhaps I could, but it would not remain crashed for very long. Trying to buy the amount of coins that I have, in exchange or outside, is so very difficult that I prefer to keep mine, thank you

(I am still interested in buying minimum BTC100 at a time.)

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[jonoiv]

The BTC-e bot that has been causing market volatility btc-e "death" bot, has just shown up on Huobi and LTC. 

[jonoiv]

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Perhaps I could, but it would not remain crashed for very long. Trying to buy the amount of coins that I have, in exchange or outside, is so very difficult that I prefer to keep mine, thank you

(I am still interested in buying minimum BTC100 at a time.)

I can imagine, it must be very hard for you to trade..    I feel very sorry for you

[JayJuanGee]

Most obvious prediction is down to 2500 on huobi

Bears are washed out, the current selling is mainly profit taking.
We aren't going below 400 unless fresh Fud news from china comes in.

The bulls seem more washed out to me, I don't see many people buying at the moment.

some people are worried of being a 450 bag holder.  

I am more worried about the bag being on the train, while I am standing at the railway station platform trying to figure out how to get to the next train station so I can get on the train.

And there are plenty of people like you that feel the same.  

I think when we finally hit the bottom we will level out for a while.  I don't see a big bounce, followed by choo choo.  So for me at least there is a lot less risk in dollars or yuan.

All the gox, China, Australia news, does not go away overnight, and it's new investors that are needed. More bad news could be just around the corner.  Many personal investors with serious cash are older, and don't understand bitcoin, and are naturally more conservative.  Corporations, wouldn't touch bitcoin with a shitty stick right now, as it looks risky on price and it looks even riskier on regulation.  Lets face it, there is no good news for new investment.

I dont agree with your assessment of new investment being scared off of bitcoin.  They may be hesitant and unsure about whether they understand it.  Even avid and intelligent investors frequently claim NOT to understand the various intricacies of bitcoin, but they understand it enough to realize its innovative and added value to prior existing systems... and accordingly is worthy of investment.  As far as regulation, the regulation has been fairly neutral and somewhat positive in several arenas... legislators are grappling to understand bitcoin as well, and we are getting conflicting implementations, but in the end, regulation hostility is NOT as present as you are attempting to make it out to be. 

In essence it seems that at the moment bitcoin's natural floating value should be between about $750 and $850... but prices are being pushed down by FUD and various negative price pressures.  Those kinds of pressures can go on for a while, but bitcoin's natural price continues to go up with the building of the infrastructure.. and by the end of the year, it's maybe in the $1500 to $2000 arena.. though its actual price may be higher or lower depending on various pressures... whether we are getting downward manipulation or upward speculation...

[Richy_T]

Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.

Even moreso when the price isn't going up, I expect. As soon as the price starts edging up, that spigot closes down and it's Katy bar the door.

[JayJuanGee]

some people are worried of being a 450 bag holder.  

Okay, let's give it 100 days!


(Anyone who bought at 450 is not worried of anything. Some who entered at 1000 and doubled down at 600-800 may be, but they have already shed a lot of coins so after 100 days we should be at about 4000)

Haha, bulls feel the need to refute such accusations. When they don't refute, just ridicule, it's time to sell

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Bitcoin is great invention, it has great support but it's no where near main stream yet.  I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.  It's very very niche outside of our little world. 

I  have made some money from BTC but I could never recommend it to a friend or relative, because I couldn't live with myself if they lost a lot of cash as a result of my advice.

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

450 remains in my mind to high imho.

I dont believe you about having 100 miners on your team - because if you did and if you were in such circumstances, you would not be talking such shit. and spreading such FUD b/c it would neither be in your interest and it also would likely NOT even be within the thinking of someone who would put together such a team.. unless you happen to be working for someone else and undermining their business and not acting in their interest.  In other words, to me, you seem to be full of it.... and that's being charitable.

[edwardspitz]

Is it just me or has everything just gone VERY quiet on all exchanges?!

[podyx]

Is it just me or has everything just gone VERY quiet on all exchanges?!

Expect action in a few days

(HINT: it's upwards )

[rpietila]

I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.

I dont believe you about having 100 miners on your team

Luckily he did not claim so

[kurious]

Most obvious prediction is down to 2500 on huobi

Bears are washed out, the current selling is mainly profit taking.
We aren't going below 400 unless fresh Fud news from china comes in.

The bulls seem more washed out to me, I don't see many people buying at the moment.

some people are worried of being a 450 bag holder.  

I am more worried about the bag being on the train, while I am standing at the railway station platform trying to figure out how to get to the next train station so I can get on the train.

And there are plenty of people like you that feel the same.  

I think when we finally hit the bottom we will level out for a while.  I don't see a big bounce, followed by choo choo.  So for me at least there is a lot less risk in dollars or yuan.

All the gox, China, Australia news, does not go away overnight, and it's new investors that are needed. More bad news could be just around the corner.  Many personal investors with serious cash are older, and don't understand bitcoin, and are naturally more conservative.  Corporations, wouldn't touch bitcoin with a shitty stick right now, as it looks risky on price and it looks even riskier on regulation.  Lets face it, there is no good news for new investment.

 LOL. Can I quote you on that? What's App sold for $19 Billion dollars.  You don't think there aren't one or two VCs considering the possibility of cornering the market for the next rally? NONE??  10% of CoinBase and Blockain wallets holders could support this price level for less than $10 a day. By themselves. I have thousands of dollars waiting for bear suckers to dump so that I can take your coins. I'm pretty sure we can come up with money to buy longer than you can come up with coins to sell. The Fed is quantitatively easing ~ $50 Billion/month.

Maybe I'm wrong. We'll see.

Sounds to me you are gradually coming out of bear-mode, BJA.

If so - welcome back.

We have seen the lows, and it is a pitifully small drop from where we are to what are VERY cheap coins. Too cheap.

Yes - buy like a mofo if it dips again, it may be the last chance...  I increased my (not massive) holdings by 25% on Thursday in that dip and I am quietly rather pleased with myself.

There is not much that can take us down from here, and the upside has a hell of a lot more room in it.

If you feel different - you are right to:  If it was going to crash, the bears had their chance to drive it to 266 and maybe lower 48 hours ago.  There is not much fiat coming in, so we should be seeing carnage if Thursday was not the bottom.

But it didn't happen.  And it won't.  China has been priced in for weeks, Gox is gone.   All the other (ignored) news is actually very positive - more so than ever.  But most importantly the market thinks that 339 is too cheap.

It is being 'remembered' that coins are scarce and they are very cheap, in my humble opinion.  Sub 400 is a steal compared to what we we will see this summer.

Even under 450 is a safe buy compared to what is to come.

Like KFR said - people treat a day like it's a month on here, it's hilarious.  Sentiment sea changes have already come, don't short - BUY.

[keewee]

some people are worried of being a 450 bag holder.  

Okay, let's give it 100 days!


(Anyone who bought at 450 is not worried of anything. Some who entered at 1000 and doubled down at 600-800 may be, but they have already shed a lot of coins so after 100 days we should be at about 4000)

Haha, bulls feel the need to refute such accusations. When they don't refute, just ridicule, it's time to sell

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Bitcoin is great invention, it has great support but it's no where near main stream yet.  I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.  It's very very niche outside of our little world. 

I  have made some money from BTC but I could never recommend it to a friend or relative, because I couldn't live with myself if they lost a lot of cash as a result of my advice.

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

450 remains in my mind to high imho.

I dont believe you about having 100 miners on your team - because if you did and if you were in such circumstances, you would not be talking such shit. and spreading such FUD b/c it would neither be in your interest and it also would likely NOT even be within the thinking of someone who would put together such a team.. unless you happen to be working for someone else and undermining their business and not acting in their interest.  In other words, to me, you seem to be full of it.... and that's being charitable.

He didn't say he had 100 miners on his team. He said there are over 100 people at his work. Of these 100 geeks only 3 or 4 other than himself have mined bitcoin, a percentage that seems pretty reasonable

[Richy_T]

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

2013?

The fundamental reason was that it was simply too high.

[JayJuanGee]

I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.

I dont believe you about having 100 miners on your team

Luckily he did not claim so

Maybe I have to improve my reading skills... ...   ... I am still NOT planning to change my post b/c part of my point(s) remains that he is full of it, for a variety of other reasons... including the fact that even he is claiming to be a bitter miner since 2011... may be true, but seems to be like he got screwed somehow or made some serious mistakes and is NOT in touch with whatever caused him to get involved in the mining of BTC.  Maybe he overextended himself or saw that traders were doing better than miners b/c if a miner had saved some of his coins since 2011, he could have a pretty decent little stash... but if he over invested in mining equipment, then maybe he does NOT have any coins... .   He may want to explain the cause(s) for his bitterness that has caused him to not only be bearish but to make a variety of outlandish claims regarding the direction of bitcoin... to describe bitcoin in mostly negative terms..

[jonoiv]

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

2013?

The fundamental reason was that it was simply too high.

Well that's a technical reason. 

I'm talking about http://en.wikipedia.org/wiki/Fundamental_analysis.

[JayJuanGee]

some people are worried of being a 450 bag holder.  

Okay, let's give it 100 days!


(Anyone who bought at 450 is not worried of anything. Some who entered at 1000 and doubled down at 600-800 may be, but they have already shed a lot of coins so after 100 days we should be at about 4000)

Haha, bulls feel the need to refute such accusations. When they don't refute, just ridicule, it's time to sell

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Bitcoin is great invention, it has great support but it's no where near main stream yet.  I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.  It's very very niche outside of our little world. 

I  have made some money from BTC but I could never recommend it to a friend or relative, because I couldn't live with myself if they lost a lot of cash as a result of my advice.

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

450 remains in my mind to high imho.

I dont believe you about having 100 miners on your team - because if you did and if you were in such circumstances, you would not be talking such shit. and spreading such FUD b/c it would neither be in your interest and it also would likely NOT even be within the thinking of someone who would put together such a team.. unless you happen to be working for someone else and undermining their business and not acting in their interest.  In other words, to me, you seem to be full of it.... and that's being charitable.

He didn't say he had 100 miners on his team. He said there are over 100 people at his work. Of these 100 geeks only 3 or 4 other than himself have mined bitcoin, a percentage that seems pretty reasonable

Thanks I stand corrected, and you are correct that 3-4 out of 100 may be in the ballpark of the tech industry.   I have quite a few tech oriented friends, who I thought naturally would know about bitcoin or be invested in such.. a few claim to know about it.. and so far, each have claimed NOT to be invested in bitcoin when I asked.

[podyx]

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

2013?

The fundamental reason was that it was simply too high.

Well, mt.gox helped crash it by lagging out

Maybe it would go higher if it wasn't for that, maybe not... Maybe go fuck yourself

[JayJuanGee]

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

2013?

The fundamental reason was that it was simply too high.

Well, mt.gox helped crash it by lagging out

Maybe it would go higher if it wasn't for that, maybe not... Maybe go fuck yourself

he he he.. i sense some built up tension in the air.. two quasi-bulls going at it about trivial matters.. we must be nearing a bottom..  

[ChartBuddy]

Explanation

[podyx]

he he he.. i sense some built up tension in the air.. two quasi-bulls going at it about trivial matters.. we must be nearing a bottom..  

Nah, I was gonna say 'maybe, maybe not' and thought I might aswell throw in this line
https://www.youtube.com/watch?v=yJj3mERrEgA
 

[billyjoeallen]

Most obvious prediction is down to 2500 on huobi

Bears are washed out, the current selling is mainly profit taking.
We aren't going below 400 unless fresh Fud news from china comes in.

The bulls seem more washed out to me, I don't see many people buying at the moment.

some people are worried of being a 450 bag holder.  

I am more worried about the bag being on the train, while I am standing at the railway station platform trying to figure out how to get to the next train station so I can get on the train.

And there are plenty of people like you that feel the same.  

I think when we finally hit the bottom we will level out for a while.  I don't see a big bounce, followed by choo choo.  So for me at least there is a lot less risk in dollars or yuan.

All the gox, China, Australia news, does not go away overnight, and it's new investors that are needed. More bad news could be just around the corner.  Many personal investors with serious cash are older, and don't understand bitcoin, and are naturally more conservative.  Corporations, wouldn't touch bitcoin with a shitty stick right now, as it looks risky on price and it looks even riskier on regulation.  Lets face it, there is no good news for new investment.

 LOL. Can I quote you on that? What's App sold for $19 Billion dollars.  You don't think there aren't one or two VCs considering the possibility of cornering the market for the next rally? NONE??  10% of CoinBase and Blockain wallets holders could support this price level for less than $10 a day. By themselves. I have thousands of dollars waiting for bear suckers to dump so that I can take your coins. I'm pretty sure we can come up with money to buy longer than you can come up with coins to sell. The Fed is quantitatively easing ~ $50 Billion/month.

Maybe I'm wrong. We'll see.

Sounds to me you are gradually coming out of bear-mode, BJA.

If so - welcome back.

We have seen the lows, and it is a pitifully small drop from where we are to what are VERY cheap coins. Too cheap.

Yes - buy like a mofo if it dips again, it may be the last chance...  I increased my (not massive) holdings by 25% on Thursday in that dip and I am quietly rather pleased with myself.

There is not much that can take us down from here, and the upside has a hell of a lot more room in it.

If you feel different - you are right to:  If it was going to crash, the bears had their chance to drive it to 266 and maybe lower 48 hours ago.  There is not much fiat coming in, so we should be seeing carnage if Thursday was not the bottom.

But it didn't happen.  And it won't.  China has been priced in for weeks, Gox is gone.   All the other (ignored) news is actually very positive - more so than ever.  But most importantly the market thinks that 339 is too cheap.

It is being 'remembered' that coins are scarce and they are very cheap, in my humble opinion.  Sub 400 is a steal compared to what we we will see this summer.

Even under 450 is a safe buy compared to what is to come.

Like KFR said - people treat a day like it's a month on here, it's hilarious.  Sentiment sea changes have already come, don't short - BUY.

Yeah, I snuck back in at $417 when nobody was looking.