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

[windjc]

It's very difficult to remain rational when the price is moving significantly. Those who can do this will be the most profitable traders.

... yes you should short, it seems the rational thing to do right now ... put it all on red and go short please.

Actually you are about 1000x more right than you realize.

[Todorius]

nmc made people rich just now.

I wouldn't say only namecoin. The alts in general seem to experience a pretty nice surge now.

[TERA]

It's very difficult to remain rational when the price is moving significantly. Those who can do this will be the most profitable traders.

... yes you should short, it seems the rational thing to do right now ... put it all on red and go short please.

This is not selling time, or buying time. It is do nothing time.

[jonoiv]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

All ideas and opinions here are just that.  No one can or shuld pretend to be able to give you the answers. At the moment there are some bulls that think we will be over 700 in a few short days / weeks.  Like wise there are bulls that see 300 as coming up soon.

[windjc]

It's very difficult to remain rational when the price is moving significantly. Those who can do this will be the most profitable traders.

... yes you should short, it seems the rational thing to do right now ... put it all on red and go short please.

This is not selling time, or buying time. It is do nothing time.

You are still long I believe.

[rpietila]

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

evidence please. prove there is no fresh fiat. order books are growing every day.

windjc and others haven't probably considered the effect that Gox and other exchanges' fall has had on the market landscape:

- It has made people wary on sending fiat to exchange, yes (this is the visible effect).
- But it has also made them search for and use the alternatives (this is the invisible effect).

Lots of trade is happening in services like Bittiraha.fi, who make markets locally (and local = Europe in this case). Judging the volume from exchange data is hilarious. Equally hilarious is the day when the positive balance of the local market-making hits the exchanges. That demand is in the form of market orders.

I for one think that the exchanges are a drag on Bitcoin's longer-term health (and have been on this line since $50). Consequently, I think that the development that people don't trust the exchanges any more is good.

Why I try to exhort people buy now is that you deserve it (after so much pain and misinformation)! Reading this thread only and following the prevalent mood would have made you buy at $1000 and sell at $400, but the reverse is how you make money.

[TERA]

It's very difficult to remain rational when the price is moving significantly. Those who can do this will be the most profitable traders.

... yes you should short, it seems the rational thing to do right now ... put it all on red and go short please.

This is not selling time, or buying time. It is do nothing time.

You are still long I believe.

Correct. I even added at one point today.

[dreamspark]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

I feel for you man, but just reading around you should know rule 101 is dont listen to others about your investment decisions.

Take it as a lesson learnt, you clearly didnt get into BTC for the right reasons firstly but take the standard investment advice of;

Dont risk more than your willing to loose
Never go all in
Never go all out
Dont listen to people on the internet.

[chessnut]

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

evidence please. prove there is no fresh fiat. order books are growing every day.

windjc and others haven't probably considered the effect that Gox and other exchanges' fall has had on the market landscape:

- It has made people wary on sending fiat to exchange, yes (this is the visible effect).
- But it has also made them search for and use the alternatives (this is the invisible effect).

Lots of trade is happening in services like Bittiraha.fi, who make markets locally (and local = Europe in this case). Judging the volume from exchange data is hilarious. Equally hilarious is the day when the positive balance of the local market-making hits the exchanges. That demand is in the form of market orders.

I for one think that the exchanges are a drag on Bitcoin's longer-term health (and have been on this line since $50). Consequently, I think that the development that people don't trust the exchanges any more is good.

Why I try to exhort people buy now is that you deserve it (after so much pain and misinformation)! Reading this thread only and following the prevalent mood would have made you buy at $1000 and sell at $400, but the reverse is how you make money.

Thanks Risto.
so while fresh fiat may not be entering, do you think there may be a surprise shortage of bitcoins to satisfy margin calls? (due to accumulation off exchanges - the invisible effect)

[ShroomsKit_Disgrace]

500$ Anyone??? 

[JayJuanGee]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

You already did the wrong thing by going all in or all out.. in my thinking. 

You have to chose what to do based on your own risk profile and goals and diversification with other investments.

Even if you buy all back in now, there is no guarantee that the price is gonna continue to go up and you may lose again.  I started buying at $1200 and my average buy in price is $613-ish including fees.  Sure I am still in the red, and  I have more fiat to buy more.. but at times I have felt very stretched.. so I am glad that the market is finally going back up... but still NO guarantees with any of this.

I would begin a more sensible strategy that works for you and that you do NOT engage in panic buying or panic selling.. your strategy may differ from mine, but you need to find the one that works for you.

[elg]

500 @ stamp

[Todorius]

500 !!! Woooohooooo !!!!

[FNG]

Nice to see Stamp taking the lead

[dreamspark]

So whats the official trendline break target? I thought it was around ~$480-$490?

[mooncake]

Boom!!!

[Searing]

500$ Anyone??? 

go baby go

daddy needs a new ASIC (yeah with diff going up like that is gonna happen)

dare to dream

Searing

[rpietila]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

Buy back.

Stop reading news.

Stop caring about price.

*Have your friend call you if and only if Bitcoin experiences a sell signal (0.4 log units above trendline).

Live your life.

Wait for the call.

When it comes, check if selling max 50% of your bitcoins is enough to retire.

If yes, sell them. If no, take 20% out as profits and buy something nice.

Go to *.

[dreamspark]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

Buy back.

Stop reading news.

Stop caring about price.

*Have your friend call you if and only if Bitcoin experiences a sell signal (0.4 log units above trendline).

Live your life.

Wait for the call.

When it comes, check if selling max 50% of your bitcoins is enough to retire.

If yes, sell them. If no, take 20% out as profits and buy something nice.

Go to *.

Lucky you, that consultation was free of charge 

[podyx]

$500