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

[F-bernanke]

Whats happening?

[Threebits]

I heard that the distribution of "unknown" mining pools has increased to current 30% from last Dec. 5%  Is this true?

Could the increase be from China, with some political power, as rumored?

I agree China sets the price. But who of the Chinese set the price?  Chinese capitalist who have back doors with PBOC? Or those school teenagers who are active in Chinese bitcoin forums?

[windjc]

Does anyone else get the feeling that these buys on Houbi are coordinated in some way?  They come at practically the same time everyday. They come with TOTAL disregard for getting the best price.

Its like the wait until the market falls to prearranged price - in this last case 3200 - and then they just buy it up to 3300+ in minutes with no regard for what they pay.

It makes no logical trading sense. It was like this to a grander scale during the November rally. But that was a little more explicable. This is just strange.

[Newfeeling]

I heard that the distribution of "unknown" mining pools has increased to current 30% from last Dec. 5%  Is this true?

Could the increase be from China, with some political power, as rumored?

I agree China sets the price. But who of the Chinese set the price?  Chinese capitalist who have back doors with PBOC? Or those school teenagers who are active in Chinese bitcoin forums?

Dons extremely tin foil gilded head armor

Thine chinese are using ASICs from thine cheap electronics production!

[Bitcoin_is_here_to_stay]

Does anyone else get the feeling that these buys on Houbi are coordinated in some way?  They come at practically the same time everyday. They come with TOTAL disregard for getting the best price.

Its like the wait until the market falls to prearranged price - in this last case 3200 - and then they just buy it up to 3300+ in minutes with no regard for what they pay.

It makes no logical trading sense. It was like this to a grander scale during the November rally. But that was a little more explicable. This is just strange.

I agree that it does look strange. Can it be rather primitive trading bot? Triggered at certain levels?

[windjc]

Does anyone else get the feeling that these buys on Houbi are coordinated in some way?  They come at practically the same time everyday. They come with TOTAL disregard for getting the best price.

Its like the wait until the market falls to prearranged price - in this last case 3200 - and then they just buy it up to 3300+ in minutes with no regard for what they pay.

It makes no logical trading sense. It was like this to a grander scale during the November rally. But that was a little more explicable. This is just strange.

I agree that it does look strange. Can it be rather primitive trading bot? Triggered at certain levels?

I assume its some sort of cultural behavior. Its like they have no regard for the safety of trading. Its just reckless abandon.

[akujin]

I think most of the people pushing the price up are those early bitcoin holders..
When I started trading bitcoin around early February, users at btce are around 7k and 10k when the market is volatile.. But now, there are just 2.5k users and up to 4k when the market is volatile..  

[silverfuture]

You can stretch them again , use a different time period , change the colors , but no way you can get those too match.

I really don;t understand why people have this need of matching current events with previous ones in order to "see' the future.

Looking at all time log charts on MtGox and also last 2 year log charts on Bitstamp. You don't see a pattern there? You don't see how the past may indicate the future? Really?

[chessnut]

yes bear trap, could be a good one.

right, here is the wedge I was looking for. Lets see! I will be trading this breakout (if), looking for 580.

[JorgeStolfi]

Does anyone else get the feeling that these buys on Houbi are coordinated in some way?  They come at practically the same time everyday. They come with TOTAL disregard for getting the best price.   Its like the wait until the market falls to prearranged price - in this last case 3200 - and then they just buy it up to 3300+ in minutes with no regard for what they pay.

Indeed there have been "mini-rallies" at about about 01:30 pm local time on Apr/14, Apr/15, and today Apr/17.

It could be that someone with lots of money but not much experience finished his lunch quickly and used the rest of their lunch break to check the bitcoin price. Seeing that it was up from the previous day, he bought more, one chunk at a time, until the price went up to what he thought was too high..

It could also be bullish news or comments being posted daily at lunch time on some Chinese blog, which is read by only a few traders.

[Bitcoin_is_here_to_stay]

Huobi acting completely crazy atm! Looks like whoever was pumping, mostly lost the money ...

[ChartBuddy]

Explanation

[Bitcoin_is_here_to_stay]

Does anyone else get the feeling that these buys on Houbi are coordinated in some way?  They come at practically the same time everyday. They come with TOTAL disregard for getting the best price.   Its like the wait until the market falls to prearranged price - in this last case 3200 - and then they just buy it up to 3300+ in minutes with no regard for what they pay.

Indeed there have been "mini-rallies" at about about 01:30 pm local time on Apr/14, Apr/15, and today Apr/17.

It could be that someone with lots of money but not much experience finished his lunch quickly and used the rest of their lunch break to check the bitcoin price. Seeing that it was up from the previous day, he bought more, one chunk at a time, until the price went up to what he thought was too high..

It could also be bullish news or comments being posted daily at lunch time on some Chinese blog, which is read by only a few traders.

Atm, we have huge moves on Huobi in opposite directions - looks like some (rogue?) bots to me

[mooncake]

Will the lines cross?



If yes, we need to buy in now in anticipation of the huge rally.

[JorgeStolfi]

The rally could be due to this notice just posted to Huobi:

关于火币网恢复点卡充值方式的通知
时间 ：2014-04-17 13:10:09 来源： 火币网
尊敬的火币网用户：
    为了解决非工作时间充值到账较慢的问题，火币网经过和点卡代理商协商后，我们将于今日17：00恢复点卡充值服务，支持所有主流银行充值，7*24小时即时到账。欢迎各位币友体验。
    火币网运营部
    2014.04.17

Notice on Huobi.com TOPUP recovery mode
Time :2014-04-17 13:10:09 Source: Huobi.com
Dear Huobi.com network users:
     In order to solve the non-working hours recharge slower Daozhang problems after the Huobi and cards dealer network through negotiation, we will resume today 17:00 TOPUP services, supports all major banks recharge, 7 * 24 hours immediately to the account. Friends welcome you to experience the coins.
     Huobi.com Operations
     2014.04.17

(Google Translate, with "Fire currency/coin net" --> Huobi.com")

[akujin]

Huobi acting completely crazy atm! Looks like whoever was pumping, mostly lost the money ...

Or maybe their coins are really at other exchanges outside china waiting for other people to buy it 
Then chinese exchanges pretending there was a pump then other exchanges follow and their coins get bought 

[Tyson95]

The rally could be due to this notice just posted to Huobi:

关于火币网恢复点卡充值方式的通知
时间 ：2014-04-17 13:10:09 来源： 火币网
尊敬的火币网用户：
    为了解决非工作时间充值到账较慢的问题，火币网经过和点卡代理商协商后，我们将于今日17：00恢复点卡充值服务，支持所有主流银行充值，7*24小时即时到账。欢迎各位币友体验。
    火币网运营部
    2014.04.17

Notice on Huobi.com TOPUP recovery mode
Time :2014-04-17 13:10:09 Source: Huobi.com
Dear Huobi.com network users:
     In order to solve the non-working hours recharge slower Daozhang problems after the Huobi and cards dealer network through negotiation, we will resume today 17:00 TOPUP services, supports all major banks recharge, 7 * 24 hours immediately to the account. Friends welcome you to experience the coins.
     Huobi.com Operations
     2014.04.17

(Google Translate, with "Fire currency/coin net" --> Huobi.com")

Hmmm looks like they're saying its banned, time to sell all my bitcoins.

[maximum]

i dont know if the price will rise further.
its thursday aka traditional dumping day and there is a 4 day weekend with no incoming bank transfers in front of us.

[ShroomsKit]

Will the lines cross?



If yes, we need to buy in now in anticipation of the huge rally.

Ah yes, because 2 lines cross we all must buy in.
If they cross are you selling your house, taking a loan, to go all in?

[JorgeStolfi]

OKCoin seems to be inviting everybody to some open house party on April 19, to among other things, "Understand the overall situation and development trend of Bitcoin industry":
https://www.okcoin.com/t-1008403.html
Who/what is a/the "bitcoin goddess" (比特币女神)?  (Could THAT be the secret of their huge volume?  )

EDIT: Well, the West has Bitcoin Jesus, so there is no reason to despair yet.