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

[S3052]

dont wanna jump the gun, but after a stagnant day, some bidding is kicking off this reading, gutsy buying near 480 is paying off. Hopefully wave V takes us to 580-600 in the coming days.

Not only buy zone, but most likely the last time you will get coins for this low price.

there are a few other bitcoin forecast charts who give different conclusions...

[chessnut]

there are a few other bitcoin forecast charts who give different conclusions...

well I have factored in two bear situations there, but I am a bull.

what are the other conclusions? 266 retest?

[chessnut]

there are a few other bitcoin forecast charts who give different conclusions...

well I have factored in two bear situations there, but I am a bull.

what are the other conclusions? 266 retest?

Subscribe to find out!

lol...

[ChartBuddy]

Explanation

[billyjoeallen]

I know a lot of readers and traders are sick of talking about China, and that is understandable, but the simple fact is they are relevant until they are not.

Further research into the macroeconomy of the PRoC indicates that key officials actually do understand the inherent dangers of rampant credit growth and misdirected capital (what we Austrian economists call "malinvestment").  They appear to be attempting a "soft landing", meaning they are actually tightening credit in order to attempt to control the economic contraction that everybody sees coming. They are probably not going to tighten enough, because the danger of a catastrophic crash is too great if they over do it, but that is by no means certain. These are smart people faced with the impossible task of figuring out just how much liquidity the market needs.

How ironic that even here in Bitcoin, investment strategy is still so heavily dependent on front-running policy decisions by central banks.

What this means for Bitcoin is that there is unlikely to be much growth in China of new users, at least not enough to matter much in the next few months. That does not mean that existing investors and speculators won't increase their bitcoin purchases if they are able to, and conditions seem to warrant. There also remains a non-zero probability of a major Chinese liquidity event, such as the closure of a large exchange, even more hostile policy, policy interpretation or enforcement from thePBoC or the State.

[JayJuanGee]

I know a lot of readers and traders are sick of talking about China, and that is understandable, but the simple fact is they are relevant until they are not.

Further research into the macroeconomy of the PRoC indicates that key officials actually do understand the inherent dangers of rampant credit growth and misdirected capital (what we Austrian economists call "malinvestment").  They appear to be attempting a "soft landing", meaning they are actually tightening credit in order to attempt to control the economic contraction that everybody sees coming. They are probably not going to tighten enough, because the danger of a catastrophic crash is too great if they over do it, but that is by no means certain. These are smart people faced with the impossible task of figuring out just how much liquidity the market needs.

How ironic that even here in Bitcoin, investment strategy is still so heavily dependent on front-running policy decisions by central banks.

What this means for Bitcoin is that there is unlikely to be much growth in China of new users, at least not enough to matter much in the next few months. That does not mean that existing investors and speculators won't increase their bitcoin purchases if they are able to, and conditions seem to warrant. There also remains a non-zero probability of a major Chinese liquidity event, such as the closure of a large exchange, even more hostile policy, policy interpretation or enforcement from thePBoC or the State.

I though that some exchanges already talked about moving out of china... like to hong kong ?  or was that just rumors?  and really moving would NOT necessarily solve the china issue for customers in china.. .. just would allow the exchange to keep operating from its new location.

[Hen0xyd]

"A wild 800btc buy wall appears @499 on bitstamp". Waiting for the "Wow, that's effective" ^^

Edit : nevermind, it disappeared, but I don't know if pulled off or eaten.

[chessnut]

"A wild 800btc buy wall appears @499 on bitstamp". Waiting for the "Wow, that's effective" ^^

Edit : nevermind, it disappeared, but I don't know if pulled off or eaten.

huh? did you actually see a wall?

[Tyson95]

Huobi dump 3 days straight same time, why?

[dzonikg28]

how many times did i read china in last monht  ..i am geting tired off this ..

[TERA]

Huobi dump 3 days straight same time, why?

The Chinese are very organized and methodical.

[cech4204a]

how many times did i read china in last monht  ..i am geting tired off this ..

i even got some fears from them

[ChartBuddy]

Explanation

[darklight]

Huobi dump 3 days straight same time, why?

Lets see if any 'news' shows up in the next few hours...

[ShroomsKit]

Huobi dump 3 days straight same time, why?

I wish we would stop caring.

[billyjoeallen]

I know a lot of readers and traders are sick of talking about China, and that is understandable, but the simple fact is they are relevant until they are not.

Further research into the macroeconomy of the PRoC indicates that key officials actually do understand the inherent dangers of rampant credit growth and misdirected capital (what we Austrian economists call "malinvestment").  They appear to be attempting a "soft landing", meaning they are actually tightening credit in order to attempt to control the economic contraction that everybody sees coming. They are probably not going to tighten enough, because the danger of a catastrophic crash is too great if they over do it, but that is by no means certain. These are smart people faced with the impossible task of figuring out just how much liquidity the market needs.

How ironic that even here in Bitcoin, investment strategy is still so heavily dependent on front-running policy decisions by central banks.

What this means for Bitcoin is that there is unlikely to be much growth in China of new users, at least not enough to matter much in the next few months. That does not mean that existing investors and speculators won't increase their bitcoin purchases if they are able to, and conditions seem to warrant. There also remains a non-zero probability of a major Chinese liquidity event, such as the closure of a large exchange, even more hostile policy, policy interpretation or enforcement from thePBoC or the State.

I though that some exchanges already talked about moving out of china... like to hong kong ?  or was that just rumors?  and really moving would NOT necessarily solve the china issue for customers in china.. .. just would allow the exchange to keep operating from its new location.

They did talk about moving, but we should know by now that we just can't trust Chinese exchanges and should be wary of all exchanges. Doesn't mean they are lying. It means they are untrustworthy. It means we can't be sure of a bull market until after it's already happened or until the Chinese are out of the picture. It sucks.

[magicmexican]

Looking weak, think its going below 3000 today

[billyjoeallen]

Huobi dump 3 days straight same time, why?

I wish we would stop caring.

I wish we would too, but I can't stop caring until everybody else does or until coins are so damn cheap I can afford to buy and sit on them for years.

[edwardspitz]

Looking weak, think its going below 3000 today

When you say it looks weak do you mean the markets response to the dump?

[billyjoeallen]

Huobi dump 3 days straight same time, why?

The Chinese are very organized and methodical.

and smart. don't forget smart. I think there are Chinese sharks eating Chinese suckers are we are all just along for the ride or collateral damage. Something is rotten in China and I don't know what it is and probably won't know until the damage is already done.

Meet the new Gox, same as the old Gox.