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

[ChartBuddy]

Explanation

[lemonte]

Both of those notices are 24 hours old, they caused yesterday's dip, not today's.

[edwardspitz]

Where are links to scary chiniese articles, i think its time

See my previous post.  The time of the OKCoin notice apparently coincides with the start of the current dump.

It may be that the Chinese exchange CEOs have karpeled a little; they may have known what was coming but waited until the last minute to tell their clients.

I am not sure, but the OKCoin note may be saying that further notices will be shown only to logged-in clients "in order not to affect the normal market conditions".

The Huobi note link is in red, next to a red light bulb, near yhe top of their homepage.  The OKCoin is in red too, next to a loudspeaker icon.  Further notes mat be accessed perhaps by fiddling with the URLs. (Huobi's note 325 is some Western press news, 326 does not exist yet.)

I am not sure, but the OKCoin note may be saying that further notices will be shown only to logged-in clients "in order not to affect the normal market conditions".

Yes, that is just crazy. Now we will see the price drop, but we will no longer be able to judge why. More FUD.

[lemonte]

My opinion Is Yes, Some Chinese people are cutting their losses and leaving, however I also think there's a degree of the drop Is people knowing that volume will be low because of Easter/bank holidays and taking advantage of this.

Also, like I've mentioned before, these news stories are still doing the rounds, just look at Social media. It'll take a few days for those to be forgotten about. Sentiment in the West seems to be picking up a bit, look at the surveys on here and Reddit, both indicative of a bullish, bit realistic sentiment.

I'm making no predictions, A./ my TA is shit, B./ I've just polished off my second glass of wine, but I do know that this weekend is a write off.

[spooderman]

so far I was spot on with my "475" prediction.

2 more days and I'm a prophet

[0x3d]

I'll just leave this here for all of those who miss Clarkmoody's BingBong sounds:
http://bitcoinsounds.0x3d.lu/

This started out as a little dirty hack for myself but as Bitcoin is quite boring today I polished it a little and so with this post consider it as released!

Update @ 23/04/2014: Made some improvements in the tool

[rjp55]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

[JorgeStolfi]

Both of those notices are 24 hours old, they caused yesterday's dip, not today's.

The OKCoin one is dated TODAY 12:29 UTC, exactly when the last large  drop (~3050 --> ~2950) started.
The Huobi one is from yesterday 09:30 UTC, when the previous large drop (~3150 --> ~3050) started.

In both cases there may have been a bit of "insider trading".

[JorgeStolfi]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

Indeed, my theory for the gradual decline in the price since Feb/06 is basically that: Chinese traders who experience a few losses in a row are selling their coins (since they are not very useful in China) and taking their money out; and not enough new clients are joining, so that there is not enough new money coming in.

Additionally, some Chinese miners who need Yuan may be selling at the exchanges, adding coins and taking yuan out.

[ShroomsKit]

Not feeling it, i think people who expect its to go below 400 again will get burned

Why the hell would it go below 400? I can't find a single reason for that.

[RobFordWotWot]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

Indeed, my theory for the gradual decline in the price since Feb/06 is basically that: Chinese traders who experience a few losses in a row are selling their coins (since they are not very useful in China) and taking their money out; and not enough new clients are joining, so that there is not enough new money coming in.

Additionally, some Chinese miners who need Yuan may be selling at the exchanges, adding coins and taking yuan out.

Das Racist

[ShroomsKit]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

At least half the bears here. And then also a good bunch of the trolls.

[JorgeStolfi]

Chinese traders who experience a few losses in a row are selling their coins (since they are not very useful in China)

Das Racist

Sorry for not being clear, I meant that TRADERS are not very useful, not the CHINESE traders.    

[ChartBuddy]

Explanation

[Drabla]

I'll just leave this here for all of those who miss Clarkmoody's BingBong sounds:
http://bitcoinsounds.0x3d.lu/

This started out as a little dirty hack for myself but as Bitcoin is quite boring today I polished it a little and so with this post consider it as released!

Freakin' sweet

Could you at some minimal/soft ding / pulse sounds so i can leave the page open at the office ?

[pjviitas]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

duh...ya...thats been everybody on here at one time or another.  Its part of the learning curve.

[BitChick]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

duh...ya...thats been everybody on here at one time or another.  Its part of the learning curve.

Everyone?  If you don't trade you can't short and get burned.  This is why holding is always a great option! 

Hubby and I have just been buying and holding for a little over a year now.

[pjviitas]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

duh...ya...thats been everybody on here at one time or another.  Its part of the learning curve.

Everyone?  If you don't trade you can't short and get burned.  This is why holding is always a great option! 

Hubby and I have just been buying and holding for a little over a year now.

I am not talking about holders...I am talking about people that actually care about the day to day price of bitcoin

[Post-Cosmic]

Yea okay, looks like its 460 minimum, and most likely testing 440 and below

Noo.. I'm short, but I'm def out @ 450-460's.. dat huge support range for an 'eternity' during early Apr., & again for 1 day on 4/14.. b4 we had our run-up to 495 Stamp..? Gonna be hard to break thru that, all the way from 548 already, just b/c of old news that the 18th(done), 20th(..right? but..it's a sunday.. what a weird deadline/closure date.. ), 21st(?!?), 24th(>?!) are [supposed-to-be-] known btc-xchange bank acct closing times.

Of course there's always some freakish Unicredit failure minute-chance nightmare scenario, but we can't count on that, & as for those lollygagging aussie bankers coming up w/ their apparent May 2nd btc-related-bank-acct-closure deadline as well, that's far enough from now that it's reasonably safe to long or buy from 450's & wait to see if it can pierce through ~548, or if it's time to exit out the airlock, on the next launch attempt before Australia bankers open their foul mouths next month.

Huobi dump 3 days straight same time, why?

I wish we would stop caring.

You can. You don't trade.

But traders have to care. Or be stupid not to. Until & unless China's somehow fully driven offshore/underground.

Second: I do NOT know what you mean by Exemplary lesson.

Oh! Wel, well, well...  

It is decided, then.

In order to avoid collateral damage to innocent readers, I will deliver the Exemplary Lesson to @JayJuanGee by private message.  If he never shows up again in this forum, you will all know why.  If he survives (and I sincerely hope that he will), perhaps he will recover enough to tell you all how bad it was.  In either case, all the other sinners out there will have a chance to repent.

LMAO!!!!!! Ohh I just had a grand realization - that notorious 'Final Lesson' Jorge has been warning us about in ominous terms since months now must be a candid pic of his decrepifying behind scantily clad in a hula skirt while doing a literal round of the 'spinning' he'd always been accused of doing here - a sight sure to indeed leave even most internet-hardened veterans scarred for life  Prof., you must show mercy ahahaa

[..]

I found it to just be a continuation of the same thing that I had been accusing him.. non-responsive to my concerns about his intentionally spreading misinformation here.  Probably, we should NOT be calling him professor b/c that gives way too much credence to him and many of his non-sense posts...

[..]

Nahh, we may yet title him 'Prof.' merely as a tongue-in-cheek address in much the same way one humors a disheveled old homeless street joker in the Brooklyn subway  

(Sorry Jorge I don't intend to be so mean - it's just teasing you is so irresistible  ;p)

[BitChick]

I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.

duh...ya...thats been everybody on here at one time or another.  Its part of the learning curve.

Everyone?  If you don't trade you can't short and get burned.  This is why holding is always a great option! 

Hubby and I have just been buying and holding for a little over a year now.

I am not talking about holders...I am talking about people that actually care about the day to day price of bitcoin

As a "holder" I still totally care about the day to day price!