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

[OldGeek]

So… it seems that the price is still hostage to the actions of traders on some questionable exchange. 

Are the arb bots, coordinated with the Chinese price, so powerful that we cannot avoid these price swings on the western exchanges?

Serious questions:
1.   Why do FUD and questionable rumors cause the price to plummet?   Fear?  What?
2.   What FUD, rumor, fact, would cause the price to rise?  Don’t answer ‘increased adoption’ because that hasn’t worked.
3.   Why aren’t the big players interested in buying large volumes when the price is in the 400-500 range?  An alternate question; where is all of this new money and why isn’t it bidding up the price?

Tldr;  wtf?

Disclosure:  Still holding, still mining.

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[Tyson95]

Looks like someone just made their escape and we might not see 470 idk

[windjc]

Looks like someone just made their escape and we might not see 470 idk

You are correct. But Houbi is going to wake up in a couple of hours and give us some nice green irrational candles and then everyone will jump on board to 480.

And then we will crash again.

[macsga]

Ridiculous. The only reason why most bitcoin crimes go unpunished and victims get no reparation is that bitcoin was appropriated by rabid "libertarians" who hate governments, law, regulations, and police.

The logical consequence of assuming that those things are evil is that "there are no criminals nor victims, only smart people and stupid people".

The invariable response of the "bitcoin community" to each new bitcoin scam or heist is "stupid victims, they should have blah blah blah."

Good to see you airing those "academic" prejudices a little more openly again, prof.  Have the high priests of the global Bitcoin conspiracy been getting to you again?

The reason that some crimes involving Bitcoin have gone unpunished is because governments and regulators are slow to catch on to new technology.  Now, what's the reason for the lack of prosecutions with regard to massive fiat scandals?  Oh yes, the institutions are "too big to fail" and the individuals involved apparently can't themselves be held accountable either.  So that's fair.

Bitcoin could be your saviour but you're so terrified of some of its libertarian fans somehow taking complete control of this massive open-to-all consensus-based network that you'd rather dedicate your time to saving the world from those dangerous imaginary cultists in the most bizarre and fruitless way possible - trolling this thread.

If you want to try and change Bitcoin's direction, stop pushing back and start looking forward.  

Where's the LIKE button??

[ShroomsKit]

The average trader: holy fucking shit! A Chinese article! This is bad bad bad! Omg China is selling omg omg omg what to doooooo omg i'm in total panic now. The price keeps going lower and lower! Ok selling my 2 coins i worked so hard for. I sold with a loss but i did the right thing because the Chinese sold as well.

Wait...hold on...omg omg omg China is buying omgggggg total panic now! What to do what to do! Omg the price keeps going up! Oh fuck fuck fuck! Ok i'm gonna buy! I bought 0.7 coin back but at least i'm safe now! China is buying and i own a little bit of coin.

Repeat.

[dreamspark]

Bids on BFX are offering parachutes for those who would like to get out.

There is some serious denial going on at Finex.

Denial of what? I'd call it denying the option to care about China like its the world BTC leader. It wont be long before there's not that many coins in China and no one will care anymore, it might just take a while but the order books on the Chinese exchanges are already looking thinner.

People said ah we cant go up off a bottom like that without a retrace and then are bewildered when it does retrace  

So are you calling the low 441? Because, once we get up to the 470s and 480s I'm going to short about 1500 btc.

Did I say that ?

I asked what they were in denial of as you seem to think there's some "serious denial" but without saying anything to back it up.

Short away post some proof when you do it.

Ok.

Brave.

Fair enough at least your not the usual sort of 'pro trader' we have around here throwing around claims of large trades, I hope it works out for you. Looks like we might not even reach there atm!

And also at least everyone knows that all the negativity to come will be you talking your book  

oh and I did mean some proof when you actually short not just that you places some orders.

[OldGeek]

....
Repeat.

I admire your consistency, Shroomsie.

[windjc]

Bids on BFX are offering parachutes for those who would like to get out.

There is some serious denial going on at Finex.

Denial of what? I'd call it denying the option to care about China like its the world BTC leader. It wont be long before there's not that many coins in China and no one will care anymore, it might just take a while but the order books on the Chinese exchanges are already looking thinner.

People said ah we cant go up off a bottom like that without a retrace and then are bewildered when it does retrace  

So are you calling the low 441? Because, once we get up to the 470s and 480s I'm going to short about 1500 btc.

Did I say that ?

I asked what they were in denial of as you seem to think there's some "serious denial" but without saying anything to back it up.

Short away post some proof when you do it.

Ok.

Brave.

Fair enough at least your not the usual sort of 'pro trader' we have around here throwing around claims of large trades, I hope it works out for you. Looks like we might not even reach there atm!

And also at least everyone knows that all the negativity to come will be you talking your book  

Look. I love bitcoin. I want it to go to 10k tomorrow (after I close my shorts ).

But, this news is bad and its going to haunt us till at least May 10th.

So, my position is only smart.

[OldGeek]

.....
And also at least everyone knows that all the negativity to come will be you talking your book  

I'm trying to remember more than three members, who post here regularly, who aren't talking their book.

[ShroomsKit]

....
Repeat.

I admire your consistency, Shroomsie.

Thanks?

[manfred]

One has to feel sorry for the Chinese getting shafted by the own Government and missing out on $ 5000 per bitcoin in a few months time.

[dreamspark]

Look. I love bitcoin. I want it to go to 10k tomorrow (after I close my shorts ).

But, this news is bad and its going to haunt us till at least May 10th.

So, my position is only smart.

Fair enough you gotta get those asks you posted filled before you can close em though

[JayJuanGee]

I would hate to say it, but I believe this price drop is due to the poll.
Please, Adam, stop posting polls with finite pricing. It would be more effective if the question was not a self-fulfilling prophecy.
The next poll should be very limited in information, and definitely not have specific price points that are obvious goals for some.

Yeah... right.  You really believe that this thread has any meaningful effect on BTC exchange prices?

[dreamspark]

.....
And also at least everyone knows that all the negativity to come will be you talking your book  

I'm trying to remember more than three members, who post here regularly, who aren't talking their book.

True in general, I post here a lot what do you think my position is then based on what I say, I'd be interested to see how right you are.

[OldGeek]

Thanks?

That was sincere.  

Your message doesn't get thru to many of the newbs who expect that their initial purchase was at the 'correct' (whatever that might mean) price.  Perhaps it is the effect of a nervous market.  

More likely it is the power of programmed buying and selling coupled with gamblers on an exchange with no fees.

You're welcome.

[OldGeek]

.....
And also at least everyone knows that all the negativity to come will be you talking your book  

I'm trying to remember more than three members, who post here regularly, who aren't talking their book.

True in general, I post here a lot what do you think my position is then based on what I say, I'd be interested to see how right you are.

TBH, I haven't paid much attention.  I tend to bet bored by the ad hom attacks and skip a lot of what I consider nonsense.  I'll go back a few tens of pages and try to determine your position.  Fair enough?

[Tyson95]

Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?

[roslinpl]

I would hate to say it, but I believe this price drop is due to the poll.
Please, Adam, stop posting polls with finite pricing. It would be more effective if the question was not a self-fulfilling prophecy.
The next poll should be very limited in information, and definitely not have specific price points that are obvious goals for some.

Yeah... right.  You really believe that this thread has any meaningful effect on BTC exchange prices?

IMO.  None.
But perhaps few members did panic sell after reading this thread :-)

[dreamspark]

.....
And also at least everyone knows that all the negativity to come will be you talking your book  

I'm trying to remember more than three members, who post here regularly, who aren't talking their book.

True in general, I post here a lot what do you think my position is then based on what I say, I'd be interested to see how right you are.

TBH, I haven't paid much attention.  I tend to bet bored by the ad hom attacks and skip a lot of what I consider nonsense.  I'll go back a few tens of pages and try to determine your position.  Fair enough?

You dont have to go back just click on my name and look at my latest posts. No need to waste space in this thread PM me what you reckon.

[JayJuanGee]

I would hate to say it, but I believe this price drop is due to the poll.
Please, Adam, stop posting polls with finite pricing. It would be more effective if the question was not a self-fulfilling prophecy.
The next poll should be very limited in information, and definitely not have specific price points that are obvious goals for some.

Yeah... right.  You really believe that this thread has any meaningful effect on BTC exchange prices?

IMO.  None.
But perhaps few members did panic sell after reading this thread :-)

Certainly, it is going to affect some people's decisions about whether to buy or sell and how much and when... but really, posters sometimes seem to give too much weight to the significance of their posts here.

I doubt that the real movers and/or shakers of the market and/or overall sentiment is affected greatly by this thread - even though this thread is one of the data points that may be used by some to measure market sentiments.