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

[Bitcoin_is_here_to_stay]

What's the reason for dip now then?? -_-

Zoom out your chart to W1, 3D, or 1D scale, and maybe you'll see why a drop is due. I think someone forgot to release the 'news' that was supposed to go with the drop but it's happening anyway because of the trend.

Lol. I think you are actually right.

You think we have not reached the bottom yet?

[adamstgBit]

we are ignoring China

Struthio niloticus
Ostrich of the Nile
A voluminous bird claimed
not to exist in China

Source: Wikimedia Commons, gimp

china has been banning bitcoin for 6 months now

when they first did it the price drop a lot.

by the 100th they banned bitcoin price went up

everyone that was gonna sell because china banned bitcoin ( including chinese poeple ) have already sold.

china has been priced out.

your the one with his head in the sand because you refuse to acknowledge your need to own bitcoin.

[dreamspark]

Is it not really strange that the next "China deadline" is supposed to be on a saturday?

[knarzo]

Is it not really strange that the next "China deadline" is supposed to be on a saturday?

Maybe related to this event? --> https://bitcointalk.org/index.php?topic=591978.0

[adamstgBit]

Is it not really strange that the next "China deadline" is supposed to be on a saturday?

omfg china

just block ports 1-999999999999999999999 and be done with it.

[Hunyadi]

What's the reason for dip now then?? -_-

Zoom out your chart to W1, 3D, or 1D scale, and maybe you'll see why a drop is due. I think someone forgot to release the 'news' that was supposed to go with the drop but it's happening anyway because of the trend.

I don't think we are going to drop significantly anymore. Your magic graphs don't tell everything, even though bitcoin is highly manipulated. Black wallet, black market, p2p-exchanges will make bitcoin stronger than ever. Maybe they scare some investors but I thing bitcoin can't rely on regulators good will.

[JorgeStolfi]

ineed? Is it even (still?) possible to get RMB out of China and convert it to USD?
If not, then there is no point in mirroring huobi.

In my understanding, arbitrage in both directions is still possible in the current situation, as long as arbitragers have a RMB reserve inside the Chinese exchanges or some means of depositing money there.  Since the exchange owners could be arbitragers, this will probably be the case until the end. 

Arbitrage will be cut off (in one direction) if and when Chinese arbitragers, even insiders, are no longer able to withdraw any RMB.  In that case, the price will probably rise sharply in China, while dropping somewhat in the West.

[adamstgBit]

price will rise sharply everywhere Jorge

[ShroomsKit]

What's the reason for dip now then?? -_-

Spineless manipulators are trying to make it look like we are heading towards single digits. They shall get testicle cancer for doing so. Hopefully.

I like your style.

[ChartBuddy]

Explanation

[JorgeStolfi]

The current drop does not seem to be China's fault.  Apparently it started on BTC-e at 04:05 UTC, with a freak ~2000 BTC dump.  Huobi started to react around 04:10, and Bitstamp followed at about 04:25.  

What is strange is that the price did not recover after the dump, as it did on several previous freak dumps.  Perhaps the previous ones were smaller amounts of BTC that did not find any supporting walls, whereas this one is a significant increase in the supply of coins?  Or it was just the trigger that released pent-up market pessimism?


  

[dreamspark]

Price would rise everywhere, theres an argument that gox' lack of withdrawals led to increased buying pressure and thus aided the rally that happened on every exchange.

[dreamspark]

Jorge when prices rise again will we see a Chinese Arousal Method prediction?

[aminorex]

The forums and reddit are now chock full of nothing but bullish posts and bullish PRs.

Therefore, it is going down.

Yet here you are being all bearish.

We are all contrarians here.

[JorgeStolfi]

price will rise sharply everywhere Jorge

Why do you think so?  Closure or shrinking of the Chinese markets can only increase the supply of coins in the Western ones, without a corresponding increase in dollars.  How could that mean higher prices in the West?

[aminorex]

The forums and reddit are now chock full of nothing but bullish posts and bullish PRs.

Therefore, it is going down.

When i see more ultrabulls becoming neutral (like BillyJ), and not yelling FUD at real, negative events....THAT will be bullish.  

To be fair (to me, and I'm always interested in being fair to me) the brief tendency to erroneously declaim reportage as FUD was a conditioned reflex:  Much of the factual negative news in recent months was preceded by a protracted torrent of misinformation and disinformation, which accompanied a set of criminal attacks on the bitcoin networks, both the protocol network and the exchange network.  Conditioned reflexive opposition to attack is prone to generate a lot of false positives.
 

[p0peji]

price will rise sharply everywhere Jorge

Why do you think so?  Closure or shrinking of the Chinese markets can only increase the supply of coins in the Western ones, without a corresponding increase in dollars.  How could that mean higher prices in the West?

Because everyone will HODL  

[JorgeStolfi]

Jorge when prices rise again will we see a Chinese Arousal Method prediction?

[aminorex]

Closure or shrinking of the Chinese markets can only increase the supply of coins in the Western ones

I think this is an unwarranted assumption.  Both increase and decrease scenarios are possible, and their relative probability is open to speculation and conjecture.

[Nightowlace]

UP!