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

[ChartBuddy]

Explanation

[JorgeStolfi]

Perhaps today's drop was due to the FXBTC closure news.  The announcement on their site is dated May 02, 06:40:57 UTC (2:40 pm local time), and the drop started suddenly around 04:05 UTC (12:05 pm local).  Could be insider info?

Coindesk article

Google translation at Bitcoinregime.com

Announcement on FXBTC site (in Chinese)

Thread discussing the news

EDIT: that would explain why the price did not rebound, as would be expected after a mere freak dump.

[coins101]

Not bad. Who said that?

Chuck Norris   

Darude - Sandstorm

Satoshi

[keithers]

I actually like the poll going on right now...some of the terms are so fitting for the differences in attitudes rolling through this forum on a daily basis

[gentlemand]

The poll's a bit extreme in either direction, no? I would go for - so be it.

[ChartBuddy]

Explanation

[zby]

I actually like the poll going on right now...some of the terms are so fitting for the differences in attitudes rolling through this forum on a daily basis

Even if you assume that people would correctly asses their own state - it would be still rather useless when we don't know if they are long or short.

[adamstgBit]

such OPTIMISM
much HOPE

good stuff

[BitChick]

such OPTIMISM
much HOPE

good stuff

But no euphoria yet.  I guess we have to wait for that still.

[UnDerDoG81]

c´mon Bitcoin do something 

[spooderman]

c´mon Bitcoin do something  

*plummets to zero instantly*

such OPTIMISM
much HOPE

good stuff

so poll
very representation of the overall bitcoin community

[NewLiberty]

Explanation

Straight lines.....

[alani123]

I could completely wrong, it is likely that I am, but I think that there are a large number of automated traders on both Bitstamp and BTC-e.  Some while ago these bot-users determined that the Chinese markets could/would serve as nice triggers for the other exchanges.  ++ for a long while it was Gox that served up similar triggers ++

In our increasingly nervous market the bots detect a movement on, say, Houbi and automatically follow suit.  That combination is enough for human traders to climb on the bandwagon and reinforce the initial move.  Then the more rational/reasoned traders counter-move and the initial trajectory is reversed. 

I believe that these oscillations will continue until: 1.  There is no 'other market' that serves up a trigger; or, 2.  Confidence is regained, the nervous market ends, and a true vector forms.

$0.02

Or another possibility: market makers selling BTC short.

Hasn't anyone else noticed that TradeFortress (the guy that made inputs.io the "hacked" webwallet resulting to losses of 4000 bitcoins) is back in the forums posting totally irrelevant stuff?

[ChartBuddy]

Explanation

[podyx]

My prediction:

A. Market goes back up to 2780-2800 range over next day or two and then collapses back near 2555 or lower on some new "news."

or

B. Market rallys back to 2900-2925 range within the next week and then collapses back near 2555 or lower on some new "news."

So are you holding mostly bitcoin now then?

[cbutters]

My prediction:

A. Market goes back up to 2780-2800 range over next day or two and then collapses back near 2555 or lower on some new "news."

or

B. Market rallys back to 2900-2925 range within the next week and then collapses back near 2555 or lower on some new "news."

My prediction is that we will stop caring what the price in china is.

[adamstgBit]

My prediction:

A. Market goes back up to 2780-2800 range over next day or two and then collapses back near 2555 or lower on some new "news."

or

B. Market rallys back to 2900-2925 range within the next week and then collapses back near 2555 or lower on some new "news."

My prediction is that we will stop caring what the price in china is.

but china will still care what the price is in the US 

[adamstgBit]

https://www.youtube.com/watch?v=Fd9CxIlkjpk

[Davyd05]

It's just so ridiculous to see Stamp following every move China makes. It's pathetic. Bitcoin traders are pathetic.

Nobody is sitting there making all these decisions. It's a program running an algorithm. Apparently the algorithm is profitable because the owners keep it running. Relax...

+1

[ChartBuddy]

Explanation