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

[wachtwoord]

Besides , you shoudn't take this board as a model of how the market feels. I doubt that more than 10% of the top 10 traders and holders of BTC use this forum frequently.

How times have changed.

[CoinThinker]

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

[cech4204a]

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

[JorgeStolfi]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

[CoinThinker]

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

Order book is showing the same range on both sides (the picture I was looking at went +/- 45 USD on both direction). So it means that compared to the current price, they are 5237 BTC available in the +45 USD range, while the demand in the same range is 6231 BTC.

[tupelo]

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

You assume that both types of orders would meet at the same price, which is obviously not the case. Moreover orders in any orderbook are a very bad indicator because only a certain amount of them are actually the intended to be filled, the other get withdrawn as soon as the price comes too close.

[Majkeeno]

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

Order book is showing the same range on both sides (the picture I was looking at went +/- 45 USD on both direction). So it means that compared to the current price, they are 5237 BTC available in the +45 USD range, while the demand in the same range is 6231 BTC.

there are asks and bids in further than +45 usd range. it is only small part of whole orderbook.

+ tupelo answer.

[r34tr783tr78]

And we have to take in account that many orders are fake orders. When the price goes near, they are gone. Exchanges like Bitfinex allow fiat holders to put huge fake sell orders with only a fraction of the necessary money. The same can happen on the bid side.

[ChartBuddy]

Explanation

[dreamspark]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

yep, I remember when you said it lol. Weird

[xulescu]

More longs closing on BFX
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityPriceCombinedBTC.php

[akujin]

Gone ;-) but you still have no clue (old news are not clue)

Aww, you poor thing... You make my heart melt so I'll show you some clue to the clue  

Is bankruptcy the only possible reason for an exchange to close?  

http://www.cryptocoinsnews.com/news/chinese-bitcoin-exchange-fxbtc-closing-510-unprecedented-pressure-peoples-bank-china/2014/05/02

[tupelo]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

that is too funny

[dreamspark]

And we have to take in account that many orders are fake orders. When the price goes near, they are gone. Exchanges like Bitfinex allow fiat holders to put huge fake sell orders with only a fraction of the necessary money. The same can happen on the bid side.

They're not necessarily fake but if some news comes out or something similar and the price is crashing down people remove their bids wait for it to fall miss the bottom and then chase it back up, rinse and repeat.

[cech4204a]

Gone ;-) but you still have no clue (old news are not clue)

Aww, you poor thing... You make my heart melt so I'll show you some clue to the clue  

Is bankruptcy the only possible reason for an exchange to close?  

http://www.cryptocoinsnews.com/news/chinese-bitcoin-exchange-fxbtc-closing-510-unprecedented-pressure-peoples-bank-china/2014/05/02

Like i wrote, chinas ban is old news, which market already knows about. And still, where is answer to my forst question? you are just affraid and you know nothing about future price. I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass

[akujin]

e i wrote, chinas ban is old news, which market already knows about. And still, where is answer to my forst question? you are just affraid and you know nothing about future price. I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass

What? LOL!! Is that some kind of an alien language translation?  

chinas ban is old news
Old news but can you see where we are now? Is the price now higher than $1200? LOL!

And still, where is answer to my forst question?
Do you mean "first" question? Your first question is "any clues ?"  

I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass
2% error, one on each side? So you want me to post a price range and give me 0.1btc if I got it right? My guess is between $100 and $1000! And for my 2% error, that will be $98 to $1020 range.
Now let's see if you're going to pay me on may 30, 2014!
I'm going to label you a scammer if you do not pay!! Mark my words.. And I have quoted your post so I have proof!

Now you're in trouble.. hahaha  
Behold my wisdom you dork
Say bye to you 0.1btc

EDIT: Since it's a free offer, I'll just pick a random number.. I say  $509 on may 30 
That will be between $498.82 and $519.18 for 2% error. If that range got hit within the whole 24hrs on May 30, I win! Make sure you'll pay me if I got it right or else I'll give you your first negative feedback. Now quote this post! Bwahaha! 

[wachtwoord]

e i wrote, chinas ban is old news, which market already knows about. And still, where is answer to my forst question? you are just affraid and you know nothing about future price. I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass

What? LOL!! Is that some kind of an alien language translation?  

chinas ban is old news
Old news but can you see where we are now? Is the price now higher than $1200? LOL!

And still, where is answer to my forst question?
Do you mean "first" question? Your first question is "any clues ?"  

I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass
2% error, one on each side? So you want me to post a price range and give me 0.1btc if I got it right? My guess is between $100 and $1000! And for my 2% error, that will be $98 to $1020 range.
Now let's see if you're going to pay me on may 30, 2014!
I'm going to label you a scammer if you do not pay!! Mark my words.. And I have quoted your post so I have proof!

Now you're in trouble.. hahaha  
Behold my wisdom you dork
Say bye to you 0.1btc

The guy said price, not price range.

Also, way to appreciate an offer for a free gamble. I would have just taken it.

[kehtolo]

Lovely.. two idiots trying to outsmart each other.

Well, it makes my afternoon a little less boring.

[mmitech]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

copyrights ? does it matter ?

[akujin]

e i wrote, chinas ban is old news, which market already knows about. And still, where is answer to my forst question? you are just affraid and you know nothing about future price. I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass

What? LOL!! Is that some kind of an alien language translation?  

chinas ban is old news
Old news but can you see where we are now? Is the price now higher than $1200? LOL!

And still, where is answer to my forst question?
Do you mean "first" question? Your first question is "any clues ?"  

I offer you .1 btc if you write price of 30.5., i offer you 2% error, one on each side. Let me see your wisdom smartass
2% error, one on each side? So you want me to post a price range and give me 0.1btc if I got it right? My guess is between $100 and $1000! And for my 2% error, that will be $98 to $1020 range.
Now let's see if you're going to pay me on may 30, 2014!
I'm going to label you a scammer if you do not pay!! Mark my words.. And I have quoted your post so I have proof!

Now you're in trouble.. hahaha  
Behold my wisdom you dork
Say bye to you 0.1btc

The guy said price, not price range.

Also, way to appreciate an offer for a free gamble. I would have just taken it.

really? one on each side  

EDIT: With the way he respond to my post, you expect me to reply in a nice way? LOL!