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

[EuroTrash]

So are we going to final bottom around $370 next week or not?

Why 370?

[ChartBuddy]

Explanation

[Dalmar]

So are we going to final bottom around $370 next week or not?

Why 370?

Because too many people will have their eyes on 340-350 and place bids in that area.. Sort of like people were expecting 380 on the Feb Gox collapse only for it to stop at 400.

[ChrisML]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

"Oh yes, yes!! I want cheap coins".

Wait. Been there, done that. Shitloads of times. People who hope it's going to be <$380/400/420/440... make up your mind. Play the game, or go in shame.

[MICRO]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

"Oh yes, yes!! I want cheap coins".

Wait. Been there, done that. Shitloads of times. People who hope it's going to be <$380/400/420/440... make up your mind. Play the game, or go in shame.

Its going up. Or staying at this price.

[Kupsi]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

So this time it is the last last last last chance 

Could be.

[hdbuck]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

So this time it is the last last last last chance  

Could be.

heheh sidemoney is getting nervous because of not seeing that "last drop"...
global panic buy soon? to teh moon?

[ChartBuddy]

Explanation

[niothor]

So are we going to final bottom around $370 next week or not?

Why 370?

Because too many people will have their eyes on 340-350 and place bids in that area.. Sort of like people were expecting 380 on the Feb Gox collapse only for it to stop at 400.

But now , with that lesson learn , wouldn't they start buying 10-20 above the step they believe everyone would start buying ?
If we follow this logic we might start buying at 2000$/btc ))

[dreamspark]

ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalk.org/index.php?topic=592760.msg6505570#msg6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

Maybe if they're running fractional reserve there's even less coins in Chinese hands lol. Now that would be funny. I'd call this a pretty positive weekend absent any new news in the next hour or so. Even at this point a $27 price rise and no super fud from China is a good thing.

[Erdogan]

ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalk.org/index.php?topic=592760.msg6505570#msg6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

The rational thing to do if you are afraid, is to convert everything to bitcoin and withdraw. Because

a) it is risky to be in fiat these days

b) it is risky to have funds at exchanges these days.

Bonus: If your favorite exchange goes bust, it is more difficult for the thugs to track you.

[eiskalt]

ok so let me guess how this might play out:

1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalk.org/index.php?topic=592760.msg6505570#msg6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.

The rational thing to do if you are afraid, is to convert everything to bitcoin and withdraw. Because

a) it is risky to be in fiat these days

b) it is risky to have funds at exchanges these days.

Bonus: If your favorite exchange goes bust, it is more difficult for the thugs to track you.

c) it is risky to hold bitcoins these days

Therefore withdraw your money and diversify your portfolio

[TERA]

That SEC article was warning about people who promote investments as being a gauranteed high return and risk free.  Well bitcoin bulls go even one step further than this, to tell you that holding cash itself is risky.

[ZephramC]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

So this time it is the last last last last chance 

Could be.

I think there will be plenty of chances to buy < $450 until July.

[ChartBuddy]

Explanation

[hdbuck]

So are we going to final bottom around $370 next week or not?

Don't bet on that. This could be the last chance to buy < $450.

So this time it is the last last last last chance  

Could be.

I think there will be plenty of chances to buy < $450 until July.

yea, well what about <400$ ? i'm not sure sure

[TERA]

When I take my 3 month break from bitcoin trading and come back, I bet it'll be exactly $445

[mmitech]

When I take my 3 month break from bitcoin trading and come back, I bet it'll be exactly $445

oh this is what I was waiting for, what is the bet here ?

[TERA]

[rpietila]

That SEC article was warning about people who promote investments as being a gauranteed high return and risk free.  Well bitcoin bulls go even one step further than this, to tell you that holding cash itself is risky.

Cash is not risky. You are guaranteed to lose, and the guarantee is backed by the full coercive force of the largest government the world has ever seen.

Not even gold is a guaranteed winner every year, because it is only backed by free market.