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

[SheHadMANHands]

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000′s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air...

 That said, despite everyone’s expectations, it seems unlikely that there will be another huge “bubble”, seeing as they were never “real” in the first place.

It's not that there won't be more bubbles, but that they're unlikely to be as extreme (10x in 2 months or whatever) and volatile as they've been in the past.  Volatility has been artificially propped up, basically.

This says nothing about Bitcoin's potential to reach various price levels, as it would need to do anyway to support various levels of commerce in 5yrs, 10yrs, etc.

Ironically, these artificial injections may have sped up the growth of Bitcoin.  Inevitably, each bubble popped dramatically, but it left in it's wake more media coverage, attention, etc., than would have otherwise been "newsworthy".

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[gentlemand]

So today is the official end of bubble day. And this is being declared on the basis of one posting on the internet. Quel dommage. Let's reevaluate at the end of the season.

If human psychology and herd instinct is such an important factor in market behaviour, it's quite possible that this pattern is now hard baked into the BTC cycle.

[wachtwoord]

So today is the official end of bubble day. And this is being declared on the basis of one posting on the internet. Quel dommage. Let's reevaluate at the end of the season.

Because without manipulation and fake trading bubbles are completely impossible of course .... 

[SheHadMANHands]

So today is the official end of bubble day. And this is being declared on the basis of one posting on the internet. Quel dommage. Let's reevaluate at the end of the season.

If human psychology and herd instinct is such an important factor in market behaviour, it's quite possible that this pattern is now hard baked into the BTC cycle.

Not end of "bubble" day.  End off "huge (fake) bubble" day, possibly.  There will always be bubbles.  

No effect on longterm growth.

[gentlemand]

So today is the official end of bubble day. And this is being declared on the basis of one posting on the internet. Quel dommage. Let's reevaluate at the end of the season.

Because without manipulation and fake trading bubbles are completely impossible of course ....  

Correct. I guess we'd better have one last bubble tonight for old time's sake before calling it quits.

[alani123]

The crash to double digits is not gonna happen! But I'm convinced a decline to the price due to the news is perfectly possible. Remember what the speculation about China did?

[gentlemand]

It ain't news yet.

[y3804]

I'm tired of watching the charts. I'll come back in two weeks.

[windjc]

http://willyreport.wordpress.com/

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000′s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air...

That said, despite everyone’s expectations, it seems unlikely that there will be another huge “bubble”, seeing as they were never “real” in the first place.

 

Crash to double digits incoming.

Am i the only one who finds the accent on this kinda fishy? The whole blog tries to come out as just collection of objective facts, and here he just draws a conclusion about future of the btc price. Kinda weird.

that price manipulation in the screen shot was when mtgox was going out of business so they wanted to hold the market up, right? this sounds like fear mongering to me...

Huh??? RTFA. The bot has spent $110 MILLION US DOLLARS buying >280,000 BITCOINS in the November bubble ALONE. There is evidence it was involved in every bitcoin bubble to date. If this is confirmed, its chilling. This is big news.

Not sure if serious.

I can't tell if you are joking or being ridiculously obtuse.

This WILLY shit is irrelevant. Millions of dollars of real money led to the bubble. Most of the rise in November was led by China.

None of this speculation matters.

[kurious]

at the moment LTC is the only alt that I would consider trading and investing in... it is also the safest one and the biggest and oldest and most developed

18 months back I would have agreed with you but times are changing, innovations and developments occurring - it pays to keep an open mind and a few satoshis available for new things.

+1

I wholeheartedly agree, however, I am afraid no one is listening to you, Nanobrain.  I am actually shocked.

I have now sold half my LTC (which I never imagined even a couple of months back I would do) to get into DRK / MRO and XC and these and other  new coins are looking really interesting as well as being wonderfully volatile.

So many coins, yes - but not watching alts for developments is extremely short-sighted.

The volumes for the top handfull of new coins is quite hefty, and as long as you buy according to innovative features, they're starting to make LTC look dated now.

It will not move up with BTC like is used to as most people do not want to spend BTC on alts, but old LTC stocks (and PPC /NMC / XPM... et al) seem unnecessary now.

Coins actually die and disappear every day - and only really innovative ones rise (and rise quickly).  

IMHO Anyone not watching is taking a big risk, as well as losing some interesting opportunities.

well IMHO all the coins you pointed above are in a temporary hype, as usually they get pumped then people jumps in wishing to make some profits, and you go around the forum to hear them talking about how great the coin is and it offers this and that and whatnot but the real deal is that most coins are horse shit... seriously there I dont see the purpose of most of the coins, and dont tell me about anonimity and privacy... coinjoin offers the same shit, it was gmaxwell project (idea) and it can be implemented on any coin ( Bitcoin, litecoin, shitcoin....), even if we assume that an anonymous coin would technically survive how and who do you think will adopt that coin ?

the only 2 most innovative coins I came across that really deserved some attention were Ethereum and NXT, sadly the pre-mine (IPO) philosophy killed a fear start, also the market is not really prepared for these features yet... we've got a long path to bring the basic features to masses, only then we can think about going to the next level.

People should be watching NXT. If it were on all the exchanges DRK was on, it would be much higher. It is truly innovative and even if its before its time, it will be ready when its time has come.

NXT is also in discussions with Overstock.com regarding a bond issuance and it will soon become its own decentralized alt-coin exchange, where people can trade essentially for free.

So, because people don't do research, they think that DRK has special features, when, in fact, coins like MRO are much more superior as autonomous coins, while coins and systems like NXT are also capable of having this autonomy built into their system.

DRK is going to crash soon.

Yeah I bought NXT a while back, but it's not moved much in months, although I agree people seem to think it's capabilities are groundbreaking. As for DRK - it's one I am wary of but I have got some and it is way over where I got in.   I am in XC (X11) to see what happens too - but I agree about MRO, and it is by far my biggest bet.

I agree not all will succeed, it's brutal out there but some of these will be part of the new value exchange ecosystem that BTC is front-running.

I think there are different roles for coins to perform and - sure - time will tell, but many coins have far more to offer than LTC which I personally think will continue to suffer from only having 'speed' as a reason for buying it.  It will not go away in a hurry, but recently I have re-evaluated why I have always held so many and I don't regret it.

[windjc]

I'm tired of watching the charts. I'll come back in two weeks.

Right. Because the market has moved so little in the last 5 days.

[ElectricMucus]

http://willyreport.wordpress.com/

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000′s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air...

That said, despite everyone’s expectations, it seems unlikely that there will be another huge “bubble”, seeing as they were never “real” in the first place.

 

Crash to double digits incoming.

Am i the only one who finds the accent on this kinda fishy? The whole blog tries to come out as just collection of objective facts, and here he just draws a conclusion about future of the btc price. Kinda weird.

that price manipulation in the screen shot was when mtgox was going out of business so they wanted to hold the market up, right? this sounds like fear mongering to me...

Huh??? RTFA. The bot has spent $110 MILLION US DOLLARS buying >280,000 BITCOINS in the November bubble ALONE. There is evidence it was involved in every bitcoin bubble to date. If this is confirmed, its chilling. This is big news.

Not sure if serious.

I can't tell if you are joking or being ridiculously obtuse.

This WILLY shit is irrelevant. Millions of dollars of real money led to the bubble. Most of the rise in November was led by China.

None of this speculation matters.

Right, until somebody gets arrested...

[David M]

If the "Willy report" is going to crash Bitcoin, then we can expect a massive gold rally based on the Barclay's manipulation news.

IMO, not going to happen although gold may grind higher as Russia and China continue their buying.

[akujin]

 

[windjc]

http://willyreport.wordpress.com/

It needs to be recognized that, whether intentional or not (though plausible ignorance only goes so far), Mt. Gox has effectively been abusing Bitcoin to operate a Ponzi scheme for at least a year. The November “bubble” well into the $1000′s – and possibly April’s as well – was driven by hundreds of millions of dollars of fake liquidity pumped into the market out of thin air...

That said, despite everyone’s expectations, it seems unlikely that there will be another huge “bubble”, seeing as they were never “real” in the first place.

 

Crash to double digits incoming.

Am i the only one who finds the accent on this kinda fishy? The whole blog tries to come out as just collection of objective facts, and here he just draws a conclusion about future of the btc price. Kinda weird.

that price manipulation in the screen shot was when mtgox was going out of business so they wanted to hold the market up, right? this sounds like fear mongering to me...

Huh??? RTFA. The bot has spent $110 MILLION US DOLLARS buying >280,000 BITCOINS in the November bubble ALONE. There is evidence it was involved in every bitcoin bubble to date. If this is confirmed, its chilling. This is big news.

Not sure if serious.

I can't tell if you are joking or being ridiculously obtuse.

This WILLY shit is irrelevant. Millions of dollars of real money led to the bubble. Most of the rise in November was led by China.

None of this speculation matters.

Right, until somebody gets arrested...

Thousands of people get arrested everyday. That has no effect on the bitcoin price.

[El Cabron]

you guys and your shit alt coins....

[ElectricMucus]

Right, until somebody gets arrested...

Thousands of people get arrested everyday. That has no effect on the bitcoin price.

You know who that somebody is, right? I mean you know you want it...

[windjc]

If the "Willy report" is going to crash Bitcoin, then we can expect a massive gold rally based on the Barclay's manipulation news.

IMO, not going to happen although gold may grind higher as Russia and China continue their buying.

There is no news. Willy has been around forever and we all knew it manipulated trading at GOX, especially in the last month.

This is simply people hoping that this will drive the price down.

[windjc]

Right, until somebody gets arrested...

Thousands of people get arrested everyday. That has no effect on the bitcoin price.

You know who that somebody is, right?

You?

[windjc]

you guys and your shit alt coins....

uuhhhmmm...I believe there are few LTC believers more religious than yourself, if I remember correctly.