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

[ShroomsKit]

It's becoming very obvious that somebody -- or more likely -- some government is trying their best to manipulate the price of bitcoin down. I would guess the most likely candidates are Russia, China, or .. the good ol' USA (perhaps a US - Israeli mutual effort). There aren't too many people out there who can afford to put up and replenish such ask walls, and who would want to manipulate the price down.

You seriously think a "government" is busy putting up walls of 500 bitcoins?
Not really, right?

Yes, I think it's very possible. I can assure you that there are many high level, closed door meetings occurring around the world about the rise of cryptocurrencies and the best strategies to subversively suppress growth. It is not in their interest to let this succeed.

And the best way to do this is by putting up 500 Bitcoin walls at 600.
This really sounds plausible to you? This is something a government would do to stop Bitcoin? You really, truly believe that.
Sorry for all the questions but i just can't believe you're not joking.

[ShameOnYou]

If we do reverse back down soon, that wall at $600 will turn out to have been very well placed. It's been there for like a day now and is almost a third eaten.

[hyphymikey]

Move out the way Wall-tard!

[mooncake]

Instead of a number, can the auction bid price submitted to USMS be: Last price at Stamp on 30 June 2014 00:00 GMT?

[kireinaha]

It's becoming very obvious that somebody -- or more likely -- some government is trying their best to manipulate the price of bitcoin down. I would guess the most likely candidates are Russia, China, or .. the good ol' USA (perhaps a US - Israeli mutual effort). There aren't too many people out there who can afford to put up and replenish such ask walls, and who would want to manipulate the price down.

You seriously think a "government" is busy putting up walls of 500 bitcoins?
Not really, right?

Yes, I think it's very possible. I can assure you that there are many high level, closed door meetings occurring around the world about the rise of cryptocurrencies and the best strategies to subversively suppress growth. It is not in their interest to let this succeed.

And the best way to do this is by putting up 500 Bitcoin walls at 600.
This really sounds plausible to you? This is something a government would do to stop Bitcoin? You really, truly believe that.
Sorry for all the questions but i just can't believe you're not joking.

We already know that they tried banning it, and then banning it again, and then banning it another five times when the first two attempts didn't work (China) so I don't see why governments wouldn't also pursue more straight forward strategies to suppress it with large ask walls on the major exchanges.

edit: Lest we be naive, government spokesmen on an individual basis may get before the cameras and tell us that they support bitcoin, because they don't want to look unhip or behind the technology curve to their constituents, but on a collective basis, world governments absolutely do not want bitcoin to succeed.

[ChartBuddy]

Explanation

[kodtycoon]

id love to meet who ever has that wall up coz id smack em up side the head with a cricket bat!

[windjc]

This a fakeout then? Looking kind of like a weak double top on Huobi. It's actually a slightly higher high with bear divergence on RSI.... not convinced where going up here. Maybe regroup in the $580s....

Lol. You are going to be left behind. We will be at 650 this week. Keep telling yourself you can buy back you 1.3 BTC for a lower price.

[seleme]

Of course everytime we go above 600, manipulators put up walls and the sheep panic sell. Fucking idiot traders.

Shroomskit, is that you? 

[ShroomsKit]

It's becoming very obvious that somebody -- or more likely -- some government is trying their best to manipulate the price of bitcoin down. I would guess the most likely candidates are Russia, China, or .. the good ol' USA (perhaps a US - Israeli mutual effort). There aren't too many people out there who can afford to put up and replenish such ask walls, and who would want to manipulate the price down.

You seriously think a "government" is busy putting up walls of 500 bitcoins?
Not really, right?

Yes, I think it's very possible. I can assure you that there are many high level, closed door meetings occurring around the world about the rise of cryptocurrencies and the best strategies to subversively suppress growth. It is not in their interest to let this succeed.

And the best way to do this is by putting up 500 Bitcoin walls at 600.
This really sounds plausible to you? This is something a government would do to stop Bitcoin? You really, truly believe that.
Sorry for all the questions but i just can't believe you're not joking.

We already know that they tried banning it, and then banning it again, and then banning it another five times when the first two attempts didn't work (China) so I don't see why governments wouldn't also pursue more straight forward strategies to suppress it with large ask walls on the major exchanges.

edit: Lest we be naive, government spokesmen on an individual basis may get before the cameras and tell us that they support bitcoin, because they don't want to look unhip or behind the technology curve to their constituents, but on a collective basis, world governments absolutely do not want bitcoin to succeed.

And the best way the goverment (whatever that might be) can get rid of Bitcoin is to buy a few coins and put up small sell walls.
Ok, it's clear you are serious and i kinda feel sorry for you. I can only imagine the other things you come up with in your life and believe in.

Oh and the governments don't want to look unhip so in front of the cameras they accept Bitcoin.
My god...

[ShroomsKit]

Of course everytime we go above 600, manipulators put up walls and the sheep panic sell. Fucking idiot traders.

Shroomskit, is that you? 

Nah, just a troll.

[N12]

Of course everytime we go above 600, manipulators put up walls and the sheep panic sell. Fucking idiot traders.

Shroomskit, is that you? 

Nah, just a troll.

[ShroomsKit]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

[windjc]

The Daily MACD on Stamp is headed towards green. The weekly is already there. We have been consolidating just below 600 awaiting the results of the auction. Any bid price close to 590-600 or above will send this market to $650 at least.



Lift off impending.

[windjc]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong, but all Silbert has told us is that 42 parties put in over 130 total bids worth 48k BTC.

Nothing else is known with the math and figures Silbert gave.

[N12]

A big move is certainly coming up sometime soon-ish given the coiling we are experiencing.

[bitrider]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

[N12]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

That particular 28 million example is the fault of a CoinDesk writer who either didn't understand this or is purposefully being misleading: http://www.coindesk.com/barry-silbert-data-secondmarket-us-marshal-auction-syndicate

[ShroomsKit]

"Silbert also noted that the total value of the bids was 48,013 BTC or roughly $28.4m. At press time, the market value of the 30,000 BTC was roughly 17.7m"

42 bidders. So it looks like the bids were extremely low. Am i saying this right?

Not sure how people keep getting this wrong

Easy. Fear clouds the mind.

Yeah. I'm full of fear. My mind is so clouded. Ready to sell all my coins.

[bitrider]

A big move is certainly coming up sometime soon-ish given the coiling we are experiencing.

Very nice charts. But it suggests something different to me. We may have to wait somewhat longer for the next big push. Hope not. But that's what this looks like to me.