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

[keithers]

I didn't think that we would see too much of a sell of on a holiday.   I understand that BTC is worldwide, and that USA doesn't own the whole market obviously, but typically on today, people are out doing other things than being glued to their computers buying and selling Biitcoin...

[ChartBuddy]

Explanation

[Colonel Panic]

But seriously - the dumps and hesitancy to rise despite all the good news. There has got to be a limit to the amount sellers can sell (weak hands, strong hands argument).
So what is going on? Where are all the sellers coming from? Twitchy day-traders or early adopters with big stashes taking advantage of better liquidity?
Anyone have any insights, ideally backed up with some evidence like days destroyed or exchange data?

My thoughts always gravitate to it being mostly to do with people just making a bit of extra money but more importantly more coins.

There are very few investments where you aren't trying to come out with a bigger pile of fiat, in general when you trade a normal stock you tend to buy a position and then sell (or buy if you were short) and leave with the profit.

With Bitcoin however people are trying to make more of the 'stock' than fiat (obviously a generalization but can you draw any parallels?) a lot of people are also all in in terms of how much they are willing to invest, to make more BTC and not more fiat without leverage you have to sell and buy back at a lower price. I seriously think this is one of the reasons people are so willing to sell their BTC for the chance to buy it back lower even though the majority of them would have been better to buy and hold.

Also, occasional and opportunist traders aren't keeping their fiat on the exchanges, so if there's sudden action the most efficient way (in fact the only way fast enough) to get money on is with btc. For example with Silk Road last year - when the news came out everyone saw there'd be a buying opportunity, but the only way to buy was to send over btc and sell first. You miss the first hour of the move (the price of security), but can still turn a buck.

edit: The implication of course being that when we finally get a "grown up" insured exchange, there will be less "flash crash" pressure because fiat will be happily left pre-placed

[Sandia]

In what year will the price of bitcoin be higher than the page count in this thread?

[adamstgBit]

In what year will the price of bitcoin be higher than the page count in this thread?

this year.

[fonzie]

GOOOOOOOOOOOOOOOOOOOOOOOL STOLFI

[Master_dandosha]

In what year will the price of bitcoin be higher than the page count in this thread?

With the way the dollars future is looking, 2014 maybe

2015 -2016 perhaps you will see some improvement .

[deadley]

In what year will the price of bitcoin be higher than the page count in this thread?

this year.

Nah, but most probably will be next year, this year it's really hard to move up above 1k$.

[ChartBuddy]

Explanation

[CEG5952]

I'm back all in. I think we could have another weak leg down, but generally, we are in bounce territory. Indicators look to me a lot like prior to the ~6/29 pump. It's time to get bullish.

[zimmah]

In what year will the price of bitcoin be higher than the page count in this thread?

this year.

Nah, but most probably will be next year, this year it's really hard to move up above 1k$.

I agree it's probably next year, but still i think we'll get at least halfway this year during the peak.

[spooderman]

Proper bitcoin bull territory seems to just not be catching fire at the moment. I am almost certain it will happen again, but we need something major.

It's actually a credit to us that large businesses starting to accept btc has little effect on the price. We are bigger than that now. It's not about replacing what exists, it's about creating a new world.

[iram3130]

In what year will the price of bitcoin be higher than the page count in this thread?

this year.

Nah, but most probably will be next year, this year it's really hard to move up above 1k$.

I agree it's probably next year, but still i think we'll get at least halfway this year during the peak.

We have still half year, we can reach anywhere with that time.

[aminorex]

we finally get a "grown up" insured exchange, there will be less "flash crash" pressure because fiat will be happily left pre-placed

like MF Global?

[CoinHamster]

I'm back all in. I think we could have another weak leg down, but generally, we are in bounce territory. Indicators look to me a lot like prior to the ~6/29 pump. It's time to get bullish.

+1
TA says: spring is loading
 

[magicmexican]

look like LTC moves btc now :-D

Too much panic surrounding ltc now, i couldnt resist to buy some

[adamstgBit]

get out now before it drops to 0  

[magicmexican]

get out now before it drops to 0  

Or get out when its 0, just dont wait till its below 0, debts are bad

[aminorex]

I hate

Now I feel polluted for having read your post.

Your puerile contempt means squat.  Try facts and sound reasoning next time.

Told you earlier: you went from 'somewhat insightful' to 'cheerleader' in less than half a year. But whatever suits your financial decisions.

I am no cheerleader.I encourage long term holding, it is true, because my best modeling efforts dictate long-term appreciation, and I have very strong doubts about the skills of the median market timer.  But I hold out short term bearish views roughly as often as they are justified (at least since my monkey got up to speed). I was utterly deluded about mt.gox, which i attribute to reaction against fud and criminal attacks.  That probably merits a cheerleader badge, but i think i tore it off and trampled it several months ago, when the exchange failed utterly. During the past 3 months we have been on a strong gradual uptrend.  I suppose that acknowledging this is a kind of cheerleading.  In that case I am without objection, but your label is unduly prejudicial.

Regardless of how you choose to categorize me, or anyone else, the wbn site offers convenient access to a genuinely useful model for scenario analysis. The ire of your reaction to it seems unlikely to correspond to a rational outlook. If you could identify defects of the model, that would be constructive.

[ChartBuddy]

Explanation