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

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[EuroTrash]

/r/bitcoin

Bots.

[freedomno1]

/r/bitcoin

Bots.

Wow that is a lot of bots to make that go up
Not sure why though

[ChartBuddy]

Explanation

[ThomasCrowne]

Explanation

Starting to think we will be seeing a "big budda-boom" to the upside here soon

[molecular]

here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

• "slow bleed" (good money drives out bad, waves of adoption)
• "speculative attack" (on fiat currencies)
• "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day

[Davyd05]

I feel rather calm, not so much like I feel the train needs to come...think the newbies are figuring out how and where to buy bitcoin.

[edwardspitz]

here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

• "slow bleed" (good money drives out bad, waves of adoption)
• "speculative attack" (on fiat currencies)
• "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day

LOL:

People will be forced to pay with bitcoins

That is true. Recently someone offered to pay me some money advertising on a site I run. I told him I would do it, but only if he would pay me in bitcoin. I never heard from him again   I even told him about the benefits compared to bank transfer and offered him a discount  

[ChartBuddy]

Explanation

[freedomno1]

I feel rather calm, not so much like I feel the train needs to come...think the newbies are figuring out how and where to buy bitcoin.

That would calm me down if the newbies are able to figure out where to buy and acquire bitcoin that means good news for adopters

[justusranvier]

Not enough people realize this yet:

Everyone admonishes people to not borrow in order to buy bitcoins. The reality is that money is fungible: if you buy bitcoins instead of paying down your mortgage's principal, you are a leveraged bitcoin investor. Almost everyone is a leveraged bitcoin investor, because it makes economic sense (within reason). The cost of borrowing (annualized interest rates ranging from 0% to 25%) is lower than the expected return of owning bitcoins.

This is the carry trade to end all carry trades. Once people start to figure that out...

[theonewhowaskazu]

here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

• "slow bleed" (good money drives out bad, waves of adoption)
• "speculative attack" (on fiat currencies)
• "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day

I don't think any of these will be true. I think it will be caused by inflation causing lenders to only issue debt denominated in btc to reduce risk. Then the rest of the economy must follow, as individuals and firms alike attempt to pay back those debts.

[Parazyd]

Let's go already, start rallying up!

[kryptopojken]

Let's go already, start rallying up!

This is not quite happening right now

[ChartBuddy]

Explanation

[gizmoh]

Too much hope, too much bullishness, a hard drop is coming..
 
Quoting my mentor DanV:


Hi. I think that most who subscribe to Bubble are firstly over emphasising the seeming positive news flow and fundamentals. Based on their assessment, there is never any variation of likely out come but be bullish and that they are still focusing on price action of 2012 and 2013 in which they experience massive moves to the upside after comparable corrections.

What they do not seem to grasp is that those development of part of larger cycle which was in infancy. Now that cycle is maturing they could not have same out come. As the cycle mature the upside moves are generally less impressive and correction can take lot longer than previous instances specially after parabolic move lake in 2013.

Based on my analysis and EW interpretation, I am expecting another big drop to 340 or lower. during which time general bullish sentiments will change to despair before the low is in. So the Bubble story might still reappear but much later than many think. May be towards late 2014 or early 2015 before meaningful low is i and new cycle could develop.

[jeezy]

here's something to read: http://nakamotoinstitute.org/mempool/speculative-attack/

the piece details how bitcoin will become mainstream:

• "slow bleed" (good money drives out bad, waves of adoption)
• "speculative attack" (on fiat currencies)
• "hyperbitcoinization" (feedback loop between fiat inflation and bitcoin deflation)

made my day

Hehe, that's a good one.

[dnaleor]

This little dump doesn't effect my current anlysis. We are still right on track:


short term, we see a downwards trending triangle. If we break to the UPSIDE, this will be very bullish and push us above the 654 USD fibonacci retracement:

[samsonn25]

EMA is dropping.   Currently $605