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

[abercrombie]

Bitcoin value set to surge according to experts

Speaking at the Coin Summit in London yesterday, Geoff Lewis, partner at the Founders fund, estimates the value of the Bitcoin will skyrocket, "I'm really bullish when there is low volatility" but stated that there will definitely be a rise".

Millionaire investor Roger Ver, dubbed 'Bitcoin Jesus', told the Telegraph: "I actually think $2000 is a pretty conservative estimate.

"We don't know if it will happen this year but there's no doubt in my mind that Bitcoin's price is going to be thousands of dollars and, almost for sure, tens of thousands of dollars for one."...

[ChartBuddy]

Explanation

[JorgeStolfi]

Bitcoin value set to surge according to experts

Speaking at the Coin Summit in London yesterday, Geoff Lewis, partner at the Founders fund, estimates the value of the Bitcoin will skyrocket, "I'm really bullish when there is low volatility" but stated that there will definitely be a rise".

Millionaire investor Roger Ver, dubbed 'Bitcoin Jesus', told the Telegraph: "I actually think $2000 is a pretty conservative estimate.

"We don't know if it will happen this year but there's no doubt in my mind that Bitcoin's price is going to be thousands of dollars and, almost for sure, tens of thousands of dollars for one."...

If they really did believe that, they would be buying every coin in sight, and the price would be at least 1800$ now.

Every fund owner like Lewis of course wants other people to believe in 2000$ coins, so that they will buy shares of his fund so that he can collect fees.  Every bitcoin hoarder like Ver wants others to believe it, so that they will buy bitcoins and raise the price so that he can sell at bigger profit.

I don t see smart money investing in bitcoin directly. Most if not all the VC investment in "bitcoin infrastructure" is actually going to ventures that will take money from ordinary bitcoin users and private investors as they move their bitcoins around -- exchanges, payment systems, funds, mining, software, etc -- and thus will make a profit whatever happens to the price.

By the way: looking at the charts, I can correlate most of the major price movements to specific events, like the Chinese "bans" and Mark's announcement of a "bug in the protocol .  Only this mini-bubble that started on May 20, about 02:00 UTC does not seem to have such a correlation.  The bubble seems to have been created by 10--20 concentrated episodes of heavy buying that pushed up the price, sometimes by tens of dollars in the space of one hour.  Opposite events (sudden dumps) were rare and mostly in the past few weeks.  Between those pumps the price drifted rather randomly, often with a downward bias.

I wonder what caused those positive spurts.  One guess is that they are due to individual OKCoin clients saving money offline and depositing large sums all at once; their broker system seems too cumbersome for small deposits.  Another guess is that the fund owners are trying to keep the price more or less stable in order to increase the chances of approval of their funds by the SEC.

[ChartBuddy]

Explanation

[aminorex]

If they really did believe that, they would be buying every coin in sight, and the price would be at least 1800$ now.

Non sequitur.  The price will occupy all the points between here and there, and do so for finite time.  Your conclusion is both irrational and erroneous.

I don t see smart money investing in bitcoin directly.

There are two reasons why you don't see it:
1) It is largely invisible.
2) You are mostly blind.

[empowering]

[ChartBuddy]

Explanation

[spooderman]

Come on you bulls!

[Parazyd]

Come on you bulls!

Easy now... No need to rush it, it's gonna come by itself.

[Hunyadi]

Manipulators manipulate   I hope they enjoy it while it lasts. Soon manipulation should be more difficult with more big players entering the market.

[Parazyd]

Manipulators manipulate  I hope they enjoy it while it lasts. Soon manipulation should be more difficult with more big players entering the market.

Don't forget Wall Street. That could happen any time soon, or maybe it already begun.

[simmo77]

Well this is pretty cool..

http://beta.slashdot.org/submission/3694105

<snip>

I haven't been a reg on slashdot for a year or three, but when I used to read it any mention of Bitcoin would stir up a hornet's nest - so many haters... Is that still the case?

[theonewhowaskazu]

Manipulators manipulate   I hope they enjoy it while it lasts. Soon manipulation should be more difficult with more big players entering the market.

Then those "big players" you speak of become manipulators.

Also, new money doesn't push out old whales if those whales are smart. A person with about 1000 coins now might be considered a small whale, if BTC were to suddenly increase to 10,000 he would still be a whale and even potentially have more market-moving power, at least that much more power over the little guys.

[KFR]

[_javi_]

empowering, your gifs are hilarius.

[empowering]

 

[ChartBuddy]

Explanation

[Richy_T]

When we go from 640 to 630 it's called going down. Not sure why that's so difficult for you.

You could also say the same when the price goes from 634 to 633. I don't see the point in fretting about fluctuations that entirely fit into the normal intraday price range for BTC.

That's true, but these are the daytraders people. I'd call it going down if there would be more than 15-20$ value down for more than 3 hours. Or even better, at the end of the day. 

There is no end of the day.

[deadley]

Come on you bulls!

Easy now... No need to rush it, it's gonna come by itself.

Bull come always when you don't expect much.

[Richy_T]

i'm not a trader, guess they know better than me what to do. Still this looks to me like a glimpse of the future, a very clever solution to the security problem of keeping one private keys safe while mantaining ease of use. Can't help but admire such nice idea

Interesting but it's a move away from the distributed model. No worse than light clients, really but still.