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

[deadley]

ya one thing is clear the market is in no rush these days.

Because there is no reason for rush, that is why no rush.

[Facenose]

ya one thing is clear the market is in no rush these days.

Because there is no reason for rush, that is why no rush.

The price just stays about the same, its almost like,,, a currency or something...

[adamstgBit]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

fact
Bitcoin cost/value has been plummeting
fact
Its only a matter of time at this point until price corrects in the correct direction
fact
Part of you knows i'm right, next year it wont be 620$... this is why you Hodl!

[okthen]

I think this poll's results indicate a massive sell off at $10000.
Meanwhile... buy buy buy!

[adamstgBit]

I think this poll's results indicate a massive sell off at $10000.
Meanwhile... buy buy buy!

the swings in the 4-8K range are gana be something else.

but 10K is easily attainable really... small % of gold looks to buy bitcoin and vola!

[Torque]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

I agree, and I really think the slow to a crawl during the summer months just proves and underlines the fact that the Bitcoin market is still RULED by:

1.  Adolescents that only want to speculate during off-summer periods.  During summer it's all vacations, beers, chasing skirt, and happy fun time.  I bet if we did an honest poll, we'd find that > 90% of all bitcoin holders are under the age of 25.  Also points the the overall maturity level of the existing market (no offense to anyone here).

2.  Whales that only want to speculate during off-summer periods.  "Sell in May and go away."  And without major news on the near term horizon, they know they won't get the run up that they need to make serious money.  We need to keep in mind, that these guys get their insider info way ahead of the rest of the market, often months in advance.

Despite all the seemingly BIG news in the bitcoin investor media, this market is still extremely small.  Ridiculously so.  I mean c'mon, realistically we're still at what, maybe ~1M bitcoin holders worldwide at best?  That's both the good news and the bad news, all rolled into one.  

[okthen]

I think this poll's results indicate a massive sell off at $10000.
Meanwhile... buy buy buy!

the swings in the 4-8K range are gana be something else.

but 10K is easily attainable really... small % of gold looks to buy bitcoin and vola!

Yep, I guess we won't arrive to 10K during the next bubble.
Unless maybe if it happens due to the ETFs and all the big money coming in.
Otherwise we'll have to wait for 2015 to get really excited.

[ChartBuddy]

Explanation

[macsga]

From what we've witnessed so far, there's a ton of good news that point to the moon direction. Nevertheless, we've also witnessed that bitcoin does whatever it sees fit without program and no prediction. Only a handful of people know exactly when it pumps and you *may* have noticed that they're very very quiet when the time comes.

You know my opinion. Just HODL!
But of course:

[JorgeStolfi]

Huobi has detached itself from OKCoin over the last few days.  They used to be only 2-3 yuan apart, recently Huobi has been 20 yuan lower or more.

Huobi's volume has been shrinking too; it was ~20 kBTC/day on average over the last week, only 12 kBTC yesterday (Jul/15) -- whereas in Feb/Mar it typically had more than 50 kBTC/day.  (Its record was 353 kBTC on Feb/25.)  Yesterday's was the lowest volume since the New Year holidays -- excuding the three days May 17--19, the lull just before the sudden start of the current mini-bubble.

OKCoin (which used to be a distant second place to Huobi, a few months ago) has been shrinking too, but not as much.  It has long surpassed Huobi and now has ~40 kBTC/day on average, 22 kBTC yesterday.

The shrinking of Huobi may perhaps be due to the opening of their Hong Kong exchange, BitVC.  AFAIK it only trades BTC against LTC, and is still invitation-only; presumably the largest Huobi clients were invited and are having fun at BitVC rather than Huobi.   Maybe some of them were OKCoin clients too.  If that is teh case, the transfer of BTC from Huobi to BitVC may also be the cause of the current mini-bubble.

[dreamspark]

Huobi has detached itself from OKCoin over the last few days.  They used to be only 2-3 yuan apart, recently Huobi has been 20 yuan lower or more.

Huobi's volume has been shrinking too; it was ~20 kBTC/day on average over the last week, only 12 kBTC yesterday (Jul/15) -- whereas in Feb/Mar it typically had more than 50 kBTC/day.  (Its record was 353 kBTC on Feb/25.)  Yesterday's was the lowest volume since the New Year holidays -- excuding the three days May 17--19, the lull just before the sudden start of the current mini-bubble.

OKCoin (which used to be a distant second place to Huobi, a few months ago) has been shrinking too, but not as much.  It has long surpassed Huobi and now has ~40 kBTC/day on average, 22 kBTC yesterday.

The shrinking of Huobi may perhaps be due to the opening of their Hong Kong exchange, BitVC.  AFAIK it only trades BTC against LTC, and is still invitation-only; presumably the largest Huobi clients were invited and are having fun at BitVC rather than Huobi.   Maybe some of them were OKCoin clients too.  If that is teh case, the transfer of BTC from Huobi to BitVC may also be the cause of the current mini-bubble.

What mini bubble is this? I sure dont see any bubbling at the moment.

Btw for your records BitVC is quite a good platform, been there for a day or so testing it out.

[JorgeStolfi]

What mini bubble is this? I sure dont see any bubbling at the moment.

Well, maybe it is not the right technical term. I mean the one that started on May/20, at ~450 USD/BTC, and is still going on.

Btw for your records BitVC is quite a good platform, been there for a day or so testing it out.

Thanks! Is it already open for general registration? Does is have other options besides BTC x LTC?

[adamstgBit]

What mini bubble is this? I sure dont see any bubbling at the moment.

Well, maybe it is not the right technical term. I mean the one that started on May/20, at ~450 USD/BTC, and is still going on.

thats not a bubble, that was the bottom.

just buy a bitcoin Jorge

[dreamspark]

What mini bubble is this? I sure dont see any bubbling at the moment.

Well, maybe it is not the right technical term. I mean the one that started on May/20, at ~450 USD/BTC, and is still going on.

Fair enough, my techincal term would be an increase in value but you know, whatever perspective you look at it from

Btw for your records BitVC is quite a good platform, been there for a day or so testing it out.

Thanks! Is it already open for general registration? Does is have other options besides BTC x LTC?

No, invite only currently though it doesn't seem too exclusive so an invite shouldn't be hard to find.

No, just CNY, BTC and LTC.

[JayJuanGee]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

I agree, and I really think the slow to a crawl during the summer months just proves and underlines the fact that the Bitcoin market is still RULED by:

1.  Adolescents that only want to speculate during off-summer periods.  During summer it's all vacations, beers, chasing skirt, and happy fun time.  I bet if we did an honest poll, we'd find that > 90% of all bitcoin holders are under the age of 25.  Also points the the overall maturity level of the existing market (no offense to anyone here).

2.  Whales that only want to speculate during off-summer periods.  "Sell in May and go away."  And without major news on the near term horizon, they know they won't get the run up that they need to make serious money.  We need to keep in mind, that these guys get their insider info way ahead of the rest of the market, often months in advance.

Despite all the seemingly BIG news in the bitcoin investor media, this market is still extremely small.  Ridiculously so.  I mean c'mon, realistically we're still at what, maybe ~1M bitcoin holders worldwide at best?  That's both the good news and the bad news, all rolled into one.  

ADAM::::: Maybe we need a poll to ask the question of ages of readers of this thread? 

What's your age?

Below 18?

18-21?

22-24?

25-29?

30-39?

40-49?

50-69?

Above 70?

[macsga]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

I agree, and I really think the slow to a crawl during the summer months just proves and underlines the fact that the Bitcoin market is still RULED by:

1.  Adolescents that only want to speculate during off-summer periods.  During summer it's all vacations, beers, chasing skirt, and happy fun time.  I bet if we did an honest poll, we'd find that > 90% of all bitcoin holders are under the age of 25.  Also points the the overall maturity level of the existing market (no offense to anyone here).

2.  Whales that only want to speculate during off-summer periods.  "Sell in May and go away."  And without major news on the near term horizon, they know they won't get the run up that they need to make serious money.  We need to keep in mind, that these guys get their insider info way ahead of the rest of the market, often months in advance.

Despite all the seemingly BIG news in the bitcoin investor media, this market is still extremely small.  Ridiculously so.  I mean c'mon, realistically we're still at what, maybe ~1M bitcoin holders worldwide at best?  That's both the good news and the bad news, all rolled into one.  

ADAM::::: Maybe we need a poll to ask the question of ages of readers of this thread? 

What's your age?

Below 18?

18-21?

22-24?

25-29?

30-39?

40-49?

50-69?

Above 70?

I'm 12... (mentally)

[ChartBuddy]

Explanation

[roslinpl]

I'm 12... (mentally)

Hey! So this is just typical it seems. 
Nothing to worry about in my case.
Good.

[mmitech]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

Maybe check that phases of a bubble chart again, everyone got all despondent a week or so ago and it started going up This looks uncomfortably like manipulation but it could simply be the market maturing. Whatever it is commerce will love it and the "its to unstable to be money" crowd will finally stfu. Pump and dumpers are getting burned and day traders cant be too happy but overall this stability is good for bitcoin.

so after a week you say? I still have a bunch of coins, I would love to see them worth 10x more

[mmitech]

Maybe it's time that we stop being delusional.
For 6 weeks or so everyone expected a huge break out. I think by now it's clear it's simply not gonna happen. At least not now.
Nothing even slightly points that way either. Really, there is no reason i can think of why we suddenly would go to the moon.
I'm a bull and will always be but i'm starting to cringe every time i see people adjusting their charts and lines and chicken bones to show how we will go up in 2 days from now. You just keep changing the dates and lines because nothing happened at the previous date.
I never seen so many people in denial and simply delusional here before.
I think it's better if you start facing the facts.

Price went down, value goes up. It's only a matter of time before price catches up with value.

what is the value ? isn't the value of a bitcoin exactly the price of a bitcoin ?