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

[theonewhowaskazu]

Whats going on in the orderbooks right now is actually fairly funny, if anyone cares to watch.

[Adrian-x]

Seriously, why does China seem to love positive US bitcoin news better than the US?  

It is kind of strange, its about 2am there atm so they even get out of bed to buy coins, serious dedication.

doesn't Jorge trade in China? 

[ChartBuddy]

Explanation

[keithers]

Looks like a mini surge in prices going on right now    I want to see us get back to at least around $650 by the weekend...let's go!!

[mmitech]

Dell accepting Bitcoin is bad sign for the short term price, simply with the adoption rate slowing down big purchases will exhaust and stress up the price, although if adoption will catch up then it is a good sign for the long term.

[BitChick]

Dell accepting Bitcoin is bad sign for the short term price, simply with the adoption rate slowing down big purchases will exhaust and stress up the price, although if adoption will catch up then it is a good sign for the long term.

If everyone just replenished their Bitcoin stash when they purchased things it would be a positive thing.  At least the news brings more validity to BTC though.

[edwardspitz]

Seriously, why does China seem to love positive US bitcoin news better than the US?  

It is kind of strange, its about 2am there atm so they even get out of bed to buy coins, serious dedication.

doesn't Jorge trade in China? 

I hear he has changed up and now does his coin hoarding on FBI auctions  

[bodogb]

Dell accepting Bitcoin is bad sign for the short term price

Biggest bullshit I've read in weeks. Think about it again and apologize for being an idiot.

[mmitech]

Dell accepting Bitcoin is bad sign for the short term price

Biggest bullshit I've read in weeks. Think about it again and apologize for being an idiot.

[ImI]

Dell accepting Bitcoin is bad sign for the short term price

it seems to be a non-event at the moment. the market doesnt care much about that news.

[T.Stuart]

Dell accepting Bitcoin is bad sign for the short term price

it seems to be a non-event at the moment. the market doesnt care much about that news.

Give it another moment  

[blatchcorn]

Dell accepting Bitcoin is bad sign for the short term price

it seems to be a non-event at the moment. the market doesnt care much about that news.

A $10 rise is better than nothing

[inca]

Dell accepting Bitcoin is bad sign for the short term price

Biggest bullshit I've read in weeks. Think about it again and apologize for being an idiot.

Extremely short termist viewpoints might help daytrading gamblers, exactly the people who have ridden the bitcoin bull market since 2011 and are not wealthy, but to speculators in bitcoin the dell announcement us hugely significant.

[Zangelbert Bingledack]

Dell accepting Bitcoin is bad sign for the short term price, simply with the adoption rate slowing down big purchases will exhaust and stress up the price, although if adoption will catch up then it is a good sign for the long term.

Suppose you want to maintain 80% bitcoin, 20% fiat in your portfolio. Then there are only three possible cases:

1) You're under 80% bitcoin. Why would you spend bitcoins now, unless you're going to immediately buy them back and then some to get back to 80%? Not bearish for the price.

2) You're at 80% bitcoin. You might spend, but to the extent you do you'll be more and more likely to buy them back. Not bearish.

3) You're over 80% bitcoin. You'd like to sell, but if you can easily spend since you wanted to buy some stuff anyway, you'll do that instead to the extent you can, until you're back to 80%. In other words, you would've sold those coins anyway and instead you're spending them. Not bearish.

Verdict: Not bearish.

For deeper insight into this, see the discussion of average dishoarding rates and portfolio balancing here: https://bitcointalk.org/index.php?topic=345065.0

[Erdogan]

Once it was about nowhere to use your coins. Now, with lots of merchants, it seems to be that noone has coins to use. Well, nowhere was it said that these things have to move in lockstep.

[Adrian-x]

Dell accepting Bitcoin is bad sign for the short term price

it seems to be a non-event at the moment. the market doesnt care much about that news.

A $10 rise is better than nothing

just 3 years ago a $10 rise was = to 300% now its just meh, I used to piss my self with a $5 rise.

[Newbie1022]

What I don't get is this. If somebody either day trades or even, God forbid, moves in and out a few times they are castigated on here and told that the gods will skullf--- them by leading to them missing a thousand point jump -- thus, everybody hodls and this behavior is reinforced in the group through negative stimuli and punishing posts. BUT, then you complain about there being no volume. THEN, you wonder why amazing news leads to a five point turn. THEN, you wonder where the bubble is.

You know why there isn't a bubble? Hoarding! It is deflationary... but not only in the way you hope for it to be. So, you want a bubble... grow some balls, make some moves, and don't get irritated at the people making moves. Because you know what, we ought to be at 800 today... the Dell news is extremely positive news for broad scale adoption and news like this, in any other functioning market, projects towards who else would be adopting next. In a nutshell, don't give people grief for facilitating functioning markets. Play your hand, cut the group psychosis s--- because over the past few months it has cost us all a lot of money.

[dgarcia]

Dell accepting Bitcoin is bad sign for the short term price

it seems to be a non-event at the moment. the market doesnt care much about that news.

A $10 rise is better than nothing

I'm very sceptical in short term , but to be honest, it looks like ~630/635 is a resistance. Market seems like frozen between a short area of support and resistance, so any hit could effect a chain reaction. Maybe this dell news could give a small hit to the upside and releasing it from the mud where bitcoin is stucking.

[ChartBuddy]

Explanation

[justusranvier]

just 3 years ago a $10 rise was = to 300% now its just meh, I used to piss my self with a $5 rise.

All this good news and we're still lower than we were two weeks ago.

The time to get excited is when we cross $660 again.