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

[David M]

...SNIP... market awareness has been raised and it will take much more than some top company in to bring bitcoin up to $2, 3, 4, 10k. imho, some good ol' economical crisis would be a fit tho.

I don't think "market awareness" is the factor.  The price run up in late 2013 was (IMHO) based on major merchant acceptance in 2014. 

Just how many major merchants accept Bitcoin will be the speculation amongst those who bought in during the run up.

[Ivanhoe]

It's all about the price, when people understand we won't get down anymore they will buy. This will result in more people buying in and chasing the price. A new hype cycle will start soon. Just have patience.

[edwardspitz]

Tinfoil hat on:

During the past few weeks the market has felt manipulated and the manipulation has been going on at Stamp. Like I have mentioned earlier: I would target Stamp if I wanted to manipulate the whole market using as few resources as possible. It has been possible to day trade this if you bought near support and sold/shorted near resistance. My DIY T/A lines have worked well... almost too well, like the whole thing is run by a machine... maybe Jorge is right that someone is trying to keep the market stable this summer. I sense that the wedge pattern (with lower highs) that we have seen up until now is changing. Today we have seen a higher low, and I would not be surprised if we see $640 before $620. Please note that my idea about the pattern change is just a hunch.

[ChartBuddy]

Explanation

[Newbie1022]

If you would have told me in 2011, 2012 or 2013 that the week DELL announced that it was accepting Bitcoin, would be a "down week", I would have laughed in your face.
http://bitcoincharts.com/charts/bitstampUSD#rg360zigWeeklyztgCzbgEza1gWMAzm1g13za2gWMAzm2g52zvzcv
We are 3 bucks under at the moment (last week closed at $630 Bitfinex).

this is exactly why we aint going anywhere for a "long" time. market awareness has been raised and it will take much more than some top company in to bring bitcoin up to $2, 3, 4, 10k. imho, some good ol' economical crisis would be a fit tho.

We'll be at 645 in t-minus three hours. We need to figure out how to get more volume, though.

[Sandia]

I mean we're assuming everyone has fiat waiting on exchange to fire on the announcements of merchant acceptance, which I don't as I've met my hodling goals. My second assumption is that the new bubble will be majorly made of up those who owned no bitcoins.

There are a lot of traders sitting on fiat, waiting for a clear direction in the market.  If we broke $680, most would buy back in.  Otherwise, agreed, we need a lot of new money to get moving.

The CEX.io exchange is also good news.  They will need to keep coins as a reserve, not dump them all on the other exchanges.

[theonewhowaskazu]

I think that the things that drive BTC price up most is those that iNC enticing people to hold it, not spend it. Like when they think that fiat can be confiscated (cyprus). The rest helps but is slower.

[Davyd05]

I mean we're assuming everyone has fiat waiting on exchange to fire on the announcements of merchant acceptance, which I don't as I've met my hodling goals. My second assumption is that the new bubble will be majorly made of up those who owned no bitcoins.

There are a lot of traders sitting on fiat, waiting for a clear direction in the market.  If we broke $680, most would buy back in.  Otherwise, agreed, we need a lot of new money to get moving.

The CEX.io exchange is also good news.  They will need to keep coins as a reserve, not dump them all on the other exchanges.

not so sure, maybe new traders, I would've been back in at 330-400 if I had fiat in my account.

However along the manipulation lines...I think it's more of people waiting for the herd...no1 is going crazy now we have the dumper making sure of that but if we had the buyers of November we'd have cleaned this mystery dumper out.

I consider dell news worthy of rounding up new joiners by next week. Takes a bit for the info to be believe and digested. Then signing up at an exchange or heading to a bitcoin atm, just takes time.

[solex]

Nothing like another euro-banking crisis to add some fuel to the fire.

http://www.zerohedge.com/news/2014-07-18/holding-company-portugals-2nd-largest-bank-just-filed-bankruptcy-protection

Unlike March 2013 when few Cypriots were aware of Bitcoin, the safe-haven meme should have spread much further within Portugal by now.

[Newbie1022]

Rupert Murdoch aiming to buyout CNN in order to have a cable news monopoly = impending collapse of society. Buy buy buy buy buy buy buy buy buy!!!!!!!!!!!!!

P.S. -- CNN already kinda sucks, but Jeez.

[hdbuck]

Nothing like another euro-banking crisis to add some fuel to the fire.
http://www.zerohedge.com/news/2014-07-18/holding-company-portugals-2nd-largest-bank-just-filed-bankruptcy-protection
Unlike March 2013 when few Cypriots were aware of Bitcoin, the safe-haven meme should have spread much further within Portugal by now.

wasnt it russian oligarchs that moved from cyprus? cuz i doubt there is money *still hiding in portugal..

[600watt]

Dell is saying that it only took two weeks to get it done. "an example of the new agile dell"

the third largest private owned company of the u.s. tells the world that bitcoin is easy, secure and "agile"


this is big, imho

[findftp]

Dell is saying that it only took two weeks to get it done. "an example of the new agile dell"

the third largest private owned company of the u.s. tells the world that bitcoin is easy, secure and "agile"


this is big, imho

For me it was Kim dot com announcing that he would accept bitcoin for payment.
I know exactly the moment I read it,.. I was like 
I immediately bought some satoshis because that was the moment for me to take bitcoin seriously as currency.
If other people share the mindset, Dell is indeed bigger, much bigger.
I could not resist to add some extra satoshis to my account today. Just to continue my strategy.
 

[BrewCrewFan]

What I dont get is how good news after good news comes out, BTC hardly moves up... yet the first sniff at something negative, the markets tank, though short lived most times, but the reaction is so much more quicker.

[dgarcia]

.no1 is going crazy now we have the dumper making sure of that but if we had the buyers of November we'd have cleaned this mystery dumper out.

Crazy dumper is surely a offshore buyer. Buying high offshore, selling low on exchanges. A financial troll. After each dump he's reading the Wall Observer:

[criptix]

.no1 is going crazy now we have the dumper making sure of that but if we had the buyers of November we'd have cleaned this mystery dumper out.

Crazy dumper is surely a offshore buyer. Buying high offshore, selling low on exchanges. A financial troll. After each dump he's reading the Wall Observer:

that just made my day 

tbh i gonna stock up on bitcoins too, dell accepting bitcoin is definitly big

[aminorex]

What I dont get is how good news after good news comes out, BTC hardly moves up... yet the first sniff at something negative, the markets tank, though short lived most times, but the reaction is so much more quicker.

It works the same way analog/classical/legacy securities markets work:  When there's good news, the market reacts in horror; when there's bad news, the market reacts with glee.

In the liar's promises market, this is understood to be because the prices are set by Fed policy, and when there is bad news, the fed makes policy drag risk up, while when there is good news, the fed is likely to allow slightly more rational risk discounting.

Why it happens in the honest proofs market as well?  I suspect the fiat pricing means the same risk discounting impact that applies to the vapor-at-the-break-of-dawn market gets applied to fiat-priced eternal verity market.  Fiat creates a web of illusions, and most of the fiat is held in the hands of unenlighted atavist ur-humans.

[ChartBuddy]

Explanation

[theonewhowaskazu]

What I dont get is how good news after good news comes out, BTC hardly moves up... yet the first sniff at something negative, the markets tank, though short lived most times, but the reaction is so much more quicker.

It works the same way analog/classical/legacy securities markets work:  When there's good news, the market reacts in horror; when there's bad news, the market reacts with glee.

In the liar's promises market, this is understood to be because the prices are set by Fed policy, and when there is bad news, the fed makes policy drag risk up, while when there is good news, the fed is likely to allow slightly more rational risk discounting.

Why it happens in the honest proofs market as well?  I suspect the fiat pricing means the same risk discounting impact that applies to the vapor-at-the-break-of-dawn market gets applied to fiat-priced eternal verity market.  Fiat creates a web of illusions, and most of the fiat is held in the hands of unenlighted atavist ur-humans.

Or... humans are just risk averse.

[BTCfan1]

looks like the 635 wall on stamp is going to get eaten....very slowly........................