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

[JayJuanGee]

I am wondering whether it is time to buy or not. No sleep for me, I guess.

i guess a good night sleep isn't very valuable to you?

most common rookie bitcoiner mistake.

set an order and get some sleep...

yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.

Thanks for your concern.   I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while...

This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.

Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500.  Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now?  If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest.  or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.

It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.

I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.

He's telling you to catch a falling knife.  LOL.   Bad advice

thats not what hes saying

hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower.

Exactamente!!!!!  The plan of investing while the price is going down does NOT need to be exactly how I described it b/c I quickly outlined a viable way to think about preparing for downward BTC price manipulations.

For example, I have had about $800 of BTC allocated in fiat for over a month, and I have been just waiting and waiting and waiting for when to buy with that $800.  In about a week, I have another $2,000 coming in.  That $800 will become $2800.  I will probably buy about $1,400 with that, and just wait to see what happens regarding the other $1,400.  I hate to run out completely of BTC allocated fiat - just in case the BTC price goes down some more.

[JayJuanGee]

I am wondering whether it is time to buy or not. No sleep for me, I guess.

i guess a good night sleep isn't very valuable to you?

most common rookie bitcoiner mistake.

set an order and get some sleep...

yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.

Thanks for your concern.   I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while...

This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.

Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500.  Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now?  If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest.  or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.

It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.

I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.

He's telling you to catch a falling knife.  LOL.   Bad advice

thats not what hes saying

hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower.

A plan is having a stop loss.   Not keep buying as the price falls.   Thats the worse advice to give someone.   

In reality, we each have to come to our own conclusions concerning our beliefs of the long-term viability of BTC.  There may be a need for a stop loss, but really, I believe that a stop loss may depend upon news that BTC is broken, or something like that.... the trigger of a stop loss will likely be different for different people.

[cro]

I am wondering whether it is time to buy or not. No sleep for me, I guess.

i guess a good night sleep isn't very valuable to you?

most common rookie bitcoiner mistake.

set an order and get some sleep...

yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.

Thanks for your concern.   I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while...

This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.

Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500.  Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now?  If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest.  or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.

It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.

I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.

He's telling you to catch a falling knife.  LOL.   Bad advice

thats not what hes saying

hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower.

Exactamente!!!!!  The plan of investing while the price is going down does NOT need to be exactly how I described it b/c I quickly outlined a viable way to think about preparing for downward BTC price manipulations.

For example, I have had about $800 of BTC allocated in fiat for over a month, and I have been just waiting and waiting and waiting for when to buy with that $800.  In about a week, I have another $2,000 coming in.  That $800 will become $2800.  I will probably buy about $1,400 with that, and just wait to see what happens regarding the other $1,400.  I hate to run out completely of BTC allocated fiat - just in case the BTC price goes down some more.

'Twas a good read, gents. Thank you. I guess that I'll observe charts for a while and then I'll decide how much to spend on my first BTC order.

[JayJuanGee]

I am wondering whether it is time to buy or not. No sleep for me, I guess.

i guess a good night sleep isn't very valuable to you?

most common rookie bitcoiner mistake.

set an order and get some sleep...

yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.

Thanks for your concern.   I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while...

This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.

Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500.  Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now?  If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest.  or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.

It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.

I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.

He's telling you to catch a falling knife.  LOL.   Bad advice

I don't think so.  If you believe in the fundamentals, then you believe that ultimately the price is going to go up.  Each investor has to come to their own conclusions regarding what they believe based on the information that they have at their disposal.. and sometimes there are leaps of faith involved in such beliefs.

What fundamentals?   A purely speculative asset has no fundamentals

The only real economy where things were priced in bitcoins was silk road

You can conclude until you are blue in the face that we should treat BTC like any other asset class or to suggest that it is NOT tangible and throw out a variety of other mainstream derogatory arguments, but that does NOT change the fact that BTC has several innovations that have NEVER been tried before in the same vehicle.  I am NOT going to go through and argue all the basics of BTC and BTC 101 - b/c those have been batted about through all kinds of forums, including this thread.  You may need  to read up, if you believe that BTC is some flash in the pan pump and dump.  BTC has continued extended adoption and continued and extended investments and continued and extended liquidation avenues.  IN other words, BTC prices are going up, it is just a matter of time, whether it is this week or whether it is within the next year or possibly, worse case scenario a little longer than that....

In any event, the odds are that BTC prices will be going to $700 and beyond in the next few months and then past $850 and into the $3k to 5K range by mid 2015.  Surely, this prediction may be off a little bit, but the idea remains that BTC is on its way up, rather than down.

[Bitcoin_is_here_to_stay]

Why is this sudden dump?

Apparently it started in China, several minutes before Bitstamp/Bitfinex.

Hm? Dump started on BFX

People selling because a rally isnt coming.

Is there better source of info on the current amount of Bitfinex longs than this https://www.bitfinex.com/pages/stats?

It seems that the info there is very delayed.

Btw, Finex longs still hovering around 30M, despite all this falling. Strange.

[ChartBuddy]

Explanation

[JorgeStolfi]

Hm? Dump started on BFX

It seems to have started around 2:00 UTC on Huobi and OKCoin, and at about 2:12 on Bitfinex.  At 2:12 the Chinese exchanges were already halfway through it.

I cannot prove that the late May pump and the recent dumps have Chinese causes, but at least there are some relevant events and vaguely possible explanations in that bucket, but none in the "Western thing" bucket.

[derpinheimer]

Hm? Dump started on BFX

It seems to have started around 2:00 UTC on Huobi and OKCoin, and at about 2:12 on Bitfinex.  At 2:12 the Chinese exchanges were already halfway through it.

I cannot prove that the late May pump and the recent dumps have Chinese causes, but at least there are some relevant events and vaguely possible explanations in that bucket, but none in the "Western thing" bucket.

There was a 400BTC sell on BFX @ 1:42

[kodtycoon]

Any lower and we'll be in the despair stage.

 

doesnt it need to go to that stage before it will bubble..

im in that stage already lol

[JayJuanGee]

I am wondering whether it is time to buy or not. No sleep for me, I guess.

i guess a good night sleep isn't very valuable to you?

most common rookie bitcoiner mistake.

set an order and get some sleep...

yeah, after being sleep deprived and feeling deranged, i don't think you'd be in the best situation to make the right call.

Thanks for your concern.   I would buy some BTC straight away as I was about to for some time if it wasn't for this "will it fall terribly low or go up?" situation, really. I'm not afraid of fluctuations, but when people say the price may fall to 500$ it may be better for me to wait for a while...

This BTC investment matter does NOT need to be all or NOTHING, and really it remains quite risky to attempt to predict the market exactly.

Let's say that you have $1,000 that you want to invest in BTC;however, you are worried about whether the price will go down to $500.  Well, why don't you use approximately half of the $1,000 ($500), and buy some BTC now?  If the price goes down to $500, then you can use the other $500 or at that point you may have more to invest.  or if at that point you believe it is going down some more, then buy another $250 and wait to see if BTC prices go down more.

It is generally less safe to attempt to time the market and attempt to bet all or NOTHING b/c inevitably it remains difficult to predict.

I just didn't wanted to wake up with knowledge that I could have waited one day and buy for a better price. It's hard to argue with your logic, though. I will follow your advice. Cheers.

He's telling you to catch a falling knife.  LOL.   Bad advice

thats not what hes saying

hes saying, realize you are not a god and there for cannot predict price movement, so dont try, just have a plan should it go lower.

Exactamente!!!!!  The plan of investing while the price is going down does NOT need to be exactly how I described it b/c I quickly outlined a viable way to think about preparing for downward BTC price manipulations.

For example, I have had about $800 of BTC allocated in fiat for over a month, and I have been just waiting and waiting and waiting for when to buy with that $800.  In about a week, I have another $2,000 coming in.  That $800 will become $2800.  I will probably buy about $1,400 with that, and just wait to see what happens regarding the other $1,400.  I hate to run out completely of BTC allocated fiat - just in case the BTC price goes down some more.

'Twas a good read, gents. Thank you. I guess that I'll observe charts for a while and then I'll decide how much to spend on my first BTC order.

By the way, when there is quite a bit of increase volume and downward pressures, it may be good to wait to attempt to buy at a low point.  A problem with this; however, is that  the trend could reverse at any time and then downward turns into upward.

[derpinheimer]

Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha

[adamstgBit]

Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha

 i am 1 of 4

[MoreFun]

Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha

 i am 1 of 4

Fonzie is the second and Risto the third, who is the fourth? I'm sure it is not Blitz 

[adamstgBit]

583.IThinkI'mGoingToPuke!

fuck this, bed time.

[cbeast]

I've been expecting this, but not so soon. I just hope the bounce can wait until the end of August.

[Davyd05]

I've been expecting this, but not so soon. I just hope the bounce can wait until the end of August.

money freed up by then. I've been lazy to put the excess fiat to the exchange so I can set order for a true panic sell if they occur..

[JayJuanGee]

583.IThinkI'mGoingToPuke!

fuck this, bed time.

Don't Puke.    HODL!!!!!,   HODL!!!!!!,   HODL!!!!!!

[spiderbrain]

Down 5% in a week. Yawn.

[sidhujag]

looks like I was right about the wedge breaking into a bear. So I think we are headed to $350 to $400... cya there

[BitChick]

Within hours of the new poll, 4 ultra-bulls are already proven wrong. Hahaha

 i am 1 of 4

2 of 4.  

Oh well.  It really isn't that big of a "crash."  

I still don't get why people do not see the significance of a hedge fund opening this Friday.  That might change everything quickly.  

I would be panic buying based on that news alone.  Granted, I am "all in" so I have nothing more cash to throw in at this point.