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

[Pruden]

monkey says buy, so i buy now.

You mentioned you monkey worked on mean-reversion. What happens if it turns out the sample data we have is not relevant to the current situation? That is, what if Bitcoin price action has entered a new era?

[kurious]

Aminorex's monkey is getting better. 

Trust it, I am.

Lock and load. Buying now...

[Sandia]

I chickened out on the big short.  The 560 wall went away, but that 557 wall is still there, so I lost a chance at a small profit.

I am going all in at 551, I think.   If it goes down to $540, that is only a 2% difference in price.  I can't see anything on the charts that says lower.

[ChartBuddy]

Explanation

[cryptworld]

don't understand why this dump is caused

[solex]

Argentina defaults!

Debt defaults are good for fiat currencies because bankruptcy is the cleansing mechanism of fractional reserve banking. In the case of sovereign debt there are different scenarios based upon whether the debt is in domestic or foreign currency. Argentina has shown that it will print any amount of pesos to pay off government and financial sector debts - denominated in pesos. The problem here is that it owes dollars and can't print them. The Federal Reserve can print dollars, and could bail out Argentina, just has it has done many stealth bailouts of foreign institutions since 2007/8.

tldr; if the Fed prints dollars to bail out Argentina then this is good for Bitcoin. Argentina defaulting shows this is not happening, so should be btc neutral.

[chromosoma]

That's it,  crypto ponzi is going to POP. Big people earned enough money, now it is time to exit.

[empowering]

Argentina defaults!

Debt defaults are good for fiat currencies because bankruptcy is the cleansing mechanism of fractional reserve banking. In the case of sovereign debt there are different scenarios based upon whether the debt is in domestic or foreign currency. Argentina has shown that it will print any amount of pesos to pay off government and financial sector debts - denominated in pesos. The problem here is that it owes dollars and can't print them. The Federal Reserve can print dollars, and could bail out Argentina, just has it has done many stealth bailouts of foreign institutions since 2007/8.

tldr; if the Fed prints dollars to bail out Argentina then this is good for Bitcoin. Argentina defaulting shows this is not happening, so should be btc neutral.

http://www.aei-ideas.org/2014/07/the-fall-out-from-an-argentine-default/

 "A default now would almost certainly trigger more capital flight from the country, which would severely impact the Argentine currency and cause inflation to ratchet up further. More serious yet, a default now would keep Argentina locked out of international capital markets for many years to come, which would severely constrain the country’s longer-run economic growth prospects."

[empowering]

That's it,  crypto ponzi is going to POP. Big people earned enough money, now it is time to exit.

Good one 

[lemonte]

That's it,  crypto ponzi is going to POP. Big people earned enough money, now it is time to exit.

Good one 

Just re reading Chromosoma's posts.. Hilarious, calls for $300 at every tiny drop! He/she sounds like a broken record.

[kurious]

We overshot a little, but 560 has good support...

Fingers crossed (and yep, I have been buying)

[adamstgBit]

i guess i'll join the party and buy some myself...

kinda went all in at 636CAD, but i always keep a couple thousand just incase i feel like "over extending" my position, i guess now is a good time for that

i'd be lying if i said i didnt have any doubts... fuck man, am i positioning myself in a conner  

time will tell

[chromosoma]

i want to see BTC dead tonight. POPcorn ready.

[empowering]

i want to see BTC dead tonight. POPcorn ready.

Yeah man... if you stay up all night it will be $0 - do not sleep.

[megashira1]

reason for recent dip?

[InstantBitcoin]

don't understand why this dump is caused

mmonkeys?   >>>    BTCBTCBTCBTCBTCBTC
 

[barbs]

VIOLINS

PLAYING SO GOOD

WON'T STOP

[chromosoma]

[drez]

Everyone stop panicking.  This is following what I said earlier today.  We are past the second horizontal,  but it still could hold which means we will be following a triangle to a point before a crash or a moonshot.  But what I think will happen is 560 will break and then we will rally around 540 in keeping with the slight downward trend from June first.  If there isn't a rally there then  or 540 won't hold,  then the long term trend should keep it above 515.  If that fails.  We are in for a ride and I expect some crazy action.  

http://imageshack.com/a/img536/8384/OyNafd.png

[Dump3er]

THIS IS CRASHING!!!

WE ARE GOING BELOW ZERO!!1