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

[mooncake]

You can see from Finex's swap activities that it is getting ready for the pump. 

[JayJuanGee]

580$ is the new launch pad, no one seems to be willing to sell below anymore! Walls will be removed and/or get demolished soon! Ready to lift off!


800$ INCOMING !!!!!!

I sir hope you are correct....I want my $1,100 BTC price back from last Nov 2013 or whatever ....( i started mining in Oct 2013) to me $1,100 for BTC is 'normal'
anything after that date/price and as 'low' as we see now... I am 'not' fine with......but as a result of my 'exuberant expectations' and my newbie bitcoin youth
I find around $580 to
$600 WAY WAY too low ......I mean really...it ain't bounced back yet?.. .thus i have a 'expectation issue' so to speak..the dreaded....

*pucker problem*

at that $600 usd to BTC price point don't ya know heh

So for my piece of mind...lets see some movement up to that nice $1,100 usd that can be our NEW baseline ..and the newbies of Fall 2014 can deal with their
own expectations/pucker problem from that price point on ....over our 'new' baseline

(Its all about me 'damn it".........)

Searing

Once BTC prices go past $850, they are NOT going to linger in the $1,xxx price range, they are going to shoot into the $3k to $5k price range, and then they may come back down into the lower $2,xxx price range as the new base.   Sorry to break the news to you.

On the other hand, it is really tough to predict when exactly, BTC prices are going to move passed $850... maybe within the next 1-6 months?   ?

Doesn't look to be happening this week...

There may be a few heart attacks in the BTC sphere if such sudden and unexpected price rise would occur..

Personally, I am quite doubtful that there will be any straight up rocket propelling taking place until after $850... b/c any time before $850, there are likely to be successful attempts to take profits and to move the price back down for periods of time.

[JayJuanGee]

Are we waiting for a catalyst (like Amazon accepts Bitcoin etc.) or are we expecting these to take off for no apparent reason?

It seems unlikely that various pieces of good news will provide impetus for BTC price rises, by themselves (we have already repeatedly witnessed the lack of BTC price appreciation based on good news).  Instead, it seems that we need some kind of bad news, like a government shut down or a currency collapse or some other negative event... - or maybe just the chinese going crazy with their persistent and sustained btc buying (and/or fake BTC buying manipulation)

[Searing]

580$ is the new launch pad, no one seems to be willing to sell below anymore! Walls will be removed and/or get demolished soon! Ready to lift off!


800$ INCOMING !!!!!!

I sir hope you are correct....I want my $1,100 BTC price back from last Nov 2013 or whatever ....( i started mining in Oct 2013) to me $1,100 for BTC is 'normal'
anything after that date/price and as 'low' as we see now... I am 'not' fine with......but as a result of my 'exuberant expectations' and my newbie bitcoin youth
I find around $580 to
$600 WAY WAY too low ......I mean really...it ain't bounced back yet?.. .thus i have a 'expectation issue' so to speak..the dreaded....

*pucker problem*

at that $600 usd to BTC price point don't ya know heh

So for my piece of mind...lets see some movement up to that nice $1,100 usd that can be our NEW baseline ..and the newbies of Fall 2014 can deal with their
own expectations/pucker problem from that price point on ....over our 'new' baseline

(Its all about me 'damn it".........)

Searing

Once BTC prices go past $850, they are NOT going to linger in the $1,xxx price range, they are going to shoot into the $3k to $5k price range, and then they may come back down into the lower $2,xxx price range as the new base.   Sorry to break the news to you.

On the other hand, it is really tough to predict when exactly, BTC prices are going to move passed $850... maybe within the next 1-6 months?   ?

heh if what you say is 'true' I will accept the "heartbreak" (poor Searing alas price dropped from 3k to 2k ...the horror)

sure hope your right....me I always pick wrong so punting all this over to others who won't 'jinx' the works

(BTC at 2K I'm all tingly now with anticipation...dang ankle bracelet! (kidding really)

Searing

[ChartBuddy]

Explanation

[empowering]

opportunity is knocking i'm looking to load up big time, and i see i don't have much time! time to buy!

Define "big time"  something like 2 BTC?

What has gotten into you today JayJuan?   

[JayJuanGee]

opportunity is knocking i'm looking to load up big time, and i see i don't have much time! time to buy!

Define "big time"  something like 2 BTC?

What has gotten into you today JayJuan?   

Hehehe... Adam did NOT answer the question, and it seems to me that at other times, I have (and others too) tried to coerce Adam into disclosing his BTC holdings and/or BTC trading activities...  NO luck so far...     

[ChartBuddy]

Explanation

[johnwest]

Explanation

Market still in weekend mood, no movement at all.
Now we have to wait to wake up Amercian then we will see some movement.

Explanation

[BitChick]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

[mooncake]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

I was thinking the same. 

[ImI]

Btw they have a twitter account:

https://twitter.com/GABIjersey

[Moria843]

Will amazon and other big players accepting bitcoin cause the value to drop?

I'm thinking it will, since most use services like bitpay and it would make sense for them to sell the coins quickly. That would be a lot of selling that will probably offset good publicity.

For a large influx of bitcoins coming in, seems like it would make sense for bitpay and other big processors to sit on their reserves and just sell, and watch the price drop, and then build their reserves back up at the low price.

I hope somebody can tell me I'm wrong.  

[fonsie]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

I was thinking the same. 

They said they would take in orders during august and start buying in september, there was a lot of interest, even from small private banks worth a couple of billion, the smallest parties wich showed interest were willing to buy in the 5-10$ million range.

[fonsie]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

I was thinking the same.  

They said they would take in orders during august and start buying in september, there was a lot of interest, even from small private banks worth a couple of billion, the smallest parties wich showed interest were willing to buy in the 5-10$ million range.

Those that wanna pay using bitcoin, will buy first, so the effect is zero
Those that have bitcoin and are going to spend them, either buy using bitcoin or sell bitcoin and use fiat, either way the effect on price is the same.
So NO, merchants don't drive the price down, it's the people that spend or sell their bitcoin.

[ChartBuddy]

Explanation

[BitChick]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

I was thinking the same. 

They said they would take in orders during august and start buying in september, there was a lot of interest, even from small private banks worth a couple of billion, the smallest parties wich showed interest were willing to buy in the 5-10$ million range.

I only read that they will begin "trading" in September.  So this could be an accumulation time frame before the coins can be sold.  I wish that GABI was a little more transparent about what they are doing.  I don't like speculating this much. 

[Torque]

Will amazon and other big players accepting bitcoin cause the value to drop?

I'm thinking it will, since most use services like bitpay and it would make sense for them to sell the coins quickly. That would be a lot of selling that will probably offset good publicity.

For a large influx of bitcoins coming in, seems like it would make sense for bitpay and other big processors to sit on their reserves and just sell, and watch the price drop, and then build their reserves back up at the low price.

I hope somebody can tell me I'm wrong.  

No, it'll actually drop sharply at first because whale traders like to quickly flash crash the market, in order to buy up cheap coins before the good news makes the media rounds and the actual public buying starts.  In the next few days that follow, good news spreads quickly, more people buy, and the price naturally goes back up.  Then the whales slowly sell it back down, reaping their 10% profits along the way back down to where it was before the good news was announced.  Wash, rinse, repeat.

I'm surprised that others have not recognized this obvious pattern, as it has played out over and over and over again over the past 3 months.  Good news announcements have always been accompanied by an immediate sharp sell off.  The price rises, then slowly back down again.

[Dragonkiller]

So,  I was wondering if the Jersey Island Bitcoin fund, GABI, has a certain time of day for settlement of orders?  It seemed that there were some large purchases of coins made at the end of their work day on Friday!  If this is the case, then perhaps today we will see the same thing in a few hours?  (or at the end of each work day from this point)  I am hoping!  

I was thinking the same. 

They said they would take in orders during august and start buying in september, there was a lot of interest, even from small private banks worth a couple of billion, the smallest parties wich showed interest were willing to buy in the 5-10$ million range.

Source?

[mooncake]

There was significant buying last Friday. Will we see the same later today?

As expected. 
Time to load up.