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

[ShroomsKit]

People really want to test those bids in the $450-$480 range on BFX..

If real, I cant see a new bottom forming within the next 3 weeks - 2 months. If fake, then continue on to $350.

If its real and the bids get taken... well, uh. Thats really bad.

If we go below the 400, there will be no technical support to test before the 150's from last year.

Yes, I want buy some cheap coins, but I doubt we can survive sub-400 break for longer than some days without Bitcoin being seriously damaged.

Hope we bottom at the 400's.

This is what people here fail to understand. They just think going down, preferably to 100, is a good thing because they can buy cheap coins.
They fail to see that this thing won't just magically bounce back forever after every crash. There comes a time where people just say enough is enough and move on. I actually have a feeling that this is already happening on a small level at this moment.

If it's up to these idiot traders we drop back to 100 every 3 months. While ignoring it will totally damage the Bitcoin infrastructure and economy.
But their greed is infinite.

I keep saying it. You've had many, many years to buy cheap coins. Hoping a whole economy crashes just so you can buy a few coins (probably worthless by then) is just amazingly ignorant.

[InstantBitcoin]

go hunting levered longs and then crash the market?  O_o

could it be? they're that crazy?

how can anyone sleep in times like these  

lack of volume on top of uncertaintly and lack of insurances...Wall Street is still on summer vacation!!!   ez\/

ya i know what you mean...

poeple need to HODL!

^i for one believe in you ...however the skeptics are vicious !!!!    ~~~fangzzz out mr. honeybadger

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[MrPiggles]

Never realised how thinly traded this is.

You could move bitfinex and bitstamp up by $50 each with $2 million!!

[elebit]

can someone point to me the order books that people keep talking about?

http://bitcoinity.org/markets/bitstamp/USD

WARNING that Bitcoinity doesn't show even 10% of the Bitstamp order book, and hasn't done in months.

Sometimes the book looks completely flat in some direction but when you look at the official page there are some decent walls instead.

[NewLiberty]

Never realised how thinly traded this is.

You could move bitfinex and bitstamp up by $50 each with $2 million!!

Perhaps most exchanges are not on exchanges.

[MrPiggles]

can someone point to me the order books that people keep talking about?

http://bitcoinity.org/markets/bitstamp/USD

WARNING that Bitcoinity doesn't show even 10% of the Bitstamp order book, and hasn't done in months.

Sometimes the book looks completely flat in some direction but when you look at the official page there are some decent walls instead.

They look the same to me?

[MrPiggles]

Never realised how thinly traded this is.

You could move bitfinex and bitstamp up by $50 each with $2 million!!

Perhaps most exchanges are not on exchanges.

No shit sherlock.


People still use the "official" rate from the exchanges though and it'd be easy as fuck to manipulate those prices with a few million $

[Davyd05]

the btc dream lives on.. we should be dead by now. hehehe

also got my trezor this week, a week or so in shipping time...enjoying my experience with the hardware wallet

[jaberwock]

Why people care so much about Bitfinex? They don't have volume like the chinese, or even like Bitstamp, and I guess they don't even have a trollbox, like btc-e

[MrPiggles]

Why people care so much about Bitfinex? They don't have volume like the chinese, or even like Bitstamp, and I guess they don't even have a trollbox, like btc-e

The chinese exchanges are irrelevant too, it's bots trading with each other, it's too hard to get money on a chinese exchange now. The chinese are more or less out of bitcoin for now.

[elebit]

can someone point to me the order books that people keep talking about?

http://bitcoinity.org/markets/bitstamp/USD

WARNING that Bitcoinity doesn't show even 10% of the Bitstamp order book, and hasn't done in months.
Sometimes the book looks completely flat in some direction but when you look at the official page there are some decent walls instead.

They look the same to me?

Sometimes it does, sometimes it doesn't. Don't rely on it for trading!

(I didn't realise this a couple of months ago ... and it cost me.)

[heslo]

the btc dream lives on.. we should be dead by now. hehehe

also got my trezor this week, a week or so in shipping time...enjoying my experience with the hardware wallet

Mine came Friday, but wasn't here to receive it. Have to wait till Monday for the postman to bring it back

[ChartBuddy]

Explanation

[JorgeStolfi]

The chinese exchanges are irrelevant too, it's bots trading with each other, it's too hard to get money on a chinese exchange now. The chinese are more or less out of bitcoin for now.

Bots are people, too!

No, the Chinese are not "out of bitcoin" yet.  They may be getting out a bit now, and that may be why the price had a tiny correction over the last week, which you may have noticed.  When the Chinese will really get out of bitcoin, the price will probably drop to 100$ or less.

[jaberwock]

Why people care so much about Bitfinex? They don't have volume like the chinese, or even like Bitstamp, and I guess they don't even have a trollbox, like btc-e

The chinese exchanges are irrelevant too, it's bots trading with each other, it's too hard to get money on a chinese exchange now. The chinese are more or less out of bitcoin for now.

Hard to get money out of the chinese exchanges? True?

Are we about to see a Gox 2.0 with steroids?

[JorgeStolfi]

Hard to get money out of the chinese exchanges? True?

AFAIK CNY withdrawals via bank transfer are stil working.  CNY cannot be deposited by bank transfer, but Huobi apparently still has a rechargeable card system, and OKCoin had brokers who could move moey in.  There is no rstriction on BTC deposits or withdrawals.

But my impression, from the last CEO interviews I have seen, is that the long-term situation is not good, and they may lose even those limited CNY input chanels that they still have.  Hence their decision to open "international" branches.

[ShroomsKit]

And here we go again. These idiots just won't stop.

[ShroomsKit]

2k from the bid side gone. This can get ugly again.