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

[Torque]

Yes, bitch please.  The dumpers are gonna bring us right back below $499 very soon.

Are you shroomsy reloaded?

Lol.  I don't know why you guys keep saying that Shroomy is a troll.  I can tell he's a perma-bull who's just become a jaded realist over time, like me.  His skeptical observations and cynicism about the market over the past 10 weeks have been dead on accurate.  I don't consider that trolling, just calling it like he sees it.

And if we go up from here, I'll be ecstatic.  But until I see some real, sustained volume and we can even break $550 again, I'll remain cynical too of these little bull traps.

You are both overemotional immature 'investors' who just can't accept the way markets work which turned you into professional whiners on this forum. Good that you're no longer a perma-bull, I guess that's the first step towards enlightenment.

Seriously?  So who trolling who now?  Not falling for bullshit bull traps is not whining.  Saying that good news correlates with the market likely going down, instead of up, is not whining.  These are observations anyone with a brain can go back and observe ever since we were at $680.

And I haven't sold anything since $800, still holding and accumulating.

[oda.krell]

Looking pretty good short term. I think Bitfinex is dragging the others up as people re-leverage.

Finally some volatility again!

Yeah, turns out that Bitfinex actually can lead the market nowadays. Even the Chinese are following.

Say what you want about their code base etc, but the past few days have actually improved my opinion of finex. I'm even re-filling my account there (after leaving about 3/4 year ago when I was angry at their pr dude)

[ChartBuddy]

Explanation

[N12]

Looking pretty good short term. I think Bitfinex is dragging the others up as people re-leverage.

Finally some volatility again!

Yeah, turns out that Bitfinex actually can lead the market nowadays. Even the Chinese are following.

Say what you want about their code base etc, but the past few days have actually improved my opinion of finex. I'm even re-filling my account there (after leaving about 3/4 year ago when I was angry at their pr dude)

For me it's the exact opposite, but that's because of things like this: http://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

What I like about them is the BTC transparent audits, but I really dislike their selective meddling in matters. They're overprotective of lenders and won't let them assume any risk which they proved in February when they reversed people's trades who bid low. Now they're speculating with regards to arbitrage @ Bitstamp (What are they going to do if Bitfinex grows even more and there is hardly anyone to arb with?) and deciding whose orders should be slowed when that could cost the trader. This is a slippery slope and I don't want to see where it will end up. When I trade Bitcoin, I don't want to have to predict the actions of the Bitfinex team.

Bitfinex is nice for lenders and for people who like margin; for me personally, not so much.

[damnek]

Looking pretty good short term. I think Bitfinex is dragging the others up as people re-leverage.

Finally some volatility again!

Yeah, turns out that Bitfinex actually can lead the market nowadays. Even the Chinese are following.

I think the market is really trading different from how it used to be. Maybe a certain class of traders packed their bags and left after the MtGox fraud? It just seems that there's no more real weight (as in volume and velocity) behind bounces after a sell-off. I'd love to see some of that come back..

[N12]

Looking pretty good short term. I think Bitfinex is dragging the others up as people re-leverage.

Finally some volatility again!

Yeah, turns out that Bitfinex actually can lead the market nowadays. Even the Chinese are following.

I think the market is really trading different from how it used to be. Maybe a certain class of traders packed their bags and left after the MtGox fraud? It just seems that there's no more real weight (as in volume and velocity) behind bounces after a sell-off. I'd love to see some of that come back..

I think what you're looking for may be Willy.

[damnek]

Looking pretty good short term. I think Bitfinex is dragging the others up as people re-leverage.

Finally some volatility again!

Yeah, turns out that Bitfinex actually can lead the market nowadays. Even the Chinese are following.

I think the market is really trading different from how it used to be. Maybe a certain class of traders packed their bags and left after the MtGox fraud? It just seems that there's no more real weight (as in volume and velocity) behind bounces after a sell-off. I'd love to see some of that come back..

I think what you're looking for may be Willy.

Didn't Willy just buy at a constant rate? All I'm asking for is to get more of the panic-dumping-and-then-reversing back, lol. But yeah, since the MtGox closure it all seems really bearish.

[fonzie]

BITFINEX WILL LEAD US TO 100000$

[N12]

BITFINEX WILL LEAD US TO 100000$

TO THE SUN

[Newbie1022]

Gang... let's make some money. Time to lever it up!!! Even if, on some odd freak chance, we didn't find a bottom... we have a clean approximation of where it is now. Ergo, let's have fun, now.

[fonzie]

Gang... let's make some money. Time to lever it up!!! Even if, on some odd freak chance, we didn't find a bottom... we have a clean approximation of where it is now. Ergo, let's have fun, now.

MARGIN BUY ALL YOU CAN!!!!

[Newbie1022]

Did I mention, I think now is really a good time to BUY BUY BUY BUY BUY BUY BUY!!!! We've struck the Ocean floor... time to swim!!!

[Wandererfromthenorth]

I think we already reached the bottom, what y'all think?   https://bitcointalk.org/index.php?topic=741715.0

[mmitech]

Did I mention, I think now is really a good time to BUY BUY BUY BUY BUY BUY BUY!!!! We've struck the Ocean floor... time to swim!!!

nah, I think we are still far away from the bottom, not going to buy....just not yet.

[fonzie]

[roslinpl]

Explanation

Will we get below $500 today? Any predictions?

As mine was always bullish ... but now I just hell don't know
For now I stay calm and quiet and I have some popcorn in the kitchen if any rally will come I am prepared! =]

[fonzie]

[Newbie1022]

Explanation

Will we get below $500 today? Any predictions?

As mine was always bullish ... but now I just hell don't know
For now I stay calm and quiet and I have some popcorn in the kitchen if any rally will come I am prepared! =]

Play your own hand... if you aren't sure then it is fair to sit on the sidelines. I've gone all in because we broke upwards and broke the negative channel. That said, a new slice of news could pop up and with how shaky the market is it could spell trouble. So entering before a rally has really gotten strong footing is very risky business. I am taking that risk. In a nutshell, others also saw this as the bottom and they are starting to lever up. Bitfinex and its crazy leverage seem to be in the driver seat, now.

[oda.krell]

For me it's the exact opposite, but that's because of things like this: http://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

What I like about them is the BTC transparent audits, but I really dislike their selective meddling in matters. They're overprotective of lenders and won't let them assume any risk which they proved in February when they reversed people's trades who bid low. Now they're speculating with regards to arbitrage @ Bitstamp (What are they going to do if Bitfinex grows even more and there is hardly anyone to arb with?) and deciding whose orders should be slowed when that could cost the trader. This is a slippery slope and I don't want to see where it will end up. When I trade Bitcoin, I don't want to have to predict the actions of the Bitfinex team.

Bitfinex is nice for lenders and for people who like margin; for me personally, not so much.

Mhm. I read that one as well. Part of the reason I said, my opinion's more favorable of them lately.

Here's my take on it: I don't like meddling by the exchange with the market either. In an ideal platonic realm of instantaneous order execution, zero fat fingers, and guaranteed lack of insider knowledge on the position of leveraged positions, there should be zero interference, granted. However, that's not the case. Finex is trying to navigate this situation, and I see their current approach (slowdown, like a selective circuit breaker) as far from ideal, but a huge improvement over what happened last time (when they reversed trades). This market is thinly traded, and offering leverage in that environment is perhaps a mistake to begin with. But seeing that their volume is growing, and the drop of two days ago (whether it was a margin call cascade or not) was comparably contained, I'm concluding they're doing okay.

That said, what I'm planning to put into finex is a fraction of what I'd keep in stamp. The latter is, imo, still the "safest" of the big exchanges, if for no other reason that they don't offer leverage.

[fonzie]