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

[niothor]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.  

its funny I read Newbie1022, then saw i could get out of LTC with minimal losses, i was going for it, LTCs on there way to btc-e now...

but then fonzie knocked some sense into me.

I am talking short-term (next few days), anyways, whereas you are probably playing at least a middle-term game. You're a smart cat and they are very cheap historically now.

Specifically, I wonder whether people tossed the leverage behind BTC on the rally or behind Alts on the rally because the Alts would have a higher bounce. I suspect the latter and I think it is why they are still high on the day... I think that's where the leverage game moved to.

not at 5am after watching bitcoin recover 5-6% only to get smashed again

at this point, i'm all feeling no brains....

Alts are rallying because traders are like " oh shit my BTC is losing value better dump it for my fav alt NOW "

Sincerely I don't think alt are recovering right now because bitcoin started taking a few steps back.
Most of the alts started growing yesterday as bitcoin tried to go above 500 again.

When BTC was falling like a stone most of the markets took even a harder hit so what we see now might be traces of the optimism from yesterday when people were expecting a recovery.

[ShroomsKit]

Last dump before rebound ?

There won't be a rebound. 480 is the new price. My guess is we go sideways for a while and then get dumped on to 380. And repeat till something lifts us up again. But i can't think of anything that will do that.

[falllling]

There won't be a rebound. 480 is the new price. My guess is we go sideways for a while and then get dumped on to 380. And repeat till something lifts us up again. But i can't think of anything that will do that.

agreed but i say we go down to $300 after sideways, $480 is the new $680

[adamstgBit]

can't sell bitcoin because low, can't buy it bcause out of fiat, cant buy or sell LTC for the same reasons

technically i am in the best position i think i can be in, not a damn thing to do

so why can't i sleep!?  trying again....

Are all your coins safe in cold storage, so that you're sure you actually have them?

only 95% BTC is in cold
the LTC i kinda woke up drunk and had it on me, i don't know how that happened....

oh i c your saying i;ll sleep better if i know my crypto is safe.

oh i figured out security measures to ease my mind like 9 months ago.

i can;t sleep because.... idk

anyway trying to sleep i still got like 3 hours...

[AmazonStuff]

agreed but i say we go down to $300 after sideways, $480 is the new $680

Considering the current market situation, I think there will be no sideways, we can expect next moves very soon.

[Newbie1022]

can't sell bitcoin because low, can't buy it bcause out of fiat, cant buy or sell LTC for the same reasons

technically i am in the best position i think i can be in, not a damn thing to do

so why can't i sleep!?  trying again....

Are all your coins safe in cold storage, so that you're sure you actually have them?

only 95% BTC is in cold
the LTC i kinda woke up drunk and had it on me, i don't know how that happened....

oh i c your saying i;ll sleep better if i know my crypto is safe.

oh i figured out security measures to ease my mind like 9 months ago.

i can;t sleep because.... idk

anyway trying to sleep i still got like 3 hours...

Close the computer, lie down, close your eyes... see what happens next!

Cheers!

[Schickeria]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.  

its funny I read Newbie1022, then saw i could get out of LTC with minimal losses, i was going for it, LTCs on there way to btc-e now...

but then fonzie knocked some sense into me.

I am talking short-term (next few days), anyways, whereas you are probably playing at least a middle-term game. You're a smart cat and they are very cheap historically now.

Specifically, I wonder whether people tossed the leverage behind BTC on the rally or behind Alts on the rally because the Alts would have a higher bounce. I suspect the latter and I think it is why they are still high on the day... I think that's where the leverage game moved to.

not at 5am after watching bitcoin recover 5-6% only to get smashed again

at this point, i'm all feeling no brains....

Alts are rallying because traders are like " oh shit my BTC is losing value better dump it for my fav alt NOW "

Well smile and be well. I don't think the next down wave will break the last low anymore. I think if the sky was going to completely fall it would have done so by now.

When it rains, it poors. It just started to rain.
If she goes into madness-mode (no matter to which side), she tends to mount a drama.

[Phillis]

lets see which way this goes. Super low volume on stamp and bitfinex

[solex]

who votes 10 in a time like this?! ( pretty sure you're doing it right... )

The hash-rate is going mental, a few hundred million dollars are pouring into mining power. Gavin has outlined a concept (IBLT blocks) which makes Bitcoin far more scalable, the price is crushed low - the only way now is UP!

[Wafel16]

I would rate 6 on the level of optimism. Short term investments can be good sometimes but I have made more profit from long term.

[tarmi]

Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?

An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.

after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???

wild theory: maybe those are just finexBTC being lent?

those coins are from the btc-e dump to 350.

[ChartBuddy]

Explanation

[jeezy]

So, basically all of the alts are up big time and we are flat on the whole for the day. http://coinmarketcap.com/

1. So, does this mean that we are really supposed to be breaking the bear trend, now? (I don't think so... the bounce back was anemic and we haven't retested the low); OR

2. The alts didn't get the memo and the gamblers who took out leverage on those because they thought they'd go up faster are now doubling down on the bet to keep pumping the price and they are about to get uber-slaughtered.

I'm going with 3.) No one knows wtf is going on and the whales have successfully completed confused the minnows

Sounds good. Back to Plan A then: Buy, Hold, Repeat.

[JayJuanGee]

Sorry guys, I made this mistake of buying a coin to pay for something and now the Bitcoin gods are kicking me. Should I sell said coin, it will surely rise back up swiftly. I happen to be the worst trader of Bitcoin ever which is why I HODL.

The price does NOT matter, if you are buying a coin or a fraction of a coin to immediately pay for something else.. it's more or less a wash.. except to the extent that the price may move a little bit between you buying and selling....

These days whenever I use bitcoin to buy anything, I replace it within a reasonable period... (less than a week).. so my stash of accumulated bitcoins is never shrinking.

[Phillis]

lets go huobi!

[fonsie]

There won't be a rebound. 480 is the new price. My guess is we go sideways for a while and then get dumped on to 380. And repeat till something lifts us up again. But i can't think of anything that will do that.

agreed but i say we go down to $300 after sideways, $480 is the new $680

WHAT?

You promised us free coins!!!!!!!!!!!!!!!

[billyjoeallen]

So, basically all of the alts are up big time and we are flat on the whole for the day. http://coinmarketcap.com/

1. So, does this mean that we are really supposed to be breaking the bear trend, now? (I don't think so... the bounce back was anemic and we haven't retested the low); OR

2. The alts didn't get the memo and the gamblers who took out leverage on those because they thought they'd go up faster are now doubling down on the bet to keep pumping the price and they are about to get uber-slaughtered.

I'm going with 3.) No one knows wtf is going on and the whales have successfully completed confused the minnows

Um, yeah. If there is someone smarter than you with substantially more money, then he's probably going to take it from you.  Listen up, people: there are two things that we are doing here to provide value to the Bitcoin economy: We are either reducing volatility and making money, or we are contributing volatility and paying off the good traders and hopefully learning something in the process. WE are the decentral bankers of Bitcoin. We are the liquidity providers and we are also here to take away the punch bowl when things get too frothy. We are trying to do what central bankers would try to do if bitcoin had a central bank.  Now bitcoin is too volatile which means we are needed. The goal for most people here is to learn what the hell you are doing before you go broke. It's hard, but there is great opportunity for those with skill and a high risk tolerance.

Pay attention to the moving averages.  until the four hour cross, there is no real momentum at all and we can assume a bias to the down side. I missed the train on the shot up to $687 so I'm not risking all cash, but here we are back in the four hundreds, so all I really lost was three months and I still have the same money as if I rode the market up and back down. Make your money on the overshoots up and down, and have enough coin and fiat to profit if either happens.

[JayJuanGee]

You're not getting my coins for less than $1000. HODL.

if your going to hold through all this don't sell at 1K...

if its going to 1K again its going to 10K

I hope that you are correct; however, I am NOT as bullish as you.  I am currently thinking that if it makes it to $1k, then it will go between $3k and $5k; however, I like your scenario better than mine... and yours certainly seems possible.   In my mind, $3-5K seems more plausible... but what the fuck do I know.

[manfred]

Remember the days when bitcoin was down 93.08% from its all time high (closing price on June 8 2011 was $ 29.6 on Nov 18 2011 it was $ 2.049)

[billyjoeallen]

Remember the days when bitcoin was down 93.08% from its all time high (closing price on June 8 2011 was $ 29.6 on Nov 18 2011 it was $ 2.049)

This suffers from the same flaw as Pascal's Wager (Google it).  If you want to say hedge your bets by getting some litecoin, then the same argument holds for all other alts with an even shorter history and steeper exponential trendline. Darkcoin? There are over a hundred alts to consider. What, bitcoin isn't risky and volatile enough for you? Are you day trading or gambling?