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

[lemonte]

Yawn.. Why do I have to keep repeating myself with this? They haven't even begun yet.

I know that. The question is whether we will be able to follow their moves once they start.  (SMBIT publishes some data, and there is a thread devoted to digesting that data and deducing their weekly trading activity.)

Sorry Jorge, wasn't intentionally responding to you, rather who you were quoting initially!

[grappa_barricata]

[JorgeStolfi]

Jorge, when you refer to "the Chinese," do you mean their exchanges or fiat from Chinese traders, or both? I suspect any new fiat entering Chinese exchanges is from Coinbase. If that is the case, then the US is sustaining the price. Party ends when Coinbase runs out of options.

Yes, I meant the international branches.
Coinbase likely increased its usage of Chinese exchanges after Bitstamp stopped permitting withdrawals for businesses. Unclear exactly when that was. My guess is 2-3 months before Bitstamp severed its relationship with Unicredit Bank.

Intersting.  OKCoin's  international branch is building volume only now (1.8 kBTC/day), but until a couple of days ago was less than 1 kBTC/day.

Huobi's BitVC does not post separate volume, but on some bitcoin media article they claimed that it was already close to 20% of their daily volume.

Are they using those two, or rather BTC-China, LakeBTC, Bitfinex, AnxBTC, ...?

BTC-China increased its volume quite a bit recently.  I haven checked the others.

[roslinpl]

Sell all mining devices, sell all BTC - buy a piece of ground and seed a potato. You say?


Well ... so I understand that by June 2015 you will be able to buy 1 potato for 3 BTC?

Kinda funny.

As for now ... waiting...

[ChartBuddy]

Explanation

[lemonte]

He looks like he has a potato for a head

[KFR]

Don't be ridiculous - potatoes are far better analysts. 

[fonzie]

Bitfinex acting full retard. China drops 5 CNY on low volume and all those guys are sellin all their stuff as fast they can. I guess a lot of traders are still full of panic after that long squeeze that hapened, lol.

Wonder how that guy feels, that opened a 1600BTC short @469$. Extremly risky bet in my opinion.

[adamstgBit]

short are up again today

[dannyspk]

Strange. Market activity usually calms down in China by this time.. but there's decent buying pressure right now in China. What's happening?

[JerryCurlzzz]

Strange. Market activity usually calms down in China by this time.. but there's decent buying pressure right now in China. What's happening?

I wouldn't say much is going on. This is all very low volume, and Huobi actually looks to be forming a rounded top. If we don't see any panic buying very soon, I think we will pull back.

[dannyspk]

Strange. Market activity usually calms down in China by this time.. but there's decent buying pressure right now in China. What's happening?

I wouldn't say much is going on. This is all very low volume, and Huobi actually looks to be forming a rounded top. If we don't see any panic buying very soon, I think we will pull back.

Just the timing is really odd for this kinda volume. Plus 2950 CNY is being tightly held.. Panic buying might start later on. A lot of resistance to break before that happens.

[ChartBuddy]

Explanation

[JorgeStolfi]

Strange. Market activity usually calms down in China by this time.. but there's decent buying pressure right now in China. What's happening?

Sometimes, when the price is changing fast, the Chinese will keep trading straight through the night.

[Zicore47]

Geez have to sleep too... where are we going?

[Richy_T]

Currently on reddit's frontpage





A wizard burning some dirty fiat money?

That's it, boys! We made it to the frontpage of the Internet! We're mainstream now!

Weak sauce.

[aminorex]

Monkey is planning to touch 444 again.

I don't trade BTCUSD lately, personally.  I do buy BTC to spend, and try to save a little sometimes.

I can't really see BTCUSD climbing much, or for long, until COIN is listed.  It would be against the interests of the large accumulators for that to occur.  There is an obvious watershed event planned, and everyone who is well-able to suppress a market has been provided advance notice of that event.  They've been granted open season to make bank large.  What else could possibly occur?

Holders can take comfort in the fact that they have no intention to break the coin.  Quite the opposite.

[Tzupy]

I don't understand why BFX is a bit below Stamp. Since the long squeeze a lot of loaned fiat has reappeared as bids.
On BFX the bid sum / ask sum ratio is about 1200$, while on Stamp only about 300$. I would have expected BFX to be above Stamp somewhat.

[lemonte]

Monkey is planning to touch 444 again.

I don't trade BTCUSD lately, personally.  I do buy BTC to spend, and try to save a little sometimes.

I can't really see BTCUSD climbing much, or for long, until COIN is listed.  It would be against the interests of the large accumulators for that to occur.  There is an obvious watershed event planned, and everyone who is well-able to suppress a market has been provided advance notice of that event.  They've been granted open season to make bank large.  What else could possibly occur?

Holders can take comfort in the fact that they have no intention to break the coin.  Quite the opposite.

Cheers! Out of interest, does monkey support your COIN theory as well? I'd be really happy if this happened. I'm not calling out for a bubble, just an easier nights sleep. At the moment I feel like it's January again, I think it's because I am actively mining again.

My 40TH/s mine only cost me £4000 and I worry endlessly about it, can't imagine how some of the larger mining operations cope.

[anujjain]

Geez have to sleep too... where are we going?

Don't think where the market going, just go sleep tight.
Because we don't know, when you wake where we are.