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

[SFHere]

Honestly this looks a lot like april-may all over again... Expecting some serious sideways for the next couple of months.

[Dotto]

Apple will announce a mobile payments solution tomorrow.

I heard that... it will be like having a credit card in the phone. Not a big deal. Can't be used to pay people-to-people.

Can someone post a link about the apple issue?

[Dragonkiller]

ok, this starts to look like some insider dumping going on.

etf not approved? btc to 100?

asks on stamp looking scary.

Apple will announce a mobile payments solution tomorrow.

and apple coin > bitcoin?

dont think so.

No, and there isn't going to be an Apple coin. NFC payments are not the issue and that's never been what bitcoin has been about. That's not the real competition; you can have NFC payment with bitcoin and it is still more efficient than credit cards because of the lower transaction fee.

But they have the potential to dramatically reduce online credit card fraud when combined with Touch ID and potentially the iWatch, and that is partly what bitcoin is about.

On a positive note, Google, eBay/Paypal etc might finally be forced to integrate bitcoin to compete with Apple.

[ImI]

Honestly this looks a lot like april-may all over again... Expecting some serious sideways for the next couple of months.

Honestly i dont expect any sideways anymore. Its more like going to 300$ or 650$ imo.

[tarmi]

ok, this starts to look like some insider dumping going on.

etf not approved? btc to 100?

asks on stamp looking scary.

Apple will announce a mobile payments solution tomorrow.

and apple coin > bitcoin?

dont think so.

 That's not the real competition;

exactly.

this has nothing to do with apple payments. as far as I am concerned some investors are cashing out.

[hd060053]

wtf this orderbook on bitstamp is not normal.

[Dragonkiller]

ok, this starts to look like some insider dumping going on.

etf not approved? btc to 100?

asks on stamp looking scary.

Apple will announce a mobile payments solution tomorrow.

and apple coin > bitcoin?

dont think so.

 That's not the real competition;

exactly.

this has nothing to do with apple payments. as far as I am concerned some investors are cashing out.

You don't get it.

[dakota neat]

OK guys, i'm logging out for now. When i'm back i want to see a nice decent increase in price, alright? 

[fonzie]

OK guys, i'm logging out for now. When i'm back i want to see a nice decent increase in price, alright? 

[spiderbrain]

wtf this orderbook on bitstamp is not normal.

Yeah, horrible, but the other exchanges are looking OK. There are a lot more orders off the books now than in the olden days, though.

[fonzie]

wtf this orderbook on bitstamp is not normal.

Yeah, horrible, but the other exchanges are looking OK. There are a lot more orders off the books now than in the olden days, though.

Most of the other exchanges allow leveraged orders. Bitfinex (3x) ; OKCOIN (10x)...

[Sandia]

Huobi + Bitfinex both have solid order books, 5k coins to sell it down, only needing 500 to buy it back up. Huobi is bouncing nicely. Bitstamp just looks bearish as hell, so many coins there, not sure why the huge difference in exchanges. $11 difference with Huobi+stamp. Bitfinex is torn between the two, doesn't know which way to go.

Leverage, maybe?

It is easy to place a buy $20-50 below market price, but that does not mean the order won't be cancelled when the buyer realizes he can probably buy $20 cheaper in a week.  Placing an order is not a contract to buy at that price.

When we were at 510, there were 12k coins to 580.  I estimated less than 50% of those were actually executed.  The rest were cancelled.

Bitstamp, IMHO, is more realistic about orders that will actually happen.

As a personal example, I had a low ball order at 480 in case of a long squeeze (when we were at 510).  I cancelled it when I saw the effort and number of dumps that occurred to break 500, knowing we would not see 500 for a long time.  Now, I have a big order at 425 for the same reason as the 480.

I never believe orders books, bid/ask ratios, etc., more than $10 away.  They are a mirage.

Edit: one more example.  Most of the way from 590 to 530, bids outnumbered asks 1.5-1.8:1.  Price continued dropping constantly.

[Tzupy]

I wonder if support at 440$ will hold for now, or the dumpers will cut through it like a hot knife through butter.
My guesstimated bottom for this round of drops is about 360$, but it will take some time to get there.

440$ held back then, but now the asks on Bitstamp are a bit higher than in April, when price dropped to 340$.

[grappa_barricata]

[Sandia]

Honestly this looks a lot like april-may all over again... Expecting some serious sideways for the next couple of months.

Honestly i dont expect any sideways anymore. Its more like going to 300$ or 650$ imo.

340.  If it breaks 340, then there is no bottom.

[N12]

I wonder if support at 440$ will hold for now, or the dumpers will cut through it like a hot knife through butter.
My guesstimated bottom for this round of drops is about 360$, but it will take some time to get there.

440$ held back then, but now the asks on Bitstamp are a bit higher than in April, when price dropped to 340$.

People don't understand the ramifications of this.

[mmitech]

well, it is not looking good, as expected....   

[Sandia]

I wonder if support at 440$ will hold for now, or the dumpers will cut through it like a hot knife through butter.
My guesstimated bottom for this round of drops is about 360$, but it will take some time to get there.

440$ held back then, but now the asks on Bitstamp are a bit higher than in April, when price dropped to 340$.

People don't understand the ramifications of this.

So, 2019 coins to disaster?

[Teppino]

https://blockchain.info/en/charts/bitcoin-days-destroyed?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Bitcoins days destroyed = 0  is that a glitch?

[grappa_barricata]

https://blockchain.info/en/charts/bitcoin-days-destroyed?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Bitcoins days destroyed = 0  is that a glitch?

What's the meaning of this graph, I didn't see it before? Bitcoin days destroyed = 0 ? Can you please give more information about this graph, thanks.

From the description at blockchain.info:

Bitcoin Days Destroyed is a measure of the transaction volume of Bitcoin. If someone has 100 BTC that they received a week ago and they spend it then 700 bitcoin days have been destroyed. If they take those 100BTC and send them to several addresses and then spend them then although the total transaction volume could be arbitrarily large the number of bitcoin days destroyed is still 700

It is a glitch, quite probably. Transactions are flowing as usual.