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

[podyx]

Times are changing - Bitcoin trending ahead of iPhone 6 what next.

holy shit, strap in boys!!

this one gonna go hard on the bears though

[JayJuanGee]

Times are changing - Bitcoin trending ahead of iPhone 6 what next.

holy shit, strap in boys!!

this one gonna go hard on the bears though

What's it mean exactly?

Is this any kind of meaningful indicator?

if so, then you would think that an uptick in price would follow

[lyth0s]

snipp

Times are changing - Bitcoin trending ahead of iPhone 6 what next.

Bitcoin search trend essentially unchanged on google for past 90 days.

http://www.google.com/trends/explore#q=%2Fm%2F05p0rrx&date=today%203-m&cmpt=q

[podyx]

[img]https://i.imgur.com/NRj2BvJh.jpg

Times are changing - Bitcoin trending ahead of iPhone 6 what next.

holy shit, strap in boys!!

this one gonna go hard on the bears though

What's it mean exactly?

Is this any kind of meaningful indicator?

if so, then you would think that an uptick in price would follow

Well, I guess it's a search engine right and I think alot of people search for iphone 6 so that would mean alot of people are searching for bitcoin which is gonna fuel our bubble

Maybe, I make a too big deal of it though

[Wary]

New London based exchange = Bitok https://bitok.com/



http://cointelegraph.com/news/112481/bitok-exchange-launches-in-london

Beware, it's Russian one. 

[itod]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

[ChartBuddy]

Explanation

[Asrael999]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

If Bitfinex equalised their fees so that the cost of borrowing a bitcoin approached the cost of borrowing USD we might see different price action.

[rebuilder]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

If Bitfinex equalised their fees so that the cost of borrowing a bitcoin approached the cost of borrowing USD we might see different price action.

Those fees are set by the lenders, right? Or are you talking about something other than interest?

[JayJuanGee]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

For some time, the current number has been 650k MTGOX coins "lost"... b/c recall that 200k were recovered.

Yes, there remains considerable uncertainty about who holds those coins and when they got possession of them... whether it is the US Govt, or some central bank, or some common hacker thief, or Karpeles and friends, or just some random dude(s)... also, whether they are white hat or black hat and when did they get a hold of those coins.. could have been as early as 2011 when Gox was having some hacker attacks and could have been as late as late 2013 - if you go with Karpeles et. als. apparent and implausible version of events.

[mooncake]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

[itod]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

For exchange owners to publicly reveal the identity of their customers would be a breach of TOS and probably illegal. Who would trust such an exchange? You can assume if somebody is dumping the MtGox "lost" coins he would have bigger worries than being doxed by the exchange.

If you analyse in which way you would dump some of the 850K (-200K) of MtGox coins if they would be yours, one can come to conclusion it would happen exactly as it happening now. Try to keep the price as stable as you can, don't bring it down more than you have to. Disperse over several exchanges. Drop more on the good news. Take your time to analyse the buying patterns on the exchanges and adjust the selling patterns to their customers. Aren't that what we are seeing?

[Brewins]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

The exchange owners are in the perfect position to make such manipulations. They have their own funds, and I think nothing stop them from doing such things.

I would not be surprised if they are behind the recent moves.

[Hunyadi]

Some entity is trying very hard to push the price down with the walls. Can someone answer why? Big players are not ready for a rally yet? There seems to be lots of buying pressure, but it seems bitcoin has to stay cheap 

[mooncake]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

For exchange owners to publicly reveal the identity of their customers would be a breach of TOS and probably illegal. Who would trust such an exchange? You can assume if somebody is dumping the MtGox "lost" coins he would have bigger worries than being doxed by the exchange.

If you analyse in which way you would dump some of the 850K (-200K) of MtGox coins if they would be yours, one can come to conclusion it would happen exactly as it happening now. Try to keep the price as stable as you can, don't bring it down more than you have to. Disperse over several exchanges. Drop more on the good news. Take your time to analyse the buying patterns on the exchanges and adjust the selling patterns to their customers. Aren't that what we are seeing?

Consider the scenario a Coindesk reporter interviews the exchange owner. Instead of providing the identity of the seller, the owner can give a general description of the seller, for example, an individual, a payment processing company, a miner or a hedge fund. Then the community will be able to know what and who in general cause this bearish market.

I agree it is not ethnical to reveal the seller identity but if many reporters bug them, chances are they are likely to drop some hints.

I still do not think the hacker will sell in exchange. No way he will provide his identity.

[mooncake]

Some entity is trying very hard to push the price down with the walls. Can someone answer why? Big players are not ready for a rally yet? There seems to be lots of buying pressure, but it seems bitcoin has to stay cheap 

No one knows why except the exchange owners. Bug the bitcoin news website reporters to bug the exchange owners for answer.

[ChartBuddy]

Explanation

[JayJuanGee]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

For exchange owners to publicly reveal the identity of their customers would be a breach of TOS and probably illegal. Who would trust such an exchange? You can assume if somebody is dumping the MtGox "lost" coins he would have bigger worries than being doxed by the exchange.

If you analyse in which way you would dump some of the 850K (-200K) of MtGox coins if they would be yours, one can come to conclusion it would happen exactly as it happening now. Try to keep the price as stable as you can, don't bring it down more than you have to. Disperse over several exchanges. Drop more on the good news. Take your time to analyse the buying patterns on the exchanges and adjust the selling patterns to their customers. Aren't that what we are seeing?

I agree with you that it would be problematic for exchanges to share information regarding who is buying and/or selling coins.

Regarding current market sales of BTC.  You have described one theory about what is happening.. that large holdings of coins are being dumped in order to be able to best get rid of the coins while preserving the price; however, that explanation is less convincing than the theory that BTC prices are being manipulated downward on purpose to keep the price down.  In this regard, generally they do NOT sell into large bid walls and there are big dumps as the price is moving down that take place strategically and seemingly on purpose in order to attempt to push the price further down as much as possible at various opportunistic times... .

[JayJuanGee]

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

The exchange owners are in the perfect position to make such manipulations. They have their own funds, and I think nothing stop them from doing such things.

I would not be surprised if they are behind the recent moves.

It is possible that they jump on board from time to time; however, I doubt that it is really the exchanges that are pushing for lower prices... there are other entities, such as banks and financial institutions and even big BTC accumulators, that have greater means and greater incentives to engage in such downward manipulations.

Exchange owners would NOT want to get caught engaged in such behavior, if they were, b/c getting caught would be bad for their business and their credibility to act as conduits rather than instruments of change.

[fonzie]

http://www.coindesk.com/coinbase-launches-bitcoin-buying-selling-13-european-countries/


With the beta launch, Coinbase will now allow consumers in Austria, Belgium, Cyprus, Finland, France, Greece, Italy, Latvia, Malta, the Netherlands, Portugal, Slovakia and Spain to buy and sell up to €500 in bitcoin per day.

“We looked at what markets to move into next, and Europe seemed like the next biggest economy. It’s developed, there are people there who want to get bitcoin, there’s a lot of demand for it, but they really don’t have an easy way to do it.”