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

[inca]

Stamp at 467, finex at 469.

Listening to this thread we are mid crash. Except we aren't. Just a few salivating day traders hoping for a drop to buy back.

What you said about big players accumulating off exchange and keeping prices from accelerating higher is interesting aminorex. If they are a non malicious actor then precipitating a crash is not in their interests either as it will drastically reduce the value of existing holdings.

Big players are also not generally interested in seeing the value of their holdings evaporate on the whim of lots of small fish day traders. A forty thousand bid wall flicked in and out existence in the low 4xx's last week suggesting serious buying power despite what TA may say.

[BTCtrader71]

I have consulting relationships with people who have told me that they were doing it.  I consider their statements to be factual because of context.  

I call that BS.
I work in consulting and only a few even know bitcoin.

I don't think aminorex is trying to say or imply anything about the fraction of consultants who know bitcoin.

[phoenix1]

Smart money is dumping btc on exchanges to hold down marks for contract coins.  This much I know for a fact.  I then speculate:  When that dam breaks, there will be a mighty wave.

Thanks for the confirmation. I have long suspected that this is exactly what is going on.

And if they can cause a few panic sells and margin cascades and pick up even cheaper coins, all the better. When they have had their fill or strong enough demand comes from another source they will take it right back up again. The are just playing the long game and taking advantage of the current BTC inflation rate to pick up freshly mined coins at a leisurely pace and favourable price. Smart.

So to those who think BTC is broken if we go below $xxx ... rubbish.

In the meantime the infrastructure is being built to make BTC truly useable and more accessible.
Would not be possible to do this if BTC was already mainstream (well, perhaps possible, but harder and more risky)

This is actually bullish for the long term

I disagree that they would not go so far as to cause a crash. They are playing the long game where the goal is to pick up as many coins as cheaply as they can, prior to running it back up again. They will be the ones catching the falling knife in a crash scenario. It may very well be their endgame.

[N12]

Big players are also not generally interested in seeing the value of their holdings evaporate on the whim of lots of small fish day traders. A forty thousand bid wall flicked in and out existence in the low 4xx's last week suggesting serious buying power despite what TA may say.

I've investigated this claim recently (after reading about it on r/bitcoinmarkets) with people who have complete logs of all past orders set on Bitstamp and no trace of this was found. Where did you see this? My guess is it's a bug with the displaying website like I sometimes had happen to me on bitcoinity or clarkmoody.

[grappa_barricata]

Please remember that there is a black swan incoming. People will attempt to escape fast-inflating monies and capital control. Gold is nowhere to be found. Bitcoin has a chance of getting some of them, if that happen.

[derpinheimer]

Big players are also not generally interested in seeing the value of their holdings evaporate on the whim of lots of small fish day traders. A forty thousand bid wall flicked in and out existence in the low 4xx's last week suggesting serious buying power despite what TA may say.

I've investigated this claim recently (after reading about it on r/bitcoinmarkets) with people who have complete logs of all past orders set on Bitstamp and no trace of this was found. Where did you see this? My guess is it's a bug with the displaying website like I sometimes had happen to me on bitcoinity or clarkmoody.

Yeah, I've never seen this "40k wall" either. Sounds like nonsense.

[ChartBuddy]

Explanation

[inca]

Big players are also not generally interested in seeing the value of their holdings evaporate on the whim of lots of small fish day traders. A forty thousand bid wall flicked in and out existence in the low 4xx's last week suggesting serious buying power despite what TA may say.

I've investigated this claim recently (after reading about it on r/bitcoinmarkets) with people who have complete logs of all past orders set on Bitstamp and no trace of this was found. Where did you see this? My guess is it's a bug with the displaying website like I sometimes had happen to me on bitcoinity or clarkmoody.

Yeah, I've never seen this "40k wall" either. Sounds like nonsense.

Blitz: it was widely discussed on bitcoinmarkets..I can't give you absolute proof (never saw it myself).

Derp: You not seeing it means nothing. Just like your perpetual bearish opinion.

[STT]

I do think its about people moving money, as that need to increases and across borders especially then btc utility rises, in turn so then does value

Stamp at 467, finex at 469.

Listening to this thread we are mid crash. Except we aren't. Just a few salivating day traders hoping for a drop to buy back.

Depends how its measured, a bear market call is issued when a 20% drop from peak is achieved and we had that.  However this is not stock but currency.
Overall we are higher then a year ago and so I still rate that as high, just going sideways would be nice as it can lead to rises later

is it possible for bitcoin to trade well below 300 this year?

Yes, the main thing to look at is how widely used is BTC.   If people starting to use btc increases, there is less currency between those people.  Supply and demand, we can expect higher.  Its hard to judge but more people is an optimistic sign

[adamstgBit]

i should have sold more bitcoins....

[Walsoraj]

i should have sold more bitcoins....

Or converted to XRP: http://www.ripplecharts.com/

[ChancellorOnABrink]

Cmon !

https://i.imgur.com/XstNbOT.gif

[N12]

Big players are also not generally interested in seeing the value of their holdings evaporate on the whim of lots of small fish day traders. A forty thousand bid wall flicked in and out existence in the low 4xx's last week suggesting serious buying power despite what TA may say.

I've investigated this claim recently (after reading about it on r/bitcoinmarkets) with people who have complete logs of all past orders set on Bitstamp and no trace of this was found. Where did you see this? My guess is it's a bug with the displaying website like I sometimes had happen to me on bitcoinity or clarkmoody.

Yeah, I've never seen this "40k wall" either. Sounds like nonsense.

Blitz: it was widely discussed on bitcoinmarkets..I can't give you absolute proof (never saw it myself).

Derp: You not seeing it means nothing. Just like your perpetual bearish opinion.

Don't believe everything some fool writes. I thought you had seen it yourself, that's the only reason I asked. Like I said, I checked on it, and there's no evidence of any abnormally large Bitstamp bid in the past. Go on Freenode and ask debork yourself, he operates a bot that logs all orders and dumps it in an IRC channel in realtime. There's no trace of it @Coinsight or ChartBuddy either, but that alone isn't proof since they only log in intervals.

Think about it, in a thread dedicated to wall watching, do you really think it wouldn't have been noticed on here, of all places?

Whoever spread this tale either got fooled by a bug or wants to fool others. Penny stock tactics.

[podyx]

Cmon !

lol

[adamstgBit]

Cmon !

lol

its not funny

is not bouncing, is dropping.   

[Torque]

It's existing BTC holders getting impatient and divesting into altcoins.  Many of them are the same pnd shit coins that went nowhere a few months back, nothing has changed.  They are going to get burned.

[phoenix1]

https://www.youtube.com/watch?v=5P-xYsr9aOw

Is that Risto?

i lol'ed again

Maybe this will cheer you up again Adam 

[N12]

It's existing BTC holders getting impatient and divesting into altcoins.  Many of them are the same pnd shit coins that went nowhere a few months back, nothing has changed.  They are going to get burned.

True, I've been seeing lots of pumping of a particular altcoin of recent.

[adamstgBit]

https://www.youtube.com/watch?v=5P-xYsr9aOw

Is that Risto?

i lol'ed again

Maybe this will cheer you up again Adam 

hahahahaha
to the moooon!

[ErnieX]

US$395 and lift-off

Still stands. Wow this thread is doing 100 pages per week.