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

[podyx]

You guys with your "if the price goes below xyz, then Bitcoin is DEAD" are the real weak hands if you truly believe that.

Well if there is any time that bitcoin would fail, I reckon that time is now

I doubt bitcoin is gonna fail when we're at $5k

[scarsbergholden]

Yes volume is a bit low imho

Hodlers be hodling. We have all seen this before, though. Eventually the dam breaks and we get a high volume selloff. It's a good thing -- it's something we may actually be able to rally from. This never-ending bottom fishing will never allow a base to rally from.

[Stankia]

Barely above 400 on BTC-e. I see 300s in the near future.

[N12]

What would be dead is the inflated expectations of a few overzealous people. That's all.

[Schickeria]

Wow, lowest weekly RSI since 2012.

[adamstgBit]

how high she gonna bounce this time?

[ImI]

[Schickeria]

What would be dead is the inflated expectations of a few overzealous people. That's all.

[ImI]

Barely above 400 on BTC-e. I see 300s in the near future.

a real wizard you are 

[scarsbergholden]

You guys with your "if the price goes below xyz, then Bitcoin is DEAD" are the real weak hands if you truly believe that.

Seriously. I've been a huge bear for months and am loving every minute of this. But I also love bitcoin and know that this sort of thinking is total nonsense.

[Tzupy]

Bulls' last line of defense broken, all hope for a near-term bullish scenario crumbled, it's time to capitulate.

[adamstgBit]

back to 440?

[Erdogan]

what is the reasoning behind all the panic today?  at what prices are you guys scooping up more?   I got some at $450 yesterday, but I will pull my cash out again if we dip much further...

I could take a Bloomberg and say it was Scotland.

[franckuestein]

bitcoin price.

[Torque]

What would be dead is the inflated expectations of a few overzealous people. That's all.

So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in the year 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?

Honestly answer the question.  2014 is nearly over, it's been 10 months.

[Scottsdale]

So Question, If I have roughly 2-Million dollars, and decided to trade on Bitstamp for example, would I be able to massively effect the market dumping/buying that many BTC?

[keithers]

putting up a pretty solid fight at $420 on stamp...

[scarsbergholden]

back to 440?

Possible, I think we may have a small bounce to retest that resistance before heading back down.

Bulls' last line of defense broken, all hope for a near-term bullish scenario crumbled, it's time to capitulate.

Agree, more or less. This kind of grind down has high volume capitulation written all over it. Nothing is set in stone, obviously, but I've certainly seen this before and felt this sentiment.....

[N12]

What would be dead is the inflated expectations of a few overzealous people. That's all.

So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?

Honestly answer the question.  2014 is nearly over, it's been 10 months.

Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections?

If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.

[NotLambchop]

back to 440?

If we all just pool our fiat together and make one great big buy, we could do it!!!  Come on everyone, AT EXACTLY 1:30 Eastern Standard Time, everyone BUY!

Ready?

Here we go!