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

[inca]

Me thinks it would be very difficult to challenge 360 let alone 340 - but crazy shit happens since short/long positions entered the market.

Probably we have hit the bottom though, first good sign would be a higher low (and preferably not under 395).

I bought some at 400$, will buy again if we test 430 and bounce back...

I have lived the last 2 crashes too (30$ and 266$) but this one was scary in a lot different way, the circumstances are much different now, BTC must NOT go below 330...

Are you quoting yourself?

I think that bitcoin is on the verge of going mainstream as both an investment asset and a usable internet digital currency. If the price crumbles below $300 we may be waiting until the next halving for a decent bull run.

Mark Karpeles has a lot to answer for.

[adamstgBit]

bids are pilling.

[klee]

Me thinks it would be very difficult to challenge 360 let alone 340 - but crazy shit happens since short/long positions entered the market.

Probably we have hit the bottom though, first good sign would be a higher low (and preferably not under 395).

I bought some at 400$, will buy again if we test 430 and bounce back...

I have lived the last 2 crashes too (30$ and 266$) but this one was scary in a lot different way, the circumstances are much different now, BTC must NOT go below 330...

What is your opinion that 685 was the bubble, but was aborted early?  Walls, big dumps, etc.
Serious question.

Not sure if I understand correctly - if you asked why we failed at 683$ I suppose it was the psychological barrier of 500eu and that after that Bitcoin HAD to break the old ATH again.

Which in turn means we HAD to go at least 3000$ and we were not ready for that.

Don't know when and if ever we will be, but if this was the bottom there are good chances we can do this again!

PS: When you HAVE to do something there is performance anxiety, our BTC needed a boost like Viagra (willibot) lol

[ShroomsKit]

I'm sitting on coinbase right now...I missed the dip this morning, but I am ready to buy a few more BTC if I can get it under $400.   That really feels like a steal...

And in a few days it will feel expensive and you can't wait to buy those $320 coins. A real steal!

[inca]

Quick poll: should i use my remaining fiat to buy in now?

[adamstgBit]

longs covered, ( most likely at a loss, possibly some forced liquidation )

[fonsie]

I'm sitting on coinbase right now...I missed the dip this morning, but I am ready to buy a few more BTC if I can get it under $400.   That really feels like a steal...

And in a few days it will feel expensive and you can't wait to buy those $320 coins. A real steal!

Please shut the fuck up, little cry baby. Man Up.

[N12]

I'm sitting on coinbase right now...I missed the dip this morning, but I am ready to buy a few more BTC if I can get it under $400.   That really feels like a steal...

And in a few days it will feel expensive and you can't wait to buy those $320 coins. A real steal!

Please shut the fuck up, little cry baby. Man Up.

I don't understand why he doesn't take some of his shrooms if the pain is so bad.

[ShroomsKit]

Quick poll: should i use my remaining fiat to buy in now?

We've been going down for 9 months. Why would it stop here? Do you see anybody dying to get back in? I certainly don't.
But whatever you do don't follow my investment advise because in the end i know nothing more than anybody else here.

[fonsie]

But whatever you do don't follow my investment advise because in the end i know nothing more than anybody else here.

Now we are going somewhere.

[freedomno1]

Now I have a real question in your opinion should I calculate lower or keep the same price target

its up to you
you have all the info, you make up your own mind.
I think it should go up, but i know that just because something should be doesn't mean it will be.
good luck.

Fair enough thanks Adam and it is an annoying puzzle.

I know that the price is dropping but don't know how strong the damn price elasticity is and whether structural pressures are greater right now than demand lot of sellers because of all the VC's saturating the demand for Bitcoins for now.

From a perspective that people are always converting that part is a no brainer, but how long will it take till Bitcoin demand itself increases.
(In other words in my head the fall from 600 to 300 will rebound in turn and with gains later)
Time duration for me is 1-3 months in a normal asset in Bitcoin its accelerated so it stands to reason it could be 3 to 8 weeks lol. (Then again humans tend to be slow in aggregate so maybe it would follow a normal usage and adoption curve)

Some of the great unknown factors for me are the impact Apple Pay will have in the market and how much demand may move sideways into bitcoin or move away from it until more established players are in the game, sure theres Braintree but it does make me curious how that will impact market dynamics didn't get the Alibaba info yet or read much into it but will need to look at this later.

[AirFlame]

Ok now it can go only up or down no other way hahahaha I think it will go up. In 1-10 days we will see $500

[ShroomsKit]

At least the bid side at Stamp looks healthier again. That's a good sign. Maybe, just maybe the sellers are finally satisfied. Just too bad they scared tons of potential buyers away.

[Kupsi]

 

(From this reddit thread: http://www.reddit.com/r/Bitcoin/comments/2gup56/sale_now_on/ )

[Torque]

Me thinks it would be very difficult to challenge 360 let alone 340 - but crazy shit happens since short/long positions entered the market.

Probably we have hit the bottom though, first good sign would be a higher low (and preferably not under 395).

I bought some at 400$, will buy again if we test 430 and bounce back...

I have lived the last 2 crashes too (30$ and 266$) but this one was scary in a lot different way, the circumstances are much different now, BTC must NOT go below 330...

What is your opinion that 685 was the bubble, but was aborted early?  Walls, big dumps, etc.
Serious question.

Not sure if I understand correctly - if you asked why we failed at 683$ I suppose it was the psychological barrier of 500eu and that after that Bitcoin HAD to break the old ATH again.

Which in turn means we HAD to go at least 3000$ and we were not ready for that.

Don't know when and if ever we will be, but if this was the bottom there are good chances we can do this again!

PS: When you HAVE to do something there is performance anxiety, our BTC needed a boost like Viagra (willibot) lol

I know EXACTLY what happened.
  
Big speculatively money rushed back into the market in May, only due to expectations that the only bottom ever to occur this year was IN (i.e., it can't get any worse than the Mt. Gox implosion, right?), and expectations of the start of a new rally by July.  When it was clear that by August a new rally wasn't going to happen, they did a 180 and bailed.

Just one look at the charts since April/May tells that whole story.

[BitChick]

Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today.  Many people may have sold coins and are holding it in Fiat.  If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can.  It will in essence cause a run up very quickly in Bitcoin as well.  

We will see of course. . .

[AirFlame]

Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today.  Many people may have sold coins and are holding it in Fiat.  If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can.  It will in essence cause a run up very quickly in Bitcoin as well.  

We will see of course. . .

Hmm... interesting what time IPO opens ? Lets hope You are right.

[BitChick]

Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today.  Many people may have sold coins and are holding it in Fiat.  If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can.  It will in essence cause a run up very quickly in Bitcoin as well.  

We will see of course. . .

Hmm... interesting what time IPO opens ? Lets hope You are right.

Supposed to open at any moment.

It is on LIVE at https://www.nyse.com/bell

I am trying to buy a little but I did not sell any BTC to do so.  Just moving some funds from a Roth IRA over to it.  

Should be interesting today . . .

[dwdoc]

Quick poll: should i use my remaining fiat to buy in now?

We've been going down for 9 months. Why would it stop here? Do you see anybody dying to get back in? I certainly don't.
But whatever you do don't follow my investment advise because in the end i know nothing more than anybody else here.

Apparently Bit Coin Investment Trust wants back in.

https://bitcointalk.org/index.php?topic=178336.msg8889232#msg8889232

[QuestionAuthority]

Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today.  Many people may have sold coins and are holding it in Fiat.  If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can.  It will in essence cause a run up very quickly in Bitcoin as well.  

We will see of course. . .

Hmm... interesting what time IPO opens ? Lets hope You are right.

Supposed to open at any moment.

It is on LIVE at https://www.nyse.com/bell

I am trying to buy a little but I did not sell any BTC to do so.  Just moving some funds from a Roth IRA over to it.  

Should be interesting today . . .

Now why would that cause the price to rise? Sorry I'm not getting it.