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

[NotLambchop]

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Cheers. I'm hoping to reach 200 by christmas. If we do dip down anywhere near a 2xx handle then i should achieve it easily...

...easier still if BTC hits $1.

[NotLambchop]

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i wouldn't call this crash and burn.  super boring, minor jitter.

Twelve more jitters like this one to bring us down to zero

[inca]

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i wouldn't call this crash and burn.  super boring, minor jitter.

Twelve more jitters like this one to bring us down to zero

Well the great thing about a manipulated market like bitcoin is that after suppression we get to look forward to a pump.

[tarmi]

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i wouldn't call this crash and burn.  super boring, minor jitter.

Twelve more jitters like this one to bring us down to zero

Well the great thing about a manipulated market like bitcoin is that after suppression we get to look forward to a pump.

selling to shroomskit for a 50 $ profit is a good business.

[inca]

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i wouldn't call this crash and burn.  super boring, minor jitter.

Twelve more jitters like this one to bring us down to zero

Well the great thing about a manipulated market like bitcoin is that after suppression we get to look forward to a pump.

selling to shroomskit for a 50 $ profit is a good business.

I can't decide to sell to inca or to ShroomsKit 

I'll happily take your coins dumper - at the market price of course.

[NotLambchop]

...we get to look forward to a pump.

That's the beauty of hope--it's always the last thing to die

[inca]

...
i wouldn't call this crash and burn.  super boring, minor jitter.

Twelve more jitters like this one to bring us down to zero

Well the great thing about a manipulated market like bitcoin is that after suppression we get to look forward to a pump.

selling to shroomskit for a 50 $ profit is a good business.

I can't decide to sell to inca or to ShroomsKit 

I'll happily take your coins dumper - at the market price of course.

Yes of course at the market price. But not at the current market price 

We'll see. 30 minutes of buying like last week, followed by another day of rising gains and I am pretty certain you would get FOMO and buy well above the current market price.

[BitAddict]

The paypal situation is going to lead to a spectacular rally once some of the big merchants start accepting it... which they have already said that they will! Don't listen to the naysayers claims that they sell instantly and bring the price down. Remember people need to buy the coins in order to spend them... and the legitimacy that is brought will have profound network affects.

I mainly agree with your post, however this line doesn't reflect the reality.

People don't buy bitcoin to spend then, they buy to invest and make profit. Maybe they will spend once or twice to try how it works, but it is not worth it, because you end up paying a lot of fees. Only in minor situations it is worth it (discounts, blocked countries, travelling).

I would say more than 90% of the people spending bitcoin are early adopters or people who already made a lot of money with it.

This will lead to more selling pressure in the short term, but anyway it is a good long investment for bitcoin, because it brings more utility and awareness.

[Hiro_Y3k]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

[NotLambchop]

If you think you had a bad day...
...my "8888" post is on page 8887 now

[omgbossis21]

Really glad I didn't opt to buy the s3 miner now.  I haven't even been mining much except my 2 u2+ usb miners always going.  Shut down the gpus and sold one off a few weeks back, only mining burst b/c it uses the hard drive which doesn't run my power bill up.  Seems we should see those less efficient miners going offline soon and things will even back out as usual though.

[inca]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.

Edit: though I wish they would hurry up about it..

[Davyd05]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.

Edit: though I wish they would hurry up about it..

TL:DR Have some coins on hand if you can, if you day trade enjoy the volatility but make sure you have plans for the reversal. If your long term bearish we don't believe in you, like you don't believe in the protocol

[hmmmstrange]

Now that we are well below the 600 day moving average, time to look at the 700 day MA @ $325.

[njcarlos]

Someone is working overtime to hold $375. Hope they have a few million on hand.

[coins101]

why is BTC-e always $5-$15 below the other exchanges?

[Torque]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.

Edit: though I wish they would hurry up about it..

You mean like all the amazing panic buying that happened this year with the announcements of Overstock, NewEgg, Dell, Expedia, Square, Wikipedia, United Way, and now PayPal???  

It's getting pretty obvious that good news is not creating a panic buying stampede.  In fact, I FEAR one more big good news announcement this year and PRAY that it never happens.

[ChartBuddy]

Explanation

[lyth0s]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.

Edit: though I wish they would hurry up about it..

I honestly don't think more adoption (IE ebay integrating bitcoin) will really help increase bitcoin prices really. I mean without a discount or easy of use or some other benefit there is no reason for people to convert their fiat into bitcoins and then make the purchase in bitcoins. The more merchant adoption will help people spend their coins easier and thus creating a selling pressure due to increased supply on the exchanges.

In order for price to go up we need something different, we need more demand. Demand will only go up if there is some clear benefit to first converting fiat to bitcoin then using bitcoin in transactions, rather than directly using fiat currency.

We need:
1) More quantitative easing
2) Decreased world reserve of USD
3) Increased fiat taxes
4) Need for increased privacy
5) Massive Economic Downturn
6) Country or very large scale adoption (merchants AND consumers)
7) More bankruptcies
8) Failure of banks
9) Speculation -- The least likely to create long lasting results.

[TeeBone]

As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.

Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.

Edit: though I wish they would hurry up about it..

Got any more stories, Bulltroll ?

That's been the M.O. all year - buy buy buy, train is leaving, ATH around the corner, endless bla bla bla. Then, when it doesnt pan out..... wip out conspiracy theories of bankster/bilderberg suppression. Classic slimy sales tactic, win both ways.

Hey, i got a theory also.....Nobody gives a flying whales penis about bitcoin !