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

[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 !

[Torque]

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

... or it could be 10 thousand someone's who've decided it is a good entry point, betting against the crowd (sentiment reversal) is the biggest risk at these levels

Think about how stupid this is though.  You don't just need buyers at 375, you need them at 400 and above as well.  You'll also need them at 500, 600, 700, and so on.

[spooderman]

I'm more than ready to say "Oh well, bitcoin didn't work out, that's a shame." But I just doubt that I'm ever gonna need to.

[Torque]

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

... or it could be 10 thousand someone's who've decided it is a good entry point, betting against the crowd (sentiment reversal) is the biggest risk at these levels

Think about how stupid this is though.  You don't just need buyers at 375, you need them at 400 and above as well.  You'll also need them at 500, 600, 700, and so on.

... and on and on and on, you'll also need sellers at those levels? think about how stupid that is? you just described sentiment and tried to refute it in the same sentence

Dude just no.  There's nearly a whole 10 months of future sellers now.  These are the people feeling that they made a mistake, not buying any more, and are just waiting for bitcoin to hit their price point again so they can get the fk out.

[ShroomsKit]

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..

Nobody is accumulating.

[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..

Nobody is accumulating.

I'm pretty sure a lot of people are accumulating. Myself included...

[ShroomsKit]

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.

Yup. But he prefers to ignore those small details.
The price will explode any minute now guys.

[Tzupy]

Oh Adam, you disappoint me... I named you a honorary bear, and you say:
"mass waves of panic sell-offs occurred" and "much panic, the speculation sub-forum was buzzing with talk of doom and gloom"
That was nothing compared with what's coming during the next weeks.

[prophetx]

the theme song for this week

How Low

https://www.youtube.com/watch?v=ox-lfowevqA

[derpinheimer]

Interpretation?

Price is going down, both longs and shorts are going up a little bit (but not too much).
The majority of the coins dumped are real BTCs and not just shorts.

Shorts went up for +1k today. At the same time longs are growing, which means that traders consider this price as a good long position  

Shorts are not particularly high compared to longs so a short squeeze is not that probable now.

?
Shorts are near ATH...

$20m in longs, $4m in shorts....

[adamstgBit]

Interpretation?

Price is going down, both longs and shorts are going up a little bit (but not too much).
The majority of the coins dumped are real BTCs and not just shorts.

Shorts went up for +1k today. At the same time longs are growing, which means that traders consider this price as a good long position  

Shorts are not particularly high compared to longs so a short squeeze is not that probable now.

?
Shorts are near ATH...

$20m in longs, $4m in shorts....

[/quote][/quote]

just look back at all the data you see shorts have never been higher than 12K BTC

[JayJuanGee]

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

I said to myself:  "Self, Oh SHIT, your 8,888 page post is on page 8,889"; however, NOW, my 8,888 page post is on page 8,888 - however, I expect that ONLY to be a temporary state of good fortune.   

[BitChick]

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

I said to myself:  "Self, Oh SHIT, your 8,888 page post is on page 8,889"; however, NOW, my 8,888 page post is on page 8,888 - however, I expect that ONLY to be a temporary state of good fortune.   

You should hodl your posts!!!  I waited until page 8893 to post my page 8888 post.     See how that works!?   

[Moria843]

All major merchants who receive BTC immediately sell.
As a miner, I need to sell just to squeak buy; other miners probably doing the same; soon it will not be profitable to mine and many will stop.
Sold half my stash recently; may simply wait to buy back cheap as everyone panics; cheaper than mining.
Everyone selling, doesn't look good.

[adamstgBit]

All major merchants who receive BTC immediately sell.
As a miner, I need to sell just to squeak buy; other miners probably doing the same; soon it will not be profitable to mine and many will stop.
Sold half my stash recently; may simply wait to buy back cheap as everyone panics; cheaper than mining.
Everyone selling, doesn't look good.

you're STILL profitable???

god damn we need to go lower!

[JayJuanGee]

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

I said to myself:  "Self, Oh SHIT, your 8,888 page post is on page 8,889"; however, NOW, my 8,888 page post is on page 8,888 - however, I expect that ONLY to be a temporary state of good fortune.  

You should hodl your posts!!!  I waited until page 8893 to post my page 8888 post.    See how that works!?  

And, probably someday, in the very near future, you are going to be correct.

For anyone who believes this topic is NOT relevant to this thread...... Cut YOUR Goose, Loose  - MF  !!!!!!!!    

[Moria843]

All major merchants who receive BTC immediately sell.
As a miner, I need to sell just to squeak buy; other miners probably doing the same; soon it will not be profitable to mine and many will stop.
Sold half my stash recently; may simply wait to buy back cheap as everyone panics; cheaper than mining.
Everyone selling, doesn't look good.

you're STILL profitable???

god damn we need to go lower!

So what happens when everyone stops mining