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

[DeadCoin]

Anyway, clearly the adoption is slowing down or the new comers think Bitcoin is overvalued

Demand for use as currency in payments (a) seems to be much smaller than demand for hoarding (b) and speculation (c).  If there was only demand (a), the price would probably be 10$ or less.  The drop in price since the all-time high is mainly due to drop in demands (b) and/or (c).

[Wandererfromthenorth]

New low on Huobi...

[mmitech]

Yesterday we had 247 new members of bitcointalk forum. This is the lowest number since the last bubble started almost a year ago.

and many accounts from that above number are fake, in other words not really new adopters but rather from scammers (because Bitcoin is the heaven of scammers) and for advertisement and to sell later and...

[macsga]

Hmm... I doubt that early adopters are selling at the moment (why would they anyway)? If it was so this chart would definitely be different.
https://blockchain.info/charts/bitcoin-days-destroyed

On the other hand an interesting thing to do is observe the hashrate chart during the time of the last "dump".
https://blockchain.info/charts/hash-rate

Interesting stuff. Maybe a great pool is "helping" to make this happen?

[Wandererfromthenorth]

Getting tired for this dump to happen, just fucking crash already.


My shorts are still there. not closing them (and not rebuying) anytime soon.


Going out, this is boring.

[fonzie]

Yesterday we had 247 new members of bitcointalk forum. This is the lowest number since the last bubble started almost a year ago.

and many accounts from that above number are fake, in other words not really new adopters but rather from scammers (because Bitcoin is the heaven of scammers) and for advertisement and to sell later and...

I´m not a scammer nor do i plan do sell them later, but i still have around 25 other accounts 

[macsga]

Yesterday we had 247 new members of bitcointalk forum. This is the lowest number since the last bubble started almost a year ago.

and many accounts from that above number are fake, in other words not really new adopters but rather from scammers (because Bitcoin is the heaven of scammers) and for advertisement and to sell later and...

I´m not a scammer SPAMMER nor do I PLAN TO sellSPAM WITH them later, JUST IN CASE THEY BAN SOME OF THEM, but i still have around 25 other accounts 

FTFY, makes more sense now 

[marcus_of_augustus]

good morning, so when FIAT money lose its value and the buying power becomes weaker every year,  we usually call that inflation (and we think that solely inflation is the cause),  but when Bitcoin lose its value faster than the Argentinian peso , what do we call that ?

Anyway, clearly the adoption is slowing down or the new comers think Bitcoin is overvalued and this is why there is almost no support for the price, my biggest fear is that only we (bears) early adopters who sold before are providing the existing weak support for the current price with our open orders... which is really scary.



It is the weekend, will we touch 330 this weekend ? I think we will find about that soon... 

http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=0
9 more financial institutions have JPMorgan level pwnage.

The Western banking IT infrastructure is on the verge of complete collapse due to a cold cyber war. The stupid Western governments have harried all it's citizens into succumbing to vulnerable centralised database systems, sometimes under threat of criminal prosecution for not complying.

Now that all the sheeple are in the corral, predictably the wolves have arrived for an easy feast ... and the captors are no protectors.

[XxionxX]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

[jeezy]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

Nope. Shorts getting squeezed.

[DutchTrades]

I still think that this dump will turn out to be one giant shakeout.

[XxionxX]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

Nope. Shorts getting squeezed.

I was wondering about the mid term but yeah, I guess I wasn't paying attention. It's late and I can't sleep 

[Spaceman_Spiff]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

Nope. Shorts getting squeezed.

Doesn't the price go UP during a short squeeze?

[David48l]

One btc buy at 352  .

Waiting for buy at 300$ if arrives

[Wandererfromthenorth]

No short squeezes in sight.

[marcus_of_augustus]

Several financial regulators have warned that a coordinated attack on the banking system could set off another financial crisis.

http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=0

If you have assets in any form in a major US financial institution you probably want to consider leaving only as much in there as you can afford to lose ... this puppy is long overdue to go down.

... and it was always going to come down to a competition in systemic robustness. The bitcoin network is a creature of the jungle, the big fat, soft targets of the US financial system centralised databases were always the weak link in the State's last hurrah of triumphalism.

You didn't think it would go down without a real fight?

[XxionxX]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

Nope. Shorts getting squeezed.

Doesn't the price go UP during a short squeeze?

Well it's moving up right now, not much, but enough to be interesting.

Edit: dead cat bounce?

[marcus_of_augustus]

On Friday, George Jepsen, the Connecticut attorney general, opened an investigation into the breach at JPMorgan, while Benjamin M. Lawsky, New York’s top financial regulator, began calling bank officials to warn them to take the threat more seriously.

“There needs to be far more urgency,” Mr. Lawsky said in an interview.

http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=0

Looks like Lawsky is going to have his hands full with multi-trillion dollar concerns to wrry to much about minnow bitcoin for some time eh?

[solex]

Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...

Is my tinfoil on too tight?  

Nope. Shorts getting squeezed.

Doesn't the price go UP during a short squeeze?

Indeed. Like when Volkswagen had a brief moment in the sun as the world's largest company.
http://www.reuters.com/article/2008/10/28/us-volkswagen-idUSTRE49R3I920081028


reminds me of another chart I've seen somewhere...

[ChartBuddy]

Explanation