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

[podyx]

I think the fear has reached an extreme far higher than anything in 2014 yet. People (including me) are talking about getting back to work, putting castles for sale, and the price reaching $100-$200 in a matter of weeks.

Typically, extreme fear is associated with prices that in nearly all timeframes provide far above-average returns. Unlike most extreme fear situations, the one in Bitcoin now is very easy to capitalize on, because bitcoins can easily be bought 24/7.

Even if buying more is not a realistic option due to the portfolio already being heavy in BTC, selling is generally not warranted unless you want to be one of those taken advantage of.

Risto I'm curious, I assume your opinion is that this is just temporary noise but if bitcoin were to EVER die out, how would you expect it to unfold and at what time?

WAYYYY too much new adoption, and, importantly, WAYYY too much new infrastructure and VC participation for this to be any kind of swan song.  We're still REALLY early in this story, not really late.

Right but how can you be so sure??
I mean, even though with all these good news and hype, there just seems to be no buying pressure and we barely had any bulltrap at all.

It doesn't make sense to me
Also the fact that everybody seems to be so sure that it's not dying out any time soon worries me

[TsuyokuNaritai]

Bitfinix touching 300 again. okcoin & lakebtc already back over 300.

[noobtrader]

http://www.bloomberg.com/news/2014-08-15/spiderwoman-brings-hope-to-winklevoss-twins-bitcoin-etf.html

i see spiderman... hmmm....

http://instagram.com/p/tx2naJpOty/

[noobtrader]

Bitfinix touching 300 again. okcoin & lakebtc already back over 300.

beartrapped... i hope only few bear was trapped

[N12]

Thanks for the cheap coins, bearwhale manipulator. Thanks for the sentiment low. Thanks for the likelihood of reversal taking place.

Best day in a long time.

[Mervyn_Pumpkinhead]

Thanks for the cheap coins, bearwhale manipulator. Thanks for the sentiment low. Thanks for the likelihood of reversal taking place.

Best day in a long time.

[Richy_T]

so does anybody know what may be causing this price decline?

The price decline.

[fonzie]

That shit is going to bounce so hard.

[mmitech]

I think the fear has reached an extreme far higher than anything in 2014 yet. People (including me) are talking about getting back to work, putting castles for sale, and the price reaching $100-$200 in a matter of weeks.

Typically, extreme fear is associated with prices that in nearly all timeframes provide far above-average returns. Unlike most extreme fear situations, the one in Bitcoin now is very easy to capitalize on, because bitcoins can easily be bought 24/7.

Even if buying more is not a realistic option due to the portfolio already being heavy in BTC, selling is generally not warranted unless you want to be one of those taken advantage of.

When you think about it, Bitcoin is a real threat to economy in a given society, when the value goes up that fast ( as you claim it will) many people will be leaving their daily productive jobs.... and when thinking about mass adoption I start thinking about a bunch of greedy lazy bastards.... this surely will result to the collapse of that society.


Thankfully, after being home for 7 months now, I started looking for a job.

[noobtrader]

so does anybody know what may be causing this price decline?

The price decline.

sell wall panic because of beartrap set by bearwhale

[N12]

You guys don't know when to spot a capitulation, do you?

[Omikifuse]

so does anybody know what may be causing this price decline?

The price decline.

yes.


People are not buying because they fear the price will fall even more, and cause of this prices keep falling or don't rise. It is a vicious circle hard to break

[TsuyokuNaritai]

Bitfinix touching 300 again. okcoin & lakebtc already back over 300.

beartrapped... i hope only few bear was trapped

bitfinix now 305. They got tired of waiting for bitstamp.

[MinermanNC]

Take a deep breath its coming back. Bottom reached. lol

[vuduchyld]

I think the fear has reached an extreme far higher than anything in 2014 yet. People (including me) are talking about getting back to work, putting castles for sale, and the price reaching $100-$200 in a matter of weeks.

Typically, extreme fear is associated with prices that in nearly all timeframes provide far above-average returns. Unlike most extreme fear situations, the one in Bitcoin now is very easy to capitalize on, because bitcoins can easily be bought 24/7.

Even if buying more is not a realistic option due to the portfolio already being heavy in BTC, selling is generally not warranted unless you want to be one of those taken advantage of.

Risto I'm curious, I assume your opinion is that this is just temporary noise but if bitcoin were to EVER die out, how would you expect it to unfold and at what time?

WAYYYY too much new adoption, and, importantly, WAYYY too much new infrastructure and VC participation for this to be any kind of swan song.  We're still REALLY early in this story, not really late.

Right but how can you be so sure??
I mean, even though with all these good news and hype, there just seems to be no buying pressure and we barely had any bulltrap at all.

It doesn't make sense to me
Also the fact that everybody seems to be so sure that it's not dying out any time soon worries me

Well, I will tell you that in my opinion, there is no way to know if we're near the bottom.  We may well not be.  But as for the death of BTC, I think it was Mark Twain who said, "The rumors of my death have been greatly exaggerated."  The protocol ain't dying and there are lots of people who seem committed enough to it that I feel great about my buys.  Of course, I'm not investing what I can't afford to lose and I'm not counting on a quick return.  Just a long-term outcome that is basically anything-but-death.

[aclass]

As we all should. Leave stamp where it is an let the whale play his game there.

Bitfinix touching 300 again. okcoin & lakebtc already back over 300.

beartrapped... i hope only few bear was trapped

bitfinix now 305. They got tired of waiting for bitstamp.

[samsonn25]

so does anybody know what may be causing this price decline?

The price decline.

yes.


People are not buying because they fear the price will fall even more, and cause of this prices keep falling or don't rise. It is a vicious circle hard to break

Is the purpose of bitcoin to buy and hope price goes up to make profit or as the founder envisioned it as a new currency and value medium to be able to exchange products and services.

[Omikifuse]

Bitfinix touching 300 again. okcoin & lakebtc already back over 300.

beartrapped... i hope only few bear was trapped

bitfinix now 305. They got tired of waiting for bitstamp.

Chinese are sleeping atm.

Wait until they wake up and panic sell everything

[vuduchyld]

You guys don't know when to spot a capitulation, do you?

I hope this is it, but I'm not putting my life savings on the line for it or anything.  Almost seems like this was too short for a real capitulation.  Still too many confident people (like me!)

[Erdogan]

The mind of an average bitcoiner is intriguing.
If someone buys a lot, then that someone is obviously bullish to acquire those coins.
If someone sells a lot, then that someone is also obviously bullish, trying to manipulate others to sell, so he could buy more.
There isn't a possibility in the universe that someone just doesn't believe in the long-term success of bitcoin. It can't be so! It can't!

So much similarities with religious folks.
Anyway, this drop is far from over. So, enjoy and remember that it's only money.

The majority does not believe. That is the point. The minority knows that bitcoin have the properties to advance organically, and since there is no stopper, moon is where we go.

Edit: The minority have for a hundred years argued for sound money. The majority do not want to keep their freedom, because of credit card points! Ref http://www.forbes.com/sites/learnvest/2013/07/01/i-fund-everything-in-my-life-with-credit-card-points/

So someone invented a better form of sound money, that people actually want to use, proof: the usage growth. There is no religion here.