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

[TsuyokuNaritai]

13,200.49 BTC shorts   

Cut the loose before its too late, this is last chance to sell above 250$

Nice try. That's 5 million dollars worth of bears now *committed* to buying bitcoin.

[adamstgBit]

more shorts on finex pilling in?

[Luzio]

Shorts are high, but I am sure most of them are sitting on massive gains from the overall downtrend, so they can take a beating. Also longs measured in bitcoins have increased the last few days even more than shorts. I took my 25% profit already, so I don't really care at the moment where it goes.

[thezerg]

You may laugh but with the CFTC hearing, the next 24 hours are actually critical.
http://www.cftc.gov/PressRoom/PressReleases/pr7010-14

Can someone summarize what the hearing is about in BTC terms for me? And how it will affect us and the price?

ditto that!  Can someone translate this finance speak into english?

The meeting will focus on issues related to clearing Non-Deliverable Forwards (NDFs) and the digital currency bitcoin. The meeting will consist of two panels. The first panel will discuss whether a clearing mandate   is appropriate for NDFs, with a particular focus on how such a mandate would impact foreign exchange contracts  . The second panel will discuss CFTC’s jurisdiction with respect to derivatives contracts that reference the digital currency bitcoin.

[fonzie]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to even15-20k,. after that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

[derpinheimer]

13,200.49 BTC shorts   

Cut the loose before its too late, this is last chance to sell above 250$

Nice try. That's 5 million dollars worth of bears now *committed* to buying bitcoin.

Im not really good with understanding shorts and longs, but my thought is:

Short: Someone offers you to sell their coins, with daily interest (or other agreed rate), which you then can buy back at a price of your own choosing? How does the leverage work?
Long: Someone offers you to sell their USD, with daily interest, which you can then... same question - how does the leverage work? And must a long also buy back USD?

They both show on the orderbooks as any other order, with the condition they must be bought traded back at some other time?

So 13k btc of shorts mean 13k btc must be bought, at some time.. but 20m longs means.. $20m usd must be bought as well???

[BitChick]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to around 15-20k. After that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

My guess (with nothing to back it up of course)  is that we hit $400 in the next day or so, climb to $600 in the next two weeks with one more week in the $600-$700 range and then it is "bubble time" after we break $700 with three weeks of crazy increases up to $5000 to $6000.  

[BBmmBB]

more shorts on finex pilling in?

man is there a rally occurring?    ///^gogogog

[fonzie]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to around 15-20k. After that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

My guess (with nothing to back it up of course)  is that we hit $400 in the next day or so, climb to $600 in the next two weeks with one more week in the $600-$700 range and then it is "bubble time" after we break $700 with three weeks of crazy increases up to $5000 to $6000.  

eeehhhm no, probably not  
I wouldn´t have a problem if it would develop like this, but the chances are pretty low that it goes this fast, almost 0. Only if we hear by monday that the ETF got approved.

[adamstgBit]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to around 15-20k. After that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

My guess (with nothing to back it up of course)  is that we hit $400 in the next day or so, climb to $600 in the next two weeks with one more week in the $600-$700 range and then it is "bubble time" after we break $700 with three weeks of crazy increases up to $5000 to $6000.  

[Thomas-s]

CFTC hearing starts in 2 hours.
http://www.onlinevideoservice.com/clients/cftc/video.htm?eventid=cftclive

[adamstgBit]

there we go virtex has caught up

i am so fucked.

[mah87]

there we go virtex has caught up

i am so fucked.

Hey adam what do you think abotu cryptsy integrating the ripple network ?

[Silent Sam]

I would sell 2 days ago at $330 when it's now $380.
fuck my life

[adamstgBit]

there we go virtex has caught up

i am so fucked.

Hey adam what do you think abotu cryptsy integrating the ripple network ?

i think it means more bitcoins will be chasing XRP, good for bitcoin good for ripple. but ripple will be a failure in the end, some banks like it because ripple is closed source and prints coins out of thin air and banks feel comfortable with that.

[derpinheimer]

I would sell 2 days ago at $330 when it's now $380.
fuck my life

If you're worried, thats only a 10% loss or so. Why not buy half back at a loss and otherwise leave the rest in case it drops?

[mmitech]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to around 15-20k. After that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

My guess (with nothing to back it up of course)  is that we hit $400 in the next day or so, climb to $600 in the next two weeks with one more week in the $600-$700 range and then it is "bubble time" after we break $700 with three weeks of crazy increases up to $5000 to $6000.  

Let me summarize this post: price will go to $400 then $500 because 500 is after $400 then it goes to $600 because 600 is after 500 then $5000 or $6000...I had to say it like this for people who didn't go to school... oh and I cant back this up with logic but if this will anyhow help bringing any legitimacy to this post: our lord and savor Jesus visited me in my sleep (or prayer) and told me that.

[adamstgBit]

more shorts on finex pilling in?

If we go sideways (340-370$ range) for the next 1-2 weeks they will probably increase to around 15-20k. After that we would see a real massacre.
On the other hand, a bull whale might try to use the current momentum to squeeze em and shoot us up to 450-480$ by tomorrow.
The future looks bright!

My guess (with nothing to back it up of course)  is that we hit $400 in the next day or so, climb to $600 in the next two weeks with one more week in the $600-$700 range and then it is "bubble time" after we break $700 with three weeks of crazy increases up to $5000 to $6000.  

Let me summarize this post: price will go to $400 then $500 because 500 is after $400 then it goes to $600 because 600 is after 500 then $5000 or $6000...I had to say it like this for people who didn't go to school... oh and I cant back this up with logic but if this will anyhow help bringing any legitimacy to this post: our lord and savor Jesus visited me in my sleep (or prayer) and told me that.

sure but, if everyone thinks like this, its going to happen!

"smart" poeple will simply provide some coins to be bought along the way  

[adamstgBit]

we are at a resistance zone, the next 24 hours are CRITICAL

[adamstgBit]

ok i really gtg.
later mofos!