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

[ShroomsKit]

Down a few dollars. Back up by this afternoon?

About 900.

[galdur]

Judging from the dysfunctional behavior I mentioned before

it´s very likely a scam of some sort. So, selling it short will

continue to be a 100% sure thing next year as it has been

this year.

Market sense; Sell any pop. Demand very high yield from

cloud mining contracts, definitely not less than 2% per day.

Same goes for purchase of mining equipment.

[ShroomsKit]

I just realized there is this Bitcoin superbowl thing going on. No idea what it is but apparently it's quite big and a lot of eyes are lointing our way.
That makes that dump even more messed up. How much more obvious do you want it. These people are doing everything they can to scare away new people from Bitcoin. They won't stop till there's not a single buyer left.

[ChartBuddy]

Explanation

[N12]

wha happund?

What's the problem?

Why is there no party? Cheap coins for everyone!

I don't get it.

There's a party, you just haven't been invited. I wonder why.

[inca]

I just realized there is this Bitcoin superbowl thing going on. No idea what it is but apparantly it's quite big and a lot of eyes are lointing our way.
That makes that dump even more messed up. How much more obvious do you want it. These people are doing everything they can to scare away new people from Bitcoin. They won't stop till there's not a single buyer left.

Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards!

Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches.

[phoenix1]

Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards!

Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches.

Didn't exactly look like the buyer you were celebrating last night was seeking best price either. You can't have it both ways.
'Hmmm ... it's genuine buying when someone tears through the order book on the upside but its a conspiracy when they market sell'. That makes zero sense.

The only logical conclusion is that Shroomskit is right and all traders are idiots  

And Blitz, I reckon Shroomy would be a real hit at parties. I mean, can you imagine  ... it'd be like inviting Scrooge round for Xmas dinner - that has to be funny

[inca]

Yep. Whoever dumped 1000 coins on bitstamp certainly wasn't seeking best price - just to move the price downwards!

Bitpay as is previously documented do not just directly dump onto exchanges, and certainly not in large price moving tranches.

Didn't exactly look like the buyer you were celebrating last night was seeking best price either. You can't have it both ways.
'Hmmm ... it's genuine buying when someone tears through the order book on the upside but its a conspiracy when they market sell'. That makes zero sense.

Fair point. And that is why I don't really care about the short term price fluctuations. Everything above 275 is noise until we get to about 480 or so. Some upward noise would be nice, though.

[aclass]

so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250

[S3052]

so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250

or 175...

[Davyd05]

so 275 is the bottom for you?
if we see a big dumper coming around like the last sub 300, we might even hit sub 250

or 175...

it'll go as low as the support will allow. But still in the process what I can only hope is new joiners are getting some coins, and not purely for speculative purposes.

[JorgeStolfi]

What kind of business model dumps large amounts at market?

* Owner needed some money quickly

* Bitcoiners made many purchases through Bitpay when price was 318$; Bitpay sees that price is 327$, sells the coins before it drops back to 318$ and below.

* Private investor bought a bunch off-exchange for 320$; ditto.

Probably many more...

[coinmaster222]

You cannot take this period of time into consideration as its the holidays and people need to sell.There is really no liquidity in the market just now and medium size sales can have large effects on the market.Fact 80% of all mined btc is in wallets not opened in 6 months.

[ChartBuddy]

Explanation

[unent]

What kind of business model dumps large amounts at market?

* Owner needed some money quickly

* Bitcoiners made many purchases through Bitpay when price was 318$; Bitpay sees that price is 327$, sells the coins before it drops back to 318$ and below.

* Private investor bought a bunch off-exchange for 320$; ditto.

Probably many more...

Bills come in at the end of the month/quarter and businesses need money to pay them.

[inca]

so 275 is the bottom for you?

I have no idea, but I would guess so.

It is difficult to value btc but the price has been higher than 275 for over a year now. In that time a lot of positive things have happened in the space, many that would not have been predicted with a straight face just a year ago.

We are in Holiday season and nothing that happens now is really that significant IMO (see volume). I think we see another pump next year which will draw in the next adoption wave.


Edit: I see stolfi is now posting in buttcoin. Impartial academic my arse!

[thejaytiesto]

so 275 is the bottom for you?

I have no idea, but I would guess so.

It is difficult to value btc but the price has been higher than 275 for over a year now. In that time a lot of positive things have happened in the space, many that would not have been predicted with a straight face just a year ago.

We are in Holiday season and nothing that happens now is really that significant IMO (see volume). I think we see another pump next year which will draw in the next adoption wave.

Bottom is around 245 for me right now. Panic buys should start if it goes below there.

[Davyd05]

so 275 is the bottom for you?

I have no idea, but I would guess so.

It is difficult to value btc but the price has been higher than 275 for over a year now. In that time a lot of positive things have happened in the space, many that would not have been predicted with a straight face just a year ago.

We are in Holiday season and nothing that happens now is really that significant IMO (see volume). I think we see another pump next year which will draw in the next adoption wave.

Bottom is around 245 for me right now. Panic buys should start if it goes below there.

Breaking the old ath of, will be an intense time frame.. we'll find out if we have lots of support or capitulation shall be interesting to see what happens.

[BitAddict]

Coming from Russia I won't believe it until they have some real laws about that, not just words.
Personally I don't buy it, but here you have the news.

"Yes to bitcoin! Russian ministry says quasi-money ban may endanger banks, retailers"
http://rt.com/news/218019-bill-ban-bitcoin-russia/

[ChartBuddy]

Explanation