Wall Observer - MtGoxUSD wall movement tracker

[420]

gox and clarkmoody slow is very frustrating

Last price:$18.99000 High:$21.10000 Low:$18.60000 Volume:66214 BTC Weighted Avg:$20.25205

[smoothie]

LOL wow that was a "dump"? One dumbass jumping off a cliff.......

[🏰 TradeFortress 🏰]

Massive dump..

[420]

Last price:$18.97200 High:$21.10000 Low:$18.00000 Volume:73071 BTC Weighted Avg:$20.07451

[keewee]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

[John (John K.)]

Looking for my chance to buy now...

[Nemesis]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

[GeoRW]

hopefully the whales have still enough money to drive the price back above 20$   Wanted to milk them a little bit more next week.

[keewee]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though 

[DoomDumas]

hmm, 5-10 % correction.. I'm sure we'll be over 21$ on monday night, when my funds (1.5k$) will be availlable to buy BTC.
No problem, I'm buying all I can under 50$ !



Feel free to quote me in a year !!!!!

(no one will do, as old-quoters are quoting failed prediction )

[oakpacific]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though 

It was not a lot, if that's all the ammunitions they have.

[Nemesis]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though 

From the data feed, it was nowhere near that. I bet those walls were pulled off by bots. Don't trust those walls as real volume.

[keewee]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped  

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though  

From the data feed, it was nowhere near that. I bet those walls were pulled off by bots. Don't trust those walls as real volume.

I was watching it on Clark Moody as it happened, but I guess that data could be incorrect. What walls? There were no significant bid walls down to 18.60ish on Mt Gox Live before the first 10,000 got sold and it indicated 15,000 to get down to that price

[Nemesis]

what a fcking roller coaster.... if this keeps going on, how the hell can bitcoin attract new merchants and users?

[420]

what a fcking roller coaster.... if this keeps going on, how the hell can bitcoin attract new merchants and users?

quote the silver market april may 2011

[SlaveInDebt]

Uhhh what happened? 

[JMcGrath]

hmm, 5-10 % correction.. I'm sure we'll be over 21$ on monday night, when my funds (1.5k$) will be availlable to buy BTC.
No problem, I'm buying all I can under 50$ !



Feel free to quote me in a year !!!!!

(no one will do, as old-quoters are quoting failed prediction )

I'll quote you in a year from now   Got it set in my calendar lol...

I'm all for the positive speculation on Bitcoins and I've told the members on my forum to hold as well. I think we'll see a significant dip after BFL ships their SC Lineup but I'm thinking we'll see at least $35-40 in a years time. I hope no one takes offense to this, but you have to realize that much of the Bitcoin market is made up of kids and amateur traders! When a MM moves in like this, there are thousands of small accounts that follow in a panic sell simply because they aren't as educated in real trading. I was the same way when I started playing around with day trading in other markets years ago but I have learned my lesson - common sense tells you to buy low and sell high, but to the rookies or people with weak stomachs emotion takes over 99% of the time! People need to go into any trading situation with a specific stop in mind before they ever purchase IMO.

I don't know what it is about weekends and Bitcoins, but like a previous post said, I've come to enjoy Monday's more than the weekend! Just speculating here, but anyone have any insight into why this is? My best guess is that the "kids" are out of school and/or people let their miners run during the week and sell off what they made when they have time at the end of their work week!?


LOL - already made nearly 10% since I started writing this post Thanks whoever just dumped all their BTC!

[thoughtfan]

...BTC market cap, in USD = BTC value adjusted for BTC rate of inflation, in USD

Whan speaking of bitcoin, is deflation a more appropriate term ?  IMO, Bitcoin are in deflation, not inflation !  I'm I wrong ?  if yes,, why ?

It's not that it's a more or less 'appropriate term'.  Correct me if I'm wrong but I think you're thinking of 'inflation' in the way it's used by politicians and the papers rather than as an economic technical term.  There are two distinct meanings.  The more common usage is measured relatively to what can be purchased with a currency. e.g. a how much a set 'typical grocery basket'  costs to buy a year apart.  In that sense of course Bitcoin is deflationary.  But the technical use is to do with supply money supply.  Bitcoin is only deflationary from a technical perspective if more coin is being lost than is being introduced which is very unlikely to be the case.  In terms of 'market cap' measured in USD it can only be higher with Bitcoin at $20 than it was at $30 if there are > 50% more Bitcoin in existence i.e. its supply has inflated by 50%, which is how thefiniteidea is using it above.

For fun I posited in another thread that relative to total supply even the rate at which Bernanke's extreme USD inflationary policy is being implemented, as a monthly rate he's only introducing approximately half as much new currency as Bitcoin is.  Of course this doesn't tell the whole story because for BTC we know from Day 1 how the monetary supply will pan out but despite the popular notion otherwise, for the next few years the rate at which new coin is introduced makes Bitcoin a heavily inflationary currency

[Bowjob]

Can you guys keep on buying? I need the price of BTC to reach 20ish to purchase an Avalon. I've only put 80 BTC aside for this, accounting a small dip.. but not this huge of a dip!

[GeoRW]

Down...

Meh, its only down a little.  We could be plateau-ing here for a bit before we move up again.  
I think its likely we'll have support at $19.5.  If not there then $17.7, but I don't think we'll go that low.

Only 4000btc to get to $17.70, after about 25,000 gets dumped 

How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)?

Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though 

It was not a lot, if that's all the ammunitions they have.

10k is not a lot considering there's in average 3600 new bitcoins mined each day