Wall Observer - MtGoxUSD wall movement tracker

[BitPirate]

All-time high!

Regarding the 20k wall, if they are trying to improve the market, I'm not sure of its efficacy. Do institutional investors really want to see rampant manipulation?

[1714094313]

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[1714094313]

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[klee]

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round 

How can people buy/sell so large amounts? This is not smart...all these vertical ups & downs make little sense for the serious trader.

[samson]

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round 

I'm thinking of one of the large exchanges trying to lure in the big investors and attempting to control the volatility.

Someone like MtGox or Coinlab would benefit over the next few months by seeing high growth week on week but not massively unsustainable growth.

[Zomdifros]

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round 

Perhaps it's just an early adopter with more than 100k BTC at hand, there ought to be a couple of those guys around. Someone wants to buy a boat, I guess.

[klee]

79$

[Piper67]

Aaaaand it's gone!

Edit: aaand it's back!?!?!?

[BitPirate]

The wall at 80 seemed to disappear, but it's back again?? A jittery wall perhaps, with the price running up like that?

[BitPirate]

Gone again!

3k to $80!

[klee]

I think the current fair price would be 83.5$ (65euros). Europeans lead this time because they are in real hard times so they simply don't trust fiat.

It has begun...

@Proudhon forget single digits we will have triple real soon!

[Zomdifros]

In other news, if you want to buy some coins below $74 there are still some people at BTC-E willing to do business with you. Can't imagine why though, but these should be good times for arb traders.

[samson]

In other news, if you want to buy some coins below $74 there are still some people at BTC-E willing to do business with you. Can't imagine why though, but these should be good times for arb traders.

Just try getting some USD on there and you will see why they are selling at lower prices.

[DougTanner]

Almost at $80, fake wall removed.

[rpietila]

So if I deposit BTC from MTGox to Bitcoin 24 and withdraw there in Euro, transfering by wiretransfer the cash back to my Bank / MTGOX  i can practically make extra cash, especially when selling out my BTC?

Currently at Bitcoin24 EURO 64.33, thats $ 82.73, means about $ 4 profit / 1 BTC.

For my 500 BTC it makes a difference in profit of $ 2000 !!!   Is that real?

EDITED

So what happens when the price keeps rising and you've done a few trades like this and now all your money is in Euro on Bitcoin24 and you've ran out of BTC on MtGox ?

Then you need to start sending wires right ?

If you just wait a bit they will catch up in value anyway, unless there's some kind of reverse trend, correction or crash.

You shouldn't have to transfer fiat from Bitcoin24 to MtGox for the trade itself, you should do this with some extra fiat you'd otherwise wouldn't invest in Bitcoin. Selling at Bitcoin24 and buying at MtGox should be done within a few seconds, to minimize the risk the price moves within your trade. When the trade is done, you could send some or all of your excess fiat from Bitcoin24 to MtGox when you expect another situation where Bitcoin24 trades at a premium.

The risk is that if you're inexperienced, it's easy to make some stupid mistake which could cost you lots of money. For that reason I prefer a buy and hold strategy.

Same strategy for the same reason...

There are not so many people in the world, who can follow Bitcoin 24/7 and have the resources to understand what is going on. That is why it seems that the market is mispricing things. We are the market, and we don't have any more capacity to arbitrage, it is currently maxed out, since to do effective trading, you need:
- time
- skill
- money.

I personally bought $130k during the last 21 hours in Bitstamp, admittedly paying more than in Gox, but I did it anyway, cold-bloodedly sending my money to the less liquid exchange because I knew I would get it there sooner. I sent a smaller chunk to Mt.Gox at the same time, yet it is still not there yet. Gox is already higher than my average entry price (of the last 21 hours).

I anticipate we breach $100 tomorrow or Thursday with 40% probability, latest next Monday in 15% probability, later next week in 15% probability, and this spring in 15% probability. See, I think there is only about 15% chance that we will not break $100 (before the summer). Do you think I am the only one with time, skill, and money. Yes, maybe for now, but there will be more in the future. I know of many, that is why I am maxing out.

We are in the process of making a killing. Just be careful with the "sell" button, it is red for a reason  

[Liquid]

[klee]

So if I deposit BTC from MTGox to Bitcoin 24 and withdraw there in Euro, transfering by wiretransfer the cash back to my Bank / MTGOX  i can practically make extra cash, especially when selling out my BTC?

Currently at Bitcoin24 EURO 64.33, thats $ 82.73, means about $ 4 profit / 1 BTC.

For my 500 BTC it makes a difference in profit of $ 2000 !!!   Is that real?

EDITED

So what happens when the price keeps rising and you've done a few trades like this and now all your money is in Euro on Bitcoin24 and you've ran out of BTC on MtGox ?

Then you need to start sending wires right ?

If you just wait a bit they will catch up in value anyway, unless there's some kind of reverse trend, correction or crash.

You shouldn't have to transfer fiat from Bitcoin24 to MtGox for the trade itself, you should do this with some extra fiat you'd otherwise wouldn't invest in Bitcoin. Selling at Bitcoin24 and buying at MtGox should be done within a few seconds, to minimize the risk the price moves within your trade. When the trade is done, you could send some or all of your excess fiat from Bitcoin24 to MtGox when you expect another situation where Bitcoin24 trades at a premium.

The risk is that if you're inexperienced, it's easy to make some stupid mistake which could cost you lots of money. For that reason I prefer a buy and hold strategy.

Same strategy for the same reason...

There are not so many people in the world, who can follow Bitcoin 24/7 and have the resources to understand what is going on. That is why it seems that the market is mispricing things. We are the market, and we don't have any more capacity to arbitrage, it is currently maxed out, since to do effective trading, you need:
- time
- skill
- money.

I personally bought $130k during the last 21 hours in Bitstamp, admittedly paying more than in Gox, but I did it anyway, cold-bloodedly sending my money to the less liquid exchange because I knew I would get it there sooner. I sent a smaller chunk to Mt.Gox at the same time, yet it is still not there yet. Gox is already higher than my average entry price (of the last 21 hours).

I anticipate we breach $100 tomorrow or Thursday with 40% probability, latest next Monday in 15% probability, later next week in 15% probability, and this spring in 15% probability. See, I think there is only about 15% chance that we will not break $100 (before the summer). Do you think I am the only one with time, skill, and money. Yes, maybe for now, but there will be more in the future. I know of many, that is why I am maxing out.

We are in the process of making a killing. Just be careful with the "sell" button, it is red for a reason  

Fast at 100$ and then sharp correction or big battle at 98-99$ and more stability after we hit 100$?

[samson]

Do you think I am the only one with time, skill, and money. Yes, maybe for now, but there will be more in the future.

No, there are lots of people with time, skill and more money than you or I will ever have. They also have teams of people working for them around the clock making more money for them.

[lebing]

I don't think we will see anything resembling stability until we are deep  3 maybe even 4 digits.

[thefiniteidea]

So we've been hitting wall observer thread count parity...

soon, Bitcoin will overtake 

[klee]

So we've been hitting wall observer thread count parity...

soon, Bitcoin will overtake 

Is there an upper limit on the counter?

[rpietila]

Do you think I am the only one with time, skill, and money. Yes, maybe for now, but there will be more in the future.

No, there are lots of people with time, skill and more money than you or I will ever have. They also have teams of people working for them around the clock making more money for them.

Yes, lol, you see my point. These people have all the above, except that they currently have no experience of bitcoin more than you (or even me).

In a sense, if you count minimum 1.5 years of actual bitcoin exposure as a qualifier (along with 24/7 free time and $1M+ worth), I estimate there are about 100 people in the world.

3 or more years of exposure, free time + assistants doing trading for you and $10M net worth, max 10 people.

Minimum 10 years experience on trading and crypto, an organisation of your own to do what ever you command and $250M+ net worth, perhaps only MP and the U.S. government qualify.

So which one is pumping up the value..