Wall Observer - MtGoxUSD wall movement tracker

[keewee]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

[humanitee]

16k in the past 15 minutes.

[keewee]

[dree12]

Bubbles happen both up and down. If this mass selling continues, we may as well see a reverse pop.

April is now deeply in the red thanks to the past few days.

[fitty]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

[dree12]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

[mike938]

400+ bought at $72 just now

[dree12]

400+ bought at $72 just now

Coming up: 4000 sold at $62.

[01BTC10]

Sell while you can  

Buying all your coins at 10-20$

[seleme]

can't believe btc-e went down now, just can't believe.. aaaaaaargggghhh

[fitty]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

[just1nmc]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload  

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

There's also quite a few people who aren't big investors, but also have that many coins. Someone on reddit hit over $1 million a couple weeks ago, with a fairly small initial investment. They planned on cashing out slowly.

Seeing a crash like this could easily lead someone to selling it all off at once.  

[ineededausername]

Is there some bad news I'm unaware of, that would make it rational to move down 30% in a day?

[Krabby]

I'm an idiot.
I got the buy and sell mixed up and sold at 66 instead of bought and brought at 70 instead of sold >.<

[seleme]

Is there some bad news I'm unaware of, that would make it rational to move down 30% in a day?

there was bombing attack in Boston though I think it started to dip earlier

[dree12]

Is there some bad news I'm unaware of, that would make it rational to move down 30% in a day?

The price was moving up almost 30% in a day, even though there was no really "good news" to support it. This slip is the correction. Bitcoins remain overvalued IMHO.

[seleme]

I'm an idiot.
I got the buy and sell button mixed up and sold at 66 instead of bought and brought at 70 instead of sold >.<

it happens to me often...

btc-e probably costed me 5-10% going down now, had all ready for good trade.

[shad0wbitz]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

[ineededausername]

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload 

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

Yup, get out, BTC is worth $0 now, I am dumping everything!  It'll just keep going down to nothing.  Those large 50k+ BTC bidwalls in the teens will get pulled, as will the millions of dollars above them in the orderbook.  Bitcoin doesn't work anymore.

[seleme]

btc-e, so reliable so far and dies in such moment