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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33671. (Read 26720873 times)

legendary
Activity: 1148
Merit: 1018
Something weird here:

Look at that chart. Both the bid and ask amounts are declining. But then you notice that a "tick" down for bids is drawn in such a way that it is much more than a "tick" down for the asks. Yet, the price is going up. The only logical conclusion that can be drawn from this is that people are slowly realizing that being in the Gox orderbook (which is public knowledge and reported as market depth) is an inherent disadvantage, and thus while the bid and ask sums are declining the trades are still being executed through market orders or very-close-to-market-orders.

IMO that only means that both fiat and coins are saying "bye bye" to MtGox, slowly but steadily.
full member
Activity: 168
Merit: 100
Something weird here:



Look at that chart. Both the bid and ask amounts are declining. But then you notice that a "tick" down for bids is drawn in such a way that it is much more than a "tick" down for the asks. Yet, the price is going up. The only logical conclusion that can be drawn from this is that people are slowly realizing that being in the Gox orderbook (which is public knowledge and reported as market depth) is an inherent disadvantage, and thus while the bid and ask sums are declining the trades are still being executed through market orders or very-close-to-market-orders.
legendary
Activity: 1442
Merit: 1000
Antifragile
OK summary time:

-Asks are dropping
-Bitstamp Orderbook is looking better every hour
-We are still at 125, though on low volume, nothing pulled it back this time
-Low Volume german exchange bitcoin.de: availaible Coins steadily decreasing
-Recent Good news not priced in yet ( i think)
-No Apocalypse regarding the dwolla issue Wink
-Another spike in Chinas interest this week (yeah i wouldn't call it a hype either, but you get the idea)

Bullish to me, see you at the top.




Thanks for the info.

How are you tracking Bitcoin.de's available coins? I see it available on their marketplace section of the website, but is there also a record of it? (You have one maybe???)
I just looked and there are 4369 coins available. I think the other day it was at 7k but can't be sure.
member
Activity: 84
Merit: 10
That's the thing about China, you can get wiped out by the CCP at any time, and once it begins you can't do anything about it. People who are throwing huge sums of BTC into Asic Miner shares don't seem to realize that. The risk of ruin from being totally wiped out in an AM investment is multiple times higher than being totally wiped out in a straight BTC investment is. But people are thrilled to get 0.02B in dividends, so they get what they deserve.
sr. member
Activity: 350
Merit: 250
This account was recently hacked
Trading appears to have stopped, this seems suspicious

Edit:  One or two trades happening now, maybe everyone was just on a tea break
legendary
Activity: 2097
Merit: 1071
As this is our own FUD-spreading thread, let me quote you the email that the Blockchain.info operator got from Twilio, regarding a possible action against Bitcoin in China:

Quote
Hi Ben,

We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked.

As the provider of the phone number, Twilio is responsible for assuring the carriers that no more traffic related to bitcoin will be sent to China. Therefore, I have removed your international SMS permission to China. Please do not turn this on or try sending SMS messages to mobile numbers in China. Doing so will very likely lead to immediate account suspension.

Again I'm sorry for the convenience. Please let me know if you have any additional questions.
Thanks,
Twilio Customer Support

Source: https://bitcointalksearch.org/topic/m.2243603

Any Chinese who want to buy will find a way, especially if it's banned.
legendary
Activity: 1148
Merit: 1018
As this is our own FUD-spreading thread, let me quote you the email that the Blockchain.info operator got from Twilio, regarding a possible action against Bitcoin in China:

Quote
Hi Ben,

We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked.

As the provider of the phone number, Twilio is responsible for assuring the carriers that no more traffic related to bitcoin will be sent to China. Therefore, I have removed your international SMS permission to China. Please do not turn this on or try sending SMS messages to mobile numbers in China. Doing so will very likely lead to immediate account suspension.

Again I'm sorry for the convenience. Please let me know if you have any additional questions.
Thanks,
Twilio Customer Support

Source: https://bitcointalksearch.org/topic/m.2243603
legendary
Activity: 2097
Merit: 1071


That's much better than before.

If you had the numbers for each dollar rotated 90 degrees it would be even better. Then you could display the $ amounts for every $ and not every 5.
legendary
Activity: 2097
Merit: 1071
While the relly at mt.gox is taking a small breather, at bitstamp BTC continue to be bought up.
Ask wall at 120.5$ just got broken through. And isn't it crazy that the ticker for the last 2 1/2 hours on bitstamp looks like a moving average? There aren't any downticks at all.  Shocked


That's hardly surprising considering how low the bid amounts and quantities have been.
member
Activity: 70
Merit: 10
While the relly at mt.gox is taking a small breather, at bitstamp BTC continue to be bought up.
Ask wall at 120.5$ just got broken through. And isn't it crazy that the ticker for the last 2 1/2 hours on bitstamp looks like a moving average? There aren't any downticks at all.  Shocked

Edit: pic as proof:

legendary
Activity: 1148
Merit: 1018
It looks like the ask wall at $127 is not going to be removed. Anyhow, it is a miniwall (aprox. BTC700). Let's see if the bulls are able to make it fall.

sr. member
Activity: 252
Merit: 250
ATTENTION SHOPPERS. ATTENTION SHOPPERS.
We are having a 5% discount sale on Bitcoins all this week.
Head on over to the BitStamp aisle where we have half a million dollars for the first customers in line.
Thank you and have a nice day.

ATTENTION SHOPPERS.  ATTENTION SHOPPERS.

We regret to inform you that the sale has been cancelled.
This employee has just been fired for spreading false rumors.
Please return to Mt.Gox so the rest of us can continue to take
advantage of the BitStamp discounts.

Thank you and have a nice day.   Grin
legendary
Activity: 2097
Merit: 1071
ATTENTION SHOPPERS. ATTENTION SHOPPERS.
We are having a 5% discount sale on Bitcoins all this week.
Head on over to the BitStamp aisle where we have half a million dollars for the first customers in line.
Thank you and have a nice day.

A lot of those coins are not going to get sold on Bitstamp, they will end up back on MtGox.
full member
Activity: 204
Merit: 100
I wouldn't consider bitcoin as a "safe" heaven, but the alternatives have turned sour in the last few days/months...

Gold and silver are down
stocks just took a beating (2008 in the making ?)
fiat is being constantly inflated
commodities are up but for investing

so probably a lot of investors are getting out of the stock market at the moment and while they won't go all in we may see some now money testing the waters over the next few weeks.
sr. member
Activity: 453
Merit: 250
ATTENTION SHOPPERS. ATTENTION SHOPPERS.
We are having a 5% discount sale on Bitcoins all this week.
Head on over to the BitStamp aisle where we have half a million dollars for the first customers in line.
Thank you and have a nice day.
member
Activity: 79
Merit: 10

Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?

Simple, just base it on the logarithm of the price.
member
Activity: 70
Merit: 10


look at the changes in asks and bids: lots of asks pulled, and lots of new bids inserted.

though I've also got a question: what is up with green downward bars on the bid side?  Undecided
full member
Activity: 224
Merit: 100
We're getting major lag spikes. Haven't seen these in a while



On a more serious note...can anyone here speculate as to what has driven demand these past few hours? The only significant news in that window was the Nikkei crash.

Are people really seeing bitcoin as a safe haven? Or is something else at play?
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1148
Merit: 1018
The last few days the price moved up when volume increased, went down when it decreased.

That's a good sign for the bulls. Buyers may get impatient.
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