Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18293. (Read 26608439 times)

I don't see how it would've been possible if bitfinex remained the go to exchange for usd. those types of price levels demand major oversight before big money even dreamt of going in.

anyone professional looking hard at bitfinex would shake their head and walk away laughing. I still can't believe that people awarded it the number one spot after all the shit that's already gone down in the past. at heart it really wasn't all that different from mt gox.

bitfinex was "leading" because it had more than double the volume then the #2 btc/usd exchange ( bitstamps, which at one time was leading )
when bitfinex went down itBit had the most volume, and seemed to be ahead price wize, it was always  higher than other exchanges during the bounce.
but i think its important to look at the top 3 exchanges they all have very similar volume. itbit has the most volume tho.

http://bitcoincharts.com/markets/  

we all suspect, CNY volume is exaggerated... also things are priced in DOLLARS not silly cny.
CNY exchanges came much later, and so they faked there volume in order to get noticed. and there still at it apparently in the past 24 hours over 15million coins have been traded in BTC/CNY lol what a joke.

Edit: it would appear that http://bitcoincharts.com/markets/    is reporting very inconsisten volume number for OKCoin an BTCchain feels like its broken some how. oh what ever BTC/USD thats all we need to look at...
Edit 2: oh i'm reading it wrong i was looking at 30day volume.

Glad to see you're still around, I thought maybe at some point you'd get cleaned out but it seems you're doing fine, kudos!

This whole bitfinex thing is the main reason I've been advocating "as low as possible for as long as possible"  just imagine the political fallout from this kind of "hack" if the price had been 10 or 100X where we are today.

Best case scenario for the long term, in my opinion, is if we can remain below ten billion market cap for as long as possible while the kinks get worked out.

This shit might be game changing, but it's nowhere near prime time.

BFX coin to the moooon! 

Nope, kraken is still 10€ down since that new. But it will recover.

I understand and recognize that in about the past year or so, a lot of folks had been gravitating towards Bitfinex as a leading indicator of price direction and moving away from Stamp...   So now, Itbit is in the price setting scene?  

I understand that price can be set in a variety of ways and through a variety of exchanges, but I really have difficulties considering how Itbit could come on the price setting scene so quickly when a lot of places don't even list their volume, so if you have to go out of your way to figure out information about them, then how could it be that they are influential in driving price direction?

hahahaha... you are acting quite comical, and perhaps, just perhaps, you attempted to think about what I had written and what you were going to say in response...

Good job!!!!!   

 




That is correct.. each of us knows about various events, and we have various experiences that shape our views, and in the end, we respond based upon that.. and maybe even in the process disclose some of the reasons why and how we arrived at our conclusions.



Yes some of those events are more important than others, and even within the events that you describe above, their trajectories are somewhat unknown and some of them will play off one another and people will account for the events in different ways - that is if they even know about them or know details.




There you go, again.. Engaging in a kind of regression back to a kind of fatalism - as if bitcoin's trajectory were inevitably up or that the outcomes of the various events that you describe are of such a nature to inevitably cause your description of bitcoin's upward price trajection.



Oh?  Even you recognize that there could be a "maybe" in there somewhere?   



Did I say anything about "dump, dump, dump"?  I mentioned possibilities of downward price action.

Anyhow, it may be worth it to repeat that I generally sell as the price goes up and buy as the price goes down.  I might preemptively strike in one direction or another if I have a pretty high level of confidence that the price is going to be adjusting by at least 10% in one direction or another - but those kinds of preemptive strikes are pretty rare for me, and tend to make me nervous too.

The last time that I employed a preemptive strike was last week, upon hearing about the Bitfinex situation.  I sold about 3% of my total BTC stash at $583.50 and then bought back at about $508.  I was attempting to buy back during the flash crash to $465, and by the time that I caught up with the matter, the price was in the $488 territory, and since I could not get my transactions to go through, I ended up buying back at about $508.



That is a relative perspective regarding "wuss", and it really does not mean anything.... I believe that I have  a pretty significant investment into bitcoin, and I tend to accumulate and HODL, even when quite a few other folks seem to be selling.




I am not really an evangelist of anything, but I do tend to tell people about bitcoin to the extent that they seem interested in the concept and receptive in receiving information from me.



Well, I am glad that you are attempting to be "honest"




Yeah.  1 coin should be a decent investment for anyone who might not have a large budget, but they want to get some stake in the game.

Now if you could just get another 20,999,999 friends and convince them to buy at least 1 bitcoin, on or before 2140, we may end up experiencing a bitcoin shortage, which would be a "good thing," correct? 

i think generally when we see market drop that low and bounce back hard, there is *usually a "second wave" of selloffs ( no matter the circumstances )

but as bitmovements points out, its kinda looks like that second wave dumped, but there was a whale catching all the coins and not letting price drop.

see the charts on my latest bitmovements.

altho, we did not see the same kind of "high volume low movement" action on coinbase or bitstamp...

Curious factoid: On the sixths day of August, Little Boy exploded over Hiroshima.
August the ninth, one can assume, was an ordinary day.
A day like any other day.

P.S. The surrender of Japan was announced on August 15, which is a whole week away, and the surrender agreement was not signed until September the second, as I have just learned from Google.

So what I'm trying to say is don't worry everyone, we got nothing but time.

I'l let that sink in a bit...

waiting..


waiting..


waiting...

Waiting some more...  ok.. waited enough! ... So you: "don't proclaim to have any extra hidden insight" ... Well in the context that we are facing now... And by that meaning the real world is on a verge of a major banking and everything else collapse, China floods, India floods, +other Asian countries... France floods that made wheat production fall by at least 30% from the estimates... Also South America and other South Hemisphere countries have problems because the incoming mini-ice age... if you don't know on the trading of coffee ... this is the 4th year that the real world coffee productions has suffered losses! .. on average in the last 4 years losses of 30% !!! ... And other things as well... Austria received snow and floods never seen in 100 years... Italian banks are thinking of confiscating population money, EU does not let them, Germany and Deutsche Bank seems to be screaming for some bail out money... then there comes Portugal... Spain.. UK.. even if I think Spain is almost safe. And besides that there are weird wars and political events happening... And all this nonsense will make BTCitcoin go to 2k - 3k in the next year! And maybe 10k+ after 2018+ ... So I don't understand from where is this "dump, dump, dump!" FUD from you is coming... Why are you such a wuss? ... You should be spreading the word... our lord and savior "JesusCoin"BTCitcoin will prevail... and to be honest I told all my friends to try to invest and get at least 1 coin for fun.. It can't hurt them in the long term. BTCitcoin has good "HODL" storage value in the long run!

There's no much to be said. We are in a sideway trading range looking a bit more down than up. That's it. Ordinary days.

I guess the answer to the first one is "no."

From https://www.bitfinex.com/features "Margin Trading -> https://www.bitfinex.com/pages/howitworks" -- 404, it doesn't.

"Margin Funding Market -> https://www.bitfinex.com/pages/howitworks" -- 404, it don't.

"certain features" may not be available to US users ... https://www.reddit.com/r/Bitcoin/comments/4wy0ay/bitfinex_new_disclaimer_bfx_not_available_for/

Frequently your logic (or lack thereof) escapes me.

I may not post uber bullish scenarios; nonetheless, I recognize uber bullish scenarios, and I attempt to provide, opinion, factual description and logic in such a way that takes into account both upside and downside potential.   I don't proclaim to have any extra hidden insight nor agenda beyond what I periodically disclose in my posts.

You, on the other hand, seem to get so caught up in describing every situation as "up, up, up" that you either are living in a fantasy world, you are badly informed or you are merely trolling.



Maybe you need to recognize that no matter what the price point, there are possibilities that the price could move in either direction?

Certainly, the lower the price is dumped, the more difficult it becomes to push the price lower - nonetheless, any price point has probabilities on both ends.. .and maybe you disagree with my current approximate assessment that there could be around a 30% chance that we see $520 before we see $640... and even though your language seems to be suggesting that the probability is zero%, even you would concede that there is some probability that we could see $520 before $640, and currently, it is only a matter of degree between you and me.. or anyone else for that matter who is attempting his best to make approximate predictions regarding probabilities of price movements in either direction.




Sure, sometimes events, such as the Bitfinex "hack" could cause a price direction to happen more quickly or more severely than it otherwise would, yet there is no such thing as fate in regards to these kinds of matters, and accordingly, outside events change the trajectory forever (maybe only in minor ways, especially when we may be referring to longer time periods, but if the event is significant enough, there can be considerable changes in the short and medium term trajectory that may even shift the long term trajectory, depending upon severity of the event(s))

...

Good one!


... But dunno... he seems to pray each night at "Fiat Gods!"

When you can't redeem one USDT for one USD, how pointless can a peg possibly be? I warned before that people were likely selling under the illusion that they were exchanging BTC for USD when in fact they weren't. Now they're paying the premium...

Price cannot drop on a crypto tied to the price of the dollar.

Unless this was some centrally controlled crypto...oh wait.

Should've just had an Excel spreadsheet to keep track of everyone's balance.

Could it be ...
https://i.imgur.com/4u5X9bj.gif

I still don't understand who are you working for... or what agenda you are on to unleash. But your bearish doom and gloom propaganda it ain't flying with me.

Maybe it will dip a bit before skyrocketing ... but it is sure cheap coins lower than what we have now is very unlikely! Especially in the long term!

*Edit: the incident with Fenix  that just happened just made things to be rushed 1-2 months in advance of schedule.

T|hat was a tiny price drop of $10, and the price has gone back up by $10 to where it started from. Until Bitfinex opens up trading and withdrawals the price will go sideways. The trading/withdrawals is the only thing that's going to move the price.

We already experienced one flash drop to $465, and then a pretty significant recovery.

I suppose it is possible that before we go up, we are going to have to go down first, but such downward correction is not guaranteed because hovering in the $500s for more than a week may be sufficient downward opportunities to buy... "cheep coins."