Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24547. (Read 26712678 times)

LOL $414 again. Bear traps or bull traps? We'll see

Put the price back. Wire transfer is on its way.

how does 796.com work if you only can deposit cryptos ? I dont know if I get futures markets in crypto world, what exactly you get if you sell or buy at some price that is still in USD dollars ?

Actually I wouldn't have any problems collecting more coins, if it took another 6 to 12 month to bottom out at ~0.18$ per 1 kbits. This is why "my buest guess" is, bitcoin will take the so called "weak bullish line".

Interesting action, glad i was right about 400, although it went way beyond that. I think huobi even got to 470 or something at the top?

talk about some volatility, huh

I think he was referring to shroomskit who has ignored, at a rough estimate... 90% of the forum.


EDIT: the bull is back finally

Excellent example of confirmation bias. Your bullish line is weak, little evidence it gives support. The bottoms in this chart could just as well be an inverted dish, which would mean we would be moving sideways for some months and then go down again for another 2 years..

http://i2.kym-cdn.com/photos/images/newsfeed/000/283/288/a20.jpg

OK:) And indeed, huge. Still not completely calm there..

My best guess. No new bubble until February 2015. More time to acquire cheap coinz at around 0.38-0.40$ per 1kbits. I also think there could be one last sell-off in late december/early january reaching 0.3-0.32$ per 1kbits.

(Bitstamp)

first green sliver on the 1 hour MACD since the $450 peak, on OKcoin, so things should start moving north again soon. 

In that paragraph I was not including the futures' markets like BitVC and 796.com (which, IIUC, are the only ones doing double-counting).  But the volumes during those two days were huge either way.

If Bitcoin is going to reach its economic potential it needs to be resistant to these manipulation attempts. In that sense the problem lies more with the immaturity of Bitcoin rather than that the world is filled with donkey holes. I am sort of surprised though at the lack of help from "early" early adopter evangelists to stabilize the currency.

They offer 20x margin, so every 1 coin you have... you can trade 20.

Fucking sickkkkkkkkkkk

I'm up 2btc off a 1btc deposit this evening prob lose it all, but I'm having a good time!

Is that with or without counting all trades twice?
http://www.coindesk.com/asian-exchanges-adopt-controversial-counting-method-futures-trades/

Volume at OKcoin  was 429 kBTC on 2014-11-12, 609 kBTC on 2014-11-13.  The previous high was 286 kBTC on 2014-03-05; typical volume for several months until 2014-10-03 (start of last recovery) was ~50 kBTC/day, and 110 kBTC/day in the few weeks until 2014-11-11.

The numbers at BTC-China on those two days were 371 kBTC and 508 kBTC.  The previous high was 132 kBTC on 2013-12-07.  Typical recent volumes were ~7 kBTC/day until 2014-08-13 (when they removed the trading fees?), then growing steadily to 90 kBTC/day by 2014-11-11.

The numbers at Huobi were more modest, 211 kBTC and 232 kBTC, against a previous high of 352 kBTC on 2014-02-25.  Typical volumes were ~35 kBTC/day before 2014-10-03 and ~90 kBTC/day during the last recovery.

Bitcoin futures at BitVC (the international branch of Huobi) and "796" were also huge on those two days, on the order of 1 million BTC/day.  

I have not looked at the other big Chinese exchanges that are not listed at BitcoinWisdom.

My best guess at what happened is still that statement by the OKcoin tech guy, that "a three billion euro hedge fund is going to be trading on our platform".  Bitcoin news sites and many traders interpreted that as "the fund will start trading bitcoin", but there was no confirmation, and many were skeptical.  To me, the words "on our platform" (rather than "at our exchange") mean that they will be using OKcoin's software and/or servers to trade their shares, not bitcoin.  That would be great for OKcoin but irrelevant to bitcoin.  If this interpretation is correct, it could explain why the price crashed right after the rally, and is now returning to the pre-rally levels.

Whatever the cause, this 3-day rally and crash generated trades totaling over 1 million BTC at OKCoin, several million BTC overall.  The exchanges must have collected several million dollars in fees and interest, and arbitragers (possibly the exchanges themselves) must have made many millions too.  

If the "hedge fund" explanation is correct,  it may have been the most profitable misunderstanding in the history of bitcoin.

Mehehe they should put more plastic elsewhere..

A good example of an bitcoin "tech entrepreneur". Just like some people here consider themselves as "tech entrepreneurs", after they figured out on how to buy coins from an exchange, and then sit on their coins without doing much else. Some miners also consider them as "tech industrialists", after they order mining equipment and plug it in

These kinds of news can have importance to BTC's price though. What BTC currently needs is dumb money from loads and loads of people. Meaningless celebrities can actually tune BTC into this channel. The chances of smart money entering BTC is very small, but one should never underestimate the power of stupidity.

http://news.bitcoinial.com/news/kim-kardashians-lessons-for-the-bitcoin-card-industry-paymentssource

Damn... ALL THIS and brains too!