Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24559.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: Bassica on November 13, 2014, 02:34:48 PM

What do you think about the BIT purchases 7.8k a couple of days ago, and recently 6k (btc).

I don't know... people claim that SMBIT buys off the exchanges, so those buys should not affect the price immediately. Also, miners create 4000 BTC per day, so those 15 kBTC are 4 days' worth of miners output. Is that enough to start a 100$ rally?

Perhaps the mine disaster in Thailand forced SMBIT or some other entity to buy at the exchanges instead of from those miners.

There was also news of a new NCR point-of-sale terminal that would have native support for bitcoin payments. But that news was not relevant to China, since stores there cannot accept bitcoin, AFAIK.

Wary

hero member

Activity: 798

Merit: 1000

Who's there?

Was anybody expecting the drop from 450 to 380?

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: NotLambchop on November 13, 2014, 02:49:04 PM

Quote from: Fatman3001 on November 13, 2014, 02:18:17 PM

Quote from: NotLambchop on November 13, 2014, 02:13:14 PM

"INVESTOPEDIA EXPLAINS 'SPECULATOR'
Speculators are typically sophisticated, risk-taking investors..."

If that definition makes you feel better then the best of luck to you...

Why is it that the ignorant poor are so averse to learning?
Why do you get so angry when your betters, out of the kindness of their hearts, stoop down to correct you in hopes of imparting some learnings? Hmm?

[Another bear picture]

*Dang, fell already Sad

Not being able to tell if you are a speculator or an investor has led quite a few people to bbqing rats over the fire of a garbage can while muttering to themselves "what the he@@ happened?" while simultaneously humming to the tune "Money, money, money" by ABBA.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Huobi orderbook is Wild West.

bengtåke

sr. member

Activity: 309

Merit: 250

confused developer

beep beep beep

rebuilder

legendary

Activity: 1615

Merit: 1000

Quote from: JorgeStolfi on November 13, 2014, 02:32:30 PM

It is not a "conclusion", only the best explanation I can think of at the moment. Clues:

Maybe the problem is there is no clear explanation as market movements are mostly not based on news? Maybe looking at what happens and trying to puzzle out why it happened leads people to see causal links where there are none?

natewelt

sr. member

Activity: 252

Merit: 250

I just bought some more at 386 on that 2pm dip bringing my average down a bit to 406.

I recently became bullish again with it making a higher low at 320 in early November (higher than Oct 275 low). I just needed to see a huge rip (which came from 360 to 450) and dip before buying more. I don't want to try and catch a falling knife that's why I was not buying sub 300.

We need to get back above 450 and stay there...time will tell.

Welt

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: Fatman3001 on November 13, 2014, 02:18:17 PM

Quote from: NotLambchop on November 13, 2014, 02:13:14 PM

"INVESTOPEDIA EXPLAINS 'SPECULATOR'
Speculators are typically sophisticated, risk-taking investors..."

If that definition makes you feel better then the best of luck to you...

Why is it that the ignorant poor are so averse to learning?
Why do you get so angry when your betters, out of the kindness of their hearts, stoop down to correct you in hopes of imparting some learnings? Hmm?

*Dang, fell already Sad

inca

legendary

Activity: 1176

Merit: 1000

Quote from: podyx on November 13, 2014, 02:41:52 PM

Quote from: Wandererfromthenorth on November 13, 2014, 02:41:08 PM

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

You think we'll go down again?

That's all he ever thinks

podyx

legendary

Activity: 2338

Merit: 1035

Quote from: Wandererfromthenorth on November 13, 2014, 02:41:08 PM

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

You think we'll go down again?

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

macsga

legendary

Activity: 1484

Merit: 1002

Strange, yet attractive.

Quote from: ask on November 13, 2014, 02:35:38 PM

Quote from: ask on November 12, 2014, 11:42:47 PM

Quote from: trade2winnn on November 12, 2014, 11:40:04 PM

Quote from: ask on November 12, 2014, 11:35:24 PM

Just sold 800 BTC on Bitfinex.

50K profit?

Much more. About 90k

Hi guys. I am back. Someone was buying...

Someone still does!

Sitting Bull

newbie

Activity: 21

Merit: 0

http://blogs.sevilla.abc.es/desdeeltendido2/files/2009/08/rodeo-bull-riding-300x291.jpg

ask

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Activity: 1386

Merit: 1004

Quote from: ask on November 12, 2014, 11:42:47 PM

Quote from: trade2winnn on November 12, 2014, 11:40:04 PM

Quote from: ask on November 12, 2014, 11:35:24 PM

Just sold 800 BTC on Bitfinex.

50K profit?

Much more. About 90k

Hi guys. I am back. Someone was buying...

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

the next hour is critical to the future of Bitcoin

Bassica

sr. member

Activity: 283

Merit: 250

Quote from: JorgeStolfi on November 13, 2014, 02:19:44 PM

Quote from: porcupine87 on November 13, 2014, 02:06:04 PM

Didn't watch the price the last 3days. What's going on? Huh

My guess: many traders heard "three billion hedge fund will be trading on OKkoins platform" and understood that it would be trading bitcoin. So they bought like crazy, expecting the price to go to the moon when the fund would start buying. But the rumor was not confirmed, and people are now doubting it So the traders are all selling like crazy, to cut their losses while they can.

But perhaps there will be another good rumor tomorrow, who knows.

What do you think about the BIT purchases 7.8k a couple of days ago, and recently 6k (btc).

inca

legendary

Activity: 1176

Merit: 1000

Next few hours will determine whether a bear trap or not

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: rebuilder on November 13, 2014, 02:24:22 PM

Quote from: JorgeStolfi on November 13, 2014, 02:19:44 PM

My guess: many traders heard "three billion hedge fund will be trading on OKkoins platform" and understood that it would be trading bitcoin. So they bought like crazy, expecting the price to go to the moon when the fund would start buying. But the rumor was not confirmed, and people are now doubting it So the traders are all selling like crazy, to cut their losses while they can.

What leads you to this conclusion?

It is not a "conclusion", only the best explanation I can think of at the moment. Clues:
* The timing of the rally is consistent with traders gradually becoming aware of the "hedge fund" rumor.
* Comments here and elsewhere show that many traders thought that the fund would push price to the moon.
* OKcoin led the rally, at one time 100 CNY above Huobi, with the West behind both.
* There was obvious feedback: traders buying simply because the price was going up, "this is the next bubble!".
* The rumor was not confirmed, and recent comments on reddit show skepticism.

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

Quote from: JorgeStolfi on November 13, 2014, 02:19:44 PM

Quote from: porcupine87 on November 13, 2014, 02:06:04 PM

Didn't watch the price the last 3days. What's going on? Huh

My guess: many traders heard "three billion hedge fund will be trading on OKkoins platform" and understood that it would be trading bitcoin. So they bought like crazy, expecting the price to go to the moon when the fund would start buying. But the rumor was not confirmed, and people are now doubting it So the traders are all selling like crazy, to cut their losses while they can.

But perhaps there will be another good rumor tomorrow, who knows.

funny i heard a rumor as well but a totally different one about another type of fund

lots of rumors these days

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24559. (Read 26712988 times)