Nobody talking Bitcoin means we are moving steadily towards capitulation. Maybe MasterLuc's prophecy is not a bad call. Be patient if you believe in this technology. Scream if you are just a speculator. Troll if you are a troll.
For me, it cannot become silent enough for Bitcoin. Eventually, the tide will change.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26014. (Read 26609181 times)
September 02, 2014, 04:38:32 AM
September 02, 2014, 04:34:39 AM
This. If nothing else there is truly a problem for the brand when exchanges malfunction, when markets are manipulated by margin hunters, and when the price is more or less set by a Junta of pot heavy insiders. The new money is, almost by definition, not of the hodler/true believer mentality. They can be converted, but it takes a while... again, they are new. So, if they lose a bit here and there while learning that is great. If they get whipsawed to death by market activity that is unexplained by TA or news... you lose them. We are skirting near the territory where you are facing the potential of a long-term setback for adoption and support.
I think we are losing adoption NOW. User numbers don't seem to be rising at all, and the main complaint is losing money on their investment. I literally know no one else who owns coins anymore. This manufactured drop from $600 is killing the tech. (Tes, exchange rates matter, trolls.)
Note that game theory says the price will trend to zero. As long as there are hundreds of people with enough coins to play the dump game, one of them will continue doing it to make their extra 20 or 30 coins per day. If you gave me 3k btc today, I could guarantee I would have 6k in 90 days. The game is too easy.
Those posters who say that the only people who care about the price (exchange rate) are get rich quick dreamers are deluded. If I could buy a laptop with 2 bitcoins 3 months ago, but now need to use 3 btc, there is a serious problem. And as long as 99.9% of goods require USD to purchase, the exchange rate is important.
I left out one point before: look at how much concentrated effort it took to break through support at 500. Thousands and thousands and thousands of coins dumped to break support and make the dump game possible again. How many of the big guys had to help to break through? I sincerely thought it was impossible to reach 490...forgetting that there are single individuals with 50k coins who could wipe out the entire order book.
Now, explain to me how it is possible to have another bubble. It will be a race to see who can dump fastest and hardest to make the biggest percentage gain on a thin order book. IIRC, to cut the price 40% in November only took a 1k dump; stops triggered, margins called, panic selling, huge profit with no risk. They won't be able to control themselves when the opportunity arises next time .
I will say this with all honesty: I no longer believe btc has any chance of being a serious currency due to its users. I have always been a short term agnostic and long term bull. I am full bear now. I doubt that we will ever see 700 again, and 300's will be here soon. The big guys are warning everyone everyday that they want lower prices. Believe them.
The whole of this comment is so stupid that it is NOT worth responding to in a detailed manner, and really the comment reeks of someone who is talking his/her book. If you do NOT believe in bitcoin anymore, then why don't you just sell all of it, and just walk away with whatever fiat you have remaining. GOOD BYE. Instead, no you are likely going to continue to stay here and talk your bullshit until such point that you will say that you bought back in.... possibly with more coins.. but if you get left by the choo choo, that would be even better carma to reward you for your apparently deceitful presentation.
Regarding the bold session above, good luck doubling your coins every 90 days or guaranteeing such. I am pretty sure that you would NOT put your money where your mouth is b/c if you were to make such a bet that you can double your BTC stash in 90 days, the odds are pretty great that you would lose such a bet.
September 02, 2014, 04:33:45 AM
I know that depth is almost meaningless, but... there are 17k BTC of bids down to 400$ @bitfinex
There were 11k from 510 to 480 IIRC. Absolutely massive support, 2-2.5k btc to move the price $5 in places. I wish I had a screenshot.
That is why it took 3 or 4 dumps and all those ask walls to break it. 516 to 490 in a couple of hours.
September 02, 2014, 04:33:25 AM
I know that depth is almost meaningless, but... there are 17k BTC of bids down to 400$ @bitfinex
they will move down if we get close...that's the problem...no one wants to buy because we could be at 420 soon...that's 50$....but at 430 they will think...hey...350$ maybe...until btc are worthless
September 02, 2014, 04:24:45 AM
I know that depth is almost meaningless, but... there are 17k BTC of bids down to 400$ @bitfinex
September 02, 2014, 04:20:20 AM
I want 420 and I'm going to keep on raging about it till we get there
Either that or a new All time High of course.
Oh and got my newegg stuff want a promo at 1K a Coin
I remain curious about the apparent internal contradictory nature of traders pushing and begging for lower prices while considering that to somehow be a good thing for bitcoin b/c it seems to be good for themselves to buy a few more coins or maybe to make their shorts more highly profitable.
Maybe if I had shorted, I would be better able to relate to this kind of thinking? My last buy point was $479, and probably my next buy point will be around the low $460s, if we get there. Even in a supposed recent bear market, I do NOT possess sufficient confidence to short - especially after so much of a downturn and my assessment that BTC prices are quite below where I consider the trendline currently to be...
Currently, I am thinking that the trendline may have shifted down recently b/c of a lot of this downward manipulation of BTC prices.. Accordingly, a month ago, the trendline probably was in the $850 to $950 arena - however, now, after the downward manipulation of BTC prices, I am thinking that currently the trendline may have shifted downward to be in the $700 to $800 arena.... so downward shifting of the trendline in my thinking is a form of potentially irreversible damage to bitcoin. Maybe I am wrong about this, but this is my current thinking.
September 02, 2014, 04:17:28 AM
1 BTC = 100,000 $ when
September 02, 2014, 04:10:58 AM
ummm
BFX is this for real??
BFX is this for real??
Well I went 30% in at $474 and 90% in at $471... So I believe it is real
Cultists are p*ssed off!
September 02, 2014, 04:10:49 AM
This market is completely fucked. Right now we are simply watching it getting it destroyed. Bitcoin is becoming worthless.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
Funny you say that actually, I was sat here yesterday thinking "strange how no one has asked me about bitcoin for a while...". Early this year, friends and family were constantly talking about it, asking me how it's going, asking when they should buy some and how (none of them actually did in the end). Now it seems like it was a passing fad for everyone, something to chat about when it was in the news, now it's been months since anyone has asked me about bitcoin. I'm still very bullish long-term, but short to mid-term... ! I 100% agree with you, this market is at the mercy of mega dumpers, and could be for a long time.
September 02, 2014, 04:10:11 AM
maybe it was GABI...
would be nice to see a little rise and a little bullishness again
would be nice to see a little rise and a little bullishness again
Ah Gabi. The magic club of millionaires who will buy tons of bitcoins starting september one. Right.
Right.
Let us not forget Gox's magical origins -- perhaps the "magic circle" will get involved or David Copperfield will magic up a 50K bid wall.
I'm sacrificing a virgin goat next full moon, just to be sure.
September 02, 2014, 04:05:21 AM
All this has happened before and will happen again....
Yep....keep chanting...it's holding us afloat at the moment.
September 02, 2014, 04:03:11 AM
maybe it was GABI...
would be nice to see a little rise and a little bullishness again
would be nice to see a little rise and a little bullishness again
Ah Gabi. The magical club of millionaires who will buy tons of bitcoins starting september one. Right.
September 02, 2014, 04:02:59 AM
i guess someone bought his own asks just to keep us involved
lol, you think someone is that fool and give free commission.
There was big order and it was eaten by others.
well then there were no fake walls and people with ~ 2000btc just got out
I think 500 btc might have been pulled. 3 orders were static, one order of 500 or 600 coins was being flashed at different prices every few minutes. I did not see it get bought.
Remember, there were at least 3 attempts to break 500 before it succeeded, and then we fell to 470. He sold coins expecting to buy them back at 430. 40USD drop...that will be roughly an 8% increase in coins in 24-48 hours if the pattern holds.
September 02, 2014, 03:59:18 AM
September 02, 2014, 03:59:13 AM
maybe it was GABI...
would be nice to see a little rise and a little bullishness again
would be nice to see a little rise and a little bullishness again
September 02, 2014, 03:58:54 AM
This market is completely fucked. Right now we are simply watching it getting it destroyed. Bitcoin is becoming worthless.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
Nobody around me talks about it anymore let alone considers investing in it.
What sane person would put money in a market where he is guaranteed to get dumped on the next day?
The dumpers are destroying the market. It's that simple.
They will keep doing it till we can't go lower anymore. Only then are they happy and will move on.
September 02, 2014, 03:55:48 AM
ummm
BFX is this for real??
BFX is this for real??
September 02, 2014, 03:53:45 AM
i guess someone bought his own asks just to keep us involved
lol, you think someone is that fool and give free commission.
There was big order and it was eaten by others.
well then there were no fake walls and people with ~ 2000btc just got out
September 02, 2014, 03:53:19 AM
Some nice manipulation walls on Bitfinex. They'll disappear in an instant if the rest of the market moves up. But for now, the trend continues down. This is a bit painful to watch tbh.
According to our mod Blitz there is no manipulation.
September 02, 2014, 03:52:27 AM
i guess someone bought his own asks just to keep us involved
lol, you think someone is that fool and give free commission.
There was big order and it was eaten by others.
well then there were no fake walls and people with ~ 2000btc just got out
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