Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26425. (Read 26610682 times)

Explanation

Dangerously close to break the 560's we are right now. Think bet on a rebound right now is really a dangerous bet. In the 550's the smallest bad move can start a cascate crash movement, it is like walking over a lake with frozen waters.

The speculation is about a squeeze. People who want to buy cheap are selling now to trigger automatic selling by stop loss orders which could run into a chain reaction resulting in really cheap coins. The current dip could be the result of a successful small attempt at this or could be motions to achieve this with a much lower goal but it would basically be run by people who would fill their positions after their financial attack succeeded or not. It's basically like real cash poker where you don't know how deep the pockets of your adversary are, so some try to bluff big time (drive the price down) and if they fail, they will have a hard time buying back in. If they win, they make a killing out of it. If you are not into that sort of games, stay out of it and wait until next week.

Explanation

So if bitfinex forces them to sell, what this means that if the price hits $540 we will then have a crash? How much volume of BTC would be force-sold at this level? Thanks for the help understanding this guys

Too bad most of the longs were opened well under 650. Just check bfxdata.

Also, BFX supposedly put in measures to prevent the cascading effect on margin calls. So if some silly bear tries it, he will end up on his ass.

If the price falls below $540, those that borrowed at $650 do not have enough collateral to sustain their positions.  Bitfinex will force them to sell.

As for $550 that's a technical point in the charts that we've bounced off a few times.  To break that support means longs are throwing in the towel.

Explanation

economical crisis? it's all about the positive.. http://www.zerohedge.com/news/2014-08-12/deflation-hits-oldest-profession-world-hookers-numbers ^^

Can someone explain this sentence to the non-finance literate?

"Conclusion if we break below $550 I expect the market to get VERY fast with cascading margin calls on bfx. Admittedly we might need some FUD to get there but those price levels are at least in sight "

interesting post, i'm hoping we test 540 to see if these figures are accurate.

Explanation

I prefer beer after beer.

Good music helps though:

https://www.youtube.com/watch?v=dZANKFxrcKU

 

By "fake" and "unreliable" I do not mean intentionally falsified (although that is a definite possibility, since almost everyone in the "bitcoin industry" would have a strong motivation to do that).

Take for example the plot of total estimated daily USD transaction volume by blockchain.info.  (That plot is obtained from the total estimated daily BTC transaction volume times the market price.  The "estimated" in the name refers to the exclusion of any transaction outputs that are assumed to be return change; I do not know how they do that.)

Note that the USD volume during Jan/10--31 was ~75 M$/day; in Mar/25--Apr/20 and Jul/10--Aug/05 it was ~50 M$/day.  So the USD volume dropped 30% from January to now, and did not increase from April to now (although there were some peaks in between).

That does not fit with "increasing adoption".   The only way to avoid that conclusion is to assume that most of that blockchain  volume is not actual payments (bitcoins changing hands) but "fake volume" (bitcoin moving between addresses that belong to the same person); so that the presumed increase in actual paymets is masked by the "fake" volume.   Indeed, this hypothesis is consistent with the claim by Bitpay that they processed 100 M$ payments for the entire year of 2013, with is only a couple of days' worth of the USD volume shown by blockchain.info.   

But if most of the transactions in the blockchain are "fake", the other blockchain statistics are equally meaningless...

Would you have a link for this data?

As I wrote before, these "adoptions" are unlikely to attract many new users to bitcoin.  They are attractive only to people who already have some amount of bitcoins and have decided to spend some of them.  New users who try paying for something in bitcoin, out of curiosity or hoping to save money, may be disappointed rather than "converted". 

fucking bear after bear

many people say this, but if the market were as easy as "sell in summer" and "buy in winter" then we'd all be rich. oh, wait, no we wouldn't -- because we'd all have the same exact plan...... and it wouldn't work.

Explanation

Jeez, do these people take the whole summer off or something? Tell them to cut it short and get back to the office.

Cryptos are on sales. At the end of holydays there´s going to be an avalanche of smart'n fresh fiat from all the people that is listening about cryptos this summer for first time.

I don´t know you, but I have talked and convinced to more people in this last 2 weeks than the rest of the year. They are finishing his mohitos this days, and will take shy positions first, then... let there be entropy

You've just gotta love times like this.

The silly little bears are having a real picnic.



"At 6 o'clock their mommies and daddies will send them straight to bed,
because they're foolish little teddy bears."