Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27034. (Read 26706971 times)
June 25, 2014, 08:28:33 AM
Bear troll and bull troll trolling each other. Perfect
June 25, 2014, 08:27:01 AM
The bear trap is worse than I expected. Feel sorry for everyone selling right now
It is good for sellers, so long as they get back in before the market reverses and continues on its likely upward trajectory, which could happen at any time.
Well, I'm holding, but want to buy some more so I've just sent some more money to the exchange.... so you can just about guarantee a recovery very soon (before my account gets credited, as usual)
June 25, 2014, 08:26:47 AM
The bear trap is worse than I expected. Feel sorry for everyone selling right now
Currently, at the moment, as I type, it is good for sellers b/c BTC prices are going down.. and it is good for these sellers, so long as they get back in before the market reverses and continues on its likely upward trajectory, which could happen at any time.
As well as it could crash to 80$ ANY TIME
June 25, 2014, 08:24:42 AM
The bear trap is worse than I expected. Feel sorry for everyone selling right now
Currently, at the moment, as I type, it is good for sellers b/c BTC prices are going down.. and it is good for these sellers, so long as they get back in before the market reverses and continues on its likely upward trajectory, which could happen at any time.
As well as it could crash to 80$ ANY TIME
June 25, 2014, 08:21:45 AM
The bear trap is worse than I expected. Feel sorry for everyone selling right now
Currently, at the moment, as I type, it is good for sellers b/c BTC prices are going down.. and it is good for these sellers, so long as they get back in before the market reverses and continues on its likely upward trajectory, which could happen at any time.
June 25, 2014, 08:18:07 AM
what is happening now is a rally between holders to sell without causing any panic, the book order is really thin with few thousands BTC at the Bid side while there is more than 12 million coins out there, do the math.
11 million as Satoshi is in for the long haul.
Auction is only two days away, so it is quite feasible that coins are being dumped to depress the market "reference" price ahead of bidding.
depressing? is that the right word?
if you are not willing to pay the market price and dumping coins on the market to bid lower...well, then the current market price is not right.
let us see then how much are they willing to pay.
I say 500.
I say its the most stupid forecast and explanation I ever heard.
well, it is even more stupid to think that someone is dumping coins to depress the "reference" price.
What is stupid about dumping coins to depress the reference point? There is nothing stupid about that.
you can manipulate the "reference" price, but how do you manipulate sealed bids?
what happens if you win the auction with 400 $ bid, or if there is not enough interest to buy the coins at all?
By making the assumption that the sealed bids have a relationship with the market price.
HELLO..... Of course sealed bids are gonna relate to the market price, and they will relate to the market price that day 6/26 (tomorrow) NOT the market price today and NOT the market price 3 years ago, yet the bids will also relate to what price bidders expect bitcoins to become 3 months to 6 months to 1 year into the future. Bidders are going to have their individualized assessments concerning how much to bid, and the price on 6/26 will be relevant to that assessment.
I am NOT any kind of sophisticated investor, so I do NOT know exactly what they are thinking, but if I had enough money to buy all of the coins, I would make 10 staggered bids and those staggered bids would be based on BTC market price at the time of my bid, towards the end of the auction time, and they would be staggered in approximately 5.5% increments between about 80% of market price and 135% of market price. At about the end of the auction, if I was NOT restricted from doing such, I would have a press release announcing what strategy I employed, and if I did NOT win any of the bids, then I would expect that there would be 10 bids that were higher than my highest bid.
June 25, 2014, 08:00:48 AM
June 25, 2014, 07:51:29 AM
Do you want to know why we bounced at $340 on Apr 13, why we bounced at $420 on May 5, and thus why this 'trendline' has held thus far? Both bounce events occured immediately when either China or the Chinese exchanges released some counter-FUD article leading us to believe some major change had occured in China and everything was going to be ok there.
I've been told countless of times that news are secondary to the market movements, or does it only apply to the dumps?
June 25, 2014, 07:40:46 AM
My point is that the Chinese probably have about 10x more influence over Bitcoin than this auction as they still trump the entire 'west' in volume on EACH of their exchanges.
How real is volume that is generated by 0% fees? We have to account for that.Personally, I've only observed Bitstamp leading and Huobi following it reluctantly. I don't know why some perceive the opposite.
I don't like the idea of thinking of it as "fake" volume, but I do believe it needs to be heavily "discounted" for purposes of volume analysis.
Based on some (admittedly rather crude, please don't ask) method I employ, today's calculation for example would look as follows:
4400 (stamp) + 3000 (btce) + 5400 (finex) = ~13k "Western USD volume"
43000/10 (ok) + 29000/5 (huo) + 3000 (btcchn) = ~13k "Chinese volume"
i.e. today I discount OKCoin volume by a factor of 10, and Huobi by factor 5. It's coincidence that today they add up to roughly the same value, btw.
Note that I don't buy the claim by finex that they really cut *all* ties with stamp, so some of the finex volume is likely to be a duplicate of stamp volume, so total western USD volume is possibly too high. On the other hand, it doesn't include EUR (and other currencies) volume yet.
In summary, on a day like today I consider, at least by volume, the "Chinese" influence about as big as the "Western" influence.
June 25, 2014, 07:39:07 AM
How real is volume that is generated by 0% fees? We have to account for that.
The 0% fees surely are the main reason for the higher volume, but that does not make the volume "fake". Fake volume is transactions where both parties are the same entity. If the two parties are distinct competing entities, it is not fake.While I have no proof that Huobi's volume is legit, if it is fake it is very well done. OKCoin's has a ~10% component that looks fake.
Personally, I've only observed Bitstamp leading and Huobi following it reluctantly. I don't know why some perceive the opposite.
Funny, I have seen quite the opposite in general, although there are possible exceptions (the March/13 jump being one). OkCoin and Huobi change fast, have a very small spread, and track each other very closely, within a dollar or less; while Bitstamp changes slowly, in coarser jumps, and has a very wide spread. June 25, 2014, 07:36:07 AM
Do you want to know why we bounced at $340 on Apr 13, why we bounced at $420 on May 5, and thus why this 'trendline' has held thus far? Both bounce events occured immediately when either China or the Chinese exchanges released some counter-FUD article leading us to believe some major change had occured in China and everything was going to be ok there.
I've been told countless of times that news are secondary to the market movements, or does it only apply to the dumps?
June 25, 2014, 07:27:36 AM
Do you want to know why we bounced at $340 on Apr 13, why we bounced at $420 on May 5, and thus why this 'trendline' has held thus far? Both bounce events occured immediately when either China or the Chinese exchanges released some counter-FUD article leading us to believe some major change had occured in China and everything was going to be ok there.
I've been told countless of times that news are secondary to the market movements, or does it only apply to the dumps?
June 25, 2014, 07:27:30 AM
nem and nxt havnt budged! lol perhaps not all of the crypto community is pathetic
and VRC went up 300% in the last 3 days...although correcting this morning to just a 200% gain.
and was there any cause for this? many coins have gone through pumps like that and faded away again.
nem is 22/23 place on market cap. with out even having released any software what so ever.! its also valued a 1/4 of the real value as its down as only having 1000 stakes when 4000 stakes are priced into the market.
June 25, 2014, 07:26:50 AM
chinese reluctant to sell.
too much new generation hardware waiting to be sold.
give them time.
too much new generation hardware waiting to be sold.
give them time.
June 25, 2014, 07:26:12 AM
Tripple'ish bottom maybe?
Bouncy
(oh and the asses too)
June 25, 2014, 07:24:59 AM
Do you want to know why we bounced at $340 on Apr 13, why we bounced at $420 on May 5, and thus why this 'trendline' has held thus far? Both bounce events occured immediately when either China or the Chinese exchanges released some counter-FUD article leading us to believe some major change had occured in China and everything was going to be ok there.
June 25, 2014, 07:22:21 AM
Tripple'ish bottom maybe?
June 25, 2014, 07:19:06 AM
OK let me rephrase this: The largest populated country in the world with 20% of the entire world's population, the largest financial shadow currency trading enterprise in the world, and half of the world's bitcoin exchanges being potentially taken out of the game completely by their government is much more important than 0.22% of bitcoins being sold at an auction.
I won't disagree. Thing is, we have already known for quite a while now that "4th party" funding channels for exchanges were going to be taken out. Or is there anything new?
June 25, 2014, 07:16:38 AM
OK let me rephrase this: The largest populated country in the world with 20% of the entire world's population, the largest financial shadow currency trading enterprise in the world, and half of the world's bitcoin exchanges being potentially taken out of the game completely by their government is much more important than 0.22% of bitcoins being sold at an auction.
I won't disagree. Thing is, we have already known for quite a while now that "4th party" funding channels for exchanges were going to be taken out. Or is there anything new? June 25, 2014, 07:16:20 AM
nem and nxt havnt budged! lol perhaps not all of the crypto community is pathetic
and VRC went up 300% in the last 3 days...although correcting this morning to just a 200% gain.
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