Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27079. (Read 26710206 times)
June 23, 2014, 06:00:51 AM
June 23, 2014, 05:55:31 AM
Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs?
What about them?
And why do you think they would cause a downward pressure? Shouldn't it attract speculators as well?
China is so strange right now. Fiat transfers are supposed to be banned several times over now, so how would they even get yuan out of them if not via foreign accounts?
EDIT: (to clarify) ... Which should drive Stamp lower than Huobi, not the other way around which is what we've seen during last week.
June 23, 2014, 05:55:26 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
There's nothing that caused it, China pumps a little and China dumps a little. It's just going $20 up and down and has happened a few times already in the past week, just the regular whales and sharks trying to make some money during this consolidation period. Only a couple more days of this crap before we will see some real movement.
I understand what you mean but i still don't see this as a normal event. Anyway, i hope you are right about the 2nd part. Considering how important everyone thinks this auction is i expect to see some big movements. Up i hope but then again any news means down it seems lately.
June 23, 2014, 05:52:15 AM
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
If that were true, several k dumped on Stamp and several times more on Huobi during the last week, we should have gone much lower. The order books are very shallow everywhere so there is simply no resistance neither up nor down.
I think it's just some regular trading going on, slowly dumping at the upper limits or the (percieved) market and buying at the bottom. If I had a few k at the exchanges I would do that too. It's just slower than usual since the market can't absorb just about anything at all right now.
June 23, 2014, 05:51:42 AM
The market is just really thinly traded right now. I's een continuously bounding up and down a little close to 600. Perhaps Friday is the catalyst to start moving from that range.
June 23, 2014, 05:38:53 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
There's nothing that caused it, China pumps a little and China dumps a little. It's just going $20 up and down and has happened a few times already in the past week, just the regular whales and sharks trying to make some money during this consolidation period. Only a couple more days of this crap before we will see some real movement.
June 23, 2014, 05:33:35 AM
https://www.jpmorgan.com/ https://Ghash.io - Join us - High reward - Lots of fun
"To have failed in everything, always, out of a love of discouragement." aka Bitcoin 2014 - Emil Cioran
"To have failed in everything, always, out of a love of discouragement." aka Bitcoin 2014 - Emil Cioran
So, what project are you managing at JP Morgan? New JP Morgan coin? The conflict of interest here is amusing.
June 23, 2014, 05:32:18 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.
I stopped watching china long ago, I still believe that (some Chinese) beside faking their products they do fake their trading volume as well... I believe they can fake anything for some dollars.
So It wasn't China because you stopped paying attention to them. Err...ok.
June 23, 2014, 05:23:30 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.
I stopped watching china long ago, I still believe that (some Chinese) beside faking their products they do fake their trading volume as well... I believe they can fake anything for some dollars.
June 23, 2014, 05:18:06 AM
Another possible explanation for this drop is that the late-May rally was due to some Chinese traders getting wind of great news soon to come from OKCoin, and those news finally came out this Saturday (see their note posted earlier), and those people found them disappointing.
One possible argument for this theory is that the rally was in the form of a few isolated buying spurts (each individual learning about impending great news?) and this drop seems to be driven by a few isolated selling spurts (each of them realizing that it was a flop?).
One possible argument for this theory is that the rally was in the form of a few isolated buying spurts (each individual learning about impending great news?) and this drop seems to be driven by a few isolated selling spurts (each of them realizing that it was a flop?).
June 23, 2014, 05:15:34 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.
June 23, 2014, 05:13:17 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
Yeah sure, as if you would not have already already been ignored by shroomsy after your bearish coming out of the closet in the last 2 weeks.
Maybe Adam can try and talk to shroomsy, maybe he is the last remaining open channel? ( No offense Adam
) June 23, 2014, 05:10:26 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.
June 23, 2014, 05:10:02 AM
And more dumping. What the hell! Still no idea why.
Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs? Skanth...NOT that I want to help out any trolls; yet I would tell the bird dog, but he is ignoring me, too... At least he announced that he was ignoring me, about 3 months ago. hehehe... and I have been saddened, ever since.
June 23, 2014, 05:06:17 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
How is life in a dark cave treatin you ShroomsKit?
And more dumping. What the hell! Still no idea why.
Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs? Skanth... June 23, 2014, 05:04:37 AM
Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.
It's taken us down 20 dollars now.
June 23, 2014, 05:01:45 AM
Go go go stamp! 
June 23, 2014, 05:00:48 AM
June 23, 2014, 04:58:52 AM
I know nobody likes to hear this, but looking at the daily and 3 day MACDs slowly moving into a position that counters each other, I can see us in an uneasy balance between 500 and 700 for another month, maybe two :/
I agree, some known Bitcoiners are investing in other projects (Bitcoin unrelated), I was also discussing the price with a friend of mine and he said he doesn't think that a new rally will be that easy or that quick after the MT.gox fiasco... and he also said that people doesn't ever realize how MTgox will effect the future of Bitcoin regarding regulation and adoption.
We see the same thing, but draw very different conclusions then.
This is the first time in a long while that I recommend friends that asked me about it to buy in, if they had any intention to do so. In previous periods, I always considered the downside risk simply too great to make that recommendation in good conscience. Now, I'm telling them that they shouldn't expect huge rallies immediately, but I also consider the risk to the downside comparably controlled.
I used to tell people to invest at any price if they are thinking about a long term investment (couple of years) but at this point I am losing faith, and the last time a friend asked me about investing I told him that I don't know and he has to study the whole market himself, I don't want to see friends thinking how disappointing this investment was because of me.
Obviously, the "do your own research" and "all risks are your own" rule applies always. But this is a case that plays out similarly for many of us, I presume: someone who's not yet into Bitcoin asks someone who's balls deep into it for advice.
And I'm a lot more comfortable with them being slightly unsatisfied because their investment didn't take off immediately, than if they followed my recommendation and would sit on a substantially underwater position for half a year.
And, like I said, I see a lot less potential for the latter to happen than at any other point in 2014.
June 23, 2014, 04:57:16 AM
I know nobody likes to hear this, but looking at the daily and 3 day MACDs slowly moving into a position that counters each other, I can see us in an uneasy balance between 500 and 700 for another month, maybe two :/
I think this is a real possibility. We aren't likely going below $500 for more than a day (couple of hours) worst case scenario and we may not go above 700 until we get guidance from NY. Thats suppose to come this week, but could be longer as most legal matters and rulings don't happen on schedule.
Maybe flat long enough for me to get my tax return money to pump into BTC? hehehehe... I'm still working on my 2013 taxes... so I have NOT even filed yet.
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