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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27207. (Read 26709845 times)

N12
donator
Activity: 1610
Merit: 1010
Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.

Can't it be that Bitfinex is simply getting bigger and more popular? Like Bitstamp's orderbook was getting bigger pretty fast in the wake of Gox stumbling and failing? I remember that in the past Bitfinex was always out of USD to borrow, which prevented the loans to reach new ATHs then. Maybe they're growing out of that phase now as people are getting fed up of Stamp and don't trust BTC-e.
Of course they are getting bigger and more popular, but at whose expense? As far as I see, Finex is likely supplanting Bitstamp more than BTC-e, and Bitstamp has never offered leverage. That's why I think this divergence is a potential ticking time bomb, it's converting a larger part of the market into flash crash prone margin traders with no real depth to back it up, same as happened with Bitcoinica as it grew.
hero member
Activity: 703
Merit: 502
This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.

If you think big wall street players are not familiar with irrational children you have never met the average hedge fund manager
legendary
Activity: 1246
Merit: 1000
Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.

Can't it be that Bitfinex is simply getting bigger and more popular? Like Bitstamp's orderbook was getting bigger pretty fast in the wake of Gox stumbling and failing? I remember that in the past Bitfinex was always out of USD to borrow, which prevented the loans to reach new ATHs then. Maybe they're growing out of that phase now as people are getting fed up of Stamp and don't trust BTC-e.
hero member
Activity: 728
Merit: 500
This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.
hero member
Activity: 882
Merit: 1003
Conspiracy theorists will say insiders knew of the Expedia news and bought 1-2 weeks early. Then sold off near the peak.
hero member
Activity: 672
Merit: 500

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future Cheesy

Buy   June 12, 2014, 10:29 p.m.   81.36496462 BTC   -$44,803.62   $550.65    $89.61

Quoted for shroomy  Grin

Yes, you were right. I have no problem admitting you got very lucky with that "bad" news which resulted in an idiotic panic sell. The thing is non of you doom predictors could've seen this coming.
All your usual lines and charts and tarots failed. As most of the time.
We went down because of some news and nothing else. So don't be too proud of yourself. Consider yourself lucky with your cheap coins. I'm happy for you you got them. There was a bigger chance you wouldn't.

News is just a convincing excuse to sell. It did not rally on the Expedia "good" news but it dipped on a bad news. A correction was highly due, the news just precipitated it abruptly.

I understand why you want to believe that and that's fine with me. I would probably do the same in your situation.
hero member
Activity: 672
Merit: 500
I quickly browsed through the last 24 hours.
My god, the bear trolls are in full force again. These people are some of the worst i've seen on forums. And i've read some pretty bad ones. It's hard for me to believe these maniacs have a normal healthy live outside the internet. How do people get that way?
legendary
Activity: 1428
Merit: 1000

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future Cheesy

Buy   June 12, 2014, 10:29 p.m.   81.36496462 BTC   -$44,803.62   $550.65    $89.61

Quoted for shroomy  Grin

Yes, you were right. I have no problem admitting you got very lucky with that "bad" news which resulted in an idiotic panic sell. The thing is non of you doom predictors could've seen this coming.
All your usual lines and charts and tarots failed. As most of the time.
We went down because of some news and nothing else. So don't be too proud of yourself. Consider yourself lucky with your cheap coins. I'm happy for you you got them. There was a bigger chance you wouldn't.

News is just a convincing excuse to sell. It did not rally on the Expedia "good" news but it dipped on a bad news. A correction was highly due, the news just precipitated it abruptly.
hero member
Activity: 672
Merit: 500

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future Cheesy

Buy   June 12, 2014, 10:29 p.m.   81.36496462 BTC   -$44,803.62   $550.65    $89.61

Quoted for shroomy  Grin

Yes, you were right. I have no problem admitting you got very lucky with that "bad" news which resulted in an idiotic panic sell. The thing is non of you doom predictors could've seen this coming.
All your usual lines and charts and tarots failed. As most of the time.
We went down because of some news and nothing else. So don't be too proud of yourself. Consider yourself lucky with your cheap coins. I'm happy for you you got them. There was a bigger chance you wouldn't.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1428
Merit: 1000

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future Cheesy

Buy   June 12, 2014, 10:29 p.m.   81.36496462 BTC   -$44,803.62   $550.65    $89.61

Quoted for shroomy  Grin
sr. member
Activity: 325
Merit: 250
upcoming auction is an obviously case for the wincelvoss twins imo
N12
donator
Activity: 1610
Merit: 1010
Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.
legendary
Activity: 1428
Merit: 1000

Its surprising the amount of USD longs on Finex is still high and it hardly reduced at all despite a farily significant drop over the last few days.




Old ones closed, new ones opened. Finex traders are bullish but looking at the total swaps v/s now slimmer bid depth, another dip can spell disaster!
hero member
Activity: 564
Merit: 508
meh ... shotring again @620$ on Finex.

Looks like U.S.D. swaps barely ever fell at all and now they are at a new all-time-high...



Sure, but existing swaps did allow the correction to sub 600$.
Now volume and 1h graph do not look good to me.

By the way, it's daytrading!
hero member
Activity: 707
Merit: 500
I will change some of my btcs into ltcs to buy mooncoin, look at this buy support on cryptsy https://www.cryptsy.com/markets/view/145

D'yaknow.. you can add an 'r' in mooncoin to make moroncoin... true story!
hero member
Activity: 798
Merit: 1000
Cool story bro.
I will change some of my btcs into ltcs to buy mooncoin, look at this buy support on cryptsy https://www.cryptsy.com/markets/view/145

Its surprising the amount of USD longs on Finex is still high and it hardly reduced at all despite a farily significant drop over the last few days.


hero member
Activity: 728
Merit: 500
meh ... shotring again @620$ on Finex.

Looks like U.S.D. swaps barely ever fell at all and now they are at a new all-time-high...

hero member
Activity: 564
Merit: 508
meh ... shotring again @620$ on Finex.
legendary
Activity: 1045
Merit: 1000
I will change some of my btcs into ltcs to buy mooncoin, look at this buy support on cryptsy https://www.cryptsy.com/markets/view/145
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