Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27590. (Read 26712378 times)

or 3,5 maybe 4. 

0.09

Explanation

 ..But that was ONE possible outcome. It didn't have to happen this way. The opposite of further alienation & repression could always occur. And the exchange owners knew precisely how. We didn't think of this because we aren't familiar w/ this very distinct cultural asian mindset. All they had to do, was to appease the PBoC, who, like all oppressive state agencies, are absolutely starved for public recognition/support. You don't bribe them with money ; the majority of them, even as individuals, aren't susceptible to it. You give them raw political & cultural power, through making them look legitimate, validating their regime & decisions as 'wise and for the good of the people'.

 And that's exactly what that group of 5 exchange owners focused on feverishly, mostly behind the scenes, for weeks on end. While negotiating w/ the central bank & related agencies, pleading with them that they understood & approved of their decisions, and were desperate to do anything needed to find a way to work with them, make their operations acceptable in the officials' eyes ; They released the famous statement that they would not show up at Beijing 2014, and would close down all leveraged trading shortly.

 ..And it all turned out a massive success. As the the current price explosion has shown since May 19th, the results of these appeasement efforts dangled before the PBoC's eyes an irresistible opportunity to gain massive popular support (among tech geeks & finance types at least ;p), by virtually doing a 180" on their earlier policies - establish a state-endorsed, 'special banking unit' that would oversee & regulate cryptocurrencies there using Chinese Offshore Yuan for trading, w/ the exchanges eventually to move offshore in officially supported fashion.

 This raised the prices precisely back to the 500's level we had been at -before- PBoC released their stern warnings about reg. evasion.. Around which, the overall longer-term momentum from the run-up since $340 kept the enthusiasm bullish enough to buoy things way out of the 500's-540's range, up to where we are at today ; With likely more to come still, because, this is Chinese officials being in tacit crypto SUPPORT instead of opposition.. It changes -everything- quite like how apprehensive people were, during all of 2012-2013 & especially in the wake of the SR crash, about the US Gov just pulling a LibertyReserve on bitcoin & shutting down / criminalizing everything they can, ..until the infamous Monday, Nov. 18 Congress report that truly put the bull in the chinese' pants as all those fears of US antagonism got suddenly relieved.

 So do you understand now..?

 THAT.  is.  why.  all.  this. happened.. !!

Further zooming out you will see this pattern has happened 3 times in a row

 This is why.

 Think about it.

 On Apr. 24th, after some very acute sleazy frontrunning manipulation that fooled me & many others big time, news broke out that the PBoC would -not- tolerate any more of these evasive tactics & rules loopholes the chinese exchanges had taken advantage of to keep their operations going pretty much as they had been since last year.

 In classic asian state doctrinarian fashion they sternly admonished everyone involved, warning that they definitely had to stop any & all deposit -&- withdrawal methods using renminbi, whether with 'deposit voucher' systems, ATM's, banks or payment processors.

 This dropped the price rather fast from 500's to a range of 420-465 that would last weeks, reminiscent of the 8-10 day early Apr. period. During this time the Western (mostly) good news kept pouring in steadily as always yet instead of propping the price up, this instead merely kept the morass of doom sentiment pervading China from crashing us all the way back to 400 & beyond. A couple further banks closed more accounts w/ chinese exchanges, while the Beijing 2014 Expo got censored by the PBoC.

 Because of all this I posted some pics back then about Huobi/OKC guys getting arrested. That's why I & many others thought things would get worse. I mean, if you researched their profiles, they seemed to be so 'maverick' and rebellious-minded, those founders. Ready to handle things as to end up being 'hailed as martyrs for their cause'. Sounded like that's what was in store.

Jorge took plenty of public money figuring out when the Chinese sleep, it's only fitting that he gets his government to steal some more money from the public to figure out when they eat lunch.

everybody goes history does not repeat blah blah blah

But i agree this biatch certainly is doing a very good impression of the same thing ...

Maybe we should say humans repeating their same mistakes or humans not changing their behaviour in the context of (GREED/FEAR)

More likely drunk pplz start to impulse trade which in the current market is BUY BUY BUY !!!!!

Personally i have a breathalyser connected to my Trading rig to stop previous behaviour  

Look at the 1-day RSI chart. The pattern is repeating. If that's true, we should keep raising to 700-ish, stabilize at 600-ish for a month, and the real bubble begins at July.

Money never sleeps!  That includes holidays

But Its a major USA holiday on Monday.. It will be interested to see what it does on Tuesday here in the USA...

Hahahah, that comment made my day.

It's pretty lame, but it excites me to click on the 1day chart on bitcoinwisdom, and shrink it all the way to the smallest size so that you can see all the way back to before we made it past $1000.  For the first time in a long time, things are looking very positive.   I don't want to jinx us, but it truly looks like the trend reversal that we have been wanting for months...

Atleast it's Monday Here and China

600 gonna faaaaallll

Explanation

"Homo sum: humani nihil a me alienum puto."

[Gurgle Translate] "Gay addition: humans no, for me alien male prostitute"

...lolz

Go home professor I dont need ya learning t'day

P.S If you dont like bitcoin then please go fxxx yourself

fxxx= fist
fxxx= fly
fxxx=finger
fxxx=fondle
fxxx=fxxx

As a computer science professor with academic interest in bitcoin only, and not owner, not trader, the right section for you is "Development & Technical Discussion", not "Speculation".

As a computer science professor who is very skeptical of bitcoin's longterm success, the right thing to do is to criticize the design of the blockchain, not to concern when do Chinese people have their lunch