Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27862.

dreamspark

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Quote from: JorgeStolfi on May 05, 2014, 06:40:01 AM

Quote from: check07 on May 05, 2014, 06:29:42 AM

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

yep, I remember when you said it lol. Weird

ChartBuddy

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r34tr783tr78

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And we have to take in account that many orders are fake orders. When the price goes near, they are gone. Exchanges like Bitfinex allow fiat holders to put huge fake sell orders with only a fraction of the necessary money. The same can happen on the bid side.

Majkeeno

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Quote from: CoinThinker on May 05, 2014, 06:42:41 AM

Quote from: cech4204a on May 05, 2014, 06:38:43 AM

Quote from: CoinThinker on May 05, 2014, 06:36:10 AM

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

Order book is showing the same range on both sides (the picture I was looking at went +/- 45 USD on both direction). So it means that compared to the current price, they are 5237 BTC available in the +45 USD range, while the demand in the same range is 6231 BTC.

there are asks and bids in further than +45 usd range. it is only small part of whole orderbook.

+ tupelo answer.

tupelo

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Quote from: CoinThinker on May 05, 2014, 06:36:10 AM

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

You assume that both types of orders would meet at the same price, which is obviously not the case. Moreover orders in any orderbook are a very bad indicator because only a certain amount of them are actually the intended to be filled, the other get withdrawn as soon as the price comes too close.

CoinThinker

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Only the best is The be best...

Quote from: cech4204a on May 05, 2014, 06:38:43 AM

Quote from: CoinThinker on May 05, 2014, 06:36:10 AM

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

Order book is showing the same range on both sides (the picture I was looking at went +/- 45 USD on both direction). So it means that compared to the current price, they are 5237 BTC available in the +45 USD range, while the demand in the same range is 6231 BTC.

JorgeStolfi

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Quote from: check07 on May 05, 2014, 06:29:42 AM

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

cech4204a

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12CDKyxPyL5Rj28ed2yz5czJf3Dr2ZvEYw

Quote from: CoinThinker on May 05, 2014, 06:36:10 AM

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

This is part picture, order book is small part

CoinThinker

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Activity: 462

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Only the best is The be best...

Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

wachtwoord

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Quote from: niothor on May 05, 2014, 06:30:57 AM

Besides , you shoudn't take this board as a model of how the market feels. I doubt that more than 10% of the top 10 traders and holders of BTC use this forum frequently.

How times have changed.

niothor

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in defi we trust

Quote from: ?? on ??

Windy is hardly a perma bear, he's one of the few here who actually changes his opinion after weighing up what the market is doing. He was very bullish for the second half of last year, even before the upturn in November.

Everyone seems to be in denial (cue pictures of Egyptians) at the moment but what he is saying is pretty basic -- people have to buy BTC for the price to go up and there is no new currency on the order books, the bid/sum ratio is creeping back to 1:2.

Everyone seems to think the toothfairy is going to wave her magic wand and buy 50K BTC out of nowhere (but I suspect she is a bit disillusioned with BTC and its associate fraudsters, dodgy exchanges, bans and bad press).

Now, more than ever, its time to realise BTC is about the technology not the currency.

Never use everyone , everything...
It sounds like you're the only one holding the supreme truth and this is hardly the case.

Besides , you shoudn't take this board as a model of how the market feels. I doubt that more than 10% of the top 10 traders and holders of BTC use this forum frequently.

Quote from: check07 on May 05, 2014, 06:29:42 AM

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

No , it's ironic that from February till now you haven't understand what BTC is really about.

check07

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Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

rpietila

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Quote from: inca on May 05, 2014, 05:55:48 AM

[50K BTC]

The price has fallen back from the ATH. Last month it hit the low 3xx's. It takes a relatively modest amount of buying to improve the technical picture and break us definitively out of this down trend.

+1

Voice of reason.

The new purchase of BTC50k for $20M is not a big money for 10,000s of entities, even acting alone.

At this point, it will have a huge impact on price.

We are talking about <1% of all bitcoins. More are not for sale at even close to this price.

cech4204a

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Quote from: akujin on May 05, 2014, 04:49:47 AM

I pity you Grin

EDIT: I already given you some clue... You're just too stupid to see it. I think you need to watch blue's clues to sharpen your brain Grin

And now...

Gone ;-) but you still have no clue (old news are not clue)

ChartBuddy

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inca

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Quote from: ?? on ??

Windy is hardly a perma bear, he's one of the few here who actually changes his opinion after weighing up what the market is doing. He was very bullish for the second half of last year, even before the upturn in November.

Everyone seems to be in denial (cue pictures of Egyptians) at the moment but what he is saying is pretty basic -- people have to buy BTC for the price to go up and there is no new currency on the order books, the bid/sum ratio is creeping back to 1:2.

Everyone seems to think the toothfairy is going to wave her magic wand and buy 50K BTC out of nowhere (but I suspect she is a bit disillusioned with BTC and its associate fraudsters, dodgy exchanges, bans and bad press).

Now, more than ever, its time to realise BTC is about the technology not the currency.

You can predict the future price from the orderbook?

The price has fallen back from the ATH. Last month it hit the low 3xx's. It takes a relatively modest amount of buying to improve the technical picture and break us definitively out of this down trend. Then you will see buying, and when miners see the price rising they will hold out for higher prices and supply will dry up, prices will rise, sentiment on here will magically follow price action and.. you've seen what happens next no doubt.

Do i pretend I know when it will happen? No. But it does not require the intervention of a tooth fairy and I doubt any whale(s) entering the market and triggering a trend change will give advance notice to the trolls on here.

p0peji

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Fucking hell, how boring is the BTC market going to get? Cry

ShroomsKit

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Quote from: inca on May 05, 2014, 04:58:54 AM

Quote from: windjc on May 05, 2014, 03:01:05 AM

Quote from: cech4204a on May 05, 2014, 02:57:25 AM

Quote from: windjc on May 05, 2014, 02:55:49 AM

Quote from: akujin on May 05, 2014, 02:53:38 AM

What if another gox-like dump happen? 62% drop from 430 = hello 266.. LOL! Grin

Pretty much.

There is less support (bid depth) now than there was then. Its just a matter of time before we make a run at 340.

3-5 posts earlier you were talking about 270, now it's 340, you have no clue what will happen, you just would like to see low price to jump on train.

What? Ok, since you don't want to actually look at my post history in more detail, let me clarify for you ---> soon, we could make a run towards 340. If that does not hold, then we are in position to fall to 270 in the intermediate future.

If all the chinese exchanges closed within a few days of each other, we could make a run at 270 even sooner.

I don't know if we will, but I have been preaching for weeks, that unless we get some fresh fiat in here, we will continue to go lower.

Look, its Monday - the best day of the week for bitcoin and the market is going lower. Whoduthunkit?

Blah blah blah. You are a perma bear who posts constant clap trap to try and manipulate others on here to sell.

You don't have the power to move the market, therefore you have no idea in which direction the market is going to move. You simply react. Any plonker can draw a downward sloping line on a chart and prognosticate, but the truth is you dont actually know and when the market turns upwards it will catch you out as always.

Not sure why I took you off ignore, but that has now been remedied. Grin

Couldn't have said it better.

ChartBuddy

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inca

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Quote from: windjc on May 05, 2014, 03:01:05 AM

Quote from: cech4204a on May 05, 2014, 02:57:25 AM

Quote from: windjc on May 05, 2014, 02:55:49 AM

Quote from: akujin on May 05, 2014, 02:53:38 AM

What if another gox-like dump happen? 62% drop from 430 = hello 266.. LOL! Grin

Pretty much.

There is less support (bid depth) now than there was then. Its just a matter of time before we make a run at 340.

3-5 posts earlier you were talking about 270, now it's 340, you have no clue what will happen, you just would like to see low price to jump on train.

What? Ok, since you don't want to actually look at my post history in more detail, let me clarify for you ---> soon, we could make a run towards 340. If that does not hold, then we are in position to fall to 270 in the intermediate future.

If all the chinese exchanges closed within a few days of each other, we could make a run at 270 even sooner.

I don't know if we will, but I have been preaching for weeks, that unless we get some fresh fiat in here, we will continue to go lower.

Look, its Monday - the best day of the week for bitcoin and the market is going lower. Whoduthunkit?

Blah blah blah. You are a perma bear who posts constant clap trap to try and manipulate others on here to sell.

You don't have the power to move the market, therefore you have no idea in which direction the market is going to move. You simply react. Any plonker can draw a downward sloping line on a chart and prognosticate, but the truth is you dont actually know and when the market turns upwards it will catch you out as always.

Not sure why I took you off ignore, but that has now been remedied. Grin

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