Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28166. (Read 26710725 times)

China is like Simon. Simon says Buy BTC. Simon says Sell BTC.

Holy smokes, this can't keep on going surely? Through 3400 now

Yeah, you may be right, but china is big, so their news might F??k us in the back again...hope not...

Here we go. Chinese have already broken their exponential trendline. It s our turn. The fight will soon begin. Bitstamp and bitfinex are getting ready.

Lol, you speak about "long term prospects" for the nth clone of BTC?? You must be kidding, or blind.

I believe bitcoin will be $520-$530 tomorrow

I was there  

I think VTC will easily go to the $20-30 million level short term. Long term prospects are a lot higher imo.

Not sure what you mean by explosion (though VTC has lot of space for it) but VTC had 200% pump the day scrypt ASICS were announced few weeks ago.

It's still a good buy, specially if BTC doesn't drop more.

WTF...

Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/

Check out the "order by % change "

I'm not sure what to do?

Sitting in Vertcoin (VTC) and patiently waiting it's explosion.

WTF...

Has anyone been watching the alt market it's going crazy. http://coinmarketcap.com/

Check out the "order by % change "

I'm not sure what to do?

Wedge closing in Huobi just about now. It's a game of musical chairs and the music is stopping. Short or long?

I don't think they were bad trades. Somebody with an enormous amount of fiat and coins made trades designed to crush small traders.  There are forces at work I don't understand and I'm not back in the market until I understand them.

It's not bad TA. My TA always sucked. I read a story about Doyle Brunsun folding a full house Aces over jacks because some betting was going on in the game he didn't understand. It turned out he made the right choice.

There seems to be massive insider trading. Not skimming. It seems like someone is trying to take it all, to corner the market. A market traded as thinly as Bitcoin (relative to market cap) is vulnerable.

We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.

You said yourself we are all China's bitch. Here's something that just popped into my head:

Whacky conspiracy theory:

Price is being manipulated by the PBoC to accumulate a large position for the purpose of adding it to it's gold and foreign currency reserves. The ultimate goal is to make the renminbi a major world currency, possibly the world's reserve currency.

evidence for said whacky theory:

1. stochastics are funny.

2. Public airing of pro-bitcoin feature on public television followed by outright hostile words and policy, followed by...uncertainty"

evidence against said whacky theory:

1. That's the beauty of conspiracy theories. The lack of evidence merely shows you how deep it goes!

discuss.

The covert US/China Bitcoin race

Premise: The governments of the US, China and possibly others are currently actively engaged in a race to secure the biggest possible amount of Bitcoins for themselves. This is the result of the realization on their part, that cryptographic digital decentralized ledgers are what will replace the current monetary system, which is quite clearly nearing its expiration date. At this moment in time, the governments are trying to figure out a way how to tilt this recent development in their favor, by devising schemes to tax and regulate existing ledgers, or create their own, government-backed ledgers. But because the public sentiment of distrust against established institutions is large and growing, the scenario that the governments will be forced to participate in Bitcoin is plausible and worth hedging against. Thus the race to secure the biggest amount of the current dominant crypto-ledger pie for themselves.

Timeline:
October 2013 - FBI shuts down Silk road and captures its operator, known as Dread Pirate Roberts. This has been planned for months and delayed until Roberts getting fake IDs with obvious intent to travel outside of the country forces their hand. The main objective has never been the shutdown of Silk Road (even though that is a nice side benefit by itself). The objective was to acquire a large stash of Bitcoin without driving up the price and alerting everyone to what was happening. In one swoop, they capture one of the biggest holders of Bitcoin and thanks to their months long surveillance, they manage to get their hands on about 150 000BTC. This in turn forces the hand of the Chinese government, which starts to accumulate coins instantly after the news of the DPR seizure is out, running up the price. The race is officially on.

November 2013 The US, after securing its initial position of Bitcoin, holds a series of senate hearings, with very positive rhetoric, with even Ben Bernanke chiming in to give praise to the idea of digital currencies. This is an attempt, to force the anticipated exponential growth curve of Bitcoin, encouraging hoarding and thus pricing out the Chinese out of the market. Chinese interests respond by trying to crash the Bitoin market while the hearings are underway, but they don't succeed in starting a panic.

December 2013 Even though the Chinese have been buying in huge amounts, they decide they can't risk further immediate price rises. They try to crash the market again, this time successfully, by a combination of an ambiguous official statement and a concurrent huge sell-off.