Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29207. (Read 26608472 times)

Ok this is getting stupid. Bought some more just over 600. May regret that.  

No one knows what happened to MtGox, or what happened to the coins and fiat on MtGox, and everyone are cheering "good news" and are buying in.
This market is beyond stupid imo.

I think a lot of the good news over the past month that people say 'didn't affect the price'  went like energy into the coiled spring beneath this rally. And is now being released.

One thing about bitcoin is the enormous schism between users / investors / believers and the MSM. Users and investors have been definitely noticing this stream of adoption and development, and recognizing all the good news - the increasing mainstreaming of BTC is quite unmistakable. But the deflating bubble + Gox has not allowed translation into the marketplace.

In addition, the 'good news' this week is nothing short of remarkable. An end in sight to the Mt Gox debacle. Possible reduction of the total BTC in circulation by a significant percentage = scarcity. Reduced threat of Gox coins being suddenly dumped on the market. Support from Larry Summers.  Coinbase breaking records in new users. ATMs sprouting like mushrooms. Neo bank opening in Cyprus. SecondMarket in conversations with authorities & players about fast tracking new exchange in NYC. Extrordinary remarks yesterday from Benjamin Lawley about how the Gox insolvency demonstrates the need to move quickly ahead with clear legal guidelines.

In addition, the more one moves into the vertical rise of an exponential pattern, the gaps in the oscillations become more compressed.

So yea, rally surprising. But maybe not entirely irrational.

That's why coins are stolen: to be never used again...
Do you know the addresses that got double, triple, endless payouts from Gox? If so we can check if the coins are still there.

Why not using mixers, gambling sites and so on to stray the coins and then sell them?

works for me

Its more like x% of the coins traded are gone = x% price rise. 

I don't know, but the price is extraordinary strong in the light of the current events.

What idiot that is capable of stealing 750k of coins is going to risk it even entering an exchange? How many hacks have we seen of X amount of coins enter the free market? None? We will probably never see those coins again since it going to be sold in large chunks to heavy hitters.

you mean 7% of the coins "gone"  = 7% price rise ?

Finally some good news. Gog Bitcoin Go !

I don't see the negativity holding us back. Gox was holding us back..it was a fake market that sucked up fiat that would have been used to purchase bitcoin. ATH by 1 April..if not sooner.

I'm unsure whether it was menitioned before:

Every coin the thefts have withdrawn from Mt.Gox was somehow doubled in the past. It was most probably sold by the thefts _and_ it was balanced at the Gox user accounts.
So now there are a lot of people that have less bitcoins than they thought they would have a week ago.

Sooooo, which are your odds of keeping this rally?

Incoming!   

What is the minimum amount of bitcoins to be considered "a wall". 50? 100? 200? 500? 1k?  over 1k?

Where does this quote come from?

Bitcoinbuilder withdrawals are now in the blockchain.

So all professional GOX bashers from USA in here, STFU until you have a revolution and get rid of your own corrupt gov.

Still think GOX downfall is good for Bitcoin?

Think again. If USA can keep GOX under siege, close down the trade engine, and issue gag orders for people involved; it can happen to any exchange still operating out there.

I would be surprised if that wasn't the bottom. My guess is, we take a trip up to the mid 700s to low 800s and consolidate for several weeks. Then we start really moving up again.

The week chart for this bubble looks just like the April bubble.

Edit: from the same point in the April bubble, there were about 12 weeks before things started to really heat up again.

Good morning, As I said yesterday, from looking to the 4h chart there is now a crossover which indicate to a rally up in the next few days, the market will be bullish, I still cant figure out the top of this race but the good news is that the 2nd bottom is finally forming which means that we are leaving the bubble behind us and we will start a new cycle...

all we need is a positive MACD and few bullish days and we are over with the bubble thing....

Just stare at this for a while. You'll feel better. Note the 24-hr timeline, and the news that happened 24 hrs ago.

Keeps the FUD in perspective with a little reality.