Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29856.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: TERA on February 10, 2014, 07:17:30 AM

Quote from: podyx on February 10, 2014, 07:15:40 AM

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

means rally tomorrow?

There's no reason for a rally tomorrow. The silk road crash interfered during an uptrend which is why a rally continued afterwards. Now there is a downtrend and prices were already slumping into a decline before this even began.

I agree with your conclusion (no real, lasting rally tomorrow), but you're completely wrong about your reasons. Silk Road didn't take place "during an uptrend". Go check your charts, please. It happened after a 2 month period of very, very cautious upwards movement, after the post-April bear market, and more precisely: happened as that "cautious uptrend" was faltering and we were slightly declining again.

It *was* the perfect timing, because buying pressure has built up back then, and it was released in one big show of support at the low price level that the SR crash brought us to. Plus of course the news item itself (criminal usage of BTC removed -- not really of course, but that's the news).

So, the difference between now and then is not that we were in an uptrend, but that we had pent up buying pressure after a long period of very cautious movement. And I don't see such a built up pressure right now. not yet, at least.

Denton

full member

Activity: 798

Merit: 100

Quote from: stompix on February 10, 2014, 07:20:27 AM

Quote from: Denton on February 10, 2014, 07:10:27 AM

Headlines: Bitcoin loses 84% of it's value in 15 minutes as a critical bug is discovered.
Fuck you gox!

Common , where did you get that 84%?

BTC-e 15 minute chart. The candle that went from 666 to 102.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: stompix on February 10, 2014, 07:07:10 AM

Quote from: TERA on February 10, 2014, 07:00:26 AM

Imagine if bitcoin actually "dominated fiat currency" and became a global finance leader for banks etc. like the bulls dream of, and then shit like this happens.

If bitcoin was a global finance leader as you say , do you think people like the clowns at mtgox would still be in charge of 20% of the trade?

If bitcoin was a global finance leader, would its traders still pretend that 3/4 of the global market simply does not exist? Angry

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Painful Truth on February 10, 2014, 07:16:13 AM

And again:

Blame it on Mt. Gox:

http://www.youtube.com/watch?v=K2ku1A5Ox8U

How many crashes have they caused again? How many more will follow?

Hopefully this will be the last one.
After this I doubt they will have more than 5% of the market for a few weeks and then > 0.

magicmexican

hero member

Activity: 812

Merit: 1000

The proportions of the impact still feel very suspicious, Gox basically took some old and well known (to devs) things, and "turned" them into "news" about btc protocol. I dont want to believe that the whole crypto market is that retarded to panic so hard based on such "news"

There should be something more to it.

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: TERA on February 10, 2014, 07:14:27 AM

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

Silk road crash happened during an uptrend. This is happening amidst a downtrend. Thus it is too risky to even trade.

We were on an upward trend, too. Since the problems of Gox it was falling...

hyphymikey

hero member

Activity: 784

Merit: 1000

So much fail at bitfinex!

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: TERA on February 10, 2014, 07:17:30 AM

Quote from: podyx on February 10, 2014, 07:15:40 AM

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

means rally tomorrow?

There's no reason for a rally tomorrow. The silk road crash interfered during an uptrend which is why a rally continued afterwards. Now there is a downtrend and prices were already slumping into a decline before this even began.

+1
Well said TERA.

Two bad news here:
1) Gox aint fixing nothing. Money stuck. Btc stuck.
2) Blames Bitcoin protocol flaw, giving very bad press.

This is far from over IMO.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Denton on February 10, 2014, 07:10:27 AM

Headlines: Bitcoin loses 84% of it's value in 15 minutes as a critical bug is discovered.
Fuck you gox!

Common , where did you get that 84%?

TERA

hero member

Activity: 728

Merit: 500

Quote from: podyx on February 10, 2014, 07:15:40 AM

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

means rally tomorrow?

There's no reason for a rally tomorrow. The silk road crash interfered during an uptrend which is why a rally continued afterwards. Now there is a downtrend and prices were already slumping into a decline before this even began.

threecats

sr. member

Activity: 378

Merit: 250

Quote from: electronistul on February 10, 2014, 07:03:52 AM

Here we go, round two.
Grab your seatbelts, boyz, it's going to be a swift ride to ~450ish

bfx just opened. latecomers to the party

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

hm, I give this a few thoughts

You might be right. The last weeks, Mt Gox was Bitcoins biggest problem.

Painful Truth

sr. member

Activity: 294

Merit: 250

And again:

Blame it on Mt. Gox:

http://www.youtube.com/watch?v=K2ku1A5Ox8U

How many crashes have they caused again? How many more will follow?

JCviggen

hero member

Activity: 1260

Merit: 505

Age Of Mars | GameFI Virtual colonization of Mars

Oh man, I cancelled an order I had on BTC-e for months just days ago... 10@266 Sad

At least I got one at 450$ and a couple more all the way up to 600. Sold them all back at 650 and sitting back now.

podyx

legendary

Activity: 2338

Merit: 1035

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

means rally tomorrow?

TERA

hero member

Activity: 728

Merit: 500

Quote from: Ivanhoe on February 10, 2014, 07:12:24 AM

Silkroad crash 2.0, veterans know what i mean by this.

Silk road crash happened during an uptrend. This is happening amidst a downtrend. Thus it is too risky to even trade.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Volumes (kBTC) in the two hours 10:00 to 11:59 UTC
Huobi 46.93 Bitstamp 34.23 BTC-e 24.52 BitFinEx 19.14 MtGOX 18.22 OKCoin 14.70 BTC-China 8.31

kehtolo

hero member

Activity: 707

Merit: 500

Quote from: TERA on February 10, 2014, 07:00:26 AM

Imagine if bitcoin actually "dominated fiat currency" and became a global finance leader for banks etc. like the bulls dream of, and then shit like this happens. No way...

I know what you are saying.. but IMO if it were to evolve to the point where it was in a position to do this, then it would be far less subceptable to these kinds of crashes and fluctuations.

mmortal03

legendary

Activity: 1762

Merit: 1011

Quote from: Denton on February 10, 2014, 07:10:27 AM

Headlines: Bitcoin loses 84% of it's value in 15 minutes as a critical bug is discovered.
Fuck you gox!

http://online.wsj.com/news/articles/SB10001424052702304104504579374410182920576?mod=mktw

Edit: Paywalled, at least this gives some info: http://www.marketwatch.com/story/mt-gox-finds-bitcoin-glitch-2014-02-10?mod=latestnewssocialflow&link=sfmw

Ivanhoe

hero member

Activity: 841

Merit: 1000

Silkroad crash 2.0, veterans know what i mean by this.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29856. (Read 26710308 times)