Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29956. (Read 26620112 times)

Good feeling Gox will dump tonight based on stamp. Followed by a stamp dump based on china dump. Not positive, just sense it happen a alot.

*sigh*

There was a downwards following wall of  more than 4000 BTC a few weeks ago on Stamop. There will be no panik, and the seller knows that. It will be go up, sidewards, or downwards, but without really bad no news, no chance for panic.

Large dumps have corresponded with the forum going down since as long as I've been paying attention (March 2013).  

IIRC, evidence of DDoS attacks on the forum exist and I believe the admin have confirmed this several times.  The other logical explanation is that "everyone rushes to bitcointalk.org when they see a big dump."

I would not dismiss it too early.

just a useless attempt to spread panic i think 

Boy that was a slap in the face of an otherwise reasonably stable chart.

@1500 dump... was it just me or did bitcointalk go down in exactly that instant?

correlation or... causation?!?? much drama

My two cents of Dogecoin:


Perhaps because those "good news" are not meanigful for people who are not into bitcoin already?

Perhaps because people who are already into bitcoin know that those "good news" are not that great, actually? (E.g. "another merchant acepts bitcoins" actually means "another merchant accepts cash through Bitpay or Coinbase".)


Many people who have invested in bitcoins are not that confident about it.  Presumably they rush to sell, before waiting for the news to be confirmed, because they fear being run over by a crash.


I would think so.  They seem to be the driver also for tarde volume.  With or without holidays, they account for 70% or more of the total trade volume.


I think that I see the same thing at Huobi.

Could be arbitrage traders, pulling the price back towards the other exchanges.  (Crashes and rallies seem to be much slower now than they used to; presumably it is the same cause.)


After the Dec/01 crash and the failure to recover in 2 months, many people realized that the success of Bitcoin is not as certain as it seemed before.  The China actions showed that governments can stop bitcoin if they decide to do so.  Then altcoins blasted a big hole in the arithmetic that "proved" million-dollar prices in a few years.

People are becoming aware that the price is set entirely by the market, and the market does not seem to see those astronomical prices any time soon.

Thrue believers, who would buy BTC at any price, apparently ran out of money. The exchanges apparently became the playground of speculators who only expect the price will rise enough for them to sell at a profit; or fall by a fair amount but then rebound to the current level.  Thus they won't sell for less than X + 50 and won't buy for more than X - 50. And so the price stays at X.

The buying of bitcoins for use in commerce does not seem to be enough to affect the price, and should be offset by the sale of coins by miners and merchants.

i feel sorry for the guy who dumped these coins LOL

to the moon! 

1500 btc dump. Lets see how this pans out.

Exactly, it shows BTC-E/Stamp are tightly correlated while Gox is doing its own thing.

Don't just stare at it...eat it!   haha

Wow. Mtgox within $108 of Bitstamp.

I don't think there is a specific reason really. The whole atmosphere just changed from 800 is cheap we can only go up from here to holy shit we reached 820 i must panic sell now before it's too late and we go down again. A lot of new people bought at these prices and are afraid we won't go up anymore so they keep dumping as soon as they see 10 dollars profit and that makes everyone afraid. Because...well...sheep.

We need to get over this either by going down, let the sheep get rid of their coins and let new people buy at what they call cheap prices, or let it go up without getting into a crazy panic mode right away. People will see there is little to fear if they just stop selling for once. Once it goes up 100 dollars or more they will get confident again. Right now fear and pure greed is stopping both directions. I can't blame the greed part. Nobody wants to lose money but it makes people act dumb and only makes it worse.

So, on reading the posts for the last few days, I’m left wondering a few things.  I’m not sure that I’m capable of reaching valid conclusions for the questions that I have. 

The good news surrounding bitcoin does not seem to advance the price.  Any hint of bad news, FUD, seems to drop the price temporarily.  Why?

If we disregard MtSux, which seems to be forgone, we are left with a few western exchanges and a group of Chinese exchanges.  The China exchanges have been dead since before the ‘holidays’ and the price is mostly flat on the other exchanges.  Does this indicate that the Chinese exchanges are the driver for price discovery?

Bitstamp and BTC-e are effectively flat lined.  When the bid or ask walls reach some level, an order hits and the price moves.  Then a series of orders arrive which brings the price back to the previous level.  Can we assume that intentional balancing forces are at work here?
1.    If it is intentional balancing, is this the work of a few individuals acting independently or is this the work of a group acting in concert?
2.   For what purpose?

From a trading perspective, it seems that we can’t rely on ‘good news’ as a place to buy the rumor and then sell the fact.  The converse does seem to be working. Sell the fud and then buy the facts.  Why are things about bitcoin price so negative lately?

So many questions and few answers that don’t require a tinfoil hat to answer.

/random thoughts on a snowy day with little trade opportunities.

I don't get it anymore. If a whale buys 500 coins people sell right into it and make sure the price goes down again. They refuse to let the price go up for some odd reason.
Any hint of bad news and people dump. But when the dumping starts nobody really follows and the price goes back up again.
So if the sheep don't want to go down then just stop selling as soon as someone starts buying! Guess what, your coins will be worth more. Yup, it's almost like magic.

Looks bit flat, I feel some tension in the air. I am negative for some other stuff though so it might be a wrong perception.

ha ha oh dear whoever made this... has too much time on their hands

Ok there is your start sign. Now dump all your coins already. Just get it over with.

http://www.youtube.com/watch?v=OeTwwgm6Vsc