Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30260.

deadfi$h

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Quote from: DaRude on January 17, 2014, 05:48:03 PM

Quote from: Tyson95 on January 17, 2014, 04:31:40 PM

Quote from: deadfi$h on January 17, 2014, 04:24:39 PM

Feels good to sit 100% fiat until the sleeping dragon awakes. I'm guessing selling should resume in about 3 hours.

What if they buy?

Option #1 Claim it's a bull trap
Option #2 Claim that you rebought at the (insert minimum price market hit after you claimed you sold)
Option #3 Go into the shadows and just watch all the CCMF posts
Option #4 Rebuy and HODL

I would probably wait because that would throw us back into uncertainty. I'm watching for another leg down on the selling but I'm not sure how much we have left before needing to consolidate. I'm all for a raging bull market but that isn't the current situation. Best I can hope for is a raging bear market.

I hold no position right now so who cares which way China sends the market? They should wake up in about an hour and have an opinion on the current situation one way or another

aminorex

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Sine secretum non libertas

Quote from: virtualfaqs on January 17, 2014, 05:10:42 PM

Quote from: gmannn on January 17, 2014, 05:04:59 PM

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run? Huh

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible. Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float. The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market. Only redemptions (if the fund allows them) can free those coins to float on an exchange.

virtualfaqs

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Activity: 700

Merit: 500

Quote from: kurious on January 17, 2014, 06:01:08 PM

Quote from: dgarcia on January 17, 2014, 05:58:57 PM

Quote from: virtualfaqs on January 17, 2014, 05:51:19 PM

Quote from: dgarcia on January 17, 2014, 05:46:51 PM

I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.

Grin

Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.

Fake or not. Walls or only hummocks.

But realy: I'm the only one on this board who does not know what will happen next ;-)

No you're not

Whoever knows what will happen next has better things to do than be on this board.

kurious

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Quote from: dgarcia on January 17, 2014, 05:58:57 PM

Quote from: virtualfaqs on January 17, 2014, 05:51:19 PM

Quote from: dgarcia on January 17, 2014, 05:46:51 PM

I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.

Grin

Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.

Fake or not. Walls or only hummocks.

But realy: I'm the only one on this board who does not know what will happen next ;-)

No you're not

MAbtc

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Activity: 826

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Quote from: seleme on January 17, 2014, 05:25:01 PM

Quote from: MAbtc on January 17, 2014, 05:17:05 PM

Quote from: seleme on January 17, 2014, 05:09:19 PM

Accurate answer is - there will be no capitulation.

Like I've said, maybe that's the case. But you sound a bit too sure of yourself.

I do, as I'm completely sure of it. I'm trading (and losing money mostly recently though) daily, so I am not hodler, I still have some fiat available to buy if it goes down more but I'm 100% sure there's no capitulation this time. This is not 2011, this is not 2013., this is 2014 and we have daily positive news that would cause a huge bubble each time before.

There's no capitulation this time, China uncertainty is suppressing price but we're 2-3 weeks away of putting that stuff behind.

So capitulation in mid-December 2013 was possible, but not in early 2014? How are you so sure that "China uncertainty" is suppressing the price?

How do you feel relative to the last capitulation? Did you expect it then?
https://bitcointalksearch.org/topic/m.4020758

dgarcia

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Activity: 140

Merit: 100

Quote from: virtualfaqs on January 17, 2014, 05:51:19 PM

Quote from: dgarcia on January 17, 2014, 05:46:51 PM

I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.

Grin

Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.

Fake or not. Walls or only hummocks.

But realy: I'm the only one on this board who does not know what will happen next ;-)

virtualfaqs

hero member

Activity: 700

Merit: 500

Quote from: dgarcia on January 17, 2014, 05:46:51 PM

I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.

Grin

Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.

DaRude

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Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: Tyson95 on January 17, 2014, 04:31:40 PM

Quote from: deadfi$h on January 17, 2014, 04:24:39 PM

Feels good to sit 100% fiat until the sleeping dragon awakes. I'm guessing selling should resume in about 3 hours.

What if they buy?

Option #1 Claim it's a bull trap
Option #2 Claim that you rebought at the (insert minimum price market hit after you claimed you sold)
Option #3 Go into the shadows and just watch all the CCMF posts
Option #4 Rebuy and HODL

dgarcia

full member

Activity: 140

Merit: 100

I would realy laugh, if after selloffs and rebuys in the western exchanges (without no reason), china wakes up and starts to sell hard (only to troll)

Grin

deadfi$h

full member

Activity: 125

Merit: 100

Quote from: virtualfaqs on January 17, 2014, 05:10:42 PM

Quote from: gmannn on January 17, 2014, 05:04:59 PM

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run? Huh

Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement.

Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit.

Market looks strong -> buy
Market looks weak -> short.

T.Stuart

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Activity: 644

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One Token to Move Anything Anywhere

Quote from: seleme on January 17, 2014, 05:25:01 PM

There's no capitulation this time, China uncertainty is suppressing price but we're 2-3 weeks away of putting that stuff behind.

Earlier. If the Chinese were en masse going to take money out of their exchanges they would have already started doing it. You wouldn't put your withdrawal order in on 30 January would you?
I think a lot of people have money on the sidelines specifically for this situation. As it becomes clear that nothing is happening and without any other doomsday-scenario to point to, many will become concerned (and I think rightly so) that the price is going to float higher.

hdbuck

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Quote from: gizmoh on January 17, 2014, 05:21:17 PM

My TA says: Sell off over for this week. Recovery ahead for the week end. Downtrend resumes Monday/Tuesday.

+1

although we might wanna keep an eye on what china will do when it wakes up

deadfi$h

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Activity: 125

Merit: 100

Quote from: gmannn on January 17, 2014, 05:04:59 PM

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

Why can't you properly short now?

seleme

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Duelbits.com

Quote from: MAbtc on January 17, 2014, 05:17:05 PM

Quote from: seleme on January 17, 2014, 05:09:19 PM

Quote from: MAbtc on January 17, 2014, 04:28:23 PM

Quote from: T.Stuart on January 17, 2014, 04:20:15 PM

Quote from: MAbtc on January 17, 2014, 04:17:03 PM

Quote from: T.Stuart on January 17, 2014, 03:32:09 PM

This "capitulation" has got absolutely no conviction.

We are nowhere near capitulation.

Give us a rough time then

This perspective is not largely based on time. No estimate within reasonable accuracy.

Accurate answer is - there will be no capitulation.

Like I've said, maybe that's the case. But you sound a bit too sure of yourself.

I do, as I'm completely sure of it. I'm trading (and losing money mostly recently though) daily, so I am not hodler, I still have some fiat available to buy if it goes down more but I'm 100% sure there's no capitulation this time. This is not 2011, this is not 2013., this is 2014 and we have daily positive news that would cause a huge bubble each time before.

There's no capitulation this time, China uncertainty is suppressing price but we're 2-3 weeks away of putting that stuff behind.

damiano

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103 days, 21 hours and 10 minutes.

looks like someone trying to push the price up on stamp

gizmoh

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My TA says: Sell off over for this week. Recovery ahead for the week end. Downtrend resumes Monday/Tuesday.

T.Stuart

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Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: seleme on January 17, 2014, 05:09:19 PM

Quote from: MAbtc on January 17, 2014, 04:28:23 PM

Quote from: T.Stuart on January 17, 2014, 04:20:15 PM

Quote from: MAbtc on January 17, 2014, 04:17:03 PM

Quote from: T.Stuart on January 17, 2014, 03:32:09 PM

This "capitulation" has got absolutely no conviction.

We are nowhere near capitulation.

Give us a rough time then

This perspective is not largely based on time. No estimate within reasonable accuracy.

Accurate answer is - there is no capitulation. Flash crash due to some Chinese shit is definitely possible but capitulation with news we have on daily basis - no way.

To be fair MAbtc did add this possibility as an EDIT.
Over the past few weeks this has become very clear: this "bubble" tail-end will play out proportionally higher than previous tail ends. Market sentiment is obviously underpinned now by the idea of the move into mainstream acceptance. This is being reflected in the charts and price movements: the smaller, less-hurried selling periods in comparison with quicker, slightly steeper buying periods. Hodlers are running the show now: after all, what's so difficult about waiting at least few weeks or months when it looks like there is so much in store for 2014.

MAbtc

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Quote from: seleme on January 17, 2014, 05:09:19 PM

Quote from: MAbtc on January 17, 2014, 04:28:23 PM

Quote from: T.Stuart on January 17, 2014, 04:20:15 PM

Quote from: MAbtc on January 17, 2014, 04:17:03 PM

Quote from: T.Stuart on January 17, 2014, 03:32:09 PM

This "capitulation" has got absolutely no conviction.

We are nowhere near capitulation.

Give us a rough time then

This perspective is not largely based on time. No estimate within reasonable accuracy.

Accurate answer is - there will be no capitulation.

Like I've said, maybe that's the case. But you sound a bit too sure of yourself.

virtualfaqs

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Activity: 700

Merit: 500

Quote from: gmannn on January 17, 2014, 05:04:59 PM

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run? Huh

kurious

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Activity: 2604

Merit: 1748

Quote from: fotosonics on January 17, 2014, 04:59:12 PM

Quote from: JorgeStolfi on January 17, 2014, 04:54:20 PM

Quote from: alexeft on January 17, 2014, 03:18:35 PM

Quote from: GreekGeek on January 17, 2014, 03:14:59 PM

http://www.pfhub.com/bitcoin-violates-numerous-laws-according-to-indonesia-central-bank-303/

Who cares!

The 247 million indonesians probably care.

"The central bank authority conceded that it has no regulations in place to prohibit the utilization of bitcoin."

Boom. The rest is the usual warning about volatility blah blah blah. So Indonesians, like anyone else, can still stick it to the Man.

This is actually positive. A massive population - which as yet is not a significant BTC 'hub' is now becoming aware, by virtue of this.

The fact it is not a ban, but raises awareness is something going on worldwide. Bitcoin is an issue ALL governments are being forced to acknowledge and have a formal stance on.

People I never expected to mention Bitcoin are now aware of it. This has changed massively in just a few months.

Awareness is now huge. This is as good as we could hope for. While China and some other factors are causing short term nervousness, we are way beyond the 'drugs / dark web / porn' currency stage.

It's a marketing success and Bitcoin is now a fact. Worldwide.

This does not mean 'to the moon' today, and probably not tomorrow.

But it is a huge stage, far earlier than I and probably all of us expected.

2014 will be very interesting. Let's just get this China shit sorted and we can get on with solid and exciting development and growth. The network is the key, and will be built upon, much like the internet was.

Apps and new uses we have never thought of will make crypto, and BTC in particular into a massively big deal.

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