Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30799. (Read 26713621 times)
December 20, 2013, 11:00:17 PM
Hey Loaded, if you are ever in my country, do consider me as escrow for your transactions. Can't wait to do one of those with suitcases or something.
December 20, 2013, 10:58:25 PM
If Dogecoin was so genius, Bitcoin could just incorporate it's algorithms or whatever, while maintaining all the advantages that Bitcoin already has (first mover, infrastructure, media attention, currency acceptance, etc.).
December 20, 2013, 10:57:35 PM
hard to listen to you Waj, when 75% have you on ignore
December 20, 2013, 10:56:38 PM
I've been saying house of cards for months.... You guys never listen to me. 
its not a house of card tho....
Doge is a house of cards
Disagree. Doge has the most intrinsic value of all altcoins. It's the true successor to bitcoin.
December 20, 2013, 10:56:28 PM
Walsoraj, let's get this started already.
December 20, 2013, 10:55:45 PM
seriously no one is going to sell coins on virtex tonight wtf....
December 20, 2013, 10:54:50 PM
I've been saying house of cards for months.... You guys never listen to me.
its not a house of card tho....
Doge is a house of cards
December 20, 2013, 10:53:38 PM
I've been saying house of cards for months.... You guys never listen to me.
December 20, 2013, 10:51:10 PM
There is now over 10 million in margin trading on Bitfinex, with the average loan rate of over 200%! How long can these traders afford to pay that premium on their money? It looks absolutely insane right now.
The rate reflects volatility. Notice that the BFX sentiment index is bearish. I suspect that the weekend dump pattern has played out, and those bets will not pay off much. The 4000 coin dump earlier didn't seem to harm the price levels much. Absorbing that much coin so well... draw your own conclusions. We're still assimilating the resulting vacuum, however. I'm anticipating basing action consolidating to the 600-620 range, ending in a slow rise to 680-700, but no massive shifts without a polarizing catalyst. Bobby Lee sorts his issues with the princelings, and we glide up maybe, but no serious choo-choo coming out of China unless those ex-hodlers start to feel some remorse.
I agree about the wall. That's why I went back to 100% BTC. It was impressive and it didnt sell off after profit taking from the snap back. So there seems to be money on the sidelines wanting to come back in.
Also, the snap back from the recent lows was on VERY high volume and had a surprising amount of legs. We may find out that China wasn't that important to the market afterall (which has always been my speculative opinion). Again, all these things are potentially bulllish, as are the fact that wealth people are buying this dip off exchanges. Very bullish.
While it feels like a house of cards right now, without bad news in the next few weeks, I am not sure we can go too much further down. Maybe 500. Maybe 450, but I really doubt it. Not unless something caves.
December 20, 2013, 10:50:28 PM
There is now over 10 million in margin trading on Bitfinex, with the average loan rate of over 200%! How long can these traders afford to pay that premium on their money? It looks absolutely insane right now.
The rate reflects volatility. Notice that the BFX sentiment index is bearish. I suspect that the weekend dump pattern has played out, and those bets will not pay off much. The 4000 coin dump earlier didn't seem to harm the price levels much. Absorbing that much coin so well... draw your own conclusions. We're still assimilating the resulting vacuum, however. I'm anticipating basing action consolidating to the 600-620 range, ending in a slow rise to 680-700, but no massive shifts without a polarizing catalyst. Bobby Lee sorts his issues with the princelings, and we glide up maybe, but no serious choo-choo coming out of China unless those ex-hodlers start to feel some remorse.
but i'd prepare for some bad news.... and some L'e Cheapo coins
December 20, 2013, 10:49:20 PM
except clearly they were not hodlers
Here is a theory: those who saw BTC as a way to earn USD have already left the market, too volatileand unpredictable. Those who remain are people whose goal is to grab as much BTC as theyr can.
So they are all trying to trick each other into selling their BTC, while holding fast to their own.
December 20, 2013, 10:45:11 PM
There is now over 10 million in margin trading on Bitfinex, with the average loan rate of over 200%! How long can these traders afford to pay that premium on their money? It looks absolutely insane right now.
The rate reflects volatility. Notice that the BFX sentiment index is bearish. I suspect that the weekend dump pattern has played out, and those bets will not pay off much. The 4000 coin dump earlier didn't seem to harm the price levels much. Absorbing that much coin so well... draw your own conclusions. We're still assimilating the resulting vacuum, however. I'm anticipating basing action consolidating to the 600-620 range, ending in a slow rise to 680-700, but no massive shifts without a polarizing catalyst. Bobby Lee sorts his issues with the princelings, and we glide up maybe, but no serious choo-choo coming out of China unless those ex-hodlers start to feel some remorse.
December 20, 2013, 10:44:02 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
exactly. house. of. cards.
The ONLY thing I can see saving this market is a lot of offline purchases like the one Loaded did and new money coming from the exchange from big hands waiting for an entry point.
But those are freaking loooooong odds. If this wasn't going into Christmas week, I'd have more faith.
I mean, right now it only take ONE large hand to liquidate in China and the market will crash. I bet 2000 coins would do it.
yeah if btc china is really toast ....it will sink in a day or two after jan 1st 2014.....then if we can stabilize at 500 usd coin I'd be thrilled
that is a lot of folk to yank out of bitcoin at one time (unless there are alternate reasons or ways for them to use/move btc I'm not aware of ...noob that I am)
Searing
December 20, 2013, 10:42:32 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
exactly. house. of. cards.
The ONLY thing I can see saving this market is a lot of offline purchases like the one Loaded did and new money coming from the exchange from big hands waiting for an entry point.
But those are freaking loooooong odds. If this wasn't going into Christmas week, I'd have more faith.
I mean, right now it only take ONE large hand to liquidate in China and the market will crash. I bet 2000 coins would do it.
Yeah, I am sweating right now....
December 20, 2013, 10:41:18 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
virtex is a bunch of hodler as well
not fair
Someone earlier said this is a house of cards. Exactly right. I can buy back at a nice profit right now but this is.... I can't help the feeling that I will get slaughtered soon after.
December 20, 2013, 10:40:39 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
exactly. house. of. cards.
The ONLY thing I can see saving this market is a lot of offline purchases like the one Loaded did and new money coming from the exchange from big hands waiting for an entry point.
But those are freaking loooooong odds. If this wasn't going into Christmas week, I'd have more faith.
I mean, right now it only take ONE large hand to liquidate in China and the market will crash. I bet 2000 coins would do it.
December 20, 2013, 10:39:14 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
virtex is a bunch of hodler as well
not fair
December 20, 2013, 10:38:05 PM
On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
December 20, 2013, 10:33:53 PM
Bought out 3 large hodlers off exchange. Enjoying a short vacation in China, still have a few M in assets on me.
It's official. It's gone big..
everyone is hodling.
except clearly they were not hodlers
December 20, 2013, 10:32:01 PM
my trade was much fail
come on sell some Bits & buy some DOge people
come on sell some Bits & buy some DOge people
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