Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31155.

iarsenaux

sr. member

Activity: 350

Merit: 250

Quote from: Vycid on December 10, 2013, 08:05:09 PM

Quote from: iarsenaux on December 10, 2013, 08:01:14 PM

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Imagine the fallout if he created a huge competitor because he'd been trying to make a quick buck for himself.

thanks for your opinion. i had never been to other exchanges before i entered bitcoin trading and this whole ups and downs is driving me crazy. now i believe that bitcoin is like a drug -- hallucinogen, depressant and stimullant

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Quote from: Vycid on December 10, 2013, 08:05:09 PM

Quote from: iarsenaux on December 10, 2013, 08:01:14 PM

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Almost fell on floor laughing at the thought ^

vosovich

newbie

Activity: 28

Merit: 0

Quote from: byronbb on December 10, 2013, 07:50:07 PM

Quote from: vosovich on December 10, 2013, 07:21:13 PM

I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?

Spread as in the difference between exchanges?? Remember a few days ago when all the exchanges were in step with each other? That was a buy signal. As gox gets further from the pack the opportunity to perform profitable arbitrage emerges thus opening us up to a re-convergence of prices. Gox prices are high because its hard to withdrawal, and btce 's are low because its hard to deposit and hard to trust.

What I meant was the spread between the asks and the bids. Before the trap it suddenly grew out of proportions, the asks and bids became polarized. It was like a Mexican standoff before hell broke loose.

Vycid

sr. member

Activity: 336

Merit: 250

♫ the AM bear who cares ♫

Quote from: iarsenaux on December 10, 2013, 08:01:14 PM

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Imagine the fallout if he created a huge competitor because he'd been trying to make a quick buck for himself.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

iarsenaux

sr. member

Activity: 350

Merit: 250

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

MAbtc

hero member

Activity: 826

Merit: 508

Quote from: Vycid on December 10, 2013, 07:57:20 PM

Quote from: MAbtc on December 10, 2013, 07:51:35 PM

Quote from: Vycid on December 10, 2013, 07:40:46 PM

Quote from: MAbtc on December 10, 2013, 07:38:08 PM

Quote from: ?? on ??

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

Then can't you speculate that the entire Bitcoin trend up from $0.05 is a giant bull trap? It's meaningless.

I don't think "bull trap" is a term used to encompass years of price movement. I don't think it is a long term formation -- at least not for those who use the term.

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Quote from: ?? on ??

Quote from: seleme on December 10, 2013, 07:51:37 PM

I wish bitcoin exchanges would not be open 24/7.

If one (or all) decides to use "banker's hours" there will just be a new exchange to fill that gap and the "banker's hours" exchanges will get left behind.

The Bitcoin protocol is 24/7 and nothing is going to stop that. Trading will occur regardless.

Plus, not having 24/7 exchanges would be a major risk for payment processors such as bitpay.

Vycid

sr. member

Activity: 336

Merit: 250

♫ the AM bear who cares ♫

Quote from: ?? on ??

Quote from: seleme on December 10, 2013, 07:51:37 PM

I wish bitcoin exchanges would not be open 24/7.

If one (or all) decides to use "banker's hours" there will just be a new exchange to fill that gap and the "banker's hours" exchanges will get left behind.

The Bitcoin protocol is 24/7 and nothing is going to stop that. Trading will occur regardless.

You'd think that'd be the case for traditional financial markets, but it isn't...

I guess it's a product of just how frictionless Bitcoin really is (or maybe just a product of the fact that the Internet has never really had "hours" - can you imagine websites closing down for the night? Cheesy

)

barbs

hero member

Activity: 854

Merit: 1000

Quote from: seleme on December 10, 2013, 07:51:37 PM

I wish bitcoin exchanges would not be open 24/7.

+1

Closed for one day a week would be nice

Vycid

sr. member

Activity: 336

Merit: 250

♫ the AM bear who cares ♫

Quote from: MAbtc on December 10, 2013, 07:51:35 PM

Quote from: Vycid on December 10, 2013, 07:40:46 PM

Quote from: MAbtc on December 10, 2013, 07:38:08 PM

Quote from: ?? on ??

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

Then can't you speculate that the entire Bitcoin trend up from $0.05 is a giant bull trap? It's meaningless.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

I wish alts would still go down when btc is up and vice-verse too. It was much easier game to play when that was the case. Now everything is reliant to btc price and man can't hide himself anywhere.

MAbtc

hero member

Activity: 826

Merit: 508

Quote from: JimboToronto on December 10, 2013, 07:43:30 PM

Quote from: MAbtc on December 10, 2013, 07:38:08 PM

Quote from: ?? on ??

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

Of course the flip side to that is that the move down to 576 was a bear trap which has finally been sprung.

Indeed.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

I wish bitcoin exchanges would not be open 24/7.

MAbtc

hero member

Activity: 826

Merit: 508

Quote from: Vycid on December 10, 2013, 07:40:46 PM

Quote from: MAbtc on December 10, 2013, 07:38:08 PM

Quote from: ?? on ??

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

seriouscoin

hero member

Activity: 658

Merit: 500

Adam, we need a new poll.... "Will we see $800s this December ? "

:p

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Quote from: vosovich on December 10, 2013, 07:21:13 PM

I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?

Spread as in the difference between exchanges?? Remember a few days ago when all the exchanges were in step with each other? That was a buy signal. As gox gets further from the pack the opportunity to perform profitable arbitrage emerges thus opening us up to a re-convergence of prices. Gox prices are high because its hard to withdrawal, and btce 's are low because its hard to deposit and hard to trust.

Vycid

sr. member

Activity: 336

Merit: 250

♫ the AM bear who cares ♫

Quote from: pdawg on December 10, 2013, 07:45:35 PM

I doubt we see a triple top @ ATH, this consolidated at 50-61.8% fib levels form the start of the crash to 576, then took off, exactly what you would expect to see for a nice healthy continuation of the uptrend. I expect new ATH by next week or sooner.

Yeah, this looks a hell of a lot like the Nov 19th correction. Bears are myopic.

pdawg

sr. member

Activity: 252

Merit: 250

I doubt we see a triple top @ ATH, this consolidated at 50-61.8% fib levels form the start of the crash to 576, then took off, exactly what you would expect to see for a nice healthy continuation of the uptrend. I expect new ATH by next week or sooner.

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Quote from: MAbtc on December 10, 2013, 07:38:08 PM

Quote from: ?? on ??

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

Of course the flip side to that is that the move down to 576 was a bear trap which has finally been sprung.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31155. (Read 26608439 times)