Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32822. (Read 26611059 times)

I cannot trust a rally in a market where people can't get the USD out.

Except for April, never has the price been more fake and artificial than right now.

That seems so simple and evident to me.

Why is the sentiment so bullish? Did I miss some big piece of news?

IMO due to the discrepancy between the bid sum and ask sum, we should be already knocking at the 105 wall.
We are probably not there yet because there's still strong seller resistance above 102. Maybe tomorrow.

"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"

which is bearish, in and of itself, you think?

which is bearish, in and of itself, you think?

During the past several months Bitcoin Co. Ltd., in Thailand, has been in the process of registering with the various Thai government agencies in order to operate in a lawful manner.  Included in this due diligence was to reach out to the Bank of Thailand, the governing body that regulates financial transactions in Thailand, and ask for guidance as to any applicable licenses in buying and selling bitcoins.

Initially the Bank of Thailand had bypassed the company’s money exchange license on the basis that Bitcoin was not a currency, however the company was invited back, on July 29th, 2013, to participant in a conference about how Bitcoin works in general, and business operations of Bitcoin Co. Ltd.   The conference was held with about 15 members of the Bank of Thailand in attendance.  During this conference directors of Bitcoin Co. Ltd. gave a presentation about the workings of Bitcoin, the benefits of Bitcoin, incite into the company’s operations and future implications of Bitcoin.

At the conclusion of the meeting senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand:

Buying Bitcoins
Selling Bitcoins
Buying any goods or services in exchange for Bitcoins
Selling any goods or services for Bitcoins
Sending Bitcoins to anyone located outside of Thailand
Receiving Bitcoins from anyone located outside of Thailand

Based on such a broad and encompassing advisement, Bitcoin Co. Ltd. therefore has no choice but to suspend operations until such as time that the laws in Thailand are updated to account for the existance of Bitcoin.  The Bank of Thailand has said they will further consider the issue, but did not give any specific timeline.

I sense very bullish sentiment here

Yeah I don't know but either one really big guy, or a lot of smaller big guys are fighting for that OTC BTC.  Just about everyone I have ever worked with contacted me recently. This movement up did not shock me at all.

maybe people are buying bitcoins because they're cheap

Maybe someone is trying to ignit a panic buy prior to performing a massive dump ?

Could you please make such information public (best in the form of appealing graphics) so I can buy and sell coins accordingly?

Yeah I don't know but either one really big guy, or a lot of smaller big guys are fighting for that OTC BTC.  Just about everyone I have ever worked with contacted me recently. This movement up did not shock me at all.