Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33339. (Read 26498086 times)
June 01, 2013, 07:02:45 PM
June 01, 2013, 06:58:19 PM
Volume isn't just lower compared to post-crash, but also before that:
That's probably because of the recent incidents with regulations. Many people are waiting until that is cleared up before they can confidently trade again on Gox. Until then the volume will stay extremely low, with short increases in volume during price changes.
Wishful thinking, bull.
A more likely scenario is that speculators consider the price too high (potential reward greatly outweighed by risk at the moment), stubborn miners in a more competitive environment are holding positions, stubborn sellers are not willing to go lower than their entry point and there is a much reduced flow of money into Gox. Unlikely that the regulations are primarily responsible for widespread panic or reluctance to buy in. It is true that the regulations make it more difficult to get money into Gox, but generally only for the criminal-minded. If you have nothing to hide, it is still easy to get money into gox, for example via wire.
I would entertain the possibility that recent regulations have scared away a small minority of criminals who were using bitcoin for money laundering. If this minority was responsible for most of the previous volume and are now absent, then I'd bet on a long, drawn-out downturn.
Look in the mirror, who is wishful thinking now? I'm not really bullish nor bearish on the short term, it depends on how this whole regulation issue gets resolved. If it gets resolved in a good way that fully legitimizes the bitcoin exchange then yes I'm very bullish. I do feel that we're going to move up a little after the current period of consolidation, but it will be a relatively small and hesitant move as long as there's no resolution to these issues, and it could just as easily reverse again the week after. And it's not just that you have to get verified now to trade or that there are no fast, cheap and easy ways to move money in and out like with Dwolla. That's annoying ofcourse, but the main thing is that Gox apparently does not have its act together and trust in the exchange is dwindling. If you can't see that this all would cause a significant loss in volume then you're just blind.
June 01, 2013, 06:29:40 PM
Volume isn't just lower compared to post-crash, but also before that:
That's probably because of the recent incidents with regulations. Many people are waiting until that is cleared up before they can confidently trade again on Gox. Until then the volume will stay extremely low, with short increases in volume during price changes.
Wishful thinking, bull.
A more likely scenario is that speculators consider the price too high (potential reward greatly outweighed by risk at the moment), stubborn miners in a more competitive environment are holding positions, stubborn sellers are not willing to go lower than their entry point and there is a much reduced flow of money into Gox for numerous reasons, including potential new investors sitting on the sidelines viewing a stagnant price and considering weaker returns. Doubtful that the regulations are primarily responsible for widespread panic or reluctance to buy in. It is true that the regulations make it more difficult to get money into Gox, but generally only for the criminal-minded. If you have nothing to hide, it is still easy to transfer money, for example via wire.
I would entertain the possibility that recent regulation enforcement has scared away a small minority of criminals who were using bitcoin for money laundering. If this minority was responsible for most of the previous volume and are now absent, then I'd bet on a long, drawn-out downturn.
June 01, 2013, 06:09:31 PM
Volume isn't just lower compared to post-crash, but also before that:
That's probably because of the recent incidents with regulations. Many people are waiting until that is cleared up before they can confidently trade again on Gox. Until then the volume will stay extremely low, with short increases in volume during price changes.
June 01, 2013, 06:06:50 PM
or bank fees. money goes out -> transfer fee, gets exchanged -> exchange fee, goes back in -> transfer fee, you buy BTC -> Gox fee. I can see it reaching 2.5%.
This is a shame. One of the attractive things about Bitcoin to me was the possibility of low cost currency conversions. If Gox is just running it through a bank and passing on the charges, that, quite frankly, sucks.
June 01, 2013, 06:05:29 PM
Don't worry bulls, Smoothie will post about conference, and choo choo we go 
June 01, 2013, 06:04:09 PM
June 01, 2013, 06:02:51 PM
June 01, 2013, 05:55:34 PM
Volume isn't just lower compared to post-crash, but also before that:
June 01, 2013, 05:52:22 PM
Everything just goes in slow-motion now with the lack of volatility, post-crash it was just crazy. But look back in two weeks from now and things will have changed quite a bit.
June 01, 2013, 05:48:38 PM
There was considerably more volume mid-April. A wall isn't effective when no one is interested in trading.
June 01, 2013, 05:46:33 PM
we were in a rly different situation, just after the crash and the price went up directly. i'm rly not sure if it will be the same this time.
few months ago was so easy^^
June 01, 2013, 05:41:12 PM
I just checked. Yes, it was going up and crazy_rabbit and others were here. It was election erection day. But here we are. Nobody to sell, nobody to buy.... just ChartBuddy posting... it is dead.
June 01, 2013, 05:39:01 PM
If I had 10kBTC, I would sell it. But I don't . And I need € to buy land, greenhouse and fence.
Don't remember. What happened Frozenlock?
. And I need € to buy land, greenhouse and fence.Don't remember. What happened Frozenlock?
We had a rally up to $166 after that.
And crashed to $80 after.
June 01, 2013, 05:37:10 PM
it's good to see that there are more people thinking about buying.
i started holding back some weeks ago just to see where things are heading
and now I'm sitting on fresh cash and watch wallzilla playing games with my brain
Shit what you want?...will that white knight be there next week or is it just a big pumpndumppuppy by some bad bear?
sigh...
perhaps i invest some btc in more tinfoil instead...
i started holding back some weeks ago just to see where things are heading
and now I'm sitting on fresh cash and watch wallzilla playing games with my brain
Shit what you want?...will that white knight be there next week or is it just a big pumpndumppuppy by some bad bear?
sigh...
perhaps i invest some btc in more tinfoil instead...
June 01, 2013, 05:34:59 PM
Price went up, but the wall remained untouched.
this was kind of like a training simulation. June 01, 2013, 05:32:57 PM
If I had 10kBTC, I would sell it. But I don't . And I need € to buy land, greenhouse and fence.
Don't remember. What happened Frozenlock?
. And I need € to buy land, greenhouse and fence.Don't remember. What happened Frozenlock?
We had a rally up to $166 after that.
June 01, 2013, 05:31:52 PM
Price went up, but the wall remained untouched.
June 01, 2013, 05:29:54 PM
If I had 10kBTC, I would sell it. But I don't . And I need € to buy land, greenhouse and fence.
Don't remember. What happened Frozenlock?
. And I need € to buy land, greenhouse and fence.Don't remember. What happened Frozenlock?
June 01, 2013, 05:28:11 PM
Remember that?
Million Dollar (14K coin) Bidwall just went up @ $70! Hope it holds.
I don't. What happened then?
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