Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33416.

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Quote from: SGExodus on June 07, 2013, 10:42:41 AM

Quote from: ineededausername on June 07, 2013, 10:31:45 AM

Anyone seeing a trend with these 5 am dumps?

ASICMiner selling... China time zone.

Interesting notion ...

During this transition to ASIC mining technology, one entity - ASICMiner - has a very large share of mined coins. Perhaps they have more motivation to sell than the multitude of individual GPU miners that have been effectively replaced.

Lots of slippage when the dump occurs. There are well known techniques to slice orders and time them for more efficient executions, e.g. wait for bids to fill back in. Why don't dumpers use them?

Rampion

legendary

Activity: 1148

Merit: 1018

Pale Phoenix

sr. member

Activity: 420

Merit: 250

Quote from: oda.krell on June 07, 2013, 10:33:51 AM

awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was.

'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk.

I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110.

Your turn

I'm not sure how making a post here puts any money where anyone's mouth is LOL.

I appreciate reading other people's analyses because we all have our own biases, and it's good to have them challenged. IMO, well considered opinions are much more valuable than meaningless short term price predictions pulled out of the derrière.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Bitcoin barometer is feeling bearish
http://mogsta.com/btc/

ft73

hero member

Activity: 564

Merit: 508

Looks like somebody is being concerned by BitStamp staying over 110$ Wink

Ask wall just apperared @111,84$.

SGExodus

full member

Activity: 232

Merit: 100

Quote from: ineededausername on June 07, 2013, 10:31:45 AM

Anyone seeing a trend with these 5 am dumps?

ASICMiner selling... China time zone.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: El Cabron on June 07, 2013, 10:25:31 AM

well, i might be able to buy back in after all!

i have not paid for that lambo yet!

Unless you got a racing course near by , don't bother.
I felt like I wasted 4 years of my life before giving my F430 a real drive.

sarc

member

Activity: 98

Merit: 10

Quote from: oda.krell on June 07, 2013, 10:33:51 AM

awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was.

'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk.

I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110.

Your turn

has your blood sugar got low again?

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: wopwop on June 07, 2013, 08:11:50 AM

It's just miners selling their day profits

These are not speculators selling yet, they are holding dearly to their bitcoin all the way down

Because we see 8k dumps every day from miners right.

Rampion

legendary

Activity: 1148

Merit: 1018

And.... Here..... We...... Go......

oda.krell

legendary

Activity: 1470

Merit: 1007

awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was.

'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk.

I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110.

Your turn :)

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Anyone seeing a trend with these 5 am dumps?

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: nmersulypnem on June 07, 2013, 10:24:48 AM

It's not just that. Low volume is an indication that the actual Bitcoin economy isn't running. The only activity I see on the depth window are the last remaining trading bots. I mean, how is someone supposed to get a few bucks into MtGox to buy something on SilkRoad or wherever? The Bitcoin price went from being 99% speculation, to being 99.999% speculation. I'd love to know how SilkRoad sales have been impacted with the closure of LR, MtGox-Dwolla, etc... At this rate, it's a long long way down...

LR.... Silkroad?
wtf they have in common?

gizmoh

legendary

Activity: 1428

Merit: 1000

The second low from 112 to 109.5 is due to manipulator with 2.5k sell wall pushing down the price..i myself got caught Sad

Thought was that stupid 6k seller again

El Cabron

vip

Activity: 840

Merit: 1000

well, i might be able to buy back in after all!

i have not paid for that lambo yet!

nmersulypnem

full member

Activity: 238

Merit: 100

Quote from: Pale Phoenix on June 07, 2013, 10:20:07 AM

Quote from: Ultraviolet on June 07, 2013, 09:45:40 AM

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

Great post. I'm beginning to come around to this way of thinking. Low volume has signaled a lack of enthusiasm, and we've lost a few easy ways to get new money into coin (Bitfloor, Dwolla, etc.) over a short period of time.

It's not just that. Low volume is an indication that the actual Bitcoin economy isn't running. The only activity I see on the depth window are the last remaining trading bots. I mean, how is someone supposed to get a few bucks into MtGox to buy something on SilkRoad or wherever? The Bitcoin price went from being 99% speculation, to being 99.999% speculation. I'd love to know how SilkRoad sales have been impacted with the closure of LR, MtGox-Dwolla, etc... At this rate, it's a long long way down...

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: ineededausername on June 07, 2013, 10:22:17 AM

Whale who sold 25k must be happy right about now.

Well , if he buys back he will make a lot of people happy...
Or isn't money made just for that?

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Whale who sold 25k must be happy right about now.

MAbtc

hero member

Activity: 826

Merit: 508

3 lower highs, 3 lower lows. So the wedge did break downward. How far will we go?!

Pale Phoenix

sr. member

Activity: 420

Merit: 250

Quote from: Ultraviolet on June 07, 2013, 09:45:40 AM

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

Great post. I'm beginning to come around to this way of thinking. Low volume has signaled a lack of enthusiasm, and we've lost a few easy ways to get new money into coin (Bitfloor, Dwolla, etc.) over a short period of time.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33416. (Read 26634162 times)