Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33493.

Ultraviolet

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Quote from: needmorecoins on May 17, 2013, 08:11:55 AM

Hmm...nothing's changed with Gox/Dwolla?
So is there anyway to tell if this rally is because of the public's bullish sentiment, or because US gox users are converting their fiat into btc and hence causing a rise in price?

IMO whoever was converting all their fiat to BTC and moving it off Gox would have done it during/after the immediate sell off, with the late-to-the-party group doing it before/immediately after that 4 hour DDOS.

Panic/danger sentiment is down and the price is up, so it's much less likely for Gox exodus to be the cause.

Market showed an immense amount of support for 110-115 after the panic news, the red candles, and the DDOS. I think that's why sentiment is more bullish.

michaelGedi

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"to be or not to be, that is the bitcoin"

Quote from: needmorecoins on May 17, 2013, 08:11:55 AM

Hmm...nothing's changed with Gox/Dwolla?
So is there anyway to tell if this rally is because of the public's bullish sentiment, or because US gox users are converting their fiat into btc and hence causing a rise in price?

1+1 = 2?

I mean, why not buy coins instead of fiat if there is a lot to be bullish about anyways... My only fear is that if gox news happens to hit bitcoin hard, plus some other negative news (who knows), how much of a dump will occur on exchanges like bitstamp with minimal bid walls.

For now I'm all in though

thoughtfan

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Quote from: needmorecoins on May 17, 2013, 08:11:55 AM

Hmm...nothing's changed with Gox/Dwolla?
So is there anyway to tell if this rally is because of the public's bullish sentiment, or because US gox users are converting their fiat into btc and hence causing a rise in price?

I believe not. People getting excited too because ask side orders are thin on the ground. It could as many appear to believe, be because we're about to hit a nice well-due rise in price. But how would the ask order side look if people were simply moving their bitcoin off gox? Mmm!

needmorecoins

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Hmm...nothing's changed with Gox/Dwolla?
So is there anyway to tell if this rally is because of the public's bullish sentiment, or because US gox users are converting their fiat into btc and hence causing a rise in price?

Coinseeker

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Ah the delusions. Grin

Much easier time dropping to 116 than there is of breaking through 120. Or maybe....we're still in "rally warm-up". LOL!

crumbcake

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Quote from: prof7bit on May 17, 2013, 07:21:51 AM

Quote from: prof7bit on May 17, 2013, 07:18:48 AM

Code:

121.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
120.50 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
120.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
119.50
119.00

118.50
118.00 ▒▒▒
117.50 ▒▒▒▒
117.00 ▒▒▒▒
116.50 ▒▒▒▒▒▒▒▒▒▒
116.00 ▒▒▒▒▒▒▒▒▒▒▒▒

Code:

122.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
121.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
120.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
119.00

118.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒
117.00 ▒▒▒▒
116.00 ▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒▒

I like these charts -- enough data, no migraines & i could picture them on: http://upload.wikimedia.org/wikipedia/commons/thumb/2/23/Vt100-adventure.jpg/220px-Vt100-adventure.jpg

nagnagnag2

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Quote from: prof7bit on May 17, 2013, 06:39:28 AM

My screen does look like this:

Do you want the patch for this?

ineededausername

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bitcoin hundred-aire

Quote from: Hawker on May 17, 2013, 08:06:30 AM

Quote from: prof7bit on May 17, 2013, 07:55:03 AM

Code:

120.10000 33.58015687
120.00000 4523.48032917
119.90000 960.47309392
...snip...

If that pair get dumped we will have a repeat of the dump earlier this week when price fell to $109 from $119. Be very careful buying now...

That dump came because of bad news...

Hawker

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Quote from: prof7bit on May 17, 2013, 07:55:03 AM

Code:

120.10000 33.58015687
120.00000 4523.48032917
119.90000 960.47309392
...snip...

If that pair get dumped we will have a repeat of the dump earlier this week when price fell to $109 from $119. Be very careful buying now...

thoughtfan

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Activity: 784

Merit: 506

Quote from: lebing on May 17, 2013, 03:17:32 AM

Quote from: thoughtfan on May 17, 2013, 03:08:00 AM

However in this instance I think we could see negative repercussions of the Dwolla/mtgox episode rumble on for some time yet.

Its clear that the dwolla mtgox episode will affect the market for some time, but I'm curious what makes you think it will be negative? In the short term, I believe it will push the price up and in the long term provide a new price discovery mechanism (at the moment unknown what exactly that will be) along with much needed diversity on the exchanges.


mtgoxUSD        0.11919918   5,092,881
bitstampUSD     0.11399        774,256
btceUSD         0.109          542,282
cbxUSD          0.10955        124,859

These are the bid prices with volumes.

As dominant as the mtgox market is whilst people used to being able to use Dwolla to get USD in and out can only move money from mtgox in Bitcoin I'm not looking at the current mtgox price as reflective of current supply & demand. I know this thread is about the mtgox walls but the excitement in the last page or so about price 'breakouts' etc. whilst the other exchanges are nowhere near seems short sighted. I'm simply not trusting the price to give me an impression of sentiment.

One of the service providers was talking about the long process of getting both their bitcoin and dollars out of mtgox and with things as they are it is obvious that arbitrage is simply not happening. Of course money off of gox trading by other exchanges or otc etc. is good but for now I don't believe we have an operational 'price discovery mechanism' so I don't know what the price 'should be'. My algorithm, that used by bitpay and mine all come to quite different figures at the moment.

All I'm suggesting is that we don't get carried away by the fact gox is going up right now. The movement might not be telling you what you think it is!

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Miz4r

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Quote from: Miz4r on May 17, 2013, 07:44:48 AM

Quote from: michaelGedi on May 17, 2013, 07:41:43 AM

meanwhile on bitstamp I doubt we're going about 115 for a long time

Yeah we need more buyers on bitstamp.. where are the arbitrage bots when you need them? Tongue

Hmm just as I say this people wake up and start buying like crazy on bitstamp, up to $114.64 now.

keewee

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HerrDoktor

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Bulls and Bears getting ready on the Battlefield. YES !!!

prof7bit

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https://youengine.io/

Code:

120.10000 33.58015687
120.00000 4523.48032917
119.90000 960.47309392
119.70000 1.34000000
119.50000 1.42000000
119.30000 2.84000000
119.20000 2.84000000
118.42152 0.01020000

118.42148 0.01020000
118.40000 7.17892444
118.30000 12.06478520
118.20000 60.85295335
118.10000 148.13102728
118.00000 259.70505141
117.90000 3.12040290
117.80000 13.42360000
117.70000 415.29827963

Jaroslaw

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supernode

Hello pre 120$ Cheesy

oroboras

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CHAAARGEEEE!!!!

samson

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Quote from: billington.mark on May 17, 2013, 07:49:23 AM

looks like people are panic buying back in now the price is on the way up...

I don't see any panic. People have been buying in steadily since the price was about $115.

I suspect the panic buying will really start after we break $120/$121+

I just wonder if it will have enough momentum to push through $125. If it does then we're going to be in for a wild ride, again.

billington.mark

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looks like people are panic buying back in now the price is on the way up...

Miz4r

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Quote from: michaelGedi on May 17, 2013, 07:41:43 AM

meanwhile on bitstamp I doubt we're going about 115 for a long time

Yeah we need more buyers on bitstamp.. where are the arbitrage bots when you need them? Tongue

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