Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 34033. (Read 26709084 times)
April 26, 2013, 12:19:21 PM
Going up again
April 26, 2013, 12:05:37 PM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26
Is this only for 0.8.1 or does it take into account earlier versions too?
Here's the data for all: http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/map
China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.
Thanks for that. It's interesting that ~1/3 of all downloads since Bitcoin's launch happened this year alone.
April 26, 2013, 11:52:13 AM
April 26, 2013, 11:50:59 AM
China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.
Are you sure this is a bullish sign? What happens when Chinese government block bitcoin client communications with the Great Chinese Firewall? Are you sure what bitcoin network will be able to stand that level of network split?
Not even Tor does.
April 26, 2013, 11:41:28 AM
China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.
Are you sure this is a bullish sign? What happens when Chinese government block bitcoin client communications with the Great Chinese Firewall? Are you sure what bitcoin network will be able to stand that level of network split?
April 26, 2013, 11:24:45 AM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26
Is this only for 0.8.1 or does it take into account earlier versions too?
Here's the data for all: http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/map
China isnt #1 there, but still quite strong. It could be that at some point in the quite near future the west might not be leading the charge in terms of adoption.
April 26, 2013, 11:18:45 AM
Another pathetic wall at 132$ trying to defent price will colapse any second...
that "pathetic wall" is getting less and less pathetic every min.
it's unclear what will happen this weekend.
i vote painfully slow slide down.
i dont think the bulls have a choice but to retreat to 120... it can't go straight up crash hard and just keep going straight up again ... can it
lol we'll see
April 26, 2013, 11:13:49 AM
Another pathetic wall at 132$ trying to defent price will colapse any second...
April 26, 2013, 11:13:45 AM
Most people have herd about bitcoins now.
Dead wrong. You know there are 7 billion people on Earth right?
Maybe: "Most people who have money to invest in risky ventures have heard about bitcoins by now."
April 26, 2013, 10:14:43 AM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26
Is this only for 0.8.1 or does it take into account earlier versions too?
April 26, 2013, 10:11:47 AM
So, what are the expectations for the weekend guys? Based on past weekends I'd say that it will stay around $130-$140 without much happening at all. Weekends are kinda boring actually. 
That's pretty much my guess. Most of the action will be in how the bids and asks fill in. Support at $120 is getting stronger each time I look
April 26, 2013, 10:08:53 AM
So, what are the expectations for the weekend guys? Based on past weekends I'd say that it will stay around $130-$140 without much happening at all. Weekends are kinda boring actually.
April 26, 2013, 10:00:20 AM
There's more than 1500 coins in asks in 1 dollar range from current marketplace and nobody's biting for some time.
April 26, 2013, 09:59:14 AM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
There are many fundamental reasons why it's shooting up. It started with Reddit & Wordpress and most recently its the fact that China has taken the lead in bitcoin-qt downloads. http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.1/bitcoin-0.8.1-win32-setup.exe/stats/map?dates=2013-04-20+to+2013-04-26
April 26, 2013, 09:49:04 AM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
What about all the merchants; isn't that one of the main goals for bitcoin? I've seen more new merchants accepting in the past week than ever.
April 26, 2013, 09:47:36 AM
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
The outlook of a more robust and more professional exchange is exactly what makes bitcoins even now undervalued in my opinion. Everyone knows what will happen once these exchanges hit the market, so you better prepare now for it and not wait until the price shoots up drastically with some real investors joining the market.
April 26, 2013, 09:40:48 AM
1. Everything fundamental is growing stronger each day.
What exactly has happened to make the fundamentals stronger? People don't care about DDos as much as they used to anymore, but even then the last time Mt got Ddos'ed for more than an hour the price shot down - and then quickly up.
Exchanges are really weak at this point. 4 of them have been shut in one week because banks closed their accounts. What happens if mt's account is closed? We go from 137 to 5.
Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.
Moreover, the press attention reaches a saturation point. Most people have herd about bitcoins now. Most certainly everyone that works in finance has herd about them but even your mom and dad has herd about them with bitcoins having been mentioned in the news all over. Whoever has wanted to buy has done so or will finish doing so this month or next.
Institutional investors might think of getting on board, but stocks give good returns, are certain to be worth at least half their price and are safe for the investment manager to invest in. On the other hand, bitcoins is of the highest risk, the price has no stability so the investment would need to be actively managed which is quite expensive and the market is quite small for big money so it is even more difficult to buy the thing which is quite a big consideration considering how difficult it is to buy even for the avarage joe.
For these reasons, unless we get some big good news, the bear has killed the cat.
That said though, we got this mini crash probably because of all the recent problems with Silk Road. By Monday we might be racing to 200 again.
April 26, 2013, 09:33:23 AM
Quote
My point is way more fun than holding fiat, that's for sure
Who said I'm holding my bloody fiat, lol. Have you read my posts at all?
I'm holding fiat when I, and I'll repeat it when I, think it's the best thing to do. I might and have been wrong many times but I'm taking full responsibility for that as it's my money, not anyone's else.
As soon as I feel, and I repeat when I feel, that it's better to hold coins, I hold them.
And neither of those tow means holding as putting it when sun doesn't shine, it can mean I'm holding any of them for hour, two, 5, day, two or 5 until I feel it's better to hold other one.
"My body is ready, because it told me it is ready"
April 26, 2013, 09:32:09 AM
Quote
My point is way more fun than holding fiat, that's for sure
Who said I'm holding my bloody fiat, lol. Have you read my posts at all?
I'm holding fiat when I, and I'll repeat it when I, think it's the best thing to do. I might and have been wrong many times but I'm taking full responsibility for that as it's my money, not anyone's else. And it's Me who is going to do things with it, not anyones else wishes. I'm perfectly ready to research stuff and take advice from people I believe are worthy of that but on the end it's Me who is making decisions, nobody else.
As soon as I feel, and I repeat when I feel, that it's better to hold coins, I hold them.
And neither of those tow means holding as putting it when sun doesn't shine, it can mean I'm holding any of them for hour, two, 5, day, two or 5 until I feel it's better to hold other one.
April 26, 2013, 09:27:20 AM
I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.
This is the main problem with people in the bitcoin world. You trust fiat more? you certainly know that bitcoin can either go to $50 or go to $200 in a day, you just need to be patient and buy/sell at the right times. With fiat, well.. you have fiat, that's as fun as watching paint dry and by that I mean, slowly but surely that inflation is eating it up..
Yes, I trust fiat more at this moment. I've trusted bitcoins more for days before yesterday. I'm not investor, I'm trader and I'm not going to look my coins dipping to be worth 15/20/30 dollars less without selling and trying to buy more and have them more if I feel that's what I should do.
I don't care what anyone thinks about it, as long as volatility is as it is I'm not hoarding my coins, specially as I don't have enough of them to just wait to become rich
at some time.So, you do your stuff, I'll do mine. I'm not here to help your mined or cheaply bought coins being worth more, I know that's what early adopters want from people but I couldn't care less about their coins and what they want
, I'm here to make what's best for me If I lose all I've invested in btc, I won't lose a sleep, I've never invested more than I can forget. My point is it doesn't matter when you buy, you can buy BTC now at 135 and if it goes down, you might have to wait longer to sell, but eventually, you'll sell at a profit. Sure, you can wait and buy when it dips, then you will have to wait until it goes up again to sell, if it ever does go up... so it's a matter of timing, that's all
With fiat... you just have fiat...
Your point has serious problem - I was late yesterday to buy at 121 at first crash, if I had put my order 10-15 seconds before, I could make hundreds of dollars in 2 minutes. Then again do it 2-3 times til today in some longer periods. I did bought them in low 120s again and sold in 130s but I've missed 2 earlier opportunities - one because I was late, 2nd because I was not in the state to rationally try to analyze the market so I just decided to miss it.
Your point completely takes those possible profits out and suggests I should buy now at 136, eventually sleep through it's dipping to 120 and wait if it goes up above my entry point to make some profit. It's not only pretty nonsense system, it's boring too, I'd rather sell socks on the street
I'm here to grow my small group of coins or lose them all. I don't care what price of btc would be in 5 years if I have them as many as I do now.
My point is way more fun than holding fiat, that's for sure. Yesterday if you bought at 130 (I'm just calling the somewhat average for yesterday since it went to 122 and it was at 150 earlier on the day, you had plenty of chances to make money, if you didn't then you're not a good trader.
No one can call the absolute top or bottom, I sold at 147 and I bought at 135, yes, I could have bought at 122, but who knows how low is going or how high? no one really knows.
your strategy of holding fiat, sure, I respect it, it's just seem so dull and boring... I keep my amount of bitcoins consistent and I buy/sell on dips and I use the leftover fiat as winnings I don't buy more bitcoins because I already have the amount I want. But I keep my coins and I just use fiat to withdraw. Again, I'm not a trader, but when there are obvious opportunities to trade I'd do it.
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