Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 34104. (Read 26611106 times)
April 17, 2013, 07:51:40 AM
Good game, bears. 144k BTC to $50 now, more than ever. You should just move your asks up to $200 now and spare us the trouble because that's where we're going.
April 17, 2013, 07:28:04 AM
Quote from: nameless888
Just remember : it doesn't matter how many manipulators out there try to crash this, it only fails if we collectively decide to give up on it. If we keep our faith in it and enough of the currency ends up in stable hands, it means less available for people trying to end it.
Quote from: zvs
What, you think it was worth $250?
w/o the ability to short, there is a key moderating factor for these BS spikes missing
w/o the ability to short, there is a key moderating factor for these BS spikes missing
Quote from: nameless888
I'm new to this and can't even off the top of my head work out what your post means. (thanks if you can explain a bit though.) I'm just certain that there's groups out there trying to cause problems, and I don't think the currency should naturally be this volatile.
Eh, patching this together from old thread.
It means that if there was a reputable exchange (MtGox, Bitfloor, Bitstamp come to mind) that offered the ability to short Bitcoins then there would be a lot more sell pressure on these huge spike ups. Shorting would essentially be you borrowing bitcoins from the exchange in hopes that they would drop in price. So then if everything went well, you'd 'cover' your position (buy back the borrowed bitcoins) at a much lower price. If they dropped from $100 to $50, you'd make $50 (minus commission fees) for each bitcoin you borrowed. If you had $1000 in your account and shorted 200 bitcoins at $100 and they went up to $105 (these numbers for simplicity's sake), then the exchange would forcibly cover your position, so that you'd be damn near $0 and they wouldn't lose any money on the deal... that is, if it was working properly and not lagged 10 minutes behind... in such a case, all sorts of shenanigans could ensue w/ how volatile the bitcoin price is.
(well, there's also the short squeeze. i guess on some bizarre spike to $250 that takes place over such a short period, it might cause it to go even higher)
April 17, 2013, 07:21:53 AM
So today was supposed to be the day Gox switched the system and would only allow bids if the wallets were funded. Do we have any confirmation that this change has happened? How will we know?
I think unfunded orders are not visible in the order book / depth charts... We could simply give it a try, though.
April 17, 2013, 06:56:05 AM
Best dead cat bounce ever. 
I am a bull but if we don't touch 100 $ until friday
I still consider this a dead cat bounce
April 17, 2013, 06:15:59 AM
Watching closely.
April 17, 2013, 06:06:11 AM
Best dead cat bounce ever.
April 17, 2013, 06:06:03 AM
So today was supposed to be the day Gox switched the system and would only allow bids if the wallets were funded. Do we have any confirmation that this change has happened? How will we know?
April 17, 2013, 05:57:15 AM
And record levels of fiat on the orderbook
April 17, 2013, 05:50:21 AM
Just thought I'd add this one. Apart from the week total volume trades mentioned above I would not have guessed without looking that every single day for the last seven was pink! However I'd be impressed if the bears managed to turn today pink too.
It was an awful sight indeed!
Happy about green, happy about the first warm sunny days here, my "long" on bitfinex is green too, life is good! :-)
Ente
April 17, 2013, 05:29:23 AM
Just thought I'd add this one. Apart from the week total volume trades mentioned above I would not have guessed without looking that every single day for the last seven was pink! However I'd be impressed if the bears managed to turn today pink too.
April 17, 2013, 05:19:21 AM
First green box
April 17, 2013, 05:00:34 AM
I think someone will dump at this price, but I'm okay with that. Lets stay in the $60-80 area for awhile and I can be happy.
April 17, 2013, 04:53:10 AM
Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266 
But rising quickly!
~30 seconds lag on gox
April 17, 2013, 04:41:54 AM
Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266
But rising quickly!
April 17, 2013, 04:37:20 AM
Bid sum has just easily reached the pre-crash value. But this time, the price is $85/BTC instead of $266
April 17, 2013, 04:18:58 AM
April 17, 2013, 04:17:38 AM
Can it be possible that there are still alot of new buyers coming in but we haven't seen a significant price rise because there are alot of people still dumping BTCs? And if they stop dumping because they see the price stabilizing that we will quickly come up near pre-crash numbers?
April 17, 2013, 04:11:30 AM
According to Clark Moody a total of 2M BTC has been traded this week. The previous record was below 1M so this is certainly significant and could be an ATH which might hold for a very long time, if not forever.
On reddit there was an interesting analysis: http://www.reddit.com/r/Bitcoin/comments/1chtbu/highest_gox_trade_volume_ever_was_yesterday_april/
On reddit there was an interesting analysis: http://www.reddit.com/r/Bitcoin/comments/1chtbu/highest_gox_trade_volume_ever_was_yesterday_april/
April 17, 2013, 03:56:19 AM
Quite a lot of buying going on. And the wall at $70 has doubled. Looks like there's going to be a lot of people left behind if this keep up
April 17, 2013, 03:53:30 AM
7k buy pushing to $80. then wall eaten in one large 1.5k bite. some more of that and i believe the upper trendchannel might get broken?
Jump to: