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

[Adrian-x]

Why would that be more fair?  What matters is what 1 unit of currency can buy.  That is not determined by how many units could be printed, not even by how many exist, but by how many are in circulation, and the demand for them.

Speaking of demand, I recall someone claiming that the bulk of bitcoin "commerce" (excluding investment and speculation), right now, is internet gambling.  Is that true?

Inflation you can trust has value. The QE monetary inflation that just locks in previous inflation in asset prices (asset not tracked in the CPI and monetary inflation studies) paints a different picture. Still this inflation is expected to remain lower that Bitcoin until Q3 2016). But ultimately the price deflation in Bitcoin is not a result of economic growth, but reflects the trust in a predictable monetary inflation policy, where asset prices are not manipulated by the central banks, the volatility arguably reflects greed and fear.

[infofront]

[chromosoma]

[billyjoeallen]

This is a very dangerous game. The levered shorts are hoping another China crash will come before they are force liquidated and the levered longs are counting on the shorts getting liquidated before the crash. Smart players like TERA are long but not levered, ready to pull the trigger and profit either way and I'm on the sidelines watching and learning.

The swap fees amount to somewhere around 60% annual interest. The pressure is building and is going to blow one way or the other.

The bear market didn't suddenly end because some exchange decided to invest in ATMs. China isn't suddenly irrelevant. A SUSTAINED reversal isn't something that happens this quickly with no big news. If it happens at all it happens slowly as utility value replaces speculative value.

The question every wise investor asks themselves is "Is time my friend or my enemy?" If time is your enemy, chances are you are on the wrong side of the trade.

[throwaway]

LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS
a) In 2014, price will visit below 100 = 0%
b) In 2014, price will visit below 200 = 0%
c) In 2014, price will visit below 300 = 0%
d) In 2014, price will visit below 400 = Undecided, sir.
e) In 2014, price will visit above 500 = 100%
f) In 2014, price will visit above 750 = 100%
g) In 2014, price will visit above 1000 = 100%
h) In 2014, price will visit above 1250 = 100%
i) In 2014, price will visit above 2000 = 100%
j) In 2014, price will visit above 3000 = 1%
k) In 2014, price will visit above 4000 = 1%
l) In 2014, price will visit above 5000 = 1%
m) In 2014, price will visit above 7000 = 1%
n) In 2014, price will visit above 10000 = 1%
/LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS

[uhoh]

This is a very dangerous game. The levered shorts are hoping another China crash will come before they are force liquidated and the levered longs are counting on the shorts getting liquidated before the crash. Smart players like TERA are long but not levered, ready to pull the trigger and profit either way and I'm on the sidelines watching and learning.

The swap fees amount to somewhere around 60% annual interest. The pressure is building and is going to blow one way or the other.

The bear market didn't suddenly end because some exchange decided to invest in ATMs. China isn't suddenly irrelevant. A SUSTAINED reversal isn't something that happens this quickly with no big news. If it happens at all it happens slowly as utility value replaces speculative value.

The question every wise investor asks themselves is "Is time my friend or my enemy?" If time is your enemy, chances are you are on the wrong side of the trade.

I'm inclined to agree with you, but there has been unexplained reversals in the past (or rather, you find out the news after the run-up, which seems more likely these days with institutional money). Nice volume today though, gonna be an exciting week it seems.

[seldon]

Is it already sleepysleepy time in china?

[uhoh]

Would be nice to hit 475 again tonight. Only 2K to $500

[p0peji]

Will be shorting all the way up to 550$

[chromosoma]

So, is china exiting or not?

[GaliX]

I have to agree, I am uncomfortable at this price somehow.
short is the choice for now.

[Davyd05]

This is a very dangerous game. The levered shorts are hoping another China crash will come before they are force liquidated and the levered longs are counting on the shorts getting liquidated before the crash. Smart players like TERA are long but not levered, ready to pull the trigger and profit either way and I'm on the sidelines watching and learning.

The swap fees amount to somewhere around 60% annual interest. The pressure is building and is going to blow one way or the other.

The bear market didn't suddenly end because some exchange decided to invest in ATMs. China isn't suddenly irrelevant. A SUSTAINED reversal isn't something that happens this quickly with no big news. If it happens at all it happens slowly as utility value replaces speculative value.

The question every wise investor asks themselves is "Is time my friend or my enemy?" If time is your enemy, chances are you are on the wrong side of the trade.

I'm inclined to agree with you, but there has been unexplained reversals in the past (or rather, you find out the news after the run-up, which seems more likely these days with institutional money). Nice volume today though, gonna be an exciting week it seems.

and the idea that there has been plenty of good news and progress buried in the fear of China's policy making methods

[ChartBuddy]

Explanation

[magicmexican]

Poking @dat double top

[cbeast]

Poking @dat double top

It's a Bitcoin ritual.

[KFR]

Is it already sleepysleepy time in china?

https://www.google.co.uk/search?q=time+in+beijing

They've mostly just gone to bed.

[boumalo]

I have to agree, I am uncomfortable at this price somehow.
short is the choice for now.

At this point I am not sure, I wouldn't be surprise to see the price dip again or a spike up higher than 500

[marcelus]

This is a very dangerous game. The levered shorts are hoping another China crash will come before they are force liquidated and the levered longs are counting on the shorts getting liquidated before the crash. Smart players like TERA are long but not levered, ready to pull the trigger and profit either way and I'm on the sidelines watching and learning.

The swap fees amount to somewhere around 60% annual interest. The pressure is building and is going to blow one way or the other.

The bear market didn't suddenly end because some exchange decided to invest in ATMs. China isn't suddenly irrelevant. A SUSTAINED reversal isn't something that happens this quickly with no big news. If it happens at all it happens slowly as utility value replaces speculative value.

The question every wise investor asks themselves is "Is time my friend or my enemy?" If time is your enemy, chances are you are on the wrong side of the trade.

I'm inclined to agree with you, but there has been unexplained reversals in the past (or rather, you find out the news after the run-up, which seems more likely these days with institutional money). Nice volume today though, gonna be an exciting week it seems.

A sustained reversal doesn't require news. It requires the market to decide there's been enough pain.

[Davyd05]

was that short covering on stamP?

[dreamspark]

Is it already sleepysleepy time in china?

Yes early morning in China.