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

[dakota neat]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because the bubble hasn't fully deflated yet?

Huh? Check the charts we're bottoming out already.

[octaft]

Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?

Haha, you funny man. Go SJW elsewhere please.

You do realize the only people who use that term are self-conscious boys who need to belittle women (and more confident men) to make themselves feel better, right?

[adamstgBit]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because the bubble hasn't fully deflated yet?

Huh? Check the charts we're bottoming out already.

are we bottoming or is the bear bubble about to pop?

[NotLambchop]

Back in January/February that article would cause 300$ pump 

They missed the target because of an one year irrational bear market. People lost money with bitcoin so why should they be willing to spend on some random stuff they don't need?

Conversely, if BTC rallied instead of tanking, why should people be willing to spend their golden ticket on "random stuff they don't need?"

[macsga]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because the bubble hasn't fully deflated yet?

Huh? Check the charts we're bottoming out already.

are we bottoming or is the bear bubble about to pop?

YES!!!!1 bottoming!!!!!!!!!

[adamstgBit]

Back in January/February that article would cause 300$ pump 

They missed the target because of an one year irrational bear market. People lost money with bitcoin so why should they be willing to spend on some random stuff they don't need?

Conversely, if BTC rallied instead of tanking, why should people be willing to spend their golden ticket on "random stuff they don't need?"

thats what the ticket is for tho...

[N12]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because Microsoft is selling BTC via Bitpay.

[silverfuture]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because the bubble hasn't fully deflated yet?

Huh? Check the charts we're bottoming out already.

are we bottoming or is the bear bubble about to pop?

YES!!!!1 bottoming!!!!!!!!!

YES!!!!BEAR BUBBLE POPPING!!!!!!!!

[NotLambchop]

...
thats what the ticket is for tho...

Yeah, I get it, but why not use it while BTC's tanking?

[adamstgBit]

Why would anyone dump just after the MS announcement and right before the money hits the exchanges?

Because the bubble hasn't fully deflated yet?

Huh? Check the charts we're bottoming out already.

are we bottoming or is the bear bubble about to pop?

YES!!!!1 bottoming!!!!!!!!!

YES!!!!BEAR BUBBLE POPPING!!!!!!!!

[inca]

You could be right Blitz. They may be your coins of course. In a market this thin the moves may come down to a single trader making such a short term decision.

Of course long term the utility, visibility and legitimacy of bitcoin is soaring into the stratosphere. Eventually fundamentals will drag the exchange price up kicking and screaming.

[truetalkci]

You could be right Blitz. They may be your coins of course. In a market this thin the moves may come down to a single trader making such a short term decision.

Of course long term the utility, visibility and legitimacy of bitcoin is soaring into the stratosphere. Eventually fundamentals will drag the exchange price up kicking and screaming.

Microsoft does NOT accept Bitcoin! Price downtrend continues
Still a downtrend for long term

[Tzupy]

This dump started on Bitstamp, not in China, so maybe Chinese traders think this announcement was bullish.

Oddly enough, Huobi is very bearish on the orderbook. Already 5K BTC to reach the 24 hour high of 2183! Thats bad.

Remember that OKCoin/BTCChina orderbooks are mostly bogus. Huobi is not, at least not to the same degree.

I wasnt very convinced this drop was a big deal until seeing that steep mountain of asks on Huobi TBH.

On Bitstamp the dumps came mostly from asks that were added the last 2 days but probably gave up waiting for a pump. Let's see if Huobi follows the same pattern...

[inca]

You could be right Blitz. They may be your coins of course. In a market this thin the moves may come down to a single trader making such a short term decision.

Of course long term the utility, visibility and legitimacy of bitcoin is soaring into the stratosphere. Eventually fundamentals will drag the exchange price up kicking and screaming.

Microsoft does NOT accept Bitcoin! Price downtrend continues
Still a downtrend for long term

Falllling, stick to the troll threads please.

Edit: welcome to ignore.

[adamstgBit]

...
thats what the ticket is for tho...

Yeah, I get it, but why not use it while BTC's tanking?

why not buy a Virgin Galactic space plane ticket and jump off mid flight because you're afraid it might crash and burn.

why not!

[Richy_T]

Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?

Haha, you funny man. Go SJW elsewhere please.

You do realize the only people who use that term are self-conscious boys who need to belittle women (and more confident men) to make themselves feel better, right?

Nice try. That's the second time you've slung insults around in some misguided attempt to make a point. You need to work on your debating style.

[NotLambchop]

...
thats what the ticket is for tho...

Yeah, I get it, but why not use it while BTC's tanking?

why not buy a Virgin Galactic space plane ticket and jump off mid flight because you're afraid it might crash and burn.

why not!

So you're saying people won't buy anything with BTC until price hits $1 million per coin because destination moon?  I guess merchant integration is pretty pointless

[aliro38]

I don't get it?!
That's marketcap. Nothing more, nothing less.  
See here: http://www.investopedia.com/articles/basics/03/031703.asp or here http://en.wikipedia.org/wiki/Market_capitalization if you're not familiar with it.

Edited to fully respond to the above:  Sorry, but it was simply not implied anywhere that "all 13.6 million bitcoins are traded daily on the exchange".

1. The bitcoins traded for fiat are what determines the price. 2.When the market cap of Bitcoin went from $1 billion to $5 billion do you honestly believe that $4 billion worth of money flowed into Bitcoin? 3.Or was it perhaps a small percentage of the coins on the exchanges that were purchases raising the price?

On points that I've added to your post for clarity:

1. Yes, that's market price. However, judging by the last 12 months charts and by the very last auction it seems that market value is still bellow (possibly significantly bellow) market price, isn't it? In other words, market is not in a state of equilibrium. http://en.wikipedia.org/wiki/Economic_equilibrium
Please note that apparent stable price (apparent price consolidation) has very little to do with equilibrium.

2. A year ago market cap was almost $14 billion. Did $14 billion flow into Bitcoin? Clearly not. Do market participants believe $14 billion will flow into it? Maybe, maybe not but as we speak it seems not many believe it will do so in the near future. So to respond: no, those 4 billion did not flow into bitcoin at that time but some of the money did flow and that was enough (in terms of amount and flow rate) for many market participants to believe/anticipate/speculate that the rest of the money will flow into, in a reasonable amount of time. We are not far from finding out if their belief was justified or not...

3. Artificial scarcity and low market depth on exchanges can only manipulate the price that much. No, that's not the driving factor. On contrary, why do you think the big stakeholders didn't distribute part of their shares so as to help the ecosystem? Please don't tell me it's because of greed because I won't buy it. Well, so perhaps because they couldn't sell? What's sad imho is that if they can't do it very soon, considering there are a max of 650.000 wallets (possibly only 2-300.000 active bitcoiners as per the excellent recent analysis of Jorge Stolfi) after about 5 years, bitcoin won't have any chance to catch up with mass adoption. We are already lagging well behind the historical growth of mobile phones http://addictivelists.com/top-10-countries-with-most-cell-phone-users-in-2014/ but remember those were back in the 1985. We should have a growth comparable with internet, FB etc. Practically mass adoption is pretty much busted imho and only a strong move followed by a hyper-exponential growth in no. of users can bring us back on track. What strong move? Huge collapse of price & major coin distribution...  toward hoards of new users bringing in yet more people and their fresh money... A huge reset of that kind  is much needed. Each passing day without that happening is exactly the opposite of success but mere a slow move toward fading-out.  That's my view. I don't think bitcoin will die but if it remains a niche product for 5-10-50-100 millions users will be much like failing when compared to it's potential...

To understand my rationale, I've used the equation of enterprise value http://en.wikipedia.org/wiki/Enterprise_value together with some simplifying assumptions there. (Bitcoin ecosystem is an enterprise, albeit a very unusual one). On major assumption I've made is the enterprise value of bitcoin is growing and will continue to grow (albeit slowly imho). I don't have the proof it is true but I believe you'll accept it. Anyway, throw some figures at it and hopefully you'll agree that at equilibrium a heck of a lot of money will be needed to go from 350 to anything above 2-3k.

[octaft]

Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?

Haha, you funny man. Go SJW elsewhere please.

You do realize the only people who use that term are self-conscious boys who need to belittle women (and more confident men) to make themselves feel better, right?

Nice try. That's the second time you've slung insults around in some misguided attempt to make a point. You need to work on your debating style.

It's the only type of people I've known to use the term. If what I said offends you, perhaps the shoe fits more than you'd care to admit?

[Tzupy]

Be careful when clicking on links these days:
http://arstechnica.com/security/2014/12/some-100000-or-more-wordpress-sites-infected-by-mysterious-malware/