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

[Omikifuse]

Are we hitting a triple bottom? 

Only if you believe we aren't going down even more.

DO you believe?

[smracer]

Are we hitting a triple bottom? 

333. triple bottom!

Bitstamp order book is starting to look like a tidal wave forming.

[N12]

About double and triple bottoms, and generally any patterns and signals in technical analysis:

It makes no sense to anticipate patterns and signals before they actually form. The only point of that is for letting your Hopium (don't smoke that shit, it really is bad for you) run wild and your fantasies roam free. For a double bottom, that would be rising above the highest point in between the two double bottoms. At that point, it'd be confirmed.

Triple bottoms especially are such a rare pattern that you should always bet that the second bottom will be pierced if the price gets near it again.

care to explain how someone can do stupid things regardless of what happens next?

I cannot believe you do not understand this: It is stupid to increase your slippage cost, reduce your execution chances and increase your counter-party exposure by selling only on one single exchange. It does not matter what followed after. And in his case, the price actually rose for months afterwards, and he sold at the bottom in both the short and medium time frames. Had he had a modicum of sense execution wise and technicals wise, he'd have done much better.

Also, I don't believe he has another 30k because the way he sold showed that he was in a rush, for whatever reason. I'm sure you agree.

[N12]

Meanwhile, getting nearer to 1 billion market cap.

😈

[podyx]

Really looks like that bitcoin failed as an experiment

[JorgeStolfi]

This maybe is a real good news.
Huobi reopens the bank dire transfer tonight.

Link ??

Maybe here: (Translation anybody?)

https://www.huobi.com/deposit/index.php?a=cny_deposit
http://www.reddit.com/r/Bitcoin/comments/2phb6x/this_should_not_be_ignored_huobi_reopens_the_bank/

On their homepage I still see only the same option as always (the "top-up card")
https://www.huobi.com/
I see no announcement (usually important news are in the "red bulb" link below the header gif).

If it is true, there may be a rally.

[tarmi]

care to explain how someone can do stupid things regardless of what happens next?

I cannot believe you do not understand this: It is stupid to increase your slippage cost, reduce your execution chances and increase your counter-party exposure by selling only on one single exchange. It does not matter what followed after. And in his case, the price actually rose for months afterwards, and he sold at the bottom. Had he had a modicum of sense execution wise and technicals wise, he'd have done much better.

Also, I don't believe he has another 30k because the way he sold showed that he was in a rush, for whatever reason. I'm sure you agree.

you didnt answer my question really and again you are questioning his trading methods.

you said that he was stupid to sell regardless of what happens next and I am asking to you what happens if price crashes to 100 $ levels?

[podyx]

Where can I buy ripple? I think it's shit but a centralized currency might eventually take over.

IMO bitcoin has too many wallets, too many programs for it so the average joe gets confused as to which one to use. It's better if he's just getting told "use this, do that" and everybody use the same thing

Do you want to buy with BTC?  

Either way, you will want to start a new account at ripple.com

I use SnapSwap with USD.  You can do an instant deposit within seconds through 13 major banks.

The total number of supported banks is now thirteen. The initial list of supported banks included Wells Fargo, Bank of America, Capital One, Capital One 360, TD Bank, US Bank, PNC, Chase, Citibank.

http://blog.snapswap.vc/2014/11/four-more-banks-are-available-for.html


For Btc, create a wallet in ripple and below is a little tutorial on creating a new bitcoin address inside your ripple wallet to transfer btc to it.

www.btc2ripple.com

https://xrptalk.org/topic/4547-getting-from-btc2ripplecom-to-rippletrade/?hl=btc2ripple

Thanks, i'm not sure if i will buy yet though

What one could do is go sell of all their bitcoin stash for ripple if ripple was to go up to 2.5 billion and bitcoin down to 2.5 bio and it was obvious that ripple was taking over. That way you won't lose any potential profits.

[NotLambchop]

...Those terms are for suckers who think the market is ruled by people more wealthy than them...

>wealthy people rule market
>people

Good one, human.  



  ~Your Beneficent Reptilian Overlords

[podyx]

Where can I buy ripple? I think it's shit but a centralized currency might eventually take over.

IMO bitcoin has too many wallets, too many programs for it so the average joe gets confused as to which one to use. It's better if he's just getting told "use this, do that" and everybody use the same thing

When the bitcoin infrastructure matures some clients will float above the rest and that's what average joe will use.

Hopefully..

[adamstgBit]

Meanwhile, getting nearer to 1 billion market cap.

😈

Really looks like that bitcoin failed as an experiment

...
what happens if price crashes to 100 $ levels?

[macsga]

Are we hitting a triple bottom? 

333. triple bottom!

It's OFFICIAL!

THIS IS GENTLEMEN!!!!!1

[redsn0w]

This time I've voted for : crash down and make a new all time recent low .


In this circumstance it can happen more easily ....

[N12]

Really looks like that bitcoin failed as an experiment

For people like you who leverage 20x and take loans to buy BTC chasing their Hopium? Yes. For investors and traders, not so much IMO.

If you want a casino, you should go to an actual casino, or maybe try Ripple I guess.

care to explain how someone can do stupid things regardless of what happens next?

I cannot believe you do not understand this: It is stupid to increase your slippage cost, reduce your execution chances and increase your counter-party exposure by selling only on one single exchange. It does not matter what followed after. And in his case, the price actually rose for months afterwards, and he sold at the bottom. Had he had a modicum of sense execution wise and technicals wise, he'd have done much better.

Also, I don't believe he has another 30k because the way he sold showed that he was in a rush, for whatever reason. I'm sure you agree.

you didnt answer my question really and again are questioning his trading methods.

but you said that he was stupid to sell regardless of what happens next and I am asking to you what happens if price crashes to sub 100?

But I am questioning his execution (methods) primarily. He was unsophisticated on that front. Thus, I infer from his trading inexperience that the most likely reason for his rush was just panic. And of course when you act on emotional signals, you have a good chance of picking a bad time to sell, like he did. If the price goes double digits, it'll still have been bad execution and bad timing at that point in time. Maybe you disagree. Then I agree to disagree.

[aliro38]

Not a single word about LTC, how it's going down and how apparently it wants to take BTC with it?
Seriously now, is was just me expecting a decoupling from LTC and some transients along?

[cloverme]

Happens every time there is good news about bitcoin, microsoft and time accept bitcoin, the price drops. Go figure 

[JorgeStolfi]

However, the available BTC on the sidelines may jump in and that would require up to 91.7k+335k BTC = 640M USD.

Now, I don’t have data for finex, okcoin, btce and other exchanges but they surely would add quite something to that amount.
Also, I’m not sure if I recall correctly that someone posted the stamp wallet a couple of times since May and it was at around 260k then it grew close to 300k. That would require revising the above figures upwards.

Maybe someone will take it from here but I don’t think 100M USD will do anything visible to the price. Remember that finex has more than 22M in longs and it seems that it couldn’t even stop the downtrend let alone to increase the price even so slightly. So, to get a 4-5x increase in price I suspect we need on the order of 1B USD or more. Yes, there will be a rush in of fresh money but also a rush in of old coins too…
Good part is I think it is still doable of having 100k newcomers each bringing in a fresh 10K USD (in average).

Thanks. An input of 1 G$ is obviously less likely than 100 M$, but still way less than the 600 G$ estimated earlier from the total coins.   Not impossible, I woudl think.

By the way, the market cap is not very relevant for bitcoin because the vast majority of the coins was bought at such low price, and if they were to be sold the price might crash to single digits again.  It would be more interesting to estimate the amount V of USD that people invested buying the 113.6 M existing coins.  

An estimate of V would be the sum of the bitcoins in each unspent transaction output (UTXO) in the blockchain, times the USD/BTC price on the date of that transaction.  Thus, for example Satoshi's million bitcoins would count as a few dollars, rather than ~300 M dollars.  Anyone would care to compute that?  That number would be only a rough estimate of V, more likely on the high side, since the last transaction for some UTXO may not have been a sale.

[N12]

Hopefully now people will come to understand that this sort of "adoption" doesn't mean shit to create demand for BTC. It actually makes it worse by having Bitpay and Coinbase increase BTC sells.

Next time, listen to FUD (Facts U Dislike), not Hopium.

[Eddie Brock]

http://oi62.tinypic.com/2mnermr.jpg

apology for poor english

when were you when our reptilian overlords take over?

I was sat at home watching antonopoulos interview when satoshi ring

'bitcoin is kill'

'no'

and you?

[findftp]

I so much like it.
The market moves exactly as I predicted.
Too bad I did not short all my coins, but hey, even a bear can be afraid.

We can do it. Break that mofo 330!!