Well, talking about the old timers.
Jesse Livermore said that once you start counting on the market to do something specific that would allow you to buy a new house, etc, like "it would go to 100K in 18 mo", it always bites you in the proverbial ass. In 2017 NOBODY expected 20K when it was still below 1K in march or april, yet it happened.
That's exactly what worries me the most: Having so much hope that Bitcoin will get over the previous ATH sometime in the next couple of years as if it were an almost SURE thing... really scares myself and makes me wonder if I am just being naive/delusional. Also, the amount of hodlers that have plans to sell a significant percentage of their stash during the next bull run seems (maybe I am wrong) to be way bigger than previous times (where there were much less expectations). That alone would require huge liquidity on the buy side just to sustain the price. As long as Bitcoins user growth continues, Bitcoin is mathematically designed to appreciate in value over the long term. That's what the halving is all about. So keep an eye on demand only, because the supply side is sorted. There is however the existing supply that is being saved (hoarded), you also need to keep an eye on that. But, as previous runs have shown this is taken up very easily by increased demand and coins aged over 5 years are unaffected. See link: https://hodlwave.com/ Bitcoin is what is known as a supply restricted market. These types of markets always have large booms and large busts. Think of the property markets that are also supply restricted. Some Californian cities are a good example. Restricted supply of new housing (supply) and high international and national immigration, with loose credit conditions (demand). On the way up everyone holds onto their home because it goes up in value more than the earn, and everyone who doesn't own wants in quick because FOMO for a basic living requirement. These are the new holders. Of course at some point the price just gets too high, fraudulent lending finds no more customers, then price starts to dip. We all know what happens next. Then look at some of the cities in Texas, these don't have large swings in price despite having high population growth (demand). Why? because they build shitloads of housing (supply). Even with the same credit conditions as California these houses don't go ballistic in price. In summary, demand matches supply, all good. Demand outstrips supply, like it always does every 4 years with bitcoin, boom! |
|
|
|
Eyeing off the order book on bitstamp, it seems that the bears are gaining a bit more support. The sell side is growing and will soon balance out the buy side. This will make it easier for the price to go down. Still not even on the buys and sells, but getting there.
I'm hoping we don't have a bart on our hands.
Don't we already know that frequently looking at orderbooks, we frequently see reverse indications, so in that regard if sell orders are stacking up on bitstamp, then frequently the price will move in that direction and if the buyers can buy up all of those coins on the order book, it becomes a kind of free sailing once they get through the stacked up coins on the order books. This is an old play, somac. It's been seen many, many, many times in bitcoinlandia, so in other words, it seems quite dangerous to presume that BTC's price is going down or failing to go up, merely because sell orders are stacking up on various order books whether on bitstamp or other exchanges and even if you see a pattern of sell orders piling up across many exchanges. This is true JJG, but only when the order book is not overly one sided, and when I made my comment it was not overly one sided, but it also had that bart look in the price action and sell orders were growing (still more buys at the time), which is why I mentioned it. However, when the order book is incredibly one sided, from my experience, it is 90% accurate that a turn around happens. Next time there is a dump (or bounce) happening keep an eye on the order book, if it starts to take more then twice as many coins (triple is better) to move the price down then up, very soon you will see a strong bounce. Fantastic thing to trade, but have to do it without stops. |
|
|
|
Seriously, apparently every bull run ever in crypto was done by scammers according to these establishment fuckwits. Same old story every time. God forbid it is actually normal people realizing how fucked up the current system is and then desiring to move their wealth and labor elsewhere. Let me guess if it wasn't for this whale, tether, willy bot, random scapegoat, etc the price of BTC would be zero. Because who would want an asset that is completely separate from that always awesome store of value called government fiat. No one that's who, only scammers and Whales. Everyone dump your bitcoin for fiat, because its current value is only because of 1 whale, not 2, not 3, but 1. Fucking geniuses. |
|
|
|
|
Eyeing off the order book on bitstamp, it seems that the bears are gaining a bit more support. The sell side is growing and will soon balance out the buy side. This will make it easier for the price to go down. Still not even on the buys and sells, but getting there.
I'm hoping we don't have a bart on our hands.
|
|
|
|
|
back to 9000 again. Whenever the price gets down here though the bears side of the order book looks weak as piss, hence why we are getting these bounce back of it. According just to the order book I don't think we'll be down at these levels for much longer.
|
|
|
|
It's funny how so many people try to predict the future price of Bitcoin, when the answer is obvious:
Long-term: UP!
Short-term: Roll a dice!
I just buy when I can, HoDL, and don't look at the short-term price action much. It's the easiest and least stressful strategy that almost guarantees profits. Has served me well.
Also, I have bitterly regretted EVERY single time I could have bought, but didn't... Which confirms the above strategy.
Couldn't agree more. Back in 2013 when I first got into Bitcoin, I did it because it seemed like a good investment. Because it was an investment, I would worry about my buy in price, I always wanted to maximise my profit and of course regretted missing bottoms here and there and wish I allocated more of my investment stash. For the last few years my attitude has completely changed, assisted by the drop in rates by my home country's CB I now view Bitcoin for what it actually is. Not an investment, but as a savings vehicle, I am saving for my retirement and my children's future and I do that not with a savings account, but with Bitcoin. For years the central bank and my government has been destroying my savings through corruption and inflation, not any more, all my excess income now goes straight into bitcoin and will stay there forever. And that's how you do bitcoin people. It's not an investment, it's a savings vehicle. Strong hands forever. |
|
|
|
|
Wow what a day, probably over now though.
|
|
|
|
|
Hash rate at all time highs, price of a bitcoin getting close to production cost, halving in 6 months, world economy going to shit and bitcoin's supply not possible to be manipulated by CB printing, development of the protocol and 2nd layer solutions in full swing, having personally been in the bitcoin market for me than 6 years.
Yeah man, I'm shaking in my fucking boots. Everyone is a whining little prick when the price goes down. The lack of ability to look even 1 year into the future is fucking bizarre.
|
|
|
|
Well we all knew deep down that 7700 wasnt going to hold and when it broke it would get ugly.
I was waiting to see if massive buying (large volume similar to the peak of the mini bubble this summer) occurred once we had a large crash like yesterday, and sadly we didnt get the requisite volume for me to deploy my last fiat stash.
The really strong support is at 6500 so hopefully the Bargain Boyz will step in and load their trucks with massive volume at that level and end this mini bear market inside our bull market that started in Dec. 2018, because this so far has been a dud and the true Bargain Boyz have not arrived yet.
A 6500 dollar bottom would still be extremely bullish as we were in the 3-4k range earlier this year. That is where the true run to 100k starts imo and hopefully it happens sooner than later so we can be done with this mess created by the overzealous parabolic run this summer.
What I find interesting about this drop is the volume it has created on Bakkt. Another thousand down and we will see volumes increase again. Potentially this is when Bakkt starts to pay off. |
|
|
|
 Just to be on-topic for a minute, so no one can say that I never was, I think we're not going much lower for quite a long time, if ever. We may briefly touch $7700 but that's it. I'll even put my name on it.  Quoted   Whoops. Damn, it only took 4 hours for me to be proven wrong. If it pulls back up a couple hundred in the next hour I will continue pretending I was right. better get out there and start buying then |
|
|
|
6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
Cost of production depends on many factors worldwide. Many miners are already working with no profit at this level. Yeah maybe, but they would be miners on the margin. Hash rate is at a high and difficulty hasn't dropped yet so there has been no miner capitulation of note yet. |
|
|
|
|
6500 is apparently cost of production these days, it will be interesting to see what happens if bitcoin gets to those levels.
|
|
|
|
107,848 bitcoin were just transfered for a 0.02 bitcoin fee.
That's $900,000,000 transfered for $166.
No government, bank or third party had to verify the transactions, nor could they have stopped them if they wanted to.
The true power of bitcoin. 🔥 https://twitter.com/Rhythmtrader/status/1183846143442280449Corn is on the move! That is a fuck load of corn. you can never have too much corn. Except the edible kind which is high in carbs.  |
|
|
|
Aryan wannabe - Nazi member r0ach, Editor of the magazine "The Small Penis Society" and founder of "Ilovetosuckdick.com", cannot admit to his Jewish origin & thoroughly mixed bastardized bloodline, but instead trash-posts on WO, busting our balls with dick-less propaganda and whining about the last time a woman talked to him.
Huge strap-on fan. Looks forward to trying the other side of a glory-hole.
hahaha, that's classic roach |
|
|
|
Well that’s nice
That's what I thought till I just looked again. Possibly, we are being played. Jury is still out. Played or not, Bitcoin will fuck them all in the end. |
|
|
|
Well that’s nice
That's what I thought till I just looked again. |
|
|
|
https://www.wsj.com/articles/fed-adds-110-1-billion-to-financial-system-in-latest-transaction-11569505632Another day another 110 billion USD printed in the blink of an eye to prop up banks and the Stock Market at the expense of USD holders. "Thursday’s operations were the ninth and 10th since last week in which the Fed has intervened to calm roiled money markets. Rates on short-term repos briefly spiked to nearly 10% last week as financial companies scrambled for overnight funding." QE 4 is upon us and they are in full crisis mode even though stocks are at an all time high. This is historically unprecedented yet barely a blip in the headlines as Trump consumes the majority of media attention as usual. Yes we are dipping hard and the WO bottom memes to end the carnage have not yet arrived, but when we start mooning again look the fuck out because its about to get crazy and cheap prices like this will never be seen again once we retake 10k. TLDR: Its happening. Your confidence fills me with joy joy feelings |
|
|
|
https://twitter.com/realDonaldTrump/status/1149472282584072192So July 11 Trump crossed the Slayer line and lost my support by bad mouthing Bitcoin. Bitcoin itself put cosmic curse upon him and his demise was only a matter of time. On July 25, just two weeks later, Trump made his fateful call to Ukraines leader and asked for him to investigate Biden, his top political opponent, and used frozen funds as a coercive measure to get his way. Now he is being impeached. How many politicians will have to learn the hard way never to go against Bitcoin. Remember the AG who came at Bitcoin only to be disgraced and resign a short time later for beating and sexually abusing ex girlfriends. Its time to face the fact that Bitcoin is a living hyper-intelligent entity that tears down its enemies one by one though mysterious ways beyond the apprehension of higher primates. Hail King Bitcoin.  Trump is not being impeached yet and even if he does, the senate won't convict, just like it didn't for Bill Clinton so it doesn't matter. I don't care either way here, but I think Democrats have really fucked themselves over with this one, it looks as though they are protecting Biden, and Biden appears to be guilty. Very possible the Democrats will lose votes over this, so this whole impeachment may be very positive for Trump. First the Russians, then the supreme court issues, and now impeachment. Honestly, not a good look if they fail at this one too. But fuck it all anyway, they can't stop BTC so it doesn't matter. |
|
|
|
|
Good to see the bart on the charts. Could be that was the move to clear the longs for the break of the daily triangle that we are stuck in. We need significant break through 10450 for that.
|
|
|
|
|
Show Posts
