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Slides and ramps. Barts with lower lows. Grind your teeth, gentlemen, and hold tight.
Note: I have trouble spelling "hold", in all contexts. I'm afraid I'll give away a big clue to some keen observer one fine day.
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All we need is a little patience. Honey badger doesn't want his balls stepped over. Just forget about the price for a while. My medium-term SOMA prediction for today is we'll have to grind our teeth until the end of September. Futures and stuff. But the end of 2018 will be nice, very nice. Because reasons.
Of course, SOMA predictions can change any minute! It's like a medium term weather forecast, only much more fun.
SOMA Predictions(TM) - Don't listen to them, for ANY reason! Almost always wrong, almost all the time!
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Oh I don't know dude, how about a medium of exchange?
Some days I wonder if "store of value" is what I signed up for when I started working with Bitcoin. The idea at the time was to be able to collect payments and buy stuff using something other than Paypal and dollars.
Now.... Still use it for that, but it's more complicated.
Get out of here (notice the absence of an expletive) Please don't lose the expletives! |
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Pain and doom in the land of Alt has bought out all the worst shills and trolls ... they hate us cause they ain't us.
ETH is the biggest nothingness in crypto and will go back to what it is worth ... about nothing. Not one of these alts has a use case that bitcoin cannot do natively, with sidechains or other second layers ... maybe namecoin.
One of my friends is a computer guy and understands what crypto is all about. He was an Ethereum enthusiast. It wasn't the financials that excited him, but the idea of DAPPs and the concept of Turing completeness. I replied that Turing completeness baked into the chain is a recipe for disaster, or at least a liability. However, this line of reasoning never scored a point with him. He'd heard about the DAO, but not the last chapter. I told him the end of that story. His first actual crypto purchase was a bit later, and he's a bitcoin hodler now. As in bitcoin only. |
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Just a little perspective. Feels like lift off. Everybody hand me your pants. No time to explain...
It was one year ago. Bitcoin was around $5k. That's nearly 40% year over year. |
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No sideways after all. A small Bart at least, so we wouldn't feel alone.
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I am playing around with Google Trends data of "Bitcoin" as a search term v Bitcoin price. I used the daily values for each for 2018, converted to a percentage. Start date is 1 January 2018, end date is 5 September 2018. Price is orange, trend data is green.  So, "absolute" is the number of bitcoin queries as a fraction of global Google use? Hmm. I can't spot any pattern. Can you? It would be nice to have the day scale in months/weeks rather than absolute numbers, with a few markers to put things into historical perspective. The first peak in searches seems to anticipate the price. After that first event, the curves seem mostly uncorrelated. Maybe if we REALLY search Google a lot we could...? I was of the opinion that google searches follow price (like in the FOMO period) rather than leading price.. in other words a lagging indicator. I think where I am going with this is confirmation of a price trend. If google searches don't follow an upwards price trend, then the price trend is suspect. I see your point, JJG and Hairy. It makes sense. But I can see such a confirmation only after the second spike - not the first. This doesn't make as much sense, does it? |
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I am playing around with Google Trends data of "Bitcoin" as a search term v Bitcoin price. I used the daily values for each for 2018, converted to a percentage. Start date is 1 January 2018, end date is 5 September 2018. Price is orange, trend data is green. So, "absolute" is the number of bitcoin queries as a fraction of global Google use? Hmm. I can't spot any pattern. Can you? It would be nice to have the day scale in months/weeks rather than absolute numbers, with a few markers to put things into historical perspective. The first peak in searches seems to anticipate the price. After that first event, the curves seem mostly uncorrelated. Maybe if we REALLY search Google a lot we could...? |
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No one is poking her with any stick, it seems.
A sideways weekend for a change?
Wait and see.
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 Unpleasant reality)Just a picture. How funny! Really original and subtle. And the discussion! The supporting arguments! What an invaluable contribution to this thread. We have so few posts, we really needed that. Thank you! NOT!
You ain't gonna make many friends here, man. (Strongly inspired by JJG for the "NOT" pattern. Credit where it's due.) |
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Totally spitballing here, but this sort of resembles September 2015, right before we doubled by November.
Just spit-balling here.... What do people here think drives the price of BTC (either direction) the most? 1. Adoption 2. Use methods 3. Scarcity 4. Technology 5. News 6. Rumors 7. This thread 8. Whales And which are the most predictable events or follow a pattern? And if we could conclude one of these is the actuality, does the above statement ring true? Scarcity (long term) News (short term) Whales (short-medium term) and Human psychology (always) as infofront said, since all 8 sources except scarcity can be traced back to it, ultimately. |
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This Just been served but menu is Just everything you read e and bob This evening iT had to be a little special cause i want my girl to come back To me  LOL Oh, I see, it's a set menu, multiple courses! My guess was based on wrong assumptions. Turbot and mussels is what I'd eat with a Sauvignon (as opposed to tunafish & watermelon). So you'll be served a Burgundy or something with your beef. Looks like a substantial meal. My regards to the lady. I'm sure she'll come back ;-) |
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I am totally looking at that ... menu  via Imgflip Meme GeneratorCan you make something out of iT....?? Coming with matching wines offcourse First sauvignon is served as we speak I think you chose turbot and mussels w/fennel? |
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Well well, a sudden 125$ dive, some sideways, a $125 cliff up. Someone is having lots of fun.
This LeaningLisaSimpson(TM) pattern triggered a take profit limit on my short. After the price went back up, I reopened it a little lower (and smaller) than before.
One of these days, one of these shorts is going to get burned, I know. What matters is: how much will I lose? Not all of the profit, for sure. Besides, I've got a longer-term long position sitting there, waiting for the end of the tunnel.
I am no trader. Just a hodler with a twist. Don't follow my advice. More than anything, don't believe my SOMA predictions. They are Almost Always Wrong, Almost All the Time!
The truth of the matter is - I try to set myself up so I have opportunities in both cases, UP and DOWN. Is that still gambling? Well, probably. But playing poker (gambling) is quite unlike playing roulette (gambling).
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This news had nothing to do with the drop.
So why this drop  More people wanted to sell than buy at those prices. "more people" is a wrong definition. A single whale can move the price. That massive stash of Silk Road-linked coins moving to Finex/Binance might have had something to do with it. ~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ... Totally superfluous, but I'm going to +1 the answers given by Syke, LoyceV and Cassius. |
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If BTC hits 6 figures this year, I'll blow everyone in this thread.
Saving this just in case. For us non-english speakers.... what do "blow" exactly means in this context? I think it is important to set up the terms to avoid potential future misunderstandings. Ooops. Infofront's laser beam... is THAT how he intends to blow us if it comes to that? Blow as in blow up?  |
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No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved.
We need a trustless global BJ system Indeed. And don't forget about distributed. Which would entail a number of, uh, operators alternating on the job, I suppose? Of course only a single lucky one will get to, hm, validate eventually - but the reward could be shared among all those in the pool. |
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'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top).
JJG could be a whale then  It seems to me that the practice of buying on the way down and selling on the way up is a "well-established" practice. It is certainly no original idea from me, I just happen to spout it off on a regular basis because I remain pretty strict in continuing to follow such a practice and I believe that it works quite well, especially for any asset that you expect to have strong long term fundamentals (i.e. bitcoin). Gosh.. actual "whale" status would seem to require several thousand coins, no - unless the "whale" figures out a way to manipulate with smaller coin quantities, perhaps using smaller exchanges, and of course, being able to influence others through information could cause a lot lower coin requirement to reach "whale" status? Actually I was just teasing  Buying on the way down and selling on the way up is the sensible thing to do for long term bulls - which, I guess, most of us are. |
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If BTC hits 6 figures this year, I'll blow everyone in this thread.
Slow yer roll there, big guy. [praying for $99999.99 BTC, and not a penny more.] No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved. |
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'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top).
JJG could be a whale then |
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