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

[dnaleor]

a dumptard and his coins will soon be parted.

Singalong:
https://www.youtube.com/watch?v=Qkuu0Lwb5EM

Who let the dumptard out?

Who let the dumptard out (woof, woof, woof, woof) x4
When the party was nice, the exchange rate was jumpin' (Hey, Yippie, Yi, Yo)
And everybody havin' a ball (Hah, ho, Yippie Yi Yo)
I tell the fellas "Choo Choo Motherf*cker'" (Yippie Yi Yo)
And the dumptards report to the call
The exchange rate went down

Who let the dumptard out (woof, woof, woof, woof) x4
I see the train coming, don't want to miss it
I really need to buy now
Pull my sell wall, put my bid wall
Praying that the dumptard doesn't return.

I'm gonna tell myself "hey man, no get angry (Hey, Yippie, Yi, Yo)
at all the duptards getting profits" (Yippie, Yi, Yo)
They tell me "Hey Man, It's part of the Party!" (Yippie Yi, Yo)
You catch a buy in front and a sell in behind (Yippie, Yi, Yo)
I hear a trader shout out

Who let the dumptard out (woof, woof, woof, woof) x4
A dumptard is nuttin' if he don't do a trade. All dumptards do some trades, all dumptards do it (x2)

Who let the dumptard out (woof, woof, woof, woof) x4
I see the train coming, don't want to miss it
I really need to buy now
Pull my sell wall, put my bid wall
Praying that the dumptard doesn't return.

Wait for all the buys, the party is on
I gotta set my targets I got my mind on
Do you see the sells comin' on the book
I'm buying it all and tearing all the walls down!

Me I never do shorts
And I can't see it coming, I just HODL
I'm figurin' that's why they call me a bull
'Cause I'm a man with a plan
When they see me they doooooo (howl)

Who let the dumptard out (woof, woof, woof, woof) x4

[1715215023]

1715215023

[1715215023]

1715215023

[blatchcorn]

cavirtex has always been a low-pass filtered version of the bigger markets (bitstamp/gox, etc...)

we clearly broke the big downtrend a while ago but if you take a moving-average price line of a few days, cavirtex is at the top of the smoothed descending triangle...

fun stuff ahead.

Really interesting graph.  I think both bulls and bears can see these trends playing out.

And regarding the regulations: yes far from ideal but right now we need clarification that Bitcoin is legal to continue with the adoption process.  Laws can be changed down the line when large businesses accepting Bitcoin publicly criticize the regulations, rather than Bitcoiners.

[Adrian-x]

Cost / Value analysis says we should be trading our bitcoins for at least 1500$. cheap coins everywhere!

I here the $1000 parties 1BTC tickets are selling in the low $600 at the moment (no need to buy a ticket just a Bitcoin)

And for those who don't believe me there are going to be hordes of people complaining that the party tickets only deliver $1000 in value but cost $2000 in actual outlay  

[ChartBuddy]

Explanation

[FUR11]

What's going on? I'm afraid what'll happen the coming week. It's Sunday, so do you think we might see another Sunday night rise/pump or are we in for a Monday-Monday-Manic-Crash? Where are our long-term support lines we're supposed to bounce of now?

[empowering]

What's going on? I'm afraid what'll happen the coming week. It's Sunday, so do you think we might see another Sunday night rise/pump or are we in for a Monday-Monday-Manic-Crash? Where are our long-term support lines we're supposed to bounce of now?

765
750
735
710
676   
666
654
636
629

=623

618-614
609
601
586 ish
565
530/5
500
476
435/430


Personally I think we are in for an interesting week - mid term decision time is nearly upon us...

I will be looking thursday/friday, although who knows what will happen Monday...

This sideways has got to be up sooooooooon

[FUR11]

What's going on? I'm afraid what'll happen the coming week. It's Sunday, so do you think we might see another Sunday night rise/pump or are we in for a Monday-Monday-Manic-Crash? Where are our long-term support lines we're supposed to bounce of now?

Personally I think we are in for an interesting week - mid term decision time is nearly upon us...

Yeah, I don't know if I should be excited or frightened. But when things got tough in this recovery phase, everything actually went pretty well! But I can't say I'm not afraid... It's nerve-wrecking!

[empowering]

What's going on? I'm afraid what'll happen the coming week. It's Sunday, so do you think we might see another Sunday night rise/pump or are we in for a Monday-Monday-Manic-Crash? Where are our long-term support lines we're supposed to bounce of now?

Personally I think we are in for an interesting week - mid term decision time is nearly upon us...

Yeah, I don't know if I should be excited or frightened. But when things got tough in this recovery phase, everything actually went pretty well! But I can't say I'm not afraid... It's nerve-wrecking!

If we get to 750 and there is some serious volume then I will be all eyes and ears

If we go to 435 I will also be all eyes and ears.

At this stage I am hiding behind the sofa- I almost cannot watch... or I am asleep- not sure which.
  
Edit - Eitherway I am all eyes this week, and if we still get nothing but sideways this week (god help me) then I am still going to be behind the sofa for the few weeks after that too... if we have not done anything between now and say Aug 8th- then I really will be really quite shocked

[FUR11]

What's going on? I'm afraid what'll happen the coming week. It's Sunday, so do you think we might see another Sunday night rise/pump or are we in for a Monday-Monday-Manic-Crash? Where are our long-term support lines we're supposed to bounce of now?

Personally I think we are in for an interesting week - mid term decision time is nearly upon us...

Yeah, I don't know if I should be excited or frightened. But when things got tough in this recovery phase, everything actually went pretty well! But I can't say I'm not afraid... It's nerve-wrecking!

If we get to 750 and there is some serious volume then I will be all eyes and ears

If we go to 435 I will also be all eyes and ears.

At this stage I am hiding behind the sofa- I almost cannot watch...
 

Ha, I know that feeling! It's practically the same with me! So scary! I really don't want to see the 500s again, but am quite prepared that we might dip in them once again. Maybe as some kind of launch-signal for the next bubble-buildup. But I'm not especially pessimistic either, we've seen the rapid growths in May out-of-the-blue rises in the last weeks, as well. The general majority just needs to forget about the bubble, so it can actually happen!

[empowering]

PAY ATTENTION !

Because Christine "Lagggard" and her magic 7's  pg 7717      

(Adds 777 to the list)

[ChartBuddy]

Explanation

[JayJuanGee]

Explanation

Looks good, price is staying on 600-630 going up and down every day, u can almost know when exactly will go down and then big wall up. I guess perfect scenario for day traders .

As soon as you believe that you have the bots figured out, they mix it up... so trading will likely be a losing proposition for more than 90% of humans.

[samsonn25]

The way around bots is to use limit orders to buy and sell.  If that option is available.

[JayJuanGee]

What if BTC stabilises here?

I'm just getting the feeling recently that all the Bull/Bear nonsense is based on the belief that BTC is a speculative instrument (or still in the speculative phase) and that may not be true.

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus - he's not taking BTC because he needs the money/fiat/crypto and he doesn't need to hodl to achieve some future dream of luxury.  It's an optional transactional medium for him to continue to accrue wealth - that is all.

As it gets easier to obtain, and easier to disburse the price is going to settle down as a matter of course. BTC has already become a global currency (it happened while we were not sleeping) and after all the excitement about China - and then then the come-down - we're all still holding coin with the most amazing utility.

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

There is NOT a large enough market cap to achieve multi-million dollar (or even billion dollar) transactions without causing some volatility; accordingly, the market cap has to increase in order to make bitcoin practical for these purposes.  Accordingly, since bitcoins have a limited supply and a limited production rate, the ONLY way to accomplish sufficient meaningful market cap is for BTC prices to go up (probably at least 100 times today's current prices). 

In Sum, it is inevitable that BTC prices will go up, if it is going to serve large and/or institutional financial uses.

[empowering]

Totally random.... but John Kerry has the face of a horse.



Is that bullish or bearish? 

[SirChiko]

What if BTC stabilises here?

I'm just getting the feeling recently that all the Bull/Bear nonsense is based on the belief that BTC is a speculative instrument (or still in the speculative phase) and that may not be true.

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus - he's not taking BTC because he needs the money/fiat/crypto and he doesn't need to hodl to achieve some future dream of luxury.  It's an optional transactional medium for him to continue to accrue wealth - that is all.

As it gets easier to obtain, and easier to disburse the price is going to settle down as a matter of course. BTC has already become a global currency (it happened while we were not sleeping) and after all the excitement about China - and then then the come-down - we're all still holding coin with the most amazing utility.

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

There is NOT a large enough market cap to achieve multi-million dollar (or even billion dollar) transactions without causing some volatility; accordingly, the market cap has to increase in order to make bitcoin practical for these purposes.  Accordingly, since bitcoins have a limited supply and a limited production rate, the ONLY way to accomplish sufficient meaningful market cap is for BTC prices to go up (probably at least 100 times today's current prices). 

In Sum, it is inevitable that BTC prices will go up, if it is going to serve large and/or institutional financial uses.

Consider the lost/forgotten/lost private keys coins also!

[birr]

The regulations are bad news? I have to disgree....

Well, Erik Vorhees did not like them: http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/

And the winklevosses adore them.  Vorhees cares about human freedom and dignity, while the winklevosses care about the value of their bitcoin.  Thus vorhees is disappointed while the winklevosses are encouraged.

Wii are afraid to rub tptb the wrong way; if the adorable twins make astringent pronouncements à la Voorhees, teacher won't give them the gold star.
Suckups.

at this stage in the game... I think the regs are a good thing for the next stage of the BTC life cycle...... later down the line.... things will change I am sure as BTC becomes ubiquitous. I think there is a middle ground point of view on the regs themselves... between the views of the winklevosses and Erik.... my feelings towards the future of cryptos is more aligned with Erik as far as I know , however I differ on how negative I think these regs are at the moment  I think they are good because they bring clarity and a framework-publicity and I think will bring new investors into the ecosystem. It is like a foothold if you like for BTC to continue its path- not that it needs it... but fact is... they are coming, they are going to be put into place, and as such- they are not "bad" or should I say "not too bad" It is a far cry from "BTC is bannned" or regulated out of use (good luck with that one)  One way or another  I do not see these regs being the end of "Cryptos for humanity"  either.  There are too many people around the world fed up of the boot on their face.

Boot on your face...  don't fight it.
Just bend over and lube up.

Not.

[N12]

We've been at this price the last few weeks, something has to give soon!

Agreed. Lowest daily BBW since ages - below 0.06, last time that happened was September 2013 iirc. It'll resolve soon, I'm sure. Not equally sure though in which direction. :/

Where did you get this reading? It's 35 on bitcoincharts.com.

[empowering]

Remember to have your say ! however you feel.



http://cointelegraph.com/news/112104/bitcoin-at-a-crossroads-tackling-the-bitlicense

[ChartBuddy]

Explanation