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

[ZephramC]

How low would you like it?  Is there a price from which Bitcoin wouldn't recover?

Interesting question. ... Is there a non-negative price from which Bitcoin couldn't recover?

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[grappa_barricata]

Is there a price from which Bitcoin wouldn't recover?

Theoretically, if the price were to drop so low and so fast that vast majority of the mining industry was forced to shut down in a time frame so short that difficulty cannot retarget (no more blocks mined with current difficulty, 2016th block never reached), then we have a problem from which recovery is very hard and delicate matter.

[Davyd05]

I guess the perma bulls are caught up in seeing adoption rise, and the bears can supply the newbies coins. I find it awesome that we have the spectrum of bitcoin end user commenting here, from cultist bulls to trolling bears we have the full gambit. I can naturally see why those who trade the technicals will bump headss with long term perma bulls here and or out there, but I suppose that is where strong support in the markets is found so I figure that is just another lil relationship.

[mmitech]

Forget the last bubble. If you knew a year ago that the price today would be around $400, would you be predicting the end of Bitcoin? Everything is going well. I don't know how much lower it will go, but I feel more comfortable holding now than if I had no position in BTC. I'll buy more if it goes lower and I really hope it does, but it feels cheap to me now.

from reading your posts that talk about your position, you seem to be a horrible trader, you bought and held when you supposed to be selling and you sold when you supposed to be buying... everything point to you losing so many Bitcoins/fiat to these moves.

[manfred]

How low would you like it?  Is there a price from which Bitcoin wouldn't recover?

Interesting question. ... Is there a non-negative price from which Bitcoin couldn't recover?

You guys are a funny bunch. Bitcoin is down 27.88 % from the yearly average price ($556) and up 223.39 % from a year ago ($124) More than 200 % up and its dead and buried. epic

[inca]

Checking back in and despite the salivating bears and leveraged traders we have gone nowhere. Difficult to exert a market effect if you are already short or have sold eh guys?

I will continue to buy daily until we rise above 400 or my fiat is dwindled. Yep the price could be pushed down another 50 or 100 dollars for a brief moment but ultimately if miners are selling coins to pay bills it is not in their interest to wreck the technicals and prolong the bear market a second longer than necessary. In six months or a year someone will post a thread from this forum from around now and everyone will be saying I wish I'd had the chance to buy in..what was everyone thinking?

[ChartBuddy]

Explanation

[exocytosis]

I'll buy more if it goes lower and I really hope it does,

Yeah, let's hope so. That way even more sell pressure will be created, and even more people will stay away from Bitcoin.

[inca]

I'll buy more if it goes lower and I really hope it does,

Yeah, let's hope so. That way even more sell pressure will be created, and even more people will stay away from Bitcoin.

We know one thing. You cannot create any sell pressure yourself.

[Davyd05]

How low would you like it?  Is there a price from which Bitcoin wouldn't recover?

Interesting question. ... Is there a non-negative price from which Bitcoin couldn't recover?

You guys are a funny bunch. Bitcoin is down 27.88 % from the yearly average price ($556) and up 223.39 % from a year ago ($124) More than 200 % up and its dead and buried. epic

due impart to bulls yelling moon, the bears can then troll on these relatively modest gains Obviously pointing out those buying at the top and showing the negative gains and feeling like bagholders.

[Wandererfromthenorth]

The point is that BTC has a lot of VC money invested and I still think it will survive for all the purposes it has over traditional means of payment.


But the the reality of its price seems to be different.

BTC price has left any bullishness whatsoever, and if you can't see this I just hope that if this crashes you won't face financial ruin...

If you are considering BTC as a store of value, be aware that you might be putting your money in a speculative monster made up by bots (willy and markus, i doubt some of the WillyReport conclusions myself but it's a possibility), chinese millionaires, P&D and pure "get rich quick" speculation".


Again, this doesn't mean that BTC as a project is dead or will die, I'm just saying that the price you're paying today for a BTC doesn't seem sustainable at all, and all indications available seem to point to that fact.

[prophetx]

Is there a price from which Bitcoin wouldn't recover?

Theoretically, if the price were to drop so low and so fast that vast majority of the mining industry was forced to shut down in a time frame so short that difficulty cannot retarget (no more blocks mined with current difficulty, 2016th block never reached), then we have a problem from which recovery is very hard and delicate matter.

that indeed is a problem. but it is unlikely that miners would shut down so fast due to price fluctuations.

a 1859 type event would knock out many of our systems.

but theoretically you could start a new bitcoin with a seed db of the last block  and start from difficulty 0, readjust the awards to 0 for the first 2 weeks or whatever.

[inca]

The point is that BTC has a lot of VC money invested and I still think it will survive for all the purposes it has over traditional means of payment.


But the the reality of its price seems to be different.

BTC price has left any bullishness whatsoever, and if you can't see this I just hope that if this crashes you won't face financial ruin...

If you are considering BTC as a store of value, be aware that you might be putting your money in a speculative monster made up by bots (willy and markus, i doubt some of the WillyReport conclusions myself but it's a possibility), chinese millionaires, P&D and pure "get rich quick" speculation".


Again, this doesn't mean that BTC as a project is dead or will die, I'm just saying that the price you're paying today for a BTC doesn't seem sustainable at all, and all indications available seem to point to that fact.

Amazing what a bear market does to the psyche. Bitcoin worked perfectly at 1$ and it is working perfectly at $400.

I have always found it fascinating that when a commodity gets cheaper people want it less. It is always true and will be true when bitcoin unexpectedly catches most out and heads upwards again. Every single person who previously sold or didn't want to buy in as they didn't see value in bitcoin at 400 will bite your arm off to buy back in at much higher prices. Madness and delusions of crowds.

[ChartBuddy]

Explanation

[mambamanagement]

will the federal reserve exist in 20 years?

[Wandererfromthenorth]

The point is that BTC has a lot of VC money invested and I still think it will survive for all the purposes it has over traditional means of payment.


But the the reality of its price seems to be different.

BTC price has left any bullishness whatsoever, and if you can't see this I just hope that if this crashes you won't face financial ruin...

If you are considering BTC as a store of value, be aware that you might be putting your money in a speculative monster made up by bots (willy and markus, i doubt some of the WillyReport conclusions myself but it's a possibility), chinese millionaires, P&D and pure "get rich quick" speculation".


Again, this doesn't mean that BTC as a project is dead or will die, I'm just saying that the price you're paying today for a BTC doesn't seem sustainable at all, and all indications available seem to point to that fact.

Amazing what a bear market does to the psyche. Bitcoin worked perfectly at 1$ and it is working perfectly at $400.

I have always found it fascinating that when a commodity gets cheaper people want it less. It is always true and will be true when bitcoin unexpectedly catches most out and heads upwards again. Every single person who previously sold or didn't want to buy in as they didn't see value in bitcoin at 400 will bite your arm off to buy back in at much higher prices. Madness and delusions of crowds.

The problem is not the price itself, just the price action is getting more and more bearish (low volume, no bounces, long term support breached like nothing, no real support).

I agree, if price goes down, there should be nothing to worry about, but the situation is a little different. There are bear markets that are still healthy (healthy correction of prices), but this BTC bear market is NOT healthy right now...

[Erdogan]

You guys are too hard on BitChick.  She's Christ-like!  Remember He complimented the money changers for bringing some volume to the Temple, and made an excellent impression on the locals, who honored Him with a big shindig on that nice Golgotha hill?   Well, WE are money changers.

Welcome, Church Lady!

The temple debacle, that is when the otherwise free market enthusiast Jesus crossed the line. According to my very christian friend, he waived a brush at them and said shush! in a clearly violent fashion.

[prophetx]

The point is that BTC has a lot of VC money invested and I still think it will survive for all the purposes it has over traditional means of payment.


But the the reality of its price seems to be different.

BTC price has left any bullishness whatsoever, and if you can't see this I just hope that if this crashes you won't face financial ruin...

If you are considering BTC as a store of value, be aware that you might be putting your money in a speculative monster made up by bots (willy and markus, i doubt some of the WillyReport conclusions myself but it's a possibility), chinese millionaires, P&D and pure "get rich quick" speculation".


Again, this doesn't mean that BTC as a project is dead or will die, I'm just saying that the price you're paying today for a BTC doesn't seem sustainable at all, and all indications available seem to point to that fact.

Amazing what a bear market does to the psyche. Bitcoin worked perfectly at 1$ and it is working perfectly at $400.

I have always found it fascinating that when a commodity gets cheaper people want it less. It is always true and will be true when bitcoin unexpectedly catches most out and heads upwards again. Every single person who previously sold or didn't want to buy in as they didn't see value in bitcoin at 400 will bite your arm off to buy back in at much higher prices. Madness and delusions of crowds.

The problem is not the price itself, just the price action is getting more and more bearish (low volume, no bounces, long term support breached like nothing, no real support).

I agree, if price goes down, there should be nothing to worry about, but the situation is a little different. There are bear markets that are still healthy (healthy correction of prices), but this BTC bear market is NOT healthy right now...

I think a lot of the trading and volume has been sucked away into the alt currency markets.  Many PnDs happening there on a weekly basis, which is a big turn off to people looking in from the outside.

[Wandererfromthenorth]

The point is that BTC has a lot of VC money invested and I still think it will survive for all the purposes it has over traditional means of payment.


But the the reality of its price seems to be different.

BTC price has left any bullishness whatsoever, and if you can't see this I just hope that if this crashes you won't face financial ruin...

If you are considering BTC as a store of value, be aware that you might be putting your money in a speculative monster made up by bots (willy and markus, i doubt some of the WillyReport conclusions myself but it's a possibility), chinese millionaires, P&D and pure "get rich quick" speculation".


Again, this doesn't mean that BTC as a project is dead or will die, I'm just saying that the price you're paying today for a BTC doesn't seem sustainable at all, and all indications available seem to point to that fact.

Amazing what a bear market does to the psyche. Bitcoin worked perfectly at 1$ and it is working perfectly at $400.

I have always found it fascinating that when a commodity gets cheaper people want it less. It is always true and will be true when bitcoin unexpectedly catches most out and heads upwards again. Every single person who previously sold or didn't want to buy in as they didn't see value in bitcoin at 400 will bite your arm off to buy back in at much higher prices. Madness and delusions of crowds.

The problem is not the price itself, just the price action is getting more and more bearish (low volume, no bounces, long term support breached like nothing, no real support).

I agree, if price goes down, there should be nothing to worry about, but the situation is a little different. There are bear markets that are still healthy (healthy correction of prices), but this BTC bear market is NOT healthy right now...

I think a lot of the trading and volume has been sucked away into the alt currency markets.  Many PnDs happening there on a weekly basis, which is a big turn off to people looking in from the outside.

I can tell you by a fact that this is not the case because the altcoins markets are DEAD right now.
Volume on Bittrex is ridiculous. Something going with Bter and other chinese shitcoin exchanges but nothing spectacular.


Few months ago there was the shitcoin exchange "Mintpal" who was making thousands and thousands of BTC of volume for almost every coin trader there (at least the top 5-10), and BTC/USD trading was doing decently fine anyway.
Now Bittrex has like 500 BTC of entire trading volume.

No it's not the shitcoin markets, their are deader than ever too.

[yokosan]

Thanks to everybody that is selling sub-$400 coins. I will sell that back to you for $10,000 next year