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

[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.

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.

i hope you are joking.

when i checked a day or two ago DOGE volume was 1/4 of BTC volume.

that is 25% of the TOTAL BTC volume for a fucking coing with an inu shiba mascot....  25%....

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[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.

i hope you are joking.

when i checked a day or two ago DOGE volume was 1/4 of BTC volume.

that is 25% of the TOTAL BTC volume for a fucking coing with an inu shiba mascot....  25%....

Doesn't mean anything, it's one coin, one pump. BTC/fiat volume now is non existent so 1/4th of that is nothing.

As I said, when Mintpal was doing well there were thousands and thousands of BTC for EVERY COIN (in their first page) for MONTHS.

[ErnieX]

US$395 and lift-off

Still stands. Wow this thread is doing 100 pages per week.

Almost there, we gonna reach it? I would have bought here.

Touched $395 on btc-e woohoo!      

I still think this is a good bet.

[Erdogan]

will the federal reserve exist in 20 years?

Wild guess: no.

[ChartBuddy]

Explanation

[DeadCoin]

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

Or for $100. We'll see

[empowering]

It depends what the main goal is?

Would it be nice to have the freedom to do more things in life?  Sure.  Money is just a necessary tool that can be used for great good in the world.  Money is useful and there are some things I would like to use it for, but there are many more important things in life than money!  But we should be wise with it too.  Some people think Bitcoin is a foolish investment.  I think keeping all of my cash in USD and stocks could be a foolish investment.  We put our trust in the wrong things sometimes.

I'm not even saying wanting to make money is bad, I mean we're all here, are we not? I'm trying to make as much money as I can too.. I'm just using you as an example to the forum for how you can make buttloads of hypothetical money and then still lose most of it due to tunnel vision and stubbornness in your beliefs.

Why are you picking on me BTW?

I hope you learn something from it, and if not you I hope someone else will. You've put all your money on one horse, and that's foolish.

Really ? because it looks to me like you are just being a bit of a condescending prick.

[Bagatell]

The wall seems to be morphing into some sort weird fairground hall of mirrors 

[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.

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.

i hope you are joking.

when i checked a day or two ago DOGE volume was 1/4 of BTC volume.

that is 25% of the TOTAL BTC volume for a fucking coing with an inu shiba mascot....  25%....

Doesn't mean anything, it's one coin, one pump. BTC/fiat volume now is non existent so 1/4th of that is nothing.

As I said, when Mintpal was doing well there were thousands and thousands of BTC for EVERY COIN (in their first page) for MONTHS.

i would recommend that you take a more fact based approach or at least cite some data...

while btc volume clearly is not as high as it was in the beginning of the year when there was a ton of speculative activity and much more volatility it is doing okay http://coinmarketcap.com/currencies/bitcoin/#charts

[Srbotones]

and how much $ represents that 25% of DOGE volume you said before?

Ridiculous comparison.

[exocytosis]

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

I will buy your coins from you for $50 next year.

[edwardspitz]

That wall on Stamps wants us to sodl

Edit: There is a huge lack of panic

[ed_teech]

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

Or for $100. We'll see

How do you come up with these $100 - $10,000 expectations ? Thats such a wide range !

[molecular]

That wall on Stamps wants us to sodl

Edit: There is a huge lack of panic

they great calm?

that wall... it's gone.

[JorgeStolfi]

The point is that BTC has a lot of VC money invested

... but not so much on bitcoin itself; rather into enterprises like exchanges, bitcoin payment processors, and fund management companies -- that are sure to make some profit, at the expense of people who buy bitcoins, even if the bitcoin price were to crash in the medium term.

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".

Indeed, at this point you would be investing in the mood of thousands of Chinese day traders. 

I have seen only a couple of interviews with Chinese bitcoin investors. One was a bitcoin millionaire who claimed to own  a six-figure BTC amount, another was described as the heir of a meat packing company who had a six-figure USD amount invested in it.  I would guess that most of the BTC in China is held by the latter type of investor; but it is just a guess.

I have always found it fascinating that when a commodity gets cheaper people want it less.

That is not surprising at all, it is basic economics: if supply is relatively fixed, the price falls when and because people want it less.

[CMMPro]

That wall on Stamps wants us to sodl

Edit: There is a huge lack of panic

they great calm?

that wall... it's gone.

I was about to ask what wall he was talking about....I guess it was pulled quickly.

Also, maybe I'm jaded but I don't considera couple thousand coins as a "wall"....in the old days a wall was like 10k coins, lol.

[klo123123012ß30]

More cheap coins coming?
omnomnomnomnom 

[edwardspitz]

That wall on Stamps wants us to sodl

Edit: There is a huge lack of panic

they great calm?

that wall... it's gone.

Yes, that was pulled quickly.

[molecular]

That wall on Stamps wants us to sodl

Edit: There is a huge lack of panic

they great calm?

that wall... it's gone.

I was about to ask what wall he was talking about....I guess it was pulled quickly.

Also, maybe I'm jaded but I don't considera couple thousand coins as a "wall"....in the old days a wall was like 10k coins, lol.

when I looked it was 450 BTC

[fonzie]

IT LOOKS PRETTY BAD!   
>400$ seems to be gone for good