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

[bad trader]

I don`t understand this dump, what are your theories men, an uptrend breakdown?

Only if the shiny line of magic breaks.

The market seems to like the shiny line of magic.

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[NotLambchop]

...
I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point...

You're right, but why use $100 in your example?  Try this:
I see a drop of $400 from here as a small chance of happening impossible because math, but $400 rise could happen at any point.
Much more convincing because irrefutable

[ChartBuddy]

Explanation

[inca]

With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.

I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios.

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

Of course I will gladly go long if it starts rising with strength, but IMO that's really unlikely.

The price was manipulated more than 100 dollars higher last month because a suspected 3bn hedge fund was rumoured to be using one of the exchanges to trade so your point is clearly wrong.

Until a US exchange opens with decent depth this thin market volatility will continue. But ultimately demand will overrun even a few forex jokers with twenty thousand coins colluding the price up and down at will.

[arvindr]

^
Mate, you're delusional.  This is all obvious stuff that's known to every 13yr-old, and the local lunatic fringe chooses to ignore 'coz it don't jive with their "I's techno vizhunary & guna b rich!" fantasies.

@inca:  I posted data regarding the way things are now.  Get back to me in 5 years, then we'll talk.

bitcoin is a developing technology .. don't let that thought hurt your brain as you think about it. meditate on it and you might grow some new grey matter .

Yeah btc isn't get rich quick, it takes patience and cunning.

Even when bitcoin jumped up to like $1200/btc, it still took it like 3-5 years to do that. That's a long time to wait.

But that wasn't just a simple increased . The price went from less than a cent, in the beginning to 1200$. Pretty big leap, even for 50 years.

[NotLambchop]

...
Yeah btc isn't get rich quick, it takes patience and cunning.
...

>Patience and cunning
>bitcoiner

[BitAddict]

With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.

I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios.

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

Of course I will gladly go long if it starts rising with strength, but IMO that's really unlikely.

The price was manipulated more than 100 dollars higher last month because a suspected 3bn hedge fund was rumoured to be using one of the exchanges to trade so your point is clearly wrong.

Until a US exchange opens with decent depth this thin market volatility will continue. But ultimately demand will overrun even a few forex jokers with twenty thousand coins colluding the price up and down at will.

It was quite different, it was not magic or manipulation, at that moment bitcoin just breakout a longterm downtrend big resistance, so all the traders FOMOed.

Of course from China they helped to create more FOMO with that probably fake news, but anyway price was going up big time there.

[grappa_barricata]

Bitcoin is useful whatever the price. Even if it goes back to 2 digits again, same usefulness for everybody.

[ChartBuddy]

Explanation

[dreamspark]

Shorts are the highest they've been for a while on Finex. Longs have come down a bit but still a large amount of borrowed USD.

[jaberwock]

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

This is the wide spread mentality right now. Bitcoin tends to launch when you least expect it.

It is quite the opposite, almost everyone is waiting another big pump because of Microsoft news. All of those who bought in that last rally to get rich fast will start to dump all their coins if we don't have a big pump soon.

These people already sold.

The 70% fall came from somewhere, you knoe

[podyx]

I feel like we need to wait for a killerapp/a significantly and easier better cryptocurrency before something can happen

[8up]

Name suggestions, if some volatility happens soonish.

We could call it:

"Micro bubble", due to rising public interest and legitimacy through Microsoft. or

"Soft crash", due to higher BTC sells via XboxOne christmas sales.

[billyjoeallen]

Well at least I know what my next paycheck will be spent on. It would be nice if btc goes up instead though.

So if it goes up, will you still buy? of course not. We know you think that way, so we won't let it go up by much. Prolly just up enough to draw in the suckers.

BTW, I really don't care if it goes up or down. I have a huge pile of coins in cold storage and if the bottom doesn't get retested, then I actually make much more than I lose on my short. We got the people who don't know what they're doing by the balls and all the time in the world to wait for you to screw up so we can take your money.

[grappa_barricata]

Name suggestions, if some volatility happens soonish.

We could call it:

"Micro bubble", due to rising public interest and legitimacy through Microsoft. or

"Soft crash", due to higher BTC sells via XboxOne christmas sales.

What about "The unsignificant event": north-american bitcoin holders can spend them to buy Xbox games

[inca]

I personally don't care about short term price volatility. I will pick up a handful of coins every month until we all know what will happen eventually occurs. If the price inexplicably crashes before we move higher I will buy a lot more coins (->cold storage) which for me is just rebalancing %'s in a portfolio.

I think in a few years this year will be viewed the same as the 2011 bubble high and bear market wanderings thereafter in 2012. Except this time the price is a lot higher and infrastructure, VC funding, utility and ease of obtaining the currency are massively higher than before. With the benefit of hindsight one can imagine it being as obvious a buy as google or amazon was a few years ago.

Intelligent people who understand the superior mathematical properties of bitcoin over conventional fiat are those who will continue to buy and store bitcoins speculatively. What is interesting is the next price surge and wave of adoption could come from an ETF and US investment funding, or it could come from the current demographics or even a younger cohort (say those born in the noughties who want to changetip or send money between each other or buy xbox or steam games)..

Exciting times to be accumulating bitcoin..

[sherbyspark]

Name suggestions, if some volatility happens soonish.

We could call it:

"Micro bubble", due to rising public interest and legitimacy through Microsoft. or

"Soft crash", due to higher BTC sells via XboxOne christmas sales.

The news of microsoft would hardly bring any changes to the price. Its just like Dell accepted bitcoin this year.

[LFC_Bitcoin]

1 Ripple = 0.0175 USD.

Is it worth spending a couple of hundred dollars on Ripple incase it explodes?

[criptix]

1 Ripple = 0.0175 USD.

Is it worth spending a couple of hundred dollars on Ripple incase it explodes?

Ripple consesus algo is faulty should be very careful

[BitAddict]

1 Ripple = 0.0175 USD.

Is it worth spending a couple of hundred dollars on Ripple incase it explodes?

It already exploded, it is at around 3-4x since one month ago.