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

[ChartBuddy]

Explanation

[WeltMaster]

Looks like that might have been the last bear trap this year?

If we do rally before new year then 2014 might not look so horrendous on the charts, and give us a good foothold into 2015

What the fuck makes you think this?

Hope 

[GoWest]

Looks like that might have been the last bear trap this year?

If we do rally before new year then 2014 might not look so horrendous on the charts, and give us a good foothold into 2015

What the fuck makes you think this?

Hope 

[coinableS]

Shorts on finex going up? Almost 15k now

Shorters gonna cry

[galdur]

He sees $400 by xmas

[coinableS]

[coinableS]

That 30minute EMA is about to cross
The 1HR crossover won't be far behind

[octaft]

Hopefully now people will come to understand that this sort of "adoption" doesn't mean shit to create demand for BTC. It actually makes it worse by having Bitpay and Coinbase increase BTC sells.

Next time, listen to FUD (Facts U Dislike), not Hopium.

"Facts U Dislike" is back! I missed "Facts U Dislike" Blitz!

[ChartBuddy]

Explanation

[exocytosis]

This better be a mini bounce. I was promised $270 coins

Fewcoins promised ME $270 coins too

Don't worry. In 2015 you'll get plenty of chances to buy sub $200 and sub $100 coins. You can buy as many as you like. People will be more than willing to sell.

[BlindMayorBitcorn]

This better be a mini bounce. I was promised $270 coins

Fewcoins promised ME $270 coins too

Don't worry. In 2015 you'll get plenty of chances to buy sub $200 and sub $100 coins. You can buy as many as you like. People will be more than willing to sell.

I can wait

[janos666]

This better be a mini bounce. I was promised $270 coins

Fewcoins promised ME $270 coins too

Don't worry. In 2015 you'll get plenty of chances to buy sub $200 and sub $100 coins. You can buy as many as you like. People will be more than willing to sell.

I can wait

I won't. This is starting to look like an unfolding madness but there must be a rational end of it and I don't think that's <100 (probably >200 IMO).

[sidhujag]

Aright ltc bottomed btc buy time

[ChartBuddy]

Explanation

[mymenace]

Explanation

cheap coins (speculating), this is the 5th time we have seen $325 since the last low, very hard to sell below that wall

good support 300-315 very hard to sell into this wall and then see btc go up


ruble short term rise is leveling off time to get back into btc

[Le Happy Merchant]

Schiff's video got me thinking. The next rally can't come until Jan 2 because of tax implications.

[Richy_T]

Nobody has a clue, but some of us were predicting bottom in the range $280-$285 for quite some time (months). That's the bottom were miners have to stop selling immediately what they mine or turn off their machines. Some smart-asses keep claiming that price has nothing to do with mining which is only partly true, price *is* formed by supply and demand, but they keep forgetting that miners are the bigger part of the supply side. This is not so important when the price is way up and miners can only sell part of their produced BTCs and speculate with the rest, but with the price this low they have to sell right now, there's no margin for risk of BTC falling ever lower and they would end up in red because they've already in debt for the electricity they've consumed. However, when the price goes below the US$ amount already invested in BTC through mining, they have to stop selling and wait for the price to go up to $280 or go out of the business. Simple as that.

And, in fact, this is the "Platonic" ideal. While there is plentiful profit to be made, new miners should keep joining, pushing the difficulty up and pushing the profits down. Satoshi was clearly a believer in the markets.

This is also relevant to an issue people seem to misunderstand about transaction fees. They seem to think that as the block reward falls, transaction fees must rise to match it. Nonsense. Miners leave, difficulty drops and we find a new equilibrium where fees are perhaps higher but do not need to match the previous block rewards.

The absolute genius of it all? In the meantime, the "Easy profits" of mining have lead to the development of first GPU then FPGA then ASIC mining, leading to highly efficient mining so that the transaction fees ultimately will be lower than if we were still sitting jerking around with CPUs. It's like we jumped to internet banking in the mid-1100's instead of erecting huge buildings everywhere and filling them with people and deposit slips. This is capitalism 101.

Unless it all goes down the drain of course. But I know where my money is and it's denominated in BTC.

[Richy_T]

solid currencies like USD or EUR

Lulz.

I get your point but right now, that's more inertia than anything else.

[empowering]

Schiff's video got me thinking. The next rally can't come until Jan 2 because of tax implications.

But, the day after is Bitcoins birthday.... And then on the 4th it's gonna have a hangover...  So gonna have to be after the 5th.

Then doesn't Lawsky come to town shortly after for his birthday? maybe I am getting confused.

[Eddie Brock]

Remember how the Cyprus trouble helped the price of bitcoin?

All this trouble with the ruble now and btc isn't doing anything, the russians are not buying.

And russia is huge compared to cyprus, so they should have an enormous influence on the price of btc.

Any theory?