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

[lolikop]

U guys have no idea where this is going im just gonna tell u one word HODL!

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[Hyperjacked]

Looking very likely we're headed back to the 370-380 range to stabilize and begin a slow steady ascent again.  

Awesome.  We get anywhere near 400, I'm selling the remainder of my bitcoins.  Because it won't.

I'm just kickin back enjoying the bounce off the fake 300 wall...might just hold this time!

cheers Torque

disclaimer:Torque is one of the few that knows what the hell he's talking about!

[ChartBuddy]

Coin



Explanation

[ssmc2]

Looking very likely we're headed back to the 370-380 range to stabilize and begin a slow steady ascent again. 

Awesome.  We get anywhere near 400, I'm selling the remainder of my bitcoins.  Because it won't.

Sweet

[Dilla]

ATH test before New Years_{justkiddingihavenofuckingclue}

[Cconvert2G36]

Not that again No, not everything that gets laughed at [though the internet never was] eventually becomes outrageously popular. Most do not.

Bitcoin transactions are growing. Payment processors like Bitpay release stats that show increasing usage.

Payment processors like BitPay release stats that they're letting people go because faulty business model (see Fig. 1).



                                                            Fig. 1

If you've bought at 3$ you are up 100 times and if you bought at 30$ you are up 10 times.

More like $7-$40 and sold at avg. $6xx, but what does this have to do with bitcoin not being a purely speculative asset and me being ridiculously lucky?

Why $6xx? On the way up, or the dead cat bounce after the peak? Any ideological reasons for the exit, or just gettin' while the gettin' was good?

Did you buy some fine british automobiles with the proceeds??   

[DieJohnny]

Getting nervous yet bears?  

we bears are not nervous in fact I am surprised the price has come down to the mid 300s so fast - i thought it might take a 2-4 weeks.
if you look at an alltime chart that shows the willybot high it took about 12 months to hit its bottom at about $250 (about a 75% drop).

So while I think the rate of the decrease will slow we will be low $2xx within 3 months.

Thats not just bearish but also realistic

That was a bubble with 10x price movement that took about a month to cover most of the volatility.
This time was just a 2x price movement that took about a week to occur in earnest.

I think its safe to say that it bottomed just under $300, and will probably stabilize in the $320-$360 range over the next 2 week. Its obvious theres a lot of support at $300, and moderately around $320 (july peak)

fundamentally, there is no reason for bitcoin to fall below $250 after the way it broke the 2015 price trend, and signifigant evidence for it to be much higher than it was in mid-2013 (waay more venture investment, more legitimacy, more uses, better security and storage methods like trezor or multisig, and insanely higher hashrate. I honestly believe the price should be in the $400-800 range, but its more likely that volatility will send us much higher if the bullish long-term indicators continue

I agree with you in most ways, however, I think security methods, uses of bitcoin, storage methods, multi sig are minimally interesting. Primary reason we are going higher is that entry points for mainstream USA speculators are 1000 times better, faster, safer, than in 2013 (coinbase, gemini).

What should make everyone click the buy button is that long term Holders rarely divest completely. That long term holding base regardless of how small anyone thinks it is just grows, grows and grows, and the number of coins available drops and drops. With absolute certainty there will be a day of reckoning when long term holders are far greater in number and have far more purchasing power than bitcoin dumpers can possibly counterbalance.

[BlindMayorBitcorn]

Not that again No, not everything that gets laughed at [though the internet never was] eventually becomes outrageously popular. Most do not.

Bitcoin transactions are growing. Payment processors like Bitpay release stats that show increasing usage.

Payment processors like BitPay release stats that they're letting people go because faulty business model (see Fig. 1).



                                                            Fig. 1

If you've bought at 3$ you are up 100 times and if you bought at 30$ you are up 10 times.

More like $7-$40 and sold at avg. $6xx, but what does this have to do with bitcoin not being a purely speculative asset and me being ridiculously lucky?

Why $6xx? On the way up, or the dead cat bounce after the peak? Any ideological reasons for the exit, or just gettin' while the gettin' was good?

Did you buy some fine british automobiles with the proceeds??   

I'd love to know how lambie cashed out his swag. Fancy pad in the city with lots of couches is my guess. 

[JimboToronto]

Good afternoon Bitcoinland. Too busy to check in this morning.

Luckily I had time to rush out yesterday and buy some more coins at about $310. Better than paying $354 the day before I suppose.

Glad I saved some disposable cash in case the price went lower. Could still get a few more coins if the price dips even further but I think that's probably it. $300 seems to want to hold.

[ChartBuddy]

Coin



Explanation

[BlindMayorBitcorn]

Good afternoon Bitcoinland. Too busy to check in this morning.

Luckily I had time to rush out yesterday and buy some more coins at about $310. Better than paying $354 the day before I suppose.

Glad I saved some disposable cash in case the price went lower. Could still get a few more coins if the price dips even further but I think that's probably it. $300 seems to want to hold.

Bitcoin: it gets under the skin

[sirohige]

Looks like you're right man  
And yes i don't know what i'm doing a just draw a bunch of random lines to a point i would like BTC to go.
Don't shoot me lol you know i'm not the only one in here  



 

yeahhh i like it

[DieJohnny]

5 and 20 year prospects of owning large amounts of existing assets.

Evaluating the soundness of investing $100k for the purposes of preservation of wealth.

The categories that are important to anyone thinking of purchasing an asset are: liquidity (LQ), cost of ownership (CO), security (SC), and preservation of purchasing power (PP), anything else? Rank 1-10, 10 being the highest possible score.

Liquidity means you can divest your entire asset (100k) immediately without impacting the overall market and convert it to fiat of your choice
Cost of ownership is the burden on a human to own the asset (maintenance fees, manager services, storage, et cetera)
Security is the chance that via standard ownership conditions you may have the asset stolen from you in that time period
Preservation of Purchasing power means that if you score a 10 you have 100% chance of getting all of your purchasing power back at the end of the term. An 8 would mean you risk losing 20% of your purchasing power.

5 Year

Fiat Currency Dollar - LQ 10, CO 7, SC 10, PP 8
Fiat non dollar -         LQ 10, CO 7, SC 10, PP 7
Stocks -                    LQ   9, CO 8, SC 9, PP 9
US Bonds -               LQ   9, CO 8, SC 9, PP 8
Real Estate -             LQ   3, CO 3, SC 9, PP 8
Gold -                       LQ   5, CO 6, SC 4, PP 8
Bitcoin -                    LQ   8, CO 9, SC 7, PP 5+

20 Year

Fiat Currency Dollar - LQ 10, CO 7, SC 10, PP 2
Fiat non dollar -         LQ 10, CO 7, SC 10, PP 1
Stocks -                    LQ   9, CO 8, SC 9, PP ?
US Bonds -               LQ   9, CO 8, SC 9, PP 2
Real Estate -             LQ   3, CO 3, SC 9, PP 7
Gold -                       LQ   5, CO 6, SC 4, PP 7
Bitcoin -                    LQ   10, CO 10, SC 10, PP 10

Over 20 years most any reasonable person would understand that Bitcoin will become more and more liquid, cost of ownership will be lower than any other asset, security will be higher than any other asset, and purchasing power in 20 years will be vastly more than your original investment (assuming bitcoin is not worth zero)

So the trend for bitcoin is that it will be the safest haven for all investors. While all other asset classes can only diminish in the eyes of the ever improving bitcoin. Eventually the wealthy will come to terms with this inevitability and start to buy bitcoin to preserve what wealth they have as Bitcoin will become the obvious choice to everyone.

[JimboToronto]

Good afternoon Bitcoinland. Too busy to check in this morning.

Luckily I had time to rush out yesterday and buy some more coins at about $310. Better than paying $354 the day before I suppose.

Glad I saved some disposable cash in case the price went lower. Could still get a few more coins if the price dips even further but I think that's probably it. $300 seems to want to hold.

Bitcoin: it gets under the skin

[brg444]

So the trend for bitcoin is that it will be the safest haven for all investors. While all other asset classes can only diminish in the eyes of the ever improving bitcoin. Eventually the wealthy will come to terms with this inevitability and start to buy bitcoin to preserve what wealth they have as Bitcoin will become the obvious choice to everyone.

cheers

[BlindMayorBitcorn]

Good afternoon Bitcoinland. Too busy to check in this morning.

Luckily I had time to rush out yesterday and buy some more coins at about $310. Better than paying $354 the day before I suppose.

Glad I saved some disposable cash in case the price went lower. Could still get a few more coins if the price dips even further but I think that's probably it. $300 seems to want to hold.

Bitcoin: it gets under the skin

Sounds about right

[Cconvert2G36]

So the trend for bitcoin is that it will be the safest haven for all investors. While all other asset classes can only diminish in the eyes of the ever improving bitcoin. Eventually the wealthy will come to terms with this inevitability and start to buy bitcoin to preserve what wealth they have as Bitcoin will become the obvious choice to everyone.

cheers

"Just not tonight, dear."   

[brg444]

So the trend for bitcoin is that it will be the safest haven for all investors. While all other asset classes can only diminish in the eyes of the ever improving bitcoin. Eventually the wealthy will come to terms with this inevitability and start to buy bitcoin to preserve what wealth they have as Bitcoin will become the obvious choice to everyone.

cheers

"Just not tonight, dear."   

[yefi]

Can't believe I missed the Great Pig Debate. Something about swinish alien overlords, right?

[JorgeStolfi]

Hope you're not doing this indoors. Welding zinc plated metal causes metal fume fever, actually burning zinc... I don't wanna know.

Outdoors of course...