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

[calme]

No one wanted to buy @ 730 but they'll gladly buy at $25+ more here in a bit

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[savetherainforest]

How much fiat will it take to get us to $3k?

somewhere around 47-48 billion dollars in market cap for 15.700.000 - 15.800.000 coins.

But you can find out by basically multiplying 3000$ x [number of coins] = market cap .... but that is not exactly necessarily! ... Because if the markets want 2000$ for 1BTC ... then they will keep that price with less money in the system or more money in the system. Meaning supply&demand rules do not always apply! ... Meaning someone will make someone else lose money or coins for the love of speculation.

Basically there can be 20 billion in the system but only 10 billion are accounted. Also the exchanges bleed an amount of the user's fiat with the transaction fees.

Mostly it is a very emotional process setting the price. And example would be if there are only 19 million BTC in the system and 17 million are not transactioned ... that created a limit of 2 million coins for that 20 billion $ in the system. So you will do that 20.000.000.000 $ (divided by) / 2.000.000 BTC (coins) = [value per coin] 10.000$ ... if only 2 million coins are used in a 20 billion $ market cap ..  

Does this help you understand better in the future so you can calculate on your own?

[spooderman]

It's funny how, when the price is going up, I'm totally convinced the nature of Bitcoin is to keep going up eventually to $32,768, and then when the price is going down, I'm totally convinced the nature of Bitcoin is to keep going down eventually to $1 after some grand plot is revealed (jaded penny stock investor), and the only difference changing my feelings... is the color of the candles.

you're the only person here i thought could trade somewhat rationally. this is depressing news.

[spooderman]

i feel like the ethereum drama damaged the whole crypto space, despite everyone in the bitcoin community seeming so delighted.

maybe we're still in a rally idk. i hope so. though i would also be delighted to chill in the 700s for a few weeks

[TERA]

It's funny how, when the price is going up, I'm totally convinced the nature of Bitcoin is to keep going up eventually to $32,768, and then when the price is going down, I'm totally convinced the nature of Bitcoin is to keep going down eventually to $1 after some grand plot is revealed (jaded penny stock investor), and the only difference changing my feelings... is the color of the candles.

you're the only person here i thought could trade somewhat rationally. this is depressing news.

It has nothing to do with trading. It's just the emotions I feel.

[TERA]

I've been trying to compare 2014-2016 to 2011-2013 under the assumption that it's time to break ATH now but it doesn't make any sense and the structure/symmetry just isn't the same (not to mention the different timescales). In the 2011 chart you can see that bottom being reached to the left only 33% of the way through the chart. However in the 2015 chart you see bottom not being reached until 50% of the way through the chart and dragging on all the way through 75% of the way through the chart at roughly the same level. The bottoming out was much weaker and the jump to now supposedly try to challenge ATH is extremely sudden. Therefore, odds are most likely that we need another midterm consolidation of 6 months of to make an even chart. I see the following possibilities:
1. 25%: This is a trap and a sort of double top before another serious bear market.
2. 50%: There is going to be a 6 month consolidation phase before ATH is broken.
3. 25%: ATH is broken now.

[_biO_]

I've been trying to compare 2014-2016 to 2011-2013 under the assumption that it's time to break ATH now but it doesn't make any sense and the structure/symmetry just isn't the same (not to mention the different timescales). In the 2011 chart you can see that bottom being reached to the left only 33% of the way through the chart. However in the 2015 chart you see bottom not being reached until 50% of the way through the chart and dragging on all the way through 75% of the way through the chart at roughly the same level. The bottoming out was much weaker and the jump to now supposedly try to challenge ATH is extremely sudden. Therefore, odds are most likely that we need another midterm consolidation of 6 months of to make an even chart. I see the following possibilities:
1. 25%: This is a trap and a sort of double top before another serious bear market.
2. 50%: There is going to be a 6 month consolidation phase before ATH is broken.
3. 25%: ATH is broken now.

100%: this analysis is bullshit

[savetherainforest]

It's funny how, when the price is going up, I'm totally convinced the nature of Bitcoin is to keep going up eventually to $32,768, and then when the price is going down, I'm totally convinced the nature of Bitcoin is to keep going down eventually to $1 after some grand plot is revealed (jaded penny stock investor), and the only difference changing my feelings... is the color of the candles.

you're the only person here i thought could trade somewhat rationally. this is depressing news.

It has nothing to do with trading. It's just the emotions I feel.

... It has nothing to do with trading. It's just the emotions I feel.

Yes ... but the emotion tells me that it will not go to 1$ as you said ...

it is like trying to bring back a rocket from space with no fuel left in the reservoir for the return.

The emotional value is the value that satisfies the perceived acceptable spending power of 1% that one has and considers it satisfying/minimum loss!

[Tzupy]

once we hit

747

this thing is going to take off.

Passengers of the last (and doomed  ) flight please return to the lounge, takeoff is delayed by a couple of hours.

[spooderman]

1. 25%: This is a trap and a sort of double top before another serious bear market.
2. 50%: There is going to be a 6 month consolidation phase before ATH is broken.
3. 25%: ATH is broken now.

100%: this analysis is bullshit

actually i completely agree with this.

[calme]

There used to be so many bears in here. What happened to them? Identity crisis?

[Ted E. Bare]

Bitcoin Block Reward Halving Countdown:
Only 22 more days!

Reward drop ETA: Sun, 10 Jul 2016 10:44:06 GMT

[shizuska]

We should see a new market cap ATH soon, was it around 13b?

[bitebits]

We should see a new market cap ATH soon, was it around 13b?

In Bitcoin, soon^© is as variable in time as Microsoft minutes are.

https://coinmarketcap.com/currencies/bitcoin/ (the blue line)

[rjclarke2000]

We should see a new market cap ATH soon, was it around 13b?

I'm sure I remember seeing 17b in 2013

[rjclarke2000]

There used to be so many bears in here. What happened to them? Identity crisis?

What happened to Assmaster and his bullshit on a coin beginning with E? I didn't see him boasting about a 30% drop

[JayJuanGee]

We should see a new market cap ATH soon, was it around 13b?

In Bitcoin, soon^© is as variable in time as Microsoft minutes are.

https://coinmarketcap.com/currencies/bitcoin/ (the blue line)

Yeah, the blue line shows a tiny bit more than $13.5 billion... So clearly we could count that or maybe $14 billion just to be clearly in the clear and unambiguous.

It will be exciting this weekend to see if we start to get close to breaking into $800s... or maybe we will have to wait one more week or a few more weeks? 

We almost got spoiled by the last three weekends in a row, which almost cause an expectation that something is going to happen either this weekend or next week?  Anyone?  I'm placing breaking into $800 as a bit greater odd than breaking below $680.... You see that I have been somewhat tempered by two years of bear dumps.

[Fatman3001]

where choo choo at?

i wanna buy a boat!

[DeathAngel]

where choo choo at?

i wanna buy a boat!

I was hoping to see $800 bitcoin's this weekend. I wouldn't like to be left disappointed

[marcus_of_augustus]

There used to be so many bears in here. What happened to them? Identity crisis?

What happened to Assmaster and his bullshit on a coin beginning with E? I didn't see him boasting about a 30% drop

Pretty sure he's #Assrekt so hard right now ... he should have spent more time checking his smart contracts code instead of gloating on bitcoin forums about his altcoin scam. The harder they gloat the worse it was going to be for them. Vitalik and his crew better have good liability insurance cause the smart lawyers are lining up for their piece of a crack at #assrekt and buddies.

http://pastebin.com/CcGUBgDG

    I am disappointed by those who are characterizing the use of this intentional feature as "theft". I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO:

    "The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation."