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

[Paashaas]

Nooo... i'm getting my paycheck this friday, i wanna buy cheap coins 1 more time.

You have had plenty of opportunities to buy cheap coins...


At some point, this rocket has got to leave the launch pad, and maybe, just maybe this could be it.

My position is very satisfied after 2.5+ years of buying, i try to accumulate as much as possible.

Bitcoin's fundamentals are very stong, a new major bull is in the making in the near foreseeable future.

[1714639533]

1714639533

[1714639533]

1714639533

[1714639533]

1714639533

[1714639533]

1714639533

[Chef Ramsay]

Is there any way to see how high of a fee I need to get through fast?

.01 will get you served fast. Take care of your bartender and they'll take care of you.

[toknormal]

I just think it could be simple trading technicals thats driving this movement.

There are a load of them "clicking into place" including a confluence of short and long term.

[JimboToronto]

I realize this is a USD/BTC thread but Canadians might like to hear that we just passed 900 CAD per BTC according to Bitcoinaverage.

[Chef Ramsay]

Mission creep on $680 incoming.

[AlexGR]

Is there any way to see how high of a fee I need to get through fast?

https://bitcoinfees.21.co/

[marcus1986]

Mission creep on $680 incoming.

Check your engines guys and be ready for really BIG movement!

[matt4054]

This is basically what's going on, and it doesn't look good for the future panic buys

https://www.bitcoinqueue.com/details/2d.html

Maybe there is a certain amount of opportunism pumping going on?

If there is a bit of locking out of folks, and inability to anticipate or to get "in" for a pump, then the pumpers can feel a bit of pleasure in locking folks out of the pump, and then get the price to a point in which they can dump onto folks?  Is that price point mid to upper $700s? 

If this does not play out well, then the pumpers (manipulators) could lose control over the situation if it gets into the mid $800s.  I am of the theory that manipulation does exist; however, not even the manipulators have perfect information or are able to completely control price directions... but they are in a decent position to take advantage of situations as they present themselves and maybe even to manipulate within those newly evolving parameters (more quickly than the regular guy).

There is definitely some opportunism (and optimism) in the process, but you can't fake the long term trend (I'm speaking 2 years here). Bitcoin is scarce by design, and that is the precise reason why it is superior or at least a necessary alternative to central banks, when the latter have been seen handing out money (and printing it in volumes) over the last few years.

[JayJuanGee]

We are still $100 below the 2016 high.
This pump will climb to ~$995 and back to $600 before stabilizing at $800 for months.

I doubt that $1,000 is any kind of meaningful resistance point, as many people are attempting to attribute to it.

I also doubt that $800 is a stabilizing point, even though mid-$800s is seeming pretty likely to be a resistance point.

You could correct in your proposed scenario, ghdp, but it really seems that you are painting a scenario that has less than a 10% chance of taking place, maybe even less than 5%?

[toknormal]

I doubt that $1,000 is any kind of meaningful resistance point, as many people are attempting to attribute to it.

I think I'd probably see $1000 as a "lighting the touchpaper" point rather than resistance. The fact that it got back there after 3 years would raise a lot of eyebrows. Not least all those clueless University economists who wrote Bitcoin off back then due to "not being backed".

[JayJuanGee]

This is basically what's going on, and it doesn't look good for the future panic buys

https://www.bitcoinqueue.com/details/2d.html

Maybe there is a certain amount of opportunism pumping going on?

If there is a bit of locking out of folks, and inability to anticipate or to get "in" for a pump, then the pumpers can feel a bit of pleasure in locking folks out of the pump, and then get the price to a point in which they can dump onto folks?  Is that price point mid to upper $700s? 

If this does not play out well, then the pumpers (manipulators) could lose control over the situation if it gets into the mid $800s.  I am of the theory that manipulation does exist; however, not even the manipulators have perfect information or are able to completely control price directions... but they are in a decent position to take advantage of situations as they present themselves and maybe even to manipulate within those newly evolving parameters (more quickly than the regular guy).

There is definitely some opportunism (and optimism) in the process, but you can't fake the long term trend (I'm speaking 2 years here). Bitcoin is scarce by design, and that is the precise reason why it is superior or at least a necessary alternative to central banks, when the latter have been seen handing out money (and printing it in volumes) over the last few years.

I agree with your overall points, especially that longer term is more difficult to manipulate, and I am not exactly a big manipulation conspiratorialist because I think that any kind of manipulation, to the extent that it exists remains complicated and difficult to carry out.. but people with money (such as governments and banks) can really put themselves into positions to have considerable sway.. and yeah, in the end, there may only be so much that they can accomplish through the markets... especially when it comes to longer term price pressures and scarcity, as you referred to (and we also know that there are some tools and maybe even some shenanigans in place in which fractional reserves is being practiced - and that is part of the reason why Chinese exchanges have a bit less credibility than some of the western exchanges). 

[toknormal]

Rally could be because of new Macbook Pros coming out tomorrow.

There are many whales who do not want to pay more than 1 BTC for a new Macbook Pro 

[rjclarke2000]

There is major bullish talk here. I admit I am a bull and always have been.

May I ask why everyone feels different last time? If we went up to 780/790 last time then down to 5** surely it's not out of the question that this may happen again.

I don't mean to piss on anyone's fire here but this move is nothing new. What am I missing? Please feel free to tell me why this time is different.


From a cautious bull.

[toknormal]

Bitcoin reflecting devaluation in offshore Yuan.

http://ftalphaville.ft.com/2016/10/26/2178098/bitcoin-as-a-chinese-capital-outflow-proxy/

(Meanwhile, Gold reflecting the growth of a dead sheep. Lost another half percent today. I'm sure the bugs will be able to paint a positive spin on the "metals" though).

[toknormal]

People who were there in 2013 know that a 10 times quick pump is totally possible.

...only if the pump is driven by an insolvent exchange trading "fake" BTC that it doesn't have 

[rjclarke2000]

I don't mean to piss on anyone's fire here but this move is nothing new. What am I missing? Please feel free to tell me why this time is different.

People who were there in 2013 know that a 10 times quick pump is totally possible.
Ethereum is dead. Bitcoin is the only blockchain that matters. People notice and buy bitcoins.

I owned btc during the pump at the end of 2013 so I know the feeling well. I just don't see why this is happening now.

[becoin]

May I ask why everyone feels different last time? If we went up to 780/790 last time then down to 5** surely it's not out of the question that this may happen again.  

Of course, we can if another 120 000 bitcoins got stolen from another exchange. BTW those bitcoins were not stolen. Bitfinex sold them out to contain price rise and then reported them as stolen.

Don't keep your bitcoins on exchanges or bank-like wallets!

[JayJuanGee]

We are still $100 below the 2016 high.
This pump will climb to ~$995 and back to $600 before stabilizing at $800 for months.

I doubt that $1,000 is any kind of meaningful resistance point, as many people are attempting to attribute to it.

I also doubt that $800 is a stabilizing point, even though mid-$800s is seeming pretty likely to be a resistance point.

You could correct in your proposed scenario, ghdp, but it really seems that you are painting a scenario that has less than a 10% chance of taking place, maybe even less than 5%?

If other scenarios are straight up to $2500, $5000 or $10000, I don't mind being wrong.
I don't see it stopping at $850. Last stops were $780 (July) and $500 (Nov'15).

Sure, there is a quite a bit of wiggle room in attempting to project any kind of scenario and identifying various resistance and support points that may exist.  I certainly do not have any insight, but I surely do question the scenario that you had outlined, it had seemed like a kind of lazy and almost random scenario that is choosing $1,000 as a resistance point merely because it happens to go from 3 digits to 4 digits.  I don't deny that a lot of folks get a bit hung up on this 3 digit versus 4 digit scenarios, but in the reality I really doubt that the lame hang-ups of possible popular thinking of 3 versus 4 digits is really much of anything in terms of attempting to figure out potential BTC price movements.

I don't really want to argue or rehash, but if you consider that we already made it fairly solidly into the $1,100s in late 2013 and there were a large number of trades in the $1,500s in that late 2013 time-frame.  There has been a lot going on in bitcoinlandia since then (and really a lot of positive developments, in spite of garbage from some of the naysayers)

Sure, there is some importance in the $500 price point of 11/15 and the $780 price point of 7/16, and so we have to account for some of the recent history - yet there is quite a bit else going on in bitcoinlandia, too.  And, really, the $500 peak of 11/15 has become a kind of ancient history because it was a unsustainable spike out of the $200s and stimulated the rally that brought us into the $350 to $460 price range for nearly 6 months, depending on how you count it.  So the $780 is much more important than the $500 in the current context.... and really the $500, if anything, could potentially serve as a guide point of pretty low area of support, if there is any kind of additional attempted dump down to that level... which was already attempted with the bitfinex hack.. which largely put us in the $560 to $630 price territory (and not any meaningful sustained price points in the lower $500s, even.

Surely getting within 25% of the 2013 ATH is going to cause some attention.. like what Toknormal mentioned https://bitcointalk.org/index.php?topic=178336.msg16692085#msg16692085 and so surely it makes little sense that we are going to get caught within 25% up or down of $1150 for any meaningful amount of time... at least not on the way up, even though we cannot really be sure if a correction back down into the lower $1,000s could take place after likely breaching into a $3k to $5k range.. Yeah, of course there could be some variance and yeah of course your scenario could play out, but I think that your scenario is missing some logic and backing up of what kinds of things actually occur in markets, paradigm shifting developments, the kicking in of networking effects, exponential growth potential, FOMO and all of that kind of stuffs.   

[toknormal]

People who were there in 2013 know that a 10 times quick pump is totally possible.

...only if the pump is driven by an insolvent exchange trading "fake" BTC that it doesn't have  

Like Bitfinex or ?

MT Gox.

I think once the Gox debacle became public, people looked back and saw the 2013 high in a different light and that it would never have got so high without the fake trading on Gox. (Thats also why it crashed so hard and for so long).

[Gleb Gamow]

Wall post!

PM me when it reaches 696.0 BTC.