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

[European Central Bank]

News URL : https://coin-etf.com/

weird move. i'd be keeping it under my hat until i knew for sure it was gonna happen. still, i guess it keeps people excited.

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[JayJuanGee]

Has anyone seen this, i.e. the Bitcoin Megabull Cycle prediction?

Anyone noticed the increase in hashrate this year ?

Incredible.

This website has a better overview.

Dec 31 2015   103,880,340,815   11.16%   743,604,444 GH/s
.....
Dec 02 2016   286,765,766,821   1.76%   2,052,749,317 GH/s

~176% increase.

I had not seen that megabull prediction, and it is pretty interesting, and will be more interesting if any of the targets are reached, and quite spectacular if any of the upside targets play out.

By the way, upside targets for peaking by February 16, 2017 are interesting, too.

>>>>>Potential ATH             Targets are:
$2,661 USD
$4,200 USD
$5,276 USD
$8,720 USD
$14,000 USD <<<


Regarding the ongoing increases in the hashrate... it is really ironic that all the post halvening exiting of miners is still causing the hashrate to increase on an ongoing basis and pretty much at the same levels as it increased prior to the halvening, ironic.   


 

[JimboToronto]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

[0xfff]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

[Torque]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Well JJG says somewhere between $3K to $5K.  I'm sure that any day now he'll provide some detailed analysis as to why he thinks that, as well as give us some exact dates as to when it will happen.  Still waiting....   

[becoin]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

10x$2000

[JayJuanGee]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Well JJG says somewhere between $3K to $5K.  I'm sure that any day now he'll provide some detailed analysis as to why he thinks that, as well as give us some exact dates as to when it will happen.  Still waiting....  

Hahahaha...

By your earlier "China" post, I was beginning to consider that maybe, just maybe, you, Torque, could have had a decent sense of humor, but instead you are going back to your nonsense trolling and your kind of butt hurt communications.

By the way, my posts tend to stand on their own, and I am more than willing to provide further context to any post, if there is an attempt at a genuine conversation, rather than just trolling.  Accordingly, I don't really need to provide any further details than what I have already provided in my several posts on the price direction topic because there are a lot of other folks who are much more artful and technical than me who are making all kinds of decent and reasonable predictions (and even bullish), including the link to the Megabull prediction provided by Lauda, above.  https://bitcointalk.org/index.php?topic=178336.msg17119750#msg17119750


Yes, take each and every one of these kinds of predictions of future BTC price directions with a grain of salt because they may capture a certain moment or capture a certain then existing dynamics (at the time of the posting) and as within a spectrum of possibilities that may or may not play out, but may need to be tweaked under changing circumstances.

 

[Spaceman_Spiff]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Price didn't go to 2000 (not on an exchange with normal liquidity anyway)

[JimboToronto]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Price is so high? It's not even where it was 3 years ago.

Poor folks bought at $2000? I'll assume that's a typo. It's never been close to $2000. Even $1200 was an extremely short-lived bubble, largely assisted by Willybot. I'm sure far, far more people bought for less than $100 than paid over $1000. There might even be more here who bought for under $10.

How much higher can it go? Obviously a lot higher. If you look at any long-term logarithmic charts, you'll see that Bitcoin is currently undervalued, scraping at the bottom of the range of its trendlines. Don't ask me to make specific predictions but it has a lot of upward catching up to do.
___________

Why are bears/trolls so preoccupied with the small handful of people who paid more than the current price?

[Dafar]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Well JJG says somewhere between $3K to $5K.  I'm sure that any day now he'll provide some detailed analysis as to why he thinks that, as well as give us some exact dates as to when it will happen.  Still waiting....   

I wouldn't be calling anyone out on predictions if I were you.... did I not batter you enough?

[Torque]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

Well JJG says somewhere between $3K to $5K.  I'm sure that any day now he'll provide some detailed analysis as to why he thinks that, as well as give us some exact dates as to when it will happen.  Still waiting....  

Hahahaha...

By your earlier "China" post, I was beginning to consider that maybe, just maybe, you, Torque, have a decent sense of humor, but instead you are going back to your nonsense trolling and your kind of butt hurt communications.

I don't really need to provide any further details than what I have already provided in my several posts on the topic because there are a lot of other folks who are much more technical than me who are making all kinds of predictions that are reasonable, including the link to the Megabull prediction provided by Lauda, above.  https://bitcointalk.org/index.php?topic=178336.msg17119750#msg17119750


Yes, take each and everyone of these kinds of predictions with a grain of salt and as within a spectrum of possibilities that may play out, but may need to be tweaked under changing circumstances.


I do  

Ok, I think we're cool now JJG.  As long as you finally realize that a) speculation is just that, pure BS speculation, and b) that not everyone that disagrees with you or has an opinion that differs from yours is "trolling" the forum.  

By your post history, you seem to believe that everyone here that might have a short term bearish sentiment is a mere bear/troll account that needs calling out, which is just not true.  

As a long time permabull that has outlasted many others on this sub forum, I get prickly whenever someone tries to call me out on some short term bearish sentiment I may have (which I don't have right now) depending on the day, and try to paint me as a troll.  I can guarantee I'm a bigger long term bull than you and many others are. It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.

That being said, though, just throwing numbers out there with no data to even remotely try to back it up is nothing more than uninformed cheerleading.  Which is fine, just call it for what it is.

[600watt]

Good mornin' Bitcoinland.

Still going flat sideways for a week now... $777USD/$1027CAD.

Coiling for a big move in which direction? My guess (surprise, surprise!) is up.

I don't want to ruin the hype but who is buying when the price is so high? I see $777 and all I can think about is those poor folks who bought at $2000. How much higher do you think it is going to go?

are you a time traveller? you care about those who bought @$2000? price never went so high or did i miss new ath spike since yesterday?

[JimboToronto]

It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.

I fully agree with that. While it was over $1k 3 years ago, that was an artificial high.

Follow the exponential rise from a fifth of a penny in May 2010, through dime later that year, a dollar several months later, bubbling up past $39 in the Great Bubble only to settle in at over $2 later that year, then less than half a year later setting a new ATH at $266 during the second major bubble, only to drop to $50, and then reach $1200 during the 3rd big bubble.

The peaks of the 3 mega-bubbles all rose above the trend lines and were quickly brought back down to earth. Since then we've been substantially below the trend lines and are only recently recovering. The 2014-2015 prices in the $200s were as much an anomaly as the prices in the $5-$10 range were in 2012.

Of course Bitcoin is undervalued now. We have a lot of catching up to do.

[Karartma1]

It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.

I fully agree with that. While it was over $1k 3 years ago, that was an artificial high.

Follow the exponential rise from a fifth of a penny in May 2010, through dime later that year, a dollar several months later, bubbling up past $39 in the Great Bubble only to settle in at over $2 later that year, then less than half a year later setting a new ATH at $266 during the second major bubble, only to drop to $50, and then reach $1200 during the 3rd big bubble.

The peaks of the 3 mega-bubbles all rose above the trend lines and were quickly brought back down to earth. Since then we've been substantially below the trend lines and are only recently recovering. The 2014-2015 prices in the $200s were as much an anomaly as the prices in the $5-$10 range were in 2012.

Of course Bitcoin is undervalued now. We have a lot of catching up to do.

agreed.  It is undervalued indeed but the value is showing so much maturity. Volatility seems a thing of the past: it will come back eventually but we saw much happening recently and price is still keeping up. To me that's good. I predicted 850 by the end of the year. We still have time

[the artful bodger]

It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.

I fully agree with that. While it was over $1k 3 years ago, that was an artificial high.

Follow the exponential rise from a fifth of a penny in May 2010, through dime later that year, a dollar several months later, bubbling up past $39 in the Great Bubble only to settle in at over $2 later that year, then less than half a year later setting a new ATH at $266 during the second major bubble, only to drop to $50, and then reach $1200 during the 3rd big bubble.

The peaks of the 3 mega-bubbles all rose above the trend lines and were quickly brought back down to earth. Since then we've been substantially below the trend lines and are only recently recovering. The 2014-2015 prices in the $200s were as much an anomaly as the prices in the $5-$10 range were in 2012.

Of course Bitcoin is undervalued now. We have a lot of catching up to do.

The gox hack and auctions followed by bitstamp hack facilitated those prices in the $200s. Although I thought the finex hack would suppress the price for longer, the bullish sentiment of the community and the halving contributed to a fast recovery. Hopefully the halving effects will keep pumping the price during 2017.

[mymenace]

It's my opinion that we should have been well north of $1K many years ago, that's how much I think bitcoin is undervalued right now.

I fully agree with that. While it was over $1k 3 years ago, that was an artificial high.

Follow the exponential rise from a fifth of a penny in May 2010, through dime later that year, a dollar several months later, bubbling up past $39 in the Great Bubble only to settle in at over $2 later that year, then less than half a year later setting a new ATH at $266 during the second major bubble, only to drop to $50, and then reach $1200 during the 3rd big bubble.

The peaks of the 3 mega-bubbles all rose above the trend lines and were quickly brought back down to earth. Since then we've been substantially below the trend lines and are only recently recovering. The 2014-2015 prices in the $200s were as much an anomaly as the prices in the $5-$10 range were in 2012.

Of course Bitcoin is undervalued now. We have a lot of catching up to do.

agreed.  It is undervalued indeed but the value is showing so much maturity. Volatility seems a thing of the past: it will come back eventually but we saw much happening recently and price is still keeping up. To me that's good. I predicted 850 by the end of the year. We still have time

bitcoin may be undervalued for multiple reasons

future use of bitcoin
future developing markets we may not yet see
current fiat not viable in the future
mining revenue
limitation on the amount of bitcoin
the block chain and its inherent values

whats important to remember is what is driving the current market and where is the new bottom price going to stabilize at, previous bottom averaged at $240 USD

[European Central Bank]

https://twitter.com/OneMorePeter/status/806941219846811648

you can buy bitcoin inside your blockchain.info wallet as of now. doesn't look horrifically expensive either. it's not for those americans with their horrible laws though.

[JimboToronto]

...the value is showing so much maturity. Volatility seems a thing of the past...

Maybe, but let's not forget that in 2012 volatility seemed to be done also. Then we had 2013.

I don't think we'll have quite the volatility as we had during the 3 great bubbles (or even last spring's micro-bubble) when it rocketed up in a few short weeks and plummeted just as quickly.

Hopefully the next bubble will take several months (or even years) instead of just weeks. The fractals of the bubbles are remarkably similar, but they are getting taller, longer, and with longer intervals between them.

Eventually one of them will be where the s-curve goes "vertical". Then the exponential growth phase will be done and the price will exponentially level off.

[Dafar]

...the value is showing so much maturity. Volatility seems a thing of the past...

Maybe, but let's not forget that in 2012 volatility seemed to be done also. Then we had 2013.

I don't think we'll have quite the volatility as we had during the 3 great bubbles (or even last spring's micro-bubble) when it rocketed up in a few short weeks and plummeted just as quickly.

Hopefully the next bubble will take several months (or even years) instead of just weeks. The fractals of the bubbles are remarkably similar, but they are getting taller, longer, and with longer intervals between them.

Eventually one of them will be where the s-curve goes "vertical". Then the exponential growth phase will be done and the price will exponentially level off.

When are we actually gonna pass ATH Jimbo?     

[JimboToronto]

The gox hack and auctions followed by bitstamp hack facilitated those prices in the $200s. Although I thought the finex hack would suppress the price for longer, the bullish sentiment of the community and the halving contributed to a fast recovery.

As the Bitcoin market matures, I think we'll see fewer short-term extreme upward surges and faster recoveries from the ensuing corrections.