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

[Torque]

Isn't it easier to keep it permanently suppressed?

In order to keep it suppressed, you have to continually short with huge amounts of margin. And if you are doing that, that money is not growing, it's being burned when it could be invested elsewhere. The wealthy are *always* seeking a positive return on their money, even if it is like 1%. Because 1% per year of a billion dollars is still a lot of gain.

Also remember that the combined purchasing power of an exponentially-growing base of long investors will eventually overpower a smaller pool of shorts. When liquidity starts to dry up, that's when significant short squeezing can occur.

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[JimboToronto]

Good morning ladies and gentlemen of Bitcoinland.

I see we had our first real correction/profit-taking since passing passing $800 and it was pretty lame.

We're almost all the way back to where we were when I went to bed... $868USD at Bitcoinaverage.

This bull run doesn't want to quit just yet.

Keep on rollin'.

[GoWest]

Hey folks. Still here after 5 1/2 years. I cashed out most of my coins at $300 but still hold a small position. Exciting to finally see the 2013 high threatened.

After trading through the previous bubbles ($32, $266, $1100 or whatever it was) I think this time we make it to $2150 before the big pop, and settle in the low $1000s.

Good luck to everyone and congrats to longs.

[Dafar]

Good morning ladies and gentlemen of Bitcoinland.

I see we had our first real correction/profit-taking since passing passing $800 and it was pretty lame.

We're almost all the way back to where we were when I went to bed... $868USD at Bitcoinaverage.

This bull run doesn't want to quit just yet.

Keep on rollin'.

Quit? We just started.... 



This is like pre-November 2013 rally.... except this time we are doing it right and bitcoin actually deserves to be in this price range

[Cassius]

So what happens over Christmas when there are several days banks are closed and traders can't deposit fiat but can deposit BTC? Selling becomes a lot easier than buying at that point. Is there a precedent for that pattern?

Edit: not conclusive.
https://bitcoincharts.com/charts/bitstampUSD#rg60zigHourlyzczsg2015-12-20zeg2016-01-05ztgSzm1g10zm2g25zv

[strawbs]

Number 1 top trending story on Reuters at the moment (UK edition):

"Bitcoin's total value hits record high above $14 billion"
http://uk.reuters.com/article/uk-global-markets-bitcoin-idUKKBN14B1HD

[Gyrsur]

Number 1 top trending story on Reuters at the moment (UK edition):

"Bitcoin's total value hits record high above $14 billion"
http://uk.reuters.com/article/uk-global-markets-bitcoin-idUKKBN14B1HD

this can mean just one thing!

M O O N

[TheDasher]

Anyone have a link to the google docs chart that circulated around in 2014 outlining a standard technology adoption curve and with bitcoins price mapped along side?

There are some threads here. I ve done a simple log log chart normalizing the exponential adoption very good:



https://bitcointalk.org/index.php?topic=800330.msg17016542#msg17016542


Yes I need to update this and add a proper timescale at bottom...but you can imagine, below 1000 = nothing happened!

Thanks for this but this is not what i was referencing.  There was a publicly accessible google docs spreadsheet/chart which had in it a technology adoption curve and along side of it the bitcoin price mapped.  What it showed is that bitcoin dipped below the tech adoption trendline and surged above it but kept fairly close.  I cant remember exactly but it had bitcoin at around 50k or 100k around the beginning of 2017.  Id love to find that link again.

[PoolMinor]

Anyone have a link to the google docs chart that circulated around in 2014 outlining a standard technology adoption curve and with bitcoins price mapped along side?



Thanks for this but this is not what i was referencing.  There was a publicly accessible google docs spreadsheet/chart which had in it a technology adoption curve and along side of it the bitcoin price mapped.  What it showed is that bitcoin dipped below the tech adoption trendline and surged above it but kept fairly close.  I cant remember exactly but it had bitcoin at around 50k or 100k around the beginning of 2017.  Id love to find that link again.

https://bitcointalk.org/index.php?topic=178336.msg17262021#msg17262021

[TheDasher]

Anyone have a link to the google docs chart that circulated around in 2014 outlining a standard technology adoption curve and with bitcoins price mapped along side?



Thanks for this but this is not what i was referencing.  There was a publicly accessible google docs spreadsheet/chart which had in it a technology adoption curve and along side of it the bitcoin price mapped.  What it showed is that bitcoin dipped below the tech adoption trendline and surged above it but kept fairly close.  I cant remember exactly but it had bitcoin at around 50k or 100k around the beginning of 2017.  Id love to find that link again.

https://bitcointalk.org/index.php?topic=178336.msg17262021#msg17262021

Thats exactly what I was talking about.  Thank you.  Seems that it tops out at a million in 2017.  We have a ways to go lol

[BTCtrader71]

Anyone have a link to the google docs chart that circulated around in 2014 outlining a standard technology adoption curve and with bitcoins price mapped along side?

There are some threads here. I ve done a simple log log chart normalizing the exponential adoption very good:



https://bitcointalk.org/index.php?topic=800330.msg17016542#msg17016542


Yes I need to update this and add a proper timescale at bottom...but you can imagine, below 1000 = nothing happened!

Thanks for this but this is not what i was referencing.  There was a publicly accessible google docs spreadsheet/chart which had in it a technology adoption curve and along side of it the bitcoin price mapped.  What it showed is that bitcoin dipped below the tech adoption trendline and surged above it but kept fairly close.  I cant remember exactly but it had bitcoin at around 50k or 100k around the beginning of 2017.  Id love to find that link again.

Are you perhaps looking for a graph done by Stephen Reed? See this very nice 2013 thread of his:

https://bitcointalk.org/index.php?topic=366214.0

[TheDasher]

Yup, thats the one.  Thanks.

[abercrombie]

[JayJuanGee]

Looks like open highway to $900.  Will have to see if the Jews try to implode it and form a double top in the $1000s or if they want to force people into bitcoin instead of gold and silver and thus allow it to keep going to the moon.  Silver market is not much bigger than bitcoin so at some point they're either coming after bitcoin too, or they'll want everyone in bitcoin instead since it's easier to regulate and tax.

Yes but in order to control bitcoin, they first need a ETF/derivatives market for bitcoin so they can inflate the crap out of it and gain control of all the levers. But no real such market for bitcoin really exists yet.  So the best they can do is slow down the growth of bitcoin. And the best way to do that? Pump it to the moon, then crash it.  Makes people stay away for a while.  

That is partly reasonable and partly crazy.

The first half seems reasonable, but the crazy part is paraphrased from you as: "the best way to slow down bitcoin's growth is pumping it to the moon, then crashing it"... hm?  does that sound reasonable to you or conspiratorial fantasy land crazy?

[rjclarke2000]

What's the prediction from you all for the next 12 hours? Slowly back down a little or back on the choo choo?

[JayJuanGee]

Isn't it easier to keep it permanently suppressed?

In order to keep it suppressed, you have to continually short with huge amounts of margin. And if you are doing that, that money is not growing, it's being burned when it could be invested elsewhere. The wealthy are *always* seeking a positive return on their money, even if it is like 1%. Because 1% per year of a billion dollars is still a lot of gain.

Also remember that the combined purchasing power of an exponentially-growing base of long investors will eventually overpower a smaller pool of shorts. When liquidity starts to dry up, that's when significant short squeezing can occur.

Maybe this demonstrates some of the tension in your thinking?  You seem to be assuming profits from a narrow perspective.  Whether you are a big financial institution or a government, you may calculate that it is worth it to you to lose millions and even billions of dollars in order to suppress your competition (aka bitcoin)

Bitcoin's market cap is so small, that it is much easier to lose money in suppressing bitcoin and still remain overall profitable from achieving such suppression.

[Torque]

Looks like open highway to $900.  Will have to see if the Jews try to implode it and form a double top in the $1000s or if they want to force people into bitcoin instead of gold and silver and thus allow it to keep going to the moon.  Silver market is not much bigger than bitcoin so at some point they're either coming after bitcoin too, or they'll want everyone in bitcoin instead since it's easier to regulate and tax.

Yes but in order to control bitcoin, they first need a ETF/derivatives market for bitcoin so they can inflate the crap out of it and gain control of all the levers. But no real such market for bitcoin really exists yet.  So the best they can do is slow down the growth of bitcoin. And the best way to do that? Pump it to the moon, then crash it.  Makes people stay away for a while.  

That is partly reasonable and partly crazy.

The first half seems reasonable, but the crazy part is paraphrased from you as: "the best way to slow down bitcoin's growth is pumping it to the moon, then crashing it"... hm?  does that sound reasonable to you or conspiratorial fantasy land crazy?

And you don't think that's exactly what they did with Gold since 2008? Just look at that 10 yr chart... which is why no one is really all that excited about the Gold market right now even though Gold is supposedly seen as a "safe haven". There's actually fear in the Gold market, when right now it should be the exact opposite.

[spud21]

What's the prediction from you all for the next 12 hours? Slowly back down a little or back on the choo choo?

Normally I would predict it's going back down a little to a previous resistance. However the choo choo is strong in this pump and the honey badger doesn't give a fuck, so I predict choo choo for the next 12 hours.

[rjclarke2000]

Previous resistance $800?

[Araudan]

Hello guys !

I hope someone will answer my question, I try my luck..

1/ What's your sentiment about the future price of the bitcoin ?
These days the pump is insane...

2/ Last, the bitcoin price is depending about what ?

Thank you