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

[bitcoinminer42]

Welcome back $900! 

But for how long?

Back in January, 17, price broke $900 too, but for few hours only, then went back to $850 because of the PBOC's tweet

Sentiment world wide is very bullish, only a major hack ore China final regulation ban will make the price go down.

Or a fork.

Shhhhhhhh!

[yefi]

Anyone else noticed Coinmarketcap axed Xbtce from its volume rankings? Good thing - supposedly top volumes on BTC and others, yet who ever heard of them before?

[the artful bodger]

Anyone else noticed Coinmarketcap axed Xbtce from its volume rankings? Good thing - supposedly top volumes on BTC and others, yet who ever heard of them before?

Bitcoinity never included Xbtce in its volume rankings, or in any of its charts. It mustn't have heard of them.

[Paashaas]

Mega 2.0 delayed...



https://twitter.com/KimDotcom/status/822147849068515329

[Elwar]

Mega 2.0 delayed...



https://twitter.com/KimDotcom/status/822147849068515329

He has been a lot of talk and no specifics or sneak peeks. I wouldn't doubt if some excuse comes along where he never releases it.

[600watt]

Mega 2.0 delayed...



https://twitter.com/KimDotcom/status/822147849068515329

He has been a lot of talk and no specifics or sneak peeks. I wouldn't doubt if some excuse comes along where he never releases it.

kinda glad the guy named himself dotcom and not bitcoin...

[JayJuanGee]

https://twitter.com/cnLedger/status/822030533513199616

OKcoin stops margin trading.

So I'm starting to wonder... did PBoC really do us long investors a favor?

I'm sensing some major bullish announcements in the Bitcoin ecosystem on the horizon early this year.  Specifically new platforms (i.e., Abra, Mega Upload 2, etc.), perhaps some high profile merchant adoptions, ETF launch, who knows what.

But what we all DO know is that some mega whale traders usually have insider knowledge well in advance, typical 6-12 months in advance.  So what they do is slowly ramp the market over that time period, then near the announcements (before the news media picks it up) go ape shit crazy with leveraged margin buys to create a new bubble.  

Whatever you may believe in the short term, an over-leveraged, over-hyped bubble is not good for the medium and long term.

So did China PBoC just do us a short-term favor by killing margin trading on the Chinese exchanges? The suspect timing is palpable.... it's almost as if they knew something.

Either that, or they did it because secretly they know that they are going to start hiking down the Yuan rate several times this year... and they don't want more $$$ to leave via bitcoin.

I sometimes wonder how you can say several smart things about the overall dynamics, but then end up getting into such narrow theories about causation, to act as if only a few entities control BTC's price direction.

Surely a lot of the points that you are making have some truth in them, but even bigger players are going to have some questions or concerns regarding the extent to which they can preplan events to occur, to time them correctly and attempt to capitalize on "insider knowledge" and the extent to which such correction momentum will work for them and questions regarding the extent to which the price can move back up after such correction momentum is started.

I agreed that in the end, this latest price correction was likely beneficial to the overall BTC price performance, and those of us who either HODLed or bought more are likely benefiting from such volatility, but I don't agree with your seemingly continuing attempts to characterize these kinds of situations as if they were being controlled by a small number of insiders... that's just bullshit, even if there is some truth that some players have more power and influence than others, no small group has any kind of exact control over the situation nor over how certain of their own behaviors are going to play out from momentum that is provided in either direction.

[JayJuanGee]

Welcome back $900! 

But for how long?

Back in January, 17, price broke $900 too, but for few hours only, then went back to $850 because of the PBOC's tweet

Sentiment world wide is very bullish, only a major hack ore China final regulation ban will make the price go down.

Or a fork.

Shhhhhhhh!

Without giving too many ideas to bitcoin sabotagers, bears and shorters, there are a lot of FUD related matters that could cause BTC prices to return downwards, but I agree that the overall likelihood is seemingly upwards and there continues to be ongoing and decent buying pressures.. that seems pretty likely to at least get us to testing resistance at $1,000. 

I actually think that resistance at $1,000 is going to be a bit stronger this time as compared with what it was (or anticipated to be) in the first time around at the beginning of the year... I hope to be wrong and we just fly right through $1,000, but stronger resistance this time is my current sense of things..

[JayJuanGee]

Mega 2.0 delayed...



https://twitter.com/KimDotcom/status/822147849068515329

He has been a lot of talk and no specifics or sneak peeks. I wouldn't doubt if some excuse comes along where he never releases it.

I would not completely blame this guy for some of the delays and some of the seeming contradictions in his various public assertions.

My understanding is that since he is a known person, he has been getting a considerable amount of targeting by varying government officials (I think mostly USA govt), and a large number of his assets have been seized.. so therefore, sometimes it can become tough for folks like this to operate or attempt to operate quasi-decentralized entities that buck a variety of traditional data and/or financial institutions.. which in this case also seems to include considerable redistribution of wealth potential, which is likely to get a few peeps upset (especially some peeps whose property/wealth could become redistributed... hahahahaha)

[Slark]

Mega 2.0 delayed...

https://twitter.com/KimDotcom/status/822147849068515329

It is better for MU2.0 to be delayed than to be released early and fail miserably and as a result bitcoin price might drop.
I would gladly wait couple more months if I knew that this service will be groundbreaking innovation.

[Torque]

but I don't agree with your seemingly continuing attempts to characterize these kinds of situations as if they were being controlled by a small number of insiders... that's just bullshit, even if there is some truth that some players have more power and influence than others, no small group has any kind of exact control over the situation nor over how certain of their own behaviors are going to play out from momentum that is provided in either direction.

@JJG - Until Bitcoin's marketcap is north of $100B and permeates world society to a greater degree than today, I will continue to respectfully disagree with you on this.  

With Bitcoin being such a thinly traded market with low liquidity, currently it's cake for a few colluding whales with $$Millions in play money to move the bitcoin market significantly using 100X max leverage.

This is a fact, not fiction.

[JayJuanGee]

but I don't agree with your seemingly continuing attempts to characterize these kinds of situations as if they were being controlled by a small number of insiders... that's just bullshit, even if there is some truth that some players have more power and influence than others, no small group has any kind of exact control over the situation nor over how certain of their own behaviors are going to play out from momentum that is provided in either direction.

@JJG - Until Bitcoin's marketcap is north of $100B and permeates world society to a greater degree than today, I will continue to respectfully disagree with you on this.  

With Bitcoin being such a thinly traded market with low liquidity, currently it's cake for a few colluding whales with $$Millions in play money move the bitcoin market significantly using 100X max leverage.

This is a fact, not fiction.

I guess that we are just going to continue to battle over characterizations and weighting of these kinds of influences.

I certainly agree with you that having a market cap between $10billion and $20 billion is certainly small and certainly capable of a large amount of manipulation.  I also agree with you that there may be some undue influences on bitcoin prices that can emanate from just a few exchanges in which big players may have some decent insider knowledge and practices in which they can employ strategies to play the market to their favor.  In any event, I still think that you tend to dwell too much on these kinds of agreed to facts to give them much more weight than they deserve and then you go on to speculate specific kinds of theories that this happened and that happened in order to cause.. $888 blah blah blah..

So, maybe in the end we agree about 90% or more of facts and dynamics etc, but I still think that the 10% or so that we disagree upon cannot be left without comment from me, because I think that some of that tends to lead you into some ridiculousialandia.... I suppose in the end, each of us will just keep on keeping on with some of our theories and characterizations, and hopefully, each of us end up profiting from at least sharing in being BTC hodlers and accumulators.. even though we may disagree in some of the theories about how we got RICHIE.       

[Meuh6879]

Or a fork.

[coins101]

Whose got control of adamstgBit account and is censoring around here?

[European Central Bank]

Whose got control of adamstgBit account and is censoring around here?

does anyone? i thought it was abandoned. it'll be the mods who're hard at work.

[K~Ehleyr]

Wow, what caused that little lurch downwards??

[Killerpotleaf]

target 845?

[Ted E. Bare]

target 845?

Or 945?

[Master mind]

Wow, what caused that little lurch downwards??

[becoin]

There will be new ATH beyond $1150 next month.