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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21329362 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (104 posts by 20 users deleted.)
JimboToronto
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February 06, 2017, 04:27:47 PM

Good morning Bitcoinland.
 
Still hanging tough in quadruple digits... currently $1038USD (Bitcoinaverage).

It's been over $1000 for over 3 days now, its longest stretch that high this year.

It's almost starting to feel normal instead of feeling like a bubble as it did 3 years ago.

Onward and upward.
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February 06, 2017, 04:41:00 PM

$1000 is holding, that is a very bullish signal.

It is bullish, but only for the very short term. I think it's a good indicator that the price wants to re-test the $1130-40 level near the old Bitstamp ATH. But it's no guarantee that the price will cross that important mark.

The power of the bullish trend is slowly going away, so the most probable outcome for me is a double top (a new local high above $1100). $1100 should be a sure bet for now, but after passing that level I would be very careful - specially because of the still unsolved blocksize debate which is, if anything, a possible source of bad news that could emerge every day.

if that ETF thing gets approved and "somebody knows something" this would explain the somewhat strange coming back of the price after jan 5 drop - even with evaporating chines volume.

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.
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February 06, 2017, 04:55:32 PM

if that ETF thing gets approved and "somebody knows something" this would explain the somewhat strange coming back of the price after jan 5 drop - even with evaporating chines volume.

I have examined the history of the 2011 and 2013 bubbles a bit and you may be right - at least there is no real precedent for this price recovery, the outcome "should have been" more bearish (if we part from the hypothesis that history repeats itself). The most similar would have been the chart at the end of October 2013 when the price corrected sharply after nearly touching the $266 high and needed 11 days to get again at the same level. But in that moment, as far as I remember the sentiment in the general "bitcoiner" public was much more bullish than now.

For your theory to confirm, we need to wait a month Wink
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February 06, 2017, 05:10:56 PM
Last edit: February 06, 2017, 05:24:28 PM by Torque

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.

Yep, happened with every U.S. Marshall auction too.  But this time it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds).  And perhaps much of it won't be just a short term trade, but more long term investment?
LFC_Bitcoin
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February 06, 2017, 05:23:56 PM

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.

Yep, happened with every U.S. Marshall auction too.  But this time, it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds).  And perhaps much of it won't be just a short term trade, but more long term investment?

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.
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February 06, 2017, 05:27:18 PM

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.

They can't delay it any more. It's either a yes or a no by then. The longer it drags out, the more likely a yes as far as I can tell.
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February 06, 2017, 05:33:03 PM

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.

They can't delay it any more. It's either a yes or a no by then. The longer it drags out, the more likely a yes as far as I can tell.

Oh, thanks for that. I didn't know. Fingers crossed then, it'd be a monumental day for those of us who currently have bitcoin's stashed away.
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February 06, 2017, 06:11:22 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.
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February 06, 2017, 06:15:57 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF.
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February 06, 2017, 06:21:12 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF.

Precisely.
DeathAngel
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February 06, 2017, 06:23:51 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

Who cares if it pumps the price up massively? Can only be a good thing for us right?
Let the moron's buy through investment forms & we'll lap up the profits.
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February 06, 2017, 06:37:56 PM

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.

Yep, happened with every U.S. Marshall auction too.  But this time, it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds).  And perhaps much of it won't be just a short term trade, but more long term investment?

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.

Torque : I believe it will be more of a long term investment and it will give us an insane credibility.

LFC_Bitcoin : As I said it before brother, most probably it will go into auto-approval.
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February 06, 2017, 07:19:33 PM

Yes guys the ETF is a good step forward: let them buy paper bitcoin notes while we keep the real ones and benefit from the price increase. Rich guys want to be reassured and so be it: give them an ETF and we'll get to BRK.A price (credits to gembitz)
 Wink
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February 06, 2017, 07:31:23 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

Who cares if it pumps the price up massively? Can only be a good thing for us right?
Let the moron's buy through investment forms & we'll lap up the profits.


Well big pumps often ends with big corrections as we know from the previous ones.
I'm not a real big fan of that bubble growth and burst stuff.
More healthy, slow and steady is something I would always prefer.
But I know that this BTC rollercoaster ride will continue for some more years.As long as we build higher bottoms after that I will be happy.
Still dreaming of BTC growing like Berkshire A shares over the next 2-3 decades. Grin
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February 06, 2017, 07:33:48 PM

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.

Yep, happened with every U.S. Marshall auction too.  But this time, it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds).  And perhaps much of it won't be just a short term trade, but more long term investment?

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.

Torque : I believe it will be more of a long term investment and it will give us an insane credibility.

LFC_Bitcoin : As I said it before brother, most probably it will go into auto-approval.

Anything positive regarding mainstream adoption is good to me Fakhoury. Another step towards that moon trip. Hope you are well my old friend  Cool
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February 06, 2017, 07:42:02 PM

What I'm quite sure of is that if the ETF will be 100% approved, we will have a big or even huge bump before the 11th so that the ETF shares buyers don't buy the shares at a reduced price and make it pricey for them.

Yep, happened with every U.S. Marshall auction too.  But this time, it's more interesting, as China has effectively neutered 100X margin and free trades. That means the money won't be coming in from some small time whale pumpers on a few Chinese exchanges... it'll be coming in from actual big money (i.e., U.S. investment funds).  And perhaps much of it won't be just a short term trade, but more long term investment?

Long term investment would be much better for us. I'm desperate fr the ETF to be approved but we've been here before haven't we, many times.

I'm sure there will be a reason to reject or delay it again.

Torque : I believe it will be more of a long term investment and it will give us an insane credibility.

LFC_Bitcoin : As I said it before brother, most probably it will go into auto-approval.

Anything positive regarding mainstream adoption is good to me Fakhoury. Another step towards that moon trip. Hope you are well my old friend  Cool

Believe it or not my dear brother, I've a STRONG FEELING that we will have ETF approval.
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February 06, 2017, 07:47:52 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF.

Precisely.

0xfff
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February 06, 2017, 07:59:16 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF.

Precisely.



That makes about as much sense to me as wheels on a submarine.
600watt
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February 06, 2017, 08:23:01 PM

A Bitcoin ETF makes about as much sense to me as sails on a submarine.

There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF.

Precisely.

]http://www.boatdesign.net/forums/attachments/boat-design/55958d1302285343-submersible-sailboat-sailing-submarine.jpg
[/url]

That makes about as much sense to me as wheels on a submarine.

http://mikeshouts.com/wp-content/uploads/2011/03/Phil-Pauley-Pathfinder-image4-640x450px.jpg

 Wink
becoin
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February 06, 2017, 08:34:15 PM

I'm not a real big fan of that bubble growth and burst stuff.
More healthy, slow and steady is something I would always prefer.

Slow and steady growth is not possible. You can't have a slow and steady avalanche. So, get used to accelerated price rise as a result of avalanche-like adoption..
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