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

[HI-TEC99]

Why aint we going up up

Were going down 🙄🙄🙄🙄

We're not going up or down, wee're going sideways. I'm grateful for that because rapid price swings over extended periods of time get too stressful.

Coinbase users must also be grateful for the sideways movement because they could lose a fortune if a big price swing occurs while it's down.

[1614465272]

1614465272

[1614465272]

1614465272

[Dabs]

So what would you guys do. Imagine, you have created a startup which got 150 million funds in ETH? Just joking,its obvious!  
Would you sell it all immediately or would you sell it over the course of a month? How would you sell this 150 million?

As others have said, BTC isn't affect by this no matter what they do, but supposing I had 150 million worth of ETH I'd cash out some parts of it to to fiat at a rate of 8000 a day, or 160k per month, per exchange that has an ETH/fiat pair, regardless of fiat.

I have a few in mind I can max out on, and of course I have a couple in my country that doesn't really care what I do with it.

Some I will trade with whales or some dark pool trade or whatever. Some I will put in paypal accounts or similar things. Put a few thousands in purse and the other gift card sites. Put in the top 10 casinos that accept "investments".

Some I will put in assorted alts, just to hedge left and right, maybe a few millions in each of the top 20.

Then for the fiat, I'll put in traditional investments that give maybe 2% to 5% to 10% annual return in the form of capital gains or dividends (not just pure interest). Those get appropriately reported to the tax man.


There's a million other things to do with it too. Of course, maybe since I have the startup, I should actually do what we were supposed to do, unless I said "I'm doing nothing, so here is our address." Because people will send to an ICO no matter how stupid it is. Just have a little marketing and hype and boom ... somebody is an uncle. Bob?

[Iranus]

Why aint we going up up

Were going down 🙄🙄🙄🙄

We're not going up or down, wee're going sideways. I'm grateful for that because rapid price swings over extended periods of time get too stressful.

Relative to alts, we're going up significantly.  Ether is down quite a bit over the last couple of days.

It's clear that Ether has reached its peak, and now that people are realising SegWit activation is likely to be soon it seems pointless except for temporary ICO hype which is frankly embarrassing to blockchain technology considering how shit most of these projects are.

I see the sideways movement as very positive, not neutral.  Especially when it's rose so much over the last couple of months.

[elite3000]

Is anyone else surprised the market hasn't responded more positively to the recent developments RE:segwit?

Still plenty of time to things change for better or worse. I'm not surprised that nothing changed marketwise.

[Dakustaking76]

Why aint we going up up

Were going down 🙄🙄🙄🙄

We're not going up or down, wee're going sideways. I'm grateful for that because rapid price swings over extended periods of time get too stressful.

Relative to alts, we're going up significantly.  Ether is down quite a bit over the last couple of days.

It's clear that Ether has reached its peak, and now that people are realising SegWit activation is likely to be soon it seems pointless except for temporary ICO hype which is frankly embarrassing to blockchain technology considering how shit most of these projects are.

I see the sideways movement as very positive, not neutral.  Especially when it's rose so much over the last couple of months.

Let the fall stop its going were we started lol😱😱😱 kraken €2340 almost stop iT stop iT

Panic panic panic panic 😁😁😁😁

[JayJuanGee]

Why aint we going up up

Were going down 🙄🙄🙄🙄

We're not going up or down, wee're going sideways. I'm grateful for that because rapid price swings over extended periods of time get too stressful.

Relative to alts, we're going up significantly.  Ether is down quite a bit over the last couple of days.

It's clear that Ether has reached its peak, and now that people are realising SegWit activation is likely to be soon it seems pointless except for temporary ICO hype which is frankly embarrassing to blockchain technology considering how shit most of these projects are.

I see the sideways movement as very positive, not neutral.  Especially when it's rose so much over the last couple of months.

I am having a bit of a difficulty considering exactly what is our current BTC price range that should be considered as sideways.  There is so much going on right now in regards to the multiple forks and threats of forks... It's confusing the fuck out of me.

About a week ago, I was considering about $2,250 and $2,650 to be the BTC trading range and that a break above $2,650 meant that we were going to be testing $3k - but then the subsequent news has kind of screwed up the price range and the journey towards testing $3k - and  even seems to have increased the possibility of a break downwards.

Maybe currently, we can define sideways as anywhere between $2,500 and $2,750?

Regarding the segwit2x situation, initially, I thought that news was bullish because likely the market was thinking that we would be getting segwit in some kind of meaningful and certain form - however, now, there is some lack of clarity about either getting a meaningful kind of segwit and even if some kind of watered down segwit within segwi2x might involve some inferior code that is not really equivalent to the actual segwit. 

Hardly anyone is going to run untested code, so it had seemed that getting segwit was going to mean running core code that has already been vetted and tested.

So, maybe the market is kind of responding to the first mistaken revelation of positive news that was based on confusing assumptions regarding what they were getting and what code was going to be adopted and seems to be turning out to be a bit more of a shit show than previously expected because there seems to be some lack of clarity regarding what code seg wit is going to be implemented first and will the running of such code be sufficient to cause a form of consensus.. or end up forking in some kind of way.

So signalling 82% does not mean the same thing as running a version of segwit code that allows for resolution and actual sufficient hashpower consensus.

[sosasnois]

Tricklin down a bit too much for my liking.

Hopefully it won't go down further.

[mymenace]

Why aint we going up up

Were going down 🙄🙄🙄🙄

stock markets around the world had a sharp fall

market evaluating if this impacts bitcoin

scared investors dumping ethereum

my speculation

[elebit]

Some seem remarkably dismissive of the shift - does this reflect its unimportance, or their defence mechanism against a situation they were sure would not occur?

Sure, suppose the ICO craze spreads even further. It carries the ETH price to a thousand bucks. Or several. Whatever. Something extreme.

What exactly have shifted? Will your BTC be worthless? No. Will the companies and services go away? No. Or consider the other way around, there is a new DAO and now it's worth fifty cents. BTC doesn't care.

For a something supposedly declared obsolete, altcoin shills sure have a fixation with Bitcoin...

[elebit]

It's clear that Ether has reached its peak, and now that people are realising SegWit activation is likely to be soon it seems pointless except for temporary ICO hype which is frankly embarrassing to blockchain technology considering how shit most of these projects are.

There's also the fact that every time Ethereum comes close to Bitcoin in the number of transactions processed, exchanges needs to shut down ETH processing completely and wait for it to blow over.

Imagine if Bitcoin was like that. "No, I can't pay you right now because Bitcoin is down."

I think people are catching on to the fact that if Bitcoin doesn't scale then Ethereum really, really doesn't scale.

[gentlemand]

There's also the fact that every time Ethereum comes close to Bitcoin in the number of transactions processed, exchanges needs to shut down ETH processing completely and wait for it to blow over.

Any idea what's different about the mechanisms that creates that problem? I know nothing about how ETH works. When I peruse a forum on it I feel like your old auntie looking at a Bitcoin forum because she has to pay her revenge porn ransom.

[Torque]

Someone is gunning for sub 2600. My bet is on a bounce upward from there.

[megashira1]

Seems strange bitcoin price is declining given Segwit optimism and ETH implosion.

Any information im missing here?

[JayJuanGee]

Seems strange bitcoin price is declining given Segwit optimism and ETH implosion.

Any information im missing here?

Maybe it's a fake out?

[keithers]

Were any of you lucky enough to swap out some BTC to ETH during that flash crash?  I'm reading around that it briefly touched $13.   What a steal...I'm sitting in front of a computer all day at work and I can't believe I missed it.   I usually have the charts up on at least one of my windows on one of my screens while I'm doing other work.

Coinbase stopped trading pretty quickly it looks like though...

[gentlemand]

Were any of you lucky enough to swap out some BTC to ETH during that flash crash?  I'm reading around that it briefly touched $13.   What a steal...I'm sitting in front of a computer all day at work and I can't believe I missed it.   I usually have the charts up on at least one of my windows on one of my screens while I'm doing other work.

Coinbase stopped trading pretty quickly it looks like though...

What is it about GDAX that attracts the grottiest traders? There's been an incredibly clumsy Bitcoin trader on there for ages now too spoofing things all over the place. Maybe they have a special section for sub teenagers.

[Elwar]

Seems strange bitcoin price is declining given Segwit optimism and ETH implosion.

Any information im missing here?

The jump over $2700 was a bit quick. We were in the $2500s just 2 days ago. Quick jumps come with sell offs.

[Torque]

There's also the fact that every time Ethereum comes close to Bitcoin in the number of transactions processed, exchanges needs to shut down ETH processing completely and wait for it to blow over.

But... bbut... but ETH better, faster, more powerful than Bitcoin! Right??

It'll have none of Bitcoin's problems at scale! Right?? Guyz?? /s

[Elwar]

I am thinking that Core not supporting SegWit2x may be because after SegWit is activated, all eyes will be on them to raise the block size to 2mb. By not supporting it they can push for just moving on with SegWit and LN instead. They are also balking at the 3 month timeline which is not a lot of time for testing something that would fork the chain.

I can also see that the miners are agreeing to this compromise because they see that BIP148 will probably get SegWit activated so they might as well try to get the 2mb if they can.

Either way, it's looking like we will have SegWit some time around August.

[JayJuanGee]

I am thinking that Core not supporting SegWit2x may be because after SegWit is activated, all eyes will be on them to raise the block size to 2mb. By not supporting it they can push for just moving on with SegWit and LN instead. They are also balking at the 3 month timeline which is not a lot of time for testing something that would fork the chain.

I can also see that the miners are agreeing to this compromise because they see that BIP148 will probably get SegWit activated so they might as well try to get the 2mb if they can.

Either way, it's looking like we will have SegWit some time around August.

Yeah, but what code is going to be run?

Will it be the segwit tested code or some inferior variation?