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

[Dabs]

This guy gets it. The blockchain's (er, Bitcoin's) killer app is Bitcoin.

https://twitter.com/Coinnoisseur/status/879468433850683392

I saw a video by Antonopoulos saying the same thing. He's got interesting videos on his youtube channel. Recent ones are about these ICOs.

[1614336301]

1614336301

[FractalUniverse]

looks like retest of yesterday's lows coming. Probably will go through; But i dont know if I dare to put my buy order @ 2200
maybe I'll wait until it settles a bit

.

edit> that was fast  finex already below yesterday

[r0ach]

This guy gets it. The blockchain's (er, Bitcoin's) killer app is Bitcoin.

Or the govt creating a federated chain to enslave you with a cashless society slave system, pick one.

[FractalUniverse]

stamp broke as well, only btc-e to go now

[ft73]

Moment of truth approaching ?

Bitstamp, RSI (14,close) on Hourly:


The area between the green dashed lines is "danger area".
Since June 21 price corrects when boundary gets crossed.
Curious about the outcome.

See yourself, "resistance" is clearly visible on 1H ( 4H as well ).

Seems another leg down to go.

[willope]

Bitcoin is dieded.
Another time.
Sell.
Panic.
Crash to $0.
Noone needs it.
Noone wants it.
Escape till you can.
...
 
 

Se you at $1000000/btc.

[Torque]

Keep an eye on the total crypto market cap.

If we break below the $97B cap and stay there for a while, the total crypto market downtrend will be confirmed.

At that point I think alts will start trading back into btc on every btc dip.

We hit $96B. Stay frosty my friends.

Down to $88B now. Alts are trading into btc on the dips, so Bitcoin dominance % still rising.  Good sign for bitcoin. Bad sign for Altlandia shitcoins.

[Torque]

This guy gets it. The blockchain's (er, Bitcoin's) killer app is Bitcoin.

Or the govt creating a federated chain to enslave you with a cashless society slave system, pick one.

No, FedCoin is still in development. Stay tuned. 

[starmman]

looks like retest of yesterday's lows coming. Probably will go through; But i dont know if I dare to put my buy order @ 2200
maybe I'll wait until it settles a bit

.

edit> that was fast  finex already below yesterday

CEX.IO only hit 2400. I think I need to start using a more volatile exchange

[Sniper44]

looks like retest of yesterday's lows coming. Probably will go through; But i dont know if I dare to put my buy order @ 2200
maybe I'll wait until it settles a bit

.

edit> that was fast  finex already below yesterday

CEX.IO only hit 2400. I think I need to start using a more volatile exchange

haha, you should have seen c-cex then. i sold bitcoin there @$2900 and am kicking myself why i didn't place the sell orders at $3100 because someone with fat fingers apparently did a cleanup buy all the way up there
i placed the sell order as a joke because i had nothing else to do and no altcoin to buy!

[machasm]

looks like retest of yesterday's lows coming. Probably will go through; But i dont know if I dare to put my buy order @ 2200
maybe I'll wait until it settles a bit

.

edit> that was fast  finex already below yesterday

CEX.IO only hit 2400. I think I need to start using a more volatile exchange

haha, you should have seen c-cex then. i sold bitcoin there @$2900 and am kicking myself why i didn't place the sell orders at $3100 because someone with fat fingers apparently did a cleanup buy all the way up there
i placed the sell order as a joke because i had nothing else to do and no altcoin to buy!

What sort of vol did you sell at that price just out of curiosity?

[JimboToronto]

Good morning Bitcoinland.

Missed yesterday's $200 dip and $150 recovery but it's still bouncing up and down like a yoyo... currently $2323USD (Bitcoinaverage).

It's not quite a deep enough dip for me to reallocate funds to buy into it but it's still an opportunity for anyone who missed the last big dip.
______

I figure that since most altcoins are bought with Bitcoin, noob suckers buying into the alt bubble drove the price of bitcoins up, buying them with their fiat.

It also figures that when the altcoin bubble burst, it would bring the price of Bitcoin down, as they sold for bitcoins which they then sold for fiat.

This would go a long way to explaining why on the way up, both rose quickly in price with alts rising faster, and on the way down down, both fell rapidly with alts falling faster and deeper.

[gentlemand]

I figure that since most altcoins are bought with Bitcoin, noob suckers buying into the alt bubble drove the price of bitcoins up, buying them with their fiat.

Aye, I'd say that was easily the biggest driver, especially on Localbitcoins.

I wonder what the aftermath of this alt bubble will look like. Essentially nothing much has been proven or established by any of them still. It's even more empty hype than before with the added extra of a potentially humongous price collapse.

[Sniper44]

looks like retest of yesterday's lows coming. Probably will go through; But i dont know if I dare to put my buy order @ 2200
maybe I'll wait until it settles a bit

.

edit> that was fast  finex already below yesterday

CEX.IO only hit 2400. I think I need to start using a more volatile exchange

haha, you should have seen c-cex then. i sold bitcoin there @$2900 and am kicking myself why i didn't place the sell orders at $3100 because someone with fat fingers apparently did a cleanup buy all the way up there
i placed the sell order as a joke because i had nothing else to do and no altcoin to buy!

What sort of vol did you sell at that price just out of curiosity?

my order size was not that big since i don't keep much on there (i do alt-trading on bittrex), but looking at the history and the volume of that particular time it was more than 50BTC volume.

[BiteMyShinyMetalAss]

Good morning Bitcoinland.

Missed yesterday's $200 dip and $150 recovery but it's still bouncing up and down like a yoyo... currently $2323USD (Bitcoinaverage).

It's not quite a deep enough dip for me to reallocate funds to buy into it but it's still an opportunity for anyone who missed the last big dip.
______

I figure that since most altcoins are bought with Bitcoin, noob suckers buying into the alt bubble drove the price of bitcoins up, buying them with their fiat.

It also figures that when the altcoin bubble burst, it would bring the price of Bitcoin down, as they sold for bitcoins which they then sold for fiat.

This would go a long way to explaining why on the way up, both rose quickly in price with alts rising faster, and on the way down down, both fell rapidly with alts falling faster and deeper.

Thats what I was saying about people cashing ETH out, since polo was the biggest ETH market for long time.

[Iranus]

Hey, have a look at the one month period of this lovely chart.

When Bitcoin falls, alts mostly fall as well because they're traded against BTC.  The amount that they fall is amplified by the fact that SegWit is potentially imminent on BTC and that the market cap tends to be smaller.

[BlindMayorBitcorn]

This is disappointing. ETH is actually sucking us down with her.

[megashira1]

LTC gets segwit = +400%
Random shitcoin gets segwit = +300%
BTC going to get segwit = -20%

[gentlemand]

LTC gets segwit = +400%
Random shitcoin gets segwit = +300%
BTC going to get segwit = -20%

The non BTC Segwit pumps were all about them becoming 'Bitcoin killers' as the daddy didn't have it.

I'm not sure how much traders actually care about scaling so the price effects may be underwhelming despite how important it is. And we're still not 100% sure in what form it's going to be implemented.

[YourMother]

Anyone notice this thread has 1/10th the traffic of past rises and dumps?  I think this is a sign of the fact that there's no reason for cryptocurrency to exist unless you can create an ASIC proof algo where coins can be mined on commodity hardware, or constantly change the algo to defeat them.  Without doing that, the draught of new people coming in signals the date of ASIC creation as the start of the coin's eventual death.  If this thread is any indicator of the system at large, Bitcoin is like a brown dwarf star running on fuel from a prior era.  

The only thing keeping it going at all is that some PoW altcoins are used as proxies for new people to occasionally enter.  Those altcoins are generally only profitable to mine during bull runs, so it also has the side effect of making bubbles larger and bear markets even more bearish.  This phenomenon is why you always see proof of stake coins wither and die like clockwork as well.

Look, scumbag! It was fun to troll Bitcoin, but back in 2013-2015 during all the bans, the fud and the panicked bears, not now after a 10x growth in price and userbase. The reason why Bitcoin is not worth over $200k right now is because of the ignorance of the masses. You are witnessing a world changing protocol, which time and time again has proved its security and robustness, that is about to decentralize everything that can be decentralized, and whose network value is not even half of Bill Gate's fortune at this moment.

If the low income people weren't buying bitcoins because they thought that they were part of a ponzi scheme, now they aren't buying because they cannot afford 1 Bitcoin. Now you have to inform them that they can buy quantities less than 1 bitcoin and that it's still worth it, but that's pretty damn hard. (tried it)

This is the last chance that these poor fucks have, because a few months/years from now a full bitcoin will be hardly affordable even for the high income group. And it will keep on going up until only the rich bastards will be able to hoard it and actually make a considerable profit out of it.