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

[Denker]

It is just time for a deeper correction, nothing more.

No that wasn't a natural correction. Definitely some fabricated, and probably partially misrepresented news article by some chinese newspaper.
Looks like these guys do not got enough coins 2 days ago. " Let's repeat it again, market will react impulsive as usual!"

[1715680477]

1715680477

[1715680477]

1715680477

[1715680477]

1715680477

[1715680477]

1715680477

[Denker]

What did i miss? From $4650 to $4300? That was real quick for a nap time. I dont see a news why that happen?
But everyone likes dip right?

Possible China ban on bitcoin... would make sense after ICOs ban. They know there's a lot of money in it and want to regulate it. Expect much less than 4300 during the weekend. The news hasn't spread yet.

WRONG! Now you're making some shit up here! I'm pretty sure they will not ban Bitcoin. This wasn't even mentioned.
Closing an exchange due to ICOs being traded on those, if it will happen is not cleared so far, is NOT banning Bitcoin!!!

[Torque]

Howard Mark's Oaktree blog on Bitcoin:
https://www.oaktreecapital.com/insights/howard-marks-memos

Scroll down to the Bitcoin section. Sounds like this dinosaur is finally starting to get Bitcoin a little more even though he still won't put money into it.

Although I'm not sure how people still think this billionaire investor is so smart.  Consider this statement:

"Serious investing consists of buying things because the price is attractive relative to intrinsic value.  Speculation, on the other hand, occurs when people buy something without any consideration of its underlying value or the appropriateness of its price, solely because they think others will pay more for it in the future."

He still doesn't understand that to many, Bitcoin is not an investment. It's not about selling it to future greater fools. Many will buy, hold, and use bitcoin at any price because they consider it superior to fiat. In the future when the market saturates and the price stabilizes much higher, people will still buy and use bitcoin because it is deflationary. Their bitcoin will continue to drift slightly higher in value even after most speculation has subsided, simply because the fiat all around them is still declining in purchasing power towards eventual zero. Their savings (purchasing value) will be protected with bitcoin.

[YamashitaRen]

It's true this isn't a natural correction but bitcoin was having trouble getting over 4700.
Wouldn't have been surprised to see market go down from there, but not like that  

[bikerleszno]

https://twitter.com/cnledger/status/905366039533195264

https://news.bitcoin.com/how-many-times-can-china-cry-wolf/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

[BlindMayorBitcorn]

Just a little more off the top. I guess.

[danherbias07]

It's true this isn't a natural correction but bitcoin was having trouble getting over 4700.
Wouldn't have been surprised to see market go down from there, but not like that  

And they told before it had a  hard time going to 4000 and yet where is it.
They will always tell stories just for fun but the truth will happen and no one can stop it.
It will go the way it should be and that is up.
It had fall way above what we experiencing now and it still seems natural to me.

[JimboToronto]

so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip 

It seems to be consolidating for now but another PBoC or other announcement could send it into another panic at any time.

This is certainly not a time to sell but it's probably not a good time to buy either. I'm holding as always but I'm keeping an eye on the price with cash in hand.

[Meuh6879]

I'm pretty sure they will not ban Bitcoin.

Like always ... (layers of bureaucraty/idiocraty)

https://www.youtube.com/watch?v=LIQkuF_I5Xo

[podyx]

Why are we not recovering yet?

Perhaps heading further down?

[BitcoinNewsMagazine]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

"... It’s important to note, this decision is to close all cryptocurrency to fiat currency exchanges, that is, to halt all exchanged based trading of bitcoin for RMB. But it does not halt all bitcoin and fiat trading outside of exchanges. Someone close to the leadership of the IFRG stated: “what is being closed is bitcoin exchanges, not bitcoin itself”. The same person emphasized, “this ban on exchanges and exchange activity won’t affect the development of blockchain technology.”

[gentlemand]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

[gembitz]

greyhound racing will be good for bitcoin    weeeeeeeeeeeeeeeeeeeeeeeeeeeeee

[DaRude]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

It'd be a great irony if China forces Chinese miners out   that'd be awesome, unfortunately I don't think they're that dumb, they more likely to subsidies BCC

[Ludwig Von]

The end of the Cryptocurrency Exchange era in China (translation) - Google Doc

So they're really going for it according to that. I wonder what measures miners have in place to sell. I assume the proper ones have OTC deals but there must be some stragglers who'll have to get something in place.

I can't say I'll be too sad if China checks out.

Bitcoin will be an export product for China... .

[Last of the V8s]

https://bitcointalk.org/index.php?topic=2148605.msg21493726#msg21493726

My quick and dirty translation of the notice:
...
3.   Reinforce coin, ICO exchange platform management
From today onwards, so called exchange platforms are not allowed to participate in exchange of fiat vs tokens, fiat vs crypto. They are also not allowed to buy/ sell as a centralised participant. Not allowed to provide pricing or information as an intermediary.
Any platform against these rules will have their website, mobile apps shut down and license to operate revoked.
...

so um that's good news for bitcoin, right?

just ignore me lol

[rjclarke2000]

Have the Chinese exchanges closed right now? Are they still doing business?

This can't be true surely. China shutting down exchanges...wtf.

Is this bullshit again?

[El duderino_]

so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip 

It seems to be consolidating for now but another PBoC or other announcement could send it into another panic at any time.

This is certainly not a time to sell but it's probably not a good time to buy either. I'm holding as always but I'm keeping an eye on the price with cash in hand.

Good thanks.....

[CristiTCM]

This isn’t the first time China is banning exchanges. Back in 2013, bitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan. The government changed its mind later on.
Do you thing something like that can happen now?

[Last of the V8s]

Just a little more off the top. I guess.

meh what comes down must er go up

anyhoo
http://www.columbia.edu/~jl4130/BTC.pdf sorry for pdf
An Economic Analysis of the Bitcoin Payment System

Bitcoin is not regulated. It cannot be regulated.