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

[ParabellumLite]

Crucial support has been broken around 3800 USD. The 'back to normal' phase is drawing to an end.
The large move down is about to begin, the one that will confirm the bear market in the coming days and weeks.

We will go down slowly to $1500.

This bear market will last for five months.

Beartrolls hoping to shake some more BTC from weak hands?  

I wish it was that easy of an explanation .  Also, I moved out of left BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

[1714473070]

1714473070

[gembitz]

Well good morning Bitcoinland.

Woke up just in time to see we're having a dip... currently $3720USD/#4580CAD (Bitcoinaverage).

Not a buying opportunity yet but if it goes down this much again, I'll consider it.

Meanwhile, AltcoinCash is also falling... currently $444USD/$550CAD (Coinmarketcap).

Up, down, up, down, bouncy, bouncy.

Good for day traders, I suppose.

I just want the bears weaklings to sell all they have, so the price can go up.  

ftfy  

September 30th ~ bitcoin to 10k? weeee

[Torque]

I wish it was that easy of an explanation .  Also, I moved out of BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

As in literal years ago?

[BlindMayorBitcorn]

I moved out of Bitcoin when I was 16. Never looked back.

[empowering]

Crucial support has been broken around 3800 USD. The 'back to normal' phase is drawing to an end.
The large move down is about to begin, the one that will confirm the bear market in the coming days and weeks.

We will go down slowly to $1500.

This bear market will last for five months.

Beartrolls hoping to shake some more BTC from weak hands?  

I wish it was that easy of an explanation .  Also, I moved out of BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

Out of interest before you were interested in Bitcoin and Bitcoin trading, have you had much prior exposure to trading in any other markets? or visited any other trading/investment forums? PMs? Forex? etc

[ParabellumLite]

Crucial support has been broken around 3800 USD. The 'back to normal' phase is drawing to an end.
The large move down is about to begin, the one that will confirm the bear market in the coming days and weeks.

We will go down slowly to $1500.

This bear market will last for five months.

Beartrolls hoping to shake some more BTC from weak hands?  

I wish it was that easy of an explanation .  Also, I left BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

Out of interest before you were interested in Bitcoin and Bitcoin trading, have you had much prior exposure to trading in any other markets? or visited any other trading/investment forums? PMs? Forex? etc

None: I did pick up some things in the meanwhile. I did some research on trading and everything associated with it, got some books on the shelf here, but in the end it is pseudo-science at best in my view.  Sometimes charts might give an important clue, which I think is the case now, but in the long run there is no point in trusting on TA and the like.

While in BTC in the past I started doing some research on credible alternatives in the cryptosphere, with possible real world application, and ended up investing getting out of BTC and investing in XRP back in 2014 (at least around that time). I hindsight that was no poor decision (   ) , but those that stayed in Bitcoin in 2014 through 2016 made no poor decision as well.  Then again, Bitcoin's problems in my view are nearly exclusively the same ones as in late 2013/early 2014: no real world usecase, very few people using it, high volatility and the entire link with China. I see no realistic scenario of it succeeding in the long run, including my view that Bitcoin as it is cannot function as a store of value. Let alone the extremely important regulatory aspects involved.

The relationship with China will come back to bite Bitcoin, even though lots of people here assumed 'China' was no longer a problem in this game. If the Chinese government indeed starts cracking down on mining farms, the panic here will be unreal, and the dumps will be even more severe. But even without that, I think Bitcoin has entered a bear market already - with the bubble being ready to pop right now.

[Torque]

Amazing, simply amazing.

People who claim to have no btc and are huge skeptics of Bitcoin's long term success. But somehow still manage to find time in their busy daily schedule to pontificate their negativity on the Bitcoin forum!

Thank god for these people. Whatever would we do without their insight and wisdom?

[bitcoinPsycho]

Amazing, simply amazing.

People who claim to have no btc and are huge skeptics of Bitcoin's long term success. But somehow still manage to find time in their busy daily schedule to pontificate their negativity on the Bitcoin forum!

Thank god for these people. Whatever would we do without their insight and wisdom?

Very well put . Butt hurt comes to mind

[empowering]

Crucial support has been broken around 3800 USD. The 'back to normal' phase is drawing to an end.
The large move down is about to begin, the one that will confirm the bear market in the coming days and weeks.

We will go down slowly to $1500.

This bear market will last for five months.

Beartrolls hoping to shake some more BTC from weak hands?  

I wish it was that easy of an explanation .  Also, I left BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

Out of interest before you were interested in Bitcoin and Bitcoin trading, have you had much prior exposure to trading in any other markets? or visited any other trading/investment forums? PMs? Forex? etc

None

"I don’t have time to try to convince you, sorry"

[ParabellumLite]

Amazing, simply amazing.

People who claim to have no btc and are huge skeptics of Bitcoin's long term success. But somehow still manage to find time in their busy daily schedule to pontificate their negativity on the Bitcoin forum!

Thank god for these people. Whatever would we do without their insight and wisdom?

Truth be told, I have never really caught you being constructive in any way here. You always seem to bully people that do not share your faith and belief and believe that Bitcoin must succeed.
Feel free to rant on all you like though: that's what you are known best for here anyways  .

You are a believer Torque, nothing more. The simple fact that you tend to suggest you are something else than that, doesn't change it. You have put your faith  in this thing, and that's fine by me.

[ParabellumLite]

Crucial support has been broken around 3800 USD. The 'back to normal' phase is drawing to an end.
The large move down is about to begin, the one that will confirm the bear market in the coming days and weeks.

We will go down slowly to $1500.

This bear market will last for five months.

Beartrolls hoping to shake some more BTC from weak hands?  

I wish it was that easy of an explanation .  Also, I left BTC years ago already.

No, I have been fascinated with Bitcoin for years, and consider the attitude on this forum - especially the permabullism and the constant and ever encompassing rage against criticism - as an interesting social experiment. I have little doubt people will read  the history of these boards in years to come, to see how group think can lead to catastrophic results.

Especially the tribalism here (strong hands vs weak hands, bulls vs bears) is so ridiculously narrow minded that it actually gets intriguing at some point.

Out of interest before you were interested in Bitcoin and Bitcoin trading, have you had much prior exposure to trading in any other markets? or visited any other trading/investment forums? PMs? Forex? etc

None

I don’t have time to try to convince you, sorry

Come on, that's rather low of you. I fairly answered your question: I could've bluffed my way through it, ignored it, or done something else, but opted to not do so.
At least have the courtesy to respond back.

Also, do you have a background in any of the things you named?

[empowering]

Yes

[ParabellumLite]

Yes

Mind sharing your criticism then?
Apparantly you want to claim some kind of authority here, so why not share your knowledge? I am not interested in a long drawn out argument here anyways: people are too entrenched in their positions here anyways which will result in it being a waste of time regardless.

[Torque]

You are a believer Torque, nothing more. The simple fact that you tend to suggest you are something else than that, doesn't change it. You have put your faith  in this thing, and that's fine by me.

Of course I'm a believer. That's why I'm here.

And with no bitcoin (and thus no skin in the game), and a firm belief that Bitcoin has no viable future, you are a non-believer.

So would you mind explaining to everyone why you are here again? I'm starting to smell troll.

[JimboToronto]

Amazing, simply amazing.

People who claim to have no btc and are huge skeptics of Bitcoin's long term success. But somehow still manage to find time in their busy daily schedule to pontificate their negativity on the Bitcoin forum!

Thank god for these people. Whatever would we do without their insight and wisdom?

Very well put . Butt hurt comes to mind

Indeed, but don't discount the possibility that there could be conflicting vested interests.

To some, Bitcoin's success merely represents a missed opportunity. To others it represents an ongoing threat.

[SERVERIA]

But even without that, I think Bitcoin has entered a bear market already - with the bubble being ready to pop right now.

How about there's no bubble? It's just the next global currency, as simple as that. 

[ParabellumLite]

You are a believer Torque, nothing more. The simple fact that you tend to suggest you are something else than that, doesn't change it. You have put your faith  in this thing, and that's fine by me.

And with no bitcoin (and thus no skin in the game), and firm belief that Bitcoin has no viable future, you are a non-believer.

So would you mind explaining to everyone why you are here again? I'm starting to smell troll.

I call you a believer, because you seem to show no doubt, at all, including not acknowledging (at least, I never caught you at doing so!) the possibility that Bitcoin might fail in the long run. That is what makes you a believer, not the fact that you invested in Bitcoin in the past and present. Maybe cultist is in place as well, no matter how loaded that piece of terminology is.

About the second part: this is another example of what is wrong with this board. Throw around some criticism about Bitcoin, and immediatly be labeled as a 'troll', or at least be confronted with the suspicion you are one.  It fits in the pattern of this board, longtime members in particular, not being able to deal with criticism. At this point, I am still surprised you haven't accused me of spreading FUD (another popular smear tactic here!).  It has always been this way here in my memory, which is one of the main reasons for the existence of a herd mind here.

That is the main reason why I called this place an interesting social experiment: people here have closed their minds for truly open discussion and like crabs they keep each other in the bucket. If Bitcoin were to fail in the mid to long term, I can see those people still claiming that everything is fine around 500 USD (mind you: I am not claiming Bitcoin will go there) and that Bitcoin will appreciate again. After all, it did so in the past as well, right?

[Last of the V8s]

[yermom]

None: I did pick up some things in the meanwhile. I did some research on trading and everything associated with it, got some books on the shelf here, but in the end it is pseudo-science at best in my view.  Sometimes charts might give an important clue, which I think is the case now, but in the long run there is no point in trusting on TA and the like.

So, there's no point in trusting TA, EXCEPT in this particular case?

Why don't you try it again with the next moniker, instead of talking bs

[Wekkel]

As long as there is nothing around that clearly trumps Bitcoin, I do not foresee it wither away, whether going to $2,500 or $500 short term. Transferring 'value' over the Internet is simply to powerful to go away soon. This will not be uninvented and left for death.