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

[RejectedBanana]

Proper double bottom incoming over the next few days

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

I thought similar dumps would happen this time last year, and bitcoin's price shot up above the 2013 ATH instead. All this year I kept expecting huge crashes, and it just corrected a little then carried on going up. Maybe bitcoin adoption is speeding up so fast it's preventing any huge crashes. Maybe it will soon be above 20 k.

Friends I talked to years ago about Bitcoin and completely given up any hope on taking action have finally decided these last few days to jump in. Timid sideliners are just starting to pull the trigger, precisely because of MSM news coverage of the correction. Bitcoin's on sale! I thought I would have to put a gun to their head to finally make a move. Turns out WuVer's BEECrash did it for me. Go figure.

[Icygreen]

I've opted for the ignore button for him and the "lost roach".  A shadow ban of sorts. I've gained nothing from his posts, ever. Just a helpless man without hope or vision who's given zero support to those who do.

[Torque]

Mic drop on all the big blockers:

https://twitter.com/jratcliff/status/944605855751827457

[realr0ach]

Timid sideliners are just starting to pull the trigger, precisely because of MSM news coverage

That's called a...Jim Cramer CNBC pump and dump scam...

[bones261]

So anyone buying their other half or family members some BTC for Christmas?

Thinking of getting my girlfriend some BTC as another gift as I've been left a bit "meh" with what to buy her this year.

Best Christmas presents (yes, they will accept worthless BTC for it):

$100 range:
https://silvergoldbull.com/5-oz-sunshine-mint-silver-wafer-bar

$200 range:
https://silvergoldbull.com/10oz-sunshine-mint-silver-wafer-bar

$600 range:
https://silvergoldbull.com/1-kg-republic-metals-corporation-silver-bar

I don't think most women are going to be thrilled with getting a gold or silver bar. They much prefer it to be in the form of jewelry, which comes at a high mark up. Throw in a few shiny stones and a blue box, and they'll be even more delighted.

[mr angry]

Proper double bottom incoming over the next few days

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

I thought similar dumps would happen this time last year, and bitcoin's price shot up above the 2013 ATH instead. All this year I kept expecting huge crashes, and it just corrected a little then carried on going up. Maybe bitcoin adoption is speeding up so fast it's preventing any huge crashes. Maybe it will soon be above 20 k.

Friends I talked to years ago about Bitcoin and completely given up any hope on taking action have finally decided these last few days to jump in. Timid sideliners are just starting to pull the trigger, precisely because of MSM news coverage of the correction. Bitcoin's on sale! I thought I would have to put a gun to their head to finally make a move. Turns out WuVer's BEECrash did it for me. Go figure.

Recently complete noobs have started asking me how to buy bitcoin. They don't know anything whatsoever about it, they just want to find out how to buy it with fiat. You are probably right, they will see the dip as an early January sale and go fighting for the bargains while they can get them.

[yonton]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

[RejectedBanana]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

Really? You mean besides WuVer? I can't help but think these are recent bag holders dumping, not HODLers!

[yonton]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

Really? You mean besides WuVer? I can't help but think these are recent bag holders dumping, not HODLers!

Nope recent buyers don't have enough coins to move the market like this. It is clearly early adopters cashing out large amounts of coins.

[RejectedBanana]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

Really? You mean besides WuVer? I can't help but think these are recent bag holders dumping, not HODLers!

Nope recent holders don't have enough coins to move the market like this. It is clearly early adopters cashing out large amounts of coins.

Early adopters don't dump on the exchanges. They call Bobby Cho at Cumberland Mining and sell direct to institutions or high net worth peeps. Min transaction $100,000. Million dollar transactions preferred.

[flounderella]

I've been feeling that the price jump has been built on FOMO speculation for a while now. I think that the real, solid base is around $6k (roughly following the longer-term linear trend), but I expect speculators to stabilize it if it reaches $10k, at the very least, and then those prices might or might not stabilize.

So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.

I agree with this. This mostly felt like get-rich-quick types jumping on. Once they are disappointed and broke, we should settle back in around 6-10K and move sideways for a bit, which is not bad. A lot of the altcoin euphoria is out of control as well and there would be serious losses.

[yonton]

I've been feeling that the price jump has been built on FOMO speculation for a while now. I think that the real, solid base is around $6k (roughly following the longer-term linear trend), but I expect speculators to stabilize it if it reaches $10k, at the very least, and then those prices might or might not stabilize.

So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.

I agree with this. This mostly felt like get-rich-quick types jumping on. Once they are disappointed and broke, we should settle back in around 6-10K and move sideways for a bit, which is not bad. A lot of the altcoin euphoria is out of control as well and there would be serious losses.

We can do away with 95% of the alts and the market would be much healthier.

[yonton]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

Really? You mean besides WuVer? I can't help but think these are recent bag holders dumping, not HODLers!

Nope recent holders don't have enough coins to move the market like this. It is clearly early adopters cashing out large amounts of coins.

Early adopters don't dump on the exchanges. They call Bobby Cho at Cumberland Mining and sell direct to institutions or high net worth peeps. Min transaction $100,000. Million dollar transactions preferred.

The markets are liquid enough to buy/sell a million $ worth on exchanges easy. OTC isn't as big as people think now.

[RejectedBanana]

In the next few days the people who took in loans to buy BTC at 18-20 k will start to sell  

We have seen LOTS of shorts squeezed on this rise.  When is the last time you remember seeing some cataclysmic longs squeezed to implode the price?  It hasn't happened since the price was in the $400-800 range probably. Everything is cyclical.  The draught of long squeezes has to invert at some point.

this is because with rising BTC price the value of your collateral for your leverages increases too - atleast this is my view; i usually dont use leverage.

Well, it's mostly because there are people who own like 200,000 coins and can't sell them without imploding the market, so they're essentially illiquid, toxic assets.  On the other hand, they can use their toxic assets as margin collateral to squeeze shorts and also to do pump and dumps.  If you live in a civilization that facilitates people to leverage toxic assets and create a toxic asset at 3x the price of a non-leveraged one, take a good look around because all this shit is going to be crumbling down on top of you soon and that applies to both bitcoin + Wall Street.

Every time the market dumps, it also purges those giant holders from the market. This distributes coins out to more holders which strengthens the market.

Really? You mean besides WuVer? I can't help but think these are recent bag holders dumping, not HODLers!

Nope recent holders don't have enough coins to move the market like this. It is clearly early adopters cashing out large amounts of coins.

Early adopters don't dump on the exchanges. They call Bobby Cho at Cumberland Mining and sell direct to institutions or high net worth peeps. Min transaction $100,000. Million dollar transactions preferred.

The markets are liquid enough to buy/sell a million $ worth on exchanges easy. OTC isn't as big as people think now.

Hahaha. Have you tried depositing/withdrawing $1,000,000 from Coinbase? Or Gemini? Or Bitstamp? In one day? Sure you can exchange it with perhaps minimal slippage if you're not panic selling, but good luck getting it out!!!

No thank you sir, I prefer to close on a fatty fat wire direct to my account, same day.

[Elwar]

itBit does OTC very well...that's how I got my bitcoins when I sold my house last year. Usually around $50k a trade.

The limitation was the bank only allowing $25k wire transfer per day.

[realr0ach]

New holocaust started in Germany.  Positive or negative for bitcoin?

http://youtu.be/tREa_BbTRXo?t=46

[stylexing]

I'm quite worried since there will be someone who might take the risk to test this one. This will result in a better consolidation.

[DaRude]

Why make the decision for the user, there's an ignore button that's just as useful, unless of course s/he manages to get another noob to quote him/her.

This is why DaRude. This is why. I would have to put everyone that quotes him on ignore too, which would be like half the people here...

If you can abstract away all his PM shilling and antisemitism then it is not unusual that he brings sound arguments.
I think as a smart person you should be objective and open to sound arguments that go against your opinions.

You're giving him/her too much credit. When it's like a broker record with 50% of posts pushing PMs, 25% about how crypto currency is not decentralized, and 20% about killing jews, i really don't feel like sifting through all that crap searching for that remaining 5%

[realr0ach]

with 50% of posts pushing PMs, 25% about how crypto currency is not decentralized, and 20% about killing jews, i really don't feel like sifting through all that crap searching for that remaining 5%

The answer you seek can be found in the Zerohedge comment section:



All hail leader of the white race, Vlad Putin.

[TERA2]