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

[Rosewater Foundation]

You infernal creature! Bounce!

[nikauforest]

I just got off the phone with my father in law. ( He is the ultimate contrary indicator)

I know this is only a correction because he was so happy he doesn't own any Bitcoin. I will be worried when he asks me if it is a good time to buy. So far my indicator has been 100% accurate in more then just this market. He did not like gold at 280 then he liked it at 1700. He did not like tech stocks in the early 90's, he liked tech stocks in 1999. Crazy! On and on. I don't have the heart to tell him he is the ultimate contrary indicator.

So as far as I am concerned. New highs incoming later this year, probably sooner then the anti bitcoin people think.

[User705]

So the ponzi scam BitConnect is finally dead? First casualty of the shitcoin saga?

Looks like it. Amazingly someone is buying now and price bounced a bit. Still down 86% on the day.

If I'm understanding correctly bitconnect customers were able to cash out the value of their accounts into bitconnect tokens at a price of $363. Currently the price is about $35

They were told they would be able to do that.  I don’t know if they actually can cash out.

I think they can. But what they are getting is bcc tokens. So for example if their account had a 100k usd value they will get 100,000/363= roughly 275 tokens. Now worth 275 tokens X 35= 9625 USD

The people who cashed out earlier today salvaged things a little better as price was still over a 100

As long as they give them enough token at current market price then their part of the deal is met.  Of course you still can’t sell it for anything close to that the next day.  Serves them right.  You could see that shit coming a mile away.

[Elwar]

On the bitconnect front, I play around on the Thai exchanges and one of their lower volume exchanges quickly went from 450k THB to 225k THB (about $7,500). I'm not sure if it was bitconnect related but I know a lot of Thais were targeted for that scamcoin.

[Sitarow]

Not only has Vietnam taken measures to make Bitcoin transactions illegal but we can add the bank of Indonesia now.
https://www.newsbtc.com/2018/01/15/bank-indonesia-team-police-clampdown-bali-bitcoin-transactions/

First they laugh and deny, then they fight. Who's ready for the WIN!

Just buy the dips and profit.

[muadib83]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

[Higher Altitude]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

[bonipper]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

[OWZ1337]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

\\\v///$5000 possible  weee

[lightfoot]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

Oh is that what blew up the price? A Ponzi scheme collapsing?

Man no one makes money on those things.

[OWZ1337]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

Oh is that what blew up the price? A Ponzi scheme collapsing?

Man no one makes money on those things.

the insiders did i bet :\ meh

[Higher Altitude]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

Oh is that what blew up the price? A Ponzi scheme collapsing?

Man no one makes money on those things.

the insiders did i bet :\ meh

Yep. Bitconnect is dead I guess. Everyone who saw videos on Youtube of their conference knew it was a scam. This guy has become a meme now.
The early people certainly made a lot of money there and the general populace got burned. That's why we should sometimes listen to our fellow crypto lovers when they have our best interest at heart.
Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

[cofefeGandalf]

Another dump incoming? My buy orders are ready. UHWEEEH

[MinermanNC]

We're watching our new found fortunes slip away 

Come back BTC! lol (I'm sure it will)

[bonipper]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

Oh is that what blew up the price? A Ponzi scheme collapsing?

Man no one makes money on those things.

the insiders did i bet :\ meh

Yep. Bitconnect is dead I guess. Everyone who saw videos on Youtube of their conference knew it was a scam. This guy has become a meme now.
The early people certainly made a lot of money there and the general populace got burned. That's why we should sometimes listen to our fellow crypto lovers when they have our best interest at heart.
Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

How many bitcoins were tied up in it?

[OWZ1337]

I predict max low is 8300-8400 - bitfinex - last hope support. None good supports below really - if it goes to 8000 its game over man

Bitconnect dropped like a stone. At someone point Bitcoin could definitely collapse. But until then it's all just speculation.

Maybe someone is dumping all the bitcoin profits they made from bitconnect. Maybe bitcoin will recover after they stop dumping.

Oh is that what blew up the price? A Ponzi scheme collapsing?

Man no one makes money on those things.

the insiders did i bet :\ meh

Yep. Bitconnect is dead I guess. Everyone who saw videos on Youtube of their conference knew it was a scam. This guy has become a meme now.
The early people certainly made a lot of money there and the general populace got burned. That's why we should sometimes listen to our fellow crypto lovers when they have our best interest at heart.
Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

to many people just hodl forever and don't USE bitcoin ~ it's a revolutionary type of thing that most n00bs cannot even understand :-D ~anonymous, secure and unregulated digital money.

[Peter R]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

[jojo69]

hey Peter, did you see your MtGox thread is active again?

[MinermanNC]

I think the winners will be the ones that owed BTC, and the losers are the ones still owed  

Who knows how much BTC was involved, wow what a mess. Its occurrences like this that tarnish the crypto industry and give regulators ammo, to some degree anyways.

[adaseb]

Seems like scalping right off $10K on GDAX and Bitfinex was a classical technical analysis trade.

Was under $10K probably for less than a minute.

Tons of stop losses under... but many buy-limits under also