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

[becoin]

ok

I'll say it :

Who sold at bottom ?

the bottom was 10k

And before that it was 12k, and before that 14k... and now it's 8k?

It's almost like selling at the "bottom" could be actually a good strategy

One year ago it was 1k. Now it's 8k. It looks like buying at the top is a better strategy.  

[Enjel]

ok

I'll say it :

Who sold at bottom ?

the bottom was 10k

And before that it was 12k, and before that 14k... and now it's 8k?

It's almost like selling at the "bottom" could be actually a good strategy

The "bottom" was around 9k, I claimed. Our little spike down to 8.5k met with very heavy resistance at high volume, which is a good sign.

Support level still sticks at around 8-9k.

[Cassius]

Every central bank is the trading cycle for their respective currency. USDT is a private currency of Fiinex. It is quite natural if Finex defines the trading cycle of USDT.

Fed is the trading cycle for USD. Finex is the trading cycle for USDT. Get used to it and move on!

I feel like one of us has entirely missed the point of this conversation.

[ImI]

Anyone here from 2013?? 

https://www.youtube.com/watch?v=K2ku1A5Ox8U

Haha! That brings back memories! A lot has happened in 5 years.

Love that song!

Innocent times.

No CNBC reporting about the last fart BTC let go.

[jojo69]

This is an interesting twist on the USDT thing: that they are capitalised, but went about it backwards. http://telegra.ph/Tether-could-be-guilty-of-perpetrating-a-huge-fraud-just-not-the-one-we-think-02-01

oooooh, I like that theory too

tldr/ bitfinex may have been indeed printing unbacked tethers at key moments to snap up cheap coins

then selling the BTC OTC for real dollars to back the tethers

the auditors were going to notice that things were happening in the wrong order

[JayJuanGee]

I need to recognize and thank those folks in this thread that pushed me towards liquidating a portion of my holdings - when I did - for the purpose of early-funding my early-retirement portfolio.

I would likely be a mess right now if I did not heed your folks' advice.

The block I sold @ $11.5k I totally owe to my partner, tho. Touched base while he was between a connecting flight back home, and encouraged me with "Don't get greedy ! Sell @ $11.5k instead of waiting for $12k or $12.5k"

Gives me a very nice cushion to practically hibernate for the entire month of February, where I expect things to pick up the closer we get to March.

HODL on, HODLers. We're heading into very choppy waters today by the looks of it.

BOB!!!!!


You party poop!  You are really assessing further downward BTC prices?     

[rezurect007]

https://www.tradingview.com/chart/BTCUSD/LdOQGk60-Short-Term-Downtrend-3-Drives-PAttern-Target-8-5k-within-Feb/
Long after the 3rd drive - Bullish pattern

Im in. Caught the bottom. Was expecting 8.5, 8.9 is good enough for me.HODL MODE.
Shorts being covered on finix.

I believe BTC is behaving like forex markets. This bottoming is not due to Bitfinex being cleared of wrongdoing.
Weak hands control how low it goes, depending how many there are.

[bones261]

This is an interesting twist on the USDT thing: that they are capitalised, but went about it backwards. http://telegra.ph/Tether-could-be-guilty-of-perpetrating-a-huge-fraud-just-not-the-one-we-think-02-01

oooooh, I like that theory too

tldr/ bitfinex may have been indeed printing unbacked tethers at key moments to snap up cheap coins

then selling the BTC OTC for real dollars to back the tethers

the auditors were going to notice that things were happening in the wrong order

Well the Tether printing press last created a batch on 01/23/2018. https://omniexplorer.info/default.aspx?filter=grant Not sure how that fits in with the theory.

[RejectedBanana]

I wanted more pain than that.

Yeah, that was barely even a pinprick!

[JayJuanGee]

1 btc still worth 1 btc

Except it's not. Tainting is hugely prevalent now.

Newly mined coins go for a premium.
 
etc. etc.

Do you really think that we have fungibility concerns in bitcoinlandia?  

Besides the bare assertion that you just made, what is your evidence,  your logic and/or facts?

[HairyMaclairy]

This is an interesting twist on the USDT thing: that they are capitalised, but went about it backwards. http://telegra.ph/Tether-could-be-guilty-of-perpetrating-a-huge-fraud-just-not-the-one-we-think-02-01

oooooh, I like that theory too

tldr/ bitfinex may have been indeed printing unbacked tethers at key moments to snap up cheap coins

then selling the BTC OTC for real dollars to back the tethers

the auditors were going to notice that things were happening in the wrong order

That has a tendency to go wrong when the price stops going up.  

In happier news, I am going to have a lot more BTC if this shake continues.  

[becoin]

Every central bank is the trading cycle for their respective currency. USDT is a private currency of Fiinex. It is quite natural if Finex defines the trading cycle of USDT.

Fed is the trading cycle for USD. Finex is the trading cycle for USDT. Get used to it and move on!

I feel like one of us has entirely missed the point of this conversation.

You think Finex defines the trading cycle of BTC by minting USDT. This is not true. Finex defines the trading cycle of USDT! They can do whatever they want with their private currency if they meet all their obligations. If you're not happy create your own currency and sell BTC against it. Hope that clears all missed points.

[Enjel]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

[JayJuanGee]

JayJuanGee, it was all over at this moment.  You shoulda just set all your money on fire the second this happened:

What is your reference, roachie poachie? 

Do you expect that peeps (including me) are going to know what "this" refers to? 

And, even if you have any kind of possible point that makes some sense, you seem to be attempting to assert that there is some kind of objective truth in regards to the direction of bitcoin, no?  Are you arguing a kind of fatalism now? 

or are you just throwing out random shit trying to figure out if anything might stick attempting to engage in distracting and non-relevant points that make no sense at all within a bitcoin context?  Hey, isn't this thread about bitcoin in some kind of way?

[rafanadal]

There is no bounce, this is a small momentarily correction
by tomorrow, we'll be sub 8k or close to that number.

[HairyMaclairy]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

I bought at $750 and saw lows of $120.  Bitcoin is not going anywhere.   But plenty of ICO tokens will go to zero.  

I will be buying very aggressively.  This is my chance to put the lessons I learnt in 2014 into action.

But Im not buying yet.

[Toxic2040]

Capitulation is nigh. Waiting for the daily probably.
More buying at $8100 perhaps.

[pera]

ok

I'll say it :

Who sold at bottom ?

the bottom was 10k

And before that it was 12k, and before that 14k... and now it's 8k?

It's almost like selling at the "bottom" could be actually a good strategy

One year ago it was 1k. Now it's 8k. It looks like buying at the top is a better strategy.  

I was just making a joke about this concept of "bottom": both local maximums and minimums have no relevance in a random walk

[vroom]

this is not the recovery I expected. I think we will go lower in the next days before true recovery starts.

[Enjel]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

I bought at $750 and saw lows of $120.  Bitcoin is not going anywhere.   But plenty of ICO tokens will go to zero.  

I will be buying very aggressively.  But not yet.

I hope so. So much trash that needs to be taken out. I hope every coin that has spent months without any working product goes down. 1500+ currencies?  (Although not my favorite ERC20 alt, PRL. Staying green in a sea of red for now)

I see no reason for the Bitcoin price to be crashing actually past support - just a correction from a massive run. Payment is getting better, LN implemented.

Some FUD about a ban which Bitcoin has survived before, and Tether which is blown out of proportion by FUDsters.


ALSO, is this truly "capitulation" (we already had a massive shakeup - you'd think all the weak hands would've been shaken off a long long time ago), or rather manipulation?