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

[realr0ach]

big volume around 9k on finex. this will be interesting whether it can hold or not

They already showed their cards and made it too obvious the exchange is a complete scam by fabricating all this enormous buy support around the $9k area when other exchanges are $300 lower.  There was absolutely no reason for anyone to waste like $50+ million defending that level when other exchanges had long busted through it.  This means they're just printing Gox dollars out of thin air to try and defend price all the way down while hoping they can con people into believing they're the legit market maker exchange that sets price.

edit: other exchanges now $400 lower while Scamfinex continues to print Gox dollars out of thin air and defending $9k

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[Biodom]

Here is my take:

1. I want to have more crypto in eventuality (longer term).
Lower prices would mean that I would need to spend less fiat to get it.

2. If someone thinks that $450bil of a new asset class is a "bubble" with more than 100tril slushing in stocks, etc, I would politely disagree.

3. who said that you have to sell for fiat? I am already using the correction to reshuffle the crypto portfolio to focus on those that in my opinion are more likely to persevere (bitcoin is one of those).

That said, my oscillation theory says that the ultimate low is at around $7113, but whether we get to it in the current downswing or much later remains to be seen. A dip to around here or $8K with a fast rebound is also possible. It thought that the latter is more likely, indeed, but we are driving down a bit too fast.

[Lopumbo]

  its getting ridiculous

bitfinex: 9010$, gdax: 8600$

[mindrust]

repeat after me,

-1 bitcoin is still 1 bitcoin.

*It is just not $20k anymore no big deal

[rjclarke2000]

What is the reason for this drop? I’ve seen lots of FUD in my time... but this??

This is plain stupid.

[Searing]

how much credence to you all put into the Tether playing games and NOT fully backing with USD as they claim?

assuming that .... what do you think the effects will be?

9k coin
8k coin
7k coin
6k coin

etc?

I'm hoping, IF they get burned..it will shake out to cheap coin and a rebound in price and onward and upward

(I am often wrong, however)

thoughts on what IF Tether is worst case and its effects

thanks

[conspirosphere.tk]

big volume around 9k on finex. this will be interesting whether it can hold or not

They already showed their cards and made it too obvious the exchange is a complete scam by fabricating all this enormous buy support around the $9k area when other exchanges are $300 lower.  There was absolutely no reason for anyone to waste like $50+ million defending that level when other exchanges had long busted through it.  This means they're just printing Gox dollars out of thin air to try and defend price all the way down.

That could be read as a run on Tethers -on finex because there it pays best in btc. And that real cash exchanges are getting dumped on harder is obvious: who would like to wait for a bank wire from finex?

But no worries: if no bottom will hold we can always have a drink.

[JayJuanGee]

Guys, I Sodl.

I'm a long term holder. Bought my first bitcoin in 2013 to buy MDMA on SilkRoad. Later got inspired as a software vendor by the idea of cheaper transactions (Visa getting 20% of my profit!).

I Hodl in 2014 when times were grim. I hodl because I believed that Bitcoin would disrupt finance, distribute power, and improve the quality of life with lower cost transactions.

Now Bitcoin seems more like digital gold... something the rich need to store their vast wealth and move it around. Or bitcoin/altcoins are a way to gamble like trading baseball cards. That just doesn't turn me on.

We've been saying that bitcoin isn't perfect because "it's like the internet in 1990". We said that 5 years ago, and people are still saying it again today.

I'm not giving up on Bitcoin, but I've sold 50%. Now I can breathe. I still believe in the dream of a decentralized currency. Still believe in bitcoin. And going to now focus on how I can support making bitcoin a currency.

Here's exactly an example of both lack of planning, and pumpening of various shill talking points while attempting to act as if s/he/it is sympathetic to bitcoin.

If you were going to sell some portion of your BTC to feel better, you should have already done such selling (or proportional selling) a long fucking time ago.  You don't sell on the way down and especially in the vicinity of about a 55% retracement.  It is the opposite of what you shoudl be doing... and if you cannot BUYDL now because either you did not sell any higher or you did not have enough fiat in reserves, the you should be at minimum HODLing.  Strong Hands, as Adam Meister likes to repeat.   

[Cassius]

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

[Elwar]

What is the reason for this drop? I’ve seen lots of FUD in my time... but this??

This is plain stupid.

Nothing to do with any news.

Just people. People hear that bitcoin price will go up forever so they buy in. Bitcoin price stops going up and starts going down so they sell.

The snowball effect works the same when the price is going down as it does when the price is going up. Draw the same downward trend lines that were being drawn when the price was going up.

I would love for the price to drop quickly so we can get back to a rebound but it will probably be long and drawn out.

[BitcoinBunny]

[mindrust]

This doesn't look good. Going down below 8.5k

Bitcoin is dead this time for sure.

[LFC_Bitcoin]

How much lower can this possibly go? Got a feeling I’ll wake up tomorrow & see $6xxx

[fluidjax]

how much credence to you all put into the Tether playing games and NOT fully backing with USD as they claim?

assuming that .... what do you think the effects will be?

9k coin
8k coin
7k coin
6k coin

etc?

I'm hoping, IF they get burned..it will shake out to cheap coin and a rebound in price and onward and upward

(I am often wrong, however)

thoughts on what IF Tether is worst case and its effects

thanks

I think this puts the $2B Tether in perspective, on the right hand side under the 2016 - USDT

[mindrust]

How much lower can this possibly go? Got a feeling I’ll wake up tomorrow & see $6xxx

$6xxxx is where Jamie Dimon got in. I am a buyer at that point.

[Lopumbo]

That could be read as a run on Tethers -on finex because there it pays best in btc.

The kraken usdt honey pot is almost empty  

[Neo_Coin]

[Dakustaking76]

Will this ever stop??? Damn beloved one your hurting us!!!!

Guyssss.....


Still hodling

[LFC_Bitcoin]

Will this ever stop??? Damn beloved one your hurting us!!!!

Guyssss.....


Still hodling

Oh fuck yeah, if you didn’t sell at $19,000 you’d be a fucking moron to sell now

[YourMother]

The poor desperate fucks that wanted to get rich overnight are selling while i'm holding and watching this very closely https://www.reddit.com/r/Bitcoin/comments/7uj325/the_lightning_network_quietly_surpasses_over_1000/

https://lnmainnet.gaben.win/



Under normal circumstances i would have sold, because i knew that Tether was nothing but a scam, but with the Lightning Network gaining traction this rapidly, FUCK NO!