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

[Neo_Coin]

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[Enjel]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

But some people want it to be too damn fucking quick and easy. They should know better.

Sure. It's still both.

I went from being on welfare to being financially independent in 4 years. That's quick fucking money. And I had to sit through a brutal multi-year bear market at a loss for most of it, imagine the people who bought at the bottom.

How did you get enough coins to do that if you were on welfare? Most people on welfare can barely afford to eat and cloth themselves, let alone buy stacks of coins.

By being a literal genius, and with some help from the family.

That is impressive! It sure beats getting a minwage job and working as a slave, getting nowhere financially.

[conspirosphere.tk]

Prediction:  

We will go to $7.4k within eight hours from now and then whipsaw back to over $8k.

A retest would inspire confidence that the bottom is in, if it holds.
Then we're ready for another round.

[HairyMaclairy]

Prediction:  

We will go to $7.4k within eight hours from now and then whipsaw back to over $8k.

A retest would inspire confidence that the bottom is in, if it holds.
Then we're ready for another round.

I’m predicting a penetration of the bottom, but only by a few hundred dollars, which will keep everyone guessing.

It will be a good test of how my analysis model stacks up.  If we just go up over the next 8 hours then I need to re-evaluate my interpretation of the data.  All figures refer to Bitstamp price.

[bones261]

I wonder if it is good news that Finex/Tether has not printed any Tethers since the 23rd of January.

[jojo69]

It’s also retarded that you can gamble on credit cards. It’s not your money.

It's not your not-money.

my only merit...sir

[toknormal]

https://modernconsensus.com/2018/02/02/circle-set-acquire-poloniex/
By Ken Kurson, February 2, 2018
Ken Kurson, founder of Modern Consensus, is on the board of directors of Ripple.

Aaghhh !

Full mandatory verification incoming. Holdings stuck on exchange forever now.

[jojo69]

Biggest Dow drop in years today. But Crypto is dead.

god DAMMIT!

out of merits

[JayJuanGee]

Has anyone else gone through an obscene amount of alcohol in the last seven days or is it just me?

Probably just you....


hahahahaha


I'm just kidding.   

Even when I feel quite calm cool and collected (with a decent plan to advantage from this seemingly extreme downwards volatility), the situation can still be stressful - because us BTC watchers can never really be sure what price point is going to hold, exactly and when the downward momentum is going to end, exactly. 

This reversal in the past 10 hours at $7,625 does seem to have been based on a decent amount of dump spike volume that would be relatively convincing that the bears should have blown their wadds - but gosh.. we can never be certain until perhaps being more certain after we bounce back above a certain price point, perhaps that price point is above $12k-ish, currently?

It feels like just traders are left.  Tether/Bitfinex still unresolved.  Bitconnect might not have been a lot of money relative to bitcoin but it was a lot of people who are derping on YouTube and everywhere else “fuck all crypto”.  ICOs are either getting sued or getting C&D by Texas.  Anecdotal evidence points to 20k being top for a while.  People in this thread retiring by selling above 10k likely means they won’t buy back at above 10k so that segment is gone.  The regular people are gone.  I have a friend who’s a multi millionaire.  Double digits.  He got burned on LTC by buying it above $300 when stupid TV was pumping it with “three simple reasons why it’s better then bitcoin” and last time I tried throwing him some signals like set your bitcoin buys at mid 8s, mid 7s and his response was “fuck this, I ain’t dropping another penny on this shit”.   He got burned by the stock market a while back and to him this is just another market.   Nothing special or different.  Of course I could be wrong and who knows maybe hedge funds will buy to manipulate the futures market.  People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

You touch upon several decent news talking points, yet there remains a lot going on in bitcoin, which seems to suggest that this latest price correction to merely have been within the realms of a normal pullback, after a bit of too much exuberance.  

I think that the time range for recovery and hitting upon ATHs again is most likely in the 3 month to 18 month arena.  There are just too many good developments in bitcoin, and even this current price correction has not drug us into a bear market, yet.  Surely, I doubt you are even implying a bear market, yet, but if anyone wants to argue or suggest that we are now in a bear market, I assert that any such bear market assertion remains premature

I would say that if we go below $5k and stay there for any kind of meaningful time period then at that time we can start to talk about a bear market.  Otherwise, the bull market remains.  Of course if we dabble in the $5k to $7,500 territory for some kind of meaningful time, also, then at least a bear market discussion becomes more within the park of reasonable contemplation.  

Your example of Bulls retiring above $10k probably does not seem a representational phenomenon.  Accordingly, some bulls may have cashed out some coins above $10k, but with the passage of time, even these bulls may buy back above $10k, especially if they are buying in the context of a dip... so with the passage of time, lots of things can happen.... the price goes up, the price goes down.  

Regarding folks who bought in above $12k or even above $15k, they are not losers unless they cashed out lower than they bought, and there remain a variety of possible plans that can allow these above $12k buyers to bring down their average price per BTC or just ride out the market by HODLing.

[smartcomet]

Hodl as long as you can. Spend only when you must.

[fabiorem]

Seems we stopped at 8k.

There was a period where the price consolidated on that level, in november if Im not mistaken. It stayed one week on there.

It was assumed that money coming after 8k was mostly institutional, coming from Wall Street.

[the artful bodger]

https://modernconsensus.com/2018/02/02/circle-set-acquire-poloniex/
By Ken Kurson, February 2, 2018
Ken Kurson, founder of Modern Consensus, is on the board of directors of Ripple.

Aaghhh !

Full mandatory verification incoming. Holdings stuck on exchange forever now.

Are you sure that's legit? That site was anonymously registered less than two months ago on 15 December, and I can't find any other news sites running that story.

https://www.whois.com/whois/modernconsensus.com

Registration Date:2017-12-15

[Torque]

Biggest Dow drop in years today. But Crypto is dead.

https://twitter.com/StephenKing/status/959565970644889601

Lol

[fabiorem]

I wonder if it is good news that Finex/Tether has not printed any Tethers since the 23rd of January.

They need to buy real dollars to show to the coming audit. Only when they have the truck loaded and the audit done that they will print more.

I hope they print 10x more, just to watch r0ach post a dozen of walltexts about ponzi schemes, silver, jews, women, etc.

[CaptDero]

What's the logic behind both crypto and stocks going down together ?
Do same set of people invested or influence the both or just natural ?

[JayJuanGee]

Biggest Dow drop in years today. But Crypto is dead.

https://twitter.com/StephenKing/status/959565970644889601

Lol

Oh my!!!!!


The Torque-method.  An alliance.   

[bones261]

I wonder if it is good news that Finex/Tether has not printed any Tethers since the 23rd of January.

They need to buy real dollars to show to the coming audit. Only when they have the truck loaded and the audit done that they will print more.

I hope they print 10x more, just to watch r0ach post a dozen of walltexts about ponzi schemes, silver, jews, women, etc.

Wouldn't a decent auditor pay attention to dates and times? Or do they now have a bank that's willing to fix the books? I suppose they could  persuade Omni to do a hard fork to change those dates and times too.

[fabiorem]

Wouldn't a decent auditor pay attention to dates and times? Or do they now have a bank that's willing to fix the books? I suppose they could  persuade Omni to do a hard fork to change those dates and times too.

The point in case is that every single tether should be backed by a dollar bill. I think this is what the regulators care most about.

[Rosewater Foundation]

So, who sold at the bottom? Bear trap is over and according to masterluc we're in the beginning of the 4th wave. From this point we're going UP!

it's not over until rosewater and I are passed out in a pool of broken glass, tears, and our own vomit

does that happen often?

Naw, we cool.

[PoolMinor]

https://modernconsensus.com/2018/02/02/circle-set-acquire-poloniex/
By Ken Kurson, February 2, 2018
Ken Kurson, founder of Modern Consensus, is on the board of directors of Ripple.

Apparently the above is false information.
https://twitter.com/AriDavidPaul/status/959598411954651136