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

[CoinCube]

Here is a news article that covers the probable underlying cause of this drop.
Their price predictions are likely overly bearish but otherwise I found it interesting.

Bitcoin could fall below $5,000 if this report on a mysterious cryptotoken is right
https://qz.com/1196866/bitcoin-prices-could-be-40-lower-because-tether-propped-it-up/

That said I wired some money to my BTC exchange today. I am going to try and time the bottom of this one.

[1634467053]

1634467053

[1634467053]

1634467053

[1634467053]

1634467053

[Nosk]

Involving that we still are in a bull market. Plus, I think you can make a graph tell anything when you play with a logarithmic scale.

You may be right. Panic-sell like a cuck then.

My BTC are still just the same as 2 months ago, and at some point sanity will be back.

Why would I do that ?
I currently am hodling 70% of my btc on a wallet. So, yes, I sold a bit of the other 30% to try gaining profit (became a bit of a FOMO guy since last December-January).
I'm sure sanity will be back at some point, the question is when ? And can we rob the panic sellers until then ?

Anyway, a recovery to 16k by april, like the chart you linked suggest, seems a bit optimistic to me.

[Icygreen]

The FUD is getting stronger, I'm feeling it now the same nervousness from 16k-19.5k.  I know there are a lot of people waiting and now considering buying in so the price likely won't get too low or the whales will lose to distribution. Not that I entirely know how prices in this market work but strong emotions have been excellent indicators in the past. I think panic will come with the next leg or 2 down.

[Wolf Rainer]

[Last of the V8s]

[600watt]

How did you earn so many merits with your stupidity? Did you make accounts just to give some to yourself?

I know the feels when your gains are practically reduced to one third, i lost 100 bucks  

I can't stop laughing! That was freaking hilarious! I just saved that for future use!

That is the one thing i look forward to here... Absolutely Hilarious Meme!

I wanted to start a thread of just Meme.. no comments... Just Meme...

there is a thread in the speculation subforum called "meme speculation"

[hisslyness]

Nice!.. Looks like I got 40 pages to go through!

[ivomm]

May be, just may be tether exodus stopped on bitfinex for now. Tethers in https://omniexplorer.info/lookupadd.aspx?address=1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw&page=1 started to decrease moving to personal accounts. There is also some stir in the social media, big crypto whales are forgetting their feud, everyone is realizing that pumping its own shitcoin can't do any good in the coming weeks. It seems that the unthinkable will happen soon, the 'enemies' of the bitcoin will become 'friends' at least for a certain time period, to stop the crash. Telegram, tweeter, line, etc. are buzzing with speculations about some big buying offensive (esp. on gdax), going to start soon-ish. But even if this won't happen and I lose (temporarily) all my money, I prefer to hodl rather than 'protect' myself and finish with less bitcoins. This happend to me 4 times in the past and I will never do this mistake again!  

[gembitz]

May be, just may be tether exodus stopped on bitfinex for now. Tethers in https://omniexplorer.info/lookupadd.aspx?address=1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw&page=1 started to decrease moving to personal accounts. There is also some stir in the social media, big crypto whales are forgetting their feud, everyone is realizing that pumping its own shitcoin can't do any good in the coming weeks. It seems that the unthinkable will happen soon, the 'enemies' of the bitcoin will become 'friends' at least for a certain time period, to stop the crash. Telegram, tweeter, line, etc. are buzzing with speculations about some big buying offensive (esp. on gdax), going to start soon-ish. But even if this won't happen and I lose (temporarily) all my money, I prefer to hodl rather than 'protect' myself and finish with less bitcoins. This happend to me 4 times in the past and I will never do this mistake again!  

mastercoin is nothing new, now just cuz u call it tetherball doesnt make it not a shitcoin lol

[e-coinomist]

I suspect the shearing will be complete after tomorrows delegation.

https://coingape.com/why-february-6th-is-significant-for-cryptocurrency-market/

....

Recall, CFTC recently filed lawsuits against two companies about fraud and deception of cryptocurrency investors."

A hint whom they had been? Could explain recent market moves.

[RejectedBanana]

The FUD is getting stronger, I'm feeling it now the same nervousness from 16k-19.5k.  I know there are a lot of people waiting and now considering buying in so the price likely won't get too low or the whales will lose to distribution. Not that I entirely know how prices in this market work but strong emotions have been excellent indicators in the past. I think panic will come with the next leg or 2 down.

I'm getting real close to panic buying. Last time that happened was the drop from $3k to $1.8k.

Edit: If it drops to $5k I might sell the house. 

[lightfoot]

Good idea: I'm checking up on the current price for my soul.... :-)

[Nosk]

Well... Just took a look at https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html and it seems like whales are purely playing with the market.

Looke at those adresses (top 4 of the blockchain adresses in term of number of bitcoin detained) :
One dumps 7000btc, the other buys 7000 btc, one dumps 20k btc, the other buys 14k...

Should we expect a massive rise, as that they have played with the market to make it sink and will surely make it rise to gain profit ?

[mindrust]

Do not worry this is a very healthy correction.

We are just getting rid of dumb money in crypto. If you didn't do stupid things to buy crypto (like borrowing money from banks) then you have nothing to fear. Just hodl it. People who did these stupid things however, they r.i.p.

Last time i've seen this shit ( the dump after Gox in 2013 and the pump after) i made a promise to myself. I won't play this sell high buy low game. Buy&Hodl. That's all matters. If you think we will never ever see $20k and upwards again, you should dump everything you have and leave crypto immediately.

[e-coinomist]

Well... Just took a look at https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html and it seems like whales are purely playing with the market.

Looke at those adresses (top 4 of the blockchain adresses in term of number of bitcoin detained) :
One dumps 7000btc, the other buys 7000 btc, one dumps 20k btc, the other buys 14k...

Should we expect a massive rise, as that they have played with the market to make it sink and will surely make it rise to gain profit ?

Number 2 beeing a tradesite. Everything featuring thousands of transfers is no single entity.
One could argue if those, swarm intelligence, act any wiser.

edit: oh wait, it's BittrexFinex coldsotrage, gaining weight

[Nosk]

Yes, I just grabbed examples. If you look further, you can see wallet IDs with +10000, +2000 and such.

[gembitz]

Good idea: I'm checking up on the current price for my soul.... :-)

 

weeeeeee

[Thekool1s]

there is a thread in the speculation subforum called "meme speculation"

Why was it locked? Went through couple of pages.. it looks fun..

[Rosewater Foundation]

Still no sign of a bounce. Somebody sacrifice a goat.

[El duderino_]

Do not worry this is a very healthy correction.

We are just getting rid of dumb money in crypto. If you didn't do stupid things to buy crypto (like borrowing money from banks) then you have nothing to fear. Just hodl it. People who did these stupid things however, they r.i.p.

Last time i've seen this shit ( the dump after Gox in 2013 and the pump after) i made a promise to myself. I won't play this sell high buy low game. Buy&Hodl. That's all matters. If you think we will never ever see $20k and upwards again, you should dump everything you have and leave crypto immediately.

The best strategy the buy/hodl F*** the rest Thats happening ,is the one wroten often in This threat and agreed mostly on ...... but still i think Many of those that agrees on This strategy don’t really do iT allways and still find ways to panic and sell @ ridiculous prices maybe breake even ,or with very little gains ,or maybe with losses ,but Just keep in mind Why you are in btc for and if its for the long term glory than Just hodl thru and ride the waves doesn’t matter in what kind of forms/Sizes they come Just relax and keep riding them