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

[TERA2]

Im just buying piecemeal now. Im not even trying to guess or trade the bottom - itll bounce too fast.

[gentlemand]

Why would anyone come back to Bitcoin...?

This reminds me of those sneaky kids in school who get in a few unseen punches of their own during someone else's fights and then runs back into the shadows.

[conspirosphere.tk]

$50 fees

Did you make any tx lately? Did you upgrade to a segwit wallet?

[egyptian magician]

Down to $6500 USD. And the real panic selling hasn't even begun yet!

[lightfoot]

Why would anyone come back to Bitcoin...?  So we can wake up tomorrow to $50 fees because one group of miners can manipulate the fee market that much.  I'm sure the trash alt markets (which are most) will be flushed, but the "real" alt markets are still strong and will continue to grow stronger during this shit show.

Bitcoin needs to scale to at least make it more costly and more risky for those who want to spam pool for profit.

I'm getting all types of calls "Why is Bitcoin going down?"... I just remind them that $50 fees are NOT the future and this is the markets slow reaction to the shit we dealt with in December 2017.

Fees seem to be down quite a bit along with the overall transaction backlog. 31k transactions in the backlog, way down from the 200k+ a few weeks ago. Maybe Segwit is working.

[Arriemoller]

Back in 2014 I bought a small copy of the wall street bull and a gilded bitcoin coin and a wooden plate to mount it on. Never got around to finish it.
Maybe it's time to do it now and make it a house altar where I can make small offerings to the bitcoin bull.

[Elwar]

I see everyone keeps looking for news or blaming some FUD or the other for bitcoin's price drop.

If this was about something having to do with bitcoin you would see the bitcoin price drop and alts remaining fairly stable.

This is about major market sentiment. A cycle that has been seen throughout history and repeated itself once again. Big money moved in, the price started to climb so everyone and their brother started buying so they could get those sweet 1000% gains that they were promised. Then we topped out and the price started going down. This is not what we were promised!?! I was supposed to be able to retire by buying bitcoins at $10k! What's happening!?! I better get out of this thing I have no clue about quickly! Sell! Sell! Sell!

The weak hands that have no clue will leave. But the big money will stay. They like volatility. We just fed the Wall Street beast the money of a bunch of ignorant n00bs and they will want more. They will play the market. They will get their money.

That is why we hodl. We understand that we cannot time the market. We do not spend every minute of every day watching the patterns and charts and use our hundreds of millions to move the market. We sit back and let others do that for us and we hold out.

All of my friends thought I was smart for buying so early. The smart part was not buying early, but not selling when the market was scary.

[bitcoinPsycho]

Down to $6500 USD. And the real panic selling hasn't even begun yet!

pessimist

[orpington]

At least this is flushing out the stupid altcoins. Bye bye alts, come back to Bitcoin.

Why would anyone come back to Bitcoin...?  So we can wake up tomorrow to $50 fees because one group of miners can manipulate the fee market that much.  I'm sure the trash alt markets (which are most) will be flushed, but the "real" alt markets are still strong and will continue to grow stronger during this shit show.

Bitcoin needs to scale to at least make it more costly and more risky for those who want to spam pool for profit.

I'm getting all types of calls "Why is Bitcoin going down?"... I just remind them that $50 fees are NOT the future and this is the markets slow reaction to the shit we dealt with in December 2017.

shitcoin promoter

[RoomBot]

Down to $6500 USD. And the real panic selling hasn't even begun yet!

[Elwar]

Fees seem to be down quite a bit along with the overall transaction backlog. 31k transactions in the backlog, way down from the 200k+ a few weeks ago. Maybe Segwit is working.

This. As a bitcoin spending advocate I had to finally stop spending bitcoins this past fall. I cracked open my credit card which I had used maybe a hand full of times in the past 5 years.

I can go back to spending bitcoins again because the fees are so low.

[bitcoinPsycho]

I see everyone keeps looking for news or blaming some FUD or the other for bitcoin's price drop.

If this was about something having to do with bitcoin you would see the bitcoin price drop and alts remaining fairly stable.

This is about major market sentiment. A cycle that has been seen throughout history and repeated itself once again. Big money moved in, the price started to climb so everyone and their brother started buying so they could get those sweet 1000% gains that they were promised. Then we topped out and the price started going down. This is not what we were promised!?! I was supposed to be able to retire by buying bitcoins at $10k! What's happening!?! I better get out of this thing I have no clue about quickly! Sell! Sell! Sell!

The weak hands that have no clue will leave. But the big money will stay. They like volatility. We just fed the Wall Street beast the money of a bunch of ignorant n00bs and they will want more. They will play the market. They will get their money.

That is why we hodl. We understand that we cannot time the market. We do not spend every minute of every day watching the patterns and charts and use our hundreds of millions to move the market. We sit back and let others do that for us and we hold out.

All of my friends thought I was smart for buying so early. The smart part was not buying early, but not selling when the market was scary.

Well said
I award you with 100 Tether merit

[marcus_of_augustus]

Yeah, let's all move in Bcash, it'll be so much better to scale bitcoin with bigger blocks size instead of smaller transaction sizes. Tall tales, bigger lies and bigger blocks is what makes bitcoin great, just ask satoshi. He was at Davos pumping Ether, honest he was.

[cAPSLOCK]

Who sold at the bottom?

We don't know that yet...

[egyptian magician]

pessimist

No, my friend. Realist. When people are telling me their 16 year old nephews are making easy money trading crypto, it means the market is way overbought.

[Elwar]

The price will probably stick at $6666 for a while.

[RayX12]

Who sold at the bottom?

We don't know that yet...

I bet Jaimie Diamond was buying!

[the artful bodger]

pessimist

No, my friend. Realist. When people are telling me their 16 year old nephews are making easy money trading crypto, it means the market is way overbought.

On a less depressing note, the bitcoinity all time charts show bitcoin is up by +138258% today.

[User705]

I see everyone keeps looking for news or blaming some FUD or the other for bitcoin's price drop.

If this was about something having to do with bitcoin you would see the bitcoin price drop and alts remaining fairly stable.

This is about major market sentiment. A cycle that has been seen throughout history and repeated itself once again. Big money moved in, the price started to climb so everyone and their brother started buying so they could get those sweet 1000% gains that they were promised. Then we topped out and the price started going down. This is not what we were promised!?! I was supposed to be able to retire by buying bitcoins at $10k! What's happening!?! I better get out of this thing I have no clue about quickly! Sell! Sell! Sell!

The weak hands that have no clue will leave. But the big money will stay. They like volatility. We just fed the Wall Street beast the money of a bunch of ignorant n00bs and they will want more. They will play the market. They will get their money.

That is why we hodl. We understand that we cannot time the market. We do not spend every minute of every day watching the patterns and charts and use our hundreds of millions to move the market. We sit back and let others do that for us and we hold out.

All of my friends thought I was smart for buying so early. The smart part was not buying early, but not selling when the market was scary.

This is well said but there’s also something to be said about being smart and trading at major inflection points or when BTC gets significantly above or below fundamentals ie production costs.  Above 10k old miners were being turned on.  Probably a good time to get some fiat.  If we get to low single K miners will start getting turned off.  That’s probably a good time to load up.  But trying to catch a falling knife now is pretty risky.  But buying back coins sold in high teens is probably a good idea now.

[rafanadal]

The price will probably stick at $6666 for a while.

no, maybe at 5000