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

[starmman]

No earthquake, no imminent disaster, no fear, no Gox. This weekend is just starting earlier because of Easter. Weekdays resume on Tuesday.

How low’s it gonna be by then though? I’m sensing a drop to $5xxx which would suck!

Feels bad enough at the £5xxx range its in now - guess it depends upon how much more FUD comes out of the mainstream news outlets - stock markets are dropping a little and they are trying to make sure BTC isn't used as a  store of value

[bakasabo]

I think in next 2-3 week Bitcoin price will be back to 10k $.
Due to huge Bitfinex Plans Move to Switzerland, some big amount of money will now held in Europe, which is more open to cryptocurrency and is not as strick as Asian government.

Bitfinex tries to be more "see-through" exchange and already has passed all the requirement of Switzerland regulators.

source: https://bitcoinmagazine.com/articles/cryptocurrency-exchange-bitfinex-plans-move-switzerland/

[valkener]

I don't usually post here but in my opinion the current downtrend and stagnation is because of the mt. gox coins. It's like a looming sword hanging over bitcoin. I didn't buy into most FUD like China ban, Korea ban, etc. but personally when I read that Kobayashi sold thousands of coins, and could possibly sell many, many more it was the first time I actually got worried for bitcoin. If I was an investor, and thinking of investing a million or two, into bitcoin, this news would absolutely change my mind. Not only is it very plausible that those coins can be sold in the near future, but the impact is very clear.

I don't think the crash from the ATH was caused by Kobayashi, but I think the current stagnation and continuing down-trend certainly was. It has made people much more cautious and the only way out of this is if the court in Japan would release a statement that these coins will 100% not be sold but returned to the original owners in some fashion (as they should be). I know there was a statement that, until September, there will be no further sell-off but as an investor, 6 months are too soon for me to risk any significant amount just to have bitcoin dumped by a whale, or more appropriately, the mother of all whales. I am hoping this is not discouraging, I hope to be wrong and believe this can be turned around but to be honest right now I don't know how.

[Raja_MBZ]

March Futures contracts on bitcoin are ending in next 24 hours. Rapid moves can be expected at times approaching futures contract settlements.

Bitcoin dominance now 45.6%.

Next 24 hours are going to be interesting, if it touches $7300 and bounces back, it'd be a double bottom with the last dip.

[d_eddie]

No earthquake, no imminent disaster, no fear, no Gox. This weekend is just starting earlier because of Easter. Weekdays resume on Tuesday.

How low’s it gonna be by then though? I’m sensing a drop to $5xxx which would suck!

Low $6xxx surely.

Another SureFire estimate(TM) by SOMA Analytics!

(c) 2018 Straight Off My Ass

[STT]

No earthquake, no imminent disaster, no fear, no Gox. This weekend is just starting earlier because of Easter. Weekdays resume on Tuesday.

I think weakness would be mostly attributed to end of tax year?     Its left a regular downtrend, this is just irregular selling.   I would put a target of 7300 for the last trend as a bottom and 8300 as a target upside that would meet alot of the trades with price previously going sideways.

I'm not certain its in play yet or not but theres a very old trend going back to last May, price is now about 6991.   Its the same line which formed the bottom in Feb

[icoping]

We're going back to 3k for the next accumulation phase before the next major bull run in 2019/2020.

[fragout]

As bad as it looks at the moment. The order book on bitstamp looks much different today. Gone are the series of walls which stopped any movement to the upside and its basically flat above $7800. Of course they can reappear at any time but they were constant over the last month or so.
It will also take a catalyst to get things moving

[Torque]

Guys, your reasons for the continuing downtrend are all wrong.

It's pretty simple.

1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.

2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.

3. Whale(s) massively short sell/dump in one go. Ending bull run.  Whale mega money then sits on sidelines.

4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.

5. Average Joes finally lose interest. Sell at bottom.

... and then... eventually... (*we are not there yet*)...

6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.

There are no "reasons". There are no plausible "FUD". Its just the way it goes.

[Asrael999]

Guys, your reasons for the continuing downtrend are all wrong.

It's pretty simple.

1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.

2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.

3. Whale(s) massively short sell/dump in one go. Ending bull run.  Whale mega money then sits on sidelines.

4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.

5. Average Joes finally lose interest. Sell at bottom.

... and then... eventually... (*we are not there yet*)...

6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.

There are no "reasons". There are no plausible "FUD". Its just the way it goes.

Exactly - and 6 will not start until maximum despair

The only way to win is not to play.

[_javier_]

Guys, your reasons for the continuing downtrend are all wrong.

It's pretty simple.

1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.

2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.

3. Whale(s) massively short sell/dump in one go. Ending bull run.  Whale mega money then sits on sidelines.

4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.

5. Average Joes finally lose interest. Sell at bottom.

... and then... eventually... (*we are not there yet*)...

6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.

There are no "reasons". There are no plausible "FUD". Its just the way it goes.

and you just surf the waves that whales do. Profit!

[Jacques_Bittard]

Guys, your reasons for the continuing downtrend are all wrong.

It's pretty simple.

1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.

2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.

3. Whale(s) massively short sell/dump in one go. Ending bull run.  Whale mega money then sits on sidelines.

4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.

5. Average Joes finally lose interest. Sell at bottom.

... and then... eventually... (*we are not there yet*)...

6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.

There are no "reasons". There are no plausible "FUD". Its just the way it goes.

Avarage Joe hasn't lost interest yet. You still seem very interested.

[rafanadal]

So, it's all pump and dump, but what's the true value of bitcoin?

is 7k cheap enough for these fuckers ? or do we have to go lower ?

[d_eddie]

Guys, your reasons for the continuing downtrend are all wrong.

It's pretty simple.

1. Whale(s) spend a full year pumping Bitcoin and altcoins to the moon, using massive leverage.

2. Whale(s) gain control of the float and thin it out, pushing prices to the moon.

3. Whale(s) massively short sell/dump in one go. Ending bull run.  Whale mega money then sits on sidelines.

4. Whale(s) use lotza coins to squeeze remaining float up and down to make money trading. Mostly down.

5. Average Joes finally lose interest. Sell at bottom.

... and then... eventually... (*we are not there yet*)...

6. Whale(s) use sidelined mega money to scoop up cheap coins at the bottom. Downtrend over. Next bull run starts.

There are no "reasons". There are no plausible "FUD". Its just the way it goes.

Avarage Joe hasn't lost interest yet. You still seem very interested.

Except he isn't Average Joe.

P.S. Are we not overfeeding the trolls? They're growing a bit fat and bold. Their smell is starting to make the place unpleasant to visit.

[Phil_S]

Maybe it's time to get back to $8000? Maybe tomorrow?

[Aqua Man]

Maybe it's time to get back to $8000? Maybe tomorrow?

Seems possible. I don't believe those who say we go below 5k but let's see

[greensheep]

woop woop

Blockstream Inc, a blockchain solution company founded in 2014, has released a new Lightning App (LApp). It’s a WordPress plugin that allows users to accept payment in Bitcoin and other Lightning network supported crypto-currencies.

https://blockmanity.com/wordpress-websites-can-now-accept-instant-bitcoin-payments/

[Jacques_Bittard]

Except he isn't Average Joe.

Oh yeah? Please explain.

[gembitz]

No earthquake, no imminent disaster, no fear, no Gox. This weekend is just starting earlier because of Easter. Weekdays resume on Tuesday.

How low’s it gonna be by then though? I’m sensing a drop to $5xxx which would suck!

Feels bad enough at the £5xxx range its in now - guess it depends upon how much more FUD comes out of the mainstream news outlets - stock markets are dropping a little and they are trying to make sure BTC isn't used as a  store of value

who will buy with real bread sub $5000?   hehe

[gentlemand]

woop woop

Blockstream Inc, a blockchain solution company founded in 2014, has released a new Lightning App (LApp). It’s a WordPress plugin that allows users to accept payment in Bitcoin and other Lightning network supported crypto-currencies.

https://blockmanity.com/wordpress-websites-can-now-accept-instant-bitcoin-payments/

The more good news we get the more gloomy it'll be. 2014 was possibly the high point for good news. That just made Bitcoin double down on the fountain of feculence it was blasting into your gullet.