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

[mindrust]

I will just leave this here:

https://www.youtube.com/watch?v=xdOt7UUAPiQ

 

Interesting video from a YouTube channel I follow. Funny enough we’re at $6.5K today which is the key support level mentioned in the video, and let’s see if it breaks below this due to bot or institutional pressure or whatever and then hopefully bounces up as a False Breakout like Alessio explained. I still think the long-term exponential growth line of BTC from 2011-2018 is intact, and that’s what I’ll be basing my investing on! Long live the King!

Say hello to the mods.

[1680014104]

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[1680014104]

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[mOgliE]

The lower it gets, the more bitcoins will be removed from market by long term holders' buying spree.
I would use such opportunity for sure. if it should get below 4-3-2 or even 1k as some pple here predict, Id probably raid my entire bank account ant put it all into bitcoin.

Oh god if it was to happen...
I would so fucking love to see this! That would be incredible!!!

But I don't think it will... You get more and more people saying it's crashing. Fact is that when everyone thinks it's going down the market can only go up because everyone is starting to buy to invest.

[El duderino_]

allways listen to the schwarzenegger

[El duderino_]

[Torque]

I read through the Tether manipulation paper. IMO it made two convincing points:

#1 Someone has a habit of doing this:
 - Issuing new USDT
 - Within days, moving that USDT to BitFinex, Bittrex, and/or Poloniex
 - Using that USDT to buy crypto (seemingly a portfolio of BTC & others). They especially like to buy crypto when the price is just below whole numbers.
 - Moving the resulting crypto back to BitFinex
 - Rarely or never selling the crypto for USDT again
 
The authors argue that this is Tether/BitFinex themselves, and I think that this is in fact the most likely explanation. But the authors didn't address the alternative possibility of this being a particularly ham-fisted whale who is a close partner of Tether.

#2 Due to end-of-month trading, Tether has probably always been trading with USD deposited with them (fractional-reserve), though at least until March 2017, USDT was probably not complete monopoly money, since they did go to the effort of achieving an end-of-month USD balance.

The authors also tried to argue some other points which I didn't find convincing.

Meh, theymos I know you've been around this block before.

Notice when these so-called "in-depth analysis" FUD studies come out... never during a bull run, but always after a confirmed downtrend and usually near the bottom (e.g. Willybot report, anyone? I also distinctly remember another example in mid 2014 where some well known financial institution did some "in-depth analysis" to determine the true fair market price of bitcoin forever : $1100    ).

It's not the content that is suspect. It's the timing. These "studies" are designed to do one thing, and that is to keep Average Joe sidelined at the precise time he should be accumulating.

[mymenace]

via @qew

cheers luv it, needs a repost

[mymenace]

I read through the Tether manipulation paper. IMO it made two convincing points:

#1 Someone has a habit of doing this:
 - Issuing new USDT
 - Within days, moving that USDT to BitFinex, Bittrex, and/or Poloniex
 - Using that USDT to buy crypto (seemingly a portfolio of BTC & others). They especially like to buy crypto when the price is just below whole numbers.
 - Moving the resulting crypto back to BitFinex
 - Rarely or never selling the crypto for USDT again
 
The authors argue that this is Tether/BitFinex themselves, and I think that this is in fact the most likely explanation. But the authors didn't address the alternative possibility of this being a particularly ham-fisted whale who is a close partner of Tether.

#2 Due to end-of-month trading, Tether has probably always been trading with USD deposited with them (fractional-reserve), though at least until March 2017, USDT was probably not complete monopoly money, since they did go to the effort of achieving an end-of-month USD balance.

The authors also tried to argue some other points which I didn't find convincing.

Meh, theymos I know you've been around this block before.

Notice when these so-called "in-depth analysis" FUD studies come out... never during a bull run, but always after a confirmed downtrend and usually near the bottom (e.g. Willybot report, anyone? I also remember another example in 2014 where some financial institution did some "in-depth analysis" to determine the true fair market price of bitcoin forever : $1100    ).

It's not the content that is suspect. It's the timing. These "studies" are designed to do one thing, and that is to keep Average Joe sidelined at the precise time he should be accumulating.

Yeah news everywhere

1) Bitcoin was manipulated with last highs

2) Tether

3) Bitcoin Illegal

All this news at once, nothing for weeks and boom

coordinated effort put fear in market


lets see how effective it is



it also shows desperate phase, they bringing the big guns out now because nothing else working

says volumes

[V1lpu]

[mindrust]

I will just leave this here:

https://www.youtube.com/watch?v=xdOt7UUAPiQ

 

He is basically saying;

"The next 24 hours are critical and if it doesn't go below from this point it's going to go up."

Very insightful. He also added;

"If you don't pay attention to my TA, you are a gambler."

[Torque]

it also shows desperate phase, they bringing the big guns out now because nothing else working

says volumes

Yep.

Also, the whales have to keep up the pressure to dump and short. Because they know that once the technicals turn upward for good, the thousands of trading bots take over and the start of a new bull run gets solidified. Then other long investors and traders start coming back in. They lose a bit of control over the float and the direction of the market at that point.

[Globb0]

I sold bits and pieces. Not enough that I'm not a mountain of regret. TBH

Don't forget at that convenient time everyone could have been rich. Their funds were also all tied up in KYC.

[Elwar]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

[Globb0]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

I tried to go out there a few times, to spread the merit.

Its a sad world.

[shahzadafzal]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

That is a dark truth, finding a healthy discussion on bitcointalk is as rare as seeing BTC crossing $9k mark

[mymenace]

it also shows desperate phase, they bringing the big guns out now because nothing else working

says volumes

Yep.

Also, the whales have to keep up the pressure to dump and short. Because they know that once the technicals turn upward for good, the thousands of trading bots take over and the start of a new bull run gets solidified. Then other long investors and traders start coming back in. They lose a bit of control over the float and the direction of the market at that point.

the pressure has been building for a while, but them whales got plenty of ammo
fear could intensify, multiple exchanges, legislation, that kind of shit


it lends to the strategy we have to employ of trading up and down, hodl to keep any profit driven momentum now or in the future

otherwise this pressure, if not there, i feel would see some serious new prices



eagerly awaiting the IG report (very soon, tomorrow) to see if there is any market awareness of the federal reserve manipulation under the Obama administration

[kingcolex]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

I tried to go out there a few times, to spread the merit.

Its a sad world.

Yeah I just got kicked out of the last signature campaign for not spamming enough. I'm really over it, it's essentially turning into farming of ads by third world country users, 80% of the threads are repost and the replies don't even make sense.

I decided to just throw my shitty blog on as my signature and I'm deciding to go for an old school vice style of writing. Next post, buying beer online with Bitcoin.

[shahzadafzal]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

[kingcolex]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

I mean everyone has known they've been printing tether for years now.

[mymenace]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

I mean everyone has known they've been printing tether for years now.

yep

been waiting for the announcement, did not want it now, but there it is


reminder to self: top up trezor

[gentlemand]

yep

been waiting for the announcement, did not want it now, but there it is

It's an opinion.

You need a definitive smoking gun such as the owner of Bitfinex saying on camera 'I am pulling value from thin air. Tee hee HEE' before you can put your knickers on your head and run around the garden screaming.