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

[gembitz]

No real explanation for this dump.

It is really simple. BeeCash huge stop loss triggered. Bitmain is selling bitcoins to defend its corporate coin.

BeeCash new sheriff in town   >_> imo think it's time for BTI and Amaury to disrupt these Chinese provocateurs.

" Jihan Wu is a co-founder of Bitmain and a prominent supporter of Bitcoin Cash. He was ranked one of the ten most influential figures in the blockchain world by Coindesk in 2017. "

[xhomerx10]

[infofront]

Wyckoff schematic analysis:

[gembitz]

*poof!*

 

weeeeee

[ssmc2]

We need more capitulation and more volume!

[mindrust]

No real explanation for this dump.

It is really simple. BeeCash huge stop loss triggered. Bitmain is selling bitcoins to defend its corporate coin.

This is good for bitcoin. Just snatch those cheap coins before they decide to get back in.

Sooner or later they'll decide to get back in. Trust me, whoever might be selling right now doesn't know any other game than crypto. He is just trying to  make you panic sell. I hope it goes as low as $3k so that retarded shit will be left with no coins.

Any price under $20k is cheap and anything under $9k is a bargain.

See Mayer multiple if you don't believe me:
https://twitter.com/TIPMayerMultple/status/1027266749060861953

[Searing]

Bitcoin back to where it was 27 days back:

What a waste of time.

Sheeit.

Aug 7th  2017  $3,638.38 usd seems the last year was but a 'dream'  but still better ....not sure what to think....currently $6,335.00 usd btc.

My view is NOW it will bounce below 5K in that even big miners (data halls) can't pow scrypt mine ANY crypto BTC or whatever at these prices and not be at a loss....thus

they have bankers to pay etc. So I expect a big dump of btc and crypto. Or at least what I've been told by a couple of owners of such.

The choice is pay off the debts/banks and any loans with crypto. If it all goes tulips and the folk pull their contracts for miners or you are under water..you at least salvage the building

and shut your stuff off (hopefully for now). I'm talking 200 -500 unit data halls. Hell, I doubt bitmain is even making $$$ at these prices over costs...at least for their stuff in the states.

so, with those folk, in HODL mode, due to revenue and that revenue goes away as folk shut down....again gonna be ugly yet I think

brad

[Torque]

[JayJuanGee]

https://www.newsbtc.com/2018/08/08/fud-fueled-crypto-market-dumps-25-billion-in-24-hours/

We're 9.5% down in 24 hours?! Is that how much we fell? REALLY?!

Once again traders and hodlers have been suckered into the FUD frenzy and are selling out of crypto. It was hardly as if this decision wasn’t expected and nothing else has really changed in the ecosystem. Total market capitalization has plunged 9.5% on the day resulting in a loss of almost $25 billion. They are currently at their lowest point in 2018 which is just over $231 billion and the bear market is still in full effect.

Aren't you able to do your own math and assessment too?  Is 24 hours an important measurement?  Don't we need to look at both the UPs and the DOWNs and the context before we get worked up about whether 24 hours was a 7% or a 9% or a 20% drop? 

Furthermore, if we are attempting to time a little bit short term, then context becomes even more important to determine whether and how much we buy (or sell - which would be dumb) now or wait for the next price move before taking some kind of buy/sell action. 

Of course, my own portfolio has been in a dominantly buying situation since the price rise to $8,500 with my first buys occurring around $8k and so far down to $6,300 with my next buys set for a bit above $6k...   So if we look at the local top, and perhaps I am helping you out too much, then we might see shorter term significance coming from the period in which we came down from $8,500 to nearly $6,100, which is approaching a 30% drop - well 28.2% to be more specific. 

Anyhow, part of my point remains that any attempt to quibble with numbers provided by someone else (whether in an article or in a post) is to consider the context in which the numbers are presented and attempt to determine if that context is very relevant or if a different context would be more relevant (especially for your own considerations about either what to do or how to perceive the situation).

[JayJuanGee]

I voted in the last option in the pool.

But we are still at 7k.

OR

OR

Get the fuck out of here with your stupid-ass simplistic "tether manipulation" propaganda talking point(s).     

[gembitz]

I voted in the last option in the pool.

But we are still at 7k.

OR

OR

Get the fuck out of here with your stupid-ass simplistic "tether manipulation" propaganda talking point(s).    

tether-asic (pre-sales) inkomingggg =) heheeh

[Searing]

https://www.newsbtc.com/2018/08/08/fud-fueled-crypto-market-dumps-25-billion-in-24-hours/

We're 9.5% down in 24 hours?! Is that how much we fell? REALLY?!

Once again traders and hodlers have been suckered into the FUD frenzy and are selling out of crypto. It was hardly as if this decision wasn’t expected and nothing else has really changed in the ecosystem. Total market capitalization has plunged 9.5% on the day resulting in a loss of almost $25 billion. They are currently at their lowest point in 2018 which is just over $231 billion and the bear market is still in full effect.

Aren't you able to do your own math and assessment too?  Is 24 hours an important measurement?  Don't we need to look at both the UPs and the DOWNs and the context before we get worked up about whether 24 hours was a 7% or a 9% or a 20% drop?  

Furthermore, if we are attempting to time a little bit short term, then context becomes even more important to determine whether and how much we buy (or sell - which would be dumb) now or wait for the next price move before taking some kind of buy/sell action.  

Of course, my own portfolio has been in a dominantly buying situation since the price rise to $8,500 with my first buys occurring around $8k and so far down to $6,300 with my next buys set for a bit above $6k...   So if we look at the local top, and perhaps I am helping you out too much, then we might see shorter term significance coming from the period in which we came down from $8,500 to nearly $6,100, which is approaching a 30% drop - well 28.2% to be more specific.  

Anyhow, part of my point remains that any attempt to quibble with numbers provided by someone else (whether in an article or in a post) is to consider the context in which the numbers are presented and attempt to determine if that context is very relevant or if a different context would be more relevant (especially for your own considerations about either what to do or how to perceive the situation).

you are correct if BTC survives in the future...myself, I see it as going down more, with miners and data halls (big guys) now feeling the pinch. Sell some coin, keep the building/etc as a hedge, seems to be the game

now. Can't count on income and thus that would keep the banker at bay. But ugly. If BTC and crypto is not FUD'ed to death after all this, again IMHO, no ETF will be allowed with the price dump of from 18,000 usd to

now $6,358 or using these figures a dump of 64% from the bubble..in less than a year. They will use the too volatile argument and pass on all ETF's IMHO, well into 2020. This likely is the reason for the dump in price

people have lost all hope on ETF's.

So that is the choice indeed. Believe in BTC and crypto and ride it out with 1) what you have 2) with what you have and add to the stash 3) bail and sell

But, the lower the price the more the 'powers that be" gov't/regulation and just plain pushback from big money....the more likely we will lose even more ground ..under 5k IMHO.

So thems the breaks/ and bets now, the above 3 choices...crypto poker as it were....1) HODL 2) raise 3) fold.

[JayJuanGee]

Sounds about right fabio. I'm not selling, off to another day in weird-ville instead.

Still can't get over having Mario Andretti as my driving instructor, this place is seriously weird.

Wikipedia describes Andretti as living in Pennsylvania, and his activites seem to me around that location.. not in Las Vegas.

Are you saying that Andretti is currently in Las Vegas or are you getting his "driving instruction" via video, simulation or fraud (maybe what you got is something like Roger Ver acting as the "real Andretti?)?

[holzer]

I think this current dump will be the last shakeout before the next run-up.

[Hueristic]

So do you guys think this thread is becoming more relevant?

https://bitcointalk.org/index.php?topic=2730822.msg27951782#msg27951782

I'm not liking the new crop of folks that came in this past year. They don't really know anything about Bitcoin (Satoshi? Is that some sort of seafood?). They just want to see the price go up. Maybe the government can pass a law to make the price go up. That's all that matters.

[img width =100]https://i.imgflip.com/2fhpz3.jpg[/img]

I hope the price crashes to the point that they all sell the bottom and never come back until they're paying for their bread after waiting in the bread line with bitcoins.

I'm 100% behind this statement!

[gentlemand]

I'm 100% behind this statement!

Funnily enough I just got off the phone to a pal who told me he knows someone who 'lost' 400 grand in Bitcoin and had a nervous breakdown. He couldn't tell me whether he sold or not.

If anyone got in expecting eternal gains then they're a fuckstick. There's lots of rich history of utter ruination to draw on now. If at this point you're taken totally by surprise by a grinding downturn then you clearly haven't read anything beyond the 'buy' on the buy button.

[xhomerx10]

So do you guys think this thread is becoming more relevant?

https://bitcointalk.org/index.php?topic=2730822.msg27951782#msg27951782

I'm not liking the new crop of folks that came in this past year. They don't really know anything about Bitcoin (Satoshi? Is that some sort of seafood?). They just want to see the price go up. Maybe the government can pass a law to make the price go up. That's all that matters.

[img width =100]https://i.imgflip.com/2fhpz3.jpg[/img]

I hope the price crashes to the point that they all sell the bottom and never come back until they're paying for their bread after waiting in the bread line with bitcoins.

I'm 100% behind this statement!

 If by 'Tame' he meant 'Manipulate the living shit out of' then maybe...

[JayJuanGee]

Bitcoin back to where it was 27 days back:

What a waste of time.

Sheeit.

Seems silly to complain about completely normal things that markets do.. and especially what is going on with bitcoin right now.. in a kind of long consolidation phase that is unclear how long it is going to take for it to break out of its current price range or which direction it is going to break, when it does.

Of course, the BTC price could have gone spurting up to a higher points beyond $8,500 and also refused to come back down to our current BTC price location, but that is not what happened in recent history.

I am certainly not getting rich off of this whole situation, but I sold some BTC on the way up to $8,500, and I pretty much bought back all the BTC that I sold... however, if BTC prices had continued to go up past $8,500 and never come back down to below $8,500, I would have just continued to sell and the cash from those earlier sold BTC would just be sitting there in reserve in my account, possibly forever and ever.. but also possibly at some point, I would just completely remove the fiat from the table and spend it.  Another possibility for that fiat that was generated from the BTC sales, would have been to use it to buy back at a higher price point (just depending on circumstances the money serves as a reserve to buy back lower or higher until it is taken off the table).

Surely, for some of us, and you might be included in that camp, your buy sell swings need to be greater before you are going to either sell or to buy back, and so many of us could get caught in a kind of limbo because the price does not move enough to hit our price action points.  That is not a bad place to be in, either.  Personally, I do aspire to get to a point in which I can really spread out my buy/sell increments in order that a lot less action and interaction is needed by me in order for me to feel content with my overall situation, and accordingly, for me personally, I find some value in participating with my portfolio on a more active basis... by the way, it seems to me that BTC prices rising a lot higher will cause me to increase my trading ranges both in terms of dollar value and in terms of percentages.. but the actuality of the matter seems to persist that even if BTC goes to $50k or $100k or even to $1million, we are going to continue to experience a considerable amount of BTC price volatility that is going to inspire (even those who are attempting to be less involved) to pay attention to the price and to take advantage of some of the larger price swings.

[Hueristic]

So do you guys think this thread is becoming more relevant?

https://bitcointalk.org/index.php?topic=2730822.msg27951782#msg27951782

I'm not liking the new crop of folks that came in this past year. They don't really know anything about Bitcoin (Satoshi? Is that some sort of seafood?). They just want to see the price go up. Maybe the government can pass a law to make the price go up. That's all that matters.

[img width =100]https://i.imgflip.com/2fhpz3.jpg[/img]

I hope the price crashes to the point that they all sell the bottom and never come back until they're paying for their bread after waiting in the bread line with bitcoins.

I'm 100% behind this statement!

 If by 'Tame' he meant 'Manipulate the living shit out of' then maybe...

They have certainly figured out how to get their dirty little centralized hands into the cookie jar.

I'm 100% behind this statement!

Funnily enough I just got off the phone to a pal who told me he knows someone who 'lost' 400 grand in Bitcoin and had a nervous breakdown. He couldn't tell me whether he sold or not.

If anyone got in expecting eternal gains then they're a fuckstick. There's lots of rich history of utter ruination to draw on now. If at this point you're taken totally by surprise by a grinding downturn then you clearly haven't read anything beyond the 'buy' on the buy button.

I don't feel for him but that is a real kick in the nuts! Wish I had that kind of cake to gamble with, but if I did I wouldn't gamble it!

[gentlemand]

I don't feel for him but that is a real kick in the nuts! Wish I had that kind of cake to gamble with, but if I did I wouldn't gamble it!

I guess it's vastly different when oldtimers see paper gains flowing down the bog, but I'd hope anyone getting in and finding themselves in the red realises by now they're better off sitting and waiting rather than dumping now unless they need a life saving operation.

The same tale has played out a million times by now. Which should also reassure someone panicking. It will rise again.