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

[PoolMinor]

Heres the volume in BTC.  I think its hard to say that we aren't still in an overall trend of declining volume since Dec 2017.  

The cryptowinter recovery was on very low volume, but after the biggest spike in volume in Bitcoin history.

This chart is meaningless less than accurate. Edited for less harshness

You cannot chart one exchange for volume, the time frame for this chart, this was one of 3 main exchanges during the 2013-2014. Now there are many many more exchanges for bitcoin, if you could find one that charts total volume across all exchanges that would be worth analyzing.

[eddie13]

if you could find one that charts total volume across all exchanges that would be worth analyzing.

That's why I chose the CMC chart, but I didn't find a button to turn the vol into btc.. https://coinmarketcap.com/currencies/bitcoin/#charts
I like to use the bitcoinwisdom chart but the vol wouldn't be accurate for the entire market..

It's crazy how a tiny exchange will grow to be the biggest exchange and then all the volume will just go to another exchange and they never stay the same.. The volume just flows around..

[HairyMaclairy]

Not meaningless but fair criticism.   The best I can do is volume in USD terms, which is declining from peak. But hard to eyeball BTC volume from this chart.

Edit:  chart update better date range

[eddie13]

Not meaningless but fair criticism.  

Agree..



Just googled and found this one








It's pretty cool and has a pie chart of the exchanges volumes like you usually see for mining pools hash rate.. Nice!


So yeah, by BTC volume it does look a bit slow..
But that in USD these days is a big deal apparently..

[HairyMaclairy]

Got a link please ?

[eddie13]

Got a link please ?

aw shit I meant to post it..

https://data.bitcoinity.org/markets/volume/6m?c=e&t=b

Naw, that can't be right either..

It shows the volume falling off in jan of 17..
I can't imagine that to be the case buy why..

The pie chart colors correspond to different exchanges than the chart colors with a different legend, lol wtf..

looks like around that time the Chinese exchanges got their volume cut from the count? idk

[HairyMaclairy]

I can’t filter the fake exchanges but here we go

[jbreher]

I can’t be bothered arguing with Jbear about bcash lol.  It’s much too nice a day for that.  

Well, something to agree upon.

https://imgur.com/gallery/LK3cT7z

 That is a beautiful view.  Is it all yours or were you just visiting?

Thanks. Mine. Here for a handful of days and nights. Doing some late season maintenance, coinciding with deer muzzleloading season. Mending fences with a rifle in my hand - on the chance one blunders my way.

[HairyMaclairy]

Whoah

Is volume actually increasing?   This is Bitfinex only, weekly data, line chart, 6 months.  



Hmmm this is monthly data



Is that a bottom for 2018?

[eddie13]

https://www.blockchain.com/charts/trade-volume?timespan=all
USD volume seems to be increasing since june..


CMC since june





Up a little..

Price has pretty much been the same since then excluding a high it hit..


the end of june seems to also have been the lowest low price...

Was june the bottom?
Is june the reversal?
moon soon?

[Gab0]

I do not see that the volume is decreasing. Actually, let's go sideways.



https://www.coinsignals.trade/
Credits: @coin_signals
Very useful page. You can draw CMC graphics.


https://cryptoiq.co/coinsignals-trade-the-answer-to-every-crypto-technical-analysts-hopes-and-dreams/

[HairyMaclairy]

I was expecting a bottom of $5700.  Instead we got $6100 and a bounce.  And volume should be dropping but seems to be slightly rising on average.   We should rally in October - December but maybe we are early.  Bullish.

[bones261]

I was expecting a bottom of $5700.  Instead we got $6100 and a bounce.  And volume should be dropping but seems to be slightly rising on average.   We should rally in October - December but maybe we are early.  Bullish.

Do you think the impending news on the 30th of September will dampen any October rally, if it turns out rejected or delayed? Or do you think that this is already priced in?

[Anon136]

I was expecting a bottom of $5700.  Instead we got $6100 and a bounce.  And volume should be dropping but seems to be slightly rising on average.   We should rally in October - December but maybe we are early.  Bullish.

Do you think the impending news on the 30th of September will dampen any October rally, if it turns out rejected or delayed? Or do you think that this is already priced in?

I know you aren't asking me but I suspect at this point a no vote is absolutely priced in. So if there is a no expect little to no action but if there is a yes...

[infofront]

ETF delay incoming, 99% certain.

[Elwar]

I was expecting a bottom of $5700.  Instead we got $6100 and a bounce.  And volume should be dropping but seems to be slightly rising on average.   We should rally in October - December but maybe we are early.  Bullish.

There's an ETF rejection date coming September 21st so the Wall Street folks are ignorantly hedging for a Bitcoin ETF.

[HairyMaclairy]

I was expecting a bottom of $5700.  Instead we got $6100 and a bounce.  And volume should be dropping but seems to be slightly rising on average.   We should rally in October - December but maybe we are early.  Bullish.

Do you think the impending news on the 30th of September will dampen any October rally, if it turns out rejected or delayed? Or do you think that this is already priced in?

Already priced in.  If I had to make a prediction I would say we will get a sharp dump that immediately corrects and retraces.

[AlcoHoDL]

Wow, I found the WO thread way down the Speculation page. That's so rare...

Speaking of BCH (a.k.a. Bcash LOL), the 5-minute chart looks weird. Like a normal chart after being fired at with a bunch of AK-47s... Not many transactions/activity happening it seems.

Reminds me of Stephen King's  "Desperation"... And of this:

[HairyMaclairy]

First 20 seconds is an animation.  So wait past that.

https://txhighway.com

[Paashaas]

RSK is streaming up.

I don't hate ETH but Rootstock offers a much better smart contract solution than Vitaliks version.

I foresee the flippening.

https://hackernoon.com/second-layer-on-top-of-bitcoin-rootstock-rsk-explained-88ab724222b2

https://captainaltcoin.com/rsk-bitcoin-sidechain/