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

[d_eddie]

Our assets are sore from too much correlation.

[goldkingcoiner]

I knew this was going to happen. 1 day indicators were all pointing to the bears but I still missed out on buy in at bottom Aw. Well. Maybe. Seems like this is not over yet. Waiting for next 12 hr candle. Weekend pump?

[leetlezee]

The point is market manipulation on a large scale exists behind the scenes that is never covered by the news / brought to light. Not all institutional investors were/are involved in the manipulation and therefore got burned by the crash earlier this year, while naturally, some HODL-ers are on the richlist (it's easier to have lots of Bitcoin if you acquired/mined it when it was cheap), and some retail traders have gotten lucky and hit it big. The point is the average Joe who is trying to get into Bitcoin is essentially robbed of his money by market manipulation he has no idea even exists.

But then again, market manipulation exists in other markets as well... stock, commodity... they just have more regulation, so it's easier to get caught.

This concept of being robbed by manipulation seems to be going a bit too far.  Markets have dynamics, and you gotta prepare for those dynamics if you are either investing or trading...

Robbed probably isn't the best word. Possibly "forcibly lost"?

I completely agree that you need to be prepared for the dynamics of the market. Most people who jumped in and bought Bitcoin in the later half of 2017 were not thinking with their head. And they were definitely not familiar with the market dynamics.

The crypto market right now is like the wild west in the movies. Wild, crazy, unpredictable, and unregulated. Which can be good... and bad.

Introducing regulation to help minimize the bad actors will help in some ways (making it harder for legitimate businesses to be involved in manipulation), and hurt in a lot of others (making it harder for everyone else to be involved in anything).

So the answer, for now... is to do the best you can with the information you have. Which... BTC price just dropped. Anyone up for buying some more?  

[cryptokwuk]

I knew this was going to happen. 1 day indicators were all pointing to the bears but I still missed out on buy in at bottom Aw. Well. Maybe. Seems like this is not over yet. Waiting for next 12 hr candle. Weekend pump?

Don't worry, this current crash is far from over, we still have along way down to go.

[d_eddie]

If we can hold the $6k floor through to the end of January, then it’s on like Donkey Kong.

...and if we can't, a conservative short might be the ticket.

You are vocalizing this "shortie thingie ma jiggie" a lot, recently.  Getting me worried in a kind of maternal sense.

Don't worry mom, I always wear a condom.

Even with a condom on, the ride is still fun.

In more technical words: my condom long is still standing and suffering. I wish I could have closed it earlier, or nursed it to a lower entry.

However, my other, hedging, opposing position (which I won't name explicitly to avoid a worried maternal figure) has granted me a nice, uh, money shot. And it still has some juice. I've just placed a few take profit stops on the way back up, and a fat asset one lower than here.

I'm set up. I know the possible outcomes of this position. Peace of mind. No more compulsive price checking for a while. No thirst for gambling, though I might buy some moar physical coin if things go further south.

(I did gamble a bit a couple weeks ago, against BCH, and I won. I could have squeezed more out of it, but I acted conservatively.)

This (apart from the BCH gamble) has nothing to do with my hopes or beliefs. It's just that this system does work for me.

[jbreher]

So the answer, for now... is to do the best you can with the information you have. Which... BTC price just dropped. Anyone up for buying some more?

Just did.

[jojo69]

I knew this was going to happen. 1 day indicators were all pointing to the bears but I still missed out on buy in at bottom Aw. Well. Maybe. Seems like this is not over yet. Waiting for next 12 hr candle. Weekend pump?

Don't worry, this current crash is far from over, we still have along way down to go.

meh

as long as 4250 holds it's all good

[d_eddie]

Don't worry, this current crash is far from over, we still have along way down to go.

Username checks out.

[marcus_of_augustus]

Relax. It's not correlation. BMB==RosewaterSewer has always been a bear and is probably stealth-mode LambChopsBiscuitGravy anyway.

Btc dump has come after the markets have been leaking and drooping for a few weeks now, so it is most definitely due to the liquidating of more profitable positions to pay margin call and shore up other worse bets.

Remember, remember the 10th of October (and then the 5th of November). Big moves are afoot, position yourselves for the next rally, not the previous dump.



Note the date 10/2018.

[jojo69]

holy Asian selloff batman

the nikkei is down like 4% or something...lol

[Paashaas]

We all know the destination of Bitcoin.

[marcus_of_augustus]

https://www.youtube.com/watch?v=5PUwr8DsYeg

history never repeats, but it often rhymes .... stocks catching up to bond troubles, real estate boom finishing, characterising as a "correction" not a crash, the bear is back chaps.

[Biodom]

These types of crashes (1987-light) are never precursors to a hard recession, depression, unless tariffs/trade wars are also involved...
Wait a minute....

[Icygreen]

I'm feeling 6200 is CHEAP!  A similar feeling when I said the same at 4k's.

[Rosewater Foundation]

Relax. It's not correlation. BMB==RosewaterSewer has always been a bear and is probably stealth-mode LambChopsBiscuitGravy anyway.

Sure, I'm the bad guy.

[jojo69]

you are, both, of the bad guys

[JayJuanGee]

Bitfinex at 100$ BTC premium What is going on?

Tether is trading at $0.98 USD.  It’s a risk premium of dealing with Bitfinex.

Thanks, crazy times ahead maybe?

Actually this premium is quite reasonable. Bitfinex dollars are more valuable than Fed dollars! Bitfinex dollars can be instantly converted into bitcoins in contrast to Fed dollars that must overcome many bank-related obstacles till they're credited to your exchange account.

So much crazy information about Rippel and their involvement in BTC price manipulations. Problems with audits and not clear story with backed funds make this cryptocurrency a mystery. I am using it from start and I will say that Rippel opens the doors for many people to easily buy and trade BTC and other cryptos. I know for sure that they had a lot of impact on last year bubble.

Lately, with so many pegged coins, I try to split my holdings between few of them to minimalize the risk involved with "all eggs in one basket".

What kind of relationship do you believe exists between ripple and BTC (or some other shit coins that might have such relationships)?   Are you suggesting that ripple and or some other shit coin caused the bitcoin pump  last year or bitcoin caused the pump and ripple was able to pump even more from time to time or some kind of more complicated symbiotic (back and forth relationship)?

Are you proposing that it is a good idea to hold onto a few of these various pumpable shit coins based on pump theories that allow you to in the end, accumulate more dollars or BTC or are you trying to accumulate more of the shit coins? 

Do you have decent strategies that involve a variety of coins that allow you to spread your risks, and over what time line?   How much do you play with in terms of percentages?  Or you keeping a decent percentage in BTC or completely abandoning BTC for amorphous reliance on various alt coin pump strategies?

  Do you have articles that specifically describe your theories about possible value in holding ripple or various other shit coins or are you compiling information from various sources to come your own ripple/shitcoin/BTC theories?

Is what you are saying about a possible relationship between bitcoin and the pumping of various alt coins, including ripple, topical to this thread, or is it merely about pumping ripple or some other shit coin without any real evidentiary or logical basis for how such shit coin pump  dynamics relate to BTC, exactly?

[JayJuanGee]

No one gives a shit about Bitcoin. No one knows what a Bitcoin is. There is no hope. Years and years of slow down-sloping hopelessness. I've come to terms with it already. It's as if this has already happened...I'm at peace. See?

You have such erratic ups and downs that you are totally all over the place.

A few days ago, I  thought that you were leaving... but apparently that blowing of the winds, only lasted for about 24 hours... go figure?

perhaps grandma came over and brought you some cookies? a sandwich? or some squid?

[jbreher]

"Be greedy when others are fearful."

[JayJuanGee]

Our assets are sore from too much correlation.

Seems to be a short term perception.