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

[JayJuanGee]

via Imgflip Meme Generator

  LOL ,BCH what a Joke......

Largely, I think that the described terms of the proposed Song/Ver bet (from earlier today) are fair, yet I believe that the bet would be more fair and unambiguous if the median average period for either BCH or BTC to be lower than 200 to 1 should be for a period of 90 days rather than 30 days.

[Paashaas]

Lightning integration in Electrum.

https://www.bitcoinwednesday.com/speakers/thomas-voegtlin-founder-ceo-electrum

[JayJuanGee]

This should pump up the price of BTC pretty fast when those who are wanting to buy this petro coin are needing bitcoin to do so on Nov 5.
https://www.reddit.com/r/CryptoCurrency/comments/9kzzgv/due_to_hyperinflation_venezuela_goes_full_on/

Coincidentally the same date that Bakkt launches its BTC product.    I have a decent amount of skepticism regarding whether the Petro will be in any kind of meaningful demand, even though it seems to be a decent experiment in order to attempt to figure out how such a product is going to be received by markets.

[JayJuanGee]

TBH brutally honest, I'm finding drinking is a total de-motivator. Can't get anything productive done 'cause I'm just too zoned out and depressed. Can't leave the house to go driving anywhere for obvious reasons.

Trying to work on passion-projects and feeling I should be "further along" with producing material in my retirement so far.

My list of projects to tackle is starting to get backlogged, and the drinking isn't helping.

KnowwhatImean ?

Well, keep drinking.  That should help.  

It’s not a capitulation until everyone despises everyone else

fuck you Hairy

Fuck you jojo.

And double-fuck that JJG guy. I hate him so much I blocked that fucker.

infofront, fuck you, for no reason in particular.

You are wonderfully likeable Bob, you blob.   

[elrippos friend]

Yeeaaaahhh, Monero rising 

Good comedy screwed up with alt coin pumping.  Shame on you, elrippos friend!!!!!   

Dear JayJuanGee, go fcuk yourself 

Shame on you, elrippos friend.

Failure and refusal to acknowledge, admit or feel bad about your off-topic shit coin pumping behavior. 

Dear JayJuanGee, you honestly believe there is no alternative to BTC and calling me? WOW!

[elrippos friend]

one of the so many predictions..... let it come

Nice idea, but more then 15.000.000,00-/BTC would be quite interesting 

[JayJuanGee]

Yeeaaaahhh, Monero rising 

Good comedy screwed up with alt coin pumping.  Shame on you, elrippos friend!!!!!   

Dear JayJuanGee, go fcuk yourself 

Shame on you, elrippos friend.

Failure and refusal to acknowledge, admit or feel bad about your off-topic shit coin pumping behavior. 

Dear JayJuanGee, you honestly believe there is no alternative to BTC and calling me? WOW!

What the fuck you talking about?  Is monero pumping a subject of this thread?

[ThePunisher49X]

(snip)

Venezuela would have fast and cheap international money transfers independent from the Central Bank. If the people in Venezuela start using Petro in theirs everyday activities, it would be a big victory for whole crypto world. I'm kinda confident that they will use it since many of them depend on help sent from friends and relatives living in other countries and Petro would be cheapest and fastest way to do that, also they are prolly one of the top crypto-educated nations atm.
If I was a bankster I would be very worried now because if that works out fine for Venezuela then some other countries would follow as well

Right, but I can already hear the choir of bankster FUD.

"See what they got to? That country began going to the dogs the day they revoked concessions to the big corporations, and it was downhill from there. Now they even lost control of their own money. It's going to be a hemorrhage, I tell you. See that we never get to that!"

The moment it is evident your word is worth NOTHING no one will ever trust you anymore. The moment Venezuela started expropiating corporates and revoking concessions no one would invest any single penny on it. That's not a case of bankster FUD, it's just reality... would you invest in Venezuela?

Petro will go NOWHERE. Remember it is not exactly a decentralised crypto... it is controlled by the Venezuelan government. So much for trust, uh?

Unfortunately Venezuelan people as well as all other people in the world are obliged to use theirs official national currencies in their everyday life, of course its not decentralized nor it has any tech innovation, but at least they will be able to use CRYPTO for theirs everyday activities, millions will be paying bills and buying stuff with Petro since getting cash in fiat money there is really pain in the ... loses value between the time you earn some money and spend it, real problem of everyday life there that could be solved if Petro survives the bankers intervention which will surely come in all kinds of FUD and even the military intervention is not excluded if Petro becomes a danger for them...

I don't agree with what this petro coin stands for but when it comes to crypto this president will get his people to obtain the only way they can. That would be with having to purchase it with bitcoin (or ether) and with a lot of buying up of bitcoin all at once will drive up the price as well. It will be at a cost of being a political sabotage of this Central America country.
But the bulls won't care where the money that's coming into crypto is from.

Courtesy of last of the v8s.

[Wekkel]

Nice pump. If the sheep follow up, we may make it to $6,700. But it all looks very tired now.

[starmman]

Nice pump. If the sheep follow up, we may make it to $6,700. But it all looks very tired now.

could do with breaking out of this cycle - things are looking a little stale lately

[HairyMaclairy]

Fear rising sharpish

[micgoossens]

via Imgflip GIF Maker

[Last of the V8s]

https://twitter.com/bitfinex/status/1047758525655666688
@bitfinex
3m3 minutes ago

Planned infrastructure maintenance will commence 30 minutes from now, at 8.30 UTC, and is expected to last 2 hours.

Please monitor Twitter and http://bitfinex.statuspage.io  for precise updates.


edit/add
@BitcoinErrorLog
7m7 minutes ago

John Carvalho Retweeted Bitfinex

Commence fuckery!

[kurious]

Finex has been climbing higher than Stamp for a couple of weeks.  Reminds me of Gox - people buying BTC to get out.

It's a $50 dollar gap now..

[bitserve]

Finex has been climbing higher than Stamp for a couple of weeks.  Reminds me of Gox - people buying BTC to get out.

It's a $50 dollar gap now..

Except that is a less than 1% gap.... IIRC gox gap was around 10 to 20% or so.

But yes, even that small gap is something pretty unusual lately.

[HairyMaclairy]

A gap opens every time there is Tether FUD.

[micgoossens]

There is almost no scenario in which the price would go straight up, for example to a new ATH within a day or even within a week.  I'm not even sure whether an ETF approval would cause that, or some kind of news that some country has made bitcoin it's official currency.  Perhaps, but I have real doubts about such sudden exponential movement without any correction.

On the other hand, it is not likely, but we could get 100% or 200% within a week.. or we could get a kind of gradual UP and then, BAM, a sudden 100% to 200% UP within a week.  Is that what you mean by one of these days, moon?

Is moon past the previous ATH or is it some other number?

Where is "moon" exactly?

if ((amount of btc * btc price) > target net worth) then MOON

O.k.  Fair enough that moon is a number that would be somewhat individually tailored  - and sometimes, members might need to disclose where that point is for themselves, and sometimes just thinking about "where is moon" can be a psychological well-being point.

Part of the reason that I frequently express so much content, even though we are still bouncing around in a 66.6666% correction arena, is that I had considered $3k to $5k to have been the top of the 2017-2018-ish bubble - meaning the next bubble that was coming after the 2013 ATH of $1,163.  Accordingly, thereafter I had expected the top to have been in the $3-$5k range and then a correction into the $1k to $3k range.  Therefore, it seems to me that there is still a lot of icing on this particular cake, and it kind of already seems, to me, that a variation of moon has already arrived.

All of what I am saying does not mean that I am bearish or that there is froth  in this market, but a peak that goes to $19,666 remains in the approximately 5x area higher than expected and the correction back to $6k-ish remains in an area of about 5x higher than expected - and even with all of that 5x higher than expected, there seems to be plenty of upside potential, still.... because bitcoin continues to be in a very low adoption level - even with a lot of peeps coming into bitcoin, the numbers still remain trickles in comparison to the world population and in comparison to what is possible based on the ongoing good news in bitcoin, in terms of developments and the seeming solidity of the tech (and computing power for that matter - including bitcoin's continued winning of various infighting).

Sure there remains a question about whether alts are coming with on the next journey up, and so that could be the $1,000,000 question about how long any kind of continued correction goes on further or just drags out longer.... let's see, let's see... So even if we are at a kind of moon..., "When next moon?" might be more poignant of a question, perhaps?

As much as I want it to be different, a new moon will take a lot of time to materialise. The grind up to 20k will be long and hard, with tons of resistance levels established by previous run-up. Once we pass 20k, price discovery starts again and we are in uncharted waters.
Right JJG, I share your sentiment about btc adoption and also did not expect previous top to be this much of an overshoot. I'd caution everyone to be rather conservative in setting any sort of timeline for a next run, my experience has learned me this is always further away than one expects, especially after such a massive year for crypto that we had.
Still BTC and perhaps some other alts are terrific buys at this level from a long term perspective thats why I am hodling and accumulating, just as all you smart and fine gents in this thread 

Whoaza!!!!!  I consider myself to be fairly conservative in terms of both my BTC predictions and my expectations, but in some respects, your above post is coming off as a tad bit more bearish than me, at least in terms of BTC's shorter term dynamics, what is at play in the short term, and the timeline for any possible explosive UPWARDS movements.

Let me attempt to explain, and attempt to clarify which might seem to be internal contradictory comments from me.  I would also like to modify some of my retrospective views (somewhat based on hindsight is 20/20 rather than being caught within the moment in which thinking/vision is more muddied).  In other words, I am kind of modifying my statement of what my then (2017) expectations were to have likely been a bit more bullish than what I have subsequently characterized them to be.

First, certainly, I am asserting that BTC's about mid-November 2017 to mid-December 2017, BTC's price performance was much beyond the greatest of expectations that I had, and even though I had anticipated the most reasonable upside to be in the $3k to $5k price territory, I was willing to accept that prices could spike up to $8k or so.  Accordingly, in mid-November, when BTC prices went above and beyond $8k, we seemed to have gotten into a kind of "beyond the wildest dreams" price territory. 

So, yeah, you know (like man), we went about 2.5x beyond $8k, so that was a quite stupendous set of scenarios that seemed to have allowed for that to happen - maybe even an alignment of various happenings, market resolutions and momentum.    Even saying all of that, and based on both BTC fundamentals and the price foundation that allowed BTC to rise over more than 2 years in order to be ready for the exponential upwards price run, I am still of an ongoing tentative conclusion that $19,666 was not sufficient to constitute a blow off top.   Therefore, I remain tentatively unconvinced that this current price run up can be categorized as "over" or that the now more than 9 month price correction and even largely bouncing back and forth in the sub $10k price territory and even in the lower $6k arena, constitutes anything more than an extremely long and large BTC price correction in the midst of an upwards price run.

In other words, after having said all of that, I am not of the conclusion that we can have any kind of confidence that either BTC prices are going down from here or that the road past $20k is going to be a long and drawn out battle.  Sure it seems feasible to shake out a few more hands, if that is possible, and I have no doubt that BIG players will attempt to shake, if they can, and if that seems to be the path of least resistance. 

So, chartalists and fractalists and other folks attempting to overlay 2014/15 patterns over bitcoin or some other similarly bearish pattern in order to suggest that from our current position they can see either what has to happen or what is more probable to happen being either down or a drawn out flat BTC price period, are likely going down a road too far in their assertion of what has to happen or what they consider to be most likely, from my humble bumble perspective.

JJG, I am obviously hoping for a scenario a bit more like 2013, with an april top followed by new ath later in the year. I doubt this will happen in the short term, invalidating that pattern. In any case, dont think looking at the past is too relevant here. I dont really agree with your wording of ‘correction’, its ok to say btc has crashed since ath, a 70% drop is just that, a crash. Especially since it is accompanied by the  complete bloodbath that is the alt-markets.
One scenario where bitcoin could go lower (and take alts with them) is if miners make a play to push price down to bankrupt less efficient miners, allowing them higher market share in the future as inefficient mining ventures go broke.
Still, I hope 6k is the bottom (but then we saw the bottom 6 months ago, only 3 months after ath! 🤔 )

[bitserve]

JJG, I am obviously hoping for a scenario a bit more like 2013, with an april top followed by new ath later in the year. I doubt this will happen in the short term, invalidating that pattern. In any case, dont think looking at the past is too relevant here. I dont really agree with your wording of ‘correction’, its ok to say btc has crashed since ath, a 70% drop is just that, a crash. Especially since it is accompanied by the  complete bloodbath that is the alt-markets.
One scenario where bitcoin could go lower (and take alts with them) is if miners make a play to push price down to bankrupt less efficient miners, allowing them higher market share in the future as inefficient mining ventures go broke.
Still, I hope 6k is the bottom (but then we saw the bottom 6 months ago, only 3 months after ath! 🤔 )

Who are you and what have you done to our friend??

[micgoossens]

JJG, I am obviously hoping for a scenario a bit more like 2013, with an april top followed by new ath later in the year. I doubt this will happen in the short term, invalidating that pattern. In any case, dont think looking at the past is too relevant here. I dont really agree with your wording of ‘correction’, its ok to say btc has crashed since ath, a 70% drop is just that, a crash. Especially since it is accompanied by the  complete bloodbath that is the alt-markets.
One scenario where bitcoin could go lower (and take alts with them) is if miners make a play to push price down to bankrupt less efficient miners, allowing them higher market share in the future as inefficient mining ventures go broke.
Still, I hope 6k is the bottom (but then we saw the bottom 6 months ago, only 3 months after ath!  )

Who are you and what have you done to our friend??

haha lol, no this is my best coiner friend (BECAUSE OF HIM I AM INTO BTC) helping me out from time to time.... little bit the guy that i'm following mostly and the friend i talk with about crypto about every day, and sometimes when i wanna say something its easy to explain myself better in english writing when he helps me out , i have a serious side as well  , now his a little bit on my side when i wanna say something that requires better english ( otherwise i would make to much mistakes ) BUT i promise i am learning better and better so in the near/foreseeable future i will MASTER english writing myself haha LOL

and is it so obvious i got a little help in my writings                

[micgoossens]

^^

good to know i have friends down here