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

[mOgliE]

If there had been significant upward pressure, then we wouldn't have been stuck at ~$6.5k for so long. I predict that ~$5.5k will be "the new $6.5k" for a while, maintaining relative stability with periodic bouncing.

I suspect that we're on a long-term slow downward trend until either the next halving or until something major happens (eg. ETFs, maybe certain global events, etc.).

This is right what I'm thinking currently.

From a very basic and practical point of view:
-Adoption rate have been nothing but dropping in last year
-Usecases of btc aren't coming up. The only thing btc is still really used for is money laundring and illegal purchases
-We're at the end of a hype cycle

So there is no reason for the trend to be anything but down for months and probably years.

We need to wait for a new wave of adoption and projects, the machine is stopping right now. Next halving can be the savior but only if it peeks the interest of people with a good big FOMO.

[LFC_Bitcoin]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

Seriously though, if true that’s pretty depressing. How are we supposed to deal with that?

 

[El duderino_]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

Seriously though, if true that’s pretty depressing. How are we supposed to deal with that?

 

No selling mate.... no certainties what so ever just thoughts.
Its no spot on thing a 2-4 year downtrend....

[Elwar]

My gf sells on localbitcoins.

The past couple of days she's had some big sales requested.

I told her to ignore them.



Not taking the chance of the price shooting back up right after she's done a sale.

[Astargath]

If there had been significant upward pressure, then we wouldn't have been stuck at ~$6.5k for so long. I predict that ~$5.5k will be "the new $6.5k" for a while, maintaining relative stability with periodic bouncing.

I suspect that we're on a long-term slow downward trend until either the next halving or until something major happens (eg. ETFs, maybe certain global events, etc.).

Unless some major event happens like you said, this is exactly going to happen like it happened in 2014-2017. That means even under $3k is a possibility now.

Maybe BAKKT can reverse the bearish trend but I don't raise my hopes too high.

See you all in 2022   It will be a pure vomitfest from now on. 3 maybe 4 painful diskusting years are ahead.

Missed the Gox bubble, missed the tether bubble too. Fuck my life. >:-(

I don't agree with that whatsoever. What major event happened in 2017? There were in fact a lot of bad news at the time and the price continued to grow.

[d_eddie]

Theymos's analysis makes lots of sense, but the corn is a proven dealer of surprises. Wait and see, I guess.

[mOgliE]

My gf sells on localbitcoins.

The past couple of days she's had some big sales requested.

I told her to ignore them.



Not taking the chance of the price shooting back up right after she's done a sale.

Yeah selling right now doesn't make much sens unless you need cash.

I don't believe for one second that price will rise back on 8k or 10k before at least months and probably years, but selling  now is a risky move. Price can still stabilize back to 6.5k whenever happens...

[jojo69]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

Seriously though, if true that’s pretty depressing. How are we supposed to deal with that?

 

same as always

[LFC_Bitcoin]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

Seriously though, if true that’s pretty depressing. How are we supposed to deal with that?

 

No selling mate.... no certainties what so ever just thoughts.
Its no spot on thing a 2-4 year downtrend....

I hope not!
I mean I remember seeing people predicting ‘double digits’ when we were on the way down from the Gox high.
That didn’t happen did it?

I think I’ll hang myself (joking) if at one point I was very nearly a millionaire with my stash of bitcoin (but didn’t sell) only for the price to then go all the way down to $2,000 per coin or something

[realr0ach]

Don't sell anything.  I want as many shoeshine boys as possible ready to dump the second the scammers operating BitFinex attempt to pump it by fraud, tether scams, and whatever they attempt next.

[fluidjax]

This shitshow has given us a new opportunity to correctly name the forks.
Previously, we have been unable to drop the Bitcoin part of their names, because it simply left 'cash' which is of course ambiguous.

I guess its obvious but, we can now correctly relegate them to the proper Altcoin categorisation by using:

ABC Cash
SV Cash

[jojo69]

This shitshow has given us a new opportunity to correctly name the forks.
Previously, we have been unable to drop the Bitcoin part of their names, because it simply left 'cash' which is of course ambiguous.

I guess its obvious but, we can now correctly relegate them to the proper Altcoin categorisation by using:

ABC Cash
SV Cash

or we could just, you know, never speak of them again?

[cAPSLOCK]

I was thinking...

Bitcoin Cash...  Roger's version (vision?):

Bitcoin ABC

BABC

BAB(y) C

Baby Cash?

They *are* dying after all...

[El duderino_]

I was thinking...

Bitcoin Cash...  Roger's version (vision?):

Bitcoin ABC

BABC

BAB(y) C

Baby Cash?

They *are* dying after all...

they are just trying to create a BTC-unicorn ..... that thing that everybody wants in every single thing (the most unique and best thing ever) but they will not FORK that out of BTC
BTC=and will be the closest thing to that unicorn vision my guess

but dreamers can dream of there magical creatures, let them and let them stay away of BTC

[theymos]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

If you don't think that an ETF or similar big boosting event is likely in the next ~year, then that might end up paying off, but personally I wouldn't sell large amounts now. First of all, it'll probably at least touch $6k in the near future. Second, you don't know when an ETF will be approved or the next 2008-style financial crisis will happen, both of which could truly put BTC through the roof. (Insider trading will probably put BTC to $10k+ some time before an ETF is actually approved.) Third, while cryptocurrency will probably not take over the world anytime soon, it's a very real and growing niche which isn't ever going away, and I see no serious competitors to BTC for king of the cryptocurrency space.

It all depends on your risk tolerance and time horizon, though. If there's any BTC price that would ruin you, then it might be a good idea to sell some.

[cAPSLOCK]

If there had been significant upward pressure, then we wouldn't have been stuck at ~$6.5k for so long. I predict that ~$5.5k will be "the new $6.5k" for a while, maintaining relative stability with periodic bouncing.

I suspect that we're on a long-term slow downward trend until either the next halving or until something major happens (eg. ETFs, maybe certain global events, etc.).

This has been basically the way my thoughts on price have been ending up on this.  

But there is this other thought that comes at the end of that train...

How cheap is the market going to allow BTC to be?  The potential upside is so unknown, and possibly large that at a certain point the buyers have to come back.  How low can it go before those with big money who have come to truly understand what Bitcoin is are not buying on the open market?

And following that point... How much of the "retail" market is depressed by the OTC market, which I suspect has grown exponentially over the last 1-2 years.  In fact big buyers on the OTC market have an incentive to depress the visible retail markets as much as possible.

SO many levels... what a time to be alive!

[El duderino_]

would be nice to freeze me in on my AGE as i am now and just release me @2021-ish at my AGE of now and just see where i'm standing .....
wouldn't that be a nice move

[LFC_Bitcoin]

So the general consensus is we’re going to continue to drop for years?

Well fuck me, we might as well sell everything now then?

If you don't think that an ETF or similar big boosting event is likely in the next ~year, then that might end up paying off, but personally I wouldn't sell large amounts now. First of all, it'll probably at least touch $6k in the near future. Second, you don't know when an ETF will be approved or the next 2008-style financial crisis will happen, both of which could truly put BTC through the roof. (Insider trading will probably put BTC to $10k+ some time before an ETF is actually approved.) Third, while cryptocurrency will probably not take over the world anytime soon, it's a very real and growing niche which isn't ever going away, and I see no serious competitors to BTC for king of the cryptocurrency space.

It all depends on your risk tolerance and time horizon, though. If there's any BTC price that would ruin you, then it might be a good idea to sell some.

I can wait until 2021 before I’ll start & I mean really start wanting to see results.

[kenzawak]

Not sure if this has been posted before :

Ohio Congressman and cryptocurrency advocate Warren Davidson is to go ahead with his plans to introduce a bill which will effectively eliminate the SEC’s jurisdiction over the industry.

https://bitcoinnews.com/ohio-congressman-tells-sec-hands-off-crypto/

[jojo69]

Rastani throws in the towel, capitulation begins

https://www.youtube.com/watch?v=fRCYQz6EAAY