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

[LFC_Bitcoin]

Me in 6 months

[Wekkel]

10 yrs ahead of us: “Buckle in. Cryptocurrencies Could Take Ten Years to Prove Themselves.” by Patrick Tan https://link.medium.com/kGLg67T77R

[bitserve]

I am starting to think that the whales are probably even more scared than we are. Maybe no one is going to save us this time. At least not yet.

[somac.]

Hmmm I thought we were done at $3600.  

Next support is $2,900 to $3,000.  Should be heavily defended.  

If this doesn't bounce, were basically screwed and all crypto with it

Yeah this is pretty shocking, I thought after seeing 2014/15 that nothing could get that bad. but, this drop is the worst I can remember purely because of the lack of buying volume. not 1 damn decent bounce yet. I don't know what to make of it, but its not good.

I am starting to think that the whales are probably even more scared than we are. Maybe no one is going to save us this time. At least not yet.

Yeah I've never seen it like this before.

[marcus_of_augustus]

... it's gonna get bad, the lunatics are in charge of the asylum now.

[HairyMaclairy]

Hmmm I thought we were done at $3600.  

Next support is $2,900 to $3,000.  Should be heavily defended.  

If this doesn't bounce, were basically screwed and all crypto with it

We still have $1166 which is the previous ATH.  Things might get a bit awkward after that.  Also a life changing opportunity.  Just dollar cost average in over the course of 2019.  Don't buy in a single go. 

[maser82]

Hmmm I thought we were done at $3600.  

Next support is $2,900 to $3,000.  Should be heavily defended.  

If this doesn't bounce, were basically screwed and all crypto with it

Yeah this is pretty shocking, I thought after seeing 2014/15 that nothing could get that bad. but, this drop is the worst I can remember purely because of the lack of buying volume. not 1 damn decent bounce yet. I don't know what to make of it, but its not good.

I am starting to think that the whales are probably even more scared than we are. Maybe no one is going to save us this time. At least not yet.

Yeah I've never seen it like this before.

I think most of the people are waiting for the right moment to buy their hats

[somac.]

which exchanges have troll boxes these days? I wouldn't mind checking out the comments to gauge the panic

[dutchlincoln]

Well, i hope that these prices not only shake weak hands, but cause a large drop in difficulty as well, making mining not even more profitable, but more BTC for my hash... What most of you guys are doing with Fiat, i'm doing with mining... I have a cheap location with power included, so the more it goed down and miners quit, the more miners i buy cheap and install..  
Maybe halfway 2019 bullrun can start if you ask me...  

[TeeBone]

Im buying like a Mofo at 3K, even if it aint the bottom it will be defended bigtime and is a good short term trade.

[somac.]

Well, i hope that these prices not only shake weak hands, but cause a large drop in difficulty as well, making mining not even more profitable, but more BTC for my hash... What most of you guys are doing with Fiat, i'm doing with mining... I have a cheap location with power included, so the more it goed down and miners quit, the more miners i buy cheap and install..  
Maybe halfway 2019 bullrun can start if you ask me...  

Thanks for the comment, good to hear from a miner. Do you have any idea of what breakevens would be? not just for you but for others

[HairyMaclairy]

[colombuszka]

Well holy crap, with this rate we will be sub 3k tomorrow lol.

But regarding to a previous post, this whole situation is just a part of the full market cycle.  Just need to be patient to see some greens again.

[Raja_MBZ]

which exchanges have troll boxes these days? I wouldn't mind checking out the comments to gauge the panic

BitMEX's Trollbox can help you with that.

[dutchlincoln]

Well, i hope that these prices not only shake weak hands, but cause a large drop in difficulty as well, making mining not even more profitable, but more BTC for my hash... What most of you guys are doing with Fiat, i'm doing with mining... I have a cheap location with power included, so the more it goed down and miners quit, the more miners i buy cheap and install..  
Maybe halfway 2019 bullrun can start if you ask me...  

Thanks for the comment, good to hear from a miner. Do you have any idea of what breakevens would be? not just for you but for others

well, with these prices falling faster as a rock, i would have to calculate it every hour.
But if you ask me, we're already past the point that's making mining even profitable...

I have my gear paid for, so thats already written off and paid by itself, and my location is not free, but its quite cheap. At this moment i need 4-5 miners running for its cost. each month. So, if price halves from now, i need 8-10. Still profitable (for me) So i have a large breath to go... All the extra mined BTC i put into my stash and hope for recovery.
The more miners quit, the faster my stash grows....  

[becoin]

Current price level is a lifetime opportunity that should not be missed!

Lifetime opportunity is also what they said at 8500 and 6500. Good luck catching this dagger!

I've caught the dagger at $4 falling from $32.
Then I've caught the dagger at $50 falling from $260.
Then I've caught the dagger at $190 falling from $1100.
Now I've caught the dagger at $3500 falling from $19000!

[Last of the V8s]

2 or 3 more blips like this over the next 8-12 years and we'll be the master race.

[marcus_of_augustus]

... if 10k doesn't hold we'll probably go back and test 5k support ... or maybe lower like 2500 area needs some backing and filling also

it'll be cathartic if we dive that low ... like a whale diving to get rid of all the parasites ... btc has sure built up it's fair share of those during this last run ... alts, ICOS, "blockchain" charlatans and straight out conartists are everywhere

.... i'm not saying I told yous so but it was always an option.

just quietly, I'd be mobilising the full spectrum of assets if BTC starts sniffing 2500, expecting 50x-100x from those levels.

[Arriemoller]

Just bought a little, first time in many years. I feel like when I was new to this and did my first buy.

This is going down more, but at this price no one can mine with profit, so with all rigs turned of supply stops, and provided that demand continues to rise slowly like it has done in the past, the price will slowly recover, just like it did the last time this happened. And it will end with a positive spiral that will peak at an insane price and then turn in to a negative spiral and once again crash the price. And then we repeat.

[somac.]

Well, i hope that these prices not only shake weak hands, but cause a large drop in difficulty as well, making mining not even more profitable, but more BTC for my hash... What most of you guys are doing with Fiat, i'm doing with mining... I have a cheap location with power included, so the more it goed down and miners quit, the more miners i buy cheap and install..  
Maybe halfway 2019 bullrun can start if you ask me...  

Thanks for the comment, good to hear from a miner. Do you have any idea of what breakevens would be? not just for you but for others

well, with these prices falling faster as a rock, i would have to calculate it every hour.
But if you ask me, we're already past the point that's making mining even profitable...

I have my gear paid for, so thats already written off and paid by itself, and my location is not free, but its quite cheap. At this moment i need 4-5 miners running for its cost. each month. So, if price halves from now, i need 8-10. Still profitable (for me) So i have a large breath to go... All the extra mined BTC i put into my stash and hope for recovery.
The more miners quit, the faster my stash grows....  

Thank you again, great info there. I'm hoping that things go well for you and some miners quit.