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Question: Closing BTC Price June 28:
$0 - 4 (2.9%)
<$7,000 - 4 (2.9%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.7%)
$8,500-$8,999 - 3 (2.2%)
$9,000-$9,499 - 4 (2.9%)
$9,500-$9,999 - 26 (18.8%)
$10,000-$10,499 - 23 (16.7%)
$10,500-10,999 - 12 (8.7%)
$11,000-$11,499 - 11 (8%)
$11,500-$12,000 - 9 (6.5%)
>$12,000 - 30 (21.7%)
>$20,000 - 11 (8%)
Total Voters: 138

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21239818 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (66 posts by 16 users deleted.)
micgoossens
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December 13, 2018, 04:51:34 PM

HODL ETP Performance

Few will remember the Swiss Crypto ETP that was launched 3 weeks ago as this is the equivalent of 3 decades in cryptocurrency time. The launch of this ETP brought with it much hope and anticipation. This was the Swiss version of the much awaited Vaneck-SolidX BTC ETF that the community believes will bring the cryptomarket out of its current slump. An ETP is an exchange traded product, very similar to and ETF.

The Swiss cryptocurrency ETP was launched on November 22 by Amun Group on the SIX Exchange under the appropriately named ticker HODL. Traders in Switzerland have taken the ticker quite literally as there has been a few days of significant buying activity and seldom amounts of selling activity, indicating that there is actually HODLING going on. Or at the very least accumulation.
The gravity and pull of the HODL ETP is quite small compared with what is expected from the Vaneck-SolidX ETF but it is not completely insignificant. It gives us an early insight as to how the market might possibly react to a new method available to them to trade cryptocurrency.

While the performance of the HODL ETP has and obviously will mirror the price of the cryptocurrencies that it is comprised of, it has had a surprising level of volume in what could only be described as a  grizzly bear market. However, this sort of product will not be the silver bullet to end this bull market and neither will the Vaneck-SolidX ETF. If this bear market has taught us anything it is that there is a demand for fundamental value, actual use cases and realistic market prices. We are not there yet and an ETF won’t lead us to that point. While it will inherently increase the demand for $BTC as it will be necessary for physically settled contracts, there is the assumption that there are hoards of institutions who want $BTC but are not able to get it. This is simply not the case. While this sort of infrastructural development could have been a significant enough event to drive triple digit positive price action in the market of one year ago, it is not enough of a reason to drive that sort of price action in the market we are currently in today.

The ETF will get approved, eventually, but we are constrained by the SEC’s timeline. It would not be unreasonable to expect a decision two years from now and quite frankly that would be a better outcome for cryptocurrency as a whole. Timing is everything. It would be a foolish and pointless exercise to launch this ETF during a bear market when there is seemingly no interest in cryptocurrency. The launch of this ETF needs to be driven be some initial momentum otherwise it will fizzle out and be forgotten.

someone just sended me this any thoughts?
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December 13, 2018, 04:53:45 PM

Do you guys like capitulations that were being masked/sold as something else?

'Cause that what you got.

But you are right, I am being emotional. Even though what I am saying makss Sense, because BTC can still fall to 1900 (your 90% down). We are not there yet.

After Bitcoin bottomed in 2015 to something like $190, you should have heard all the people coming out of the woodwork saying "can still fall to $100" and "we are not there yet". Never happened.

I remember lots of people predicting double digits in those times & it obviously didn’t happen.

I’d say it’s similar to predicting low $1,000’s now.
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December 13, 2018, 04:54:03 PM

I just made some gif for fun  Wink

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December 13, 2018, 04:55:03 PM

That's a very short bear you have there.

well, 2015 was a flat for almost 8mo (after Jan plunge).
I don't mind us transitioning to such a flat right here.
Re 500K, I just don't know.
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December 13, 2018, 04:55:53 PM

Boerse Stuttgart Group will launch a crypto trading platform in 2019.

https://www.coindesk.com/major-german-stock-exchange-to-launch-crypto-trading-platform
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December 13, 2018, 05:10:01 PM

Quote
He said, “You should outlaw [crypto assets],” because many have lost savings due to the significant slump in the crypto markets. “I am personally surprised that regulators haven’t stepped in harder.”
Allianz Investors Chief.

Yeah, ban things because people are being stupid. Good bye cars, internet, food, water, life.
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December 13, 2018, 05:17:04 PM
Merited by ivomm (1)

The only way we are going to 1k is if we break through 2.7k And I do not see that happening. The last slide was motivated by the BCH fork. Always keep your eyes out for the bad/good news. Otherwise Bitcoin stays where it is.
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December 13, 2018, 05:17:50 PM

Chosing a bottom is never an easy task


They all need to be tested


I can do all the testing!
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December 13, 2018, 05:20:33 PM

Quote
He said, “You should outlaw [crypto assets],” because many have lost savings due to the significant slump in the crypto markets. “I am personally surprised that regulators haven’t stepped in harder.”
Allianz Investors Chief.

Yeah, ban things because people are being stupid. Good bye cars, internet, food, water, life.

No, no no, you miss the point...
On cars, internet, food and water, the government can sucker you with taxes; the money goes to them.

With crypto, they are just poor and not taxable, so they have to regulate it or they wont be able to get your money anymore...

 Wink
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December 13, 2018, 05:36:16 PM

I just made some gif for fun  Wink



Who is that?

Craig Wright in about 12 months time when he realises he’s broke & has to suck dick on the Vegas strip to make rent?
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December 13, 2018, 05:37:35 PM

Quote
He said, “You should outlaw [crypto assets],” because many have lost savings due to the significant slump in the crypto markets. “I am personally surprised that regulators haven’t stepped in harder.”
Allianz Investors Chief.

Yeah, ban things because people are being stupid. Good bye cars, internet, food, water, life.

And yet penny stocks are allowed to live on decade after decade, scamming people with PnD's every day.  Roll Eyes

What's with people like that making such asinine statements?
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December 13, 2018, 05:40:44 PM

I was too stupid to sell when BTC went parabolic. I'm sure as hell too stupid to sell now. That's why I:




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December 13, 2018, 05:45:02 PM

https://bgr.com/2018/12/11/galaxy-s10-features-cold-wallet-for-bitcoin-and-crypto-in-the-works/

Galaxy S10 might ship with a secure cold crypto wallet for storing Bitcoin
How secure can it be when I throw my phone around all the time? Still haven't managed to break any of my Samsung phones (surprisingly), but if I had crypto on it I'd either get really stressed out or have to change my behaviour.

i'm never gonna store it on a phone... also i'm an iphone user Roll Eyes
but its good for samsung to work with crypto etc

Me neither that is for sure, but I am a nerd who likes to sign his transactions on a braindead laptop.

A whole lot better for the masses though that would otherwise be 'storing' them on an exchange. But let's first wait for more details to come out before starting to celebrate.
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December 13, 2018, 05:47:21 PM
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WO is present everywhere

This morning in a service area on the road having a coffee, is it an upward signal !!!

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December 13, 2018, 05:47:22 PM

I was too stupid to sell when BTC went parabolic. I'm sure as hell too stupid to sell now. That's why I:






+1

The thing is this ship isn’t going down. It’s going to steady itsslf in 2019 & then get fitted with rocket fuel & wings before flying to the fucking moon.
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December 13, 2018, 05:49:38 PM

All this considerations about selling now will be much more useful and reasonable to have during next bull run. Someone please remember me to sell some then.
micgoossens
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December 13, 2018, 05:52:43 PM

All this considerations about selling now will be much more useful and reasonable to have during next bull run. Someone please remember me to sell some then.


haha i will remind you, but don't sell to much of your stash

its important not to get burned when there is panic, panicselling

but also don't burn yourself with selling to fast when we are in a BULLrun....
bitserve
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December 13, 2018, 06:00:53 PM

All this considerations about selling now will be much more useful and reasonable to have during next bull run. Someone please remember me to sell some then.


haha i will remind you, but don't sell to much of your stash

its important not to get burned when there is panic, panicselling

but also don't burn yourself with selling to fast when we are in a BULLrun....

Nah, I am sure I won't sell MUCH. Just enough to don't feel (100%) stupid during the next bear market. 90% stupid would be fine.

Selling now is pointless for me, except from a trading point of view that I just don't see clear at all.
micgoossens
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December 13, 2018, 06:01:33 PM

All this considerations about selling now will be much more useful and reasonable to have during next bull run. Someone please remember me to sell some then.


haha i will remind you, but don't sell to much of your stash

its important not to get burned when there is panic, panicselling

but also don't burn yourself with selling to fast when we are in a BULLrun....

Nah, I am sure I won't sell MUCH. Just enough to don't feel stupid during the next bear market.

Selling now is pointless for me, except from a trading point of view that I just don't see clear at all.


mmmmm those moments
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December 13, 2018, 06:02:40 PM

The first time I post here, look forward to comments from everyone.Thank you everyone for watching!

This is a bad first post, and you should feel bad for making it.

-1 WOsMerit

Bob...you have obviously been slacking on your training regimen. Must Rick be notified?


There is an excellent article which I read which explains why odds are stacked against shorts in the long run.  Shorting is always a short term play.  I am going to try to find it. 

hope you can find it, like to read it Smiley


 Roll Eyes

I think that you're being emotional and shouldn't invest at all if you can't handle massive red candles. Selling now is like buying at >15k. Now is not the time to sell, but to keep cost averaging in.

There is no guarantee that bitcoin will really bounce back one day . I believe it will, but I am totally unqualified.

Putting more money is foolish, if you already put all the money you have reserved for high risk assets.

In past it bounced from much lower marketcap, much lower media attention, much lower infrastructure (exchanges, media, wallets, ATMs, stores that accept etc).

It's not certain that it will ever reach 10k again. I believe it will, as everyone here. But how much are you willing to bet that it will? That's he point.
If you already put all that money in that's on you for not keeping enough powder dry. But regardless of how much fiat you have available, selling after a ~90% drop is anything but sensible, especially when that's roughly been the turning point for most assets that plunged and didn't die. Market cap is irrelevant too by the way, at least in the peanut amounts that we are at right now. Apple is still 10x the size of Bitcoin. And that's just one company. Bitcoin is well positioned to become the backbone of future finance.

Just as you said that buying at 15k is stupid, in future selling at 3500 could be a great deal. What is it goes to 1500.? That's a 100 gain if I buy back.
The point is that we're already down 90% and the probability of going down further decreases exponentially as we go down. You're just falling victim to the gambler's fallacy right now.


Edit: What if it goes down to $1? It was $1 before, I could sell one Bitcoin and make 3500 Bitcoins! (fat chance)

Edit2: Invest some money in a book on investing and balancing portfolios. Read it, study it. Everything you post cements the fact that you're just gambling based on emotions. Emotions that traders use to take your money and make profits.

The point is that we're already down 90% and the probability of going down further decreases exponentially as we go down. You're just falling victim to the gambler's fallacy right now.

Agreed. It's an absolute classic noob move but it's also 100% understandable. It's how regular human minds work.

Unfortunately the people you're trading against know this and do not have regular human minds. 

Absolutely!
I could sell everything now & I’d still be massively up on what I originally invested. The thing is though, you just know if I do that the price will go to $6,000 or $7,000 & I’d end up buying back half the amount I currently own which would be fucking retarded.


This. If you want to sell you do it on the way up, not on the way down.

Ahhhhhhhh

Thank you millionaire, gentlemad and lfcbitcoin

I will hold this shit until it goes up. You are right.

Thanks

+10 WOsMerit's
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