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

[VB1001]

Fiat Currencies on ‘Cliff of Death’ While Recessionary Pressures Grow

A recent tweet from Raoul Pal of Global Macro Investor highlighted weaknesses in several major world currencies:

When the long-term charts all start pointing to a single event risk, I pay attention. When those charts are at the KEY level, I focus. And when they break, it is time for action… Something really BIG is going on…

And one currency, after another, is approaching, and then falling off, the CLIFF of DEATH…



Ultimately, these negative trends in fiat currencies have unfolded as bitcoin valuations have rallied. All of these recessionary warning signs suggest a paradigm shift into cryptos might be unfolding right before our eyes.

https://bitcoinist.com/fiat-currencies-on-cliff-of-death-while-recessionary-pressures-grow/

[sirazimuth]

via Imgflip Meme Generator

At 1st glance, wasn't sure if there was a bitcoin bottom meme/joke in there somewhere.
You know, like "the bottom is in...

...that poor kid's face"

[fillippone]

This is big.

Blockstream Reveals Massive Bitcoin Mining Facilities, Fidelity An Early Customer

Kyle Torpey at least knows how to edit.

Yeah, I dunno. What do the last three paragraphs have to do with Blockstream having large mining power?

I think it's a PR stunt for BetterHash.
I think the rhetoric here is: you mine, you profit but also you can decide not to follow the Chinese pools in taking directions you don't like.
 You can mine the transactions you want.
Here a brief description of what bettterHAsh is:
BetterHash Protocol Lets Pool Miners Regain Control Over Their Hash Power

[jbreher]

This is big.

Blockstream Reveals Massive Bitcoin Mining Facilities, Fidelity An Early Customer

Kyle Torpey at least knows how to edit.

Yeah, I dunno. What do the last three paragraphs have to do with Blockstream having large mining power?

I think it's a PR stunt for BetterHash.
I think the rhetoric here is: you mine, you profit but also you can decide not to follow the Chinese pools in taking directions you don't like.
 You can mine the transactions you want.
Here a brief description of what bettterHAsh is:
BetterHash Protocol Lets Pool Miners Regain Control Over Their Hash Power

Again, I fail to see what the last three paragraphs have to do with Blockstream having large mining power. Reproduced below:

Even with these concerns around Bitcoin mining centralization, some U.S. lawmakers are convinced they would not be able to ban Bitcoin.

On the other hand, Facebook’s Libra cryptocurrency project would be much easier to manipulate, regulate, and control. That said, multiple members of the Bitcoin industry have pointed out the roundabout ways Bitcoin could benefit Facebook’s Libra.

That said, even if improvements are made to the decentralization and censorship resistance of Bitcoin from a technical level, the reality is the digital cash system still faces a serious regulatory issue in terms of its use as a payments mechanism due to the way in which the crypto asset is taxed.

Kind of a funny way to conclude an article on Blockstream's mining activities, no?

[SuperTA]

Bitcoin is outperforming altcoins because the big investors are buying bitcoin and not alts. They can't buy a big amount of altcoins because of a low liquidity. Chinese currency, yuan devaluation and trading wars makes chinese to invest in assets that can store their value. Those assets are gold, silver and bitcoin. But bitcoin is the best performing major asset this year.

If you look at the usd/yuan chart you can see similarity in bitcoin/usd chart. That shows us that some of yuan (chinese currency) is entering in bitcoin. But they are not the only one investing in bitcoin.

There are many nervous stock holders right now. The stock market doesn't look promissing at this moment. Many indicators are showing for a potential recession in the next months. So probably some of their money will go in bitcoin as well. Even if it's only 1% of the stock market money, it will be quite a boost for a small marketcap asset like bitcoin.

[Globb0]

via Imgflip Meme Generator

At 1st glance, wasn't sure if there was a bitcoin bottom meme/joke in there somewhere.
You know, like "the bottom is in...

...that poor kid's face"

Imagine the morning after baked bean night!

[JayJuanGee]

I checked some Bitcoin summer activities from 2012 untill now 2019.
Year 2012 to 2018 (2014 excluded). Bottoms from july to 25th august,  (1x june, but it's at the very end of june)

Bitcoin local bottoms included, (2012-2019)

18th august 2012

6th july 2013

25th august 2015

1st august 2016

16th july 2017

29th june 2018

17th july 2019 (for now)


P.S. In the 2014 there was no bottom in the summer, falling until january next year.

I believe that bitcoin is not really on a calendar year pattern, even though frequently guys try to find some correlation patterns therein.  They are loosely correlated at best, and could even be somewhat random.

[bkbirge]

Pretty cool... "Bitcoin has only spent 63 days in its history where it closed above current price. This was the factoid posted by crypto-analyst Ceteris Paribus on Aug. 6, along with comparative data for selected altcoins." ...
https://cointelegraph.com/news/bitcoin-price-is-currently-sitting-in-its-historic-top-2-range

The hackers are getting more sophisticated, this may be the negative of crypto that will always be with us, an endless cat and mouse game ...
https://cointelegraph.com/news/coinbase-says-it-prevented-a-crafty-phishing-attack-to-exfiltrate-keys

[realr0ach]

Kind of a funny way to conclude an article on Blockstream's mining activities, no?

I'm not sure how Blockstream even attempts to justify their existence.  Bitcoin is supposed to be open source, then a CORPORATION - corporations are private, for profit entities not based on open source - attempts to hijack the protocol as the only possible valid way to send transactions LOL.  So it's not really open source at all if Bitcoin is entirely controlled by a corporation and their proprietary, vendor lock-in solution.  It's as bad of a scam as crisis actor Donald Trump pretending to be a patriot while attempting to ban the 2nd amendment.

[SuperTA]

I checked some Bitcoin summer activities from 2012 untill now 2019.
Year 2012 to 2018 (2014 excluded). Bottoms from july to 25th august,  (1x june, but it's at the very end of june)

Bitcoin local bottoms included, (2012-2019)

18th august 2012

6th july 2013

25th august 2015

1st august 2016

16th july 2017

29th june 2018

17th july 2019 (for now)


P.S. In the 2014 there was no bottom in the summer, falling until january next year.

I believe that bitcoin is not really on a calendar year pattern, even though frequently guys try to find some correlation patterns therein.  They are loosely correlated at best, and could even be somewhat random.

maybe, but many random stuff like this helped me to predict btc bottom at 3100/3200 before it happened. It's not about the yearly calendar. Some of those are not even the real bottoms. I used this because we are in the summer which can influence activity a lot. Just look at the bitcointalk forum. There is less activity in the summer.

[realr0ach]

I believe that bitcoin is not really on a calendar year pattern, even though frequently guys try to find some correlation patterns therein.  They are loosely correlated at best, and could even be somewhat random.

maybe, but many random stuff like this helped me to predict btc bottom at 3100/3200 before it happened.

Common sense should tell you as the market cap increases, any type of market cycle would have to lengthen as well, leaving you with no possible correlation to any specific months.  Looking at a log chart, the current rise is also WAY WAY too soon after the last rise to be legitimate.  The Chinese mining monopoly shitters artificially rigged it up from $4k to where it is now in the least aggregate market moves ever seen.  I wonder if they're prepared for the fact that it's not possible for this manipulation to stick.

[g-uid]

Great news, everyone.  Miss Trollgoossens has now been featured on The Daily Stormer:

https://dailystormer.name/whore-ready-to-settle-down-after-sleeping-with-more-than-200-men-and-losing-her-virginity-aged-12/

Man you are really funny.

[fillippone]

Kind of a funny way to conclude an article on Blockstream's mining activities, no?

I'm not sure how Blockstream even attempts to justify their existence.  Bitcoin is supposed to be open source, then a CORPORATION - corporations are private, for profit entities not based on open source - attempts to hijack the protocol as the only possible valid way to send transactions LOL.  So it's not really open source at all if Bitcoin is entirely controlled by a corporation and their proprietary, vendor lock-in solution.  It's as bad of a scam as crisis actor Donald Trump pretending to be a patriot while attempting to ban the 2nd amendment.

Linux is open source and it’s plenty of CORPORATIONS legitimately trying to profit from it.
The logic of your statement is pretty weak.

[SuperTA]

I believe that bitcoin is not really on a calendar year pattern, even though frequently guys try to find some correlation patterns therein.  They are loosely correlated at best, and could even be somewhat random.

maybe, but many random stuff like this helped me to predict btc bottom at 3100/3200 before it happened.

Common sense should tell you as the market cap increases, any type of market cycle would have to lengthen as well, leaving you with no possible correlation to any specific months.  Looking at a log chart, the current rise is also WAY WAY too soon after the last rise to be legitimate.  The Chinese mining monopoly shitters artificially rigged it up from $4k to where it is now in the least aggregate market moves ever seen.  I wonder if they're prepared for the fact that it's not possible for this manipulation to stick.

Correlation is the summer activity. There is less activity in the summer. That's why bitcoin likes to make a local bottom in the summer. From 7 bitcoin years, 6 of them made a local bottom in the summer. so 6/7. This year is probably going to be the same case. So 7/8 of the btc summers. So this shows you no correlation? I don't usually use any predictions based on the month/year but this is an exception. If you read btc news, let me tell you, dont trade based on the news. You know what they say - Show me the chart and i'll show you the news. The news are tools for manipulating small traders. You can predict many price actions based on the current chart. Let me tell you it's not only about the chinese. Bitcoin would grow even without them.

I don't agree that this price action is way too soon.

[kurious]

I am coming out, I am a gay nazi and my synagogue is banning me from entry.

Man you are really funny.

Don't quote him, a lot of people here have this scumbag's hate speak on ignore.

[SuperTA]

I believe that bitcoin is not really on a calendar year pattern, even though frequently guys try to find some correlation patterns therein.  They are loosely correlated at best, and could even be somewhat random.

maybe, but many random stuff like this helped me to predict btc bottom at 3100/3200 before it happened.

Looking at a log chart, the current rise is also WAY WAY too soon after the last rise to be legitimate.

Why do you think it's too soon? Is it because you are looking at the previous bear market in 2014 which was way over extended because of the mt.gox collapse. You can't base your prediction only on that. I know many people compare 2014 bear market with 2018 bear. Just don't cuz it's a very different circumstances. That's why many of them think it's too soon. It's not.

[lightfoot]

**Random Shit**

Don't quote him, a lot of people here have this scumbag's hate speak on ignore.

Indeed. But that URL is fucking funny.

Wonder how long it would take to write a plugin that would replace any quoted Roach post with "**Random Shit**"

[600watt]

I am coming out, I am gay nazi and my synagogue are banning me from entry.

Man you are really funny.

Don't quote him, a lot of people here have this scumbag's hate speak on ignore.

all he wants is to produce an ongoing connection between his racism and hate to this forum. everyone quoting him is helping this fucked up retarded arsehole wanker. i doubt he is genuine.

i personally ALWAYS login before reading anything in here, just to be sure i am not confronted with this fuckers shit who is no 1 on ignore list.

dont feed the fuckers.

[zhekinsp]

**Random Shit**

Don't quote him, a lot of people here have this scumbag's hate speak on ignore.

Indeed. But that URL is fucking funny.

Wonder how long it would take to write a plugin that would replace any quoted Roach post with "**Random Shit**"

No need for plugins just bury his posts on the walls by making more good posts on WO.

[mindrust]

I know you'll hate me for this but is this the right time to get some shitcoins?   Maybe with the 0.5% of the crypto portfolio? It can surely go down a lot more but what if It goes up?  

XMR and LTC looks so cheap. Especially LTC. Shiet it is 0.007. I dumped mine at somewhere around 0.016 or 0.018 Wew! Feelsgood man. I can get back more than double of what I sold now but not sure If i really want them.

There will be a price point, it will become so cheap, some people won't be able to resist, no matter how pointless and shitty these alts are. It is all part of the speculation.

Maybe It is better to wait for the BTC ATH before making that decision and only then invest %1-3 in shitcoins.

*No need to mention: the aim is to get more bitcoins without getting bamboozled by the altcoin hodlers.
** I have that fuckface on ignore and I never ever read the post that quoted him. I advise you to do the same.