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

[phoenix1]

 
I wish it would happen so he would stop talking about it ... getting kinda boring

<grabs pencil, starts analysing BFX statistics as if they are the only market driver>

[inca]

Let's see you trading record fonzie..

Holding my breath..

[luckygenough56]

The dump3er guy tells you: Sub 100 is coming. When? Soon...
Was the dump3er wrong before,[........blablablabla...dumptydumptydump]

I'm getting fed up with these self-appointed oracles of doom who think that just because they can spot a year long downtrend that they somehow have figured it all out, and that pissing on everyone else is an act of benevolence. You don't need much of a pair to say stuff might go further down, but if you're loading some cahones (or huge clit, I guess) you might have a stab at spotting the bottom.

Yeah. 70 - 80.

Quote me on this dude since the dump3er is never wrong! It's like witchcraft! Ask the crowd of hyperventilating girls.

You can thank and worship me later!

You can't be wrong cause bitcoin target is 0 in the long run  

[inca]

 
I wish it would happen so he would stop talking about it ... getting kinda boring

<grabs pencil, starts analysing BFX statistics as if they are the only market driver>

A cursory glance at the short interest and price swings shows they are heavily correlated..

[marcus_of_augustus]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

[subtleknife]

I was promised a Chinese panic dump today. Where is my $200 coin? Weekend can't come soon enough.

[8up]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

Yes.

Edit: Do you have access to any marketcap based charts or raw data?

[phoenix1]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

So, as more coins are mined, we can keep hitting lower lows without reaching a lower 'market cap' ... interesting, never thought about it like that before

[fonzie]

INCA you are nothing else than a bull scammer. An honest upright bull would prefer to see a sustainable growth.
But bull scammers like you are just waiting for a quick pump and dump short squeeze to unload their bags to the next bigger fool.
I am dissapointed.
Bitcoin would be better off without scammers like you.  

[ChartBuddy]

Coin
Explanation

[luckygenough56]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

That must be it, we didn't retest the old ATH price but the old ATH marketcap, why can't i see it before ? Why can't i see obvious signs everywhere ?

 

[Fatman3001]

The dump3er guy tells you: Sub 100 is coming. When? Soon...
Was the dump3er wrong before, when he said "This shit is crashing hard"?! No!
Was the the dump3er wrong when he said "Buy this bull trap now and sell it to inca on the top"? No!

If you are not listening to the dump3er you will be a dead astronaut!

Surrender, you maggots! Bow before the dump3er!

Bitcoin production costs is above $100. So forget sub $100 bitcoins.

Wrong. for people with free hardware no overhead and "free" electricty its close to zero.



But that is no indicator of its value. It can become $1000 in less then 6 months to make 1 BTC if more hardware hits the network.

I agree that mining costs are no indicator of value, but there is a stronger correlation than you are suggesting. People with free HW and free electricity do not have a significant share of the hashrate. If the price moves to $150-$100 territory a lot of miners will have to abort,and those who are left will be the ones with lower cost. For costs to increase tenfold in 6 months then you're mining with outdated HW. And then there is someone else mining at $100. There is no way the bitcoin mining industry is going to grow tenfold in 6 months with current gen HW or equivalent with next gen. That HW needs to come from somewhere, and it needs to be housed, and you'll need to find 4-6 Gigawatts of surplus energy. The mining business has entered the big league. The sharp rises will come from next gen HW hitting the network. Bitcoin is risky, so tying up massive amounts of physical infrastructure to an investment you might need to bail out on a couple of months later is not for the faint hearted. And that is for unknown risks, how will the industry adjust when rewards halves next year?

But if that is the case, that means that even if Bitcoin rises to the promised land of $3000+, miners will still be getting them at below $500 for months.

[NotHatinJustTrollin]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

That must be it, we didn't retest the old ATH price but the old ATH marketcap, why can't i see it before ? Why can't i see obvious signs everywhere ?

 

He's right, every trader or every buyer/seller is looking at that as a buy target instead as the ACTUAL previous ATH at $266.

lol

[trackermut]

Let's see you trading record fonzie..

Holding my breath..

Nice +1

[Morecoin Freeman]

I'm extremely happy with the current situation because I'm beginning to realize we probably bottomed out recently. This could prove to be a rally good year for every bitcoin supporter. The dumpers are getting lonely.

[8up]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

Yes.

Edit: Do you have access to any marketcap based charts or raw data?

Bitcoin market cap in tradingview: https://www.tradingview.com/e/?symbol=QUANDL:BCHAIN/MKTCP&style=2&interval=D#

[marcus_of_augustus]

anyone else notice that the recent bottom in price, 'so-called market cap (value of total coins issued) was also a test of the market cap at old ATH $266 price ~$2.5 bill.?

Seems like that will have made a very solid bottom (I'm calling it a top for the current crop of fiat currencies).

So, as more coins are mined, we can keep hitting lower lows without reaching a lower 'market cap' ... interesting, never thought about it like that before

Well it is more in line with a volatility of market cap of a start-up before IPO, but this particular start-up, bitcoin, is continually issuing stock and diluting the existing stock. Dilution of shares also happens with many companies but usually in blocks of issuance due to capital raising events, etc. Sometimes the market cap is affected but not dramatically.

It looks like we may have successfully tested the old ATH market cap and now it starts going back up. Using price as your only metric can be dangerous because price has so many emotional attachments due to human perceptions, particularly day traders, short term positions. Large scale trends need to renormalise out price to other more reliable metrics to be able see underlying factors driving network growth, adoption and value usage.

[damiano]

Looks like Bears are struggling to protect 220

only a matter of time till it gets torn down

[Morecoin Freeman]

[inca]

INCA you are nothing else than a bull scammer. An honest upright bull would prefer to see a sustainable growth.
But bull scammers like you are just waiting for a quick pump and dump short squeeze to unload their bags to the next bigger fool.
I am dissapointed.
Bitcoin would be better off without scammers like you.  

Says probably the 2nd biggest troll on the site..

Finex:
Shorts 20,464
Longs 14.9m USD

Keep trying bears