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

[Elwar]

Hello, I am here from the future to tell you about the stabilization of the Bitcoin price.

Hold on now, if you're from the future who's the president?

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[aztecminer]

You guys watching finex?  Someone does not want it over $220.  Insta 3k BTC sell wall, LOL

i think 'the great legendary trade sideways of 2015 and 2016' has commenced ('chinese panic' and 'dream pump' canceled) .  bitcoin staying range bound until jan 2017 or until the economic crisis hits whichever comes first .

[NotHatinJustTrollin]

Yup. The hypocrisy of people complaining about bear trolls when those same people were calling for 100k per bitcoin back during the last major run-up gets pretty old after a while.

So spending time on a BITCOIN forum talking about how great it is is the same as spending time on a BITCOIN forum talking about how crap it is and how stupid bitcoiners are?

Don't get me wrong. I don't need an echo chamber in here, but I tend to distinguish between trolls and enthusiasts.

I think you misread my post, so allow me to clarify for you: I did not say "people who talk about how great bitcoin is." I said "those same people were calling for 100k per bitcoin."

Can you see the difference between "I love bitcoin, bitcoin is great" and "OMFG BUY BUY BUY BITCOIN TO 100k! WHAT RETARD IS SELLING RIGHT NOW WE'RE AT 700 AND GOING UP UP UP!"

If you say nothing but the former, then sure, get pissed when someone responds with "bitcoin fucking sucks you stupid asshole go die in a fire." But if you spammed the latter during the huge rise -- which have always historically preceded big drops -- you can't be mad when someone goes "DOWN DOWN DOWN BITCOIN TO 10!" in the middle of a plummet. Well, you can, but you'd be an enormous hypocrite.

Think about it: both sides know they're full of shit and cannot even come close to guaranteeing their assertions, but they will speak as if their opinion is absolutely infallible and inevitable. Ultimately, I think that is okay. IMO it's fine to bullshit. I mean, if you shorted, for example, you obviously think price is going down, so all you're doing by calling for $10 bitcoins is being hyperbolic (nobody can reasonably expect $10 bitcoins in the next month or two, just like nobody could reasonable expect 100k coins within a couple of months when we are at 900).

Hyperbole doesn't annoy me, but hypocrisy does -- in this case, bullshitting, then getting mad when someone bullshits from the opposite side.

Not to say that there are no bear trolls -- I imagine a lot of them are prodding with sticks to gauge sentiment rather than straight-up getting paid -- but yeah no doubt there definitely are. But if you truly believe in bitcoin, and still strongly believe it's going to skyrocket, you would be patient and wait for that to happen so you can laugh in their faces about it. The fact that people respond so caustically to the trolls -- whereas during the bull market they were laughed off -- tells you something about the changing sentiment and lingering doubt, which could mean there is still a ways to go as that doubt turns into despair when those final bulls turn bear.

Yep, I can't wait for the final "capitulation-despair-blood on the streets-maximum financial opportunity-every bull turns bear" phase to kick in when price reaches $21 so it shoots for $32 before slamming back down  


No but trolling aside, if there is no demand, a "despair phase" is not gonna change things and suddenly start a new bull market.
Despair phases = necessary condition for strong trend reversals, but not sufficient ones.

[podyx]

Bitcoin is clearly ready for world domination:

https://www.reddit.com/r/Bitcoin/comments/2vg24f/real_life_experience_paying_with_bitcoin/

I don't think anybody here thinks bitcoin will be the world dominant currency at this stage. It's still far from useable for even the decently techcompetent people

[JimboToronto]

...when those final bulls turn bear.

Aint gonna happen.

You can only speak for yourself.

And vice versa.

I may enjoy laughing at all the self-serious bears but I don't consider myself a permabull.

I cautiously believe long-term in the future of Bitcoin but I recognize the ups and down of the price of bitcoins. I also acknowledge the possibility of some kind of failure of Bitcoin, as improbable as that may be.

[NotLambchop]

...when those final bulls turn bear.

Aint gonna happen.

You can only speak for yourself.

Don't contradict the elderly.
Not when he's all hopped up on erectile disfunction pills.  You might set him off--no one wants to see that happen.

[ChartBuddy]

Coin
Explanation

[NotHatinJustTrollin]

...when those final bulls turn bear.

Aint gonna happen.

You can only speak for yourself.

And vice versa.

I may enjoy laughing at all the self-serious bears but I don't consider myself a permabull.

I cautiously believe long-term in the future of Bitcoin but I recognize the ups and down of the price of bitcoins. I also acknowledge the possibility of some kind of failure of Bitcoin, as improbable as that may be.

This is all that matters  
If you really wanna be a bull: invest what you are perfectly comfortable losing in case it fails, enjoy it if it succeeds, be safe in case it doesn't.

I'm not so sure all the bulls in this forum are on the same page though.
Some of them are seriously overinvested.

[Sitarow]

[dropt]

You guys watching finex?  Someone does not want it over $220.  Insta 3k BTC sell wall, LOL

i think 'the great legendary trade sideways of 2015 and 2016' has commenced ('chinese panic' and 'dream pump' canceled) .  bitcoin staying range bound until jan 2017 or until the economic crisis hits whichever comes first .

Agreed.  We should speculate on why for fun.   One guess could be to reset the long term indicators, perhaps an attempt to put a stop to the downward's spiral.

[ParabellumLite]

Is it just me, or is there really little buying pressure going on at the moment?  Rather boring this island of relative stability we're seeing here. But at some point the whale boys will get bored and start dumping again probably.

[JimboToronto]

I'm not so sure all the bulls in this forum are on the same page though.

Likewise the bears.

Some may be current-market daytrader bears talking their book, while still holding large paper wallets for a bullish long term.

Others appear to have an anti-Bitcoin agenda, either because of trying to save face or because their business is threatened.

Some of course are just kids who want to try to appear cool by going along with the crowd.

[hdbuck]

You guys watching finex?  Someone does not want it over $220.  Insta 3k BTC sell wall, LOL

i think 'the great legendary trade sideways of 2015 and 2016' has commenced ('chinese panic' and 'dream pump' canceled) .  bitcoin staying range bound until jan 2017 or until the economic crisis hits whichever comes first .

Agreed.  We should speculate on why for fun.   One guess could be to reset the long term indicators, perhaps an attempt to put a stop to the downward's spiral.

crisis! crisis! crisis! crisis! crisis! crisis! crisis! crisis! crisis! crisis! crisis! crisis!

[NotHatinJustTrollin]

Is it just me, or is there really little buying pressure going on at the moment?  Rather boring this island of relative stability we're seeing here. But at some point the whale boys will get bored and start dumping again probably.

The sideways is normal and predictable.
it really is that simple:

Price can't go lower for now because it has to be forced to exit the current pennant. Breaking down now would be premature there is no momentum for that. Next move (prolly a big dump) in about 4-5 days.

Maybe one week but that's a lot. The sideways is only temporary.

[Deadstock]

sub $200 would've been nice

[NotLambchop]

...
Some of course are just kids who want to try to appear cool by going along with the crowd.

And some are diapered, elderly, and in denial.
Thanks for the bolo tie, grampa.  

[octaft]

...when those final bulls turn bear.

Aint gonna happen.

You can only speak for yourself.

And vice versa.

I may enjoy laughing at all the self-serious bears but I don't consider myself a permabull.

I cautiously believe long-term in the future of Bitcoin but I recognize the ups and down of the price of bitcoins. I also acknowledge the possibility of some kind of failure of Bitcoin, as improbable as that may be.

At the height of the bubble you were talking about "when bitcoin hits 100k" like it was a foregone conclusion. Now you want to tell me you're cautious and "recognize the ups and downs."

Well, I guess I did say bullshitting is okay. 

If he can only speak for himself, and he's a bull, then your argument is invalid. 

If it makes you feel better to mince my words as justification to invalidate everything I've said, I don't mind. I will say that I think my meaning was pretty clear, and I already put enough effort into my longer posts. I'm not going to bother spending even more time just to make sure I perfectly choose my words to make it absolutely impossible for someone to dance around them rather than address them when they respond.

[dropt]

sub $200 would've been nice

We already had that not too long ago, and for a long time way back when too.  

[dropt]

If it makes you feel better to mince my words as justification to invalidate everything I've said, I don't mind. I will say that I think my meaning was pretty clear, and I already put enough effort into my longer posts. I'm not going to bother spending even more time just to make sure I perfectly choose my words to make it absolutely impossible for someone to dance around them rather than address them when they respond.

Yeah, I know.  I was just being a smartass.  Then I felt bad and deleted it, but not before you caught it! 

[dsly]

Hello, I am here from the future to tell you about the stabilization of the Bitcoin price.

And at what price is that, man from the future ?