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

[YourMother]

10.000 USD pr coin is what I would say is the real bitcoin price, if the market was fully informed. I think a lot will happen soon, and definitely the prices should be between 1000 and 10000 soon... with the 2500-5000 an more realistic range of the next bull market.

10,000 USD per coin, would make bitcoin only 0.18% of the global money supply (M2). I think this magic currency has the potential to play a much bigger role in global economics  

This is exactly why we are still in infancy of the bitcoin history. Its like we still play in the sandbox at the kindergarten. Max Keisers prediction of 1 million dollar pr Bitcoin is worth thinking about on a daily basis. Its just a matter of time. I would say 10.000 dollar pr Bitcoin is the true value by now! With realistic result of this bull market hitting between 2500-5000 USD.

The transformation to the free world, will be very interesting in the next bulls of Bitcoin, as more people will be freed from the evil masters and this will contribute till even more people get freed... sorry I got back in the Matrix metaphor, that I have not used for years, as people around me got tired of listening to them in 2004-2007, but now they are very relevant in these days, as it happens in a very real maner with bitcoin as the tool.

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[ChartBuddy]

Coin
Explanation

[bassclef]

thanks... for me the more I try to think like a whale the more I imagine they have more to gain by continuing the downtrend.

They will continue in the direction of least resistance according to supply and demand. That is why after capitulation they began pumping instead of dumping. Fighting natural market forces is a good way to go broke, any market professional knows this. They won't do it. There is also a good chance that they can see both sides of the market and have insider connections--so they know when to mark the price up or down ahead of how much fiat is entering the exchanges and what kind of news is coming out.

They've tested the hell out of this price range and it resulted in an accumulation gradient of rising bottoms (likely by multiple competing interests). This is bullish. They see this. We will test downward as many times as needed to break $300. If it means that they hold most of the coins on Finex to do this, so be it. They will be distributed later.

I get your points. It's just considering the implication that the large actors are sufficiently stacked to change market sentiment completely (tweak indicators, create momentum, etc) wouldn't it be profitable to sell into a rising bull market if you feel with a degree of certainty that you can manipulate it down again? When the consensus targets are above an exit point you are happy with, you know they are going to continiously keep buying at your favourite point before getting exhausted. Let's assume 300 is that point, would roughly 100% gains (if for arguments sake their buy point was near the 166 bottom, and we discount the massive rebound to 315) or more not be sufficient for this whole exercise? The new "sustainable" bull market can come later when the institutions are properly set up and notable new money is flowing in.

Every move costs them money and they want to reduce costs, as anyone logically would in their position. They cannot take control of the entire market; there is still organic trading and medium sized whales that will profit from them given the chance. It's simply more expensive to dump into a bull market that has removed so much supply from weak hands and has so many accumulators waiting. They could still dump down to $220 today, but why would they? It would be prohibitively expensive the likelihood of the dump being successful is reduced as everyone tries to frontrun everyone else for cheap coins. Instead they can push up, which is cheaper and it benefits their massive portfolio of coins they've been building.

The way I see it, Jan 25th's volume shows a large distribution area around $300-$315. This is whales unloading longs from the bottom--they cannot hide from that volume. They likely reloaded during the next few weeks in stealth (the pump before the Bter news had whale footprints) but are still holding as there hasn't been a spike in volume nor a buying climax yet for them to sell into. In fact volume has been reducing, indicating that they're largely observing and waiting. Now if there isn't sustained buying at this level as we consolidate sideways for a few weeks, I could envision an eventual extended test downward to force out remaining bears as they unload and push the market down. If we hold $280 and the market shows a bullish bias in the coming days, I think the direction is obvious for them.

[Trolfi]

Lamby!

[ejinte]

something to look at if you're bored:
http://cyber.fund/cyberep

[michaelGedi]

...

thanks, makes a lot of sense. I'm happy to wait with them and observe, for now

[Wolf Rainer]

http://blogs.wsj.com/moneybeat/2015/03/12/bitbeat-bitcoin-coder-garzik-signs-deal-to-deploy-bitsats-in-space/

[Brewins]

https://www.youtube.com/watch?v=3s7UVY5yv7Y

Can bitcoin safe Greece??

If the Greek people begin to use bitcoin instead of Euro, Bitcoin will EXPLODE!! Another pro bull market argument... The people with Shorts on please wake up, before you get margin called out, and we all have to feed you with our spare satoshis!  

And how do you propose the greeks are going to get bitcoin? Buy it with what, exactly?

Are you going to loan them some? Because that worked out real well for the Germans...

Get real man, if you are going to troll, do so with a sense of humour and irony. This is simply not trying hard enough. You Greek, by any chance? 

they will get BTC with signature programs and faucets. The same that some people wanna ban and say that is worthless.

[Bitcoiner_cph]

10.000 USD pr coin is what I would say is the real bitcoin price, if the market was fully informed. I think a lot will happen soon, and definitely the prices should be between 1000 and 10000 soon... with the 2500-5000 an more realistic range of the next bull market.

10,000 USD per coin, would make bitcoin only 0.18% of the global money supply (M2). I think this magic currency has the potential to play a much bigger role in global economics  

This is exactly why we are still in infancy of the bitcoin history. Its like we still play in the sandbox at the kindergarten. Max Keisers prediction of 1 million dollar pr Bitcoin is worth thinking about on a daily basis. Its just a matter of time. I would say 10.000 dollar pr Bitcoin is the true value by now! With realistic result of this bull market hitting between 2500-5000 USD.

The transformation to the free world, will be very interesting in the next bulls of Bitcoin, as more people will be freed from the evil masters and this will contribute till even more people get freed... sorry I got back in the Matrix metaphor, that I have not used for years, as people around me got tired of listening to them in 2004-2007, but now they are very relevant in these days, as it happens in a very real maner with bitcoin as the tool.

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

[gentlemand]

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

I think it's a subject best kept to oneself. If you run around evangelising it then you sound like a pushy nutter. If you persuade someone you know to get involved and anything goes wrong, be the whole thing going tits up or them getting hacked, it will forever be no one's fault but yours.

[ChartBuddy]

Coin
Explanation

[JimboToronto]

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

I think it's a subject best kept to oneself. If you run around evangelising it then you sound like a pushy nutter. If you persuade someone you know to get involved and anything goes wrong, be the whole thing going tits up or them getting hacked, it will forever be no one's fault but yours.

I wear a ballcap with just the BTC logo on it, not the word itself. Those who recognize it are usually predisposed toward Bitcoin and will often stop me to ask about it and my involvement with it.

Toronto being a hockey town, most people think it's something to do with the Boston Bruins though. LOL

It's kinda like younger women. If you hit on them, you're a dirty old man. If you let them hit on you, you're a cool old guy.

If you shove the subject of Bitcoin in people's faces, you're an evangelizing pushy nutter. If you let them approach you first, you're a knowledgeable aficionado.

 

[inca]

10.000 USD pr coin is what I would say is the real bitcoin price, if the market was fully informed. I think a lot will happen soon, and definitely the prices should be between 1000 and 10000 soon... with the 2500-5000 an more realistic range of the next bull market.

10,000 USD per coin, would make bitcoin only 0.18% of the global money supply (M2). I think this magic currency has the potential to play a much bigger role in global economics  

This is exactly why we are still in infancy of the bitcoin history. Its like we still play in the sandbox at the kindergarten. Max Keisers prediction of 1 million dollar pr Bitcoin is worth thinking about on a daily basis. Its just a matter of time. I would say 10.000 dollar pr Bitcoin is the true value by now! With realistic result of this bull market hitting between 2500-5000 USD.

The transformation to the free world, will be very interesting in the next bulls of Bitcoin, as more people will be freed from the evil masters and this will contribute till even more people get freed... sorry I got back in the Matrix metaphor, that I have not used for years, as people around me got tired of listening to them in 2004-2007, but now they are very relevant in these days, as it happens in a very real maner with bitcoin as the tool.

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

We all love btc. Even the bears and trolls. Especially them :p

[Afrikoin]

Glad to see this

[Norway]

I'm drunk now, and that gives me the power of truth!

I just get a feeling that somebody is driving the price of bitcoin versus USD down to protect the current system. But there is a technical bottom for driving the price down. Maybe we reached that bottom in mid-january this year? Maybe it's deeper. But the theoretical limit is down there somewhere. When the US are spending a gazillion USD to prevent a 14 year old kid from buying all bitcoin on exchanges for just 1 USD. The limit is above that. (And yes, when I say US, I actually mean the people running both US and China, he he).
 
I have read so many times bitcoiners saying that the price is not relevant. I have read that volatility is a problem. I have learned that bitcoin is SO FUCKING ROBUST to financial beatings. But the development of the price is extremely relevant. People have NO PROBLEM of storing their monetary values in a currency growing extremely fast! They just don't want it to go down. Volatility is not a problem. The problem is when your cash lost 10% during the day. To explain it to somebody as drunk as me. Up down up up down up down down up down up up down up down down up is not a problem when you want to store value. The Indonesian guy making sandals for tourists taking bitcoin is NOT worried about volatility. Only that the price is going down. He and me are just as greedy as the wall street guys and the lizards/aliens running them. The stakes are actually the same! The sandal maker and the wall street guy have excactly the same feeling when their wealth is reduced by 50%. They have the same joy when it's increasing.

I'm drunk, so I repeat myself. The adoption of bitcoin would be faster if price went up fast. It's a motive to manipulate the price down for the richest people in the world today. But there is a downward limit for manipulation. Maybe we saw that limit the 14.th of january. Maybe it's lower.

Long story short, people running the show have strong motives to let the price crash (To kill bitcoin). Maybe large scale shorting can do that. I think that is a reasonable path. But as we have all seen, it's really hard to knock it completely dead!

I'm editing this text above so much while beeing even more drunk than when I started to write this deep hearted text. I loose sight of the logical timeline in the text while editing. So all I can do at this moment, is to quote another drunk gentlemans words:

"THIS IS GENTLEMEN"

[electerium]

I think this is what we can expect the next few weeks:


Lots of sideways action between 280-295
Lots of Sat/Sunday pumps
Lots of Wednesday-Sat dumps


People clearly feel that there is an imminent announcement. Whehter it is gbtc, gemini, or another huge VC investment, or even COIN news, people are going to buy up lots of coins between Sunday to Monday night in anticipation of an announcement.

Fundamentals are clearly improving, and in retrospect, we should have all gone long when Gemini stated that they plan to launch with a US facing bank that will provide full fledged USD services.

If you're sitting on the sidelines, I'd look to buy later in the week.
If you're looking to dump a heavy position, do it early in the week and always refresh reddit, twitter, and have sms news alerts before you pull the trigger.

I'm not necessarily convinced anything is on the horizon besides Gemini (which should have a monumental impact given that China currently holds about 75% of trading volume-- but if you remove btcchina they probably hold somewhere between 35-60% of all volume). But if Gemini launches with capabilities beyond buying and selling, and if this US facing bank is crazy bullish on bitcoin, it will pave the way for COIN and literally set an absolute floor for bitcoin in terms of value. A lot of people don't understand that a lot of institutional $ doesnt really move around. We're talking about roths, pensions, etc. All of those monies literally sit unmoved for years and decades. It will ensure that barring some zero day exploit, bitcoin will have an absolute floor in a post-gemini, post-etf world. Literally "cheap" coins will be a figure of speech.

[Bitcoiner_cph]

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

I think it's a subject best kept to oneself. If you run around evangelising it then you sound like a pushy nutter. If you persuade someone you know to get involved and anything goes wrong, be the whole thing going tits up or them getting hacked, it will forever be no one's fault but yours.

I wear a ballcap with just the BTC logo on it, not the word itself. Those who recognize it are usually predisposed toward Bitcoin and will often stop me to ask about it and my involvement with it.

Toronto being a hockey town, most people think it's something to do with the Boston Bruins though. LOL

It's kinda like younger women. If you hit on them, you're a dirty old man. If you let them hit on you, you're a cool old guy.

If you shove the subject of Bitcoin in people's faces, you're an evangelizing pushy nutter. If you let them approach you first, you're a knowledgeable aficionado.

 

Thank you very much guys!!! That's the best advise I have got in a very long time, will be very helpful for me... I am very happy now... I want to go get some beers and begin to talk the truth (after) with you guys

[Afrikoin]

I'm drunk now, and that gives me the power of truth!

Smoke up! Don't drink.Drink bad

[fonzie]

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

I think it's a subject best kept to oneself. If you run around evangelising it then you sound like a pushy nutter. If you persuade someone you know to get involved and anything goes wrong, be the whole thing going tits up or them getting hacked, it will forever be no one's fault but yours.

I wear a ballcap with just the BTC logo on it, not the word itself. Those who recognize it are usually predisposed toward Bitcoin and will often stop me to ask about it and my involvement with it.

Toronto being a hockey town, most people think it's something to do with the Boston Bruins though. LOL

It's kinda like younger women. If you hit on them, you're a dirty old man. If you let them hit on you, you're a cool old guy.

If you shove the subject of Bitcoin in people's faces, you're an evangelizing pushy nutter. If you let them approach you first, you're a knowledgeable aficionado.

 

Thank you very much guys!!! That's the best advise I have got in a very long time, will be very helpful for me... I am very happy now... I want to go get some beers and begin to talk the truth (after) with you guys

[Norway]

Thank you for the clip!! makes me feel less alone... you know people around me think I am crasy for loving Bitcoins, by the way anybody have the same problem???

I think it's a subject best kept to oneself. If you run around evangelising it then you sound like a pushy nutter. If you persuade someone you know to get involved and anything goes wrong, be the whole thing going tits up or them getting hacked, it will forever be no one's fault but yours.

I wear a ballcap with just the BTC logo on it, not the word itself. Those who recognize it are usually predisposed toward Bitcoin and will often stop me to ask about it and my involvement with it.

Toronto being a hockey town, most people think it's something to do with the Boston Bruins though. LOL

It's kinda like younger women. If you hit on them, you're a dirty old man. If you let them hit on you, you're a cool old guy.

If you shove the subject of Bitcoin in people's faces, you're an evangelizing pushy nutter. If you let them approach you first, you're a knowledgeable aficionado.

 

Thank you very much guys!!! That's the best advise I have got in a very long time, will be very helpful for me... I am very happy now... I want to go get some beers and begin to talk the truth (after) with you guys

Actually, you just learned the essence of picking up women as in the great book "The Game" by Neil Strauss. Use it on those dirty sluts, not potential bitcoin nerds tonight!