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

[luckygenough56]

i wish you all a good wall street monday

[Erdogan]

anyone, can tell me, how to predict price of bitcoin,??

Not possible, but you can try. I like to think of it as a game of poker, where you allocate odds that it goes this way or the other. I bet that there is a better chance of bitcoin going up than going down, hence I am long. I have been wrong basically for two years now.

[ChartBuddy]

Coin
Explanation

[Wary]

im more than happy if bitcoin reach 3000 usd  

btw : http://www.otcmarkets.com/stock/GBTC/quote

GBTC bid is 400 usd almost double the price atm

Long story short, I'm a long time hodler. I don't look at the past to predict the financial potential of bitcoin. TA, graphs of previous convertion rates against US dollars or even statistics of current longs/shorts are sources i would use to predict the future. Yet, I'm following the story of GBTC with as big and wet eyes as you. Is Wall Street going for it? I think an upward movement in price of bitcoin is extremely relevant for adoption. It's exiting times!

I think you mean exciting times... lol.

Freudian slip

[sAt0sHiFanClub]

Lot of buying going on..

[madmat]

anyone, can tell me, how to predict price of bitcoin,??

Very simple. Price is going to be 32,000$ the day of the halving.

http://bitcoinclock.com/

[JorgeStolfi]

The instigator of all this might have been me. I think it is appropriate for me to reveal that I indeed made such a request to Theymos a bit less than a week ago.  I have been reading these boards for quite a long time - and trolling has always been present - but lately it was really, really getting out of hand. Next to that I noticed that scam posts and troll posts outside of the Wall Observer topic just managed to stay there for many hours/days on some occassions, which gave me enough reason to believe that Blitz is actually inactive. I asked to add someone to assist Blitz in that regard.

A board that is not being moderated will as a rule bring about the worst the internet has to offer, given sufficient time has passed. Moderation is a harsh necessity which I once again welcome here.

Well, ... except that the thread was started by Adam, and he has been quite active all the time here.  Perhaps he should have a say on what he thinks belongs in the "& discussion" part of the topic?  It not nice to accuse him of negligence, just because his thread is not the way you like...

In 16 months and several thousand posts on this thread, I had only one post deleted by Adam -- not because it was off-topic, but because it was negative about bitcoin and he got upset about it.  The next day, without me asking, he restored the post and apologized.  A fine fellow he is indeed...

Now I suddenly have 10 posts of mine deleted in a row, including the one below, which is quite on-topic:

I find it hard to believe that the heavyweight attorney that specializes in this SEC stuff can't make it happen or know the approach to making it a high probability. I'm sure she has had clients that work in key areas of the SEC and/or is on a first name basis w/ politicians that can properly lean on the needed personnel to lock this up.

The SEC's approval depends on an evaluation of merit.  Many applications are denied.

Furthermore, I'm sure major interest across wall street and the hedge fund scene want this type of thing up and running to put portions of their assets into it for an intense growth wing.

Is that a fact?  Entities that have invested in bitcoin (Fortress, Overstock, DigitalBTC, Tim Draper, The Bitcoin Foundation) seem to have regretted it, and did not want to repeat the experience.  They could have bought shares of BIT from SecondMarket, but they didn't.  They could have bought raw bitcoins (brokers would be happy to assemble large lots for them), but they didn't.  (Risk is not a concern for large investors, they can hire expertise and guard their coins as safely as COIN would do.)

Wall Street obviously does not see bitcoin as being worth more than 220 $/BTC right now... 

The last price bubble was China adopting bitcoin; but then China effectively banned its use, so that bubble has been deflating since then.  The next price bubble must come from some demand even bigger than China's.  Russia is about to ban it, India does not seem interested, Africa and Latin America are unlikely to buy much.  Basically the only hope is "Wall Street" and/or IRA accounts.  But that depends on COIN being approved. 

If this is not on-topic for "Price movements & discussion", I don't know what is.

[Cassius]

The last price bubble was China adopting bitcoin; but then China effectively banned its use, so that bubble has been deflating since then.  The next price bubble must come from some demand even bigger than China's.  Russia is about to ban it, India does not seem interested, Africa and Latin America are unlikely to buy much.  Basically the only hope is "Wall Street" and/or IRA accounts.  But that depends on COIN being approved. 

If this is not on-topic for "Price movements & discussion", I don't know what is.

http://www.ibtimes.co.uk/bitcoin-use-switches-investment-commodity-everyday-currency-new-data-reveals-1496316
'the top emerging country in 2014 was Brazil, with 406% merchant signup growth from the previous year'

Buyers may not be interested yet, but it's gratifying that Brazil is the BTC merchant growth capital of the world. Congratulations, Jorge.

[ChartBuddy]

Coin
Explanation

[8up]

I pretty much share the same short-term view.

Here's DanV's newest projection.

[ensurance982]

I pretty much share the same short-term view.

Here's DanV's newest projection.

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

[Fatman3001]

I pretty much share the same short-term view.

Here's DanV's newest projection.

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

It certainly is. Now that his TA based predictions conforms with my hopes and dreams I must declare that TA is hard-science and is a powerful tool to help predict the market.

[ChartBuddy]

Coin
Explanation

[micalith]

anyone, can tell me, how to predict price of bitcoin,??

easy: buy all the coins, manipulate the market.

[noobtrader]

im more than happy if bitcoin reach 3000 usd 

btw : http://www.otcmarkets.com/stock/GBTC/quote

GBTC bid is 400 usd almost double the price atm

Long story short, I'm a long time hodler. I don't look at the past to predict the financial potential of bitcoin. TA, graphs of previous convertion rates against US dollars or even statistics of current longs/shorts are sources i would use to predict the future. Yet, I'm following the story of GBTC with as big and wet eyes as you. Is Wall Street going for it? I think an upward movement in price of bitcoin is extremely relevant for adoption. It's exiting times!

I think you mean exciting times... lol.

lol...

btw graph at 3 exchange really similiar and price barely moving 

[phoenix1]

I pretty much share the same short-term view.

Here's DanV's newest projection.

<snip>

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

No. If you understand what he has written on TV, and the chart labelling, he is opening up to the possibility that we are still in a corrective move from the $166 low. See his green line to $360, labelled [C] - that would mark the end of the correction (from $166) and resumption of the downtrend to new lows at $xx(x?). IDK if this significantly alters his downside target, but it would certainly drag this bear market out several months longer than his previous count, which had us starting the move to new lows from $300 a month ago. Pick your poison ...

EW counts evolve with price action. To him this current action does not fit well with his previously published chart, so he is publishing a new one, as any sensible analyst would do.
Remember - the best EW analysts have multiple counts running in parallel at any one time. It is only by excluding those that are invalidated and focussing on those with the higher probabilities (according to EW rules) that they stay on track. But they will keep an eye on alt-counts in order to switch if the primary count is invalidated/looks less probable.


Here is the link to the chart with his commentary:

https://www.tradingview.com/chart/BTCUSD/EUytkasj-BTCUSD-FURTHER-SHORT-TERM-WEAKNESS-IN-STORE-WITH-OF-TARGET-210/

[hdbuck]

I say we are heading for Lower Lows.

[SkyValeey]

I pretty much share the same short-term view.

Here's DanV's newest projection.

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

BEWARE: DanV is very good with downtrend predictions/bottoms/lows etc., but he's not good with predictions about UP. This is typical attribute about Elliott's waves analysis that is easier to use EW to dips than ups. I don't know if this is unique feature for EW and Btc but I can see this from long time. Maybe it's just because analysis in general is easier in downtrend than in uptrend, who knows.

[8up]

I pretty much share the same short-term view.

Here's DanV's newest projection.

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

BEWARE: DanV is very good with downtrend predictions/bottoms/lows etc., but he's not good with predictions about UP. This is typical attribute about Elliott's waves analysis that is easier to use EW to dips than ups. I don't know if this is unique feature for EW and Btc but I can see this from long time. Maybe it's just because analysis in general is easier in downtrend than in uptrend, who knows.

Then can someone please provide EW to this chart?

[ensurance982]

BEWARE: DanV is very good with downtrend predictions/bottoms/lows etc., but he's not good with predictions about UP. This is typical attribute about Elliott's waves analysis that is easier to use EW to dips than ups. I don't know if this is unique feature for EW and Btc but I can see this from long time. Maybe it's just because analysis in general is easier in downtrend than in uptrend, who knows.

Huh, okay! But isn't this effectively a bottom/turnaround prediction, then? Wouldn't this infer that he's actually good at recognizing/predicting this kind of stuff? (Just trying to understand things better )