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

[empowering]

I do not see a Grexit having a direct effect, i.e Greeks buying BTC en masse.

However I do think that each case of capital control that is imposed, or even suggested, and each case of bail in's or potential bail ins that occurs, it does have an effect on the use case for Bitcoin for the rest of the world.

Also, in the event of an actual Grexit , it would send a shock wave around the entire globe, effecting most/all markets,  though it may be short lived, it would most likely happen, and there would be a knock on effect, and part of that effect could mean flight to perceived safety on a global level,  and in this case that could actually mean funds moving out of Bitcoin. Problem comes if the markets start to wobble,  there are people covering positions, getting margin calls, and moving to safety, and often in these situations, people do not sell what they have.... they sell what they can which means that the illiquid markets are stuffed, liquid markets are not so.

I would not discount the effect of a Grexit.

I do not think it would be good for most.

I do not see BTC being used as a safe harbour, maybe gold, bonds, yen, swissy... I could see some people that are already BTC investors could give it a kick up, perhaphs, but I would not count on it.

As far as BTC goes I think it would be more to do with how much exposure BTC investors have to other markets, that they could have to scramble to cover, in reality I do not think it would be too much of a problem.

If a grexit does occur and capital controls are put into place, then after the dust starts to settle, I can imagine the argument for the use case for BTC to have strengthened on a global scale... but this is not in any particular way useful for the people of Greece now... and I do not see them using BTC en masse to evade capital controls.. they are just not set up for it imo, barring a few tech savvy Greeks.

[Torque]

But you're delusional and living in your own bubble if you think the grexit will influence btc whatsoever.

You're the one in the bubble if you think capital controls anywhere will have no effect.

Agree with this, I'm a bull, very pro bitcoin. I'll admit there is literally 0 chance of Greece adopting BTC as their national currency BUT capital controls could definitely play a part in Greek people putting some or all of their fiat savings into BTC
Remember what happened with Cyprus? I don't remember the exact figure/sum but they were going to take peoples savings/money above a certain amount to save the countries economy. It was ridiculous, if that is a threat Greek people will get into BTC ASAP.

During Cyprus it was a perfect storm. The block reward had just halved, the US FinCen released their guidance on how the US was going to treat Bitcoin and a few rich people were starting to find out about it (Winklevoss twins, Andreeson, a few others). Cyprus helped to highlight Bitcoin's utility during that time.

Hardly anybody (see almost nobody) in Cyprus actually used Bitcoin at that point.

Cyprus being the reason behind Bitcoin's rise in mid-2013 is something that the media keeps spouting to this day.  But I still don't believe it.  I believe the media loves to "engineer" reasons for things, either in hindsight or in conjunction with other events.

For example, they also said the second rally in Nov 2013 was because of a retail buying frenzy on the good news that the U.S. chose not to ban bitcoin. Complete bullshit:  the whale pumpers "pumped" the bitcoin price because they already knew that the impending news from FinCen would be good/positive.  They had insider trading info for months in advance of the news. Retail buyers had nothing to do with the "pump", in fact many of them bought either at the peak of the rally or after it had popped.

[ChartBuddy]

Coin
Explanation

[saturn643]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

[LFC_Bitcoin]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

[vanobe]

I don't know what it's going to do but I noticed big moves often happen at the end of the weekend. People probably make up their minds what to do before they have to go to work on Monday. We might get a big move one way or the other on Sunday night or early Monday morning.

Disclaimer

I might be completely wrong.

[Ezmoneyezlife]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Dude, that pump was obviously a pump and dump, people do realize it now. Shorts have been squeezed, longs stayed at the same lvl which means that none of large players has bought a damn thing. They have just squeezed shorts and now they're obviously preparing a large dump which is gonna be pretty harsh due to squeezed shorts and tons of longs. It was just a fakeout orchestrated by chinese Williebot.

[Meuh6879]

Will it go up from this price on Saturday/Sunday or down?

... bank-run or crash of the greek bank on MONDAY.

[inca]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Dude, that pump was obviously a pump and dump, people do realize it now. Shorts have been squeezed, longs stayed at the same lvl which means that none of large players has bought a damn thing. They have just squeezed shorts and now they're obviously preparing a large dump which is gonna be pretty harsh due to squeezed shorts and tons of longs. It was just a fakeout orchestrated by chinese Williebot.

You sound pretty desperate.

[ChartBuddy]

Coin
Explanation

[vanobe]

Will it go up from this price on Saturday/Sunday or down?

... bank-run or crash of the greek bank on MONDAY.

Russia might bail them out according to Yahoo news. The EU would hate that and the threat of Russia helping might force it to give Greece some more leeway.

Russia's top officials gave mixed messages over whether the country would be prepared to give financial support to Greece as Europe prepares for Greece to default on its loans.

........ Russian Deputy Prime Minister Arkady Dvorkovich who said that his country would look at the "question" of providing money in order to protect investment projects and trade.

........

Mr Tsipras said in St Petersburg that Russia was "one of the most important partners for us".
Such an alliance would alarm EU leaders, who may see it as undermining solidarity at a time when they are trying to maintain pressure on the Kremlin over the conflict in Ukraine.

https://uk.news.yahoo.com/imf-chief-no-period-grace-greece-140644486.html#iVQmgv2

[kenbytes]

looks promising  uptrend to 300. substantial move above 250 is new trend

[Natalia_AnatolioPAMM]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

I guess it will definitely go up anyway ,maybe monday even

[Fakhoury]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

I guess it will definitely go up anyway ,maybe monday even

Why "definitely" bro ?

[ssmc2]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

I guess it will definitely go up anyway ,maybe monday even

Why "definitely" bro ?

Definitely maybe

[ChartBuddy]

Coin
Explanation

[bassclef]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.

At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.

I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.

[Cconvert2G36]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

I guess it will definitely go up anyway ,maybe monday even

Why "definitely" bro ?

Definitely maybe

Price can increase sunday afternoon, or definitely decrease. It maybe even next tuesday will arise, or absolutely fall. After this rise price looks to reach 300 for sure, also looks to decrease to 220.

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[Fatman3001]

Will it go up from this price on Saturday/Sunday or down? If you look at the wider picture over the last few days it's still rising

I guess it will definitely go up anyway ,maybe monday even

Why "definitely" bro ?

Definitely maybe

Looks like bitcoiners waiting for a move.

[Fakhoury]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.

At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.

I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.

What is your speculation about next week, bassclef ?

Will we say higher prices, what do you think in general ?