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

[Fatman3001]

the whole USD swap offer market on bfx is is sitting at 200 k $.

 




we are in red supergiant stage.

I repeat: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe (Inventor of Ethernet), 1995

Could you please elaborate more about that quote, Fatman ?

? ? ?

... it didn't.

[ChartBuddy]

Coin
Explanation

[Fakhoury]

the whole USD swap offer market on bfx is is sitting at 200 k $.

 




we are in red supergiant stage.

I repeat: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe (Inventor of Ethernet), 1995

Could you please elaborate more about that quote, Fatman ?

? ? ?

... it didn't.

it didn't what , I want to understand it man

[JorgeStolfi]

♫ ♬Somewhere on that event horizon
Out beyond the neon lights
I know there must be somethin' better ♫ ♬

https://www.youtube.com/watch?v=buqtdpuZxvk

[empowering]

the whole USD swap offer market on bfx is is sitting at 200 k $.

 




we are in red supergiant stage.

I repeat: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe (Inventor of Ethernet), 1995

Could you please elaborate more about that quote, Fatman ?

? ? ?

... it didn't.

it didn't what , I want to understand it man

It is pretty straight forward .....


Do you know who Robert Metcalfe is? if not look him up... quite the guy....and quite the guy that got this particular prediction , spectacularly wrong... and to think many , myself included knew that his prediction was totally totally off.

The internet is still here right?


Case solved.

Moriarty you can go home, you are not needed here.

(ps, if anyone should have not got this prediction so wrong.... you could argue it was Metcalfe...  but nevertheless he was wrong...  I wonder what clouded his vision?)

[AceWallen]

hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then?

[Natalia_AnatolioPAMM]

the whole USD swap offer market on bfx is is sitting at 200 k $.

 




we are in red supergiant stage.

I repeat: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe (Inventor of Ethernet), 1995

Could you please elaborate more about that quote, Fatman ?

? ? ?

... it didn't.

it didn't what , I want to understand it man

How are you and I communicating?

Did you buy that account by any chance?

ahahah that's funny

[magicmexican]

hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then?

Afraid its wishful thinking. Seems like pump ran out of steam and we are just in the middle of a small bulltrap, expecting another pull down to 220$ or lower.

[Fakhoury]

the whole USD swap offer market on bfx is is sitting at 200 k $.

 




we are in red supergiant stage.

I repeat: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." - Robert Metcalfe (Inventor of Ethernet), 1995

Could you please elaborate more about that quote, Fatman ?

? ? ?

... it didn't.

it didn't what , I want to understand it man

How are you and I communicating?

Did you buy that account by any chance?

ahahah that's funny

Fatman doesn't understand that I really want to understand the quote really I'm not stupid man

[ChartBuddy]

Coin
Explanation

[TaurusBit]

https://twitter.com/KimDotcom/status/612360452958351360

[ChartBuddy]

Coin
Explanation

[ejinte]

hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then?

We might have, I would prefer sideways from here for some time.

[LFC_Bitcoin]

hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then?

Afraid its wishful thinking. Seems like pump ran out of steam and we are just in the middle of a small bulltrap, expecting another pull down to 220$ or lower.

Wishful thinking, we'll probably go sideways now, manipulators were testing the market after & long period of sideways. People have dumped on small profits, I now expect another period of sideways for at least a week.
I could be wrong but I don't expect a fall back to the 220's, if there's any kind of move in the short term it'll be up.

[empowering]

https://twitter.com/KimDotcom/status/612360452958351360

Possability of contagion and capital flight to perceived safety.

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.

http://www.telegraph.co.uk/finance/11680077/Bank-of-Greece-issues-grave-warning-of-Grexit-as-British-government-prepares-for-fallout-live.html


(four months are almost up lets see if we get another last minute reprieve, or a giant kick into the collective balls....)

<putsontinfoilhat>  Maybe they are going to use the next four months (or do I mean days?) to prepare for a soft grexit, rather than dealing with a hard grexit sooner. Or maybe they are just trying to figure out how to phrase the word "default" so it sounds more like "perpetual bond"

<leavestinfoilhatonbecausesinceputtinghatonhavebecomeconvincedthattheNSAarereadi ngmythoughts>

Forgive my ignorance but what does Greece have to do with the price of BTC?

Directly... at this point in time.... very little.

Indirectly... a lot.


I am not sat here with my cock in hand hoping for a financial crash in hopes of escaping capital outflows benefiting BTC, because well at this point in time I do not see it happening.

However, there is an increasing possibility no matter how the current situation pans out, that we may see capital controls put in place (not just in greece either) due to the situation in Greece.  there is a perfect storm scenario where the Greece leaves the union, and the ECB declare they will not provide temporary liquidity to cover the capital flight from greece.  In fact there is the scenario where even if it does not go that far, the billions of euros a week that are currently leaving the greek banking system, continues and accelerates, even without a grexit. Basically capital controls could be put in place, and directly at this point in time, the effect for BTC will be very little.. but, it will be yet another exhibition of capital controls, and even if the greeks are not thinking about it, others will be.

So if the Swiss unpeg was the first canary in the mine.... perhaps Greece is our second canary..

Plus also BTC does not operate in a vacuum anymore than Greece or Europe does...  as I said earlier if Greece leaves it is relevant to most, and certainly to anything to do with the economy/investments etc. I have posted on here in the past about my view of how BTC may be impacted by a (medium sized) financial crisis.

We are going to find out if the political will is stronger than the financial reality.

If this does go down..

There will be shockwaves.


(remember people do not sell what they have.... they sell what they can)

[macsga]

^^
Well, maybe Kimdotcom has a point. If Greece leaves the Eurozone (note: It's complex, because nobody had the foresight to predict a country exit) what do you think will happen to the USD/EUR? Safe havens were always PM and (recently) BTC and cryptocurrencies. AFAIC the prediction of what will actually happen, take my word for it: NOTHING! Everything will be as it was yesterday and the day before. Another (short) time period will be assigned to the Greeks in order to deal with their debt, the debt will grow larger and ELA will keep covering the banks, IMF will pull another rabbit off the hat and everything will go as planned.

TBH: I don't think that ANY SINGLE OFFICIAL has the balls to take such a decision, solely, or collectively. Personally, I want to be proved wrong. But I won't.

[inca]

hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then?

Afraid its wishful thinking. Seems like pump ran out of steam and we are just in the middle of a small bulltrap, expecting another pull down to 220$ or lower.

Wishful thinking, we'll probably go sideways now, manipulators were testing the market after & long period of sideways. People have dumped on small profits, I now expect another period of sideways for at least a week.
I could be wrong but I don't expect a fall back to the 220's, if there's any kind of move in the short term it'll be up.

Several scenarios are possible. Borrowed longs are historically high which could mean either a large move upwards is coming or that a massive long squeeze attempt may occur. Similarly someone has shorted 5k contracts over the last 24 hours and they could be forced to cover for just a small amount of buying. Another theory is that the manipulator is actually shorting after wiping out the shorts during the pump and will flip the orderbook to the ask side and dump us back to 200-220 support.

My personal view is that the whales who own the huge long position are accumulating it expecting the price to soar at some point fairly soon. The technicals are much healthier with that recent 259 peak. Hopefully we retest the log downtrend line and best it this time around.

[keithers]

The LTC/BTC pairing has seemed stronger today than it has in a bit.   I converted some LTC back into BTC today.   Tried out that shapeshift app from app store...worked super easy

[1FfmbHfnpaZjKFvyi1okTjJJu]

    price in 2 weeks
>300    - 98 (46%)
280    - 23 (10.8%)
260    - 23 (10.8%)
240    - 17 (8%)
220    - 22 (10.3%)
<200    - 30 (14.1%)
   
Total Voters: 213


Nice to see more people prediction to up i will keep hodl my Bitcoin

[empowering]

^^
Well, maybe Kimdotcom has a point. If Greece leaves the Eurozone (note: It's complex, because nobody had the foresight to predict a country exit) what do you think will happen to the USD/EUR? Safe havens were always PM and (recently) BTC and cryptocurrencies. AFAIC the prediction of what will actually happen, take my word for it: NOTHING! Everything will be as it was yesterday and the day before. Another (short) time period will be assigned to the Greeks in order to deal with their debt, the debt will grow larger and ELA will keep covering the banks, IMF will pull another rabbit off the hat and everything will go as planned.

TBH: I don't think that ANY SINGLE OFFICIAL has the balls to take such a decision, solely, or collectively. Personally, I want to be proved wrong. But I won't.

Safe havens in past have been US t bonds and  a few others, the swissy, the yen, PM's (though PM's got battered in 08) BTC has never been a safe haven.

The entire reason Greece has not already been allowed to default, and infact half of the Eurozone, is exactly because it is a political decision to keep the zone together.  That could change, personally I think the tptb have been heavily invested in keeping the union together... but yes it could change, the northern countries are rather unhappy with the status quo.

Personally I think the Eurozone as we know it is destined to fail (since its inception), at least in its current guise, it is more a matter of when, than if...that does not mean the time is now... but.... we will see (I mean we will see if Grexit is the start of it, I do not see the Eurozone imploding right now)

Like I said it will come down to which is stonger, the political will, or the financial reality.