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

[tarmi]

chinese devaluation of yuan is already priced in.

no choo choo for you bulls, unless you are on mETH.

[wutizurkwest]

I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?

We're bound to see some profit-taking, but I think it will pick up again.  Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts?  Below 1h it looks like a line but it's still there.  There's the occasional deviation above and below but take those away and the data almost fits a simple growth model.  With a little imagination the curve even extends back before the dip in August, if you look at the 12h.  I don't know what to make of it.  Opinions?

I've been watching the 12 hour chart the past few weeks.

It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.

*Actually, this might be even sexier, because it's just so methodical and relentless.

**btw, is tarmi still short?

That's why I come here...all the wonderful people saying exactly what I want to hear.

If this is the next bubble forming, judging from the log charts, we could hit $1000 again by Xmas.  

That's what I want.  You hear me Santa?!?  I've been good this year, dammit.

[chennan]

I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?

We're bound to see some profit-taking, but I think it will pick up again.  Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts?  Below 1h it looks like a line but it's still there.  There's the occasional deviation above and below but take those away and the data almost fits a simple growth model.  With a little imagination the curve even extends back before the dip in August, if you look at the 12h.  I don't know what to make of it.  Opinions?

I've been watching the 12 hour chart the past few weeks.

It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.

*Actually, this might be even sexier, because it's just so methodical and relentless.

**btw, is tarmi still short?

That's why I come here...all the wonderful people saying exactly what I want to hear.

If this is the next bubble forming, judging from the log charts, we could hit $1000 again by Xmas. 

That's what I want.  You hear me Santa?!?  I've been good this year, dammit.

Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.

[solid12345]

Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.

Well it's sort of hard to apply traditional economic theory to something never before seen in history. That being said no one complained that the US Dollar ballooned in value too quickly after WW2, if something has value in the free market it will realize its true price faster than you think.

[ChartBuddy]

Coin

Explanation

[shmadz]

That's why I come here...all the wonderful people saying exactly what I want to hear.

Aww, you're so kind.

I missed you too lambsie!

[wutizurkwest]

Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.

Well it's sort of hard to apply traditional economic theory to something never before seen in history. That being said no one complained that the US Dollar ballooned in value too quickly after WW2, if something has value in the free market it will realize its true price faster than you think.

You nailed it.  We've been in a bear market for what, 20 months?  I'm inclined to think it's undervalued and we're due for a significant market correction.  And that's if nothing outside the Bitcoin ecosystem changes...any number of things will skyrocket the price past $10k.  Some of those are so likely it's not a question of if, but when.

[wutizurkwest]

That's why I come here...all the wonderful people saying exactly what I want to hear.

Aww, you're so kind.

I missed you too lambsie!

Sorry, not lambsie.  I seem to recall him/her, but it's been a year since I last lurked here.

Wait, wasn't there something about a sacrificial lamb a few pages back?

[dropt]

chinese devaluation of yuan is already priced in.

no choo choo for you bulls, unless you are on mETH.

Says the guy who's underwater on the bulk of his shorts.

Assuming you actually trade the way you talk, which I highly doubt.

[ChartBuddy]

Coin

Explanation

[Dilla]

chinese devaluation of yuan is already priced in.

no choo choo for you bulls, unless you are on mETH.

Please explain?
How can you price in an undetermined amount of money adding to the market cap?

[Cconvert2G36]

chinese devaluation of yuan is already priced in.

no choo choo for you bulls, unless you are on mETH.

Please explain?
How can you price in an undetermined amount of money adding to the market cap?

http://www.bloomberg.com/news/articles/2015-10-25/yuan-bears-forecasting-devaluation-test-offshore-market-nerves

As the price of yuan vs USD changes, so must the relative price in BTC.

[JayJuanGee]

I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?

We're bound to see some profit-taking, but I think it will pick up again.  Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts?  Below 1h it looks like a line but it's still there.  There's the occasional deviation above and below but take those away and the data almost fits a simple growth model.  With a little imagination the curve even extends back before the dip in August, if you look at the 12h.  I don't know what to make of it.  Opinions?

I've been watching the 12 hour chart the past few weeks.

It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.

*Actually, this might be even sexier, because it's just so methodical and relentless.

**btw, is tarmi still short?

That's why I come here...all the wonderful people saying exactly what I want to hear.

If this is the next bubble forming, judging from the log charts, we could hit $1000 again by Xmas. 

That's what I want.  You hear me Santa?!?  I've been good this year, dammit.

Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.

It seems to be inevitable that bitcoin is going to suffer some more of these bubble periods because it is just too small at the moment.  Quasi-currency status is much further into the future, and likely going to need a market cap in the $100Billion plus categories, and even that kind of $100 Billion plus is really small potatoes in the whole scheme of things.  So whether some posters are wishing for a bubble or NOT one two or three more bubbles seem likely to be in the cards for the next approximately 5-10 years of bitcoin.

[ChartBuddy]

Coin

Explanation

[JayJuanGee]

That's why I come here...all the wonderful people saying exactly what I want to hear.

Aww, you're so kind.

I missed you too lambsie!

That guy is NOT lambsie.

hahahahaha   NOT every newbie poster is lambsie.  fuck.  

[LFC_Bitcoin]

It seems to be inevitable that bitcoin is going to suffer some more of these bubble periods because it is just too small at the moment.  Quasi-currency status is much further into the future, and likely going to need a market cap in the $100Billion plus categories, and even that kind of $100 Billion plus is really small potatoes in the whole scheme of things.  So whether some posters are wishing for a bubble or NOT one two or three more bubbles seem likely to be in the cards for the next approximately 5-10 years of bitcoin.

Bitcoin is still in its infancy & we'll probably have to wait 10 + years for it to be where we want it to be. I certainly have no problem with us experiencing a few more bubbles on the way to 'the moon'.

Surely nobody has any issues with profiting handsomely from a few bubbles on the way to mainstream adoption?

[Cconvert2G36]

You have to admit there's an air of economic darwinism about it.

The government sanctioned versions are licensed and taxed casinos and (often directly state run) lotteries. Games of chance with a built in tendency for the customer to lose, often immediately.

[noobtrader]

chinese devaluation of yuan is already priced in.

no choo choo for you bulls, unless you are on mETH.

Says the guy who's underwater on the bulk of his shorts.

Assuming you actually trade the way you talk, which I highly doubt.

no way he can short and profit at this trend... price just drop 10 usd for few hours then rebound back

[ChartBuddy]

Coin

Explanation

[Fatman3001]

Ok, I'm back.

Let the rally continue!