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

[Hyperjacked]

Why is the hashrate dropping? Under 400 PH/s...

because the noise is driving me nuts...and decided that heating my camp with wood today would be more relaxing!

[ChartBuddy]

Coin

Explanation

[mm5aes]

Why is the hashrate dropping? Under 400 PH/s...

Erm? You tried refreshing you're screen?



Bitcoin Difficulty:   62,253,982,450
Estimated Next Difficulty:   65,484,040,661 (+5.19%)
Adjust time:   After 423 Blocks, About 2.8 days
Hashrate(?):   458,547,732 GH/s

(https://bitcoinwisdom.com/bitcoin/difficulty)

Confused I am......

[Fatman3001]

Why is the hashrate dropping? Under 400 PH/s...

Erm? You tried refreshing you're screen?



Bitcoin Difficulty:   62,253,982,450
Estimated Next Difficulty:   65,484,040,661 (+5.19%)
Adjust time:   After 423 Blocks, About 2.8 days
Hashrate(?):   458,547,732 GH/s

(https://bitcoinwisdom.com/bitcoin/difficulty)

Confused I am......

There was a dip a little while ago.



But it doesn't seem to be anything out of the ordinary.

[peonminer]

[adamstgBit]

good morning bitcoin land.

I was expecting waking up to some big move, so i am kinda disappointed....

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

no matter, THE PLUNGE is coming!

[Fatman3001]

good morning bitcoin land.

I was expecting waking up to some big move, so i am kinda disappointed....

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

no matter, THE PLUNGE is coming!

That's comforting.

[peonminer]

Bitcoin hath honeydicked us all.

[mm5aes]

good morning bitcoin land.

I was expecting waking up to some big move, so i am kinda disappointed....

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

no matter, THE PLUNGE is coming!

Enjoy you're ablutions. Why not have a dump while you're there?    

Sub $350 by tea....

[adamstgBit]

good morning bitcoin land.

I was expecting waking up to some big move, so i am kinda disappointed....

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

no matter, THE PLUNGE is coming!

Enjoy you're ablutions. Why not have a dump while you're there?    

Sub $350 by tea....

meh not worth the risk.

everyone else will dump for me after tea time.

[peonminer]

headed back to $315?

[Hyperjacked]

good morning bitcoin land.

I was expecting waking up to some big move, so i am kinda disappointed....

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

no matter, THE PLUNGE is coming!

Sounds like a great idea...But let's be real!

Don't you think the same traders that played it hope it drops...

They play all sides and have strong hands!

[r0ach]

remarkable how the coins were bought at the first sign of a dump and then price promptly went back >380.

Just a normal day of Bitstamp trying to manipulate the price downwards like every other day for the last several years.  Looks like they can't do it anymore though.

[oda.krell]

That chart analysis talks about leveraged shorting as the reason why this recent rally didn't go up to $1200 and why it's going down from here.  Do we not also have leveraged long trades now too lol?  I'm not understanding this point at all.

With leveraged trading, anyone can go long and anyone can go short. Prior to leveraged trading, anyone could "go long" because going long meant exchanging fiat for bitcoin, and 100% of traders have fiat. Conversely, going short meant selling bitcoin for fiat, and the percentage of traders with bitcoin was way less than 100%. If you did not hold any bitcoin and you wanted to short it, then you'd have to buy some first before you could dump it on the market. Make sense?

EDIT: The creation of leveraged trading was therefore necessarily bearish for bitcoin. I wish I had understood that two years ago lol ...

You would have a point if the currently available leverage would be 1:1 in either direction, but that's not the case.

During the pre-leverage era, "long" meant 1:1 (i.e. non leveraged buying and selling), and a symmetric operation i.e. "shorting" was simply impossible (on the dominant exchange, that is). Today, the market offers 20:1 leverage in either directions (futures on OKC, iirc), i.e. from 1:1 to 20:1 for longs, and from na to 20:1 for shorts.

That's a lot less 'bearish' impact than the change you seem to describe, where longs stayed the same, and only shorts went from nothing to 1:1.

[BTCtrader71]

That chart analysis talks about leveraged shorting as the reason why this recent rally didn't go up to $1200 and why it's going down from here.  Do we not also have leveraged long trades now too lol?  I'm not understanding this point at all.

With leveraged trading, anyone can go long and anyone can go short. Prior to leveraged trading, anyone could "go long" because going long meant exchanging fiat for bitcoin, and 100% of traders have fiat. Conversely, going short meant selling bitcoin for fiat, and the percentage of traders with bitcoin was way less than 100%. If you did not hold any bitcoin and you wanted to short it, then you'd have to buy some first before you could dump it on the market. Make sense?

EDIT: The creation of leveraged trading was therefore necessarily bearish for bitcoin. I wish I had understood that two years ago lol ...

You would have a point if the currently available leverage would be 1:1 in either direction, but that's not the case.

During the pre-leverage era, "long" meant 1:1 (i.e. non leveraged buying and selling), and a symmetric operation i.e. "shorting" was simply impossible (on the dominant exchange, that is). Today, the market offers 20:1 leverage in either directions (futures on OKC, iirc), i.e. from 1:1 to 20:1 for longs, and from na to 20:1 for shorts.

That's a lot less 'bearish' impact than the change you seem to describe, where longs stayed the same, and only shorts went from nothing to 1:1.

Going from long:possible;shorting:impossible to long:possible;short:possible is a big deal regardless of the various limits ... right?

[Fatman3001]

That chart analysis talks about leveraged shorting as the reason why this recent rally didn't go up to $1200 and why it's going down from here.  Do we not also have leveraged long trades now too lol?  I'm not understanding this point at all.

With leveraged trading, anyone can go long and anyone can go short. Prior to leveraged trading, anyone could "go long" because going long meant exchanging fiat for bitcoin, and 100% of traders have fiat. Conversely, going short meant selling bitcoin for fiat, and the percentage of traders with bitcoin was way less than 100%. If you did not hold any bitcoin and you wanted to short it, then you'd have to buy some first before you could dump it on the market. Make sense?

EDIT: The creation of leveraged trading was therefore necessarily bearish for bitcoin. I wish I had understood that two years ago lol ...

You would have a point if the currently available leverage would be 1:1 in either direction, but that's not the case.

During the pre-leverage era, "long" meant 1:1 (i.e. non leveraged buying and selling), and a symmetric operation i.e. "shorting" was simply impossible (on the dominant exchange, that is). Today, the market offers 20:1 leverage in either directions (futures on OKC, iirc), i.e. from 1:1 to 20:1 for longs, and from na to 20:1 for shorts.

That's a lot less 'bearish' impact than the change you seem to describe, where longs stayed the same, and only shorts went from nothing to 1:1.

I think the very fact that there is shorting at all is more significant than just being one more number on the road to 20x leverage. On the other hand, with easily available shorting opportunities buyers should be confident that the price reflects genuine interest at least.

[TReano]

also the volume on Bitfinex should indicate the 500$ as the top of this parabolic rally. I guess we will just make lower highs and lower lows every time bull try to push it up for next couple weeks/months

therefor I expect a bearish slide from here on until we create a new bottom

[ChartBuddy]

Coin

Explanation

[makeacake]

^No need to rub it in, ChartBuddy. They know what they've done

[MatTheCat]

^No need to rub it in, ChartBuddy. They know what they've done

pfft..big scary walls around the spot price at 'critical points' are more often than not, erected to be devoured, no doubt by the very same people who put them there to begin with....

....Just watch.