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

[galdur]

[aminorex]

Gold is less transportable than dollars and is losing value relative to dollars. Transportability matters. Transaction capacity matters.  

Gold became a reserve currency for that reason.  Silver was ever the dominant transaction currency for the opposite reason.

nope, it's https://en.wikipedia.org/wiki/Gresham%27s_law bad money driving out good. Bimetallism was not two currencies competing. It was price control. Now silver is better thangold  for microtransactions, because it is easier to transact in small values, but that is not an issue when a unit is divisible by 100,000,000. 

The dominance of silver in retail commerce long predates any exchange-rate fixing, or standardized currency subject to debasement. Of course its only fair, in the ancient world context, to restrict the discussion of this factor to locales in which both metals were available in roughly the same proportions as the global mean.

[ghandi]

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Explanation

Whats the new BTH-Bar telling us?

[ChartBuddy]

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Explanation

[Richy_T]

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Explanation

Whats the new BTH-Bar telling us?

Blocks-to-halvening.

[Tzupy]

2h PSAR flipped to bearish on BTCChina and Bitfinex.

[pleaseexplainagain]

Getting nervous yet bears?  

we bears are not nervous in fact I am surprised the price has come down to the mid 300s so fast - i thought it might take a 2-4 weeks.
if you look at an alltime chart that shows the willybot high it took about 12 months to hit its bottom at about $250 (about a 75% drop).

So while I think the rate of the decrease will slow we will be low $2xx within 3 months.

Thats not just bearish but also realistic

[peonminer]

Getting nervous yet bears?  

we bears are not nervous in fact I am surprised the price has come down to the mid 300s so fast - i thought it might take a 2-4 weeks.
if you look at an alltime chart that shows the willybot high it took about 12 months to hit its bottom at about $250 (about a 75% drop).

So while I think the rate of the decrease will slow we will be low $2xx within 3 months.

Thats not just bearish but also realistic

Ouch. Truth hurts lol.

fyp

choose the correct gif!

You guys crack me up

[klondike_bar]

Getting nervous yet bears?  

we bears are not nervous in fact I am surprised the price has come down to the mid 300s so fast - i thought it might take a 2-4 weeks.
if you look at an alltime chart that shows the willybot high it took about 12 months to hit its bottom at about $250 (about a 75% drop).

So while I think the rate of the decrease will slow we will be low $2xx within 3 months.

Thats not just bearish but also realistic

That was a bubble with 10x price movement that took about a month to cover most of the volatility.
This time was just a 2x price movement that took about a week to occur in earnest.

I think its safe to say that it bottomed just under $300, and will probably stabilize in the $320-$360 range over the next 2 week. Its obvious theres a lot of support at $300, and moderately around $320 (july peak)

fundamentally, there is no reason for bitcoin to fall below $250 after the way it broke the 2015 price trend, and signifigant evidence for it to be much higher than it was in mid-2013 (waay more venture investment, more legitimacy, more uses, better security and storage methods like trezor or multisig, and insanely higher hashrate. I honestly believe the price should be in the $400-800 range, but its more likely that volatility will send us much higher if the bullish long-term indicators continue

[Jacksp]

Coin



Explanation

Whats the new BTH-Bar telling us?

DoHype

[Frost]

I prefer volatility...so what are we waiting for? Lets just move the price in any direction. 

[JorgeStolfi]

That's how fiat money works -- it doesn't matter what the coin is made out of, USD isn't backed by copper. That said, the penny is one coin that actually costs more to make than its face value. It's not made out of zinc because can't afford copper.

Most people (other than batshit crazy brokeass goldbugs who can't afford gold) couldn't care less about what pennies are made of.

Actually, copper-clad zinc pennies are better than all-copper ones.  If you try to melt one with a propane torch, well before the skin melts (m.p. 1357 C) the zinc will boil off (b.p. 907) and then burn with a bright flame and dense white smoke.   That's fun.

Steel euro cents?  That sounds quite boring.

[Fatman3001]

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Explanation

Whats the new BTH-Bar telling us?

Blocks-to-halvening.

You're a genius.

[ssmc2]

2h PSAR flipped to bearish on BTCChina and Bitfinex.

Seems to be an unreliable indicator

[LFC_Bitcoin]

334 USD , we're going up!

Good morning China!

[ChartBuddy]

Coin



Explanation

[Tzupy]

2h PSAR flipped to bearish on BTCChina and Bitfinex.

Seems to be an unreliable indicator

In this case, it was misleading... Oh shit...

[Cconvert2G36]

2h PSAR flipped to bearish on BTCChina and Bitfinex.

Seems to be an unreliable indicator

In this case, it was misleading... Oh shit...

Your short term technical indicators have no power here. 

[DanDan]

2h PSAR flipped to bearish on BTCChina and Bitfinex.

Seems to be an unreliable indicator

In this case, it was misleading... Oh shit...

Your short term technical indicators have no power here.  

Kinda expected from a member who has bear avatar.

Nice to be back in over 330 again.

[ssmc2]