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

[toknormal]

I'm starting to get nervous now to be honest. I'm sitting on coins wondering when to get out. I don't want to miss the top & end up seeing a big dump.

Eh ? Wot yoo tokin about ?



Cos once your out of bitcoin, yo in fiat. Quicksand.

[nioc]

Bitcoin Soars Above $700 As Chinese Buying Shows No Signs Of Slowing 

http://www.zerohedge.com/news/2016-06-13/bitcoin-soars-above-700-chinese-buying-shows-no-signs-slowing

I still don't get why the Chinese are very involved. Can anyone explain like I'm five?

You will understand when you grow up.

Oh that's mean 

I always thought so as a kid.

I never told my daughter that.

[nioc]

In other news I just requested a btc payment from an account that is denominated in fiat and scheduled to be processed on Wednesday.

I wonder what the price will be when it is processed.

[Paashaas]

Andreessen Horowitz’s Recent $1.5B Round Could Be Big for Bitcoin.

Uh what, do i read that correctly? $1.5B

https://news.bitcoin.com/horowitz-capital-big-things-bitcoin/

[nioc]

Andreessen Horowitz’s Recent $1.5B Round Could Be Big for Bitcoin.

Uh what, do i read that correctly? $1.5B

https://news.bitcoin.com/horowitz-capital-big-things-bitcoin/

Well they are just reporting from here.

http://fortune.com/2016/06/10/andreessen-horowitz-new-fund/

Looks like some of the money will go somewhere.

[Bavaria]

Are we making a little pause before making another leg up? 

[JimboToronto]

Are we making a little pause before making another leg up? 

Probably. The question is for how long.

[becoin]

Cos once your out of bitcoin, yo in fiat. Quicksand.

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

[julian071]

LTC/USD is down. In the days of old, BTC and LTC rates would be inverse. Now, it seems to me LTC seems somewhat of a predictor for the BTC rate.  Is that just me or have other people noticed the same?

[conspirosphere.tk]

LTC/USD is down. In the days of old, BTC and LTC rates would be inverse. Now, it seems to me LTC seems somewhat of a predictor for the BTC rate.  Is that just me or have other people noticed the same?

Yes. I suppose it's because LTC helps to play in arbitration.

[LFC_Bitcoin]

Bear Trap, hold on 

It looks that way, hope they opened lots of soon to be burned shorts.

[pinger]

LTC/USD is down. In the days of old, BTC and LTC rates would be inverse. Now, it seems to me LTC seems somewhat of a predictor for the BTC rate.  Is that just me or have other people noticed the same?

Yes. I suppose it's because LTC helps to play in arbitration.

Is the way to stay out of Bitcoin not in Fiat. LTC was very stable over the last months.

[pandalion98]

Bitcoin Soars Above $700 As Chinese Buying Shows No Signs Of Slowing 

http://www.zerohedge.com/news/2016-06-13/bitcoin-soars-above-700-chinese-buying-shows-no-signs-slowing

I still don't get why the Chinese are very involved. Can anyone explain like I'm five?

1. Chinese people are very many. 1.3 billion people. It's like 4 USA.
2. The growth in China in the last 10 years created many rich people
3. China has very strict capital controls which means that people cannot easily convert their YUANs to other currencies or transfer their money in other countries
4. Chinese can transfer Yuans within China to buy Bitcoin with Chinese exchange.
5. Bitcoin is becoming a fashionable investment instrument in China

I like point 1, but the rest really cleared it up for me. Thanks for that

[toknormal]

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

I'd say the dumb money is in gold. If you want to be standing with your pants around your ankles in ten years time then invest in gold.

Here's the problem:

Over the last few millennia, gold gained value due to its monetary properties more than anything. In particular, those of limited supply, fungibility and mobility because coins could be transported anywhere in the age of physical markets and exchanged directly - peer to peer - just as bitcoin is.

However this is no longer possible. Gold has lost this, most important of monetary properties since during the last half century the bulk of the world's trade has moved from a physical to an electronic platform. This means that you no longer transfer ownership and possession of gold in the same trade and so consequently the gold market has forked into 2 distinct monetary media: a physical one and a (so called) "paper" one where ownership is transferred but posession cannot be taken. The problem with the paper market is that it is not a fixed supply, so bang goes the second of gold's great monetary properties.

Gold traders can choose which of these two media they prefer to trade - you can have either mobility or possession but you can't have both.

Because of this "forking" of the market, gold will never again command the kind of values or be able to support the same kind of "safe haven" investment that it did during the last few centuries. It is handicapped permanently and pegged at a value which represents the balance of demand between the physical and paper markets.

Cryptocurrencies, on the other hand, remedy the problem since they are the perfect "bearer instrument". One with which you can take both ownership and possession in the same trade and for that reason are likely to outperform precious metals by several orders of magnitude over the next few years.

[Karartma1]

Cos once your out of bitcoin, yo in fiat. Quicksand.

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

I did it. I opened a gold position with some btc a 700$/btc. It's good to diversify in times of uncertainty. I used vaultoro to do that which i found useful.

In case bitcoin goes down I can reverse everything and get more bitcoin.  

[Rampion]

mark toknormal's post - he is speaking the truth.

amen brother - if bitcoin survives a few years more there will be a whole generation for which bitcoin is simply better than gold - full stop.

[JayJuanGee]

I bought another coin at 698$ pretty confident we are going up. and up. and up

I was losing hope last summer, but this year I'm starting to get more confident we are going up. and up. and up. Last summer the best move was to dump when it hit 300 and wait to buy back in lower. This summer each time I expect a retrace it doesn't happen, the price just keeps going up. The best move this summer might be to hold and buy more if you get your hands on some fiat.

there is alot of talk of up and up. it sure is going up and will go up alot more - maybe a new ATH. But it will crash. Are people forgetting that the "harvening" simply means 1800 less bitcoins (potentially) coming onto the market each day.

there were lots to buy before and there will be lots to buy afterwards. So its just a pump around a low key event.

At best I see $400-$450ish within 2 months of the day we "harve". As that is where we are really at. At worst it will be 25% of its high point.

Ensure you are not borrowing to buy bitcoins as then it will really hurt.

The logic above is nearly total nonsense.


The current price movement is not merely in respect to havening, but a variety of factors including bitcoin's development and clearing up of various FUCD spreading matters in the community with the realization that much of the FUCD spreading was nonsense.  Furthermore Bitcoin's price had been successfully repressed for nearly a year, so there was a need to return prices upwards, and this is the return of those prices.

Regarding the havening, you are suggesting that havening is a bearish event with some kind of implied logic that miners are going to have less incentive to mine, and this kind of logic is frequently passed around loudly and forcefully, as if the  more you repeat a lie it will become true.... In fact the havening is bullish, and it plays out over time rather than being a pump event, as you are stupidly asserting in your post.

[JayJuanGee]

This is looking like the start of a new bull run.
2500 USD by September.

Well, the bull market started in August 2015, but probably we did not know it until about December after we had some corrective attempts... then such bull market was stalled by various FUCD spreading attempts.

It's not clear that it is going to take until September to experience an upsurge to $2500 or higher.

We have to see how this plays out in the $600 to $700 territory.

Actually, when we broke through $500, I thought that we would get to mid-$600s more quickly, but it kind of took its time
and then kind of only got a bit out of control over the past weekend from $580 to $725.  O.k... this price range could be reigned in, but if we get well into the $800s on this run, then it could well transform into an exponential growth to $3k to $5k within the 1 to 4 weeks... or some other variant that is much sooner than September.

I doubt that anyone really knows for sure, even some of the big-ass whales, and accordingly, we have to really see how this plays out, and whether we are going to have a price battle in the $600s and $700s or if there remain fewer sellers than buys, which will cause BBBBBAAAAAMMM!!!   

[AZwarel]

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

I'd say the dumb money is in gold. If you want to be standing with your pants around your ankles in ten years time then invest in gold.

Here's the problem:

Over the last few millennia, gold gained value due to its monetary properties more than anything. In particular, those of limited supply, fungibility and mobility because coins could be transported anywhere in the age of physical markets and exchanged directly - peer to peer - just as bitcoin is.

However this is no longer possible. Gold has lost this, most important of monetary properties since during the last half century the bulk of the world's trade has moved from a physical to an electronic platform. This means that you no longer transfer ownership and possession of gold in the same trade and so consequently the gold market has forked into 2 distinct monetary media: a physical one and a (so called) "paper" one where ownership is transferred but posession cannot be taken. The problem with the paper market is that it is not a fixed supply, so bang goes the second of gold's great monetary properties.

Gold traders can choose which of these two media they prefer to trade - you can have either mobility or possession but you can't have both.

Because of this "forking" of the market, gold will never again command the kind of values or be able to support the same kind of "safe haven" investment that it did during the last few centuries. It is handicapped permanently and pegged at a value which represents the balance of demand between the physical and paper markets.

Cryptocurrencies, on the other hand, remedy the problem since they are the perfect "bearer instrument". One with which you can take both ownership and possession in the same trade and for that reason are likely to outperform precious metals by several orders of magnitude over the next few years.

Nice summing it up. Also, gold as a possession has it's problems, like, it is physical, unlike bitcoin, which is basically pure information. And as we know, anything physical can be taken away. Easily https://en.wikipedia.org/wiki/Executive_Order_6102.

[Spaceman_Spiff]

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

I'd say the dumb money is in gold. If you want to be standing with your pants around your ankles in ten years time then invest in gold.

Here's the problem:

Over the last few millennia, gold gained value due to its monetary properties more than anything. In particular, those of limited supply, fungibility and mobility because coins could be transported anywhere in the age of physical markets and exchanged directly - peer to peer - just as bitcoin is.

Gold traders can choose which of these two media they prefer to trade - you can have either mobility or possession but you can't have both.

Because of this "forking" of the market, gold will never again command the kind of values or be able to support the same kind of "safe haven" investment that it did during the last few centuries. It is handicapped permanently and pegged at a value which represents the balance of demand between the physical and paper markets.

Cryptocurrencies, on the other hand, remedy the problem since they are the perfect "bearer instrument". One with which you can take both ownership and possession in the same trade and for that reason are likely to outperform precious metals by several orders of magnitude over the next few years.

Agreed, I still have a bit of gold from before, but I don't expect much from it (I even expect it to devalue quite a bit in purchasing power), it's just a monetary hedge for the case crypto should fail for some reason, a situation I am considering to be less and less likely.