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

[Ted E. Bare]

This bitcoin thing is bananas.

[adamstgBit]

$32,000 feels like a good number but I was thinking $100,000, < 2 years. We're entering a super bubble and it could take us 100x from 2013 high.

100,000$ is to much.
32,000$ is just right.

maybe there will be NO bubble...
maybe all we will have is a price correction to 3000$
sounds crazy, a 10X incress from bottom as a "correction".
I believe 3000$ is sustainable... its really not that hard to imagine bitcoin with a 50billion dollar market cap, poeple who disagree with this dont have any coins at this point, the only poeple left to supply coins below 3000$ are poeple who see a 20% rise and assume it needs a correction... they dont get that the price rise itself is the correction.

[chesthing]

Gold goes up 5% in the time bitcoin goes up 50%. What does that tell you?

[Riddikulo]

What is going on? This went mad so fast i can´t even believe it.

[TERA]

[Riddikulo]

So no buy wall supports?

[TERA]

So no buy wall supports?

I'm more impressed with the 20k of sells that suddenly popped up than the 5k reduction in buy depth.

[adamstgBit]

Gold goes up 5% in the time bitcoin goes up 50%. What does that tell you?

the most interesting part is the fact that bitcoin rallied 50% with an order of magnitude less capital then what it took to drive gold up 5%

gold going up is a warning of possible economic crisis looming ( the brexit is causing some FUD? ), but its a well established market with a HUGE cap, it won't have much trouble accommodating the capital that will flow into it should a flight to safety scenario unfold.

bitcoin on the other hand needs a market cap 10-100X higher than it has now for it to provide the nessary liquidity in a flight to safety scenario.

this is why i think 32,000$ in < 2 years is a real possibility.

any serious cash starts flowing into bitcoin and price will explode, and with the recent news of banks all over playing with / admiring "blockchain tech", I can't imagine why bitcoin wouldn't be seen as a safe haven. its got all the right properties a safe haven should have, and the banks have put their nice big fancy looking stamp of approval on its underlying tech.

the only thing that could hinder the flow of money would be LN not being ready in time causing a massive uptick in fees and processing times, which might persuade poeple to run to gold instead of bitcoin.

[TERA]

Because there are 7 TRILLION dollars of gold and also gold isn't moving on all the same factors as Bitcoin. This isn't all a USD move. Bitcoin also has the halving, its adoption news, and the $500 resistance crossover rally/bubble cycle.

[adamstgBit]

So no buy wall supports?

I'm more impressed with the 20k of sells that suddenly popped up than the 5k reduction in buy depth.

seems perfectly normal that a huge amount of asks would get placed After a price incress. poeple and bots alike probably wait for their target price to approach before starting to place asks.



bitfinex should lend bitstamps some coins before it run completely dry!

[adamstgBit]

price is "732 . kinda low not impressive" 

[adamstgBit]

So no buy wall supports?

the first pic displays depth all the way to 70$
the second pic displays depth to 80$
this might help explain the " 5k reduction in buy depth. "

[TERA]

the first pic displays depth all the way to 70$
the second pic displays depth to 80$
this might help explain the " 5k reduction in buy depth. "

Ok forget the BTC and look at the fiat.

[adamstgBit]

What is going on? This went mad so fast i can´t even believe it.

believe it, and dont sell, let the suckers try and "catch the top".

we have this expression for discouraging bottom fishing: " dont try to catch a falling knife "

maybe we need a new one for discouraging catching the top: " dont try and stop a rocket "

[Denker]

Morning gentlemen!
Woke up a few minutes ago with an extreme morning boner!!
I just thought: "Man this is a sign!"
Switched on the computer, checked the charts and "Holy Moly!!".
That's the way I love to start into a day!

[Riddikulo]

What is going on? This went mad so fast i can´t even believe it.

believe it, and dont sell, let the suckers try and "catch the top".

we have this expression for discouraging bottom fishing: " dont try to catch a falling knife "

maybe we need a new one for discouraging catching the top: " dont try and stop a rocket "

Due to the big BTC and GOLD rush, im afraid of something big going on globaly. Are there news about big catastrophic or war being declares?

[adamstgBit]

What is going on? This went mad so fast i can´t even believe it.

believe it, and dont sell, let the suckers try and "catch the top".

we have this expression for discouraging bottom fishing: " dont try to catch a falling knife "

maybe we need a new one for discouraging catching the top: " dont try and stop a rocket "

Due to the big BTC and GOLD rush, im afraid of something big going on globaly. Are there news about big catastrophic or war being declares?

http://www.bloomberg.com/graphics/2016-brexit-watch/

Brexit is looking more likely.

[umair01]

What is going on? This went mad so fast i can´t even believe it.

believe it, and dont sell, let the suckers try and "catch the top".

we have this expression for discouraging bottom fishing: " dont try to catch a falling knife "

maybe we need a new one for discouraging catching the top: " dont try and stop a rocket "

I agree. Let's get this statement all over the forum and make it a thing, like got goxxed or Satoshi.
Everyone should know it.
DONT TRY AND STOP A ROCKET.

[TERA]

Bitcoin and gold are both having TA breakouts that have been in the chart for several months. It's nothing sudden and catastrophic.

Except today there was a us fed decision to not raise interest rates which accounted for a few percent.

[PoolMinor]