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

[JayJuanGee]

Does the low volume means no one is spending or buying coins? Also, if the volume is so low why does it not affect the price?

Does this mean people are just hodling?


Just trying to work out the whole low volume thing.

I personally believe that low volume merely means that there is a sort of wait and see going on in respect to trading... sure bears would want to attempt to push it down, but they are waiting for others to sell their coins first before they join in.  Bulls on the other hand would like prices to go up, but they are waiting for others to begin buying first.  Both are a bit nervous about attempting to use  their own coins to push the price in the direction that they would like.

Trade volume is one thing that actually affects price and transactional volume is another thing that probably does not depend so much on the price, even though probably people spend more bitcoin the higher the price of bitcoin (they buy more also).

I think that a fairly accurate representation of transactional value is the below linked graph.

https://blockchain.info/charts/transaction-fees-usd?timespan=1year

You can see that overall more and more money is being spend on bitcoin transactions (not the same as trading)

[rjclarke2000]

Thanks for the explanations

[toknormal]

Huge 4-week wedge forming. It's pointing at $640.

[Karpeles]

Does the low volume means no one is spending or buying coins? Also, if the volume is so low why does it not affect the price?

Does this mean people are just hodling?


Just trying to work out the whole low volume thing.

There are around 1600 BTC being generated every day, so people must buy BTC to price don't drop. The miners won't just hodl everything because they have to pay bill and taxes.

And low compared to what?

Volume is lower than before the halving because the halving was a hyped event, now things are back to normal

[The_Hamburglar]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

[Elwar]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

Someone promised you something?

[redsn0w]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

Someone promised you something?

I think someone has promised him the :

[The_Hamburglar]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

Someone promised you something?

Why ... yes, yes they did. And not just something, but panic buying due to the halvening.
Sounded pretty fishy to me at the time, too... O well, an expensive lesson in trust.

[Elwar]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

Someone promised you something?

Why ... yes, yes they did. And not just something, but panic buying due to the halvening.
Sounded pretty fishy to me at the time, too... O well, an expensive lesson in trust.

Who was this? Can you show us the contract?

[The_Hamburglar]

And low compared to what?

The past month. $76,807,200 in the past 24hrs. Would have to go back a month to find lower.
Hope this isn't the panic buying I was promised...

Someone promised you something?

Why ... yes, yes they did. And not just something, but panic buying due to the halvening.
Sounded pretty fishy to me at the time, too... O well, an expensive lesson in trust.

Who was this? Can you show us the contract?

Why you want to know? Are you from the government? You have to answer this honestly, or all the evidence you are collecting from me for NASA will be inadmissible, and won't stand up in court.

Are you, or have you ever, worked for the US government, the family of president Obummer, the IRS or any other terrorist gang, any or all branch(es) of the US military–industrial violence complex, or clandestine spying and secret-stealing organization, in full or in part?
You have to legally obligated answer please, war pig.

[savetherainforest]

After today... it might be the last day in history when we see the number 666$ or 4444 Yuan prices in the exchanges! ... Next one might be 666 Euro's but that might be debatable!

[soullyG]

Why ... yes, yes they did. And not just something, but panic buying due to the halvening.
Sounded pretty fishy to me at the time, too... O well, an expensive lesson in trust.

Who was this? Can you show us the contract?

Hahaha Hamburglar/Lambie you sound like that guy who was "promised there would be moon" by Coinbase and sunk $25k into XBT just before a massive dump, then attempted to sue them for misleading....something   - BayAreaCoins?

[BlindMayorBitcorn]

The good professor is petitioning the SEC. Charming.
https://www.sec.gov/comments/sr-batsbzx-2016-30/batsbzx201630-2.htm

[European Central Bank]

Man, i wonder if the brazilian government knows it's paying for professional trolling.

Guess those paid shills are a real thing.

[AlexGR]

Winter Weekend is coming

Let's see if the trend of weekend pumps will continue post-halving...

[julian071]

Man, i wonder if the brazilian government knows it's paying for professional trolling.

Guess those paid shills are a real thing.

That is a good question, to be taken seriously. He does sign his petition with his title and the name of the university he works for. I wonder if said university knows that someone is taking this action in their name.

[European Central Bank]

Maybe the government's paying him to piss open source projects off to destruction.

It could be an important part of academic research.

[The_Hamburglar]

Maybe the government's paying him to piss open source projects off to destruction.

It could be an important part of academic research.

Free market in action -- it's a beautiful thing

[adamstgBit]

Does the low volume means no one is spending or buying coins? Also, if the volume is so low why does it not affect the price?

Does this mean people are just hodling?


Just trying to work out the whole low volume thing.

There are around 1600 BTC being generated every day, so people must buy BTC to price don't drop. The miners won't just hodl everything because they have to pay bill and taxes.

And low compared to what?

Volume is lower than before the halving because the halving was a hyped event, now things are back to normal

I think volume will always trend downward in the long run.

because more and more Hodlers
because less and less supply
because more and more direct, BTC <> Property, trades.

of course when price moves 50% up and then 35% down up in a month volume will spike...

[DeathAngel]

Winter Weekend is coming

Let's see if the trend of weekend pumps will continue post-halving...

Hopefully. All a bit disappointing looking at the current price after the non event of the halving. I know it takes a few months until there are less coins on the exchanges until we may see a price increase but I expected a pump based on speculation at least.