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

[JayJuanGee]

This little pump triggered the 6h PSAR flip to bullish, on BFX and OKCoin, so chances for a crash next days are low.

I am not very decent at some of this technical mumbo jumbo in terms of attempting to predict price moves with these technical resistant point; however, I have notices that the last couple weeks has included quite pathetic volume, and even the last tiny pump of about $10 came with a considerably low amount of volume.. which can really mean that either 1) bears are having difficulties keeping price down because running out of coins or 2) we are being manipulated and allowed to go up a little in order that bears can employ a more dramatic dump.

You seem to be more inclined towards 1 - even though maybe your way of attempting to explain might be different from mine.

[silverfuture]

I'm betting down to somewhere around 420$ USD in the short term.  I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.

From where are you getting these figures, from out of your ass?

That is a pretty low amount, and didn't you already notice that $600 had been tested several times in the past month, and only successful once.. Sure it is possible to go down to $420, but that would almost be borderline territory in reversing the bull trend... but that is not what you are saying.  In the end, we gotta get by $500 first and even $550 and $600, so there are a few challenges before even getting to the $400s.

Pretty much...but a little before anything comes out the ass, gut instinct kicks in!  Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

[becoin]

Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

Too many people are expecting this. I personally know 4 persons that expect 6-7% drop in price to jump in with a lot of cash, but no luck so far. They're getting impatient by the day.

[savetherainforest]

TO THE MODS:

If I went through this thread alone and flagged/culled every single post that wasn't "on topic" according to your supposed rules, this entire thread would need to reduce its post count by about 75-80%.

In fact the same could be said for the entire Speculation sub forum.  Yet those posts and threads remain.

But I guess this doesn't matter, eh?

EDIT:
For example, why is this thread still even here?
https://bitcointalk.org/index.php?topic=1563375.0

I know... they are annoying! ... Guess the internet has a more like a communism / nazi kind of vibe! So much damn censorship!

It is not like kids have thousands of dollars invested in BTCitcoin hanging out in this forum! Because kids don't have money! .. they are poor! ... Even a 18-20 year old has a hard time for $100-200$ to invest in this and they would not make a big fuss about it or bothering with this 15k posts thread!

This one quote from an article: "Take this one telling statistic: About 46 percent of Americans said they did not have enough money to cover a $400 emergency expense."
Article: https://www.washingtonpost.com/news/wonk/wp/2016/05/25/the-shocking-number-of-americans-who-cant-cover-a-400-expense/

Now excuse my profanity misbehavings, but there are no poor children here to even care to give a F'... about!

[AlexGR]

What's going on?

It's called a 2.5% profit opportunity.

Buy there, sell at 665.99

Told you to wait, but nooo... You knew better.

See? 664

[BlindMayorBitcorn]

I see nothing. Hey is Core supposed to take hours and hours to sync with the network? My datacenter's in my other pants.

[respawn2]

What's going on?

It's called a 2.5% profit opportunity.

Buy there, sell at 665.99

Told you to wait, but nooo... You knew better.

See? 664

Timing is hilarious, was just going to bring this up. Did you sell already, or waiting for 665.99? (because I'm pretty sure many peole are )

[AlexGR]

Timing is hilarious, was just going to bring this up. Did you sell already, or waiting for 665.99? (because I'm pretty sure many pepole are )

Nah, wake me up at 10-20x these prices...

[dumbfbrankings]

I see nothing. Hey is Core supposed to take hours and hours to sync with the network? My datacenter's in my other pants.

You're downloading and verifying every transaction that has happened in Bitcoin, ever. About the size of two blu-ray movies now.

If you have a decent amount of ram on the system... try increasing your dbcache to speed up verification.

-dbcache=<n>    say n = 2500, would allow the process to use 2.5GB of ram vs the default of 100MB.

[BlindMayorBitcorn]

I see nothing. Hey is Core supposed to take hours and hours to sync with the network? My datacenter's in my other pants.

You're downloading and verifying every transaction that has happened in Bitcoin, ever. About the size of two blu-ray movies now.

If you have a decent amount of ram on the system... try increasing your dbcache to speed up verification.

-dbcache=<n>    say n = 2500, would allow the process to use 2.5GB of ram vs the default of 100MB.

You can explain it to me, but you can't understand it for me. This is what makes learning new things so difficult.

[yefi]

Pretty much...but a little before anything comes out the ass, gut instinct kicks in! 

I'd get your gut seen to by a gastroenterologist.

[BlindMayorBitcorn]

Pretty much...but a little before anything comes out the ass, gut instinct kicks in!

I'd get your gut seen to by a gastroenterologist.

And at your age it probably couldn't hurt to get your prostate examined. Just a quick finger in the bum.
Edit: only 3 years 12 weeks of transactions to go!

[JayJuanGee]

I'm betting down to somewhere around 420$ USD in the short term.  I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.

From where are you getting these figures, from out of your ass?

That is a pretty low amount, and didn't you already notice that $600 had been tested several times in the past month, and only successful once.. Sure it is possible to go down to $420, but that would almost be borderline territory in reversing the bull trend... but that is not what you are saying.  In the end, we gotta get by $500 first and even $550 and $600, so there are a few challenges before even getting to the $400s.

Pretty much...but a little before anything comes out the ass, gut instinct kicks in!  Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

I am not really opposed to the idea of a BTC price correction, because my current view (and also recently posted view) was that I was thinking that we could get some price correction potentially down to the lower $600s, but yeah, the lower you go down in price, the lower the likelihood of such a correction taking place.  Not impossible, but becoming less and less probable as you predict lower prices.

Regarding my own BTC holdings, I had noticed that recently on the way up I had kept selling small amounts of BTC (up to $684) and then we have quite a bit of price stagnation in recent weeks without any kind of meaningful downward price correction for me to buy back more than just small amounts, nonetheless, even though I still am inclined to believe that there is a decent chance (more likely than not) odds that a meaningful downward price correction will take place of 5% or more.  Nonetheless, those "more likely than not" odds are not particularly strong, anyhow, and yeah, when you are making bets of BTC prices descending down into the $400s, I kind of wonder whether you are stacking your own BTC holdings in that direction, because it really seems like a losing proposition (or at least pie in the sky) if you are thinking (and betting accordingly) that the odds that BTC prices will go into the $400s is anything greater than 30% at this time.

Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

Too many people are expecting this. I personally know 4 persons that expect 6-7% drop in price to jump in with a lot of cash, but no luck so far. They're getting impatient by the day.

What are the odds that those folks place on this potentiality of a 6-7% price drop?  80% or so?  If so, they may want to consider investing 20% of their BTC funds at this current price point, just in case they are wrong.. but I understand that many people have difficulties with taking moderate approaches when it comes to their BTC investing and they tend to treat BTC as if they were in Vegas.

[silverfuture]

Pretty much...but a little before anything comes out the ass, gut instinct kicks in!

I'd get your gut seen to by a gastroenterologist.

And at your age it probably couldn't hurt to get your prostate examined. Just a quick finger in the bum.

Ok so it wasn't the best of analogies.

[jbreher]

I just started my first (non-mining) full node. I'm no longer part of the problem. 

Way to go. A good mayor needs to set an example.

[jbreher]

For example, why is this thread still even here?
https://bitcointalk.org/index.php?topic=1563375.0

I'm guessing it is still here because it is a thread comparing two alt coins, in a sub dedicated to the discussion of such?

[jbreher]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

[silverfuture]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

[JayJuanGee]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

That makes your earlier comments even more ironic because they seem to be somewhat out of touch with your actual practice and actions.

These days, it certainly is not difficult to make various efforts to attempt to align your BTC holdings in accordance with your view of their future price performance.  I know that a lot of folks are really disinclined to sell any of their BTC and so they only buy upon dips and continue to HODL, but if they are like you, and if they really believe that there is a decent chance that BTC prices will dip into the $400s, then they should sell at least a portion of their BTC holdings in order to kind of align their investment with their views. The alignment does not need to be precise, but at least a ballparking of such.

If you are only HODLing BTC, and you have no other plans in terms of the future price dip that you expect, then aren't you feeling kind of uncomfortable with the current allocations of your BTC holdings, or do you enjoy living in such high levels of discordance in your life?  I'm not trying to be judgmental of you, because my perception of the whole situation, as i outlined above, seems really strange to me.

[dumbfbrankings]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

Ah yes. Altho I didn’t specify the method of verification.

Technically correct, irrelevant in practice, leading to maximum non-wizard befuddlement… classic Gregory.