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

[yefi]

Wouldn't want to be at the back end of that train 

[podyx]

I think its on.

The fact that it's on is clear.

The question is HOW on is it?

Are we looking at $3k or $9k? Maybe $15k?

[toknormal]

Hobular trading arriving at the magic 5000 CNY which is entering 2013 territory.

Then we're looking for 5180 for SRB ignition.

[tommy69778]

was bitcointalk down for everyone or just me?

yep. me too. that can only mean that this rally is serious. bitcointalk always craps out when things are going off.

Me too, I couldn't login for the last hour and there's nothing on the bitcointalk twitter about a DDOS. It's probably an extra 5000 members an hour trying to login that caused it. Everyone's suddenly interested in Bitcoin again now it's pumping. The more the yuan gets dumped the more Bitcoin gets pumped.

[2017Bubble]

I'm getting a bit anxious, if bitcoin double tops at old ath we might see -700 digits for another few years.
Make or break.
Next months are C R I T I C A L!!!!


 

[Wosterlee]

Iceland election going great for the Pirate Party; Bitcoin adoption is a step closer:

http://icelandmonitor.mbl.is/elections2016/

[yefi]

It's probably an extra 5000 members an hour trying to login that caused it. Everyone's suddenly interested in Bitcoin again now it's pumping.

In terms of popularity, Board Stats show a lull, and Google Trends has only showed a very modest uptick. This could well be a good thing, however, as it shows potential for explosive growth later on.

[julian071]

Wow. on Kraken some people are really putting up a fight against the rise!

[Ted E. Bare]

Wow. on Kraken some people are really putting up a fight against the rise!

Let's hope that they are people shorting. I'm of the opinion that we need those to continue our journey to the new all-time high.

[JayJuanGee]

BTC pumps just like last year.

I think we might hit 6000 cny/825$ before a sharp dump to 650.

Actually, that seems to be a decent prediction, even though it is unclear if your are basing your prediction on merely history, and we know that history does not necessarily repeat itself - even though it tends to rhyme.

In that regard, this year and last year are similar, but there have been changes, too.  We are in another place... nonetheless, I agree with you about there likely to be a certain level of resistance in the lower to mid-$800s, and that could be a reasonable place to take a correction.. however, also, bitcoin is not reasonable, so a correction could likely take place at a time much sooner than others expect.

The fact of the matter, currently, is that we have not had any kind of significant price correction since the lower $600s (actually since about the $610-ish price area).  Accordingly, we have a BTC price appreciation that is currently approaching about 17%, and yeah, if we go all the way to the lower $800s without a meaningful price correction that would be more than a 30% price appreciation - which is certainly within the realm of doable - even though it seems a bit more likely that we would experience some kind of meaningful correction before that price point and even before the mid $800s.    We also have to keep in mind that our latest high, and even going on more than a 2.5 year high is in the upper $700s, and it seems quite likely that there is going to be resistance in the upper $700s (that is before we even make the lower $800s), but what the fuck do I know?  I certainly don't mind reading what seem to be reasonable predictions that area a bit more bullish than my own, and surely if the more bullish predictions were to come to pass, then I would certainly benefit from those kinds of proposals of more bullish outcomes.

[JayJuanGee]

so how do we reckon bitfinex is gonna murder this run? surely it's too soon for another hack or outage. i'll expect something genuinely creative from them this time around.

Even though they have a track record of a couple of "coincidental" market ruining experiences, they  are not the only exchange or entity that could cause either a reversal of this uptrend or a flattening out.

Also, there is a certain amount of market dynamics in which any kind of news can become inflated in order to take advantage of the "need for a correction."   In that regard, a small correction could start and become exacerbated by FUD or actual malevolence... We always gotta be prepared for corrections (even exaggerated corrections), and those kinds of market dynamics are not unique to bitcoin.. even though we may be trying to correlate bitcoin experiences with other kinds of markets and asset classes in order to attempt to better predict where it is going to go and what factors are going to affect the quickness and intensity of any of its directions.

[Spaceman_Spiff]

Lots of alts in the shitter today.

[AZwarel]

Wow. on Kraken some people are really putting up a fight against the rise!

Do not forget, that half in the EU countries, from 29th Oct-2nd of Nov is a 4 day "bank holiday" (Nov. the 1st is "Dead relatives Day"), so no new fiat can hit the exchanges. I do not know about China/US/India.

But, in the Eurozone, that is a hold back for fiat->btc pumping. Still, i am amazed, how strong the resistance against dumpage back to 680$ areas, this is very unusual.

[JayJuanGee]

Wow. on Kraken some people are really putting up a fight against the rise!

Do not forget, that half in the EU countries, from 29th Oct-2nd of Nov is a 4 day "bank holiday" (Nov. the 1st is "Dead relatives Day"), so no new fiat can hit the exchanges. I do not know about China/US/India.

But, in the Eurozone, that is a hold back for fiat->btc pumping. Still, i am amazed, how strong the resistance against dumpage back to 680$ areas, this is very unusual.

Your description of holidays does not necessarily signify that a pump is less likely.  The powers that be (the whales in bitcoin) will purposefully engage in tactics to pump BTC prices during periods in which folks cannot really get in.. Do you recall the three weekends in a row in late May / early June 2016?  There was a weekend pumping every weekend for three weekends, then all of a sudden it stopped and reversed courses.

When whales want to pump, they seem very capable and prepared to do that on their own schedule and without necessarily having the assistance of the masses  (and in fact they maybe do not want to have the assistance of the masses until the masses start to put their money in at the end of the pump, and at that point, the whale pumpers cash out)

[Fakhoury]

Hobular trading arriving at the magic 5000 CNY which is entering 2013 territory.

Then we're looking for 5180 for SRB ignition.

When I see you post Toknormal, it makes me euphoric.

Simply, rest assured that we are doing well

Could you please tell me please what SRB please , I know why you care for 5180 CNY but I don't know what you mean by SBR.

[AZwarel]

Now that i think about it, there are really new people want to in. We are just so used to all the "fake good news", we can not fathom the possibility, that there are really a new wave of users/speculators. Two of my friends asked me this week how to buy btc, even though i was telling about it for alas 2 years by now. Weird. Is there some MSM article/policy change i've missed?

I know there was one MSM article translated here in my country which mentioned bitcoin as a "independent safe heaven asset", but still.

[bigfryguy]

Wow. on Kraken some people are really putting up a fight against the rise!

Let's hope that they are people shorting. I'm of the opinion that we need those to continue our journey to the new all-time high.

agreed we will need some kind of blackswan event to clear all the longs if we ever want to get to ATH numbers.

[calme]

who else here started buying up btc once it dropped under 700? 

[RCan06]

Now that i think about it, there are really new people want to in. We are just so used to all the "fake good news", we can not fathom the possibility, that there are really a new wave of users/speculators. Two of my friends asked me this week how to buy btc, even though i was telling about it for alas 2 years by now. Weird. Is there some MSM article/policy change i've missed?

I know there was one MSM article translated here in my country which mentioned bitcoin as a "independent safe heaven asset", but still.

That's funny because I've been telling many people in my life for the last 2-3 years about btc, but not many people were very interested to buy any when they were sub ~300usd for a full year ("I think I'll wait awhile" was a common response), but now I've had some of those same people ask if they could purchase some from me or where to purchase some haha. I'm assuming there are a lot of people who have become aware of bitcoin since the last bubble but have basically brushed it off, and once activity picks up those people will become aware again and want to know more.

i can not connect here half hour .. wtf

This has been happening to me (and others from what I hear) all day.

[JayJuanGee]

who else here started buying up btc once it dropped under 700?  

Why wait until under $700?  

On some USD/BTC exchanges the price rose until nearly $730 (maybe largely in the mid $720s).  

I have placed random (yet systematic) orders on exchanges to sell in increments on the way up and buy in increments on the way down, and my spread between buying and selling generally ranges between $10 and $20, so in this most recent upsurge and correction, I had sales in the mid $720s and buy backs in the $7teens and lower...

Anyhow, the correction has caused a lot of buy orders to execute because in many cases the correction on almost every exchange that I use was quite a bit greater than $20... which caused the triggering of several buy backs.