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

[Ted E. Bare]

You know we're in a big rally when China is leading by > $20.

[kurious]

Price has made 4 strong runs up to $751 this week and stalled out. This wall is bigger than the one Trump wants to build 

Apparently its a Trump's wall. Ya know what this means.

You mean it's actually only a fence, or the Mexicans are going to buy it? 

[Karartma1]

You know we're in a big rally when China is leading by > $20.

Latest prices according to Bitcoin wisdom. It is already > $20 but the rally is still limping.

Bitstamp 743.63
BTC-e 737.998
Bitfinex 745.92
Huobi 766.34

value in dollars

[criptix]

Are the chinese trying to run from new capital controls or falling yuan?

Buy bitcoin with yuan and sell for dollars?

[BlindMayorBitcorn]

Are the chinese trying to run from new capital controls or falling yuan?

Buy bitcoin with yuan and sell for dollars?

[Hunyadi]

Are the chinese trying to run from new capital controls or falling yuan?

Buy bitcoin with yuan and sell for dollars?

[hulla]

I just heard from a reputable source that Trump is gonna ban BTC.

And China is also going to regulate BTC.

 

You guys need not to worry cos whatever the situation may be Trump will not ban bitcoin or do something that will affect the bitcoinaire

[DaRude]

I have to admit I'm surprised most of you are still here. Nobody thinks this is the top yet? Really?

Not if segwit gets voted on, right away. Popcorn time

It will but it has the time left in till september 2017 to gather confidence in what the collectivity may wish to view it as. Judging by how the industry and markets love extremes, Id make an assumption that consensus will come within the last days if not hours of the activation window. If not supported by 90 percent of miners within a 14 d timespace sometime between now and early fall 2017, then RIP.

I'm speculating that if we don't get say 50% in first weeks, the market will be disappointed

[PAMPT]

Im of opinion we set a new channel here with that stellar green candle. Its like a bump'n'run but without <run> part. No way back. Its balooning up all the way up and the single objection to buying would be to safe my house and not to gamble away the rest of my property for btc. Cheesus my wifey IS selling my car

[Fakhoury]

I just heard from a reputable source that Trump is gonna ban BTC.

And China is also going to regulate BTC.

 

You guys need not to worry cos whatever the situation may be Trump will not ban bitcoin or do something that will affect the bitcoinaire

I swear by God that Elwar was kidding.

All of this drama was because he didn't end his paragraph with this : /s

[European Central Bank]

https://medium.com/@zanetackett/i-have-resigned-from-bitfinex-4d7f1c6e48de#.kyev54ugf

bitfinex's public face resigns. i wonder whether their future outages and screw ups are gonna get any type of explanation in future, not that this guy's were very reassuring.

[Ted E. Bare]

Here we go again! Hodl.

[Temp_JayJuanGee]

Price has made 4 strong runs up to $751 this week and stalled out. This wall is bigger than the one Trump wants to build 

I don't think that the wall at $751 is big; however, there seem to be forces (bull whales) who are relatively capable of taking us up and above such price points, but when they get there, they become a bit worried that they may be left alone in their push upwards, which will cause them to get dumped upon, so they are not willing to push above and beyond $751 until they see that there are a sufficient number of "other bull whales" who are ready, willing and able to join in with them.

Maybe in the end we are reaching the same conclusion, even though we are describing the phenomenon (regarding resistance at $751) in different ways?

[TERA]

In May,  they were saying the same thing about how the price had touched $470 on 6 occasions over 5 months so supposedly it wouldn't pass.

[Temp_JayJuanGee]

https://medium.com/@zanetackett/i-have-resigned-from-bitfinex-4d7f1c6e48de#.kyev54ugf

bitfinex's public face resigns. i wonder whether their future outages and screw ups are gonna get any type of explanation in future, not that this guy's were very reassuring.

That's a somewhat interesting and understandable way of resigning (even though the statement is a bit fraught with tension). 

More or less he is saying that this is so much the best bitcoin exchange in the world, and I don't want to be a part of it because I don't want to deal with criticisms.

[PoolMinor]

I just heard from a reputable source that Trump is gonna ban BTC.

And China is also going to regulate BTC.

 

You guys need not to worry cos whatever the situation may be Trump will not ban bitcoin or do something that will affect the bitcoinaire

I swear by God that Elwar was kidding.

All of this drama was because he didn't end his paragraph with this : /s

Here it is for those of you that don't read every post---- Though you probably won't read this one either (not sure why I bother)

Quoted below is the "reputable source" he even offered a statement to show the original post in its context.

Well my little Firefox App shows BTC at an even $750 usd...so I'm sitting here waiting for the next bit of FUD to hit the news on the 'evil of BTC' or how 'Trump is gonna ban BTC'
or that China is going to regulate BTC ...really we are not making this up this time around

Ah crap by simply mentioning the FUD of the above I now likely will be the 'source' of the next downturn as the FUD nexus...damn it...sorry about that guys..jinxed it

But really some FUD will now arise to knock the price down ..its how the whole thing works ..don't ya know....

I just heard from a reputable source that Trump is gonna ban BTC.

And China is also going to regulate BTC.

 

[yefi]

In May,  they were saying the same thing about how the price had touched $470 on 6 occasions over 5 months so supposedly it wouldn't pass.

Ah, "The Bitcoin Ne'er 500 Again" posse. Halving priced in they said, sell before the crowds they insisted. What geniuses!

We don't need you elitist logic.

MAKE BITCOIN GREAT AGAIN!!!!

 

[TERA]

Chinese exchanges lead because they are the current axe in trading and there is no efficient arbitrage. It doesn't necessarily have anything to do with China.  In fact there could be traders from all over the world on these exchanges to trade in the high volume,  assuming they're not totally fake. In 2012-2013 it was customary for mtgox to be 10% ahead of other exchanges simply due to their volume, but nothing to do with japan. btce has always been behind,  but that has nothing to do with Russia.

If you want to know why Bitcoin is rallying, it's probably due to Segwit and Lightning.

There's also a small chance of capital flight from the Chinese exchanges. Not from China... just from the exchanges themselves, similar to the run up before Mtgox...

[yefi]

So ... segwit lockin failed after 20 hours.

Took over a month for support for the other BIPS to reach 95% threshold, so that's not a shocker.

[Searing]

   https://www.cryptocoinsnews.com/irs-targeting-bitcoin-transaction-records-coinbase-users/

   Got to love the IRS they get butt hurt on an internal Gov't audit and go on a fishing expedition.

   I myself have been 'legal' in the sense of mining btc/ltc as a business since 2013 so not an issue.

   But if they expect everyone to keep track of every bitcoin they ever made and pay 20% capital gains on it.

   Well that could be interesting