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

[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

[Omikifuse]

Wall at $775 about to be eaten.

where?

here I see a struggle to break $750.

Bitstamp

In fact I see the price nowhere near $770 in any USD dollar exchange

[PoolMinor]

Wall at $775 about to be eaten.

where?

here I see a struggle to break $750.

Bitstamp

In fact I see the price nowhere near $770 in any USD dollar exchange

I guess I jumped the gun, was looking for self-fulfilling prophecy. My sincerest apologies to all the readers of this forum.

[harrymmmm]

Friday night Adam must've been drinking again  
Did you at least returned the kids back?

Lol. Yes, the crazy level has risen again.
The 'majory' is here!

A message or two(?) seems to be missing as well. How'd that happen?

edit: Ahh. 'deleted by a moderator'.
Happy to reply directly, but I don't know who you are, so I'm doing it here.
Was my post about segwit lockin failing deleted because you think that is unrelated to bitcoin price? Really?
I'm guessing it was deleted more because it was replied to by our local crazy, but that hardly seems like a reasonable moderation, right?

[marcus_of_augustus]

That was last chance under $750 chaps ... time we ramped up the segwit signalling now and its off to the races.

edit: does your butthurt feel better now snowflake?

[harrymmmm]

That was last chance under $750 chaps ... time we ramped up the segwit signalling now and its off to the races.

I think I'm correct in saying that segwit signalling is off-topic here (/u/Lauda?).
There's another thread for it: https://bitcointalk.org/index.php?topic=1450783.0

[Elwar]

   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

It won't be until the next tax reporting year that the price will be up for the year since 2013. Most people will not have yearly gains to declare unless they are traders (not really a CoinBase thing) or they structure their spending differently (LIFO, FIFO, etc). I was going to go through the reporting thing last year but noticed that my spending was lower than my purchases throughout the year. The IRS doesn't care if you don't report losses.

This year I sold my house at a loss so it will more than compensate for any gains I received via spending as the price goes up.

[PAMPT]

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?

One single wall is certainly not enough to suppress this sucker, set up a wall on one or two exchanges and what, next day it will eventually get arbed as east resumes to climb up. Bigger walls across leading exchanges make no sense either as someone may buy into them and eliminate the said effect of suppression.

[Kramerc]

The only wall I see is on btc-e at 745 for around 1.1k.

Better stash on the popcorn for the next weeks.

[harrymmmm]

That was last chance under $750 chaps ... time we ramped up the segwit signalling now and its off to the races.

edit: does your butthurt feel better now snowflake?

Haha. Yes, thank you.

Apart from issues like fairness, relevance, etc, my deeper purpose in making the off-topic comment was to display my hurt butt.
I'll try to avoid slinging dung in future as well.

[Megapump]

I've read a lot about how great intraday trading has been for the past couple of weeks but I don't get how it is worth the effort considering the market fees of at least 0.8%
for buying and selling. Are people really happy about 1-2 % profit? If you miss the train and bitcoin jumps above $ 1000 the intraday traders are left behind just for the fun of having made a few % of profit. Am i missing anything?

[Karartma1]

Even though our train is constanly stopped! But I know what we need: we need a rocket, a train's not enough.
I see $800 but Pacman (BTC) needs to win many levels before going there.