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

[European Central Bank]

the 16 millionth coin was just mined. less than five million due to arrive now. that's an easy figure to forget.

[Killerpotleaf]

https://www.youtube.com/watch?v=7xX_KaStFT8

america being made gr8 again, will be positive for bitcoin!

[Denker]

All we need is 1% of Indians to buy some bitcoin and we will see USD1k again...  

https://cointelegraph.com/news/with-one-percent-of-indians-investing-money-into-bitcoin-its-price-can-reach-1000-by-the-end-of-2016

1% of India's populations still is a number bigger than 12 million people.
Right now I can not see why that much people there should buy Bitcoin.
You could say the same about any other big nation, in terms of it's population or economic power.
Also several other events could push us to $1000 again.
And sooner or later it will happen.And whatever will be the trigger, I won't give a damn as long as it happens.

[Temp_JayJuanGee]

All we need is 1% of Indians to buy some bitcoin and we will see USD1k again...  

https://cointelegraph.com/news/with-one-percent-of-indians-investing-money-into-bitcoin-its-price-can-reach-1000-by-the-end-of-2016

1% of India's populations still is a number bigger than 12 million people.
Right now I can not see why that much people there should buy Bitcoin.
You could say the same about any other big nation, in terms of it's population or economic power.
Also several other events could push us to $1000 again.
And sooner or later it will happen.And whatever will be the trigger, I won't give a damn as long as it happens.

1) I think that I know what people mean when they talk about a btc price of $1,000, and they seem to be attempting to refer to a seemingly BIG number, but really, I believe that $1k is not a very helpful price reference point (even though it seems kind of appealing and has a certain kind of ring to it in numerology - that is moving from 3 digits to 4 digits).

2) Currently, we are not really very far away from $1k - about a 35% BTC price appreciation from the currently floating $740-ish would bring us there.

3) upwards movement in price resistance points seem likely to exist in the upper $700s and lower to mid $800s  (smooth sailing after that?  could be? maybe?)

4) previous ATH was about $1,160.  Given the past overshooting nature of bitcoin prices, doesn't seem too likely that BTC prices would get stuck very long in between $900 and $1,300 - however,  I could be very very wrong in my current thinking of the BTC price NOT sticking topic because currently as compared with late 2013, there surely are a whole hell-of-a lot more ways to short bitcoin, no?

[Elwar]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

[0rganic]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

"A $20 trillion market cap for bitcoin would be $1,300 per bitcoin."

That makes no sense.

[kurious]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

If only!  I think you meant $20 billion. Or you need to add a few zeros and another comma to that price!

[Elwar]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

"A $20 trillion market cap for bitcoin would be $1,300 per bitcoin."

That makes no sense.

Yep, meant billion.

[chubiruba]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

are you taking into account the coins that will be mined until 2020?

[molecular]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

1% ?!?

That's insanely high. No way is bitcoin used for 1% of e-commerce.

[gentlemand]

1% ?!?

That's insanely high. No way is bitcoin used for 1% of e-commerce.

Indeed. That's bonkers. I still get the feeling a bell goes off and metres of silly string shoot from the walls in the Bitpay office every time a sale takes place.

[Elwar]

Bitcoin price just passed the all time high in Nigeria.

http://www.itwebafrica.com/home-page/e-commerce/700-nigeria/237095-bitx-reports-bitcoin-price-of-us125118-in-nigeria

[tabnloz]

I think it is all about surviving for now.

The longer bitcoin does so the better.

Once we get to the inevitable faltering of the debt system it will be off to the races.

In a true crisis situation, with the amount of debt and leverage in the system, there will only be a few asset classes that money will flock to. I believe bitcoin will be one of them.

Due to the 21m limit they are scarce

Due to the so far limited adoption, I hope bitcoin will bypass the downside that comes with 'sell whatever you can' that typifies a panic (this assumes that a lot of the current movements are attributed to traders ramping up / down magnifying 'news').

[Elwar]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

are you taking into account the coins that will be mined until 2020?

That's why I rounded to $2,500 instead of $2,666.

But yes, 1% is a high number. The article I read was putting Bitcoin down because their survey found "only" 1% of the participants used bitcoin for ecommerce. Can't find the article now though 

[BTC_ISTANBUL]

After India now Venezuela has announced 'capital control regime'.In short you can not get what you deposit at the bank whenever you want but only a defined amount at a defined date.

Well, Venezuela is a rich country for her resources but domestic income per person is low , so the amount of money people keep at home.However this regime may spread and BTC and other coins may rise because of supply and demand.

[starmman]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

are you taking into account the coins that will be mined until 2020?

That's why I rounded to $2,500 instead of $2,666.

But yes, 1% is a high number. The article I read was putting Bitcoin down because their survey found "only" 1% of the participants used bitcoin for ecommerce. Can't find the article now though 

In my opinion 1% of online transactions would be a great level for BTC to be at. I suspect some currencies like the Swedish Krona are also less than 1% of world online transactions.

[petahashminer]

Chinese pump time ?

huobi just went over 5250 yuans..

go huobi go. 


by the way,

who sold at bottom?

[Blavatsky]

it is not pump, it is just the return to the same price as before the dump

[Ted E. Bare]

It is happening again!!

[becoin]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?