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

[hulla]

When are we actually gonna pass ATH Jimbo?  

I wish I could see into the future. I'd break my anti-gambling rule and already be rich.  

I guess the ATH depends on where you are. Americans need current prices to rise 66% to reach an ATH, while Canadians only need to rise less than 25%.

If I have to take a stab at it, I'd say some time in 2017 for us Canadians and sometime in 2017-8 for Americans. I'm not all that familiar with other currencies but I think the yuan might be quicker than the USD. As for the rupee, aren't they getting close? I don't even want to mention the Chilean peso.  

Brother, most probably next year we will see $2K-$4K

Why ?

1. COIN ETF
2. BitCache and Megaupload 2
3. Saxo Bank predication (They predicated the Brexit back in 2014)

This is only few to list.

Concerning the Saxo Bank prediction. Should will be expecting bitcoin to hit 2100$ in the year 2017 cos currently bitcoin  prices neared 780$ this week and it coming within 1% of their annual high after rising above the 700$ price.

Saxo Bank prediction is that bitcoin will be 2100$ next year. Guys, it true that the price of bitcoin will reach 2100$ in the year 2017?

Many people are waiting for that price from long time even many people are still holding the bitcoin for future. It is going to be great revolution if it really touches 2100$, even no control on bitcoin it is keep tickling the price really bitcoin has great future.

Yes, bitcoin does had a great future and some of the major thing that somehow affect the future of bitcoin are the hacking thing and some scam exchangers.
Meanwhile, I just want to be reassure if the price of bitcoin will really hit 2100$ next year.

[0xfff]

Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week. 

[DeathAngel]

Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week. 

That's a good point to be honest, I've posted in & viewed this thread for ages but never thought that.
But whilst we're at it, the price next Friday (16th Dec) I will predict $804

[yefi]

I used to use them for a while and then when I sent a translator in France a payment for a translation for a job I was (legitimately) doing in French about Moscow and I put a reference 'Moscow translation' on the payment it was held up for ages, I complained and they asked (extensively) what it was for, why I was doing it etc.

I said it was a transfer of funds in Euros - exactly what they were advertising was 'easy' with their service. They were suspicious because of the use of the word 'Moscow' that it was a breach of Russian trade embargoes / money laundering etc. which was ridiculous.

They refused this legitimate (and totally legal) money transfer for UK to France totally and so I never used them again, and I never will.

One day, I will do all of this in Bitcoin - right now, realitstically I can't, but it's not long way off.  No one else can offer these legitimate payments without excessive charges and / or 'questions' about 'why ' a person wants to do it.

They are resisting the tide along with all the others.  This is why crypto will win and fiat banks will lose in the long run.

Long live frictionless, cheap transfer of money across borders. Long live BTC.

Another great example of the limitations of their system, where permission must be sought, and where one's money is not truly one's own.

[yefi]

Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week.  

This seems to come up every other page, but Adam (the OP) lost access to his account, so that poll is going to stick for eternity until the situation changes.

[European Central Bank]

This seems to come up every other page, but Adam (the OP) lost access to his account, so that poll is going to stick for eternity until the situation changes.

it's gonna be a legitimate historical artefact for the years to come. let's celebrate it.

[bitebits]

This seems to come up every other page, but Adam (the OP) lost access to his account, so that poll is going to stick for eternity until the situation changes.

it's gonna be a legitimate historical artefact for the years to come. let's celebrate it.

Some day people will think Adam just forgot the zeros at the end of each voting option.  

[ErisDiscordia]

Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week. 

OP doesn't post here anymore (account got hacked). Don't know who else could change the poll - mods perhaps? Polls used to be fun.

[julian071]

The Last Bulltrap or is this gentlemen?

[LFC_Bitcoin]

Adam's favourite sort of joke bitcoin price prediction was $32,000. Let's hope that bears fruition in the next 5-10 years. I think we'd all like a piece of that pie

The Last Bulltrap or is this gentlemen?

Just the beginning my friend.

[machasm]

This seems to come up every other page, but Adam (the OP) lost access to his account, so that poll is going to stick for eternity until the situation changes.

it's gonna be a legitimate historical artefact for the years to come. let's celebrate it.

Some day people will think Adam just forgot the zeros at the end of each voting option.  

lol

[r0ach]

Adam's favourite sort of joke bitcoin price prediction was $32,000.

I did a lot of calculations based on various factors and market caps to try and find a realistic Bitcoin ceiling price.  I can't recall them all, but think I came up with anything from:

- 250 billion if there were around 4 different dominant chains (or maybe 1 trillion for a single chain)

- 420 billion ($20,000 per coin)

- around $7000 - $8000 per coin if every millionaire hedged 1% of their wealth in Bitcoin.  But that would be a fully liquid, fully capitalized market where everyone can cash out, so it would likely be something 10x higher than that at $80,000 per coin or $1.6 trillion market cap

I believe there's also only around 2.5 billion ounces of investment grade silver bullion sitting around (but estimates of 10-20 billion total in existence, not investment grade bullion though), so the silver market cap is only like $42 billion.  I think it would be very strange if the Bitcoin market cap went higher than silver.  When the shit hits the fan, or they implement a new Bretton Woods to revalue gold, they will have to set the gold price to something around $20,000 an ounce at 40% backing (the historical backing ratio).  The price of silver will likely spike to anywhere from $666 - $1333 in said event (15-30:1 GSR), so the market cap of Bitcoin going "too high" compared to other assets isn't really a problem when things like metals eventually break free from banker manipulation.

In other news, the govt really doesn't like #pizzagate, so whatever you do, don't say anything about #pizzagate anywhere because the govt specifically forbids you to talk about #pizzagate.

[Andre#]

In other news, the govt really doesn't like #pizzagate, so whatever you do, don't say anything about #pizzagate anywhere because the govt specifically forbids you to talk about #pizzagate.

So now that you (and I) talk about #pizzagate, what's gonna happen?  Theymos is going to ban us here?

Did a google search on pizzagate, got over 5 million results. What's going to happen with those?

https://www.google.nl/search?q=pizzagate&oq=pizzagate

#conspiracy (to stay on topic)

[JimboToronto]

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

[JayJuanGee]

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through.  Does anyone have any solid theory or technical analysis terms for that dynamic? 

I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s?  Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc...

[JimboToronto]

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through.  Does anyone have any solid theory or technical analysis terms for that dynamic?  

I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s?  Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc...

I'm not big on technical analysis being applied to something as manipulable as Bitcoin, so I can't comment on its terminology.

I will say that I also see this phenomenon as bullish, but that's not surprising. I wouldn't be an accumulator/holder if I wasn't a permabull long-term. Luckily Bitcoin has (with the exception of 2014) proven me right.

The tinfoil-hat conspiracy theorist in me would like to believe that it's all a choreographed dance, orchestrated by a few extremely wealthy individuals or groups to accumulate large Bitcoin holdings at the expense of amateur traders.

The realist in me wants to believe it's just a natural market dynamic. Keep battering away at a resistance point until it's broken, move up another leg, have a correction/profit-taking/(manipulation dump?), establish a new higher support level, then head back up to the new resistance point. Rinse and repeat.

Either way, I see it continuing upward for now.

[JimboToronto]

people will just give up on exchanges and just go outside at the "piazza" and just ask random people "do you like to buy some BTCitcoin?", like a person selling pamphlets or tickets for something.

It's been years since I've used an exchange. Indeed many of my purchases have been from private individuals "on the street" (actually securely behind closed doors).

More recently there has been an explosion of BTC ATMs in Toronto and fees have plummeted considerably. I used to pay 5-7% and figure it was worth it because half of that represented what it would have cost me in exchange trading fees and fiat transfer costs, and I was buying convenience and anonymity.

Now i have my choice of 3.5% ATMs within walking distance of my home,including one just a block away from the Skydome which I attend regularly during the spring and summer.

I can even buy or sell up to $100/day for only 1% at (strangely enough) Deloitte, the esteemed corporate accountancy/services firm, albeit with no anonymity. The daily limit isn't much good for buying the dips when I usually try to buy at least a whole coin or more, but paying a mere dollar to buy $100 fiat is great if I'm short on cash and I'm forced to part with a little bit of Bitcoin.

The point I'm trying to make is that not only are people moving beyond the exchanges and banks, but independent operators are competing to fill the gap. The fact that someone as big as Deloitte is aggressively joining the competition speaks volumes.

[hulla]

Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week. 

That's a good point to be honest, I've posted in & viewed this thread for ages but never thought that.
But whilst we're at it, the price next Friday (16th Dec) I will predict $804

Hmm. It will be nice if the pice of bitcoin hit 804$ but the question is. Are you totally/wholly sure of your prediction?

[logictense]

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

If u ever traded stocks u would have known that some people be inclined to wait a minimum of 3 days for a totally confirmed breakout.

Ur wording etc "monotonous" would have been considered right if u had traded a chop.

BTC havent been choppy for two months, quite the opposite - it has been in a steady uptrend.

With unmeasurably faster cycle than that in most stocks, bitcoin is nothing compared to West Texas Oil which, for example, had experienced a 4 y long chop before it crashed hard summer 2014.

[PoolMinor]

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through.  Does anyone have any solid theory or technical analysis terms for that dynamic? 

I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s?  Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc...

Logarithmically speaking, we are right on track....





Enjoy the next rise.