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

[savetherainforest]

Yaaaayyyy!!! ... OMG!!! We are having correction...    

 

Or this is the beginning of another year long bear market. Remember that? Imagine.

Nope!!! ... I was right and you where wrong!  


*Edit:  Btw... there is no such thing in BTCitcoin as "bear market" ... that is just nonsense! Bitcoin will always go 10x in value every 4-5 years.  


*Edit2: My prediction:






*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

[LFC_Bitcoin]

@savetherainforest - 'Bitcoin will always go 10x in value every 4-5 years'

I damn sure hope you're right with that prediction buddy.

[Ted E. Bare]

Date of introduction:
3 January 2009; 8 years ago

HAPPY BIRTHDAY BITCOIN

[ErisDiscordia]

Happy Birthday to you, Bitcoin!

May you outlive us all!

[AlexGR]

Updated chart 

About time

[tabnloz]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

[boyshx]

is it me or BTC daily jump happens when its morning in America? It's been like that the last two weeks

[savetherainforest]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

Stronger dollar in a bullish bitcoin run = bitcoin stagnation

Yuan devaluing = bitcoin stagnation

Clear?

[Karartma1]

Updated chart 

About time

I think we all love this gif: this is one of my favorites!
Today I've secured some more BTC in cold storage because I feel that we are not done with the recent fireworks and I don't want to move my coins around these days.

[savetherainforest]

@savetherainforest - 'Bitcoin will always go 10x in value every 4-5 years'

I damn sure hope you're right with that prediction buddy.

Probably... But... I am not sure it will be an exact 10x ( or 1000% ), and I think there will be a law of diminishing returns working against that. So it will probably be from last time 10x, the next one will be 8x or 7x from the previous ATH, then it will be 6x or 5x, and so on and so forth ... But it is still uncertain if it wont go the other way! Meaning it could be 11x or 12x, then 16x or 17x.. etc.

[kurious]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

Stronger dollar in a bullish bitcoin run = bitcoin stagnation

Yuan devaluing = bitcoin stagnation

Clear?

Hmm...  But....  An asset denominated in an appreciating currency, is surely attractive to someone in a currency that is depreciating or expected to depreciate against it.

When GBP went down after Brexit, my BTC were worth far more

[savetherainforest]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

Stronger dollar in a bullish bitcoin run = bitcoin stagnation

Yuan devaluing = bitcoin stagnation

Clear?

Hmm...  But....  An asset denominated in an appreciating currency, is surely attractive to someone in a currency that is depreciating or expected to depreciate against it.

When GBP went down after Brexit, my BTC were worth far more

Yes... because GBP was versus all global currencies. But bitcoin is somehow versus all as well. (including precious metals as well)
And when the rest of currencies grew, bitcoin got boosted too!

But mainly BTCiTcoin is valued against dollar/euro and pixie dust. ... And usually if the dollar gets pumped while bitcoin rises, then bitcoin stagnates (goes sideways)... And if bitcoin suffers a correction or a bear market trend when the dollar gets stronger, then the bitcoin dip accelerates. But!.. the thing is that bitcoin has more emotional value, and it depreciates lesser than it should against the dollar. But... another thing that has not really happened yet, is that the west prices will go higher for bitcoin when the yuan asserts dominance or market majority. Meaning that the yuan will have more influence or bitcoin will be more pegged to the yuan than the US dollar, and when that happens... Well ppl in China will be tempted to draw US dollars or euro's from the West and bring it back in China as "investment money" that is tax exempted by their government, but it will be at a profit margin. But for now the China bitcoin price is higher because the West has enough bitcoins and they are trading from their own resources/stashes. But when those reserves will dry out... you will see the West going wild with 100-150$ over China. And usually China is more bullish and will make competition, and this will be just madness that will go for thousands and thousands of bitcoin till they get that $100-150$ spread.

[tabnloz]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

Stronger dollar in a bullish bitcoin run = bitcoin stagnation

Yuan devaluing = bitcoin stagnation

Clear?

I'm not sure if you are agreeing here or not. It's early here.

Are you saying bitcoin stagnated briefly because the dollar strengthened 2-3% vs other currencies?

I see it differently. The stronger dollar trend gives anyone holding another currency incentive to move out of their domestic currency and into something that holds value, appreciates as their currency devalues. This has been in play for a while and has contributed to bitcoins bull run. In saying that bitcoin price increases led by China usually precede a devaluation so maybe that is what you are getting at?

[savetherainforest]

*Edit3:  The reason of this stagnation is the dollar getting stronger by 2-3% vs. other currencies. (this is from what I see from the currency exchanges)

Stronger dollar = weaker emerging market currencies (& most other currencies) = generally increasing bitcoin price (especially as Yuan weakens further).

As bitcoins price has really diverged recently from Yuan devaluation line, maybe a bigger deval is coming?

Stronger dollar in a bullish bitcoin run = bitcoin stagnation

Yuan devaluing = bitcoin stagnation

Clear?

I'm not sure if you are agreeing here or not. It's early here.

Are you saying bitcoin stagnated briefly because the dollar strengthened 2-3% vs other currencies?

I see it differently. The stronger dollar trend gives anyone holding another currency incentive to move out of their domestic currency and into something that holds value, appreciates as their currency devalues. This has been in play for a while and has contributed to bitcoins bull run. In saying that bitcoin price increases led by China usually precede a devaluation so maybe that is what you are getting at?

Yes... but only that currency grows in price per bitcoin. The dollar remains unchanged against bitcoin... But when the dollar devalues back, bitcoin gets the value from the other countries currencies (that was lost or regained), because bitcoin has more emotional energy and is praised more valuable than normal currencies. So if the market can hold the price after the pump and dump of the US dollar for example, then bitcoin will win in price a small percent.

[soullyG]

Every time I look at the price of Bitcoin lately, I freak out for a split second thinking I'm looking at the price on the chinese exchanges and it's dropped down 7x 





Thankfully that's not the case 

[JimboToronto]

An extra early good morning Bitcoinland and Happy Birthday to all.



After a wild bouncing day of corrections failed dumps and new CAD ATHs, we seem to be right back pretty much to where we were around this time yesterday... $1030USD at Bitcoinaverage.

That's $1385CAD after touching $1395, today's new ATH. Maybe today we'll break $1400.

As long as we keep stringing together green daily candles and daily ATHs, I can't complain.

[Paashaas]

Updated chart 

Thanks for the update, i hope you dont mind updating the gif more often in the future.

[JimboToronto]

Updated chart  

Excellent.

Maybe it's time to update some other old memes. Let's start with one for NLC.




 

[SnokkomBTC]

hahah, good one Jimbo 

[ImI]

yeah, maybe someone still has a copy of that coyote480.gif?  i looked it up but so far couldnt find it.