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

[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.

[Torque]

Updated chart  

Excellent.

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

[IMG width=450]http://i664.photobucket.com/albums/vv10/JimboToronto/tinkerbell1c.jpg[img]
[IMG width=300]http://i664.photobucket.com/albums/vv10/JimboToronto/chart170103.png[img]

 

You know what's funny though, Jimbo? Most of the bear trolls didn't disappear from this sub.  They're still here. When the bull run began, they just logged out of their bear troll accounts, and back into their bull accounts (which, ya'know, suddenly reappeared after a multi-year hiatus   ) or made completely new bull accounts.  

They're probably in here right now, supposedly "acting" like bulls, slamming the bears and trolls along with everyone else.  Because, ya'know.    And of course they'll all go into hiding once the downturn comes, and accounts like NLC will suddenly and magically reappear again.

[ErisDiscordia]

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



After a wild bouncing day of corrections failed dumBs and new CAD ATHs...

FTFY. Get with the times, Jimbo!

You know what's funny though, Jimbo? Most of the bear trolls didn't disappear from this sub.  They're still here. When the bull run began, they just logged out of their bear troll accounts, and back into their bull accounts (which, ya'know, suddenly reappeared after a multi-year hiatus   ) or made completely new bull accounts.  

They're probably in here right now, supposedly "acting" like bulls, slamming the bears and trolls along with everyone else.  Because, ya'know.    And of course they'll all go into hiding once the downturn comes, and accounts like NLC will suddenly and magically reappear again.

I wonder how big of an effect they had on the market (if any).

[hulla]

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

No, you're right bitcoin is hiking up everyday and the last year prediction is that price of bitcoin will rise to $2100 as said by Saxo Bank.
HODL

[JimboToronto]

failed dumBs

FTFY. Get with the times, Jimbo!

After all those walls of text, JJG achieves immortality with a single one-word typo.

 

[LFC_Bitcoin]

{--snip--}

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




 

Haha I love this one Jimbo, very good

[stereotype]

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




 

^^^Made me smile, mucho. 

[energycr]

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

I'd be interested in seeing this coyote gif too. I missed it and if you couldn't find it then my chances of finding it would be next to nil.
Going through 16000 pages in this thread would be a full time job.

[yefi]

I'd be interested in seeing this coyote gif too. I missed it and if you couldn't find it then my chances of finding it would be next to nil.
Going through 16000 pages in this thread would be a full time job.

[ImI]

I'd be interested in seeing this coyote gif too. I missed it and if you couldn't find it then my chances of finding it would be next to nil.
Going through 16000 pages in this thread would be a full time job.

perfect. thx!

[gembitz]

more like: "Flying @ $1000!!! Gentlemen ... ===>



 

[PoolMinor]

BTC