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

[Searing]

Yep China is investigating BTC exchanges and alike it would seem.... such great timing

What happens if they stamp out the fake/wash trade and make it real only?

Fake volume would go away. If no more then that it would still imho wash
Out st a much lower price. I'm a long term holder. If that is all they find better it is s now
Then later in my view

[Killerpotleaf]

Same pattern as June/July.

Guys, this is going to bounce hard.  820-830 should be a bottom from this point forward.

I would buy if I had any fiat left.  

Half my standby fiat just went back in at 798.5 - if I could have got into Stamp earlier, I might have nicked it lower.

I hope you're right, Sir - next resistance is probably 5000 CNY level - below that...? Jeez!

nice entry,

i'm late and cashing price....

[R00TC0IN]

https://s28.postimg.org/41skag3ot/Market.png

You just need to look at the volume being traded to see whats going on here.

I always thought we would see this and ride the down wave for some profit on the shorts!

I'm guessing we will see level playing field start to pan out around the $750 / $800 mark over the next few days.

[JimboToronto]

Well, an extra early good morning Bitcoinland. Don't normally keep farmers' hours but my sleep routine got a little upset by staying up most of night with a chick on Monday. Good thing too. I have just enough time to go pick up some fiat before my favorite off-exchange Bitcoin vendor opens for business.

Seems we dropped another $100 on news of the PBOC "investigation" going "local"... currently $816 (Bitcoinaverage). Keep buying the dips.

If you are investing long term why do you check the price daily? Price right now shouldn't matter to you.  

The most important reason is to catch the buyable dips. Snooze, you lose.

Apart from that, it's entertaining.

[Killerpotleaf]

Is it 2024? Nope. Then I need to calm the fuck down and continue my day. This was a 10-12 year plan and the only thing I need to remember is that if it goes really really low, buy some more.

If it drops below $200 I may be pissed off.

If you are investing long term why do you check the price daily? Price right now shouldn't matter to you. 

makes cents to trade the short term, i mean if your gonna watch and speculate might as well gamble

[LLec]

Same pattern as June/July.  The whale(s) pegging it to 900-910 for an extended period after the first leg down was the dead giveaway.

Guys, when these idiots are done dumping, this is going to bounce hard.  820-830 should be a bottom from this point forward.

I would buy if I had any fiat left.  

Nope. Saw it 802 when I checked preev from when I woke up 25 minutes ago.
Now it is steady at 808.
I think it trying to make a rally now that the US markets are coming online for the trading day.

[logictense]

This dump must be limited by $725. That will be the level where I'm prepared to seek an entry into highly leveraged long position. U may wish to buy now but there are still multiple technical reasons that are capable of reducing the price to $720.

[DieJohnny]

I think 690 is possible.

[Actualiteit]

Let it go. I'll put my buy orders at 200 just in case.

[jbreher]

Oh, bother. Dinner has been delayed. Again.

[Dafar]

The first major drop this month was over exaggerated news on China cracking down on bitcoin, when all they did is tell BTC exchanges that they can't market bitcoin with depreciating yuan, and that they should also cut down fake volume and simply warn customers that bitcoin is volatile. Not only does this show China's understanding of bitcoin, but it seems they are also taking a balanced and prudent approach with the long-term view in sight.

This drop seems exaggerated as well, BTCC says everything is business as usual. It is pretty evident by now that China does not intend to ban bitcoin nor limit the exchanges in a meaningful way.

So given what you know you tell me if the drop from $1160 to $790 was justified over the China news alone. It seems like a combination of a much needed correction accelerated by exaggerated fears of China cracking down on bitcoin when they are not. You either believed that bitcoin had no business being at $1000 during the entire run-up or you believed that it was about time, that bitcoin actually deserves to be at $1000 and that it needs to start getting expensive relatively soon for it to be sustainable. If your sentiment turned 180 from the climb to $1000 to now then you're being played by emotions and have no idea what you're doing. If you invested with the long term vision in mind I don't see any reason to panic, this is a gross over exaggeration of China's stance on bitcoin.

Also, I'm not a trader but isn't this the perfect setup for cup and handle?

And also, my dad wants to put $30K into bitcoin, you're welcome. Actually I didn't even convince him, I showed him how much I'm up on bitcoin and he asked me why I'm not selling... you guys know why, I told him there's no limit to the BTC price and things are looking good especially when the rest of the world isn't, and he's been reading up on bitcoin since

[abercrombie]

bitcoin, may it rest in pieces.

2009-2017 rip

[Torque]

bitcoin, may it rest in pieces.

2009-2017 rip

I think is it pretty hilarious that in the U.S. there are small and medium cap stocks that are just a volatile as the Bitcoin market, maybe more so, but have also shown a long term upward growth trend.  But for some reason these stocks never get mentioned in the same breath as bitcoin, in terms of them ever being "done" or "dead" when they dump 10-20% or more.  In fact, the news media largely ignores them.

Never have I seen a security such a Bitcoin where FUD and fake stories are used so heavily and so often.  Don't they realize that it doesn't work yet?  People around the world are ignoring the FUD, buying and holding anyway for a long term investment and store of value.

[jbreher]

So given what you know you tell me if the drop from $1160 to $790 was justified over the China news alone.

Of course not. But Bitcoin is too thinly traded, and too overwhelmingly owned by ignorant basement-dwelling neckbeards ^[tm] to be ruled by logic.

And also, my dad wants to put $30K into bitcoin

Isn't it better this way, rather than borrowing it for one purpose, and sneakily putting it into BTC instead?

[alphahacktivist]

self quote

https://bitcointalk.org/index.php?topic=178336.msg17465395#msg17465395

this is all very normal.

consider looking at Jan- March 2016 and see the pattern

[Elwar]

And also, my dad wants to put $30K into bitcoin, you're welcome. Actually I didn't even convince him, I showed him how much I'm up on bitcoin and he asked me why I'm not selling... you guys know why, I told him there's no limit to the BTC price and things are looking good especially when the rest of the world isn't, and he's been reading up on bitcoin since

If you're in the US have your dad purchase through itBit. I've found that anything over $5,000 is best to go through them. You have to pay for the wire transfer but the lower exchange percentage makes up for it over $5k.

[Dafar]

And also, my dad wants to put $30K into bitcoin, you're welcome. Actually I didn't even convince him, I showed him how much I'm up on bitcoin and he asked me why I'm not selling... you guys know why, I told him there's no limit to the BTC price and things are looking good especially when the rest of the world isn't, and he's been reading up on bitcoin since

If you're in the US have your dad purchase through itBit. I've found that anything over $5,000 is best to go through them. You have to pay for the wire transfer but the lower exchange percentage makes up for it over $5k.

Thanks for the tip

[Lionidas]

It is funny how this huge selling off in another part of the world is causing such a commotion all the way where I live.
This is like some end of days stuff for the ones that have 200 btc I would guess to think.
The ones who bought houses during the rally must be living the dream and just laughing right now.

[elrippo]

As long as the chinese "Centralbanks" review BTC everytime it hits the 1k$/€ mark, BTC will never hit the xk$/€ mark since there will always be some derpession because of the "investigation"

[roslinpl]

I predicted China thing few weeks ago
I told to my friends - "It seems like China will ban Bitcoin soon"
It happens every time ... every time when the price is going up too fast

https://www.youtube.com/watch?v=-hlN2nel5HI
Inspiring
(watch the video )




HODL and BUY