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

[toknormal]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[MinermanNC]

Well good morning, I see the price is right where it was yesterday when I posted saying that we are stable 

Yes I really think we are seeing China's woes have less and less an impact. I think Bitcoin is just to big now and people / investors have wised up and are not having knee jerk reaction to everything we hear and read from over there.

Now lets get back to 1000.00! I think we will 

[jaberwock]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

Trump being elected the US president was considered something with very small chance, according to the experts, too. After their fiasco I will never trust a expert when he says something is highly unlikely, better draw your own conclusions

[promomei]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

funny you 

[Cassius]

I would also give more credence to an outfit with more than 22 followers.

[BrewMaster]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

[600watt]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

i have seen bitcoin entering a multiyear downtrend based on a china ban that never existed. 

[Torque]

Shower thought:

The best way for the PBoC to keep Yuan in China is to sponsor/endorse the launch of their own Mainland China-based Bitcoin ETFs.

[JimboToronto]

Good morning Bitcoinland.

Still going sideways after yesterday's PBOC-induced dip... currently $972USD (Bitcoinaverage).

It looks like it might take another day or two to get back over $1000 but it might surprise us.

It's interesting to note that "Bear"stamp is leading the pack. The times they are a-changing.

[drnash85]

Shower thought:

The best way for the PBoC to keep Yuan in China is to sponsor/endorse the launch of their own Mainland China-based Bitcoin ETFs.

If that happens, even the wallets that are holding 100 sats will become millionaires overnight.

[Moria843]

It will be a pleasant surprise to go over $1k again SOON with all that's going on

[bitcoinvest]

Good morning Bitcoinland.

Still going sideways after yesterday's PBOC-induced dip... currently $972USD (Bitcoinaverage).

It looks like it might take another day or two to get back over $1000 but it might surprise us.

It's interesting to note that "Bear"stamp is leading the pack. The times they are a-changing.

Things are very fragile at the moment... This surprise you say can be at about $800 - $850 new bottom and then recover from that point.

EDIT: in March we have ETF, we have also MtGox Creditors meeting lol

[gentlemand]

i have seen bitcoin entering a multiyear downtrend based on a china ban that never existed. 

I'd say it was partly inspiration for an outrageous overshoot that was inevitably going to deflate horrifically anyway.

Anyone offering odds on an ETF approval is just pissing into the wind. Still, if people can make money then why not?

[HI-TEC99]

It will be a pleasant surprise to go over $1k again SOON with all that's going on

It probably won't be long.

Only one of the other exchanges besides Huobi and OKCoin will suspend Bitcoin and Litecoin withdrawals.

The others are making minor AML changes like stopping people depositing yuan, then buying and withdrawing Bitcoin in under 48 hours.

OKCoin was fined for AML violations last year, so its shit itself and taken an extreme course of action.

The western exchanges like Poloniex or the Kraken introduced withdrawal limits for tiered verification levels to combat AML. The Chinese exchanges are just following their example, most won't be suspending Bitcoin and Litecoin withdrawals.

http://www.coindesk.com/chinese-exchanges-will-delay-bitcoin-withdrawals/

Notably, the policies issued differ from the more stringent halt of bitcoin and litecoin withdrawals imposed by Huobi and OKCoin, which will stop these services for one month. Only CHBTC indicated it would suspend bitcoin and litecoin withdrawals for this duration.

In statements issued by BTCTrade, BTC100 and HaoBTC, the exchanges said that bitcoin and litecoin withdrawals would now be delayed, though they did not indicate they would halt any services.

All indicated yuan deposits and withdrawals would be unaffected, and that anti-money laundering (AML) upgrades were the impetus for the decision.

HaoBTC noted that its new policy was implemented to restrict the ability of its wallet users to deposit yuan, buy bitcoin and then send the digital currency within 48 hours.

[marcus_of_augustus]

This latest spike down due to PBOC FUD has some very interesting parallels with the SilkRoad take down Sept. 2013 spike before the Oct. 2013 mark-up event. Firstly it is happening at a very similar point in timing of the adoption wave fractal around/near testing previous ATH. The first waves $2-32 and $12-266 were arguably due to demand created by SR and associated activities/hype/speculation then when SR got taken down and bitcoin powered on the new meme was China ... then that topped with the PBOC bans, Mt. Gox, etc. This final spike low is the handing off the China meme and proves bitcoin doesn't need China any longer because it now has a new scale of demand coming onstream .... the ETF or institutional demand speculation meme is taking over the reins from China at the same point in the cycle in the same way as China took the reins off Silk Road. One final spike down and then everyone realise Silk Road/China is no longer the driving demand force anyway .... and away it goes.

[machasm]

This latest spike down due to PBOC FUD has some very interesting parallels with the SilkRoad take down Sept. 2013 spike before the Oct. 2013 mark-up event. Firstly it is happening at a very similar point in timing of the adoption wave fractal around/near testing previous ATH. The first waves $2-32 and $12-266 were arguably due to demand created by SR and associated activities/hype/speculation then when SR got taken down and bitcoin powered on the new meme was China ... then that topped with the PBOC bans, Mt. Gox, etc. This final spike low is the handing off the China meme and proves bitcoin doesn't need China any longer because it now has a new scale of demand coming onstream .... the ETF or institutional demand speculation meme is taking over the reins from China at the same point in the cycle in the same way as China took the reins off Silk Road. One final spike down and then everyone realise Silk Road/China is no longer the driving demand force anyway .... and away it goes.

I have been meaning to ask Marcus.
What does the mathematical equation represent in your avatar?

[JayJuanGee]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

i have seen bitcoin entering a multiyear downtrend based on a china ban that never existed. 

That is because you give the wrong explanation the the multi-year downtrend event.

The downtrend that you discuss from 2014 to 2105 was not caused by china ban.. (or non existent china ban, as you call it)

[r0ach]

The Chinese govt will not divide us.....from silver going up

[marcus_of_augustus]

The Chinese govt will not divide us.....from silver going up

isn't this altcoin pumping?

[jbreher]

Earwig. Low.

Stakes raised. Price targets now $3,678 or $551. Take your pick

[im g]https://i.imgur.com/KuGbyuR.png[/img]

how can bitcoin price drop down, and not only drop down small but drastically to 500 range only because of something that never existed and gets denied for existence!!!
that makes no sense.

If one believes that expectations of ETF approval are already partly priced-in, it makes perfect sense.

I make no statement as to the probability of the precedent conjecture.