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

[BitcoinHodler]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

i think this story not find readers any more they will come up with something new maybe they will try to promote disapproval of the ETF as a catastrophe (if it will not get approved)but we all know, no matter what, Bitcoin road long term is only UP!

Indeed. I'm considering shorting before the allegedly 'catastrophic' ETF news causes the inevitable selling, just so I can accumulate more coins prior to the impending shot at the moon!

although this is such an iffy strategy but this is also my thoughts.
i am waiting for the "possible" ETF failure and the FUD that will surely come with that. and these times are excellent for this type of trading to get a shitloads of profit while everyone is scratching their head thinking what happened

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[HI-TEC99]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

i think this story not find readers any more they will come up with something new maybe they will try to promote disapproval of the ETF as a catastrophe (if it will not get approved)but we all know, no matter what, Bitcoin road long term is only UP!

Indeed. I'm considering shorting before the allegedly 'catastrophic' ETF news causes the inevitable selling, just so I can accumulate more coins prior to the impending shot at the moon!

That's a huge gamble.

Everyone thought the US would ban Bitcoin before the last ATH, and people dumped in droves in the hope of buying back lower. When the US announced it had decided not to ban Bitcoin it immediately went to the moon leaving the dumpers crying.

If the ETF gets approved the dumpers will be crying while Bitcoin immediately moons, and if it doesn't get approved Bitcoin will moon sooner or later anyway.

[gentlemand]

You only need to know the "trend": Has the establishment / authorities, ever done anything to pump BTC? No. They have done exactly the opposite (hammering BTC with "negative news"). And BTC rises despite these.

I distinctly remember watching the price while US senators were making positive noises about BTC. It was reacting from sentence to sentence.

What some seem to regard as BTC's persecution is just the application of laws that exist with everything else. An ETF rejection won't be a grand political statement. They simply won't think that it cuts it at present as a safe enough asset class.

[ImI]

You only need to know the "trend": Has the establishment / authorities, ever done anything to pump BTC? No. They have done exactly the opposite (hammering BTC with "negative news"). And BTC rises despite these.

I distinctly remember watching the price while US senators were making positive noises about BTC. It was reacting from sentence to sentence.

What some seem to regard as BTC's persecution is just the application of laws that exist with everything else. An ETF rejection won't be a grand political statement. They simply won't think that it cuts it at present as a safe enough asset class.

gentlemand spot on as always. a welcome sanity in this tinfoilhat ridden environment. 

[xxxgoodgirls]

Congratulations everyone.

[GBattaglia]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

i think this story not find readers any more they will come up with something new maybe they will try to promote disapproval of the ETF as a catastrophe (if it will not get approved)but we all know, no matter what, Bitcoin road long term is only UP!

Indeed. I'm considering shorting before the allegedly 'catastrophic' ETF news causes the inevitable selling, just so I can accumulate more coins prior to the impending shot at the moon!

I think even if the ETF passes price might go down because so many are probably buying on the hopes that it will moonshot if it goes through. No moon, big sell off. Just my opinion. Granted we are pushing ATH now.

[jackjack]

[Denker]

what's currently the "official" ATH?

$1163 ? (Bitstamp 2013)

bitstamp ATH $1163
bitfinex ATH $1175
Gox ATH $1242

Everyone says the Gox ATH was manipulated, but at the highest price it's a big psychological barrier. I'll be happy if it takes another week to go above the bitstamp ATH. I expected more of a battle to get over $1100.

There's still a possibility of a pullback.So we could test the $1100 as a support.That is certain imo.
Will it hold then? I don't know.

[Torque]

You only need to know the "trend": Has the establishment / authorities, ever done anything to pump BTC? No. They have done exactly the opposite (hammering BTC with "negative news"). And BTC rises despite these.

I distinctly remember watching the price while US senators were making positive noises about BTC. It was reacting from sentence to sentence.

What some seem to regard as BTC's persecution is just the application of laws that exist with everything else. An ETF rejection won't be a grand political statement. They simply won't think that it cuts it at present as a safe enough asset class.

Sure, sure.  Just like the BitLicense, eh?   

Just playing a little devil's advocate with ya.

[Torque]

Also, remember kids:

FOMO is not a good reason to buy bitcoin. In fact, it is not a good reason to buy anything in life.

You have to believe in what you are doing.  Do the research.

[gentlemand]

Sure, sure.  Just like the BitLicense, eh?   

Just playing a little devil's advocate with ya.

Well, I'll try setting up a bank in New York state, see how it goes and then I'll get back to you.

[Torque]

Sure, sure.  Just like the BitLicense, eh?  

Just playing a little devil's advocate with ya.

Well, I'll try setting up a bank in New York state, see how it goes and then I'll get back to you.

Haha yeah I hear ya.

The thing is, I believe that the State rarely ever does anything to protect the people.  They pass legislation to a) protect themselves, and b) for their own good and for their own advantage.

To rig the system so that only the wealthy elite end up with all the BitLicenses is criminal, and that N.Y. state gets high "entry fees" for each one is also criminal.  It's extortion.

[gentlemand]

The thing is, I believe that the State rarely ever does anything to protect the people.  They pass legislation to a) protect themselves, and b) for their own good and for their own advantage.

Absolutely. And it applies to everything. I don't think Bitcoin is a special snowflake that they're out to 'get'. They're out to 'get' everything that isn't directly aligned with their own interests. And everyone has to pay to join the club.

[Searing]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

High, very high imho. That is press catnip when China does that. Easy gloom doom btc story to write
Then when btc pumps again they write the opposite piece to the moon. Rinse/Wash/Repeat.

Lots of eyeballs for both stories. Very little research needed but the over the top headline hook

[spooderman]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

High, very high imho. That is press catnip when China does that. Easy gloom doom btc story to write
Then when btc pumps again they write the opposite piece to the moon. Rinse/Wash/Repeat.

Lots of eyeballs for both stories. Very little research needed but the over the top headline hook

last banning had such a tiny effect. i think if governments want to fuck with bitcoin now they are going to have to raise their game somewhat.

[gentlemand]

What are the chances of another "China bans bitcoin for the 97th time" story sometime between now and $1242....

High, very high imho. That is press catnip when China does that.

But China isn't present to dump. It's hard to imagine what else they can roll out at this stage. Everywhere else is slowly disconnecting from China. Maybe a few Chinese folks have migrated to Japan for that zero fee fun so they'll have a go there, but not many people elsewhere seem to be paying Japan much attention right now.

[arcanaaerobics]

Thats a lawyer looking for your gold!

Run for your god living lives!

They come running after your ambulance as soon as they hear you have to claim for damages!
 

Now ATH is near they don't want gold but want to be paid in your BITCOIN instead!

Run for the hills mateys!

[JayJuanGee]

Supply and demand ... I'm not sure if ETF speculation has much to do with it at all, there seems to be exponential growth in multiple regions simultaneously, Japan, China, USA, Europe, India, maybe it's just time. Bitcoin has rekt lotsa wouldbe traders before, I'm sure it will do it again, it is unlike any market seen before, that is for sure.

Still targetting $1600-1800 by end of March to keep the exponential adoption growth wave bull run (beginning around $225 low) intact.

Crap...spent 4.5 btc on life issues....back to fiat it went......need to re-coup......of course it will now pump to $1,600 usd!

Oh well....good to have a goal....still should be OK from mining and get there in 3-4 months till EOL doorstop Titans anyway

messed my knee up.....car puked...etc....Life has a way of getting you when you are happy at your 100 btc ...blamo....that will show me...

Anyway even at 95.5 BTC that is still over 100k so go baby go....

(need life coach to be less of a klutz....sheesh)

As to the ETF my only hope is the new Trump administration is in such 'disarry' that maybe..just maybe...no action will be taken on ETF and it will slip through

doubtful..but if they are gonna drop the hammer why wait till march 11th to do so? (unless they want to knock down that pesky virtual coin BTC with that as a statement)

Having a goal to attempt to maintain a certain quantity of BTC reminds me of some of the dynamics of our current uptrend.

I know that when the price goes spurting up, I seem to end up selling a few percentages of my stash.. and then I start to worry that I do not have enough.. if the price continues to go up.  It is like losing 3-5% of your BTC stash starts to get worrisome - however, so far, in our run up from mid $200s to mid$1100s and then back to mid $700s and then back to lower $1100s, has caused me to recuperate a large number of those coins - and actually to have a bit of a bigger stash, each time when we make new highs.

On the other hand, I certainly have not yet had the experience of some of the folks who experienced those earlier outrageous exponential growth periods of 5x or 10x in a short period of time.. so those kinds of experiences would be more challenging to making sure that each of us hang on to a sufficient quantity of BTC.... in other words, don't sell too many. 

Now, if you have life or living expenses, then that might be another story - regarding having too much of your total finances tied up into BTC... especially if it causes you to sell at a time other than when you want to sell.

[JayJuanGee]

what's currently the "official" ATH?

1163$

no one cares about the fake ATH that gox did

I agree that $1163 is the number, yet I think that the reason that GOX does not matter is not so much about the artificial pump issue, but there was an issue regarding restricted (and almost no) ability to get fiat out of there.  So the GOX price was artificially way beyond the other exchanges, because you could not really cash out at that price and receive your cashed out money in fiat.. you had to send the cashed out money somewhere else (in bitcoin) to get the actual fiat.. which really means that the higher GOX price was not realizable in the real world.

[ImI]

what's currently the "official" ATH?

1163$

no one cares about the fake ATH that gox did

I agree that $1163 is the number, yet I think that the reason that GOX does not matter is not so much about the artificial pump issue, but there was an issue regarding restricted (and almost no) ability to get fiat out of there.  So the GOX price was artificially way beyond the other exchanges, because you could not really cash out at that price and receive your cashed out money in fiat.. you had to send the cashed out money somewhere else (in bitcoin) to get the actual fiat.. which really means that the higher GOX price was not realizable in the real world.

exactly, and thats why i call it "fake ATH". cause underlying were those withdrawal-issues that lead to those price differences. just like OKcoin today, only with different direction.