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

[Spaceman_Spiff]

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Only short term, in the long run, I think market cap is a very useful measure (it might only take a small amount of money to push up a market cap by a big amount, but then you are counting on people not cashing out, which might not happen short term, but long term.... )

[GreekGeek]

how about that 1000 USD per BTC party guys?
when and where will it take place?

[cmacwiz]

how about that 1000 USD per BTC party guys?
when and where will it take place?

Does anyone have a sailboat in SF bay? I am good crew!

[BTCtrader71]

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Only short term, in the long run, I think market cap is a very useful measure (it might only take a small amount of money to push up a market cap by a big amount, but then you are counting on people not cashing out, which might not happen short term, but long term.... )

haha we think alike:

<snip>

<snip>

<snip>

There are two ways to think about the relationship between market cap and how much "real money" is invested into bitcoin.

1) short term. ECB is correct to point out that an injection of 25 billion dollars of "real money" would drive the price to the moon in the short term, due to liquidity issues.

2) long term. If you think in terms of steady state conditions, then cmacwiz's reasoning makes perfect sense.

[Meuh6879]

on bitaverage, ATH is passed : https://bitcoinaverage.com/en/bitcoin-price/btc-to-usd#

[JimboToronto]

Another day has ended (UTC) and left behind an extremely short red candle, only our second in 12 days.

The last red one was extremely short too. As long as the green candles are longer and more numerous than the red ones, Bitcoin is right on track.

[blockcha1n]

so what exactly is the new official ATH? as of right now 2/24/2017 at 6:55pm EST. I googled 1186 .  Did it not break 1200?

thank you gentlemen...

over $1220 on bitfinex and bitstamp. i think bfx hit $1222.

the mt.gox ATH is already not broken.

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

[European Central Bank]

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

yep. it's a horseshit figure. gox did not function as a normal exchange at the time. you couldn't get usd out so that's why the price was higher as bitcoin was the only way to withdraw.

i don't understand why anyone takes it seriously. it would still be cool to take it down all the same.

[Meuh6879]

Another day has ended (UTC) and left behind an extremely short red candle, only our second in 12 days.

The last red one was extremely short too. As long as the green candles are longer and more numerous than the red ones, Bitcoin is right on track.

It's a test.








The goal of the next is to ram at 800 USD ... and build the 1000 USD border (after the dead cat bounce).

[strawbs]

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

yep. it's a horseshit figure. gox did not function as a normal exchange at the time. you couldn't get usd out so that's why the price was higher as bitcoin was the only way to withdraw.

i don't understand why anyone takes it seriously. it would still be cool to take it down all the same.

I also wish we would pass the Gox ATH, if only so that this question doesn't keep on getting asked here every few pages.

[blockcha1n]

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

yep. it's a horseshit figure. gox did not function as a normal exchange at the time. you couldn't get usd out so that's why the price was higher as bitcoin was the only way to withdraw.

i don't understand why anyone takes it seriously. it would still be cool to take it down all the same.

So it is not an official ath. That explains it then. Thanks for that enlightenment on the situation that mt.gox has caused for this high.
Yes I agree just make it go away so there won't be anymore misinformation about it while doing searches on the net.
It will be broken soon anyways. So it will be just a distance memory.
Or more like a bad dream that is deserving to end quite quite soon.
Atleast we are all hoping for that moment in the coming hours of the night. And awaken to a new dawn of an all new ath. To also remember as the real one once and for all to see and to bask in it's glory.

[blockcha1n]

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

yep. it's a horseshit figure. gox did not function as a normal exchange at the time. you couldn't get usd out so that's why the price was higher as bitcoin was the only way to withdraw.

i don't understand why anyone takes it seriously. it would still be cool to take it down all the same.

I also wish we would pass the Gox ATH, if only so that this question doesn't keep on getting asked here every few pages.

Just wait for it. It's coming. It's only a matter of moments away.
Then it can be put a top a pedestal like the star on top of the Christmas tree.
Just like in how the Grinch stole Christmas books.
That would be a magnificent animated gif to behold on this very forum to see when it does happen.
I just wish someone would do that for all of use who have waited for so long to see the true ath to be achieved and banish away that awful Grinch (Mt.Gox) from our minds forever.

[JimboToronto]

how about that 1000 USD per BTC party guys?
when and where will it take place?

I thought it was deferred until we hit $10,000.00. Celebrating a grand is so 2013.

Unless you have 1000 coins it's not even a million bucks, and what does a million dollars buy you nowadays? It barely buys a small house or crappy little condominium downtown in any major city. Maybe a new boathouse and small boat for the cottage.

At $10,000 per coin 1000 coins actually makes you almost rich and even anyone with a few hundred coins becomes a multi-millionaire.

Let's set our sights a little higher.

 

[Torque]

how about that 1000 USD per BTC party guys?
when and where will it take place?

I thought it was deferred until we hit $10,000.00. Celebrating a grand is so 2013.

Unless you have 1000 coins it's not even a million bucks, and what does a million dollars buy you nowadays? It barely buys a small house or crappy little condominium downtown in any major city. Maybe a new boathouse and small boat for the cottage.

At $10,000 per coin 1000 coins actually makes you almost rich and even anyone with a few hundred coins becomes a multi-millionaire.

Let's set our sights a little higher.

 

[WestWorld]

Dere's Da Cap!

Cheers to you good man!
Was waiting for em to show up fo congratulate es all on the ATH reached!

Good show m' man! Good show indeed!

[Ibian]

Not feeling much excitement. In spite of the price being the highest ever. Which tells me we are just getting started.

[Fakhoury]

Not feeling much excitement. In spite of the price being the highest ever. Which tells me we are just getting started.

Same here, it felt like as if you are playing a video game and with that ATH you've killed the final boss and it's game over and credits are scrolling down the screen.

Although we are just starting I know, but this is my feelings nowadays 

[bitcoinminer42]

Not feeling much excitement. In spite of the price being the highest ever. Which tells me we are just getting started.

Same here, it felt like as if you are playing a video game and with that ATH you've killed the final boss and it's game over and credits are scrolling down the screen.

Although we are just starting I know, but this is my feelings nowadays 

... and then u've discovered.... it just was the first stage 

[Searing]

But I always thought their number of an ath was not acknowledged by the bitcoin community to be the real high. But a false one because it was pumped out of proportion to be justified as the ultimate ath.

yep. it's a horseshit figure. gox did not function as a normal exchange at the time. you couldn't get usd out so that's why the price was higher as bitcoin was the only way to withdraw.

i don't understand why anyone takes it seriously. it would still be cool to take it down all the same.

I also wish we would pass the Gox ATH, if only so that this question doesn't keep on getting asked here every few pages.

Yeah....I wish that as well...it is annoying.....the press imho WON'T mention beating the ATH on BTC till that mt. gox price is breached imho. NPR radio tech talk had nothing
on bitcoin going over ATH that was non gox...but man it dumps like 40 bucks and they report that!

on that thread ..now that we are at an all time high and the press has got its eyeballs to its papers and web sites from the 'yea we want btc to work crowd'

now the press says...let the FUD begin so we can get the eyeballs to our newspapers and web sites from the "it is gonna go tulips!' crowd

so the fud begins...not this fine piece of yellow journalism the title says it all (at least he is NOT subtle!)


http://gizmodo.com/bitcoin-all-time-high-1792712406

my view below in 'meme speak'

[Spaceman_Spiff]

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Only short term, in the long run, I think market cap is a very useful measure (it might only take a small amount of money to push up a market cap by a big amount, but then you are counting on people not cashing out, which might not happen short term, but long term.... )

haha we think alike:

<snip>

<snip>

<snip>

There are two ways to think about the relationship between market cap and how much "real money" is invested into bitcoin.

1) short term. ECB is correct to point out that an injection of 25 billion dollars of "real money" would drive the price to the moon in the short term, due to liquidity issues.

2) long term. If you think in terms of steady state conditions, then cmacwiz's reasoning makes perfect sense.

Great minds huh  .  Funny that I overlooked your post (I guess because I was a bit drunk).