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

[Killerpotleaf]

bonkers market looking to go back up to 1200

You are advising the all-in guy with wifey problems to sell, and 2 minutes later you post this?
Before you said that we will see 950 USD by midnight? And then accepted a bet that we will have "<975 by monday 00:00"?
I have a fiat transfer arriving at an exchange only on Monday, too.
But please share the stuff you are smoking. I'll take the buds, not the leaves...

ya i think market is wrong in trying to recover from this so fast, 1200 is NOT on the table. hence the facepalm gif at the thought of returning to 1200.
fuck ya he should sell some.
not only do i think <975 by monday will be easily achieved, i dont expect price to hold above 1000$ tonight.
i'm on my second pack of smokes today ( its been a wild ride. )

[r0ach]

Are we rich now?

This is gentlemen

[Punisher1314]

Price tested the original uptrend (oct 2016) and sub 1000$ support and rebounced pretty fast. If it does not go down until tomorrow, it is very possible bitcoin will recovery itself steadily and continue its cycle. The ETF  was going to make us rich in few days if approved but it was not to fuck it entirely because a denial. Bitcoin is stronger than that.

[Roccker]

From 1200 to 1140 right now -  and in-between a roller coaster

[bitserve]

So... Where are all the huge dumps and bounces? Only one?

I guess this a much smaller impact than everyone was predicting. Maybe the big correction and pump before the decision contributed to clear a lot of leverage and cushioned the dump?

[European Central Bank]

So... Where are all the huge dumps and bounces? Only one?

I guess this a much smaller impact than everyone was predicting. Maybe the big correction and pump before the decision contributed to clear a lot of leverage and cushioned the dump?

it's gonna take a while to digest. i think there are some big bags waiting to unload. maybe they're waiting for bids to build up again and some false security to develop.

[BitcoinNewsMagazine]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

[bitserve]

So... Where are all the huge dumps and bounces? Only one?

I guess this a much smaller impact than everyone was predicting. Maybe the big correction and pump before the decision contributed to clear a lot of leverage and cushioned the dump?

it's gonna take a while to digest. i think there are some big bags waiting to unload. maybe they're waiting for bids to build up again and some false security to develop.

Maybe. But the fact is that we are right now at the same level of the bottom of the correction we were... just two days ago!

Add that many people already dumped or were already out before the decision and waiting for reentry.

Who knows... but it doesn't look terribly ugly to me.

[BitcoinNewsMagazine]

From 1200 to 1140 right now -  and in-between a roller coaster

Sexy buy zone is $1010 - $1060

[European Central Bank]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they have to say no to it. however, they could've figured this out within a couple of hours of receiving the application all those years ago.

[leowonderful]

Price tested the original uptrend (oct 2016) and sub 1000$ support and rebounced pretty fast. If it does not go down until tomorrow, it is very possible bitcoin will recovery itself steadily and continue its cycle. The ETF  was going to make us rich in few days if approved but it was not to fuck it entirely because a denial. Bitcoin is stronger than that.

Chances are some people didn't unload all of their BTC before the dump happened, if so we could be dropping right down again in a few hours. Not as bad as people were expecting but it's still unclear what's going to happen in the next few hours.

[Killerpotleaf]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they're obligated to say no.

the SEC's "reasoning" is more of a lame excuse then anything else.

chinese exchanges are in the process of being regulated
all the major USD exchanges fallow KYC/AML regulations, a lot of them have a "bitlicense"
Gemini itself has a STUPID FUCKING bitlicense.
If there job is to "protect investors" one good way they could have done that is by allowing an ETF.
we expected a fair assessment, and they fucked us.

[r0ach]

we expected a fair assessment, and they fucked us.

ETF isn't even a good thing for bitcoin.  It's in fact totally pointless for bitcoin to have an ETF.  The only purpose the ETF serves is an exit scheme for the Winklevoss.  Now they have 200,000 coins they need to dump on a bunch of insolvent and illiquid exchanges unless they can find OTC buyers.

[pleaseexplainagain]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they're obligated to say no.

the SEC's "reasoning" is more of a lame excuse then anything else.

chinese exchanges are in the process of being regulated
all the major USD exchanges fallow KYC/AML regulations, a lot of them have a "bitlicense"
Gemini itself has a STUPID FUCKING bitlicense.
If there job is to "protect investors" one good way they could have done that is by allowing an ETF.
we expected a fair assessment, and they fucked us.

I think you were expecting way too much.

The SEC like any regulator of anything wants to be able to see what is happening in a market so that bad things can be stopped etc. It is correct in its assessment that bitcoin is still the wild west so it is no surprise it has rejected the ETF. Most of us expected this judging by the comments posted on the forum over the last few months.

Since they seem to reject Gemini as a market (as the report author mentions) then it seems the Winklies ETF may be fundamentally doomed. And as Bitcoin is unlikely to agree to become more regulated anytime soon and since one of the key reasons many people buy it is because they hate centralisation etc. then we should not be expecting anyone's ETF to be approved for a very long time if ever.

[Killerpotleaf]

we expected a fair assessment, and they fucked us.

ETF isn't even a good thing for bitcoin.  It's in fact totally pointless for bitcoin to have an ETF.  The only purpose the ETF serves is an exit scheme for the Winklevoss.  Now they have 200,000 coins they need to dump on a bunch of insolvent and illiquid exchanges unless they can find OTC buyers.

i thought they only had 100K

[Dafar]

we expected a fair assessment, and they fucked us.

ETF isn't even a good thing for bitcoin.  It's in fact totally pointless for bitcoin to have an ETF.  The only purpose the ETF serves is an exit scheme for the Winklevoss.  Now they have 200,000 coins they need to dump on a bunch of insolvent and illiquid exchanges unless they can find OTC buyers.

lol it's the uninformed jew shill


ETF denial just prevented many people and organizations from acquiring Bitcoin in their portfolios. It definitely would have been a good thing for bitcoin. Why the hell would the Winklevoss unload their own BTC when ETF would dry the supply even further and naturally rise the price

[spooderman]

please someone quote me:

the ETF is nothing but trouble for bitcoin. best case: it fails, we crash and recover.

nice 

[Killerpotleaf]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they're obligated to say no.

the SEC's "reasoning" is more of a lame excuse then anything else.

chinese exchanges are in the process of being regulated
all the major USD exchanges fallow KYC/AML regulations, a lot of them have a "bitlicense"
Gemini itself has a STUPID FUCKING bitlicense.
If there job is to "protect investors" one good way they could have done that is by allowing an ETF.
we expected a fair assessment, and they fucked us.

I think you were expecting way too much.

The SEC like any regulator of anything wants to be able to see what is happening in a market so that bad things can be stopped etc. It is correct in its assessment that bitcoin is still the wild west so it is no surprise it has rejected the ETF. Most of us expected this judging by the comments posted on the forum over the last few months.

Since they seem to reject Gemini as a market (as the report author mentions) then it seems the Winklies ETF may be fundamentally doomed. And as Bitcoin is unlikely to agree to become more regulated anytime soon and since one of the key reasons many people buy it is because they hate centralisation etc. then we should not be expecting anyone's ETF to be approved for a very long time if ever.

its not like its 2014 anymore.
exchanges only really started paying serious attention to KYC/AML 2 or 3 years ago
like i say exchanges like coinbase have gotten the appropriate bitlicenses.
and i'm sure most of them have jumped through all kinds of regulatory hoops all over the place.
sure the chinese exchanges are playing catch up just now,  but wtv..

an ETF might have become the price setter pretty quickly... and having that exchange answering directly to the SEC, would have gone a Long way into providing a safe regulated bitcoin market.

they didn't make this decision with the best interest of the investor in mind, they had orders from the illuminati!

[Killerpotleaf]

what the, Oh shit, OH FUCK! i sold the bottom!

[Ibian]

So in summary, we are never going below 1k again. This has been a productive day.