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

[JayJuanGee]

I have a feeling that we are in a bull trap phase  

Does your "feeling" come from the fact that you sold your bitcoins in the lower $1200s?  

Sorry for your loss.

You may be able to buy some "cheap coins" now, before you get left behind any further.


In other words, we are continuing to experience a lot of buying support and a lot of continued upwards price pressures.

The source of such upwards BTC price pressures remains unclear, but it seems a bit widespread and maybe even "organic"... hahahahahaha..

GREAT!!!!!  

Bitcoin is in a great place with a 20 day streak of ATH daily weighted average prices - and we have to break below $1,132 before the streak of ATHs stop... .. Quite amazing place to be for bitcoin!!!!

And Why do you say so? Im looking at the chart and I can see that we are fconstantly fighting with resistance in uptrend. There is pretty big possibility that we will break it and btc drops

80% of people here are PERMABULLS and do just 1 thing, they post "HODL", "sorry for your loss, get cheap coins" or "up, up, bulls!". What is the purpose of such posts? When you have nothing to support your theory why you even write?

Well, if you view 80% of posters here as delusional, then you might be missing some interesting, relevant and material facts about bitcoin, no?

If you are attempting to look at bitcoin as if it were a mature industry,then you are missing something.

Have you ever heard of s curve adoption phases, networking effects and concepts like that?

Have you ever heard about paradigm shifting technologies, such as bitcoin, that is unparralleled in the world - and that is a secure decentralized immutable form of value storage and transfer.  Currently, there are no other systems in the world that even come close to approaching bitcoin in that regards.

Sure, we could experience some additional downwards correction and downwards price movements, but the reality of the matter seems to be that there continue to be ongoing upwards price pressures based on the some of the concepts that I describe above.

You can consider that as delusional or out of touch with reality all that you want, but that is likely your own delusion rather than those folks who you are characterizing as 80% of this thread.

Good luck to you with your pessimistic view and your overselling and insufficient buying of bitcoin.. hahahahahhaha   

[becoin]

Why are all BUcoiners so eager to cripple Bitcoin? Didn't they learn anything from XT and Classic scams? Don't short Bitcoin! Period!

[york780]

volume : 0 for the last 10 minutes  Never saw this before

[BinaryReign]

Good morning Bitcoinland.

Yet another day of creeping gently upward... currently $1257USD (Bitcoinaverage).

This will never get boring for those of us who are more interested in Bitcoin than in merely trading.

It's hard not to notice that those who seem to be permabulls and advocate holding tend to be members of long standing, sometimes with sizeable holdings, while those constantly posting TA charts and advocating frequent buying and selling tend to be noobs, often with negligible holdings.

To me it seems that the former are more interested in Bitcoin, while the latter are more interested in trading.

I suppose some day I should download and watch "Wolf of Wall Street" just to see what all the references are about. I recommend that perhaps the traders should watch "The Rise and Rise of Bitcoin".

I, like others, look forward to your posts like these, thank you!

Haven't seen Wolf of Wall Street myself, but I have already seen "The Big Short". Everyone who reads or posts here should see that at least once, totally relevant, in fact, I think that someone here already said this, and that's why I watched it lol  

[york780]

Wolf of Wallstreet is a good movie, quite funny. Great storyline.

[Arcteryx]

That looks very German - 'wohnen'  

Blessed are those who can read...  

Edit: The "Neueröffnung" does indeed look very German though. 

So this is where the spelling for it came from.
I always envy the German ingenuity for their grammar correction.

volume : 0 for the last 10 minutes   Never saw this before

It is very stagnant right now with nothing happening. I think the Chinese exchanges are at a stand still right now.
So nothing is happening to cause anything to make it drop or rise.

[york780]

Its atechnical issue, i use cryptowatch to analyse the volume and price etc and cryptowatch just crashed i think.

[podyx]

Altcoins just keep rising smh

[becoin]

Writing the new financial history. Correcting old trader manuals:

Martin Zweig once said that you should never fight the Fed Bitcoin. That is, never bet against a determined Central Bank Enslaved Crowd. If we’ve learned anything over the last 7 8 years it’s that Zweig’s comment is a lot more right wrong  than wrong right.

[Torque]

Altcoins just keep rising smh

Funny, over the years I've observed a pretty repeatable pattern with alt coins:

1) What always precedes an altcoin's parabolic rise is delusion and hubris

2) What always follows it is:
- a mega crash, usually caused by a hack, serious flaw, unknown bug, insider theft, etc.
- a community left in shock, disbelief
- finally acceptance
- and then an excruciatingly slow decent into eventual quiet irrelevance

 

[gentlemand]

Funny, over the years I've observed a pretty repeatable pattern with alt coins:

1) What always precedes an altcoin's parabolic rise is delusion and hubris

2) What always follows it is:
- a mega crash, usually caused by a hack, serious flaw, unknown bug, insider theft, etc.
- a community left in shock, disbelief
- finally acceptance
- and then an excruciatingly slow decent into eventual quiet irrelevance

 

Hmm. I think it's a constantly changing thing. The first alt bubble in 2013 really was a shit show. I'm not sure there's a single coin from back then that ever recovered.

The current crop are a bit more resilient. It's getting to a point where if you just sit there you'll eventually get your money back. I think that's all down to Poloniex really rather than any 'fundamentals'.

The appetite for bonkers gains from alts is bottomless. Bitcoin needs to progress beyond the level it's at now to differentiate itself enough. The ETF would've done it. I think that's the cause for the alt pump.

[BrewMaster]

Altcoins just keep rising smh

another big drama is circling bitcoin like last year and they are using this to their own advantage. in fact that is how Ether rose to the moon the first big pump! and they (ether and others) are doing it again...

[kurious]

Funny, over the years I've observed a pretty repeatable pattern with alt coins:

1) What always precedes an altcoin's parabolic rise is delusion and hubris

2) What always follows it is:
- a mega crash, usually caused by a hack, serious flaw, unknown bug, insider theft, etc.
- a community left in shock, disbelief
- finally acceptance
- and then an excruciatingly slow decent into eventual quiet irrelevance

 

Hmm. I think it's a constantly changing thing. The first alt bubble in 2013 really was a shit show. I'm not sure there's a single coin from back then that ever recovered.

The current crop are a bit more resilient. It's getting to a point where if you just sit there you'll eventually get your money back. I think that's all down to Poloniex really rather than any 'fundamentals'.

The appetite for bonkers gains from alts is bottomless. Bitcoin needs to progress beyond the level it's at now to differentiate itself enough. The ETF would've done it. I think that's the cause for the alt pump.

Just noticed on Coinmarketcap that BTC dominance has slipped a little to 78.9%.

Since alts are mostly bought with BTC, but BTC has not dropped, it implies more money is coming into the market, but going (perhaps via BTC) directly to alts.

Dash and ETH seem to be doing best out of it, Monero keeping up, but Dash has gone near-parabolic up to nearly $100.

Sooner or later this surely must come tumbling back down - it's doing 30% a day....

There will be tears.

[Kramerc]

My eye-balled target for btc dominance is ~70% before making a strong recovery. Timing is difficult but buying alts during bitcoin's calmness sounds like a good plan.

Once btc starts moving again, I expect alts to go back down.

[Torque]

The appetite for bonkers gains from alts is bottomless. Bitcoin needs to progress beyond the level it's at now to differentiate itself enough. The ETF would've done it. I think that's the cause for the alt pump.

Like I said earlier in this thread, all the shark trader $$$ that were ready to trade a bitcoin "pump" on the ETF news didn't get what they were hoping for.  So they decided to pump that cash on margin into a few of the latest 'new-whiz-bang' altcoins instead, hoping to whip narrow-minded n00bs into a get rich quick frenzy. And the pumpers always have a known 'crash reason' in their back pocket before doing the pumping (e.g. hack, flaw, etc.), so they can mega short on the way down.

But we've seen this all a million times before with other alts (Steem anyone? Nxt anyone? Blackcoin, Darkcoin anyone? Dogecoin anyone?).  I think the overall crypto community is much older and wiser now.  They see the patterns and the cons now.

[sAt0sHiFanClub]

Funny, over the years I've observed a pretty repeatable pattern with alt coins:

1) What always precedes an altcoin's parabolic rise is delusion and hubris

2) What always follows it is:
- a mega crash, usually caused by a hack, serious flaw, unknown bug, insider theft, etc.
- a community left in shock, disbelief
- finally acceptance
- and then an excruciatingly slow decent into eventual quiet irrelevance

 

And how do you see bitcoin being any different, considering the overwhelming instinct of those involved to absolutely screw each other over?

[gentlemand]

But we've seen this all a million times before with other alts (Steem anyone? Nxt anyone? Blackcoin, Darkcoin anyone? Dogecoin anyone?).  I think the overall crypto community is much older and wiser now.  They see the patterns and the cons now.

If alts survive and stick around long enough they'll breed their own holders. There are blatant one time orgasms like Blackcoin but there are ETH and XMR fans who've been into it for years now and probably won't be going anywhere else.

The fiat/BTC derision has a very similar flavour to the BTC/alt derision which is a little unseemly. It's still very much a developing landscape. Lots could happen.

[Holliday]

First of you loudmouths harping about 'crappy BU code' who can actually exploit this so-called weakness is welcome to my stacks.

I have no idea what your jurisdiction is, but aren't you encouraging someone to break the law here? Which... again depending on your jurisdiction, may also be illegal.

My (admittedly drunkenly-expressed) point is... in the grand scope of things, this bug was inconsequential. The only thing at risk was connectivity. Yeah, it was an issue. Now its over. We move on. So what?

I think, in the grand scope of things, the way the bug was handled is the bigger issue (even though the bug itself was terrible). Every step of the way BU handled the situation poorly. The code was apparently barely reviewed in the first place. Publishing the fix on a public technical platform, such as github, does little to warn the actual users, while highlighting the issue for any savvy malevolent attackers! What was BU's plan to inform users, after-the-fact ridicule memes on r/Bitcoin? Then... they have the nerve to blame Core for their own fuck up. This is hardly inconsequential.

It's a shit show, and I'm expected to trust these people with the Bitcoin network?

[Killerpotleaf]

I'm expected to trust these people with the Bitcoin network?

this is the problem... you shouldn't have to trust anyone with the Bitcoin network, the network should be able to choose what it wants, not what one team wants.

you're looking for someone to trust, obviously its easier to TRUST core more than BU devs, this is perfectly rational, they have dozens more devs, and these devs have been at it for twice as long as BU devs.

but we shouldn't trust any of these people( BU or Core), we should trust in the network to be able to pick and choose between BIP these teams produce, and NOT trust a team to choose whats best for the network.

we need dev teams with competing interest to produce different proposals, the more we have to choose from the better!

[sAt0sHiFanClub]

Funny, over the years I've observed a pretty repeatable pattern with alt coins:

1) What always precedes an altcoin's parabolic rise is delusion and hubris

2) What always follows it is:
- a mega crash, usually caused by a hack, serious flaw, unknown bug, insider theft, etc.
- a community left in shock, disbelief
- finally acceptance
- and then an excruciatingly slow decent into eventual quiet irrelevance

 

And how do you see bitcoin being any different, considering the overwhelming instinct of those involved to absolutely screw each other over?

Because the shark scammers that PnD'ed Bitcoin in the beginning years have run out of hacks, flaws, DDoS attacks, media-created FUD, etc. to work with. Bitcoin is more rock-solid, distributed, and secure now than it has ever been in its 8 year history. The only thing they have left is to try and divide the community and slow things down.

But that's losing it's effectiveness now too.

Ask James Hilliard. If you think bitcoin doesnt contain zero day vulnerabilities, think again.
And thats not even getting into the general network fuckery that any sizeable player (like James in conjunction with random hackers) can bring into play.
It only workes when the invested are making money. screw everyone else.