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

[Lauda]

Altcoins are absurd. 99% are scams, vaporware or have no use-case. This is a full blown out Tulip Mania: https://en.wikipedia.org/wiki/Tulip_mania ; Just a small heads up to those who do not know what happened with the Tulip bubble:


Back to the important stuff:

I think that part of my point was that the prediction range is so broad that it makes the prediction almost meaningless. 

I don't think he meant to speculate only anything other than that the bull trend is still present and that we're going up.

I don't really disagree with the sentiment though.. and it is possible that that prices could bounce within such a 15% price range throughout the upcoming week.

In case that you've missed this (which I find rather very important): https://fee.org/articles/bitcoin-is-less-volatile-than-the-euro/
Here are two nice website to track this:
https://www.buybitcoinworldwide.com/volatility-index/
https://bitvol.info/

[gembitz]

There is no resistance above.

^remember the first pump to$500===> bitcoin where is my $700 bitcoins ha

[BlindMayorBitcorn]

What exchange is that ETH dump based?

It happened on Karken I believe.

Edit: But they hit Polo at the same time, and dumped not just ETH but XMR and STR and half a dozen others.

[2017Bubble]

What exchange is that ETH dump based?

Kraken, got dossed lel

[BlindMayorBitcorn]

What exchange is that ETH dump based?

Kraken, got dossed lel

They both got dossed. It was a brilliant spectacle.

[gembitz]

Altcoins are absurd. 99% are scams, vaporware or have no use-case. This is a full blown out Tulip Mania: https://en.wikipedia.org/wiki/Tulip_mania ; Just a small heads up to those who do not know what happened with the Tulip bubble:


Back to the important stuff:

I think that part of my point was that the prediction range is so broad that it makes the prediction almost meaningless. 

I don't think he meant to speculate only anything other than that the bull trend is still present and that we're going up.

I don't really disagree with the sentiment though.. and it is possible that that prices could bounce within such a 15% price range throughout the upcoming week.

In case that you've missed this (which I find rather very important): https://fee.org/articles/bitcoin-is-less-volatile-than-the-euro/
Here are two nice website to track this:
https://www.buybitcoinworldwide.com/volatility-index/
https://bitvol.info/

^tulips trading happened around drinking and bars :-D lol ~ beercoin?

[bitserve]

What exchange is that ETH dump based?

Kraken. But it only hapenned on the USD/ETH trading pair, not on ETH/EUR.

Kraken USD order books are very thin as its mainly EUR.

[bitserve]

Altcoins are absurd. 99% are scams, vaporware or have no use-case. This is a full blown out Tulip Mania: https://en.wikipedia.org/wiki/Tulip_mania ; Just a small heads up to those who do not know what happened with the Tulip bubble:

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

[JayJuanGee]

Altcoins are absurd. 99% are scams, vaporware or have no use-case. This is a full blown out Tulip Mania: https://en.wikipedia.org/wiki/Tulip_mania ; Just a small heads up to those who do not know what happened with the Tulip bubble:

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

Sure... but bitcoin is different
 

[bitebits]

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

Second that, even though I share the idea that there will be a lot of new bagholders born. No difference for Bitcoin by the way.

Are bitcoiners the old guard now, warning about tulips and bubbles? I feel that this new money directly flowing into altcoins has never yet gone through a full cycle.

[Lauda]

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

I never said Bitcoin had anything related to the Tulip mania. Whoever did clearly didn't understand anything at that point of time. Looks awfully similar, doesn't it (the more you zoom out, the worse it gets)?



Compare that to the Bitcoin chart for the same time period (full view):

[xinzark]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

[bitserve]

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

I never said Bitcoin had anything related to the Tulip mania. Whoever did clearly didn't understand anything at that point of time. Looks awfully similar, doesn't it (the more you zoom out, the worse it gets)?

Yes, but now swap that altcoins market cap graph for the one of Bitcoin until november 2013.

In fact that's exactly the comparison they used to do.

[Lauda]

Yes, but now swap that altcoins market cap graph for the one of Bitcoin until november 2013.

In fact that's exactly the comparison they used to do.

False comparison. This is a time span of 3 months and you're comparing it to a time span of several years. Additionally, the 2013 bubble was caused by the Willy bot. It has nothing to do with the actual price of BTC (thus the chart would need to be forcibly corrected).

I'm not happy yet. I want to see ETH correct itself more, before I trust it enough to buy it back

Classic corporation/centralist shill.

When is it going to pop and who is going to be left holding these bags?

[bitserve]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

Yes. They used to lag behind because it was extremely dificult to make deposits there.

What has changed?

Well, now there is a LOT of money coming from other coins (eth, dash, ltc, ...) so trader there are faster reducing the spread.

[xinzark]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

Yes. They used to lag behind because it was extremely dificult to make deposits there.

What has changed?

Well, now there is a LOT of money coming from other coins (eth, dash, ltc, ...) so trader there are faster reducing the spread.

If it is coming from other coins then the price of other coins should have been dumped but that isn't the case here

[Mervyn_Pumpkinhead]

Classic corporation/centralist shill.

Says the one who dreams of getting rich by buying an artificially scarce virtual currency, so that others will have to buy it from her in the future for a much higher price

[bitserve]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

Yes. They used to lag behind because it was extremely dificult to make deposits there.

What has changed?

Well, now there is a LOT of money coming from other coins (eth, dash, ltc, ...) so trader there are faster reducing the spread.

If it is coming from other coins then the price of other coins should have been dumped but that isn't the case here

It's more complex than that. If we would experience a BIG pump on BTC you would see it more clearly. ALTS are continually pumping and dumping and there is always traders with liquidity on their BTC-e accounts. There's no need to be an inmediate connection between a rise in Bitcoin and a dump in altcoins.

[Mervyn_Pumpkinhead]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

Yes. They used to lag behind because it was extremely dificult to make deposits there.

What has changed?

Well, now there is a LOT of money coming from other coins (eth, dash, ltc, ...) so trader there are faster reducing the spread.

If it is coming from other coins then the price of other coins should have been dumped but that isn't the case here

It's more complex than that. If we would experience a BIG pump on BTC you would see it more clearly. ALTS are continually pumping and dumping and there is always traders with liquidity on their BTC-e accounts. There's no need to be an inmediate connection between a rise in Bitcoin and a dump in altcoins.

When I used to trade BTC, then BTC-E / Stamp price correlation was an important indicator to me. If stamp was a lot higher then BTC-E, then it meant that new fiat was flowing in the market. When the difference started to decrease, then it meant that the flow of new fiat is starting to stop. People rarely use BTC-E to deposit or withdraw fiat. That's why it's always lower when new cash is flowing in and always higher when people are cashing out.

[bitserve]

What is happening with Btc-e ? Used to be behind every exchange
Any idea ?

Yes. They used to lag behind because it was extremely dificult to make deposits there.

What has changed?

Well, now there is a LOT of money coming from other coins (eth, dash, ltc, ...) so trader there are faster reducing the spread.

If it is coming from other coins then the price of other coins should have been dumped but that isn't the case here

It's more complex than that. If we would experience a BIG pump on BTC you would see it more clearly. ALTS are continually pumping and dumping and there is always traders with liquidity on their BTC-e accounts. There's no need to be an inmediate connection between a rise in Bitcoin and a dump in altcoins.

When I used to trade BTC, then BTC-E / Stamp price correlation was an important indicator to me. If stamp was a lot higher then BTC-E, then it meant that new fiat was flowing in the market. When the difference started to decrease, then it meant that the flow of new fiat is starting to stop. People rarely use BTC-E to deposit or withdraw fiat. That's why it's always lower when new cash is flowing in and always higher when people are cashing out.

That was correct when BTC was responsible of the majority of the volume and liquidity, but now "deposits" can come from other alts, withdraws can go to them too. And funds on trader's accounts can go to Bitcoin or other altcoins. ie: a trader may chose to buy bitcoin instead of ethereum if he sees the spread makes it "cheap".

As I said, its more complex than that, but the dynamics of the liquidity flow has changed greatly in the past months.