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

[PoolMinor]

I can not buy cheap bitcoins on monday !




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imghttp://imagizer.imageshack.us/a/img924/167/kjGLmL.gif[/img]

All Bitcoins are cheap compared to the cost of them next year. Buy now, don't wait....then HODL forever

[Ted E. Bare]

Looking good!

[JayJuanGee]

[http://imagizer.imageshack.us/a/img923/1109/qC4LQ5.gif[/img]

I can not buy cheap bitcoins on monday !


http://imagizer.imageshack.us/a/img924/167/kjGLmL.gif[/img]

All Bitcoins are cheap compared to the cost of them next year. Buy now, don't wait....then HODL forever

I thought that you said we were crashing PM?

I thought that you said that the technicals blah blah blah indicated blah blah blah.. we are crashing?

We gonna wait until later for you imminent crash?  Or if we don't crash down, then we crash up? 

hahahahaha   

Even PM is onboard, something is fishy, here.     

[Torque]

All Bitcoins are cheap compared to the cost of them next year. Buy now, don't wait....then HODL forever

I know, let's break it down for the newbies with some mathematical formulas:

Cost [year] compared to Cost [year + 2] = cheap

Cost [year] compared to Cost [year + 4] = really fkn cheap

Cost [year] compared to Cost [year + 10] = if you don't buy right now and HODL you're an idiot and you will be poor forever

[JayJuanGee]

Good morning Bitcoinland.

Well I managed to buy the dip, sort of... got in when it was about $690USD at Stamp.

Since then it's gone back up a little... $1723USD at Bitcoinaverage $1715 at Stamp.

Hopefully that was the big correction we were all waiting for and we're ready to move on up again.
 

Overall a decent and healthy dip.   15% at it's maximum from $1,890 to $1,600; however, looks like you bought in at about the 10% location of the dip.. and yeah, you cannot really time the bottom exactly, especially if you are working in traveling logistics, too.

If we do not get more dip (back into the mid to lower $1,600s), then this current scenario seems pretty bullish...

Once we started dipping and it appeared that prices broke below $1,630, I had a decent sense that we were going to be going into the $1,500s and perhaps testing support in the lower $1,500s... but it seems that support at higher levels was greater than I had thought and buying pressure has remained a bit too strong, even at these seemingly high - and really ATH price territories.

By the way, we also seem to have another pattern emerging, or my feeling of a need to make a reassessment of trade volume, which I would characterize as getting into the significantly above average levels.

It is difficult to assess trade volumes when looking at a few weeks at a time, but now if we look back at the weekly trade volumes since the beginning of the year, we have about 14 out of 21 weeks being fairly decently high levels.

I understand that in the past, I had asserted that overall, the trade volume was mediocre, but I am getting the sense of passion and the sense of consistency here, and I have to change my conclusion.. to assert that the trade volume level is significantly higher than average, especially if we account for the whole past 21 week period.

We may get consolidation, here, too, but I am thinking that the odds are getting a bit better (or more favorable) that prices are returning up and returning to test the ATH.. In other words, this does not seem like a good consolidation price area because there is too much disagreement about the price, which means that we gotta break either upwards or downwards, and since we experienced the mediocre but healthy 15% correction, I am a bit inclined to think that the scale is shifting in favor of more upwards from here.. maybe just slightly more favorable towards upwards and testing the ATH in the coming week or two-ish

I'm going to quote myself because I think that the subject of my post follows largely on the theme that I already discussed.


I have been giving some further thought, and it is quite possible that we could get another test of the ATH - and maybe just barely getting to $2k or possibly breaching $2k for a bit, and then get another decent correction of 25% to 35% before proceeding above $2k and into the $2,300 and beyond territories.

That's just a tentative working theory that I am thinking has pretty decent odds, but I have been wrong several times in the past involving the extent to which this thingie ma jiggie that we call bitcoin continues to be bullish beyond expectations...

and maybe we can attribute some of that bitcoin bullishness to the various alt coin (aka shitcoin) pumps?    People may be thinking that if you can put $10 to $20 billion into various shitcoins within less than a month, then bitcoin has got to be worth something, too.. hahahahaha   

[Wekkel]

and maybe we can attribute some of that bitcoin bullishness to the various alt coin (aka shitcoin) pumps? [...]  

It seems more prudent to speak about 'major network' with first mover advantage (Bitcoin) versus smaller networks as potential runner ups because different features and more flexibility (aka altcoins). LTC is an excellent example of potential runner up with recent Segwit implementation (talk about high risk/reward right now compared to Bitcoin developer's deadlock....).

The term 'shitcoin' only reveals irrelevant bias.

[DaRude]

I guess the demand was under estimated upidy up we go again.

[Ted E. Bare]

This is why you buy EVERY dip.

[Meuh6879]

But i don't have cash on week-end to buy bitcoins ... only on working days.

[CoinHoarder]

CHOOO CHOOOO.  

I'm glad I hopped back on the train at $1750

I guess we are headed for $2k in a matter of a couple weeks or less?

I still think a correction can come at any moment in the next few weeks, but I will enjoy the ride up while it lasts!

Congrats hodlers, it looks like the rally isn't over yet!

[spooderman]

But i don't have cash on week-end to buy bitcoins ... only on working days.

That's what causes the dips.

$2k in a matter of a couple weeks or less?

Wednesday.

[JayJuanGee]

and maybe we can attribute some of that bitcoin bullishness to the various alt coin (aka shitcoin) pumps? [...]  

It seems more prudent to speak about 'major network' with first mover advantage (Bitcoin) versus smaller networks as potential runner ups because different features and more flexibility (aka altcoins). LTC is an excellent example of potential runner up with recent Segwit implementation (talk about high risk/reward right now compared to Bitcoin developer's deadlock....).

The term 'shitcoin' only reveals irrelevant bias.

The term "shitcoin" suggests that a large majority of them are pump and dumps with little to no current value - even though they may have a large number of theoretical (and possibly later) actual implementations that contribute to the crypto space.

They are largely riding off the coat tails of bitcoin, but it is likely also, that bitcoin profits from the large amount of money that they seem to be attracting into the space with a large number of scams, while at the same time having some innovations too (in theory).

So, the term "shitcoin" likely fits pretty well (especially when we are in a "bitcoin" thread), to summarize and to refer to the impact of the various alts, even if the reality of the reference comes off as a bit denigrating.


Edit:    By the way, you seem to be referring to Bitcoin as some kind of unfair - first mover advantage, as if bitcoin is somehow not very valuable and as if the imitation pump and dumps have some kind of similar and equivalent value - which frequently is how a lot of the alt pumpers like to refer to bitcoin.. to act as if bitcoin is not contributing much of anything, and it just happens to be in front because it started first...

What a bunch of bullshit!!!!   

Let's think about it.  There is something to the invention that bitcoin brings to the table and that is proof of work and solving of the byzantine general's problem... This had NEVER been accomplished previously.  It is not that bitcoin just happens to be some kind of thing that no one else thought of, it is the implementation of several years that caused the imitations from various other cryptos.. Some of those other cryptos are adding value to the space, but a large majority are not - except for the fact that they may be drawing attention to the space and maybe bringing people into the space who would not otherwise have gotten into the space.

[bitserve]

But i don't have cash on week-end to buy bitcoins ... only on working days.

That's where leveraging comes really useful (instead for going full retard on gambling): You can buy the dip at that instant. Then transfer the funds and settle the position when they arrive some days later.

Just never open a position that is more than a small porcentage (ie: less than 30%) of your trading funds/collateral unless you really know what your doing and want to engage in leverage trading.

[gembitz]

Bitcoin pumping up to $2000 yet? :-D

~also radar FLORINS(bitcoin core peeps)

it's going to skyrocket!!! 

[sirazimuth]

CHOOO CHOOOO.  

I'm glad I hopped back on the train at $1750

I guess we are headed for $2k in a matter of a couple weeks or less?

I still think a correction can come at any moment in the next few weeks, but I will enjoy the ride up while it lasts!

Congrats hodlers, it looks like the rally isn't over yet!

well truth be told, the rally actually started on   2009-01-09 02:54:25
and has been going strong ever since....

[Ted E. Bare]

Buy high, sell higher.

[JayJuanGee]

CHOOO CHOOOO.  

I'm glad I hopped back on the train at $1750

I guess we are headed for $2k in a matter of a couple weeks or less?

I still think a correction can come at any moment in the next few weeks, but I will enjoy the ride up while it lasts!

Congrats hodlers, it looks like the rally isn't over yet!

well truth be told, the rally actually started on   2009-01-09 02:54:25
and has been going strong ever since....

I cannot really disagree with you; however,  a funny thing is that there can several ways to frame the current rally matter, and we do not always know while it is happening whether or not it is continuing or reversing, and really this current rally could be considered a bull run that started in late 2015 - and started from about the mid-$200s.

At the time (in late 2015), a large number of us did not realize that the trend was reversing or that we were in the beginning of a rally, but by early 2016 and moreso by late May 2016, the current rally was confirmed when the bears could no longer keep prices below $500 - and the rest (at least this current rally) is history... .and at this point we remain in a pretty decent ongoing bull market that is increasingly likely to bring us into the $3k to $5k price territory before it reverses (at least temporarily, in order to consolidate and regroup)...

[CoinHoarder]

Bitcoin pumping up to $2000 yet? :-D

~also radar FLORINS(bitcoin core peeps)

it's going to skyrocket!!!  

May I ask why you suggest Florins to Bitcoin core peeps specifically? I understand Florincoins are used in the decentralized internet protocol Alexandria. They seem interesting because of that. If Alexandria takes off, then they will likely be valuable.

I wish I would of picked some up when I first heard of Alexandria a coupleish years back. They were mega pumped the past 24 hours. Is there any reason for the huge pump, or are people just looking for stuff that is still undervalued in the generally massively over valued alt coin bull market?

I may invest a little, but I will wait for a correction.

[bitserve]

I am starting to think that this week we will have at least an attempt at $2000, or maybe even a breakout if we have a small flash dip between $1800-$2000 before the attempt.

[MinermanNC]

Notice over the last few months BTC may hit a pot hole or 2 or a dip in the road, but what's different these days, is it gets quickly back up to speed and carry's on. Didn't used to do that.