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

[ShroomsKit_Disgrace]

Imagine when the alts crash and that money come to btc. We'd already be at $5k

What would make the alts crash? I can't see it myself.

Well, this is what I see. A lot of people are psychologically unstable when they see new ATH for bitcoin. They can't resist and sell part of or all of their bitcoins in anticipation of the "imminent and unavoidable" correction. But correction doesn't happen or is too shallow. Bitcoin keeps breaking new ATHs. People hate to recognize their mistakes and buy back at higher price. They can't handle the fact that they'll end up with less bitcoins. They also can't look at their fiat dumb holdings depreciate every day. This is why they throw all of it into some alt of their choice hoping that some day they'll sell it and recoup their bitcoin. This is all the "logic" behind alt boom. Of course, there are some players with different agenda that are riding this wave.

You can throw all your bitterness towards altcoins, but the truth is that whoever invested in alts (lets say any of the top10) 3months ago, has made much money than others just investing in BTC. And the fact is that we are here for the moneys, aren't we? 

Again with the logic that we should all listen to financial advise from lottery winners? After all they did make a ton of money right, that must mean something right? right  

Well, any average Joe reading news these days will think that any of us, who owns bitcoins, are lottery winners...So your argument in general is applicable for the whole cryptocoins world.

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[becoin]

It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.

It is not a bot and certainly is not a bubble! Bitcoin exchanges can't cope with the number of requests for new registrations by average Joe and Mary just entering cryptoland and buying their first Bitcoin. The avalanche of Bitcoin adoption has just started. It will take years until it settles down.

Edit: Yes, you can say that some exchanges are front running but this is only because they are the first to see organic demand picking up.

[Wekkel]

Looking at history, BTC won't hit the craze of 2011/2013 unless it hits $10,000 this year. So $2,200 is about boring (also shows in this slow thread; you should have been here in 2013 to understand what I mean...).

Paying off your mortgage is great but the really interesting part is seeing a new paradigm being born.

[fluidjax]

It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.

Everytime an exchange is hacked for BTC, they need to recover those by re-buying them, just like Gox was trying to do. (Excluding any permanent hair cuts) we know of lots of hacks in most of the major exchanges, there are no doubt some we don't know about. As the price starts to climb, it makes sense to step up the frequency and quantities of the buying bots to capture the coins at the lowest price.
Many people , including myself independently spotted willy bot, but times have moved on and with a little thought and programming its going to be almost impossible to see them in action, but its got to be likely that they are contributing to this rise.

[Romanknickl]

The crazy thing is... The real craziness hasn't even started yet..

post of the day. damn right.

wonder when it gets really hot. maybe if we rise $ 500 in one day. i guess i will get really nervous when we rise $ 1000 in one day. 

I agree!
Seriously guys, I am pretty sure this is the last chance to buy BTC lower than 2500USD!
We have a huge volume and bearish whales already tried to break the 2kUSD resistance.
But the huge dumps are eaten! and the price is constantly growing! $39,185,212,914 Market cap is nothing for the Idea bitcoin

My future thoughts:
Btc will rise to 4k USD with a constant rise!
Btc will bubble from 4k usd to 7kusd

[julian071]

It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.

It is not a bot and certainly is not a bubble! Bitcoin exchanges can't cope with the number of requests for new registrations by average Joe and Mary just entering cryptoland and buying their first Bitcoin. The avalanche of Bitcoin adoption has just started. It will take years until it settles down.

Edit: Yes, you can say that some exchanges are front running but this is only because they are the first to see organic demand picking up.

New ATH for 'buy Bitcoin' on Google.

https://trends.google.nl/trends/explore?q=buy%20bitcoin

[explorer]

Looking at history, BTC won't hit the craze of 2011/2013 unless it hits $10,000 this year. So $2,200 is about boring (also shows in this slow thread; you should have been here in 2013 to understand what I mean...).

Paying off your mortgage is great but the really interesting part is seeing a new paradigm being born.

*takes a one hour break.  Returns to 24 new pages in Wall Observer Thread. 

Had to charge my phone several times a day, and data! Whew!  All those train gifs 

[Wekkel]

The lack of train gifs are indeed a real sign of the absence of a bubble.

[paulifa123]

I do wish you newbies would pay attention, all this talk of a bubble is utter nonsense! We are up a total of about 120% over 4 years from the last high point!! We are just beginning to get back on track  

And as for you anti alt guys, give me a break. There are many excellent up and coming projects in alts that will go on to be very useful. Of course early growth will be exponential, (and massively risky) have you all forgotten about bitcoins early growth?

As most alts are paired with BTC, a ten fold increase in an alt over the last few months, actually means a 30 fold or more dollar return... potentially life changing profits from modest investment. I love and hold BTC, but you now need a very sizeable investment to begin with at this point to make life changing returns from it.

[Searing]

Imagine when the alts crash and that money come to btc. We'd already be at $5k

What would make the alts crash? I can't see it myself.

Well, this is what I see. A lot of people are psychologically unstable when they see new ATH for bitcoin. They can't resist and sell part of or all of their bitcoins in anticipation of the "imminent and unavoidable" correction. But correction doesn't happen or is too shallow. Bitcoin keeps breaking new ATHs. People hate to recognize their mistakes and buy back at higher price. They can't handle the fact that they'll end up with less bitcoins. They also can't look at their fiat dumb holdings depreciate every day. This is why they throw all of it into some alt of their choice hoping that some day they'll sell it and recoup their bitcoin. This is all the "logic" behind alt boom. Of course, there are some players with different agenda that are riding this wave.

You can throw all your bitterness towards altcoins, but the truth is that whoever invested in alts (lets say any of the top10) 3months ago, has made much money than others just investing in BTC. And the fact is that we are here for the moneys, aren't we? 

I tossed in last year 1 btc into lisk. At the time a btc was $450 if I remember right. Today it is worth
$9050 usd. Thus I probably should diversify my crypto over my main not to be touched
BTC hoard. Yep, it has gotten that stupid

[ImI]

In light of some recent discussions, I wrote up this BIP for a real 2 MB block
size hardfork following Segwit BIP148 activation. This is not part of any
agreement I am party to, nor anything of that sort. Just something to throw
out there as a possible (and realistic) option.

Note that I cannot recommend this to be adopted, since frankly 1 MB blocks
really are still too large,

Hehe, gotta love that nutjob.

[luckygenough56]

The lack of train gifs are indeed a real sign of the absence of a bubble.

haha so true indeed

[rjclarke2000]

Imagine when the alts crash and that money come to btc. We'd already be at $5k

What would make the alts crash? I can't see it myself.

Well, this is what I see. A lot of people are psychologically unstable when they see new ATH for bitcoin. They can't resist and sell part of or all of their bitcoins in anticipation of the "imminent and unavoidable" correction. But correction doesn't happen or is too shallow. Bitcoin keeps breaking new ATHs. People hate to recognize their mistakes and buy back at higher price. They can't handle the fact that they'll end up with less bitcoins. They also can't look at their fiat dumb holdings depreciate every day. This is why they throw all of it into some alt of their choice hoping that some day they'll sell it and recoup their bitcoin. This is all the "logic" behind alt boom. Of course, there are some players with different agenda that are riding this wave.

You can throw all your bitterness towards altcoins, but the truth is that whoever invested in alts (lets say any of the top10) 3months ago, has made much money than others just investing in BTC. And the fact is that we are here for the moneys, aren't we?  

I tossed in last year 1 btc into lisk. At the time a btc was $450 if I remember right. Today it is worth
$9050 usd. Thus I probably should diversify my crypto over my main not to be touched
BTC hoard. Yep, it has gotten that stupid

I've made a decent amount of bitcoin from alts but for me if I did it now I'd chose the wrong alt. I know there could be a higher short term gain but I feel safer with a steady btc rise and leaving it untouched.

Also I was pretty lucky with dogecoin. Bought 3million for £100 years ago and sold for 4.6btc yesterday. Not bad.

[European Central Bank]

You can throw all your bitterness towards altcoins, but the truth is that whoever invested in alts (lets say any of the top10) 3months ago, has made much money than others just investing in BTC. And the fact is that we are here for the moneys, aren't we? 

how is anyone getting these super gains out? you can't raise levels on poloniex. i've been waiting two months now to be upgraded. if i'd made hundreds of btc it would now take me over a year to get all them out of there.

[JayJuanGee]

Being rich in btc is great but taking a slight bit of the profit you make and put it in dollars can't hurt anyone

A lot of people did that and are already hurt.
This is why I take a slight bit of the profit I make and put it in bitcoins.
If you want to diversify your bitcoin holdings put part of it in gold or silver! Putting it in dollars is stupid.

Done already, but I am considering doing a bit more now.  I am really enjoying the price rise, but come on, it was looking bubbly at $1250 in January, we are almost double that now without a correction of note for a while, and every day sees another rrise.

It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.

I don't want to miss the top, but a few ounces of gold might be looking pretty good in the future if this bitcoin bubble pops (and it always has in the past - but maybe this is the new normal!)

Of course it is going to pop at some point.

I really doubt that it is going to pop in the $2300 to $2500 price range -- but hey I have been wrong before.

And if it gets past $2500 without any major difficulties then likely the $3k to $5k range - and yeah, we gotta see how it plays out, but middle of the range could be a fair area for a correction.. however, if we get past the $5k arena, then gosh, who knows, maybe $$7k to $10k would be fair correction points...

It seems pretty fucking likely that we are going to get a correction in the $3k to $5k range - but we have had overshoots in the past, too, and the present does not seem to take away from that possibility that we are going to have an overshooting of expectations - some would already characterize this as an overshooting of expectations, and there is some justification for that - but seems tlie we are on our way to $3k minimum.. and $4k more likely and $5k a bit less likely..

[European Central Bank]

and here's a revealing story, fidelity is actually mining bitcoin.

http://www.zerohedge.com/news/2017-05-23/fidelity-mining-bitcoin-abigail-johnson-says

they've mined a heady 200,000 satoshis so it's probably the ceo's phone that's doing it.

[machasm]

So when does "Its happening' turn into 'its happened'
😀

[bitserve]

You can throw all your bitterness towards altcoins, but the truth is that whoever invested in alts (lets say any of the top10) 3months ago, has made much money than others just investing in BTC. And the fact is that we are here for the moneys, aren't we?  

how is anyone getting these super gains out? you can't raise levels on poloniex. i've been waiting two months now to be upgraded. if i'd made hundreds of btc it would now take me over a year to get all them out of there.

Maybe having several different accounts?

Also you can raise your verification level for improved limits.

[soullyG]

So when does "Its happening' turn into 'its happened'

I think we passed that point a while ago 

[bitserve]

Being rich in btc is great but taking a slight bit of the profit you make and put it in dollars can't hurt anyone

A lot of people did that and are already hurt.
This is why I take a slight bit of the profit I make and put it in bitcoins.
If you want to diversify your bitcoin holdings put part of it in gold or silver! Putting it in dollars is stupid.

Done already, but I am considering doing a bit more now.  I am really enjoying the price rise, but come on, it was looking bubbly at $1250 in January, we are almost double that now without a correction of note for a while, and every day sees another rrise.

It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.

I don't want to miss the top, but a few ounces of gold might be looking pretty good in the future if this bitcoin bubble pops (and it always has in the past - but maybe this is the new normal!)

Of course it is going to pop at some point.

I really doubt that it is going to pop in the $2300 to $2500 price range -- but hey I have been wrong before.

And if it gets past $2500 without any major difficulties then likely the $3k to $5k range - and yeah, we gotta see how it plays out, but middle of the range could be a fair area for a correction.. however, if we get past the $5k arena, then gosh, who knows, maybe $$7k to $10k would be fair correction points...

It seems pretty fucking likely that we are going to get a correction in the $3k to $5k range - but we have had overshoots in the past, too, and the present does not seem to take away from that possibility that we are going to have an overshooting of expectations - some would already characterize this as an overshooting of expectations, and there is some justification for that - but seems tlie we are on our way to $3k minimum.. and $4k more likely and $5k a bit less likely..

If history repeats, as it usually does, you will notice the big correction is coming when one day the rise accelerates to crazy levels. What I see atm is a steady rise with not much difference from one day to next (in terms of percentage of grow/day).

Of course, anything is possible. NO fucking idea when that will happen. I just wait for signals that haven't come yet.

Signals:

- The acceleration in rise (percentage wise) mentioned above.
- Exchanges can't cope with new user verification. That has just started... when they start to stabilise and are able to cope with it, its one of the signals to sell.
- Everybody on this thread thinking the price will keep rising forever, no matter what the price currently is.
- When there is no fucking dip in the rise for a while. I don't mean correction, I mean no fucking dip. We are still having our good dose of those.
- etc etc...