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

[Asrael999]

I can't help but thinking that this is going to end very badly. There have been minimal to no corrections since late 2015, with corrections becoming more and more minimal towards the current price. The price has risen 3x this year alone, and risen 11x since late 2015.

Who knows? But both 2013's high and subsequent hangover were excessive and that brutality was caused by factors that don't exist any more.

It's all still being made up as it goes along and visibility is ever growing. Still, if it's sub $1000 I'd be tempted to buy a little more.

Everyone talks about "healthy growth"

But there is something I don't understand...
Healthy growth on a product, whatever it is, means that the growth is backed by a growing demand and/or a diminishing supply. In general it will be backed by an increasing use.

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

If you believe the South Korea / Japan stories then it is more than possible we are seeing doubling of demand.

[explorer]

I can't help but thinking that this is going to end very badly. There have been minimal to no corrections since late 2015, with corrections becoming more and more minimal towards the current price. The price has risen 3x this year alone, and risen 11x since late 2015.

Who knows? But both 2013's high and subsequent hangover were excessive and that brutality was caused by factors that don't exist any more.

It's all still being made up as it goes along and visibility is ever growing. Still, if it's sub $1000 I'd be tempted to buy a little more.

Everyone talks about "healthy growth"

But there is something I don't understand...
Healthy growth on a product, whatever it is, means that the growth is backed by a growing demand and/or a diminishing supply. In general it will be backed by an increasing use.

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

Demand has skyrocketed.  Moon rocketed?  Whatever.  Money can't get into crypto fast enough, and its jamming up all the gates.  Have you actually looked around?  Exchanges are backlogged signing up new users.  Poloniex accounts up 600% in 3-4 months.  Its not random.  It's happening!

[gentlemand]

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

I think it's good old FOMO due to hungry new markets.

If you sat back and looked at the actual Bitcoin system, nothing's changed technically, merchant usage is becoming impractical, users are whining like fuck.

None of that's healthy. It may not stop it though. All it requires is more buyers than sellers.

[Wekkel]

It's not a stock, it's a network. And hype cycles belong to it, I'm afraid (this will increase adopters and build the nessessary infrastructure for real life applications).

What is the value of a network? The number of users
What is the value of a permissionless, non-centralised open network that is the largest? I could say $1mln/token may not even be enough to capture this

But I digress: it's mainly speculation in the current phase  

[Instamined]

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

I think it's good old FOMO due to hungry new markets.

If you sat back and looked at the actual Bitcoin system, nothing's changed technically, merchant usage is becoming impractical, users are whining like fuck.

None of that's healthy. It may not stop it though. All it requires is more buyers than sellers.

Or exchange manipulation mafia bullshit.

[JimboToronto]

Did we double btc use? Btc demand?

Probably. Between new demand worldwide (e.g. S. Korea, Brazil) and institutional interest due to legal changes in places like Japan and Australia,

demand is soaring.

Couple that with fixed supply of new coins and reluctance of holders to sell and you're bound to have rising prices.

My favorite local sources have already run out of coins.

[gentlemand]

Or exchange manipulation mafia bullshit.

Very possibly. We probably have that to partially thank for 2013, and China's subsequent shenanigans contributed to the price suppression with relentless dumpage. It would've been more reassuring if this run had started with a BFX that worked.  

[becoin]

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

Yes. We doubled and trippled btc use. Look at tx fees! Demand is huge. More and more people would like to have at least 1 bitcoin but there will be only 21 million bitcoins for a population beyond 7 billion.

[Instamined]

Or exchange manipulation mafia bullshit.

Very possibly. We probably have that to partially thank for 2013, and China's subsequent shenanigans contributed to the price suppression with relentless dumpage. It would've been more reassuring if this run had started with a BFX that worked.  

What % of the new buys are from n00bs and what % are whales buying smart?

How badly has USDT inflated the charts on USD with nothing more than difference between usd and usdt?

You only really use the money when you spend it on something.

[darkangel11]

I can't help but thinking that this is going to end very badly. There have been minimal to no corrections since late 2015, with corrections becoming more and more minimal towards the current price. The price has risen 3x this year alone, and risen 11x since late 2015.

Do I see traces of fear starting to appear among the holders? This is how real corrections begin, with your attitude. When people start saying "i'm worry it's  gonna end soon" they are already keeping their finger on the button.

1000 USD you say , no problem I'm all in since 720...

Like "sold my house and squatting at friend's" all in?

[Romanknickl]

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

Yes. We doubled and trippled btc use. Look at tx fees! Demand is huge. More and more people would like to have at least 1 bitcoin but there will be only 21 million bitcoins for a population beyond 7 billion.

Where are the moon pics?
I expect at least 3,5kUSD and max. 7k USD
We see a organic exponential growth!
just look at the google"buy bitcoin" search results
It's time for plan B! game over for the centralised  fiat money system!

[gentlemand]

What % of the new buys are from n00bs and what % are whales buying smart?

How badly has USDT inflated the charts on USD with nothing more than difference between usd and usdt?

You only really use the money when you spend it on something.

Considering Japan and Korea seem to be leading I think it's largely noob city.

No idea what effect the USDT thing is having but it's certainly not a helpful one.

Do I see traces of fear starting to appear among the holders? This is how real corrections begin, with your attitude. When people start saying "i'm worry it's  gonna end soon" they are already keeping their finger on the button.

I for one couldn't really give a shit what happens in the near future. I plan to reassess after the next halving.

[HI-TEC99]

It's not a stock, it's a network. And hype cycles belong to it, I'm afraid (this will increase adopters and build the nessessary infrastructure for real life applications).

What is the value of a network? The number of users
What is the value of a permissionless, non-centralised open network that is the largest? I could say $1mln/token may not even be enough to capture this

Australian TV doesn't care what Bitcoin is, it just calls it a commodity and points out how much better it's doing than oil and gold.

Australian TV last night. How odd to see this. I wonder when if and when it'll become the standard thing to throw in there.

[ARTISTCOLONY]

https://i.imgflip.com/1pnse3.jpg




BTC ===> $2500 TIMBERRRRRRRRRRR

[becoin]

Do I see traces of fear starting to appear among the holders?

I see such questions since price recovered to $1200 after SEC rejected Bitcoin ETF.

[PoolMinor]

Bitcoin sites are reminding me of dial-up speeds. BCtalk, coinbase, other exchanges cannot handle the extra workload right now. Only going to become more and more traffic heavy as this Bitcoin thing is implemented.

Edit:

[Meuh6879]

We make the history.
We, the people.
We, the network of Trust.

[ARTISTCOLONY]

https://68.media.tumblr.com/bc2d4245dea00d4b60047c3916888423/tumblr_mm5ez8AObT1ro8ysbo1_500.gif


SPACE AND BEYOND THIS IS WHERE WE GO FROM HERE $2500 CLOSEEE++

[Torque]

I can't help but thinking that this is going to end very badly. There have been minimal to no corrections since late 2015, with corrections becoming more and more minimal towards the current price. The price has risen 3x this year alone, and risen 11x since late 2015.

Who knows? But both 2013's high and subsequent hangover were excessive and that brutality was caused by factors that don't exist any more.

It's all still being made up as it goes along and visibility is ever growing. Still, if it's sub $1000 I'd be tempted to buy a little more.

Everyone talks about "healthy growth"

But there is something I don't understand...
Healthy growth on a product, whatever it is, means that the growth is backed by a growing demand and/or a diminishing supply. In general it will be backed by an increasing use.

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

If you are thinking of "healthy growth" as in droves of people are rushing to buy some bitcoin right now so they can turn around and buy a coffee with it, then you haven't really been paying attention to what is happening in the world lately.

More like "I trust Bitcoin as a store of value" more than "I trust PMs as a store of value".
^{(Hint: One of the two is heavily controlled and naked shorted by unscrupulous central banks. The other isn't.)}

[rjclarke2000]

SPACE AND BEYOND THIS IS WHERE WE GO FROM HERE $2500 CLOSEEE++

Are you the new crazy shouty guy? Nice to meet you.