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

[JimboToronto]

I was hoping for a dip after reading elwar's experiences. He said the previous 2013 bull run ended after the price doubled in a week. This dip's slowing the bull run down and keeps us out of the doubling in a week danger zone.

Exactly. I've been preaching about the value of regular corrections for some time now as proof we're not in a bubble.

A solid deeper correction every now and then is also important as long as it stays well above the bottom of the previous one.

That's precisely what's happening now... $1900 down to $1600 in early May, $2700 down to $1800 in late May, $3000 down to $2500 in June.

No bubbles, just healthy growth in a long-tern fairly steady uptrend that shows no reason to stop or run away with itself.

Go Bitcoin go.

[1714599079]

1714599079

[orpington]

new ATH by friday - yawn

[becoin]

>Lost $10k today.

>Meh.

Nobody should gamble with max margin!

Heh. That's just my cold stash. I don't actually trade, other than when it matches with my other priorities.

Ah okay. You'll have them back in 2 days.

[JayJuanGee]

The end is near, Bitcoin has finally lost it's market dominance to Electra  (Market cap now over 3x Bitcoin)

http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

(Market cap is such a useful metric)

Sure, Market cap is a useful metric, but it does not tell the whole story.

We have had an infusion of capital into a large number of cryptos, including bitcoin, and seemingly disproportionately into various alts, especially ETH... however, at the same time, there are some smoke and mirrors going on too, especially if there is some controlling of the supply to cause affects on market cap and/or changes in price.

So, we should also be considering premining, restriction of supply, hiding of supply and liquidity in order to attempt to better understand whatever market cap is represented at coinmarketcap.com.

[Chef Ramsay]

https://twitter.com/clif_high/status/874318298401316868
https://twitter.com/clif_high/status/874343355622211584

[Ibian]

Drunk thought: The stupid rise of alts is a trap to trick people into divesting btc into ANYTHING ELSE. And then pumping btc.

[sirazimuth]

well... being a long time hodler,
these corrections/crashes/dumps (whatever you wanna call it) are almost getting boring now....
don't like the heat?... stay outta the kitchen

[conspirosphere.tk]

Drunk thought: The stupid rise of alts is a trap to trick people into divesting btc into ANYTHING ELSE. And then pumping btc.

no: and then PULL IT, that is try to crash them all at once. Imagine the bad publicity for crypto by what might happen with ETH.

[JimboToronto]

>Lost $10k today.

>Meh.

Nobody should gamble with max margin!

Heh. That's just my cold stash. I don't actually trade, other than when it matches with my other priorities.

Let's see, down about $400 per coin today, that's a couple dozen coins?  

How much are the Winklevoss twins down today?

Answer: less than half of what they're still up since the start of May. 

[BlindMayorBitcorn]

https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

The foundation has lots of fiat and lots of ETH. Maybe they can keep the price from crashing too hard?

Bail out? Sounds like the Fed.

Well, at least they'd be starting early. Hopefully they can also get Vitalik to set up some sort of 'QE' process too.  200 million, here they come!

I'm itching to finally short this thing. But I don't think they're gonna let us.

[JayJuanGee]

new ATH by friday - yawn

Gosh!!!!  Could be, but I would suspect it more reasonable to take an extra week, so maybe sometime in the middle of next week. 

On the other hand, I could understand that the bullish trend would just continue, since we have been quite close to breaking $3k on a couple of occasions, so in that regard, a quickie correction makes sense.

[Torque]

Drunk thought: The stupid rise of alts is a trap to trick people into divesting btc into ANYTHING ELSE. And then pumping btc.

no: and then PULL IT, that is try to crash them all at once. Imagine the bad publicity for crypto by what might happen with ETH.

The funny thing is that either one of these scenarios could occur, and the 'community' would retroactively somehow rationalize how this it always the plan.  

[elite3000]

Lost good opportunity to short some alts because my Bitcoin is stuck somewhere in the menpool.

Feeling bad

[Paashaas]

GBMiners is now signalling segwit

This is a simple business decision. Bitmain is the only source for Bitcoin mining machines. Either you deal with Bitmain or you are not a miner and right now Bitmain wants people running Bitcoin Unlimited

[BlindMayorBitcorn]

Lost good opportunity to short some alts because my Bitcoin is stuck somewhere in the menpool.

Feeling bad

Stuck in the menpool:(

[Kanapka]

GBMiners is now signalling segwit

This is a simple business decision. Bitmain is the only source for Bitcoin mining machines. Either you deal with Bitmain or you are not a miner and right now Bitmain wants people running Bitcoin Unlimited

But isn't the difference only in the software and the mining can be done with the old machines?

Or if there segwit or unlimited wins all the miners will have to be thrown away

[lightfoot]

Bitmain cheats a bit with their miner microcode. That cheat would not work with Segwit, thus their systems would be somewhat slower. Which would make them sad.

[Bitcoinaire]

Coming back nicely from the low of $2480. This looks to be a great trend of powering up to new highs and having healthy pullbacks.

[bitserve]

Bitmain cheats a bit with their miner microcode. That cheat would not work with Segwit, thus their systems would be somewhat slower. Which would make them sad.

They know they can't pull that trick indefinitely, in fact they knew that from the beginning. Jihan BU is a fan of game theory, let's just hope he is also a good practitioner and do the right decision at the right TIME.

[yefi]

This looks like it could be the end of the rally to me, tbh.