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

[elebit]

Any idea what's different about the mechanisms that creates that problem?

The reason exchanges have to turn off Ethereum time and time again is probably just shoddy code. The software doesn't really behave well under load.

But the reason scaling is problematic is the nature of the scripting engine. It's supposed to do everything for everone, so the number of corner cases with exponential validation is unknown. The transaction fee system on top of that is centrally managed, not in theory but in practice. That doesn't adapt fast enough for rapid load changes.

When I peruse a forum on it I feel like your old auntie looking at a Bitcoin forum because she has to pay her revenge porn ransom.

Oh dear, the images in my head.

[1715137943]

1715137943

[Torque]

And on topic: Did you see how the price is on the rise again? Do you think there is a link with the segwit2x increasing support?

No. None. Absolutely not.

Seriously though, if people think that the whole rise last year and this year is attributed to an eventual Bitcoin scaling resolution, then they aren't paying attention to greater economic forces happening in the world.

But feel free to discuss whatever miopic thing that might give a reason for the price rise.

Hey I know... can we blame the bitcoin price rise on the ETH shitcoin ICO flash crash yesterday? Yeah yeah, that sounds good.

[DARKHOLDER]

While we were busy being all thinky about it somebody crashed ETH down to ten cents. They're calling it 'The Floppening'

ETH is well above $300, but this topic is not about ETH

This thread is about Bitcoin price, therefore anything impacting Bitcoin price is "on topic", right?

Next target on july is 3300$..

[Torque]

So a few crypto talking heads on youtube have highlighted how they supposedly won big with shitcoins. People all over youtube are now talking about how much they are making with all these shitcoins, and are pretty much divested mostly out of Bitcoin atm.

Verdict: The Flippening (Floppening?) is now complete. This is exactly what "they" wanted to happen. Instead of weak hands being pushed back into fiat like in the old days, "they" have now managed to get these weak hand n00bs divested and locked in to various shitcoins instead.

This is going to be epic when Bitcoin continues it's rise while Altlandia stagnates and goes nowhere. The noobs won't realize what is happening until it's too late.

[spooderman]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

[soullyG]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

Feels like consolidation before we make the push through $3.5k+

[WhatsBitcoin]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

Feels like consolidation before we make the push through $3.5k+

I believe this called coiling. We be coiling mos def

[JayJuanGee]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

The phenomenon has been going on pretty much throughout the whole of 2017, that is what makes it so very amazing.. ongoing and consistent upwards pressures that have not really gotten so overheated as to lose support.  In other words, the rise in price has not been so outrageous as to lose support.

As some might say, slow and steady.... blah blah blah. go bitcoin go... 

[HanvanBitcoin]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

Feels like consolidation before we make the push through $3.5k+

+1

[soullyG]

As some might say, slow and steady.... blah blah blah. go bitcoin go... 

[600watt]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

it is strange, you are right. on the other hand: was there ever an epic run up without an even more epic crazy blow off in the last few days of the bubble? something like doubling in 3 days or so?

i guess something´s got to give.

[HanvanBitcoin]

As some might say, slow and steady.... blah blah blah. go bitcoin go... 

[joao1973]

I am not sure that it is so blunt we will see, these two months will lead us to the next trend, I think it will not have strength until it recovers between 20% or 30%, we will see what happens

[WhatsBitcoin]

no one buying bullions no mo it's bitcoin gang now

[Torque]

never really seen bitcoin just hover below a previous ATH before. what's the deal?

The phenomenon has been going on pretty much throughout the whole of 2017, that is what makes it so very amazing.. ongoing and consistent upwards pressures that have not really gotten so overheated as to lose support.  In other words, the rise in price has not been so outrageous as to lose support.

As some might say, slow and steady.... blah blah blah. go bitcoin go...  

So let's assume a crazy theory for a second. Let's assume that there's mega fear of economic uncertainty on the horizon, and some very wealthy entities *DO* actually see Bitcoin as a safe haven much like precious metals.

Well then, that much money coming into this market (without distorting the price discovery completely) would be like trying to push an elephant through a key hole. They can't shove that much money into bitcoin all at once, because all the available coins (either OTC or on exchanges) would dry up instantly and price would go parabolic overnight.

So they have to do small pumps in, short the market, wait for more coins to be made available, gobble them up again, pump and short again, repeat the pattern, etc. They would have to continue that process for a long while, but they have to get it done before SHTF.

And SHTF could come as early as later this year, or could be as long off as sometime middle or end of next year.

[Dabs]

The wealthy have access to dark pools for trading, and off-market sales. Not on any of the usual exchanges.

But before they do that, they would probably buy a few hundred or thousands on the exchanges first.

[JayJuanGee]

I am not sure that it is so blunt we will see, these two months will lead us to the next trend, I think it will not have strength until it recovers between 20% or 30%, we will see what happens

Where have you been?

In recent times, we have had three decent sized corrections that were in the 30% area.

1) from $1350 to $890  (about 34%)
2) from $2760 to $1,850 (about 33%)
3) from $2980 to $2130  (about 28%)

Yeah, sure there could be another decent sized correction, but I would not count on it.  Sorry for your loss.   

But it is not too late to jump back on board and just suck up whatever amount it is that you lost.   

[BlindMayorBitcorn]

g's up hoe's down, get on the bit boat or you bound to drizown

[Torque]

The wealthy have access to dark pools for trading, and off-market sales. Not on any of the usual exchanges.

But before they do that, they would probably buy a few hundred or thousands on the exchanges first.

They could use extra $$$ to short the market and create dips in order to get a better off-market auction price.

Wouldn't you?

[BlindMayorBitcorn]

dips rule everything around me - dream, get the money  bitty bitty bills y'all