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

[Elwar]

When it was announced that Litecoin would use SegWit the price went from $10 to mid 30s. When SegWit activated the price crashed to the low $20s. Then gradually climbed to new ATH of over $50 over the span of a month or so.

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[york780]

You guys took your profit right? Guys?

[Searing]

You guys took your profit right? Guys?

If you mean ...'accumulating' more coin..yeah...

[Elwar]

I see...yesterday the software for SegWit2x was supposed to be ready for testing but:

Still have some minors bits n bobs (see issue tracker) to sort out, as well
as writing the release notes.  Will push those out this weekend, spinning
up gitian volunteer builders (join in!) this weekend.

The release candidate will largely be equivalent to the beta release, so
the best thing to do is to continue testing the beta (or master) on testnet
and mainnet.

--
Jeff Garzik

So the price is certainly following SegWit activation. The delay made people anxious and the price dipped.

[LFC_Bitcoin]

You guys took your profit right? Guys?

Not selling anything. You lose nothing if you sell nothing x amount of bitcoin's is still x amount of bitcoin's.

[ImI]

I guess it's time for Becoin to ask: "Who sold at the bottom?"

[Denker]

Nothing will happen on August 1st. As we have seen many times before, lots of drama.

I prefer we get HF and get rid of Chinese extortionists and their BUcoin.

Actually, it is the large players imho chruning up all this FUD...price drops...get more coin.....I suspect it will bounce right back after August 1st

and the whales spreading the FUD on forking/usaf/etc....will have to find a new method to drive the price down, to help their further accumulation of BTC.

rinse/wash/repeat

I also think it's the big guys (miners included) who play again all the drama and FUD just to increase their BTC wealth, meaning moar coins for their cold storage.
Becoin's method of buying some BTC every 10-15% drops is a good way of further accumulation and being be prepared and loaded for the next moon rocket.

[becoin]

I see...yesterday the software for SegWit2x was supposed to be ready for testing but:

Still have some minors bits n bobs (see issue tracker) to sort out, as well
as writing the release notes.  Will push those out this weekend, spinning
up gitian volunteer builders (join in!) this weekend.

The release candidate will largely be equivalent to the beta release, so
the best thing to do is to continue testing the beta (or master) on testnet
and mainnet.

--
Jeff Garzik

So the price is certainly following SegWit activation. The delay made people anxious and the price dipped.

SegWit2x != SegWit

[leowonderful]

Man, my next salary will probably be on my bank account on the 31st, no way to get money to an exchange before that, too bad.

Price will probably drop further after that so you may still have a good buying opportunity yet. August 1 will feature lots of chaos and if you're brave enough and can locate an exchange selling on that day, you may be able to buy some extra-cheap coin.

[kurious]

If you do have fiat, set sub 2000 bids up.  I did a week ago.

Can't see it holding all the way to the 1st at this rate whatever happens.  And if Segwit signalling doesn't look close at the end of the month it will get messier still; you may be looking at today's price with a wistful nostalgic sigh.

You think that the current movements are entirely related to Segwit and BIP 148 / Segwit2x?

Not entirely, no. There are technicals at play as well as an unsustainable bubble in alts (adding fuel) that had to at least consolidate if not end in tears.  So, a downturn after a nearly 3K high was probably inevitable for all sorts of reasons. 

However, the Bitcoin scaling scrap nearing civil war and potential fork etc. does add uncertainty. You must admit a potential fork is hardly going to inspire any confidence, especially in a market that has apparently peaked right now.

I hope it is an anticlimax - but talk of taking BTC off exchange and fear of the uncertain are hardly 'nothing'.  You can argue it's an excuse, but given what *might* happen, will you be surprised if Bitcoin flails around trying to discover a price over the next few weeks?

You have often (recently) argued BTC is not volatile.  I disagree with this.  I sold a fair few at a decent time to do so (it turns out) and I am still not buying back in yet.  The market is jittery and the scaling stuff is not helping at all and will be the focus of what happens, if not the whole reason.

[becoin]

Man, my next salary will probably be on my bank account on the 31st, no way to get money to an exchange before that, too bad.

Price will probably drop further after that so you may still have a good buying opportunity yet. August 1 will feature lots of chaos and if you're brave enough and can locate an exchange selling on that day, you may be able to buy some extra-cheap coin.

Buying on 1st August will be too late. Most sellers will try to close their shorts way before that date.

[White sugar]

After losing some coins trying to short alts and on top of that losing $ value for btc I sold everything.

Hope price reaches sub $1000 before August.

[Elwar]

Good article on what dates to keep an eye on.

https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

It looks like BIP91 will be a better way to activate SegWit next week as it would have miner support. BIP148 just kinda forces their hand to do it themselves first.

[dumpscan]

BTC soon below 1800 $

[micalith]

I wager that we're going sub $2k soon. Question is, are we going to bounce off $2k for a while or plough right through it first go?

[VC George]

Um I have a theory for the latest correction. Yesterday I read about the busting of AlphaBay and at least one of their admins. The article went on to say that they averaged around 600~800k in sales daily which in my head is a daily support of some 500k. Can this have some correlation with the price or not? I mean getting half a million dollars off table every day is something.

[Prova123]

any expert here with some graphs and with some levels to monitor?

[becoin]

Can this have some correlation with the price or not? I mean getting half a million dollars off table every day is something.

No.
Those half a million dollars are bought and sold against bitcoin every day. They don't stay in bitcoin.

[becoin]

any expert here with some graphs and with some levels to monitor?

Price will go down until Bitmain goes down.

[FractalUniverse]

nice. i got filled at 2010, average price now 2098; first take profit limit at 2068, my next buy level unchanged 1855.

Its getting interesting now, my bet is that we will close today still above 2000. but its likely going to drop below before it gets back above