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

[Dotto]

Explanation:

[machasm]

The bitstamp chart reminds me of one of my fav led zepplin songs.
"Stairway to heaven".
Looking good Honey Badger.

[bones261]

So apparently CoinDesk bitcoin price index says we've already touched $4000 ... ? Not sure how that happened based on bitcoinity which shows $3970s as current ATH in some major USD exchanges but nothing over that (unless I've missed something)

https://www.forbes.com/sites/cbovaird/2017/08/12/bitcoin-surpasses-4000-reaches-another-milestone/#6e5a20f96a8c

Coindesk BPI uses OKCoin as one of the exchanges in their figures. They are definitely skewing the figures upwards.
https://www.coindesk.com/price/bitcoin-price-index/
https://bitcoinity.org/markets/okcoin/USD

[JayJuanGee]

Drat... I sold the last of once cold stored BTC at €2600, and now we are at €3225...   Didn't expect the climb after the pump, so did not buy back. And now, waiting for a correction (they always come) before buying back.

Most of you will lose your fortunes on the way to the top just like this. You have a mathematical certitude that bitcoin will go to hundreds of thousands of $ in price

...yet you fucks still get greedy like this.  

What a resentful and judgmental fuck you are.

Of course, hodlers are going to get excited.

Of course, there is going to be a lot of variance regarding when to sell and how much.

Also, it seems that we are currently in an upward trend that is likely to take us a bit of a ways.

I still say next resistance in the $4800 to $6800 territory, and then $8500 to $13000 territory.. and then $16500 to $19k thereafter.

WE gotta get through resistance in each of these areas, and I could see going to the $8500 to $13000 territory in this run, but I have a hard time with any kind of reasonable plausibility of the $16.5k to $19k... range... but what do I know?

Where have those resistance numbers come from JJG?

I don't engage in specific technical analysis, and I only make my assessments based on my ideas of momentum (and historical momentum in bitcoin too).. and likely sticking points that come at various price points - and the need for profit taking at various points, too that can change or interfere with momentum.  Furthermore, we have a kind s-curve technology that allows for a lot of upwards potential; however, these days (as compared with previous pre-2013 bubbles), there are a lot more ways to short bitcoin and to attempt to suppress bitcoin  - through various shorting and off-exchange (OTC) methods - including the considerably long period of price suppression between 2014 and 2015 - maybe even going into early 2016. 

Anyhow, the recent price suppression and the ability to short, and even the FUD spreading and the sabotage attempts with recent forking tactics does not mean that there is not still considerable amount of underlying fundamentals and s-curve adoption tendencies that is going to continue to put upwards price pressures as long as we get through various random price points that are percentages higher than previous ATHs.

So, maybe I am kind of using math, without any kind of mathematical precision and kinds of guessing about reasonable upwards price ranges? 

[practicaldreamer]

So, maybe I am kind of using math, without any kind of mathematical precision and kinds of guessing about reasonable upwards price ranges? 

And that, sir, is exactly what this thread is all about.

[Syke]

I am more interested in knowing if people whose net worth is orders of magnitudes lower also think buying a lambo is reasonable because it came as "free money" and think it will keep coming forever.

The more bitcoin goes up, the tighter I hold onto my coins. I once bought a yoyo for 4btc. I leave that yoyo on my desk to remind me to not make that mistake again.

[JayJuanGee]

I still can't wrap my head around the fact that we are seriously talking about prices like this (and being realistic)... bitcoin has come a long way

In a sense, not really. People still don't understand bitcoin and why price in the thousands is low.

Satoshi put an arbitrary number of coins (21mn) out there, and that's where the price is coming from. Had the supply been 21 Billion, instead of million coins, nobody would bother on whether bitcoin is 1-2-3-5-10$. It would seem "cheap". People would say, wow one day it can go to 100$ or 500$ (the equivalent of 100k or 500k for a 21mn supply) and nobody would say "you are greedy"... But because there are 21mn coins, the 5$ equivalent is 5000$ in our case. And still people don't get it and appear impressed by "high prices".

Bitcoin is like Berkshire stocks which cost a quarter of a million bucks without them being "expensive" - but rather as a consequence of the low number of stocks: https://finance.yahoo.com/quote/brk-a?ltr=1 ...if people don't get Berkshire pricing, it's unlikely they'll get Bitcoin pricing. And most of the time, they don't. Even those in Bitcoin don't get it.

I agree with everything that you said - except Berkshire has a problem with elitism and liquidity and divisibility.

Anyhow, once folks really get some concrete ideas about bitcoin's divisibility and the understanding that you can buy 1/1hundred millionth of a BTC, and maybe there is some more wider practices of pricing in lower level  (smaller) units, then it is likely going to take some time to get people to understand some of these unit confusion matters.

[orpington]

gonna be bumpy now

[Last of the V8s]

[steelboy]

About the smoking thing... Have you tried vaping? The vaping industry has evolved amazingly in last 5 years.

I haven't tried that. However, one of my goals is to eliminate this expense from my budget. Is vaping cheaper?

About the "heritage" you should be instructing her already on this stuff and what to do.

My partner is actually a he. We are not transgendered, so male pronouns are much preferred. (Not offended though at you. Common mistake. You don't know me and naturally assuming a straight relationship will always be the default assumption.) The problem with sitting down with him is that he fails to try and understand bitcoin. He has made it clear that I am not to spend any of our fiat on more bitcoin. I have on rare occasion did something sly to get a little more. Now when I try to sit him down, he knows how much my BTC is worth, and the pressure to sell from him starts up.The main issue is actually the amount of time that I spend tending to my BTC and Alts on the internet. Reading, fiddling with code. He hated Candy Crush and BONIC just as much when it took my time away from him.

ABout the richness... Maybe it won't make you rich... but try make it at least a sum that could change anything in your life.

True, the yield on it has been vastly better than my 401K.

Btw, some people consider that money is for spending. I think the money is for BEING ABLE to spend it. YOu are only able to spend money that you haven't already spent. Money gives freedom, spent money doesn't. Unless you know you only have like a few months left.....

True, even if I only have a few month left, at least the BTC will be able to pay for the funeral expenses right now. One less burden for my partner, if he can figure out how to liquidate the BTC.

Yes, it is way cheaper on the long run... unless you become one of those guys that buy everything that comes out and vape the most expensive gourmet liquids. I buy my stuff from china (www.fasttech.com), my liquids too at around $12 for 100ML, and only sometimes buy some of those gourmet overpriced liquids at local stores just for the heck of it.

Oh, and you can pay fasttech with BTC.

Maybe that is the best purchase you could do with BTC (besides a hardware wallet) and then either save all the money not spent in smoking or reinvest it on BTC.

For your first purchase I would maybe suggest you go to a local SPECIALISED store for their advice and all even if that means paying their overprice. From that point on you can go with fasttech and make the savings rain on you.

As for the heritage thing, well, it seems he is a non believer so maybe that's why he doesn't pay attention to your explanations. I have made provisions not just for LIQUIDATE, but instead for just spending from it using debit cards, etc.... I mean, how to use it for spending without having to liquidate.

Maybe you could come to an agreement in which he is fine with you buying your vaping stuff with BTC and reinvesting in BTC what you save in smoking? At the very least he will be happy you quit smoking and you will be happy with your newfound freedom for investing in BTC what previously was a spending in the most harmful possible way.

All great advice. 10 points to Gryffindor.

[jojo69]

that is...awesome...

[JayJuanGee]

Drat... I sold the last of once cold stored BTC at €2600, and now we are at €3225...   Didn't expect the climb after the pump, so did not buy back. And now, waiting for a correction (they always come) before buying back.

Most of you will lose your fortunes on the way to the top just like this. You have a mathematical certitude that bitcoin will go to hundreds of thousands of $ in price

...yet you fucks still get greedy like this.  

What a resentful and judgmental fuck you are.

Of course, hodlers are going to get excited.

Of course, there is going to be a lot of variance regarding when to sell and how much.

Also, it seems that we are currently in an upward trend that is likely to take us a bit of a ways.

I still say next resistance in the $4800 to $6800 territory, and then $8500 to $13000 territory.. and then $16500 to $19k thereafter.

WE gotta get through resistance in each of these areas, and I could see going to the $8500 to $13000 territory in this run, but I have a hard time with any kind of reasonable plausibility of the $16.5k to $19k... range... but what do I know?

I still can't wrap my head around the fact that we are seriously talking about prices like this (and being realistic)... bitcoin has come a long way

This is my first real bubble too... from $250 to $3800 is quite amazing, and surely having had made it past the earlier resistance makes these higher levels of resistance quite more realistic and plausible, especially since the rise from $250 has been decently gradual (over nearly two years) as compared with other exponential growth periods that were much shorter.  And, people were pretty fucking pessimistic in 2015, and some hodlers were selling parts of their stash and turning into bears, too... and even the participation in this thread was quite low, too.

So we are truely in better days in which the trend is our friend, especially if we can play it strategically and sell on the way up but not too many, because you want to have a decent stash, even if the unthinkable and the less likely scenarios play out.... that is $20k and then Adam's repetitively favorite $32k thereafer... hahahahaha  I plan to have sold some coins along the way and still have a decent stash of coins in any off those upwards and seemingly less likely scenarios.

I can't wrap my head around the ATH,s flashing past either. So I play a mental game and say
the price corrects 1/3 back to say from current price $3,750 to $2,475. But then that number freaks
me out, because I remember $650 btc last summer. Stuck in a loop. My head hurts.

In 2013 at $150 usd it was easy to think. Tulip money. Easy come easy go.

Er.   Now.  Not so much.

Really, it seems that we are on our way up and there is too much upwards momentum for the bears to fight it off and to put us into a bear market or a slump or even into a reasonable consolidation period.  Sure I could be wrong, and we could correct from here, but it seems that at minimum we gotta go to the $4800 to $6800 area first before a meaningful correction, a consolidation or even reverting to a bear market for a period of time.

On the other hand, if something really does go wrong with one or more of these forks that really causes undermining of confidence in bitcoin (which also seems not too probable at the moment) or some other fundamental and meaningful issue such as a loss of security or something like that... otherwise our momentum continues upwards and we have decent cushions in our funds, so long as we have largely been HODLers.  These are great times, fellow HODLers!!!!!  and maybe I should be making this post in the "this is gentlemen thread?"  hahahaha.

[ghandi]

here comes the dump.

[Syke]

Anyhow, once folks really get some concrete ideas about bitcoin's divisibility and the understanding that you can buy 1/1hundred millionth of a BTC, and maybe there is some more wider practices of pricing in lower level  (smaller) units, then it is likely going to take some time to get people to understand some of these unit confusion matters.

We only need to go up 250x to reach parity, 1 satoshi = 1 cent. Then things get extremely interesting.

[rjclarke2000]

Anyhow, once folks really get some concrete ideas about bitcoin's divisibility and the understanding that you can buy 1/1hundred millionth of a BTC, and maybe there is some more wider practices of pricing in lower level  (smaller) units, then it is likely going to take some time to get people to understand some of these unit confusion matters.

We only need to go up 250x to reach parity, 1 satoshi = 1 cent. Then things get extremely interesting.

Up 250x??? I'm bullish but not that bullish.

Wow.

[JimboToronto]

Just back from the ballpark and I see both my teams won, Jays 7-2 and Bitcoin ATH $3952USD/$5012CAD (Bitcoinaverge).

Now we're having a nice little correction/profit-taking to keep things honest. Not deep enough to buy but good enough to make sure we're not in a bubble.

Life is good. Go Bitcoin go.

[jojo69]

welcome back Jimbo...GO JAYS!

How was Rowley??

[orpington]

ok lets all pile back in now - cheap bitcoins yay!

[Ludwig Von]

Anyhow, once folks really get some concrete ideas about bitcoin's divisibility and the understanding that you can buy 1/1hundred millionth of a BTC, and maybe there is some more wider practices of pricing in lower level  (smaller) units, then it is likely going to take some time to get people to understand some of these unit confusion matters.

We only need to go up 250x to reach parity, 1 satoshi = 1 cent. Then things get extremely interesting.

Up 250x??? I'm bullish but not that bullish.

Wow.

Of course, when the free FED/ECB/BOJ money  flows in BTC via the banksters and other Wallstreet gangsters  that will happen. Only, by that time a beer will cost 500000 USD/€

[Torque]

I am more interested in knowing if people whose net worth is orders of magnitudes lower also think buying a lambo is reasonable because it came as "free money" and think it will keep coming forever.

I think buying a lambo is the stupidest thing in the world, period. I wouldn't buy a lambo if I had the extra cash, and I CERTAINLY wouldn't have liquidated any bitcoin to buy it. Probably the dumbest move he made. In the end a lambo is not going to hold it's value long term, and it's fun factor will wear off very quickly.

It's like the crown jewel of a complete narcissistic tool. They care way more about the silly car than anyone else does. Whenever I have seen someone driving one, I automatically think they are a giant douchebag, because probability says they are.