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

[Arriemoller]

This will be a Fiat race tomorrow. In Europe today is public holiday so no banks are working. I´am expecting loads of money flooding the exchanges tomorrow  
This would be a nice dip to buy...

No public holiday in Sweden, what holiday are you talking about?

Already mentioned that a little later. To correct myself: In the important parts of Europe is public holiday today   (just joking)

Don't know about the "important" part, but you catholics do have a lot more holidays than we do, Luther did away with way too many saints. But still, what holiday is it?

[Ludwig Von]

This will be a Fiat race tomorrow. In Europe today is public holiday so no banks are working. I´am expecting loads of money flooding the exchanges tomorrow  
This would be a nice dip to buy...

No public holiday in Sweden, what holiday are you talking about?

Already mentioned that a little later. To correct myself: In the important parts of Europe is public holiday today   (just joking)

Don't know about the "important" part, but you catholics do have a lot more holidays than we do, Luther did away with way too many saints. But still, what holiday is it?

Ascension of Mary

[BTCtrader71]

Is this that ackward moment in which people that were praying for a dip a few hours ago are now too scared to rebuy?

BIP 141 (Segregated Witness) activation is scheduled to take place in: 1175 Blocks (8.15 days)

Hi bitserve,

Do you think the price will go up after activation in just over a week? I mean surely it's priced in as it's a guarantee now. Seems strange it going up at that moment when everyone knows about it.

Also I know btc is it's own beast but didn't litecoin drop after activation and then increase in price later?

Love to know everyone's thoughts here.

The only reference I can use is Litecoin. It kept pumping until just after activation. Then a mild drop that took some days(?)  to recover.

At the moment, Bitcoin is doing exactly the same. So it should keep rising until activation. I wouldn't be surprised if it breaks 5K during last days/hours before activation.

Of course, both are not the same. Litecoin didn't need Segwit as much as Bitcoin does, because it had no capacity problem... but Segwit is much more than that though.

There have been some interesting advances in Segwit wallets and even in Lighting Network. I think it will be those advances what will propel Bitcoin to new heights, but not sure if it will be right after activation or a few months later.

Also, Segwit "capacity increase" will become more noticeable as soon as more people and services start using segwit tx's, something that will come gradually over the next few months.

In conclusion, I don't fucking know.... But I think the scenario is very bullish and that, even if it dips now, it should keep rising later.

Right here I'd like bitserve, rjclarke2000, Elwar, Torque, lightfoot, infofront, JimboToronto and Searing's opinion.

Interesting times are coming. Segwit is about to activate. We already know Litecoin's behavior. But things are different right now. Another fork is about to happen. And this is not like the previous, when the honey badger just ignored the altcash for our cheers. About 8 days from here we may see Bitcoin's price submerge and another alt rise with (maybe) half BTC's value.

In my opinion it would be similar to March's Winklevoss ETF. There happened a rush from $800+ to $1200+ in a few minutes, then... BOOM! Two months to recover to another (very celebrated) ATH.

Not that I care about it, I learned my lesson from afrocoin's irresponsibility. I'm a Matrix hodlr since then.
I'm asking only because I'd like to have some help to predict a window where I could buy some cheap coins.

Thank you for you attention.

I know you didn't ask for my opinion, but I figured I'd toss in my thoughts anyway ...

I wouldn't draw too many parallels between price action around segwit activation for litecoin vs bitcoin. There's a tiny but nevertheless worrisome chance -- especially worrisome to new investors -- that SegWit activitation in 8 days will trigger some unexpected software bug and cause some sort of technical disaster. So when SegWit activates and the first SW transaction propagates without mishap, that could be a little bullish. So same effect as bip141 lock-in, although maybe not as pronounced. Up until a few weeks ago, investors have been viewing litecoin as a hedge against the possibility of unending deadlock on the scaling debate. SW lockin and activation was less of a concern for litecoin than for bitcoin, relatively speaking (relative to the other forces driving litecoin price).

For context, I'm viewing this under the assumption that the current uptrend is fueled by institutional investors who are just now getting comfortable with bitcoin investing. So I try to interpret events from what I imagine their perspective to be.

[fabiorem]

It seems I lost a small dip on $3800. Very fast train this one.

Will refuel my rocket anyway.

[Arriemoller]

This will be a Fiat race tomorrow. In Europe today is public holiday so no banks are working. I´am expecting loads of money flooding the exchanges tomorrow  
This would be a nice dip to buy...

No public holiday in Sweden, what holiday are you talking about?

Already mentioned that a little later. To correct myself: In the important parts of Europe is public holiday today   (just joking)

Don't know about the "important" part, but you catholics do have a lot more holidays than we do, Luther did away with way too many saints. But still, what holiday is it?

Ascension of Mary

Thanks.

[HanvanBitcoin]

Well i guess it wont be going much lower. Just  bought the dip  

BTCest dicision i made today   hahaha (Bought at $3895)

[Icygreen]

Is bitstamp bugging out for anyone else? Tradeview is hanging for me. West coast N.America

EDIT: working again. Their servers must be under a big load.

[Torque]

https://mises.org/blog/why-cryptocurrencies-will-never-be-safe-havens

So, a goldbug on a pro-PM website writes a blog about why Bitcoin will never be a safe haven asset like PMs.

Wait scratch that, he never implied that Bitcoin won't. He said "Bitcoin and other cryptocurrencies" won't.

Wait scratch that, not only did he use the term cryptocurrencies plurally and as a whole, he included ICO tokens as further justification.

So let much just set the record straight for these ignorant and misinformed people:

No you're correct, "cryptocurrencies" LIKE Bitcoin (altcoins, etc.) or ICO tokens as a whole will NEVER be safe haven assets.

But Bitcoin specifically WILL be.

[Last of the V8s]

[jojo69]

snip

http://stuffin.space/

[rjclarke2000]

Deepcolderwallet

I would not be surprised if there is a dip after activation. I then am not sure from then until the November fork. There will be obvious FUD around and this usually causes a drop in price.

I wouldn't be confident to say where the price will be until after the November shenanigans. If all goes will after the fork I can see us finishing this year over $5k with not too much trouble. I'm not saying 2xxxs are out of the question but I'm pretty confident we will finish this year higher than we are now.


I am no trader, I just hodl but I enjoy playing with a little TA and apart from any unforeseen events we know what fundamentals we have in store so judge how you will.


I'm sure there are people here who's opinion is far more solid than mine anyway.

These are just my thoughts on the matter but I'm trying not to be too bullish.

[rjclarke2000]

Who is that V8??

[machasm]

You guys think it might be time for another poll?
We are only half way through the month and already above the top spot (well before the other two options were added, I had already voted before they were added!)

[Ludwig Von]

https://mises.org/blog/why-cryptocurrencies-will-never-be-safe-havens

So, a goldbug on a pro-PM website writes a blog about why Bitcoin will never be a safe haven asset like PMs.

Wait scratch that, he never implied that Bitcoin won't. He said "Bitcoin and other cryptocurrencies" won't.

Wait scratch that, not only did he use the term cryptocurrencies plurally and as a whole, he included ICO tokens as further justification.

So let much just set the record straight for these ignorant and misinformed people:

No you're correct, "cryptocurrencies" LIKE Bitcoin (altcoins, etc.) or ICO tokens as a whole will NEVER be safe haven assets.

But Bitcoin specifically WILL be.

The Spitznagel article was also published on Zerohedge. Ludwig Von Mises has turned around in his grave... .

[Torque]

The Spitznagel article was also published on Zerohedge. Ludwig Von Mises has turned around in his grave... .

I like gold and silver for different reasons (as insurance). But some of these goldbugs are either being disingenious or just plain stupid in their arguments against Bitcoin.

If one could create an unlimited number of different kinds of fools gold with similar properties, would that diminish belief in true Gold as money or wealth storage value? Would that cause Gold's price to automatically drop?

No I think not. Not for people who truly believe in Gold vs. those that believe in all of the alt-gold substitutes.

It's the same for Bitcoin. Just because an infinite number of altcoins can be created does not defacto diminish Bitcoin's value to the true believers. Otherwise every single time an alt was created, Bitcoin's price would automatically drop a corresponding amount. Which it never does.

Same for moissanite vs. diamond. Even though moissanite can be created in a lab and has superior spectacular brilliance/clarity vs. most diamond, there are still those who value diamond more and will likely always do so and pay more for it.

[Last of the V8s]

Who is that V8??

@ToneVays and Julia something i forget @BraveTheWorld

[Last of the V8s]

snip

http://stuffin.space/

Fantastic stuff

for info:

[gentlemand]

http://stuffin.space/

Holy shit. What an utter disgrace. It's incredible the ISS isn't flattened 500 times a day.

[rjclarke2000]

snip

http://stuffin.space/

Fantastic stuff

for info:

Come on Africa, sort it out.

[deepcolderwallet]

Is this that ackward moment in which people that were praying for a dip a few hours ago are now too scared to rebuy?

BIP 141 (Segregated Witness) activation is scheduled to take place in: 1175 Blocks (8.15 days)

Hi bitserve,

Do you think the price will go up after activation in just over a week? I mean surely it's priced in as it's a guarantee now. Seems strange it going up at that moment when everyone knows about it.

Also I know btc is it's own beast but didn't litecoin drop after activation and then increase in price later?

Love to know everyone's thoughts here.

The only reference I can use is Litecoin. It kept pumping until just after activation. Then a mild drop that took some days(?)  to recover.

At the moment, Bitcoin is doing exactly the same. So it should keep rising until activation. I wouldn't be surprised if it breaks 5K during last days/hours before activation.

Of course, both are not the same. Litecoin didn't need Segwit as much as Bitcoin does, because it had no capacity problem... but Segwit is much more than that though.

There have been some interesting advances in Segwit wallets and even in Lighting Network. I think it will be those advances what will propel Bitcoin to new heights, but not sure if it will be right after activation or a few months later.

Also, Segwit "capacity increase" will become more noticeable as soon as more people and services start using segwit tx's, something that will come gradually over the next few months.

In conclusion, I don't fucking know.... But I think the scenario is very bullish and that, even if it dips now, it should keep rising later.

Right here I'd like bitserve, rjclarke2000, Elwar, Torque, lightfoot, infofront, JimboToronto and Searing's opinion.

Interesting times are coming. Segwit is about to activate. We already know Litecoin's behavior. But things are different right now. Another fork is about to happen. And this is not like the previous, when the honey badger just ignored the altcash for our cheers. About 8 days from here we may see Bitcoin's price submerge and another alt rise with (maybe) half BTC's value.

In my opinion it would be similar to March's Winklevoss ETF. There happened a rush from $800+ to $1200+ in a few minutes, then... BOOM! Two months to recover to another (very celebrated) ATH.

Not that I care about it, I learned my lesson from afrocoin's irresponsibility. I'm a Matrix hodlr since then.
I'm asking only because I'd like to have some help to predict a window where I could buy some cheap coins.

Thank you for you attention.

I know you didn't ask for my opinion, but I figured I'd toss in my thoughts anyway ...

I wouldn't draw too many parallels between price action around segwit activation for litecoin vs bitcoin. There's a tiny but nevertheless worrisome chance -- especially worrisome to new investors -- that SegWit activitation in 8 days will trigger some unexpected software bug and cause some sort of technical disaster. So when SegWit activates and the first SW transaction propagates without mishap, that could be a little bullish. So same effect as bip141 lock-in, although maybe not as pronounced. Up until a few weeks ago, investors have been viewing litecoin as a hedge against the possibility of unending deadlock on the scaling debate. SW lockin and activation was less of a concern for litecoin than for bitcoin, relatively speaking (relative to the other forces driving litecoin price).

For context, I'm viewing this under the assumption that the current uptrend is fueled by institutional investors who are just now getting comfortable with bitcoin investing. So I try to interpret events from what I imagine their perspective to be.

Thank you, your serious reply is very welcome.
If I recall correctly ETF's result was exactly what we can describe as a "buy the rumor, sell the news" event. Don't you think this "uptrend fueled by institutional investors" can be analogous move for an "already-vaccinated" market?