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

[Denker]

Only a few weeks ago we were talking about what we would be doing if BTC reached a certain point. For some it was 5000$, for me it was 5000€.

I said that I wanted to buy a used Porsche 911 convertible.

Since then, I've adopted a real bitcoiner stance I guess. Now I'm thinking that if I buy that car, one year later I might realize that the BTC I spent on it could now buy me a house.

So the Porsche will wait.

It doesn't mean selling some of my stash is out of the question, just that for the moment it has to be for a very good reason.

Good decision you've made. Bitcoin will buy you several porsche in the future! And when you have to sell some significant amount of your holding, just for a car, to be honest that would be pretty dumb!!
Hold for at least 12 months after next halving and then decide if you want to sell some or all. To have the patience until that point will be absolutely worth it!!

[becoin]

Bitcoin is money. People don't really need money but the stuff they can buy with that money. If you really need something then don't hesitate, buy it. By selling part of your bitcoin stash you help other people buy their first bitcoin. The more people have bitcoins the more valuable is every bitcoin that is still part of your bitcoin stash. If nobody sells their bitcoins it will appreciate too fast and other people will decide bitcoin is too expensive and they'll buy altcoins!

[sirazimuth]

Who sold at the bottom?

Is that the 969th time you've posted that? 

One way to get post count up I suppose...

[RealMachasm]

MEMpool is empty !

Does that mean that fees will begin to drop since there is little to no backlog?
I assume that miners will be happy to include a transaction with a smaller fee than none at all?

[LFC_Bitcoin]

Goldman Sachs dump started already? Or just a small correction from 4970 to 4600?

Correction in my opinion, you've been around long enough to know that retraces always follow significant upwards price surges. 

[JayJuanGee]

Whoever dumped, many thanks for the cheap coins. Keep the good work!

<gribble> Bitstamp | Total bids: 46034286 USD. Total asks: 1994 BTC. Ratio: 23074.89489 USD/BTC. | Data vintage: 0.0156 seconds

The buy side is hitting record highs every other day. I can't possibly figure out why someone would want to sell significant sums at this point, unless they're trying to game the market. There will be a lot of hurt people who sold this year.

I think some people have preset exit points, such as when it reaches just under $5k, I'll sell x% which will allow me to say buy a car, or pay off my mortgage.
People have learnt from previous points ($1k) and decided to set their price point slightly under the round figure of $5k, I bet when we get near $10, people wil  have learnt from the $5K dumps and start even earlier.

Everyone knows that it will probably go up, but when you hit a life changing price target, you'd be mad to continue taking 100% risk.

But I'm still all in.

It is good to take some profits along the way, and whether you use that money to buy back in or to buy a new car is up to you.  Accordingly, we are approaching 20x profits in less than 2 years, and it would be less prudent not to take a little bit out.  I personally believe that it is a better practice to deal in increments rather than engaging in a large chunk, but I do understand that taking a large chunk would be more manageable.

Let's say, for example, that someone bought $10k worth at $250 and never took any profits.  At today's price, that would be about $190k... anyhow each of us have our thresholds, and I could appreciate if people decide to wait, also.

[MinermanNC]

Well, sort of glad I fell asleep when I did (around $4970), just in time to BTFD 

Lol, ya same here. Was going to sell a little for a trip tomorrow, but was to tired. Now I wake up and its all gone 

Well was worth more to sell last night than this morning......... guess ill wait now and hope it recovers some.....

[Meuh6879]

Bitcoin is dead. Again. Right ?

They try to suck the rise ...





But the don't have enough PUNCH !

[YamashitaRen]

I don't know but swings are getting smaller and smaller.
Bitcoin will soon have to choose if its want to go up... or down.

[savetherainforest]

I don't know but swings are getting smaller and smaller.
Bitcoin will soon have to choose if it want to go up... or down.

Well... basically with time the amount of volatility will get drastically reduced. And the only way will be up. And the thought of a "bear market" for me that is a notion that will happen in 20-30 years. So for now, we are good. It is normal.. natural almost.. this progression is good! The poor folk got their winnings when there where swings of 50% .. and now the rich folk get theirs at 1-2% swings. There will be a time when the price will be harder and harder to move without some kind of trader consensus.

[lightfoot]

Only a few weeks ago we were talking about what we would be doing if BTC reached a certain point. For some it was 5000$, for me it was 5000€.

I said that I wanted to buy a used Porsche 911 convertible.

Tricky. I bought a Porsche 928S4 with a few coins at the 2500/coin mark, and while it is a perfectly fine little car I do look at it sometimes and wonder why the value hasn't doubled in the past few months. But it brings me mental stimulation and joy, which is good.

Key life lesson ahead:

Remember that the one thing in life you can never get more of is time. It's even rarer than bitcoins, and can't be created by any force in the universe faster than it unfolds (like um... bitcoin). So if you really want a 911 convertible, and it's something that will return you a serious investment in joy, buy it now and not later. Because next year you will have one less year in your life to enjoy it; a year you will never be able to get back.

I would recommend a pre 1969 Targa of course, but I like the short wheelbase models. Then again they can and will kill you, so you might be better off with the 69-72 models which have the delightful MFI system or (if you're cheap and buying a 69-71 T) carbs. The 72 911T might be the best; I think it's the one with MFI and that funny oil port that everyone mistook for a gas tank port with hilarious results....

C

[Icygreen]

10% Labor Day discount!

[Neo_Coin]

And in the end panic selling starting, triggering all stop loss. Will see where to find a real support.  

[bones261]

Did Jimbo sleep in and lose another buying opportunity?

[YamashitaRen]

And in the end panic selling starting, triggering all stop loss. Will see where to find a real support.  

Now we know, 4450
Two regrets.
1) I thought about putting a limit buy order a big higher than 4450, didn't went for it and ended using one of theses overprice finex market orders at 4464...
2) Should have bought more instead of just closing my position

[UnDerDoG81]

Goldman Sachs dump started already? Or just a small correction from 4970 to 4600?

Correction in my opinion, you've been around long enough to know that retraces always follow significant upwards price surges. 

Yeah but seems like some people use the GS prediction to start panic selling. Could probably drop to 3.5 this time. Sad that those big players came into the game. Now they have controll over the price of bitcoin with simple predictions.

[d_eddie]

Did Jimbo sleep in and lose another buying opportunity?

No way. I'm betting he's soon going to post about buying at a good price with extra-good commission! 

[d_eddie]

Goldman Sachs dump started already? Or just a small correction from 4970 to 4600?

Correction in my opinion, you've been around long enough to know that retraces always follow significant upwards price surges. 

Yeah but seems like some people use the GS prediction to start panic selling. Could probably drop to 3.5 this time. Sad that those big players came into the game. Now they have controll over the price of bitcoin with simple predictions.

As time goes on, I think there will be fewer and fewer weak hands and more hardcore hodlers. It will get harder and harder to shake the tree for falling fruit.

[becoin]

Sad that those big players came into the game. Now they have controll over the price of bitcoin with simple predictions.

Sad people forget too fast. GS first prediction for this year top was at $3300. If they had any control thru those "predictions" we'd have been trading now at $2500 not at $4500!

[jojo69]

hmmmm, this is almost in buy territory...


almost