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

[realr0ach]

...real money now (physical silver).

"Real money" that's totally iliquid ?

Is that not a contradiction terms ?

I have never had a problem with metals liquidity.  If you live in a small town, you will probably have liquidity problems with everything though, such as trying to find someone to work on a BMW...or any car that's not....a ford...

[ParabellumLite]

Interesting how there is so little talk around here about how many Chinese BTC Western exchanges will be able to absorb in the first place.
Because rest assured: what cannot be sold in China will be sold in the West.

Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case.  Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.

Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.

I'm curious how people think about these questions, as there is way too little attention for such things here.

[Torque]

This seems like blatant stop loss hunting to me.

Bullish?

[BlindMayorBitcorn]

This seems like doom to me. Say goodbye to your riches. 

[toknormal]

Here's the real reason why China is "banning bitcoin" again.

Because their own currency is sh........

[ParabellumLite]

I wonder how many people were ensnared in yesterday's bulltrap.

[BlindMayorBitcorn]

I wonder how many people were ensnared in yesterday's bulltrap.

I can probably name a few.

[Torque]

This seems like doom to me. Say goodbye to your riches. 

Did you wet your wittle panties? Maybe you should sell for that comfy fiat nipple.

[leowonderful]

Ok, was only half expecting going below $3,500 / USD.

Any bets we see $3k USD by EOD ?

It's pretty likely seeing what's happening right now. Assuming no more news like this comes out I expect 3000-3100 by EOD.

[Dakustaking76]

Can someone give me a good explain, Why are we going So much down?
I can understand a correction going to €2600 kraken price.. But that would Be insane Thats like more the
€1200 correction in price..
Beceause btc rised from there above €3k

So what you guys think about iT?

[Denker]

The lack of fear here makes me think this has further to go down.  I am still operating under the assumption that we will see another upleg after this, but the sentiment is starting to make me doubt.  But maybe this forum is too "specialized" to get an accurate reading of the sentiment of the new money.

EDIT: ^ thanks ghandi for the above post giving me some hope 

Most of the guys here posting are legendary and hero accounts! Therefore this is not the first bigger correction for us. The longer you are in this space the more you know how this game is getting played by the whales. You get used to it and can deal with that situations much more relaxed.
Furthermore it's again another great opportunity to pick up moar corn for a nice discount. You don't need to catch the bottom, just layer in. Easy-peasy!

[realr0ach]

That's a joke.  There is no "advanced tech" coin to switch to, they're all designed to centralize.  Your question is basically:  "hmm, should I use centralized bitcoin or even more centralized ethereum".  None of them solved any of the fundamental problems required.  Not even captcha coins work because you can always create a program to solve the captchas.  

Decentralization is not a solvable problem in cryptocurrency, hence no reason to use any of this stuff over silver.  All work done on so called "blockchains"will just be harvested by govts and corparations to use in their own personal enslavement tools (federated chains).

[leowonderful]

The mempool is absolutely blowing up right now: https://jochen-hoenicke.de/queue/#2h seems like there's still plenty more people trying to get out. Under $3000 is looking pretty likely right now. Nothing we can't handle, though.

[fabiorem]

Interesting how there is so little talk around here about how many Chinese BTC Western exchanges will be able to absorb in the first place.
Because rest assured: what cannot be sold in China will be sold in the West.

Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case.  Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.

Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.

I'm curious how people think about these questions, as there is way too little attention for such things here.

It will rise because of current development, like the lightning network, satellites and all those other things proposed in the Segwit papers. Also, there's card projects like TenX and Proof which wants to make crypto-currencies useful, turning some alt-coins into daily cash, like litecoin, dash, bcash and ethereum, and this would increase the importance of bitcoin as a reserve coin, like gold is to fiat, hence increasing the market cap. People would use bitcoin only to buy big things, holding it as a store of value mostly, and trade would focus more in those alt-coins next to it.

Since bitcoin would be used as a reserve, at some point development of bitcoin would halt, and then the alts would increase more than bitcoin. However, none of them would be near it in value, as gold still have more value than fiat. This will probably happen when bitcoin reaches 100k each and have a market cap similar to gold, and the alts combined will have four times this market cap, although divided between some 10-20 different alts (most of them will die over time due to ICO regulations).

[BlindMayorBitcorn]

This seems like doom to me. Say goodbye to your riches. 

Did you wet your wittle panties? Maybe you should sell for that comfy fiat nipple.

[xhomerx10]

This seems like doom to me. Say goodbye to your riches. 

 Darn!  I gave away my pants and now I'm about to lose my shirt. Oh well, even if I wanted to panic, my stash is in cold storage 7750km away.

[Wexlike]

Finally a good dip to buy in.

[realr0ach]

Fabio, you need to stick to hair commercials because nobody is buying this "dash is silver to bitcoin's gold" shit.

[Asrael999]

Interesting how there is so little talk around here about how many Chinese BTC Western exchanges will be able to absorb in the first place.
Because rest assured: what cannot be sold in China will be sold in the West.

Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case.  Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.

Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.

I'm curious how people think about these questions, as there is way too little attention for such things here.

At the moment Bitcoin is pretty much outperforming in % move terms just about every other crypto, so if I still have BTC I can buy more Altcoins now than I could this morning. It's all moving and the little caps are being hurt the most. Let's see where ETH is at if BTC goes back to $1000. Switching now is pointless - if necessary we can switch later.

[ImI]

Inb4 some asshole posting: "Who bought the dip?!"