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

[JimboToronto]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking. 

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

Bingo. Whenever the price of fiat rises to a peak, I take my profit by buying more Bitcoin.

[1715012014]

1715012014

[1715012014]

1715012014

[Torque]

Anyone who sat in fiat all this year, watching bitcoin's price rise from the sidelines, got destroyed. Those are gains against inflation that they will never get back.

In fact every year that they sit in fiat and Bitcoin's price ends the year higher than it started (doesn't matter if it is by $1), they are still losing bigly, getting poorer by the year. People need to wake up, they are just not getting it. There is no such thing as too late, bitcoin is not like a traditional investment, it is deflationary money.

[jojo69]

a little something for Bob

[bitserve]

* bitserve thinks toknormal didn't receive the memo with bitcoinPsycho's optimism chart

[sirazimuth]

a little something for Bob

huh!
never seen that pokemon...is it a trainer or somthin?

[Icygreen]

I must have forgotten to save the link to the tracking of coinbase user accounts. I think it was Torque who posted it. Anyone kind enough to share it again.

Hey man! Yeah, they have a tally right on their home page, just scroll down a bit where it says "customers served". Currently at 12.8M accounts. It looks like they added ~400K accounts in just about the past week or two. I'm hoping they can average ~1M new accounts per month all through next year.

Thanks, you had found and posted a historical chart as well. Was hoping to see this to get an idea of user adoption on a time scale. If you don't have it saved, I'll just scroll through your posts for the past month or so.

[HairyMaclairy]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking.  

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

I cashed out my original investment out when it had gone 10x, leaving me with 90% of my portfolio.  I have also diversified into other leading currency cryptos (none of that ICO garbage).  So my current portfolio is now 85% bitcoin, 13% bitcoin competitors (including some longshots)  and 2% USD on exchanges.  I also split my holdings across multiple exchanges to reduce counterparty risk for stuff that is not on hard wallet.

I sleep a hell of a lot better at night knowing that I am defensively hedged. Yes - it could cost me millions in the long run but insurance is expensive.  You hope you never have to use it but, but it is there just in case.

[HairyMaclairy]

I must have forgotten to save the link to the tracking of coinbase user accounts. I think it was Torque who posted it. Anyone kind enough to share it again.

Hey man! Yeah, they have a tally right on their home page, just scroll down a bit where it says "customers served". Currently at 12.8M accounts. It looks like they added ~400K accounts in just about the past week or two. I'm hoping they can average ~1M new accounts per month all through next year.

Thanks, you had found and posted a historical chart as well. Was hoping to see this to get an idea of user adoption on a time scale. If you don't have it saved, I'll just scroll through your posts for the past month or so.

I would love to see a chart of downloads vs price.

[Torque]

I must have forgotten to save the link to the tracking of coinbase user accounts. I think it was Torque who posted it. Anyone kind enough to share it again.

Hey man! Yeah, they have a tally right on their home page, just scroll down a bit where it says "customers served". Currently at 12.8M accounts. It looks like they added ~400K accounts in just about the past week or two. I'm hoping they can average ~1M new accounts per month all through next year.

Thanks, you had found and posted a historical chart as well. Was hoping to see this to get an idea of user adoption on a time scale. If you don't have it saved, I'll just scroll through your posts for the past month or so.

Here's the only one I've seen. I'm not sure where you can find a live updated version.

[vortex1878]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

[OdalvHacked]

No and Yes. "We will receive SEPA transfers in EUR and will convert them to USD according to our bank exchange rates."
Bitstamp trades pair BTC/USD. Not pair BTC/EUR.

You can swith to BTC/EUR.

of course, that is simple math. But the trades are i USD. BTW, we have in Europe not only euro. Euro is miserable currency.

as far as I know you can trade $ AND €. the € market is not really deep and it is hard to get larger orders through. it is separate from the $ marketplace

Yes, you are right.

You will send them the euros, and they will convert them to dollars. It is not trading in euro.

dude. when you have no clue, why even bother to post? you can trade €/bitcoin on bitstamp. and you can trade $/bitcoin on bitstamp. this has nothing to do with the funding method. two separate market places. the $ marketplace has lots of liquidity, the € marketplace is not so liquid.

I traded EUR/BTC (it looks like no liquid enough), but my trades thousands of euro tens of bitcoin was executed imediatly.

[bones261]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

I can't withdraw everything from Bitfinex because all I have with them is dust since August 2016. 

[Wekkel]

Because you have some trouble with an IOTA withdrawal, you urge the rest of the world to leave Bitfinex?

Apparently, IOTA is still a bit too BETA for your nerves (or cryptocurrencies in general). Get a grip.

[ivomm]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

https://twitter.com/bitfinex/status/932287734152081408

[Torque]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

https://twitter.com/bitfinex/status/932287734152081408

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

[yefi]

Well it's got 14 times more price. (of 12 months ago).

Not different times. A spike is a spike and it's heading back to 2k or lower for consolidation before the next wave.

Just be glad if it's 2000 and not 200.

I'd wait for the top before calling the bottom?

Also, I seem to recall chartists discounting as remote the possibility that we'd reach these levels on this bull run.

[gentlemand]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

[jojo69]

wave 5 of this motherfucker is going to be a beast

[Torque]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

The funny thing is though, I'm not sure any of these exchanges are fully solvent. They could all be running fractional reserves. Or leveraging user account coins against other investments. Hence the reason why the whole "yearly independent bitcoin audit" thing seemed to have died 2-3 years ago.

[bones261]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

The burden of proof should always fall on the party that can show the affirmative. Bitfinex can prove they are solvent.