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

[natewelt]

Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.

[FractalUniverse]

I would prefer the next year to be without new ATHs, so there is a time for development dealing with high fees and clogged network.

[Wekkel]

First signs of life. If it goes back down again and reaches the $8,000 zone I will plow in extra cash.

[RejectedBanana]

breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.

exactly, next target 15950, log scale man, log scale

We only need to break 15600 on stamp to finish off the day with a green candle. 

[PoolMinor]

target 15950

I am thinking about ~$16,600....

[realr0ach]

Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.

You're crazy.  The BTC market is controlled by a VERY small number of people moving large amounts of cash.  As soon as bitcoin topped out, the same money that was used to pump BTC was all shifted into altcoins at Poloniex.  These are entities like Pantera capital, Goldman Sachs, etc, constantly going back and forth between coins like BTC and Ethereum.  The people who are actually moving these markets are all utilizing that loophole.  It doesn't matter what the small fish know.

[rjclarke2000]

I would prefer the next year to be without new ATHs, so there is a time for development dealing with high fees and clogged network.

There is a lot of wisdom here

[samson]

Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

If only there were other countries in the world which don't have this stupid rule, love to gamble and have billions of dollars worth of coins....cough...China....cough... 

[natewelt]

Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.

You're crazy.  The BTC market is controlled by a VERY small number of people moving large amounts of cash.  As soon as bitcoin topped out, the same money that was used to pump BTC was all shifted into altcoins at Poloniex.  These are entities like Pantera capital, Goldman Sachs, etc, constantly going back and forth between coins like BTC and Ethereum.  The people who are actually moving these markets are all utilizing that loophole.  It doesn't matter what the small fish know.

You act like tax law is clear hear when it's definitely NOT.

Taking the position that these transactions qualify as a LKEs is an extremely aggressive position to take tax wise. I sure as hell wouldn't take it.

[BTCMILLIONAIRE]

Today most of us are getting near-to-death experience again and again. But wasn't this dump expected? This was in fact much required and much expected as well, for stability of bitcoin's further rise. Nothing in the world just goes up and more up, with any correction. These corrections (big or small) are the requirement of time, and we're having them now. So it's good.

Though I don't think so that bitcoin is gonna go less than $10,000. The current dump should be enough of correction.

Been in this for too long to really get fazed much anymore. It was actually quite entertaining to see a small fortune being wiped out of my portfolio over night. Perhaps I'd get an NDE if we went down like 99% though... that would hurt.

[Lopumbo]

you know when GDAX is (as always) ~8% ahead the FOMO starts and the plebs stress their credit cards because CHEAP COINZ

[BTCMILLIONAIRE]

Liquidity in the altcoin market officially dies Jan 1st:

http://www.zerohedge.com/news/2017-12-22/trumps-tax-bill-may-be-reason-crypto-rout

But that news is also bad for bitcoin as a lot of the bitcoin demand was for gambling in places like the Poloniex casino, so it lowers liquidity for the entire crypto market.

I don't think many traders/investors/HODLERS actually know what a like kind exchange is so I don't think this is the reason for the route.

You're crazy.  The BTC market is controlled by a VERY small number of people moving large amounts of cash.  As soon as bitcoin topped out, the same money that was used to pump BTC was all shifted into altcoins at Poloniex.  These are entities like Pantera capital, Goldman Sachs, etc, constantly going back and forth between coins like BTC and Ethereum.  The people who are actually moving these markets are all utilizing that loophole.  It doesn't matter what the small fish know.

You act like tax law is clear hear when it's definitely NOT.

Taking the position that these transactions qualify as a LKEs is an extremely aggressive position to take tax wise. I sure as hell wouldn't take it.

Offshore and double tax treaties weeee. Or just expat and get over with it.

[tyler1890]

May 8 2018

[Gab0]

Sublime catharsis that we experience today. The fees, apparently, begin to decrease.

[HairyMaclairy]

Today most of us are getting near-to-death experience again and again. But wasn't this dump expected? This was in fact much required and much expected as well, for stability of bitcoin's further rise. Nothing in the world just goes up and more up, with any correction. These corrections (big or small) are the requirement of time, and we're having them now. So it's good.

Though I don't think so that bitcoin is gonna go less than $10,000. The current dump should be enough of correction.

Been in this for too long to really get fazed much anymore. It was actually quite entertaining to see a small fortune being wiped out of my portfolio over night. Perhaps I'd get an NDE if we went down like 99% though... that would hurt.

Indeed. The vast majority of us bought in triple figures (or less....).  This is just amusing. 

[Rosewater Foundation]

breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.

exactly, next target 15950, log scale man, log scale

How you managed to stay so cool and collected through all that, I'll never know. I had to literally sedate myself.

[jojo69]

breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.

exactly, next target 15950, log scale man, log scale

How you managed to stay so cool and collected through all that, I'll never know. I had to literally sedate myself.

dude, I got filled at 10870 last night while I slept...it's all just Bitcoin

[Rosewater Foundation]

breakout confirmed

No way. We still need to break above 16k on stamp to confirm. And even then I'd say don't call a breakout until new highs.

Down channel broken in any event.

Depends on what down channel you are talking about.

exactly, next target 15950, log scale man, log scale

How you managed to stay so cool and collected through all that, I'll never know. I had to literally sedate myself.

dude, I got filled at 10870 last night while I slept...it's all just Bitcoin

I got back in with my pittance as well. But it was mostly symbolic. I have to learn to panic with a larger percentage of my stash.

[Dabs]

Well ... I doubled my bitcorns ....

hats off, that, by definition, takes some serious gonads

Thanks.. It wasn't much. Just single digit, now double digits. This happens only once every two or three years, or I've managed to only do it twice so far.

I make more bouncing around the alts.

[bones261]

Today most of us are getting near-to-death experience again and again. But wasn't this dump expected? This was in fact much required and much expected as well, for stability of bitcoin's further rise. Nothing in the world just goes up and more up, with any correction. These corrections (big or small) are the requirement of time, and we're having them now. So it's good.

Though I don't think so that bitcoin is gonna go less than $10,000. The current dump should be enough of correction.

Been in this for too long to really get fazed much anymore. It was actually quite entertaining to see a small fortune being wiped out of my portfolio over night. Perhaps I'd get an NDE if we went down like 99% though... that would hurt.

Indeed. The vast majority of us bought in triple figures (or less....).  This is just amusing. 

I've already got a return on my investment fiat wise. However, watching my net worth plummet by thousands was not pleasant at all.  Oh well, keep plugging away with mining shitcoins with my 1070.