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

[Last of the V8s]

@AriDavidPaul
Funny line from a friend: my tax strategy is to hodl long enough that I outlast the IRS.
10:53 PM - 6 Jan 2018

-Jojo and Ari are mates
-Ari reads the WO thread and er extrapolates
-coincidence, convergent evolution, aliens etc

[luckygenough56]

spectre and meltdown comin, close your trading accounts before apocalypse

[Heater]

Sea of red, have you traded crypto before today.   

Mate you are reading too much into that. It just means most of the altcoins are - you know - red at the moment. I don't trade and I don't own any shitcoins coins so I really don't care if they go up down or sideways. I'm a good old fashioned permabull BTC hodler.

[HairyMaclairy]

I am currently 100% BTC on my BTC / USD account.  I will start selling down again as we hit $16k, to a low of 98% BTC.  Yes I am a hard bull because anyone not on the train when it leaves the station will be left behind.   Again.

I have Tether and Alts in my Alts account.  But that is firewalled from the BTC account and they don’t mix, other than taking profits in BTC which is a one way process. Those funds never come back to the Alts account.

Edit:  first sell at $15900 so no longer 100%....  

The problem from my perspective is that the weekend dip grossly underperformed. I was targeting buying back lower.  This is a strong bullish signal for the week ahead.

Don't get me wrong, because I am completely sympathetic for bullish inclinations, and it could be possible that we are merely using the terminology differently?


Or perhaps, I am just not as smart as you in terms of figuring out BTC price direction.


I know that you are proclaiming a pretty fucking strong indication that BTC prices are going UP from here - but really, how can you know for sure.  NO one knows... NOT even Roach.

What I am asking is what if prices go below $10k, then what you going to do?  If you have money to buy under $10k, then you are already NOT 100%, and we are merely using the term 100% differently.    

By the way, I have orders set all the way down to $3k; however, I think that the odds are quite low that any of them are going to be filled.. even filling orders below $10k is seeming like a pretty big stretch, but I still think that it remains a very prudent thing to prepare for the unexpected, no?    

1.  At the time of this post its 5.57 am on Monday in New York on the first real work week back from Christmas.  We know that the price drops during holiday periods.   This dip can be seen as the bears’ last blow off before life returns to normal.  

2.  We know that Bitcoin will most probably be listed for an ETF in coming months. The whales know it too. They have been trying to shake down the hodlers all Xmas break.  Their efforts have been fairly dismal.  When the ETF is announced (or rumored) the price will go vertical and Bitcoin will claw back its dominance as the alts quagmire sinks.  To me it is obvious this is a short lived dip.  Like I said, I am a bull.  

3.  I live my life in containers.  This forum is part of my Bitcoin box.  It is not allowed to touch the other boxes.  In 2014 I put was I was prepared to lose into the Bitcoin box.  Since then I have not put any more money in.  The box is mostly full Bitcoin but is allowed to sell some small amounts for pullbacks.  When I talk about being long, it is because my Bitcoin trading box is out of fiat.

4.  In the event of a major price drop, I might consider taking some money from other parts of my life (other boxes) and putting it into Bitcoin.  Not a drop to $8k which I would consider fairly minor, but a drop to $3k would get my attention.   I have been successful since 2014 and so what I am prepared to lose would be bigger, but it take a lot to let the boxes touch - it would need to be a life changing event.

In summary I think the confusion lies from us using our terminology in two different senses.  

[HairyMaclairy]

spectre and meltdown comin, close your trading accounts before apocalypse

Explain pls. Why close trading accounts ? I thought OS' were imminently releasing patches to mitigate this.

It’s a hardware issue. Software can’t fix hardware issues.   It’s also overblown if you are already following good security procedures like a paranoid holder.

[BitcoinBunny]

spectre and meltdown comin, close your trading accounts before apocalypse

Explain pls. Why close trading accounts ? I thought OS' were imminently releasing patches to mitigate this.

It’s a hardware issue. Software can’t fix hardware issues.   It’s also overblown.  

Indeed. It seems a bit like the Y2K bug panic to me.

Sure theoretically it is possible to exploit the speculative execution security bug but it is still much easier for attackers to try to install keyloggers remotely, or Windows mallware such as what happened with the NHS attack in the UK or setup a callcentre in India pretending to be Microsoft and phone random people and getting them to pay for unnecessary support or pretend to be from GoDaddy and phone new domain owners getting them to pay for unnecessary "domain activation" or even try to get them to give up their BTC wallet private keys or attacking crypto exchanges directly.

[iDonnieCoffee]

btc goes up, alts go down. btc goes down, alts go down. just stay out of alts...

It's a sea of red - ETH down on the daily now.

are there any particular news?

No news. Pure emotion.

There was a few tweets about TRON reminding everyone that shitcoins are shit, but that's an everyday occurrence (that gets ignored).

Bitcoin will be the biggest winner at the end of the day. ETH will probably bounce back too.

https://twitter.com/joelkatz/status/950242696848842752

could also effect BTC.

[BitcoinBunny]

btc goes up, alts go down. btc goes down, alts go down. just stay out of alts...

It's a sea of red - ETH down on the daily now.

are there any particular news?

No news. Pure emotion.

There was a few tweets about TRON reminding everyone that shitcoins are shit, but that's an everyday occurrence (that gets ignored).

Bitcoin will be the biggest winner at the end of the day. ETH will probably bounce back too.

https://twitter.com/joelkatz/status/950242696848842752

could also effect BTC.

This makes sense. I found it very strange that XRP dropped so fast whilst BTC didn't even move. If people came out of XRP, the vast majority would need to switch to BTC first surely.

[HairyMaclairy]

Hahaha that’s hilarious.  CMC needs to a bit more careful.  I assume the drop in Bcash is the same effect.  That’s really quite damaging to the Bcash shills, especially as they rely on a less technically sophisticated audience.

[BitcoinBunny]

Good to know the Korea market was only about $60 billion or so and not some ridiculous owning half of all cryptos ever nonsense.

[pawel7777]

...

https://twitter.com/joelkatz/status/950242696848842752

could also effect BTC.

This makes sense. I found it very strange that XRP dropped so fast whilst BTC didn't even move. If people came out of XRP, the vast majority would need to switch to BTC first surely.

The same Korean exchanges have also been excluded for BTC.

Don't understand why only 3 Korean exchanges have been excluded, while Coinnest and Coinrail are still included

[orpington]

Hahaha that’s hilarious.  CMC needs to a bit more careful.  I assume the drop in Bcash is the same effect.  That’s really quite damaging to the Bcash shills, especially as they rely on a less technically sophisticated audience.

haha bcash people are a bit thick yeah

[Torque]

...

https://twitter.com/joelkatz/status/950242696848842752

could also effect BTC.

This makes sense. I found it very strange that XRP dropped so fast whilst BTC didn't even move. If people came out of XRP, the vast majority would need to switch to BTC first surely.

The same Korean exchanges have also been excluded for BTC.

Don't understand why only 3 Korean exchanges have been excluded, while Coinnest and Coinrail are still included

Hahahaha, LMAO.

Now the pumpers won't be able to influence average price of shitcoins like BCash, XRP, EOS, etc. on coinmarketcap anymore. Controlling the tiny floats on those Korean exchanges won't matter.

Best news of the year so far.

[Last of the V8s]

https://www.spectator.co.uk/2018/01/why-cryptocurrencies-are-the-answer/
not too terribru

[lightfoot]

Interesting Bitcoin is hanging around 160,000 unconfirmed transactions yet total fees are only about 23 bitcoins with 3.4 transactions per second coming in.

The raw number of unconfirmeds are still high (normally I'd expect 50k or so) but the fees went down from thousands of bitcoins to a double digit number. Does this mean:

1) The remaining transactions are probably spam/dust
2) Fees to use the chain should be down
3) This is a good sign

?

[ragnar0k]

Anybody Any non-troll foresees a bottom here? :/

[milkshock100]

Have we just gone down 500 in 10 minutes ?

[svdleer]

Have we just gone down 500 in 10 minutes ?

5 minutes, the 15000 buy wall was pulled @ GDAX

[Torque]

Have we just gone down 500 in 10 minutes ?

5 minutes, the 15000 buy wall was pulled @ GDAX

Notice how they saved that last little ammo for the dump below 15k.

Classic bitcoin.

[ivomm]

Have we just gone down 500 in 10 minutes ?

5 minutes, the 15000 buy wall was pulled @ GDAX

As always Bitfinex is causing the dump. Between 13.09 and 13.19 roughly 1880 BTC were sold. They are hoping to cause panic and rebuy lower. Let's see if the traders will fall for that.