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

[Phil_S]

We're going back to 15k today, I can feel it!

[Torque]

We're going back to 15k today, I can feel it!

I feel fairly certain that the group that has been shorting since $17k is the same group that started pumping the market on 1/2. They've been building a sizable short position ever since. Alts are going to get rekt soon.

[TERA2]

What makes you think someone is taking a 'sizable' short? Who would want to take a sizable short? Bitcoins are so scarce. If I was shorting, I would want my position to be as small as possible: For example, one satoshi.

[conspirosphere.tk]

I HODL what I can after that pound of flesh is taken out by the Taxman.

it's a bit more than a pound:

[fluidjax]

The path to enlightenment...


December/January
I'm getting into cryptocurrency, gonna buy me some Bitcoin
Nah, Bitcoin is too expensive, there are these Altcoins, I'll buy me some Ripple & Tron they are really cheap and everyone says its going to the moon.
Oh, I'm gonna sell those now I fully understand cryptocurrencies, most of these Altcoins are shit, I'm gonna just get the best ones like Ethereum & Bitcoin Cash.
Look I was right Bitcoin is finished it's going down.
.
..
.
Some time later that year
Oh shit, I really scerwed that up, gonna sell all my shitcoins and get Bitcoin again.

[fabiorem]

Are we in a bear market, gentlemen? Seems that the market is freezing.

[AllGoodNamesAreTaken]

We're going back to 15k today, I can feel it!

I think it will all be about Ethereum the next few days...

[conspirosphere.tk]

Are we in a bear market, gentlemen? Seems that the market is freezing.

not yet on the daily.

[Asrael999]

Kodak, wow just wow, 400% in two days - not bad for a company that destroyed itself by ignoring digital photos.

[Deeyoh]

The vacuum of the ripple implosion is pretty amazing.   Haha, it sure is rippling the market.  You know, I almost feel bad for the people that invested in it.

[Torque]

Kodak, wow just wow, 400% in two days - not bad for a company that destroyed itself by ignoring digital photos.

Here's a script for any ailing company:

1. Start pushing an internal cryptocoin or blockchain integration agenda
2. Quietly buy up company stock shares for 6 months
3. Publically announce said crypto agenda, even it is complete vaporware
4. Watch shares of stock get pumped jump 400-500% overnight
5. Profit !

[Paashaas]

The vacuum of the ripple implosion is pretty amazing.   Haha, it sure is rippling the market.  You know, I almost feel bad for the people that invested in it.

Ask my boss how he feels about his Ripples 

He's already a (fiat)millionair but still believes Bitcoin is to expensive while i advised him serval times that you can buy Bitcoin for $50 and $100 etc.

Best part is that i told him i bought the dip during X-Mass....Boss: b...but did you spend $12.000? lol.

He had Bitcoin but sold all below $1000 while i strongly adviced him to HODL!

Most people here are miles ahead of the unknow, sheeps will never listen, just like talking to a wall no matter how many times you explaining it to them.

[sirazimuth]

Oh Kodak... lol

http://www.businessinsider.com/kashminer-kodak-bitcoin-mining-2018-1

Looks like they just stuck a Kodak sticker on the
side of an S9....

[Enjel]

The path to enlightenment...


December/January
I'm getting into cryptocurrency, gonna buy me some Bitcoin
Nah, Bitcoin is too expensive, there are these Altcoins, I'll buy me some Ripple & Tron they are really cheap and everyone says its going to the moon.
Oh, I'm gonna sell those now I fully understand cryptocurrencies, most of these Altcoins are shit, I'm gonna just get the best ones like Ethereum & Bitcoin Cash.
Look I was right Bitcoin is finished it's going down.
.
..
.
Some time later that year
Oh shit, I really scerwed that up, gonna sell all my shitcoins and get Bitcoin again.

This is exactly what I'm thinking. Fad altcoins are fads, and will fade into obscurity. TRX has no working product, and many of the others coins just have expensive looking teams, impressive white papers, big promises, and nothing else. XRP is a scam, and total supplywould easily show its massive overvaluation, as opposed to circulating supply.

On the other hand, riding up on good altcoins will work out. ETH is not a shitcoin by any means.

[BitcoinBunny]

Oh Kodak... lol

http://www.businessinsider.com/kashminer-kodak-bitcoin-mining-2018-1

Looks like they just stuck a Kodak sticker on the
side of an S9....

That's exactly what I thought.

What's stopping the likes of Coca Cola doing the same and creating Coca Cola Coin CCC or McDonald's coins: MDC: McCoin?

In other news looks like we are going up again.

[Enjel]

The vacuum of the ripple implosion is pretty amazing.   Haha, it sure is rippling the market.  You know, I almost feel bad for the people that invested in it.

Ask my boss how he feels about his Ripples 

He's already a (fiat)millionair but still believes Bitcoin is to expensive while i advised him serval times that you can buy Bitcoin for $50 and $100 etc.

Best part is that i told him i bought the dip during X-Mass....Boss: b...but did you spend $12.000? lol.

He had Bitcoin but sold all below $1000 while i strongly adviced him to HODL!

Most people here are miles ahead of the unknow, sheeps will never listen, just like talking to a wall no matter how many times you explaining it to them.

A million dollars a year will soon become the poverty-line wage. The poverty line wage today was amazing money a few decades ago.

You would literally have to make like 100 million USD in crypto to be able to retire in 40 years, and quit your job and stuff.

Not much to do with your story, but just a thought!

[d_eddie]

Meanwhile, the swings continue. They seem narrower. Nearly 14.5k right now (gdax).

Bob, do you have that country song ready yet? Festival planning is in Phase 2.

[Torque]

ETH is not a shitcoin by any means.

Says you. I beg to differ.

EDIT: Downtrend line broken on the 6h.

[Phil_S]

Kodak, wow just wow, 400% in two days - not bad for a company that destroyed itself by ignoring digital photos.

Here's a script for any ailing company:

1. Start pushing an internal cryptocoin or blockchain integration agenda
2. Quietly buy up company stock shares for 6 months
3. Publically announce said crypto agenda, even it is complete vaporware
4. Watch shares of stock get pumped jump 400-500% overnight
5. Profit !

And rename company to Kodak Blockchain, of course.

[Voodah]

We're going back to 15k today, I can feel it!

I feel fairly certain that the group that has been shorting since $17k is the same group that started pumping the market on 1/2. They've been building a sizable short position ever since. Alts are going to get rekt soon.

I would normally tend to agree with this, as it is very much like what happened back in 2014. I remember some of the alts doing noise back then like PPC and Feathercoin and Quark. Go check those charts in CoinMarketCap now. They are not happy charts.

This time tho, a couple things are and feel different.

For one, cycles are shorter, mainstream hype is bigger and it seems even if there was a hard 80-90% haircut, it wouldn't last as long this time.

There's also the fees issue; and without getting political about it and whichever side you stand on, one must realize it does affect usage (https://bitinfocharts.com/comparison/sentbyaddress-transactionfees-btc.html#6m).

And then there's that new kind of dumb "investor", which, if you haven't been locked up in your house for the last month you've surely seen: the "omg this 0.10$ shitcoin is so cheap I'm buying".

And yes, the market cap is elastic and can as easily go back up as it did earlier this year; but if you look at the charts, they also look different from that time in that the wealth has been distributed more horizontally and all across the board (https://coinmarketcap.com/charts/#dominance-percentage, check the 'Others' grey line). It's not just shitpple or eth and the darn flippening. It will be at least marginally harder to swoop all that value back in.

And lastly, many of the teams and projects in this new wave are very different in nature to the ones from back then. Whereas we used to have early-adopters, solo-devs and crypto insiders teaming up in small teams creating the projects in a more grassroots way; it is now much more akin to the startup world, with most of the (relatively serious) projects already VC backed even before the "pre-sale". Funding + pre-sale + ICO. It's kinda nasty and a recipe for disaster, we all know it; but at the same time it also means the serious ones are not going anywwhere, they have runway money in the bank to keep going for at least a year or two.

I'm still open and even expecting a hard hard correction, but I think it's possible we will see a continuation of this trend all throughout the year. Money pouring in horizontally.

It's also odd in that for the first time (and only when I'm down) I could just barely possibly see a future where BTC does not go to the famous 1M. Not because crypto were unsuccesful, but rather the opposite, too much success, too much money wanting the join, too much FOMO.