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

[LewisPirenne]

Due to the fact that the selloff started from Chinese related OKEX and Bitfinex and the timing coincide with a certain news coming out on Sina, I think it's that Reuter FUD from PBoC Vice Governor.  Those interested can read it up.  But it fits the general trend (and rumors since the end of last year) that noose is being tightened on crypto again in China.  All those OTC trade after the exchange ban, capital flight to exchanges across the border in HK, and BTC mining now screwing up electricity consumption data in China, means that Chicom is interested in doing something about it.  

I honestly would not worry so much about China or even South Korea, but rather a coordinated G20 action as hinted by Mnuchin and Bundesbank member.  The actual G20 summit is later this year, but they can always come up with some sort of joint communique thru scheduled events or workgroups.  So our fellow brethens who favors on-chain scaling need  to try harder with their "we are only trying to disrupt payment space and provide banking to the unbanked poor" meme.  The banksters and govt never bought that argument in the first place, now they are outright calling Bitcoin for what it is, i.e. the good ole numbered Swiss account, with your personal SWIFT terminal attached, before Swiss sold their soul and bank secrecy law to USG in 2009.

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[Neo_Coin]

Can someone explain bitcoin for sake Why are we going down?

[Higher Altitude]

So much hope still on the forum - does this mean we go down much more, till there is despair?


What gives me hope is the huge influx of newbs coming to the exchanges in the last 2 months (some exchanges are still closed because being overwhelmed by signups?)
I think this will not prevent any fall, but makes for a good rebound after good news + price starting to rise again happens (Question if in days / weeks or months)

It's not hope. It's knowing that circumstances don't matter, only state of being matters. This attitude is unconquerable.

[Elix9]

what

[HairyMaclairy]

This isn’t our first rodeo.  

[Asrael999]

Coindesk carrying a story from Reuters re another Chinese ban, annual Chinese fud

[JayJuanGee]

glad you're up Jay

These days, my BTC buy orders are largely automatic, anyhow.

But I do prefer to reset my BTC sell orders within a reasonably soon timeframe after my buy orders are filled (same is true when BTC price action is in the opposite direction, then BTC buy orders are set reasonably soon after the sell orders fill).

Also, in the past month or so, the activity level of my resetting BTC orders has become quite a bit more relaxed too, except for during considerable BTC price moving times like these.... but anyhow, it sure is much more relaxing and a lot less urgent to be working with $1k-ish BTC price increments, rather than smaller increments.  

Do you mind disclosing what are your current BTC buy/sell price increments, jojo, approximately?  Or, anyone else interested in this topic?  

By the way, @ jbreher, to the extent that you were really employing $250 price increments in recent times, I hope that you have either stepped those back a bit on those increments (to make more large) or are otherwise keeping up with them.  I would feel stressed to a fucking much higher level, if I were to have been employing $250 price increments in the past day or so and during other times like these.

[JayJuanGee]

Well this is shit.

rjclarke:   You cannot truly be surprised, can you?

This remains within the bounds of a pretty much a normal correction cycle in BTClandia (including accounting for some of the larger cryptolandia dynamics), no?

Sure, we never know for sure, but so far, what is happening is not really outside of the bounds of largely reasonable expectations*, right?

*within 30% to 50% bounds (I just threw in percentages to attempt to help with our connection-ness  -  )

[Ibian]

Do you mind disclosing what are your current BTC buy/sell price increments, jojo, approximately?  Or, anyone else interested in this topic?

Well I WAS selling 10% of my holdings with every doubling, but with clonecash suddenly and unexpectedly giving me enough fiat to last a few years, I'd much rather just wait for higher prices and sell a bit as and when I eventually need it. Hoping for a drop to about 10k to buy back my most recent sales, actually.

[JayJuanGee]

Do you mind disclosing what are your current BTC buy/sell price increments, jojo, approximately?  Or, anyone else interested in this topic?

Well I WAS selling 10% of my holdings with every doubling, but with clonecash suddenly and unexpectedly giving me enough fiat to last a few years, I'd much rather just wait for higher prices and sell a bit as and when I eventually need it. Hoping for a drop to about 10k to buy back my most recent sales, actually.

You are playing with really BIG increments, Ibian, which is definitely fair enough.  


As long as bitcoin prices continue to go up (which I expect that they are going to keep on going up, once we get through this rough period.. hahahahaha), I might evolve into much BIGGER increments, but I have gotten so used to my system, that I am NOT too likely to evolve my increments to such a GREAT level as to play "doubling" increments..   


Doubling seems to be too hands off for my anticipated ongoing interest levels in bitcoin and/or possibly other crypto in the future, but surely, considering doubling is not out of the question regarding a possible future status (of not trading so much).     Accordingly, I can imagine that it can be kind of nice to not be chasing orders.

[PoolMinor]

Coindesk carrying a story from Reuters re another Chinese ban, annual Chinese fud

Looks like my ATH guess for 4 of February not going to happen....

February 4 2018

Because my chart tells me it is just before Chinese New Year annual ban.

[Heater]

Poor old Dentacoin is having a bad day - down 45% so far and still falling.

[HairyMaclairy]

I love it.  Tether is the only coin in the top 100 in the green.

[Neo_Coin]

I love it.  Tether is the only coin in the top 100 in the green.

Decision Token +5,6%  
https://coinmarketcap.com/currencies/decision-token/

[HairyMaclairy]

I love it.  Tether is the only coin in the top 100 in the green.

Decision Token +5,6%  
https://coinmarketcap.com/currencies/decision-token/

Rank 159 !  Doesn’t count ! 

[pawel7777]

I love it.  Tether is the only coin in the top 100 in the green.

Not anymore. Currently -0.41% as per CMC. All top 100 in red. What a time to be alive

[Phil_S]

From ATH on Dec 17 to this on Jan 16... what a month.

[HairyMaclairy]

Goddamnit where’s Tera to tell us we are all going to $3k. And that $3k is generous. 

[Ibian]

Do you mind disclosing what are your current BTC buy/sell price increments, jojo, approximately?  Or, anyone else interested in this topic?

Well I WAS selling 10% of my holdings with every doubling, but with clonecash suddenly and unexpectedly giving me enough fiat to last a few years, I'd much rather just wait for higher prices and sell a bit as and when I eventually need it. Hoping for a drop to about 10k to buy back my most recent sales, actually.

You are playing with really BIG increments, Ibian, which is definitely fair enough.  


As long as bitcoin prices continue to go up (which I expect that they are going to keep on going up, once we get through this rough period.. hahahahaha), I might evolve into much BIGGER increments, but I have gotten so used to my system, that I am NOT too likely to evolve my increments to such a GREAT level as to play "doubling" increments..   


Doubling seems to be too hands off for my anticipated ongoing interest levels in bitcoin and/or possibly other crypto in the future, but surely, considering doubling is not out of the question regarding a possible future status (of not trading so much).     Accordingly, I can imagine that it can be kind of nice to not be chasing orders.

I actually have a different setup now. I make a bit on the side by buying and selling for people, taking a percentage with each trade. I keep the profits in fiat, that way I don't have to touch my stash. And then on the occasions where the price dips below a previous month, I spend the fiat for that month on bitcoin. Which I just did. Just made something like 20% over what I would have gotten for buying bitcoin straight up through december.

It's not much, but it's safe and steady growth. I accumulate money over time rather than spend it like everyone else. Good position to be in.

[Torque]

I think it's Chinese holders selling. The Chinese gov is going to block access to exchanges like bitfinix, bittrex etc., so chinese people have no option but to sell.

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

And what perfectly timed FUD!

Uncanny that the news article and subsequent dump managed to touch the 30 MA day cross down on the 3d chart! What amazing coincidence. /s