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

[Ibian]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

But some people want it to be too damn fucking quick and easy. They should know better.

Sure. It's still both.

I went from being on welfare to being financially independent in 4 years. That's quick fucking money. And I had to sit through a brutal multi-year bear market at a loss for most of it, imagine the people who bought at the bottom.

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[RoomBot]

WE GOT THIS!!!

[explorer]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

Timing only.

Actually, when properly applied, it is also a get poor quick mechanism...

[bitserve]

I have a friend who’s a multi millionaire.  Double digits.  He got burned on LTC by buying it above $300 when stupid TV was pumping it

If your friend keeps investing like this he won't be a millionaire for long. How could he buy LTC at $300 seeing that it was $4 one year before?
I would not buy even a Van Gogh after an 80X price rise in one year, or even a bitcoin.

People getting investing advice from the TV will get REKT on any market, and they better stay out of crypto, both for themselves and the already scarce sanity of this market. We already have enough pump chasers.

Some people got their fortune by inheritance and/or luck. Others know about their field and that made them rich, but donno about others. Many lost their fortune even faster than they gained it... usually due to big mistakes they made when they stepped out of their comfort/expertise zone.

This guy is not completely stupid. He has realized crypto is not for HIM. And maybe he is completely right.

[Ibian]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

Timing only.

Actually, when properly applied, it is also a get poor quick mechanism...

Only if you have old man shaky hands.

That's actually one of the more interesting aspects of the people who have been here for a while. Our normal is normal to us, but most people can't do what some of us have done. How fucking huge is the mental gap between people?

[User705]

I have a friend who’s a multi millionaire.  Double digits.  He got burned on LTC by buying it above $300 when stupid TV was pumping it

If your friend keeps investing like this he won't be a millionaire for long. How could he buy LTC at $300 seeing that it was $4 one year before?
I would not buy even a Van Gogh after an 80X price rise in one year, or even a bitcoin.

People getting investing advice from the TV will get REKT on any market, and they better stay out of crypto, both for themselves and the already scarce sanity of this market. We already have enough pump chasers.

He’s  a multi millionaire and will continue to be so because he builds successful businesses but the point was for him bitcoin was just like any other investment.  So he thought he was smart and listened to the “investment talking heads” on Bloomberg.  Yes it sucks for him but he wasn’t stupid and bought too much or mortgaged his house for it but the point I was trying to make is that this segment of the population might not be coming back to Bitcoin right now.  I’ll keep pinging him and eventually the lightbulb will go off but it won’t be tomorrow or in a month.  Again totally anecdotal evidence.  Don’t use this to trade.  LOL

[bones261]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

It's not about the price per se, but the bounce.

Why isn't it a dead cat bounce? Who's to say it won't go to 5.5k next? I don't think it will, but everyone else seems to think 5 digits is coming soon.

The bounce happened on rather high volume. This would indicate at around 7.6K, there is a great deal of support(lots of people want to buy at this price.) However, many suspect that this market is highly manipulated. I personally think applying technical analysis to these charts is equivalent to predicting the future with a horoscope chart. Just my opinion, though.

[Last of the V8s]

https://modernconsensus.com/2018/02/02/circle-set-acquire-poloniex/
By Ken Kurson, February 2, 2018
Ken Kurson, founder of Modern Consensus, is on the board of directors of Ripple.

[Enjel]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

It's not about the price per se, but the bounce.

Why isn't it a dead cat bounce? Who's to say it won't go to 5.5k next? I don't think it will, but everyone else seems to think 5 digits is coming soon.

The bounce happened on rather high volume. This would indicate at around 7.6K, there is a great deal of support(lots of people want to buy at this price.) However, many suspect that this market is highly manipulated. I personally think applying technical analysis to these charts is equivalent to predicting the future with a horoscope chart. Just my opinion, though.

Some people seem to be able to predict pretty well... presumably just using TA. But thanks. High volume bounce I guess is healthy.

[ragnar0k]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

Oh man I didnt come to this forum for a while to avoid reading TERA bs while we were going down, but I come back once and I see TERA now is compared to masterluc. I feel pain! /ragequit

[Enjel]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

Oh man I didnt come to this forum for a while to avoid reading TERA bs while we were going down, but I come back once and I see TERA now is compared to masterluc. I feel pain! /ragequit

I have to give credit where due. I said TERA2 was totally wrong a month ago on the prediction to 8k (claim is still the same - bounce to 13k), but it turned out that it just took longer to happen.

The thing is that even masterluc wasn't quite spot-on in this.

[explorer]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

Timing only.

Actually, when properly applied, it is also a get poor quick mechanism...

Only if you have old man shaky hands.

That's actually one of the more interesting aspects of the people who have been here for a while. Our normal is normal to us, but most people can't do what some of us have done. How fucking huge is the mental gap between people?

What?  5 years of Ramen noodles and an $800 car while HODLing (then:potential) millions in crypto?  No sweat.  The will to hold out for billions is what is in play.  Do we need it?  Do we even really want it?  Even strong hands eventually say fuck it.  If one is already well fixed, maybe its easier. I wouldn't know    These old hands have some shake, no denying.  But the grip is as strong as ever, make no mistake. 
   Creating dynastic wealth is probably no help to your descendants, as they will typically dissipate any fortune within 2-3 generations, and be dumber and less happy for it.  So, what is enough to do what YOU want to do, with enough left over to give the next gen a leg up, but not lock them into a life of useless squandering?  What is HODLing worth, in the end? First world problems abound!

[bitserve]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

It's not about the price per se, but the bounce.

Why isn't it a dead cat bounce? Who's to say it won't go to 5.5k next? I don't think it will, but everyone else seems to think 5 digits is coming soon.

The bounce happened on rather high volume. This would indicate at around 7.6K, there is a great deal of support(lots of people want to buy at this price.) However, many suspect that this market is highly manipulated. I personally think applying technical analysis to these charts is equivalent to predicting the future with a horoscope chart. Just my opinion, though.

Some people seem to be able to predict pretty well... presumably just using TA. But thanks. High volume bounce I guess is healthy.

That's it. It's the first solid bounce we have had after this continuous bleeding and it has bounce at exactly the right price point. Perfect timing. Dead cat bounce? Manipulation? We can never know for sure... but it just looks way better than yesterday even if we are at the same price point.

[EtherCoin]

Has anyone else gone through an obscene amount of alcohol in the last seven days or is it just me?

I've actually been on the wagon.

I am not at all sure that is better 

Got a totally decent Imperial Stout lined up for this evening. One nice thing about the last year in crypto is not drinking more, but drinking better.

And I thought you were the healthiest of us...

Eth.

[the artful bodger]

People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

It's both.

But some people want it to be too damn fucking quick and easy. They should know better.

Sure. It's still both.

I went from being on welfare to being financially independent in 4 years. That's quick fucking money. And I had to sit through a brutal multi-year bear market at a loss for most of it, imagine the people who bought at the bottom.

How did you get enough coins to do that if you were on welfare? Most people on welfare can barely afford to eat and cloth themselves, let alone buy stacks of coins.

[HairyMaclairy]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

It's not about the price per se, but the bounce.

Why isn't it a dead cat bounce? Who's to say it won't go to 5.5k next? I don't think it will, but everyone else seems to think 5 digits is coming soon.

I’m not optimistic in the short term. The whipsaw from 7.6 should be expected to be on high volume but it didn’t get very high despite an empty order book.  Volume right now is weak.  Next plunge will likely go below 7.6k.

[User705]

So here's the thing.. I remember not a day ago, prices were this low, and everyone was panicking about it in the forums.

So why is it that when we bounce from 7.6k up to here, everyone seems optimistic now? Masterluc seems absolutely certain that we'll just bounce up. TERA2 has stated that we will bounce to 13k too, but the difference between them is that one thinks it's 2013, the other 2014.

Is it that obvious that we're just going to go straight back up? Nothing to be too excited about if prices stay in 4-digits for the next few months, for instance.

It's not about the price per se, but the bounce.

Why isn't it a dead cat bounce? Who's to say it won't go to 5.5k next? I don't think it will, but everyone else seems to think 5 digits is coming soon.

The bounce happened on rather high volume. This would indicate at around 7.6K, there is a great deal of support(lots of people want to buy at this price.) However, many suspect that this market is highly manipulated. I personally think applying technical analysis to these charts is equivalent to predicting the future with a horoscope chart. Just my opinion, though.

GDAX volume was pretty regular.  Kraken wasn’t that crazy either.  Of course my $7500 didn’t fill by a hair.  

[HairyMaclairy]

Prediction:  

We will go to $7.4k within eight hours from now and then whipsaw back to over $8k.

[bones261]

Prediction:  

We will go to $7.4k within eight hours from now and then whipsaw back to over $8k.

OK, I'll set up a few more bids then. Got to get back some more of those satoshis that I panic dumped, yesterday, when tired and grumpy. 

[EtherCoin]

I have a friend who’s a multi millionaire.  Double digits.  He got burned on LTC by buying it above $300 when stupid TV was pumping it

If your friend keeps investing like this he won't be a millionaire for long. How could he buy LTC at $300 seeing that it was $4 one year before?
I would not buy even a Van Gogh after an 80X price rise in one year, or even a bitcoin.

People getting investing advice from the TV will get REKT on any market, and they better stay out of crypto, both for themselves and the already scarce sanity of this market. We already have enough pump chasers.

He’s  a multi millionaire and will continue to be so because he builds successful businesses but the point was for him bitcoin was just like any other investment.  So he thought he was smart and listened to the “investment talking heads” on Bloomberg.  Yes it sucks for him but he wasn’t stupid and bought too much or mortgaged his house for it but the point I was trying to make is that this segment of the population might not be coming back to Bitcoin right now.  I’ll keep pinging him and eventually the lightbulb will go off but it won’t be tomorrow or in a month.  Again totally anecdotal evidence.  Don’t use this to trade.  LOL

One can't help but wonder how "builds successful businesses" and listening to "investment talking head on Bloomberg" about crypto can mix in the same phrase.

Eth.