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

[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.

[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?

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!

I don't intend to leave anything behind. Only people able to make money are fit to inherit it. It may still happen, mind, but I don't actively plan on it.

No, my bitcoin money is going to a (at this point purely hypothetical) family, if I can find a girl worth sticking with. That may (probably will) involve moving to some other part of the planet, which will require... money. Once settled, we will have as many kids as I can reasonably afford to pay for. That's the why of making money. So you can have kids, and still live as you want instead of being for all practical purposes a slave.

[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.

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.

By being a literal genius, and with some help from the family.

[Neo_Coin]

[Enjel]

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.

By being a literal genius, and with some help from the family.

That is impressive! It sure beats getting a minwage job and working as a slave, getting nowhere financially.

[conspirosphere.tk]

Prediction:  

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

A retest would inspire confidence that the bottom is in, if it holds.
Then we're ready for another round.

[HairyMaclairy]

Prediction:  

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

A retest would inspire confidence that the bottom is in, if it holds.
Then we're ready for another round.

I’m predicting a penetration of the bottom, but only by a few hundred dollars, which will keep everyone guessing.

It will be a good test of how my analysis model stacks up.  If we just go up over the next 8 hours then I need to re-evaluate my interpretation of the data.  All figures refer to Bitstamp price.

[bones261]

I wonder if it is good news that Finex/Tether has not printed any Tethers since the 23rd of January.

[jojo69]

It’s also retarded that you can gamble on credit cards. It’s not your money.

It's not your not-money.

my only merit...sir

[toknormal]

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.

Aaghhh !

Full mandatory verification incoming. Holdings stuck on exchange forever now.

[jojo69]

Biggest Dow drop in years today. But Crypto is dead.

god DAMMIT!

out of merits

[JayJuanGee]

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

Probably just you....


hahahahaha


I'm just kidding.   

Even when I feel quite calm cool and collected (with a decent plan to advantage from this seemingly extreme downwards volatility), the situation can still be stressful - because us BTC watchers can never really be sure what price point is going to hold, exactly and when the downward momentum is going to end, exactly. 

This reversal in the past 10 hours at $7,625 does seem to have been based on a decent amount of dump spike volume that would be relatively convincing that the bears should have blown their wadds - but gosh.. we can never be certain until perhaps being more certain after we bounce back above a certain price point, perhaps that price point is above $12k-ish, currently?

It feels like just traders are left.  Tether/Bitfinex still unresolved.  Bitconnect might not have been a lot of money relative to bitcoin but it was a lot of people who are derping on YouTube and everywhere else “fuck all crypto”.  ICOs are either getting sued or getting C&D by Texas.  Anecdotal evidence points to 20k being top for a while.  People in this thread retiring by selling above 10k likely means they won’t buy back at above 10k so that segment is gone.  The regular people are gone.  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 with “three simple reasons why it’s better then bitcoin” and last time I tried throwing him some signals like set your bitcoin buys at mid 8s, mid 7s and his response was “fuck this, I ain’t dropping another penny on this shit”.   He got burned by the stock market a while back and to him this is just another market.   Nothing special or different.  Of course I could be wrong and who knows maybe hedge funds will buy to manipulate the futures market.  People don’t understand bitcoin is a savings mechanism not a fucken get rich quick mechanism.

You touch upon several decent news talking points, yet there remains a lot going on in bitcoin, which seems to suggest that this latest price correction to merely have been within the realms of a normal pullback, after a bit of too much exuberance.  

I think that the time range for recovery and hitting upon ATHs again is most likely in the 3 month to 18 month arena.  There are just too many good developments in bitcoin, and even this current price correction has not drug us into a bear market, yet.  Surely, I doubt you are even implying a bear market, yet, but if anyone wants to argue or suggest that we are now in a bear market, I assert that any such bear market assertion remains premature

I would say that if we go below $5k and stay there for any kind of meaningful time period then at that time we can start to talk about a bear market.  Otherwise, the bull market remains.  Of course if we dabble in the $5k to $7,500 territory for some kind of meaningful time, also, then at least a bear market discussion becomes more within the park of reasonable contemplation.  

Your example of Bulls retiring above $10k probably does not seem a representational phenomenon.  Accordingly, some bulls may have cashed out some coins above $10k, but with the passage of time, even these bulls may buy back above $10k, especially if they are buying in the context of a dip... so with the passage of time, lots of things can happen.... the price goes up, the price goes down.  

Regarding folks who bought in above $12k or even above $15k, they are not losers unless they cashed out lower than they bought, and there remain a variety of possible plans that can allow these above $12k buyers to bring down their average price per BTC or just ride out the market by HODLing.

[smartcomet]

Hodl as long as you can. Spend only when you must.

[fabiorem]

Seems we stopped at 8k.

There was a period where the price consolidated on that level, in november if Im not mistaken. It stayed one week on there.

It was assumed that money coming after 8k was mostly institutional, coming from Wall Street.

[the artful bodger]

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.

Aaghhh !

Full mandatory verification incoming. Holdings stuck on exchange forever now.

Are you sure that's legit? That site was anonymously registered less than two months ago on 15 December, and I can't find any other news sites running that story.

https://www.whois.com/whois/modernconsensus.com

Registration Date:2017-12-15

[Torque]

Biggest Dow drop in years today. But Crypto is dead.

https://twitter.com/StephenKing/status/959565970644889601

Lol

[fabiorem]

I wonder if it is good news that Finex/Tether has not printed any Tethers since the 23rd of January.

They need to buy real dollars to show to the coming audit. Only when they have the truck loaded and the audit done that they will print more.

I hope they print 10x more, just to watch r0ach post a dozen of walltexts about ponzi schemes, silver, jews, women, etc.

[CaptDero]

What's the logic behind both crypto and stocks going down together ?
Do same set of people invested or influence the both or just natural ?