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

[birr]

New chart from klee in the PnF thread

also, masterluc says (google translate)

As that sucks everything went. The scenario I proposed is on the verge of failure. To continue it, the price should immediately turn around. Or to turn sharply around $ 6000.

As we are:
- Under the daily sma200 (punching down)
- Under the weekly sma20
- Under daily sma20
- Under the long-term trend (punching down)

The most sad first and last fact.

This means that when the daily smash of 200 is broken down, the medium-term picture breaks down. And the next support is on the lower historical trend - $ 3000.

A bullish long-term picture breaks when it breaks down $ 3,000.

[infofront]

So it is basically not worth it, ok. But... is that something that happens every once in a while? I am trying to extrapolate what happened past times when a similar point of unprofitability was reached.

Ie: If the price started recovering soon or if the hashrate just kept going down until profitability.

I've been mining since 2011. During these downturns, you can make money speculative mining.

For instance, bitcoin GPU mining became unprofitable in early 2012 around the time it hit $2. However, you could've mined quite a bit of coins from a new upstart called Litecoin. You would've been mining at loss at the time.

There was the great altcoin boom of 2013-2014, which was very lucrative for mining. After that market took a shit, the only things that were marginally profitable to mine were Monero and DASH. Mining either one of those would've made you a lot of money.

So, here we are in another downturn. I'm not sure what the next LTC, XMR, or DASH is, but it's out there.

Interesting. But as you say many of the times it was just "barely profitable" at the time of mining, no matter if it pumped hard some time later (you could have just bought the coins instead)... Not that I can extrapolate anything I guess

Just buying the coins to begin with is almost always more profitable, as long as you exit during a nice pump. I look at mining as more of a hobby.

[BitcoinBunny]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

[Raja_MBZ]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

[Rsiyz]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

best comment..

[Rsiyz]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

NO there is no word about "term"  or nex time you will say : they believe in super-looong term  ... 

[mike4001]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

Not completely true.

Most of them said that we will never see 4 digits again.

Well ... here we are.

[Raja_MBZ]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

Not completely true.

Most of them said that we will never see 4 digits again.

Well ... here we are.

Well I'm sorry but among all of those predictions, I'm only aware of Mcafee's 1 million dollar prediction by 2020, and I completely still believe in it.

[Rsiyz]

https://www.youtube.com/channel/UCXpkSlxIY73Wr6jbCb2eKLA    yes here is new bitcoin "adopters"
and in cali too..http://

[gbianchi]

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

Will McAfee Eat His Own Dick ?

https://diegorod.github.io/WillMcAfeeEatHisOwnDick/

[fragout]

G20 tomorrow and tuesday. I wonder how much or how little it will affect the price?

"A media representative for next week's summit, to be hosted by Argentina, which currently holds the G20 presidency, said that the first meeting will take place Monday. The talks will feature Argentina Treasury Minister Nicolás Dujovne and Organisation for Economic Co-operation and Development (OECD) Secretary-General José Angel Gurría, among other stakeholders.

A second discussion will happen on Tuesday, the rep told CoinDesk.

The agenda and talking points for the two discussions have not been released. However, a public document indicates that the discussions will revolve around the implications of cryptocurrencies and the potential applications of its underlying technology.

"The issue is an important item on the meeting agenda; delegates will consider a common response that would mitigate the risks without discouraging innovation," it argues.

[BitcoinBunny]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

My long term prediction I made August 2017 simply based on doubling each year:
2018 2000
2019 4000
2020 8000
2021 16000
2022 32000
2023 64000
2024 128000
2025 256000

I have nothing against Masterluc, Cliff High, Tone Vays, McAfee saying it will moon sometime in several years 5-10 or whatever (most of us here do otherwise we wouldn't invest our money and time) but a lot of their technical babble in the mean time has been proven wrong hence my comment.

[El duderino_]

also, masterluc says...blah blah

Why do people still listen to those who made crazy predictions in the past and were all wrong?
None of them predicted the pull back from 20K to 7-8K did they?

Masterluc, Cliff High, Tone Vays, McAfee.

 

They believe in "long-term", not in short-term like you.

NO there is no word about "term"  or nex time you will say : they believe in super-looong term  ... 

Traders Will Just allways running few steps behind and they Just don’t see the whole picture , Just let them in there Own world Where they look for the master predicter that doesn’t exist and Try to make all the trades on TA analys of 100 diffrent masters etc...... for making quick buck’s but long term losses and ending up with less btc’s

for the rest of us Just hodl and buy the dips When possible :-)

[UnDerDoG81]

Lol I thought ether will be the new bitcoin?

[RayX12]

ICO panic is setting in.  Icos cashing out their ETH.  
SEC is shaken the ICOs from the tree.



Who is harvesting apples?? 

[Majormax]

The markets are getting worse and worse as the days are getting worse. We can say that Etherum is experiencing a much more radical decline. But most importantly, how will the Altcoins recover after this hour.

Most (nearly all) altcoins will not recover.  The ecosystem cannot sustain them.

The market is in a bear phase, and will be for the rest of 2018 at least.

But you know don't you, that if I was ever to sell a big portion of my bitcoin, the market would take an amazing turn upwards and go to new all-time-highs, and I would never want to buy back in.  It's the rule of perfectly bad market timing.  And I would be able to brag that I sold at the exact bottom.  That is why I will hold regardless of where the price goes.

Yes, no doubt correct. ... and you are not ready to sell yet, but would be more ready at say $2500.

The key thing now (and it will prove impossible for most people) is to accept that whatever you hold will decline in $ price by another 75% (making 90% decline in total), and that will take place in a grinding downwards pattern, including long counter-trend rallies, spread over ~2 years.

Too difficult for most ppl to accept. Best course is to go away and do something else for a while.

[gentlemand]

Most of them said that we will never see 4 digits again.

I don't recall any of the regulars saying that. Anyone who did is a delusional toad.

20 grand was the clear peak of the bubble. For a bubble pop to halt before the 50% loss mark would make it... not a bubble.

Yes, no doubt correct. ... and you are not ready to sell yet, but would be more ready at say $2500.

The key thing now (and it will prove impossible for most people) is to accept that whatever you hold will decline in $ price by another 75% (making 90% decline in total), and that will take place in a grinding downwards pattern, including long counter-trend rallies, spread over ~2 years.

Too difficult for most ppl to accept. Best course is to go away and do something else for a while.

I didnae realise it was all that certain and 100% locked in. Now I do I'll take it to the bank and cash it.

[Raja_MBZ]

Lol I thought ether will be the new bitcoin?

Don't worry, Ether is going to be the new BitcoinZ.

Bitcoin dominance now 45.2%.

...and futures looking awful.

[babanana]

The markets are getting worse and worse as the days are getting worse. We can say that Etherum is experiencing a much more radical decline. But most importantly, how will the Altcoins recover after this hour.

Most (nearly all) altcoins will not recover.  The ecosystem cannot sustain them.

The market is in a bear phase, and will be for the rest of 2018 at least.

But you know don't you, that if I was ever to sell a big portion of my bitcoin, the market would take an amazing turn upwards and go to new all-time-highs, and I would never want to buy back in.  It's the rule of perfectly bad market timing.  And I would be able to brag that I sold at the exact bottom.  That is why I will hold regardless of where the price goes.

Yes, no doubt correct. ... and you are not ready to sell yet, but would be more ready at say $2500.

The key thing now (and it will prove impossible for most people) is to accept that whatever you hold will decline in $ price by another 75% (making 90% decline in total), and that will take place in a grinding downwards pattern, including long counter-trend rallies, spread over ~2 years.

Too difficult for most ppl to accept. Best course is to go away and do something else for a while.

I have made money from the last bull run and withdrawn it into my bank to not care about this drop. One thing I am certain, I will buy back when the market is favorable. I have small orders already filled but big ones waiting at the very bottom. Dont be scared. Bitcoin from the very start is like this. We've seen worse. It will recover.

[fabiorem]

Will McAfee Eat His Own Dick ?

https://diegorod.github.io/WillMcAfeeEatHisOwnDick/

This one you posted is not going to the end of 2020 (as McAfee said) but to July 17th 2020.

This one here: https://fnordprefekt.de/ go to the end of 2020.