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

[El duderino_]

every man has his price

Don’t tell me that you allready have a price on BTC ....?

[wayna]

This has been the first steady increase of the price and I expected a dip, but now I'm really interested to see whether is just a correction towards a new bull run or prices will go consistently go down.

[Last of the V8s]

every man has his price

[06:44:42] · <mircea_popescu> anyway, bitcoin's natural value is somewhere in between 150% and 300% or so of the M3. so yes, i see bitcoin price exceeding the aggregate cash value of most countries.
[06:45:27] · <mircea_popescu> 2.5 haitis to the btc sorta thing.

[RoomBot]

Lol at the bitcoin poll price results. It seems like people are wanting a huge pump in a short span of time. But surely these people are also the ones scared first of a major correction which is actually normal when a huge increase is inorganic.

Lots of hopeful WO ATH Contest players.

@mcgoossens keeps us #bullish  

[RoomBot]

I never understood why there is resistance? I dont get it, can somebody explain? 10k will break. Why are people building walls to hold it sub 10k as long as possible?

I never understood this too why people are selling during a bull run.

But the thing is

1) There are people who set a goal. "I bought at XX and will sell everything when it reaches 10.000"
2) Their are traders who sell and hope to crash the price by a few % and then buy back so they ultimately have more BTC
3) Wales make up sell walls (the 200 / 300 / 400 BTC walls you see) to keep the price below a certain level so they can buy all their BTC below a certain price. Once they are done they mostly lift their sell wall.

There are probably more reasons :-)

Don't blame Wales.  

[Last of the V8s]

I never understood why there is resistance? I dont get it, can somebody explain? 10k will break. Why are people building walls to hold it sub 10k as long as possible?

I never understood this too why people are selling during a bull run.

But the thing is

1) There are people who set a goal. "I bought at XX and will sell everything when it reaches 10.000"
2) Their are traders who sell and hope to crash the price by a few % and then buy back so they ultimately have more BTC
3) Wales make up sell walls (the 200 / 300 / 400 BTC walls you see) to keep the price below a certain level so they can buy all their BTC below a certain price. Once they are done they mostly lift their sell wall.

There are probably more reasons :-)

Don't blame Wales.  

Yeah bhouy, Wales is Offa limits.

[Last of the V8s]

'Sell into green' is a popular trader slogan in the rest of the world. These people aren't viewing this as a real bull run. They are viewing it as another dead glade bounce, perhaps the last one before the descent to new lows, and the last chance to sell. Perhaps they bought around 10K and swore they would sell around here. They will settle for 10K to sell their boatloads of coins and would rather not try to wait for the final top. The turn around from the top is likely to be violent and they may miss it, after which there may not be enough liquidity to sell large amounts of coins on the way down. 

flail around much?
lol this is a bear trap, nothing more

[TERA2]

I am explaining the logic of the sellers at 10K. It applies regardless of whatever you think about me or future price movements. Changing the subject to something irrelevant like that to or the participant of a conversation is a sign of ignorance.

[Elwar]

The huge buy walls I see on the buy side on 'finex tells me it is whales screwing with things.

[mindrust]

'Sell into green' is a popular trader slogan in the rest of the world. These people aren't viewing this as a real bull run. They are viewing it as another dead glade bounce, perhaps the last one before the descent to new lows, and the last chance to sell. Perhaps they bought around 10K and swore they would sell around here. They will settle for 10K to sell their boatloads of coins and would rather not try to wait for the final top. The turn around from the top is likely to be violent and they may miss it, after which there may not be enough liquidity to sell large amounts of coins on the way down. 

flail around much?
lol this is a bear trap, nothing more

[Last of the V8s]

I am explaining the logic of the sellers at 10K. It applies regardless of whatever you think about me or future price movements. Changing the subject to something irrelevant like that to or the participant of a conversation is a sign of ignorance.

I don't think about you.
You changed the subject from mike's notbad explanations, to an illogical, therefore irrelevant beartard theory that there are people left with boatloads of coins who bought at 10K.
Expect more ignorant digs if you spin more obfuscatory theories.

[TERA2]

If anyone ever wants to know why I sound cynical then this is why. God it's going to be so fun to quote all those arrogant posts if new lows come.

[Last of the V8s]

wtf? we need a new low

[bones261]

I see that the bot that I am tinkering with, which is basically set to BTFD and then scalp if there is a rebound, has been busy for the past few hours buying. Hope that I am not catching a falling knife.

wtf? we need a new low

Yes, I will be more than willing to make someone two pizzas for 10000 BTC. Or did people actually make OTC trades in the earlier days for an even lower price?

[Last of the V8s]

I see that the bot that I am tinkering with, which is basically set to BTFD and then scalp if there is a rebound, has been busy for the past few hours buying. Hope that I am not catching a falling knife.

wtf? we need a new low

Yes, I will be more than willing to make someone a pizza for 10000 BTC. Or did people actually make OTC trades in the earlier days for an even lower price?

not that is known about.
i meant like wick down to 5800 and shoot back up

[bones261]

I see that the bot that I am tinkering with, which is basically set to BTFD and then scalp if there is a rebound, has been busy for the past few hours buying. Hope that I am not catching a falling knife.

wtf? we need a new low

Yes, I will be more than willing to make someone a pizza for 10000 BTC. Or did people actually make OTC trades in the earlier days for an even lower price?

not that is known about.
i meant like wick down to 5800 and shoot back up

I remember a year ago when people would tout 5000 USD, I thought that they were fantasizing. Now 5800 is like a bear's wet dream.  

[Karartma1]

If this is the weekend stop I hope we do not lose the 9K Vegeta limit. We got a bit too enthusiastic yesterday and we must face the wall reality now. But those are not the problems of holders, right.
Up Bitcoin, UP

[xhomerx10]

Isn't it too soon to be posting this? I see the meme and instantly go to cryptowat.ch and only find disappointment. It's almost as bad as someone giving me a blowjob a stopping abruptly moments before the orgasm.
Sorry, we are still stuck with Vegeta.

 Oopsie!

[TERA2]

[greensheep]