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

[Totscha]

Good morning Bitcoinland.

I see we had a bit of a dip, all the way down to where we were over a week ago...$6393USD/$8390CAD (Bitcoinaverage).

Why does this always seem (lately) to happen when I'm short on cash to buy more coins?

I can't bitch though. It's only money and I'm not impoverished quite yet.

maybe it doesn't go down to 3xxx levels after all

That 3xxx nonsense is just wishful thinking by people who missed the boat (or panic sold at the bottom) and desperately want the price to go down.

That 3xxx nonsense is something that you just can't dismiss outright. Sure we all want the price to go over the moon. Possibly even higher. But there's no denying we're in a strong bear market right now. There's every chance that it will go down.

[kurious]

Nice selection, especially the Lancia     

Good of you to pick out the one that costs more than all the others put together !

https://petrolicious.com/articles/this-is-what-it-s-like-to-own-a-lancia-s4-stradale

0-60 on gravel in 2.2 seconds...  perfect for the rural shopping run.

[El duderino_]

4600 here we come

46000 here we come

[kurious]

Good morning Bitcoinland.

I see we had a bit of a dip, all the way down to where we were over a week ago...$6393USD/$8390CAD (Bitcoinaverage).

Why does this always seem (lately) to happen when I'm short on cash to buy more coins?

I can't bitch though. It's only money and I'm not impoverished quite yet.

maybe it doesn't go down to 3xxx levels after all

That 3xxx nonsense is just wishful thinking by people who missed the boat (or panic sold at the bottom) and desperately want the price to go down.

That 3xxx nonsense is something that you just can't dismiss outright. Sure we all want the price to go over the moon. Possibly even higher. But there's no denying we're in a strong bear market right now. There's every chance that it will go down.

Given 2014/15, there is a historical precedent.  I just hope if we are going that low, it's faster this time - grinding down and only hitting bottom in early 2019 would be tough.

Sooner, please.

[HairyMaclairy]

0-60 on gravel in 2.2 seconds...  perfect for the rural shopping run.

1.7 liters. 900 kg / 1980 lbs.  Over 750 kw / 1000 hp.  And this is in 1985.

[Majormax]

Good morning Bitcoinland.

I see we had a bit of a dip, all the way down to where we were over a week ago...$6393USD/$8390CAD (Bitcoinaverage).

Why does this always seem (lately) to happen when I'm short on cash to buy more coins?

I can't bitch though. It's only money and I'm not impoverished quite yet.

maybe it doesn't go down to 3xxx levels after all

That 3xxx nonsense is just wishful thinking by people who missed the boat (or panic sold at the bottom) and desperately want the price to go down.

That 3xxx nonsense is something that you just can't dismiss outright. Sure we all want the price to go over the moon. Possibly even higher. But there's no denying we're in a strong bear market right now. There's every chance that it will go down.

Given 2014/15, there is a historical precedent.  I just hope if we are going that low, it's faster this time - grinding down and only hitting bottom in early 2019 would be tough.

Sooner, please.

Agreed. A sharp move down ( hopefully in the next couple of months) would be a good way to end this bear market. If it's sharp enough, I think it might bottom at 3.5-4k, but as you say, it's the slow grind down that is going to be worse, and get lower.

In stock trading parlance, we are on the 'slope of hope'. It can be a long one.

[HairyMaclairy]

In my view, Bitcoin is time driven.  I’m looking for a bottom in Jan / Feb 2019. Not before. 

[Robin,Hood]

One thing is certain, the two lines will meet again.
Either red line moving up, which would be a slow tortuous process, or orange line goes for a quick kiss and meet, or a combo of the two.
Take your pick

[Phil_S]

Linear? Really? Come on.

[ophyrim]

One thing is certain, the two lines will meet again.
Either red line moving up, which would be a slow tortuous process, or orange line goes for a quick kiss and meet, or a combo of the two.
Take your pick

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear.

by the wayr^2=0.886, which means the prediction model is 88% accurate.

[Robin,Hood]

One thing is certain, the two lines will meet again.
Either red line moving up, which would be a slow tortuous process, or orange line goes for a quick kiss and meet, or a combo of the two.
Take your pick

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear. r^2=0.886 by the way

I did not say growth is linear.
I am willing to take any bet that at some stage the two lines will touch again.

[kurious]

In my view, Bitcoin is time driven.  I’m looking for a bottom in Jan / Feb 2019. Not before.  

Which means this bear market will match the last, which in my heart of hearts I always expected.  I did cash out enough in December to have no regrets, I reasoned that I knew I'd regret it if I didn't and we were in 2013 all over again.  

I wish we weren't watching history repeat itself again, mind you.  Barring a real Bitcoin ETF or some macro event /crisis that points wealth en masse towards crypto, I do think we have a long grind to endure, but hope springs eternal.  

[d_eddie]

Good morning Bitcoinland.

I see we had a bit of a dip, all the way down to where we were over a week ago...$6393USD/$8390CAD (Bitcoinaverage).

Why does this always seem (lately) to happen when I'm short on cash to buy more coins?

I can't bitch though. It's only money and I'm not impoverished quite yet.

maybe it doesn't go down to 3xxx levels after all

That 3xxx nonsense is just wishful thinking by people who missed the boat (or panic sold at the bottom) and desperately want the price to go down.

That 3xxx nonsense is something that you just can't dismiss outright. Sure we all want the price to go over the moon. Possibly even higher. But there's no denying we're in a strong bear market right now. There's every chance that it will go down.

Given 2014/15, there is a historical precedent.  I just hope if we are going that low, it's faster this time - grinding down and only hitting bottom in early 2019 would be tough.

Sooner, please.

That's what I meant. Inb4, I don't want to rush touchy badgers, but please.

[Cassius]

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear.

by the wayr^2=0.886, which means the prediction model is 88% accurate.

Help me out here, I've missed something.
If that curve is maintained and roughly predicts future price, BTC is never hitting $20k again.
If not, it's inaccurate right now and so no good at predicting future price anyway.

[Rosewater Foundation]

Good morning Bitcoinland.

I see we had a bit of a dip, all the way down to where we were over a week ago...$6393USD/$8390CAD (Bitcoinaverage).

Why does this always seem (lately) to happen when I'm short on cash to buy more coins?

I can't bitch though. It's only money and I'm not impoverished quite yet.

maybe it doesn't go down to 3xxx levels after all

That 3xxx nonsense is just wishful thinking by people who missed the boat (or panic sold at the bottom) and desperately want the price to go down.

That 3xxx nonsense is something that you just can't dismiss outright. Sure we all want the price to go over the moon. Possibly even higher. But there's no denying we're in a strong bear market right now. There's every chance that it will go down.

From 20xxx to 12xxx to 6xxx. All nonsense.

[sirazimuth]

One thing is certain, the two lines will meet again.
Either red line moving up, which would be a slow tortuous process, or orange line goes for a quick kiss and meet, or a combo of the two.
Take your pick

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear. r^2=0.886 by the way

I did not say growth is linear.
I am willing to take any bet that at some stage the two lines will touch again.

Offer that bet to the troll.
Winner gets a silver gravy boat, hitler mustache and nazi tee shirt.
He’d take you on in a heartbeat.
And then when you win, just tell him to keep that shit....

[Rosewater Foundation]

A New Hope ?

Bitcoin rising ?

[mindrust]

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear.

by the wayr^2=0.886, which means the prediction model is 88% accurate.

Help me out here, I've missed something.
If that curve is maintained and roughly predicts future price, BTC is never hitting $20k again.
If not, it's inaccurate right now and so no good at predicting future price anyway.

How did you figure that out? Even if we follow this line, it still very well may hit $20k and above.

Don't you see there are "anomalies" every once in a while here and there?

There are many speculative charts and modellings on the price of btc. My favorite one is this;

https://mobile.twitter.com/tuurdemeester/status/545993119599460353?lang=en

See? This one is also logarithmic as the other one above.

[Rosewater Foundation]

[Cassius]

why do you think the growth is linear? here is a curve I have created. This curve is very primitive of course (I spent 2 min. for it) but it is very clear that the increase of the price is not linear.

by the wayr^2=0.886, which means the prediction model is 88% accurate.

Help me out here, I've missed something.
If that curve is maintained and roughly predicts future price, BTC is never hitting $20k again.
If not, it's inaccurate right now and so no good at predicting future price anyway.

How did you figure that out? Even if we follow this line, it still very well may hit $20k and above.

Don't you see there are "anomalies" every once in a while here and there?

To me it looked like that curve was flattening to an extent that it would never hit the top data points again.
Edit: not talking about bubbles/anomalies here. Tracking that curve suggests that stable $20k+ prices will not occur.