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

[JayJuanGee]

via Imgflip Meme Generator

Seems like I have been saying this for a quite a long while - but probably Jimmy said it better... hahahahahhaa   

This is so true

All cryptocurrencies have a strong correlation between them. If BTC falls, all of them fall. The volatility is a bit different between them, but the up and down movements are almost all the same.

Even though with recent price performance, you would likely be correct to identify correlation between cryptos, I would not misidentify that correlation to strength of any of the other cryptos, except that they are largely riding on the security strength and the sound money strength of bitcoin, and even if it might appear that one or another of the shitcoins is engaging in innovation or price leading, that is likely a mirage - because bitcoin continues to be the strength amongst the whole crypto space, even if some of the other (shit) coins could cause you to become way more rich than if you merely played bitcoin by itself.

For now, I have only made money with bitcoin, and had 3 lucks in ICO. Of my lucky ICO, i sold just one of them, the others reach 1000% and now they are in 90% loss...

Perhaps if you are able to time them better then you could come out better, but I understand that timing is more easily said than done, and might require either decent luck or some kind of insider information track.

Even with Ethereum I am losing money now with this DIP...

From now on, only bitcoin for me. I am looking for an exit point for my shitcoins

Your transitioning over to bitcoin might happen to a lot of other folks who come into the space because of shit coin distractions; however, it can take a while to really establish your bitcoin bonafides including going through some bitcoin UPs and DOWNs, and refusing and rejecting various altcoin and ICO temptations.  Personally, I don't find any problem with guys (and gal) who might choose to invest a very small portion of their crypto value into alt coins and ICOs, and perhaps as a kind of fun, but really I don't see any reason to use more than 10% of your crypto value, and personally, mine is still less than 2% and seemingly closer to 1% based on recent continued fall of value of alts as compared with bitcoin.  I mostly ignore them, but if one or another pumps, then I might cash some out, but I don't even care if each of them or all of them go to zero.

[HairyMaclairy]

from whence are you deriving that horizontal line Hairy?

18 June??

Its more of a zone that has acted as both support and resistance.  $6,850 should put us just past the zone with a clear run to $7k.  No promises as to what happens when we hit $7k.  I would like to think we would free run to $7,300 but suspect it will not be that easy.  

[JayJuanGee]

I think that we should boticize you hairbeary.  Perhaps rename as you chartbotcized, a variation of chartbuddy. 

[HairyMaclairy]

I think that we should boticize you hairbeary.  Perhaps rename as you chartbotcized, a variation of chartbuddy. 

I'll take that as a compliment.   

[Resumean]

Swiss brand Hublot ($10K+ entry-models) announced it's Bitcoin Big Bang Model which you can buy only with Bitcoin. Not a huge news, but another name placed on their timepieces is Ferrari, for example.

This new watch is a 210-piece limited edition watch that can only be purchased with bitcoin, and a watch that can be bought directly from the watchmaker with bitcoins.

Blockchain is a revolution in the financial system and the future of e-commerce, and it has been broadly used as a digitised and decentralised public ledger of all digital currency transactions since its creation. By allowing digital information to be distributed, Blockchain technology creates the backbone of a new type of Internet. Well-recognised for its originality, the technology is regarded as one of the most powerful and fastest-growing trading tools, not to mention unlimited possibility of usage in different aspects that will revolutionise various industry norms and trade.



Adjusted image



https://www.hublot.com/ru/news/get-ready-for-hublot-s-big-bang-launch-in-the-field-of-blockchain-technology

[JayJuanGee]

I think that we should boticize you hairbeary.  Perhaps rename as you chartbotcized, a variation of chartbuddy.  

I'll take that as a compliment.  

Since you seem agreeable, somehow we have to get infofront to zap you with his magic wand to make it so.  

Like this:

[Elwar]

Guys, I'm scared. It's still under $10k.

 

[rafanadal]

Guys, I'm scared. It's still under $10k.

 

6 months now and counting

[rafanadal]

If we go below 10k again, i am not sure we'll see 5 digits again for a very long time if ever.

[rafanadal]

[jojo69]

more cowbell

[bitmover]

Guys, I'm scared. It's still under $10k.

 

We are closer to 5k than to 10k

[JayJuanGee]

Guys, I'm scared. It's still under $10k.

 

We are closer to 5k than to 10k

Which one will hit first?  What are the odds of $5k hitting first or $10k hitting first?  50%?  Greater?  Less?

Probably the odds are a bit in favor of $10k hitting first, even though that price point is further away than $5k, no?

Actually, Doug Polk already lost a bet on this point, but he was using $6k as the reference, yet the price had already breached $6k a couple of times at the time of Polks bet that $6k would not be breached again.  But he lost (barely, but still an unambiguous loss).

What if we were to choose a price point that is closer to our current price, such as $8,500, which is still further from us than $5k, yet seems that the odds of $8,500 hitting first are a bit greater than hitting $5k first?  Yes, no?  Anyone?   

Should we attempt to assign more specific probabilities, rather than just saying greater or lesser than 50% odds? I am sure that some folks are more confident than me to make an assertion and to assign a higher probability, and maybe even betting on a scenario that I currently am thinking is a bit less than 50% odds.

[HairyMaclairy]

Downward trendline seems to be losing its relevance.  $6850 now the number to beat in short term.  More pain if we break under $6500.

Old trend line from above shown in yellow (now broken).  New trend line shown in blue.  

[HairyMaclairy]

Detail of new trend lines.  Break downwards under $6,440 and break upwards over $6,850.

[HairyMaclairy]

Muh leverage

[lightfoot]

Swiss brand Hublot ($10K+ entry-models) announced it's Bitcoin Big Bang Model which you can buy only with Bitcoin. Not a huge news, but another name placed on their timepieces is Ferrari, for example.

1) 10k entry is pretty cheap overall. I'd prefer a Patek Phillipe myself or a Breuget over a Hublot.
2) They want a picture of my passport to pre-register? That's got to be the fucking ballsiest thing I have seen all week.

Fuck this. Go to Vegas, cash out 50-80k and buy a really nice Patek repeater. Do not go to the Cartier store in Wynn unless you're looking to pick up a 1.3m platinum watch....

[infofront]

I think that we should boticize you hairbeary.  Perhaps rename as you chartbotcized, a variation of chartbuddy.  

You just reminded me of terabear. What happened to him/her and all of our beartrolls?

Guys, I'm scared. It's still under $10k.

 

We are closer to 5k than to 10k

Which one will hit first?  What are the odds of $5k hitting first or $10k hitting first?  50%?  Greater?  Less?

Probably the odds are a bit in favor of $10k hitting first, even though that price point is further away than $5k, no?

Actually, Doug Polk already lost a bet on this point, but he was using $6k as the reference, yet the price had already breached $6k a couple of times at the time of Polks bet that $6k would not be breached again.  But he lost (barely, but still an unambiguous loss).

What if we were to choose a price point that is closer to our current price, such as $8,500, which is still further from us than $5k, yet seems that the odds of $8,500 hitting first are a bit greater than hitting $5k first?  Yes, no?  Anyone?  

Should we attempt to assign more specific probabilities, rather than just saying greater or lesser than 50% odds? I am sure that some folks are more confident than me to make an assertion and to assign a higher probability, and maybe even betting on a scenario that I currently am thinking is a bit less than 50% odds.

Even though I've been a bull cheerleader, I think we'd be more likely to hit $5K than $8,500 in the short term (1-3 weeks). There's more resistance on the way up to $8,500 than there is support to $5,000.

[elrippos friend]

Boring in here 

[HairyMaclairy]

You just reminded me of terabear. What happened to him/her and all of our beartrolls?

Terabear posted some retirement pics.  Let's hope he / she is happy.  

I like this quote from Tera in 2013.

Bitcoin's monumental success will be impeded only by a catastrophic failure, such as protocol failure, cipher breakage (likely), complete government criminalization/firewalling, or a highly superior competetion. Therefore, it will either be $0 or $20,000+, and nothing inbetween. Happy trading gentlemen.