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Question: Nov. 25 Closing Price:
<$4,000 - 22 (43.1%)
$4,000-$4,200 - 0 (0%)
$4,200-$4,400 - 3 (5.9%)
$4,400-$4,600 - 1 (2%)
$4,600-$4,800 - 5 (9.8%)
$4,800-$5,000 - 2 (3.9%)
$5,000-$5,200 - 3 (5.9%)
$5,200-$5,400 - 1 (2%)
$5,400-$5,600 - 0 (0%)
$5,600-$5,800 - 1 (2%)
$5,800-$6,000 - 0 (0%)
>$6,000 - 13 (25.5%)
Total Voters: 51

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 20759902 times)
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JayJuanGee
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How much alt coin diversification is needed? 0%?


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October 05, 2018, 12:35:49 AM

[edited out]

JJG, I am obviously hoping for a scenario a bit more like 2013, with an april top followed by new ath later in the year. I doubt this will happen in the short term, invalidating that pattern.

There can be all kinds of variations of patters, and sure we can use those patterns as models, but it if one pattern is not playing out exactly as it had previously, does not necessarily mean that we would be in an alternative suggestion, because the pattern that ends up taking place could end up being some variation of the two or something completely different than either one, even if it may have started out similar to both.


In any case, dont think looking at the past is too relevant here.

I have no problem looking at the past, and it seems to me that the past can be very relevant for considering what is possible.  I just have issues with attempting to lock into thinking about what is going to happen next and assigning a high probability to that prediction based on a previous pattern.

I dont really agree with your wording of ‘correction’, its ok to say btc has crashed since ath, a 70% drop is just that, a crash.

We can agree to disagree, and perhaps it does not matter what we call it exactly.

If you want to start BTC history from December 2017, then perhaps your framing our current situation as a crash is more meaningful.

I, I personally, believe that starting from mid to late 2015 is a much better reference point in order to attempt to get a better and broader understanding, yet I understand that depending upon what point(s) you are attempting to make, you might zoom in or out in order to make your proclamations about where we are or where we might be going... .and sometimes, the framework of what happened between December 2017 and now is going to be relevant for making various points, but from my perspective, it still does not seem to be a good framework for concluding what we are "in" at the moment - in part because we are still "in" it...... so even if we can make tentative conclusions, it seems problematic to overdescribe what we are "in" in such a way that seems to presume where we are going.

In another framework, we could describe what BTC prices did from August 2017 to present, and in that regard, we are still going to find that we had both UP and DOWN..... that is still largely UP (something approaching 3x), and to have 3x price appreciation in a bit over a year remains quite a phenomenon and hardly a crash.. even if there happened to have been a fairly stupendous and prolonged peak of prices (extensive volatility) in the middle of that over a year period.

So, for me, it remains quite problematic (even for bullish folks) to be accepting seemingly noncontextuallized and overly bearish frameworks that seem to make too many presumptions about both current status and where the price is going from here.

Regarding your wish about the direction of the price, that should not have too many bearings upon thoughts about BTC framework (even though I understand that someone might make bearish proclamations while saying that they are bullish in order to counter-balance their bearish proclamations in terms of their supposed "wishes."  not saying that you, specifically, are doing this.. at least, not yet...  Cheesy Cheesy Cheesy)

Especially since it is accompanied by the  complete bloodbath that is the alt-markets.

Well, yes.  Any of us following BTC and attempting to make comparisons towards previous crypto-times, are going to recognize that shit coins bring a complexifying dynamic to the whole space, including bitcoin.  Alt coins are not merely a negative phenomenon that is currently dragging bitcoin down, but they are also a phenomenon that facilitated the influx of a bast amount of money into both bitcoin and into the crypto space that might not have otherwise been mobilized in the crypto direction.  

So, yeah, not only dealing with actual dynamics, but also dealing with the way the space is conceptually framed - and even some folks attempting to describe the whole market as Crypto and to see the up and down performance in that kind of macro level which can be misleading, but it can also provide price pressures that go in both directions.

Of course, many of the active participants in this thread consider bitcoin as the dominant player, yet there are not too many hardcore bitcoin maximalists who attempt to totally ignore the shitcoin influences on bitcoin (the good, the bad and the ugly influences).


One scenario where bitcoin could go lower (and take alts with them) is if miners make a play to push price down to bankrupt less efficient miners, allowing them higher market share in the future as inefficient mining ventures go broke.

I doubt that we just frame one set of players and suggest that they are incentivized (and perhaps able to accomplish a momentum push), and I thought that a lot of us have come to realize that the miners are a lot less powerful than a variety of previous conspiracy theories made them out to be.  Of course, they are likely decent sized holders of coins, but I doubt that they are centralized enough to really make such a price driving down attempt (whether they were to make such attempt overtly or covertly).  

By the way, even though frequently there are proclamations of mining centralization, I think that there is a decent amount of evidence that mining is becoming more and more decentralized with the passage of time, rather than more centralized - even if we have a few BIGGER (miner) players, here and there.

Still, I hope 6k is the bottom (but then we saw the bottom 6 months ago, only 3 months after ath! 🤔 )

You are coming off as quite the pessimist in this particular more fleshed out post.

As I already mentioned, it does not really matter too much about what you hope, and it also does not seem to matter too much that the BTC price went "crashing down" (your words, more or less  Roll Eyes) from $20k to $6k and then got stuck in the $6k territory for an extended period of time...   Those dynamics are largely within the normal expectations of a market like this one.  In other words, does not seem abnormal when looking at it in retrospect, and does not suggest that there is any greater likelihood for DOWN than there is for UP or that there is for FLAT...

So, in essence, if you are not serving as some kind of foil or Rosewater sock, seems that you have been reading (and believing) too many bear proclamations about the dire position of bitcoin.  Again, who gives a ratt's ass if the price goes up or down, and just prepare for either scenario.. because both we cannot really know with any kind of certainty about short term moves, and in the long term we already know that there are ongoing great BTC fundamentals that remain quite likely to continue to put upwards price pressures upon bitcoin (and we should realize what that causes, in the longer time frames, no?).

[edited out]

Who are you and what have you done to our friend??


Actually, you are correct bitserve, the style, the bearish perspective and the seemingly better English typing skills does not come across as the same micpeep.

[edited out]
Your english is clearly improving every day, you could just check your first few posts on this forum and it is evident. By the time we reach $100K you would have probably mastered it.

Personally, I hope that micpeep's english still sucks a BIG bag of dicks by the time that we reach $100k, that would signify a fairly expedited rise to $100k rather than a 10 year process.   Wink Cheesy
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Bitcoinaire
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Est. 2013


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October 05, 2018, 12:42:51 AM

I can’t see ANY ETF getting approved for at least a couple of years. Getting annoyed with seeing $6,xxx.
Really feels 2015 rolling along $200-$300.

When is this market going to move, man?

I was promised Lambo’s, hookers & cocaine Wink

It's been hookers and cok....wait.

Edit:
Rosewater Foundation
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October 05, 2018, 01:06:51 AM

 Cheesy I just want you to despise me


The great mister vegetable cocktail! I hate you like poison for reasons.

Happy now?
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October 05, 2018, 01:20:01 AM
Merited by HairyMaclairy (1)

You're all a bunch of assholes, this thread sucks, and bitcoin is probably dead.
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October 05, 2018, 01:28:02 AM
Merited by Bitcoinaire (2)

I can’t see ANY ETF getting approved for at least a couple of years. Getting annoyed with seeing $6,xxx.
Really feels 2015 rolling along $200-$300.

When is this market going to move, man?

I was promised Lambo’s, hookers & cocaine Wink

It's been hookers and cok....wait.

Edit:

 How serendipitous that I took a screenshot (kind of) before you edited your post.  It's Sleeman Clear 2.0 (which I had planned on saying was much better than Coors Light) and tuica (which I smuggled home in plastic coke bottles stashed in my luggage) for me tonight.  Shit.... to many brackets - lost my train of thought.   Oh yeah, my wife would kill me if I drank Coors Light no that's wrong...did hookers and coke.



 my fingertips are numb.

realr0ach
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October 05, 2018, 01:31:48 AM

Lemme get this straight, the bank connected to Tether in Puerto Rico, Noble bank, is imploding, and some guy named Brock Pierce who is connected to the Clinton Foundation, Jeffrey Epstein, Pizzagate, and all kinds of other bizarre shit is all at the center? lol...

Before anyone says this gang of people including Brock Pierce, Marc Collins, and others are innocent, just one look at the guy's face tells you all you need to know.  The most completely obvious sex crimes mugshot you've ever seen in your life haha:



I'm so tired of looking at all these bitscams, shady bitcoin retards, and the blatantly obvious fact the entire bitcoin market is controlled by a single entity operating on Bitfinex through fraud.  This shit all needs to burn in hell and the world go back to silver and gold as money because every single shitcoin is useless and designed to centralize anyway.
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October 05, 2018, 01:35:04 AM

You're all a bunch of assholes, this thread sucks, and bitcoin is probably dead.

 That would be the 314th time it has died Wink



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October 05, 2018, 01:38:55 AM
Merited by xhomerx10 (1)

Here's some amazing, WO-exclusive analysis.



I'll see you all at $0!
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October 05, 2018, 01:48:32 AM
Merited by bones261 (1)

I've decided to invest my gains in Nazism. Seems like an up and comer. Idk.
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October 05, 2018, 02:09:47 AM
Merited by bones261 (1)

Nice place in Germany

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October 05, 2018, 02:56:06 AM
Merited by jbreher (1), HairyMaclairy (1)

help them find a cure for white-nose syndrome.  Let's hope it worked; it's time to call in a favour Wink


I repeatedly misread the link as "white noise". Figured out the poor bats, navigation blinded by noise, would go banging their miserable heads on walls and things.

Wall watching takes on a whole new twist in that context.
JayJuanGee
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How much alt coin diversification is needed? 0%?


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October 05, 2018, 03:03:43 AM

Don't worry boys, the Bitcoin market will continue to stay down all this year, but will begin to rise again mid next year along with the whole U.S. stock market.

Just like 2014 was, going into 2015.

You see, it's all engineered and managed markets now. It's all fake and completely managed.

They just need Average Joe to think it's real.

The game: 2-3 years of raging bull, followed by 1-1.5 years of bear.

This is exactly the way the U.S. stock market played out in 2011-2013. Then again in 2015-2017.

In a long term melt-up, this is the new new. Get used to it.  Wink


Get the fuck out of here.

Nonsense!!!!


Even if coincidentally you end up being correct about what happens in BTC price, there is no preordained plan.

What actually happens, in reference to BTC price, is that bears push the shit (referring to BTC price) down as long and as far as they can, and when they no longer have any choice about pushing the BTC price down, it goes up.

O.k., sometimes, there can be some correlations to other markets and/or to calendar year and/or to news events, but momentum remains based on a bundle of variables that might push in one direct on or another or just peter out when it seemed to picking up.

Don't worry boys, the Bitcoin market will continue to stay down all this year, but will begin to rise again mid next year along with the whole U.S. stock market.

Just like 2014 was, going into 2015.

You see, it's all engineered and managed markets now. It's all fake and completely managed.

They just need Average Joe to think it's real.

The game: 2-3 years of raging bull, followed by 1-1.5 years of bear.

This is exactly the way the U.S. stock market played out in 2011-2013. Then again in 2015-2017.

In a long term melt-up, this is the new new. Get used to it.  Wink

Not likely.

More likely: 1-3 years no crossing of $20k while essential infrastructure is being build.

HODL will get new meaning.

Fickle Wekkel is even more depressing than porkie Torque. 



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October 05, 2018, 03:16:20 AM
Merited by bones261 (2)

Current analysis.  We are bumping our heads against the orange bear down trend but finding local support from a weak green trend line.  This green trend line was previously support, swapped to resistance and then has swapped back to support.  It is likely to break down within the next 48 hours and go back to being a resistance line.  Am currently short with an entry point just under $6,600.



https://www.tradingview.com/chart/BTCUSD/n3hY5Yri-Bitcoin-USD-Support-and-Resistance-lines-05-10-2018/
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October 05, 2018, 03:31:17 AM

I've decided to invest my gains in Nazism. Seems like an up and comer. Idk.

You've got the goyim touch.  You've got the goyim power. When communist Jews are let loose you'll be riding the eye of the storm.

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October 05, 2018, 03:59:59 AM

Going up when Bakkt arrives in November?


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October 05, 2018, 04:02:39 AM

I've decided to invest my gains in Nazism. Seems like an up and comer. Idk.



You're all a bunch of assholes, this thread sucks, and bitcoin is probably dead.

So should we go all in this instead of holding our dirty BTC?

https://medium.com/nebulasio/announcing-the-nas-token-swap-via-nas-nano-v2-2-0-62d13b1b02bc

It seems like such a scam just like ETH was.




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October 05, 2018, 04:17:59 AM


Good comedy screwed up with alt coin pumping.  Shame on you, elrippos friend!!!!!    Angry Angry Angry

Dear JayJuanGee, go fcuk yourself  Cheesy Grin

Shame on you, elrippos friend.

Failure and refusal to acknowledge, admit or feel bad about your off-topic shit coin pumping behavior. 



Dear JayJuanGee, you honestly believe there is no alternative to BTC and calling me? WOW!

What the fuck you talking about?  Is monero pumping a subject of this thread?

You just made it a subject  Grin
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October 05, 2018, 04:18:30 AM




https://dailystormer.name/jewish-georgetown-professor-tweets-that-the-corpses-of-white-men-should-be-castrated-and-fed-to-pigs/

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October 05, 2018, 04:20:39 AM

https://finance.yahoo.com/news/lockheed-clinches-632m-fms-deal-152003650.html



We kill suspects whose names we know, and whose names we don’t; we kill the guilty and the not guilty; we kill men, but also women and children; we kill by day and by night; we fire missiles at confirmed visual targets, but also at cellphone numbers we hope belong to targets.
(via @J9Roem)





That's politics  Grin Wink Cheesy
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October 05, 2018, 04:23:39 AM

https://www.newsbtc.com/2018/10/03/big-institutional-investors-are-buying-large-amounts-of-bitcoin-in-otc-market/

Quote
While some cryptocurrency market data providers estimate the daily trading volume of Bitcoin to be around $4 billion, according to ShapeShift’s Coincap.io, which filters out inflated volumes and cryptocurrency exchanges suspected of utilizing bot trading, the real volume of Bitcoin hovers at around $2.7 billion.

wait Wat??? did we just see an alt? ^^^
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