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

[theymos]

Jihan is reported to have said a few hours ago regarding the BCH fork, "I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!" I think he or someone aligned with him dumped on low volume in order to send some kind of message, though I'm not sure what that message is supposed to be: there really shouldn't be much fundamental relationship between hash power and prices except insofar as it causes technical issues (eg. slow blocks -> higher fees), but no BTC issues seem likely here.

[Torque]

BAKKT launch

I thought YOU were smarter than THAT..

Not sure what you mean. I could give a shit about BAKKT.

However, I am smart enough to know that the deep pocket players that will be playing the BAKKT game aren't going to start kick off without dumping the current market price first. Scare out the little guys and take positions. It's market strategy 101.

And this market is so easy to dump (if you have the coins like miners and exchange operators do). The float is thin as a pancake. Overall daily trading volume is a joke. Hell, some of the exchanges could even be running completely phantom trades.

[Last of the V8s]

lol i didn't post that theymos fud earlier because too fuddy and unsourced but w/e
his point is ok of course

[cAPSLOCK]

For me there is little doubt this is all tied to the BCH drama.  Look at the players.  Several big whales all playing chicken with coins and hashpower.

Thoughts:

1.  Bitcoin has a boss fight every so often.  This is round two of it's fight with BCash.
2.  The world, and even the bitcoin community is showing they are actually afraid of/believe in Craig Wright.

I am far more set at unease by #2 than #1.

But I believe both will pass and to be honest I look forward to the sea of corpses it leaves.

At least some of the enemies of BTC will be among the fallen.

[marcus_of_augustus]

BAKKT launch went past point-of-no-return for take off ... should be all good, pass around the peanuts, we'll be going supersonic in no time

[jbreher]

Kind of feels like we’re sitting on a knife edge, price slowly decreasing over the last week. Got a feeling this BCH shit fork is going to make us bomb under $6,000. It shouldn’t be connected at all but I have a bad feeling.

Alternatively maybe I’ve been smoking too much weed & should go back to bed.

Dang. Looks like your premonition was valid. Did you find a way to profit from it?

[theymos]

lol i didn't post that theymos fud earlier because too fuddy and unsourced but w/e
his point is ok of course

That was my thinking as well when I first read it, but it was posted ~3 hours ago, before this crash. It strikes me as too much of a coincidence.

[rafanadal]

bItCoIn iS aLwAys bUlLiSh iN nOvEmBeR

[LFC_Bitcoin]

Kind of feels like we’re sitting on a knife edge, price slowly decreasing over the last week. Got a feeling this BCH shit fork is going to make us bomb under $6,000. It shouldn’t be connected at all but I have a bad feeling.

Alternatively maybe I’ve been smoking too much weed & should go back to bed.

Dang. Looks like your premonition was valid. Did you find a way to profit from it?

I didn’t to be honest.
I’m more worried about my stash (effectively my future) decreasing in value as we speak buddy. BCH & its gang of ogres have been hanging over us like a bad smell for too long.

I know you’re heavily involved in BCH so I’m sure you’re not bothered by this?

[Torque]

bItCoIn iS aLwAys bUlLiSh iN nOvEmBeR

This November is different tho, idk 

[mindrust]

I've seen this movie before.

Still not convinced to sell. Not before $100k. 

HODLing and buying even more, like I always do.

[Last of the V8s]

lol i didn't post that theymos fud earlier because too fuddy and unsourced but w/e
his point is ok of course

That was my thinking as well when I first read it, but it was posted ~3 hours ago, before this crash. It strikes me as too much of a coincidence.

Certainly someone big believed or orchestrated it or both. But the TA and the trend also called for these ... dips.

[infofront]

And $6000 broken.

You’re 30 mins late. We’re on our way to $4xxx

When will this shit show STOP?

Why this is happening?

This is a predicted and necessary event.

next stop 4650

It seems to me that a final capitulation, based on some bcash fud, is a very positive scenario.

[jbreher]

Bingo! Nice one Hairy. Have you been there?  And Mic, there is a starbucks just behind this. Partial credit, haha
The spirit of Haida Gwaii bronze cast sculpture in the international departures of Vancouver airport.

http://i68.tinypic.com/2i947yo.jpg

Hmm. I was just at YVR on Monday. Guess I shoulda looked around more.

[BTCMILLIONAIRE]

bItCoIn iS aLwAys bUlLiSh iN nOvEmBeR

This November is different tho, idk 

November isn't over yet.

[LFC_Bitcoin]

I've seen this movie before.

Still not convinced to sell. Not before $100k.  

HODLing and buying even more, like I always do.

Yeah fuck that!
What kind of loser sells into this?

HODLING until 2021 at least - We’re all in this for the long haul. Doesn’t help the nerves when shit like this happens though does it.

[rokkyroad]

I've been waiting for this for so long. 

[El duderino_]

Was not online most of the time last 3 hours .... very little
So gotta catch up the pages when i’m home
But first gonna stop for the 30 min gritt work out....
Now i did see the price action this is going to drive me mad in this group session today
Price rekt next body rekt

I guess when i Will be seeing last pages it Will be about many where/when/how/deep/far etc the bottom i not

Honeybadger don’t give a f*** but Micg prefer the big green lines  (#keeponhodling)
Nothing changes ( work out Will just be going little bit more intens )

[vit05]

Jihan is reported to have said a few hours ago regarding the BCH fork, "I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!" I think he or someone aligned with him dumped on low volume in order to send some kind of message, though I'm not sure what that message is supposed to be: there really shouldn't be much fundamental relationship between hash power and prices except insofar as it causes technical issues (eg. slow blocks -> higher fees), but no BTC issues seem likely here.

Great when the topic has information in a panic moment. Even if it is not good information, bring some rationality to a sudden movement like what happened helps you to think better and plan the next actions.

[cAPSLOCK]

something something critical...