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

[realr0ach]

Looks like the scammers at Bitmain are trying to rig the market above their cost of production now.  This is how you get the long, drawn out bear markets.  They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time.  Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to.  If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.

If the chinese Bitmain have something to do with this price dip it looks like they still have some margin to dip it a little more based on their last Antminer s15 and its 28TH/s with 1596W and 0.08c/kwh (China average electricity price)

Doesn't Bitmain mine at 0.05/kwh?  Or possibly even lower with some type of govt subsidized power?  I've never seen anyone claim Bitmain mines with electricity that high.  If Bitmain was mining at 0.08/kwh, then you would have actual mining in the US, and places like KNC wouldn't have gone under.  This would be a great Trump Tariff target...

[El duderino_]

My btc friend having a small party as well but don’t feel to go for long today, just gonna hear his side of whats happening-thoughts

via Imgflip Meme Generator

via Imgflip Meme Generator

Pfffff hodlers life i guess

Cheers nocoiners

[realr0ach]

My btc friend having a small party

Trollgoossens real-time chronicle of phantom wealth evaporating.

[mindrust]

I really don't believe the fud about hitting 2k, fudsters are out in full force trying to get everyone to dump their coins on the cheap.  I believe bottom was already hit and we will never see those lows again.  There is just too much uncertainty in government currencies for bitcoin not to keep growing.

You under estimate the latitude available to the "price discovery" process.

The market will dump until every last drop of profit is extracted and only die-hard hodlers are left. It's only 20 months since we were at $1k and that level can easily be retested legitimately.

Expect the unexpected.

Trace Mayer also says the same thing. According to him there are many "hodlers of the last resort" who'll be hodling this no matter what happens and they'll even be increasing their stash during the process.

This is why btc didn't go lower than 3 digits in 2015. There are die hard hodlers.

[Yaplatu]

Micgoossens presently 

[xhomerx10]

^had some doubts initially but now I realize you're an actual piece of shit.

[theymos]

I was looking about an Italian trader on youtube and he was talking about 2 alert zones (1 week ago)

1st 3000-3800$, if this range will be broken he thinks
2nd 1145$

Do you really think it can go so low?

I won't completely rule anything out, but I suspect that we'll never drop below $2k. While we're likely to touch $3k, I think that anything below $3k is upwardly-unstable.

In the absence of some underlying catastrophe, the absolute floor IMO is $700, which is where we were 1.5 years ago. But many of the gains since then were real & fundamental.

[rafanadal]

The bottom will be somewhere around 10x BCH price

1.6k is to be expected.

[rjclarke2000]

The bottom will be somewhere around 10x BCH price

1.6k is to be expected.

So what will Bch be then??

[Last of the V8s]

Don't do this

do this

get this

[LFC_Bitcoin]

The bottom will be somewhere around 10x BCH price

1.6k is to be expected.

I won't completely rule anything out, but I suspect that we'll never drop below $2k. While we're likely to touch $3k, I think that anything below $3k is upwardly-unstable.

In the absence of some underlying catastrophe, the absolute floor IMO is $700, which is where we were 1.5 years ago. But many of the gains since then were real & fundamental.

Who to trust most regarding price speculation?

I think I’ll go with theymos tbh!

[realr0ach]

Interesting comment section.  I've always known the legalese between places like Canada and the UK seemed to imply Canada was not a sovereign nation and that the queen owned all their resources or some nonsense.  So people now speculate 'the queen' is recalling in all the gold from 'her' colonies:

https://www.silverdoctors.com/gold/gold-news/john-adams-has-some-shocking-news-about-australias-gold/

Where does that leave Canada and Australia after currency reset?  I guess it means whoever has the gold makes the rules, both countries will be flat broke, and you're slaves of the UK again (still?) unless you oppose them with superior firepower to take back sovereignty.  UK power projection is probably somewhat laughable nowadays (Falkland Islands anyone?) so pretending this arrangement will hold and the UK or Zio-puppets running Canada and Australia will not be demolished by the people who live there is kind of a joke.

[Yaplatu]

^had some doubts initially but now I realize you're an actual piece of shit.

Me ? It's just a joke, sorry ...I will not do it again 

[Hueristic]

Can’t believe this, there’s no real reason for this kind of dumping. Down nearly 40% in a month. At this rate I just don’t know how low we can go.

This is really hard watching your investment turn to shit.

I’m not selling though.

This is obviously the PTB flexing their muscles and making a move. HoneyBadger doesn't care.

Next year at this time it will be all strippers and lines again, for those smart enough to still be here.

I sold a little in that range but my overall average sell price was somewhere around 6.5k.

That felt terrible when BTC shot up to near 20k right after I sold.
Now not so much.

I am confident the day will come when I feel terrible about selling at that price again.

I just think it will take a little while.

I am there with you but luckily(?) did not have much do to getting rekt 6 months previous from IRL shit.

Also those Coinbase fuckers stopped my last sell at 17,500 do to KYC so I never got that one in.

[TheCactus]

Next year at this time

Theymos just finished saying the absolute bottom is around $700...

You think you can turn this behemoth around in one year??

[kaeltr]

Daily RSI according to bitcoinwisdom is 12.38. Below 30 and with a high of 21.66 for the last 12 days.

Buy now or wait for 3200 forever.

[Hueristic]

Next year at this time

Theymos just finished saying the absolute bottom is around $700...

You think you can turn this behemoth around in one year??

It won't be me, the Moneymen steering the ship now can't wait longer than that to profit.

If we hit $700 I'll sell everything including my skivvies and be all in and eating ramen and garbage.

[HI-TEC99]

Can’t believe this, there’s no real reason for this kind of dumping. Down nearly 40% in a month. At this rate I just don’t know how low we can go.

This is really hard watching your investment turn to shit.

I’m not selling though.

This is obviously the PTB flexing their muscles and making a move. HoneyBadger doesn't care.

Next year at this time it will be all strippers and lines again. for those smart enough to still be here.

CoinDesk is saying it's the worst weekly loss since April 2013. However, 8 or 9 months later that year Bitcoin hit a new ATH. You never know what HoneyBadger will do. We might be buying lambos for Xmas presents next year.


https://www.coindesk.com/down-36-bitcoin-price-faces-worst-weekly-loss-since-april-2013

[BitBustah]

Looks like a lot of greed in this thread, people waiting to buy in for absurdly low prices that will never be touched again.

[TheCactus]

I'm saying my goodbyes. Give me a minute...