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

[TeeBone]

so we're post that?

I still don't reckon we're there myself. There needs to be a proper titty trembling moment.

The last bubble's low was such a shocker because up until then everyone was adamant it could never go below its previous ATH. In the end it was over $100 lower than $266.

This time around I think the ultimate shocker would be a return to three figures.

Kind of apples and oranges, tho. That bubble rose 5X from previous high. This one 20X. Triple digits could happen, still.....but highly unlikely imo

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[Last of the V8s]

and the award for self delusion while attempting to troll goes to

[gentlemand]

Would be a shocker but its not a must happen thing.... going that look would look as unhealthy as going up to fast

Yes, but last December was insane going up. It could be insane going down too. Hardly anyone believed 20 grand was possible until it was.

But just as it was at the $19,990 level for a tiny amount of time, it would be the same tiny amount of time for the ultimate low. They're both bubble pops, just in different directions.

[TeeBone]

Never-ending bear flags on the hourly.

[TeeBone]

I got some bids at 999, in case of a fat finger. That shit happened at Finex yrs ago, flashed to 100.

[lightfoot]

True, they may be forced to dump as well in order to keep up. Kind of weird to see these people dumping the price of bitcoin into the ground giving HODLRs their coins for darn near free, but there you go....

[kurious]

so we're post that?

I still don't reckon we're there myself. There needs to be a proper titty trembling moment.

The last bubble's low was such a shocker because up until then everyone was adamant it could never go below its previous ATH. In the end it was over $100 lower than $266.

This time around I think the ultimate shocker would be a return to three figures.

I honestly don't know if those prices are possible except for a dump and a spike crash. The amount of people who know about Bitcoin is just so much higher.

Yes, they know about it, and they can see it's dropping like a stone, it's hardly a time for FOMO.  I am afraid I agree with the gentlechap above (and V8) that hasn't really hasn't stunned and shocked us yet.  I have fiat in, but this doesn't feel like the bottom while we're all bantering away and talking of 100K parties.

Sadly, it needs to hurt. I would love it to turn around now but it won't just because I want it to. 

And yes, it can go lower - of course it can.

[xhomerx10]

The market is very strange. Whenever there is a seller there will be one buyer, and they both think they are smart.

I disagree for at least for the retail investors: selling at this stage is mainly lead by fear, while the ones now buying are the crazy ones believing in Bitcoin's value. It takes way more balls and conviction buying in this relentless bear market.

You lose smaller on bear market than in bull.

Lets say I got my coins at 3k then bear market continuous and dropped to 2k, I lose only 1k per coin, that is if I got tired of hodling. Unlike in bull market, when you fomo'ed and got your coins at 15k then market corrected to 10k, you lose 5k a piece. Market now is so repressed that hammering it to lower price takes a lot more. Don't think any holder would sell at loss unless you want to buy more down below like whales do.

I'd be happy to take more coins at lower price. Its not balls at all. Don't think no one is buying at bear market, they are. I am.

Don't give up on your coin so easily.

 Say you had a finite amount of fiat to invest; make it US$30k -
You spend US$30k to get ten US$3k Bitcoin which subsequently drop in value to US$2k Bitcoin - you would be hodling Bitcoin worth US$20k of your initial US$30k investment.
OR you spend US$30k to get two US$15k Bitcoin which subsequently devalue to US$10k Bitcoin - you would be hodling Bitcoin worth US$20k of your initial US$30k investment.

Are you saying you "lose smaller" psychologically or am I so burned out from working night shifts that I am unable to comprehend a bigger picture here?  I can't see the difference.

[gentlemand]

I have fiat in, but this doesn't feel like the bottom while we're all bantering away and talking of 100K parties.

I don't think the people in this thread are any type of representation of the wider world. Even at $999 plenty here will still be in the black whereas your average Reddit mong will feel ruined. We'll be grumpy. He'll be thrashing in a pool of taupe shitwater.

[mindrust]

LeL I am now below my average cost per btc.

It is my turn to feel the pain.

Coulda cashed out from 3.8k and bought back. Didn't. What did I do instead? Bought more.  

[jojo69]

the rest are not, but the ETH is, it is a contender for the first place https://bitcointalk.org/index.php?topic=428589.msg48412665#msg48412665

[lightfoot]

Hm. Keeps going lower I might have to transfer gold into bitcoin. Wonder if there are any coin dealers around who will sell their btc for gold....

[empowering]

Hm. Keeps going lower I might have to transfer gold into bitcoin. Wonder if there are any coin dealers around who will sell their btc for gold....

This guy ^^

He has some gold laying about

[empowering]

[kurious]

I have fiat in, but this doesn't feel like the bottom while we're all bantering away and talking of 100K parties.

I don't think the people in this thread are any type of representation of the wider world. Even at $999 plenty here will still be in the black whereas your average Reddit mong will feel ruined. We'll be grumpy. He'll be thrashing in a pool of taupe shitwater.

I know it's the diehard types here, and not representative.  I was noting it is assumed this level of pain 'must be capitulation'.  However, it is entirely possible, even likely it will go lower, perhaps shockingly so as you rightly said.  Then there will be a fair while before it turns truly bullish. 

By the middle of next year, it could be pretty quiet in the WO.  Well... except for JJG of course.

[LFC_Bitcoin]

Said to myself in 2015 that I was happy with my stash & wouldn’t buy any more. Thought if this goes big (as in 1 bitcoin = over $40,000 I’ll have more than enough to be very wealthy).

Can’t help myself at the moment though, I’ve been buying every week since we went down to $7,000.
This is free fucking money at the moment (you know what I mean).

Just bought another £250 worth.

[dutchlincoln]

A couple more months at this price levels and we will witness a bunch of bankruptcies in the crypto market: Miners manufacturers, mining operators, ICO's... It may be better in the long run, but it will be hard to watch nevertheless.

So true 

i'm buying miners, and currently opening a 2nd location. I don't pay much for them, as there are plenty for sale. Also keeping enough structure to add more if the come available for a good price...

[qwizzie]

I have fiat in, but this doesn't feel like the bottom while we're all bantering away and talking of 100K parties.

I don't think the people in this thread are any type of representation of the wider world. Even at $999 plenty here will still be in the black whereas your average Reddit mong will feel ruined. We'll be grumpy. He'll be thrashing in a pool of taupe shitwater.

I know it's the diehard types here, and not representative.  I was noting it is assumed this level of pain 'must be capitulation'.  However, it is entirely possible, even likely it will go lower, perhaps shockingly so as you rightly said.  Then there will be a fair while before it turns truly bullish.  

By the middle of next year, it could be pretty quiet in the WO.  Well... except for JJG of course.

Yeah don't forget the majority has lost money since their investment. A lot. While most of here are still at least up 10x initial investment if not 100x

This gives food for thought : https://www.coindesk.com/when-bitcoins-price-breaks-down-it-follows-a-pattern
Personally i hope Bitcoin hit bottom at $3300 (Bitstamp).

[greensheep]

I guess one difference with 2014 is that back then, people were considering it a possibility BTC could dissapear slowly and die.
Whereas now, people know BTC is here to stay (at least for some time to come) with all the nasdaq, ETF things going on.
A possible recession could indeed slow things down, curious to see how it reacts.

[bitserve]

https://cryptodaily.co.uk/2018/12/bitcoin-finally-presents-perfect-setup-for-a-massive-short-squeeze