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

[Hueristic]

I'm prepared to buy all the way down. I will not begin until we reach the next resistance area around $2,700ish.

I'm prepared to buy all the way down. I will not begin until we reach the next resistance area around $2,700ish.

i will jump in if we reach 1.5 k 

I seriously have no clue what my number is these days.
I don't want to do KYC anywhere so...

[JayJuanGee]

Bitcoin needs to get above 10k fast. Irobot has a new model that empties its own bin, and I'm thinking "Man that can make me even MORE of a degenerate pig".....

Oh hell yeah, I could do with one of those myself. Hurry the fuck up BTC , some of us have needs!

As if any of you Hodlers will sell any when we see $10K. Hodlers don't know how to sell.

Today's idiot is tomorrow's genius

Next time we see 10k could be  mid 2020. Almost no chance in 2019. Haven't even confirmed a bottom yet. This is so obvious that I cannot understand why ppl don't see it.

I would be very happy to see $6k again sometime next year, but I wouldn't guarantee it.

The good news is that for new buyers, current low prices will give a great 2 year return. If there were to be a further drop to say $1500, and a rise to $3000 by 2020 that gives a 100% ROI to first time buyers. It will give a boost to confidence from which a new bull market can start.

I will have to say that you are pretty close, here.   It seems that you are more pessimistic than I would like, but currently, I cannot really say that you are saying anything wrong.... especially when it comes to confirming bottom. 

A few weeks ago, there were really decent chances that the $6k territory (which was actually around $5774) could have been the bottom, but once that support had broken, and it has been ongoingly lingering in the supra $3k arena with continued and ongoing test of downward (even successful ones) that continue to bring the bottom lower - which really rises to a concern that the bottom could be a ways off.. and best case scenario would be for $3k to hold, which is probably less than a 45% chance.. sad as it is for me to admit such current short term BTC price dynamics.

[Toxic2040]

WTF?

[JayJuanGee]

I have to disagree. That trendline needs to be lower, the start should be at the end of 2015.

below 3000 is not possible  https://forum.bits.media/index.php?/topic/952-%D0%BA%D1%83%D1%80%D1%81-bitcoin/&do=findComment&comment=1707986

Wait and see what happens when all the MtGox Bitcoins are released into the wild if the current price is hovering around $3000 / BTC.

When is that coin release going to happen?  

Probably not going to change anything significantly when the MtGox coins are released to the coin owners - such release might be a bullish event.

How? Unless they got dollars they won't be buying extra coins as a result of the release, but will have coins of which some will probably be sold due to the amount of people involved.

Let them sell.  So what?

Part of the idea of bullishness is that when GOX people get their coins, they are going to have control over the coins, and that is bullish.... Coins were tied up, and now they have them.

A vast number of Gox investors (traders) are not naive nor novices, and they have been in the bitcoin scene since 2011, 2012 and 2013.

You believe that GOX investors have been sitting on their hands for 5 years just waiting for their only coins?  Bullshit... There may be a few that fit that category; however, more likely, a large number of them are likely hedged in various ways, and yeah, again, some are going to sell, but they are likely stupid to sell if BTC is still in a similar place (price wise) as it is now.. Let's just assume BTC prices are in the $2k to $5k arena, it may be a profit for them, since their coins were acquired in the sub $1k territory, but there is also some windfall coming here, too... and if some chose to sell, so what?

[babanana]

I'm prepared to buy all the way down. I will not begin until we reach the next resistance area around $2,700ish.

I have this nagging feeling that selling to a long standing order is being avoided by the market seller.

Mine are still standing. Funny looking at some of my orders almost reached by the last dumping attempt.

[JayJuanGee]

A bear market is when the price of an investment falls over time. It begins after prices have fallen 20 percent or more from their 52-week high.
https://www.thebalance.com/what-is-a-bear-market-difference-from-a-bull-3305814

Bear market versus market correction
A market correction is a period in which stock prices drop following a period of higher prices. The idea behind a correction is that because prices rose higher than they should've, falling prices serve the purpose of "correcting" the situation. One major difference between a bear market and a market correction is the extent to which prices fall. Bear markets occur when stock prices drop 20% or more, whereas corrections typically involve price drops around 10%. Furthermore, market corrections tend to last less than two months, whereas bear markets last two months or longer.
https://www.fool.com/knowledge-center/bear-market.aspx


bear mar·ket
/ˈˌbe(ə)r ˈmärkət/Submit
nounSTOCK MARKET
noun: bear market; plural noun: bear markets
a market in which prices are falling, encouraging selling.
Google.com search


Bear market
A bear market is a general decline in the stock market over a period of time.[9] It is a transition from high investor optimism to widespread investor fear and pessimism. According to The Vanguard Group, "While there's no agreed-upon definition of a bear market, one generally accepted measure is a price decline of 20% or more over at least a two-month period."[10]

A smaller decline of 10 to 20% is considered a correction. Once a market enters correction or bear market territory, it isn't considered to have exited that territory until a new high is reached
https://en.wikipedia.org/wiki/Market_trend

You can use technical definitions all that you like, but such technical definitions are not going to give you a very accurate place regarding the starting point, if the price went up 78x in 2 years (starting from about $250 in about October 2015 to December 2017) and even nearly 8x from about $2,500 to $19,666 in the most recent exorbitant rise of the last 4 months (from August to December) of that bull run.

Part of my reason for not conceding bear market until after breaking support below $6k, but in any case, calling the market is certainly a lagging indicator, because we are likely to also not know when we are in a bull market either, until we are in it for 6 months or more.

[JayJuanGee]

WeeeeEEEe = noise

The pig picture in the train was funny though..   similar to the troll looking folks (seemingly some of us) in the HODLGANG train.

[JayJuanGee]

I wasn't around in 2011.  Can you tell us more about what it was like?

My brain is frazzled and running on caffeine. Here are some loosely organized thoughts:

I started GPU mining around May 2011. BTC bubbled to ~$32 somewhere thereabouts (June-July?) and then collapsed to ~$2. The bear market was swift and brutal.

There was practically no infrastructure or major investment, aside from early ASICs that would soon come online. Hell, Roger Ver's memorydealers.com was one of the few places you could even spend bitcoins. Mt. Gox was basically the only exchange, of course.

Home GPU miners like me were a major part of the ecosystem, and we were purged at this time, as decreasing prices and skyrocketing difficulty soon made mining unprofitable. There was a sort of loss of innocence as we were wiped out and large industrial mining farms took over.

The overall feeling was similar to other bear markets - agony, despair, etc. However, many of us took to heart the rumors of bitcoin's demise. It seemed likely that bitcoin would, at best, remain something of a hobby for cypherpunks. OTOH, the despair was different. It was more about the loss of a dream, and less about the loss of money. Since BTC was so cheap, most people only had like a few grand invested, at most. Unlike Dec. 2017-18 when even the shoeshine boy lost $100K+.

                                                     

very good summary. 

In terms of the current lower price I think of things this way. Back in say Feb 2016 the price was $1612. It was just 8% of the later ATH. Imagine if the ATH had happened some time before feb 2016 then we would have dropped some 92% at Feb 2016.   Would we have been as "happy" at $1612 as we were in reality or crying doom. Transfer that to today and if we end up at $1612 or somewhere close just see it as  a very flat period since feb 2016 (ie ignore the boom/bust bit). We 'survived' a long flat period at around $250 and did not think the world would end.  Just HODL even at some very low figure - it will pull away at some point in the next few years and you can cash out with healthy profits if you do not want to go through yet another cycle though to date regularly and slowly buying and HODL has been very good to those that practice it. Even those that have been "caught" buying in old bubbles (eg $31 , $1000 ) as still quids in.   It may take a few years but even buying at $20,000 in 2017 will seem a great deal.                                                                                                                                          

Even though I believe that i understand your overall point, and that is buying BTC at any time will provide long term BTC profits, as long as the buyer is a holder on a long enough time line - perhaps greater than 5 years?

Regarding your reference to February 2016?  I think that you are referring to some other time line, especially if you are referring to a $1,612 price?   

In February 2016, BTC prices were largely stuck in a $350 to $450 range until about end of May 2016 when BTC prices broke back above $500.
 

Between about January 2017 and May 2017, BTC prices were breaking above the previous ATH of $1,163 from more than 3 years earlier, but anyhow BTC is not really leaving these various extreme kinds of volatility - not yet.

[Elwar]

I'm prepared to buy all the way down. I will not begin until we reach the next resistance area around $2,700ish.

I did a test buy at $3300 to see if my bank would allow it.

Then another slightly larger test as it was coming back up.

Will buy more as it bounces around that number.

[nutildah]

Original caption was something along the likes of, "you know you fucked up when people who are usually busy killing each other all come together to kill you."



Blood in the streets confirmed. Feeling bullish.

[bitebits]

I'm prepared to buy all the way down. I will not begin until we reach the next resistance area around $2,700ish.

i will jump in if we reach 1.5 k  

You greedy f*cks  , I will make sure to grab some right infofront of you.

[jojo69]

Just got back from Tengger Cavalry, absolutely off the hook, can recommend without reservation.

[El duderino_]

via Imgflip Meme Generator

Made this sweater with last Christmas ..... ordered a NEW one, but still waiting for it

[El duderino_]

I do remember the time BTC doubled every (i don’t know exactly anymore ....  weeks months )the price

Bring us back there

If becoin is right we are gonna Double in a few weeks

[Majormax]

...  It seems that you are more pessimistic than I would like....

I am more pessimistic than I would like.

However, I always try to edit out my own wishful optimism and focus on an unbiased objective view.


I always did the same thing in stock trading forums etc..  The odd thing is, my actual trading is more optimistic, and I tend to hold back in hope and compromise a little, rather than fully carry out the hard realistic trades. When I look back at my own posts I usually wish I had followed my own advice more closely.

Its kind of like I am second-guessing myself, or splitting my personality. Seems to generate profit in practice, over the long term. Hopefully I'm still sane.

I wonder if any other posters recognise that method in themselves ?

[El duderino_]

https://twitter.com/ilovecrypt0/status/1071981681282822144?s=21


Haha

[Last of the V8s]

Teaching the controversy with 'Blue Passportses'
https://twitter.com/Independent/status/1072054691826204673

[LFC_Bitcoin]

Good morning gentlemen!

Here’s to a productive week & hopefully a ‘green week’ for the bitcoin price.

[Lambie Slayer]

Good morning Bitcoinland.

Nice to see that today's sideways has an upward slope to it... currently $3647USD/$4860CAD (Bitcoinaverage).

Glad I bought while the price was down.

Jimbo earnestly and sincerely telling us all to go fuck ourselves would also really help. Our families are waiting in desperate need so please do the right thing sirs.

That's a tough one. How about if I just tell all the crybabies, trolls, altcoiners, negative Nellies, Bitcoin haters, permabears, racists/misogenists, etc to go fuck themselves. Will that do?

Jimbo good sir. I know its tough, but think of our families please. Telling the bad guys to fuck themselves nice and proper while posting Carolina memes and rocket pics is how you end a bull market. Telling hat wearing Bitcoin hodler cheerleaders to fuck off after years of telling them all good morning though will bring us true capitulation if Goose will post the pinto beans meal. You can always say you were kidding once the huge green dildo and epic volume comes. JJG has already made his sacrifice with a short post where he didnt use the word "seemingly" even one time. and we all know Searing is on the verge of capitulating the next big red dildo he sees. Roach is building his confidence and the next leg down he will surely talk to a girl after six years of silence. Its up to you, but Im afraid the bottom wont be in until you do this for us.


THIS IS WHAT YOU HAVE BEEN WAITING FOR JIMBO
 
BE THE ONE WE NEED

TELL THE BITCOIN CHEERLEADERS TO FUCK THEMSELVES

SAVE THE WORLD (our families)


https://www.youtube.com/watch?v=LC5Ma3SFogA


Edit: I see Goose was kind enough to help save our families and post a pic of inexpensive fast food with no gf present. Jimbo, its in your hands more than ever now.

[empowering]

Should be an interesting week