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

[Totscha]

Hey nerds, Bitcoin is pretty much dead. Because some teen crypto kiddie says so.

https://www.marketwatch.com/story/bitcoin-is-pretty-much-dead-says-teenage-crypto-phenom-2018-12-14?siteid=yhoof2&yptr=yahoo

I love how MarketWatch is now interviewing 13 year olds for their investing advice. Keeping it classy and professional there, MW? Mmm hmm

Yeah, it's over folks... But on the other hand we have BCH which "has great technology but the developers have done a bad job at marketing it".

I am kind of disappointed he forgot to mention XRP with its awesome features in his picks of the crypto-currencies with best chances of success.

[bitserve]

....So, during the bear market, employ your time opening accounts in as many exchanges as you can, verify as needed, learn their UI, etc... During a bull market things happen very fast, and chances are that you won't be able to use that exchange you need to trade some fork/altcoin or use for fiat withdrawal if you have not done your homework well in advance.....

This is great advice.

The bear market will be long and tough to endure, and this is just the sort of work that will be making progress, instead of anxiously watching falling or stagnant prices.

Verification can often be a long process. It is also useful to be familiar with the rules of the exchanges and businesses you deal with.

Yup, and during a bull run is way longer if they are not simply collapsed. Also, for withdrawals, it is also useful THEY know you. And the best for that is having made some deposit to them in the past (and what better moment to do that than in a bear market?).

Exchanges do not like people coming out of nowhere and pretending to withdraw huge amounts of money.

Yea, that is good advice for someone starting out. Bear markets are good for getting your infrastructure set up with exchanges etc. I sold some btc back in the first quarter and I had to go through a whole process explaining where it came from. Everything worked out fine , but definitely take advantage of this time to get set up.

I would appreciate advice on what sort of proofs/documents did they request you to "explain where it came from". It might get handy to get them all ready in advance.

In my case I sold some crypto to Gold Money to get USD. When I did , they asked for proof where I acquired the BTC. In my case it was ok to show proof of mining. I had old KNC and Bitmain receipts. Which they accepted. I also showed proof that I had a Bitstamp account going back to 2013. This was sufficient, although I could have shown more. They were then satisfied.

So they basically just want some little excuse and not the whole chain of custody since you bought your coins, right?

I guess in my case they would accept the bank receipts of the transfers I made to Bitstamp and Kraken since years ago....

[bitserve]

I would appreciate advice on what sort of proofs/documents did they request you to "explain where it came from". It might get handy to get them all ready in advance.

From my experience it was just screenshots of my exchange accounts. It may be different for each person though.

Screenshots of what? I mean, the deposits? The trades? The withdrawals?

It is because you sent the funds directly from one exchange to the other? What if you had sent from your hardware wallet instead? Hmmmm

[bkbirge]

Hey nerds, Bitcoin is pretty much dead. Because some teen crypto kiddie says so.

https://www.marketwatch.com/story/bitcoin-is-pretty-much-dead-says-teenage-crypto-phenom-2018-12-14?siteid=yhoof2&yptr=yahoo

I love how MarketWatch is now interviewing 13 year olds for their investing advice. Keeping it classy and professional there, MW? Mmm hmm

Yeah, it's over folks... But on the other hand we have BCH which "has great technology but the developers have done a bad job at marketing it".

I am kind of disappointed he forgot to mention XRP with its awesome features in his picks of the crypto-currencies with best chances of success.

LOL, I think he owes his grandma a VC fee. Kid is very cocky. Who knows, he may be right. But I wouldn't bet the farm on his words. Hope he took that $4mil and put a nice chunk into his college fund.

[HairyMaclairy]

LOL, I think he owes his grandma a VC fee. Kid is very cocky. Who knows, he may be right. But I wouldn't bet the farm on his words. Hope he took that $4mil and put a nice chunk into his college fund.

I have seen a lot early Bitcoiners do incredibly well.   Then they think they are investment geniuses and blow the lot on shit coins and end up with bags.

[bitserve]

Looks like it wants to make another leg up.

[Toxic2040]

Noice.

I don't know IF or for how long $3000 will hodl as a hard support but from now it hasn't even been properly tested. So, for the little amounts I trade nowadays (I am mostly ALL in), I will keep reloading near $3000 and selling the bounces. Rinse and repeat.

Rinse and repeat. Rinse and repeat...

This is where you give the pole small twitches to induce a strike..

------------
Good morning hodlers.

Soft technical bounce upwards towards the 0.236 fib. Indications of a continuation of this "correction" will pierce this resistance area and look for support in the $3.45k area.
1h                                     D
   

[Febo]

Did you want some more doom charts that show contrary to people's claims, bitcoin may have already ramped up about as high as it will go, and if it does ramp up again, it would be nowhere near the idiotic numbers people claim?

Agree it might not pump to the idiotic numbers people claim in 2021. But it will pump way over the idiotic numbers people claim in 2025.

[bitserve]

Noice.

I don't know IF or for how long $3000 will hodl as a hard support but from now it hasn't even been properly tested. So, for the little amounts I trade nowadays (I am mostly ALL in), I will keep reloading near $3000 and selling the bounces. Rinse and repeat.

Rinse and repeat. Rinse and repeat...

This is where you give the pole small twitches to induce a strike...

What does that mean?

[ChinkyEyes]

LOL, I think he owes his grandma a VC fee. Kid is very cocky. Who knows, he may be right. But I wouldn't bet the farm on his words. Hope he took that $4mil and put a nice chunk into his college fund.

I have seen a lot early Bitcoiners do incredibly well. Then they think they are investment geniuses and blow the lot on shit coins and end up with bags.

This is exactly what I thought when I looked at the article and later on his instagram. I think it can happen to everyone, once you make a lot of money you are likely to become arrogant and full of yourself. I would lie if this did not effect me. I see this bearmarket as a humbling experience and a good time to reflect.

[NeuroticFish]

There were any news I've missed? Or just somebody has realized he was selling all these months when he should have been buying?  
I don't mind, but it's .. odd..

[Toxic2040]

Noice.

I don't know IF or for how long $3000 will hodl as a hard support but from now it hasn't even been properly tested. So, for the little amounts I trade nowadays (I am mostly ALL in), I will keep reloading near $3000 and selling the bounces. Rinse and repeat.

Rinse and repeat. Rinse and repeat...

This is where you give the pole small twitches to induce a strike...

What does that mean?

I dont know.  However, what I was implying is this appears to be a well orchestrated attempt to induce a fomo rally. I bought it..but I am not buying it...does that make sense? Finding solid support in this area and then continuing into the $4.2k+ range would start to convince me. This will probably be a exciting week for traders..dont get me wrong..but I am waiting for confirmation of my bias.

[ivomm]

Is this the first sign of the coming crypto Spring/Summer? Is 2019 going to be like 2015, or even better like 2017? I hope we found the doble doble bottom:

[BTCMILLIONAIRE]

Hey nerds, Bitcoin is pretty much dead. Because some teen crypto kiddie says so.

https://www.marketwatch.com/story/bitcoin-is-pretty-much-dead-says-teenage-crypto-phenom-2018-12-14?siteid=yhoof2&yptr=yahoo

I love how MarketWatch is now interviewing 13 year olds for their investing advice. Keeping it classy and professional there, MW? Mmm hmm

Yeah, it's over folks... But on the other hand we have BCH which "has great technology but the developers have done a bad job at marketing it".

I am kind of disappointed he forgot to mention XRP with its awesome features in his picks of the crypto-currencies with best chances of success.

LOL, I think he owes his grandma a VC fee. Kid is very cocky. Who knows, he may be right. But I wouldn't bet the farm on his words. Hope he took that $4mil and put a nice chunk into his college fund.

Come on, he's not like the nerds and knows how to play the system! He doesn't need college, he's already set! /s

[BTCMILLIONAIRE]

LOL, I think he owes his grandma a VC fee. Kid is very cocky. Who knows, he may be right. But I wouldn't bet the farm on his words. Hope he took that $4mil and put a nice chunk into his college fund.

I have seen a lot early Bitcoiners do incredibly well.   Then they think they are investment geniuses and blow the lot on shit coins and end up with bags.

I bought a lottery ticket once and won the jackpot. I'm also opening a hedge fund next, 50% on-board and 50% success fee. First come first serve.

[xhomerx10]

Hey nerds, Bitcoin is pretty much dead. Because some teen crypto kiddie says so.

https://www.marketwatch.com/story/bitcoin-is-pretty-much-dead-says-teenage-crypto-phenom-2018-12-14?siteid=yhoof2&yptr=yahoo

I love how MarketWatch is now interviewing 13 year olds for their investing advice. Keeping it classy and professional there, MW? Mmm hmm. I've got a 7 year old niece they should interview next.

   I hate the way the story is sold where this kid buys Bitcoin with a $1000 gift from his grandma and it made him rich because... well it's not true.  This kid has intelligence and initiative; Bitcoin was the vehicle on his road to success.

An excerpt from http://nymag.com/intelligencer/2014/12/bitcoin-boy-erik-finman.html

"The Finman brothers are close and also extremely competitive with each other. When Scott, in early 2013, told Erik about the digital currency bitcoin, and said he’d bought 50 of them, Erik decided to spend the $1,000 he’d just received from his grandmother to buy a hundred...
...Ohanian was a fad. So they said no. Erik was undeterred. When he read that the price of a bitcoin had soared to $1,200, he decided to sell his for $100,000, and got his evening with Ohanian."

 What's even more odd is that other stories tell of Erik Finman as a 12 year old buying $1000 worth of Bitcoin in 2011

An excerpt from https://www.cnbc.com/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html

"Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott."

An excerpt from https://www.neowin.net/news/a-12-year-old-kid-from-idaho-turned-a-1000-bitcoin-investment-into-a-million-dollars/

"Erik Finman, a teen from Idaho, has become one of the latest 'bitcoin millionaires' - someone who has a million dollars worth of bitcoins, following a $1,000 investment he made in 2011 when he was just 12 years old. When he placed the purchase, bitcoins were selling for just $12"

 Oh yeah I forgot about the bet he made with his parents about going to college... if you can believe the stories. He had a GPA of 2.1 (yeah right) - who gets into college with that kind of GPA other than top tier athletes and kids with rich alumni parents?  His story seems mostly contrived.

[serveria.com]

This time looks real? Any idea what happened? BAKKT effect?

[xhomerx10]

Noice.

I don't know IF or for how long $3000 will hodl as a hard support but from now it hasn't even been properly tested. So, for the little amounts I trade nowadays (I am mostly ALL in), I will keep reloading near $3000 and selling the bounces. Rinse and repeat.

Rinse and repeat. Rinse and repeat...

This is where you give the pole small twitches to induce a strike...

What does that mean?

 It means Toxic2040 is Huck Finn irl 

[serveria.com]

3500 here we come! Weee!

[cAPSLOCK]

No offense but you guys are gonna spook it.  You realize that?