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

[goldkingcoiner]

Are we going back down to "y house gone" prices? Merry Christmas, WO's!

[1713620539]

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[1713620539]

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[1713620539]

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[alevlaslo]

domination only grows in XRP, ETH and BCH https://coinmarketcap.com/charts/#dominance-percentage

[nutildah]

domination only grows in XRP, ETH and BCH https://coinmarketcap.com/charts/#dominance-percentage

if you replace those 3 with BTC then you are correct.

Since Jan 1st 2018:

BTC: 37.96 - 51.86, up 37%

XRP: 14.42 - 11.93, down 17%
ETH: 12.2 - 10.42, down 15%
BCH: 6.92 - 2.26, down 67%

I don't know what the BCH people were thinking honestly... "ego will lead us to salvation"?

[El duderino_]

[El duderino_]

wow late morning .......

so xmass eve is over, xmass itself will be very quiet, then the run up week to new year, then let us start the new BTC year 2019

looking forward for it

[Majormax]

When bitcoin makes a pump or a dump, the alt varies in BTCprice as well, and thats strange to me. (as your explanation (as far as i understand) states the $$ price must go up and down seems logic as the BTC value varies in $$ value. That makes sense. But why does the BTC value of the alt change so much as well?? Thats double... For instance: when BTC takes a drop of 10% in $$ value, the ALT makes adrop of 10% in $$value (logic), AND a drop of 10% in BTC value as well (unlogic),  makes a total devaluation of that coin of 20%..)

Cannot comment on specific instances, but trading goes on all the time. As far as very short timeframes go, there are bids and offers sitting on the exchanges that are hit (often by bots) when certain conditions change.

The round-robin of exchange rates often means that one change starts a cascade of trades. Obviously the more volatile alts move more.

With slightly longer times, then of course there is switching and balancing between coins. It all depends on the potential orders in each alt, which could be any amount.

[El duderino_]

A Christmas dump?

How lovely to put us in a great mood for the day.....FUCK IT (for one day).

Happy Xmas my HODL brothers & fuck you to the trolls & shills.

same man

just let the charts give us some green again.....

i had almost 0 nocoiners taking there hit on BTC @ the table last evening, i was surprised by that

[El duderino_]

Somebody ordered a Wolf of Wall Observer Morty hat

https://i.imgur.com/ns58NSa.jpg

Avatar-sized

awesome one who is it ??

[LFC_Bitcoin]

A Christmas dump?

How lovely to put us in a great mood for the day.....FUCK IT (for one day).

Happy Xmas my HODL brothers & fuck you to the trolls & shills.

same man

just let the charts give us some green again.....

i had almost 0 nocoiners taking there hit on BTC @ the table last evening, i was surprised by that

Nobody has said anything to me yet either, I am surprised. Maybe when they are a little drunk they will attack later

[Hexah]

Exactly and if you think about it 1btc is still 1 btc. Weak hands and just baggers for a bull market should perish in this sphere.

[El duderino_]

A Christmas dump?

How lovely to put us in a great mood for the day.....FUCK IT (for one day).

Happy Xmas my HODL brothers & fuck you to the trolls & shills.

same man

just let the charts give us some green again.....

i had almost 0 nocoiners taking there hit on BTC @ the table last evening, i was surprised by that

Nobody has said anything to me yet either, I am surprised. Maybe when they are a little drunk they will attack later

i'm already passed the drunkenness and all .... of that family part last night so i'm good

what will be next for the price...? another big BIG green bar up or more down ?

[dutchlincoln]

When btc gets a dump, and the same microsecond the alts get a dump as well, it cannot be people being greedy/fearful, right? it must be a coupling in some form to the mastercoin, btc?

im not saying anything about the intrinsical value of an alt itself, nor if its a good or a bad alt, but just these fluctuations intrigue me and i dont really understand...

Not sure I understand your question : the answer seems self evident :

There is trading constantly on multiple exchanges 24/7, every second of the day. The alt prices (on coinmarket cap or whatever) are based on 'last trade' for a number of exchanges. The trade is in BTC, that is converted to $$ in the quote. If BTC $ price changes, then so must the alt $ price, even if there is no further trade.

If a bid/offer is hit then the BTC price changes as well.

i appreciate the explanation, and it seems fair in regards to $$ value, but thats not what i meant, and thats also the part i dont understand.

When bitcoin makes a pump or a dump, the alt varies in BTCprice as well, and thats strange to me. (as your explanation (as far as i understand) states the $$ price must go up and down seems logic as the BTC value varies in $$ value. That makes sense. But why does the BTC value of the alt change so much as well?? Thats double... For instance: when BTC takes a drop of 10% in $$ value, the ALT makes adrop of 10% in $$value (logic), AND a drop of 10% in BTC value as well (unlogic),  makes a total devaluation of that coin of 20%..)

The user BTCMILLIONAIRE explained what could be the cause: When it is clear the BTC is in a downtrend you could get profits by shorting altcoins for fiat:

Furthermore, if there's any indicator that Bitcoin will be tanking it would be fairly easy to short alts for fiat and then rebuy alts at a cheaper per BTC rate with cheaper Bitcoins (obviously comes with elevated risks).

Basically, Bitcoin down = make double the money by shorting shitcoins. So the connection between futures tanking Bitcoin and altcoins tanking even more is crystal clear once you crunch the numbers.

thanks all, this makes sense. Complicated matter...

[Cryptotourist]

Merry Xmas!
I wish the best of health to all of you.

I know things don't look too chubby ATM & we missed the $4300 mark yesterday, but I still stand firm that the $5000 area is pretty soon inevitable.

[d_eddie]

The recent boiling of volatility has helped me reduce my positions further without a dent in my profits - actually a slight, insignificant increase. My liquidation price for the short is >70k now, while the long is in danger if the corn dives under $1.3k. Looking forward to closing everything and getting out with another ~7-8% increase in profit. Then it'll be popcorn all the way into the bullrun. Except maybe another tasty BCH short if it pulls its head higher than, say, 0.058-0.06 btc.

Merry Xmas everyone. Going to have another glass

[gembitz]

xmas drugs pump over?     weee

[d_eddie]

Ohhh gembits! Our mosquito friend!
weee choo choo, choo choo wee. We weee, choo.
(we had some volatility here, now we're mostly drunk and bickering a little.)

Where have you been? In the swamp, by your favorite xmas reed?

[xhomerx10]

Somebody ordered a Wolf of Wall Observer Morty hat

https://i.imgur.com/ns58NSa.jpg

Avatar-sized

awesome one who is it ??

BinaryReign requested it when you posted the train-full of WO hatters

[gembitz]

Ohhh gembits! Our mosquito friend!
weee choo choo, choo choo wee. We weee, choo.
(we had some volatility here, now we're mostly drunk and bickering a little.)

Where have you been? In the swamp, by your favorite xmas reed?)

yeah i let bitcoin run for a minute...    #swampthang going for the green!

[d_eddie]

Somebody ordered a Wolf of Wall Observer Morty hat

https://i.imgur.com/ns58NSa.jpg

Avatar-sized

awesome one who is it ??

BinaryReign requested it when you posted the train-full of WO hatters

The green candle background is a touch of class! I'd also like a hat with a background running out of bounds one day... maybe when I become a hero!

[d_eddie]

yeah i let bitcoin run for a minute...    #swampthang going for the green!

Hmm thanks but don't hover too close to the corn, lest she gets annoyed and swats you! Well, not on Xmas day anyway.