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

[Last of the V8s]

It doesn’t make any difference to me if the price goes as low as $3,122.

We are betting reputations.

[Raja_MBZ]

Good evening WO brothers. How are we doing?

Ehm... not very good:

Crypto Exchange Bithumb to Reduce Staff By Up to 50%

https://www.coindesk.com/crypto-exchange-bithumb-slashing-staff-numbers-by-up-to-50


Currently suffering from 103 degrees fever, pray for me guys!

Hope you get well soon brother. Having fever is good in a way. It's the resistance system to kill the unexpected bacteria or virus that is trying to attack us.

Wow, good to know that! I wasn't aware of that fact.

Never heard of this Bithumb exchange before. Who cares if they cut down the staff even 100% LOL

Well, Bithumb is probably the number one crypto exchange of South Korea. I remember that South Koreans were buying bitcoin at the premium rate of $25,000 each during December 2017, from Bithumb.

[shasan]

Bitcoin ANCIENT TREND WITH 100% ACCURACY?! - Crypto Trading Analysis & BTC Cryptocurrency News 2019.

Source: https://www.youtube.com/watch?v=3bib5wHwuHk

[kludzins]

meanwhile in Venezuela:

https://www3.nhk.or.jp/nhkworld/en/news/20190316_12/

[Toxic2040]

SFW?

[HairyMaclairy]

It doesn’t make any difference to me if the price goes as low as $3,122.

We are betting reputations.

Ahhhh I still win if we bounce off $3,122?

[JayJuanGee]

Regarding scenarios for adjusting your position or taking some kind of action?  I wonder what those would be.  A new bottom or something close to $3,122 might change your plan, and then I suppose if BTC prices go up too quickly, you might want to shave a bit of BTC off, too, I would think.

I might consider taking a leveraged long in 2021.  But frankly at this stage I am done with trading for the time being.*.  There is no chance of me selling and any further buys will require new money rather than recycled money, so would only dribble in at best.  


*I reserve the right to change my mind at a later date.

It is almost that you can take a break from this thread too.

Recall in the $8k arena and March/april 2018 time frame you said something very similar, but I suppose that a lot of us had already assumed that the February 2018 bottom of $6k was in, until it was not.  This time is different?  perhaps? I suppose if the bottom is really in, and BTC prices don't really go below $3,500 in the coming months, then you are going to be able to rest assured, but I suspect if BTC prices go blow $3,500 you are going to start to worry, and maybe you won't worry too much (since you already might be prepared for that), unless BTC prices go below $3,300, then it is going to begin to appear much more likely that prior support at $3,122 is going to be challenged again, and might be breached.   We will see.  We will see.

I don’t recall saying something like this in March 2018 but you may be right and I can’t be bothered going and looking so let’s just assume you are right

It doesn’t make any difference to me if the price goes as low as $3,122.  We have already been there once.  It is far more important to me to spend all my remaining fiat profits under $4k. All I care is that it starts with a $3,xxx.  A rule in trading is never hyper optimize - don’t chase the first 10% of profit in your entry and don’t chase the last 10% of profit on exit.  You will never exactly buy the bottom and never exactly sell the top.  If you try to do that (and I have tried trust me) you will just get chopped up with stops.  Sometimes you will make the perfect trade but that doesn’t make up for all the losses you take getting stopped out. 

It is far more relaxing to take a long term view and say “here is close enough, I will get on here”.   We are currently 80% down from ATH so this is close enough for an entry. 

Yes there is a chance I am wrong and have gone too early. Maybe years too early according to the “cycle lengthening gurus”.  I don’t believe their analysis but if they are right and I have badly misjudged then maybe as you suggest I will just walk away for awhile. I got caught at $700 in 2014 and walked away for two years. I know how to hold and can do it again.

On the other hand if I am right then I have been buying the bottom for the past month and that is a good thing.

That's a fair enough approach, and I am not claiming to attempt to time the bottom either, but I always try to keep some reserves for buying - including my cashflow that would be used for buying too. 

So let's say for example, I have $1,000 per month coming in and maybe $900 goes towards all of my expenses, including having a bit of a reserve for emergencies and extra entertainment costs.  I still have $100 left, and where am I going to put that extra $100 per month?  For me it goes into my BTC fund, and that money will be used for buying BTC on dips, if they happen... and from time to time, I can restructure at what price points I have my buy orders. 

For you, where does that extra $100 per month go?  Does it just build up and you hold it in dollars?  And it is kind of a non-working fund that keeps growing?  or does it go into some other kind of non-btc investment?  Over a year, that $100 per month can start to add up, and what you going to do with it?  Consumption goods?

[HairyMaclairy]

Great article on comparative order book depth here:  https://christianott.co/orderbookdepth_en/

[600watt]

What a suprise. 

This should be measured in Bitcoin and Ethereum, not in USD. And also be revisited during the next Bitcoin bull run.

still 23m too much.

[600watt]

What a suprise.  

I tried to overlay the price action, I wonder how much flowed into BTC? I think I got it right.....

Look!

very interesting! does anyone know if there is a way to determine how much money getting freshly invested in crypto goes to btc and how much goes into alts? does a 50% btc dominance hint that is about 50/50? is there a correlation?

[Last of the V8s]

Ahhhh I still win if we bounce off $3,122?

Yes and that would be the most amazing double bottom

[JayJuanGee]

It doesn’t make any difference to me if the price goes as low as $3,122.

We are betting reputations.

I just heard that Vinny Lingham and Ronnie Moas made a BTC price bet that is $20k to go to "free Ross fund" for the loser.  Their bet is going to end about two months before the bet between you two (V8 and Hairy).

If you don't know Lingham and Moas, they are a couple of OG pump and dump scam experts in their respective areas.   

Anyhow their bet goes until the end of 2019, and Lingham is betting that BTC will NOT hit $28,000 at any time before the end of 2019.  

So Lingham and Moas are betting the upper BTC price direction limitations and you two (V8 and Hairy) are betting on the lower BTC price limitations.  Let's see if the middle holds.. it is a broad price range between bets and still quite early to know.

[rebal15]

Good evening WO brothers. How are we doing?

Ehm... not very good:

Crypto Exchange Bithumb to Reduce Staff By Up to 50%

https://www.coindesk.com/crypto-exchange-bithumb-slashing-staff-numbers-by-up-to-50


Currently suffering from 103 degrees fever, pray for me guys!

Hope you get well soon brother. Having fever is good in a way. It's the resistance system to kill the unexpected bacteria or virus that is trying to attack us.

Wow, good to know that! I wasn't aware of that fact.

Never heard of this Bithumb exchange before. Who cares if they cut down the staff even 100% LOL

Well, Bithumb is probably the number one crypto exchange of South Korea. I remember that South Koreans were buying bitcoin at the premium rate of $25,000 each during December 2017, from Bithumb.

Most importantly no bad news about the public world wide exchange bitfinex.
God bless bitfinex

[shasan]

Sentscore and price calculation from August 2018 to March  2019. Below is the image.

[cAPSLOCK]

Bitcoin ANCIENT TREND WITH 100% ACCURACY?! - Crypto Trading Analysis & BTC Cryptocurrency News 2019.

Source: https://www.youtube.com/watch?v=3bib5wHwuHk

What an idiotic video.  The damn finger snapping just about made me chew my hand off.

Google trands search is an interesting metric.  I do not think it will continue to be acurate in predicting price. 

[Last of the V8s]

https://predicoin.com/ sentscore

How It Works

Access curated cryptocurrency content from Twitter, Reddit, and over one hundred news sites using the Predicoin dashboard, which also detects the sentiment of content and outputs both a news and social media indicator.

Predicoin combines the 2 sentiment indicators from news and social media with 3 additional verticals for technical analysis, coin fundamentals and buzz, resulting in the SentScore which reports a general outlook for each coin.

no no no
no



no

[shasan]

Visa (Us payment giant) is searching tech product manager of bockchain as well as crypto talent.

[HairyMaclairy]

It doesn’t make any difference to me if the price goes as low as $3,122.

We are betting reputations.

I just heard that Vinny Lingham and Ronnie Moas made a BTC price bet that is $20k to go to "free Ross fund" for the loser.  Their bet is going to end about two months before the bet between you two (V8 and Hairy).

If you don't know Lingham and Moas, they are a couple of OG pump and dump scam experts in their respective areas.  

Anyhow their bet goes until the end of 2019, and Lingham is betting that BTC will NOT hit $28,000 at any time before the end of 2019.  

So Lingham and Moas are betting the upper BTC price direction limitations and you two (V8 and Hairy) are betting on the lower BTC price limitations.  Let's see if the middle holds.. it is a broad price range between bets and still quite early to know.

I am betting up but a new ATH in 2019 is a bit silly. It doesn’t work like that.  Lingham will win even if he is a scammer.

[JayJuanGee]

It doesn’t make any difference to me if the price goes as low as $3,122.

We are betting reputations.

Ahhhh I still win if we bounce off $3,122?

I thought that you guys were referring to the previous low on Stamp, which would have been $3,122.28 (I believe), so wouldn't V8 win if it goes below $3,122.28?

Hopefully, the a dipping BTC price would not come that close  (or fall within an ambiguous $.28 range).

[HairyMaclairy]

Thank you for volunteering to act as scorekeeper and referee JJG!