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

[JayJuanGee]

The whole forum is quiet lately isn’t it. I miss the busy days of bull runs
Gifs, memes, happy WO bro’s popping champagne, patting each other on the back. Maaaaan, we need to enjoy the next bull run a lot more.

Never been a WO world like that.  Always various trolls.. remember Notlambchop, and billyjoelallen and jstolfi, and many many more, and it seemed that their posts had decent resonance..  but of course, when we were going from about $4k to $10k to $19,666, mouths were so wide open and talking about buying islands and quitting jobs that only few of the negative comments were coming through and largely ignored, even though sooner or later they were going to be correct about the  top being "in" even while it took them all the way from $3k to $19k before they were finally converted into supposed geniuses.

[STT]

So they were longer wrong then they were right, just betting against themselves would have been the more profitable route.   I'm not sure how that can be declared correct if you were more often wrong.   Thats like declaring a clock still good because the hands show the time right twice a day :p  

Price didnt even go close to the 50 day average like I thought it might.   Its back above 8 day also and looking respective to Feb its kept its trend of rising lows which is pretty bullish despite the apparent weakness shorter term its still holding good.  The high right now is about the same weekly closing high since November 26, so its significant .   4123 is the line in the sand I guess, its always closed the week below there and theres no doubt shorts will once again use that as a backstop for a negative trade

[JL0]

Do You guys think Bitcoin Is Going Below $2k?
Tony Vay's and Tyler........... they all say that we gonna see $1-2K this Year.

[JayJuanGee]

The next 24 hours are critical.. that's for sure, and asking why is not part of "critical" assessments.  

For once that statement typed here is true!

Can we stay above 4k or will we slip under it & go back to $3,8xx & start a run up to test resistance AGAIN.....

well...I made my 'mental bet' in a previous post...I think the price (hope I'm dead wrong) that due to mt. gox dumping 1.25 billion or so USD worth of bitcoin...supposedly May 2019.

Maybe that is where you are going wrong?  Distributing is not the same as "dumping."  You should know that.

..the price will continue to go sideways (if lucky) from 3.9k to 4.1k as it has, till that shoe drops.

Could happen that way.. and could be a coincidence too that sideways happens.

Tossing it out there, so if an epic pump instead on these dark thoughts come to pass, at least everyone can give me crap about this...

if I'm right, it will be like cousin's kissing..no one will ever talk about it.

yeah... let's do the kissing cousin's scenario.. that's better.   

[JayJuanGee]

This is no joking matter JJG. It's pure, vile treachery.

 I hope he's preparing himself for that game of Roshambo we're going to be playing at the $100k party.

 I've been preparing for most of my adult life.

He is pushing his luck - and it is Thursday tomorrow... 

People who speak such evil things must be taught how treachery is seen by fine, upstanding and honourable gentlemen who wear their hats with pride.

What is life without a little dice rolling, here and there? 

[Last of the V8s]

stfu traitor ^  

Do You guys think Bitcoin Is Going Below $2k?
Tony Vay's and Tyler........... they all say that we gonna see $1-2K this Year.

I heard Tone had changed his mind and now thinks the bottom is in. I don't follow because he's not a trader, he lives off subs and referrals. Iffy.
Tyler Jenks is similarly iffy, perhaps more. https://twitter.com/CRNBTC/status/1104906339728408576
There's about 4% chance of seeing sub 2k this year (barring flash crash shenanigans), and not much more chance of seeing it ever.

[jojo69]

Mic out to HODLnest, JoJo to take over and jjg to STFU (from now Then)
Btc on the pump
Thursday starting good !!!

Accelerate engines please

all ahead full

[JayJuanGee]

This is no joking matter JJG. It's pure, vile treachery.

 I hope he's preparing himself for that game of Roshambo we're going to be playing at the $100k party.

 I've been preparing for most of my adult life.

He is pushing his luck - and it is Thursday tomorrow...  

People who speak such evil things must be taught how treachery is seen by fine, upstanding and honourable gentlemen who wear their hats with pride.

^
so only 38minutes till.........

had a whole team of micpeeps working on that one JJG    

Yeah?  Surly, your team is engaged in "god-like work" - and to be rewarded for their contributions.

[HairyMaclairy]

Do You guys think Bitcoin Is Going Below $2k?
Tony Vay's and Tyler........... they all say that we gonna see $1-2K this Year.

They are both wrong, because their models are based on a flawed understanding of the markets.  

[mrdeposit]

Sytem is down.
Bitcoin?
Chop-chop
Waiting for good news.
Hope it will worth the time.
 

[HairyMaclairy]

So we have a bit of a replay of $6k here.  Except this time we are going through.

Context showing how we channelled between these bear lines at $6k, before ultimately breaking down.  1 Day chart.



This is us channelling through the same bear lines at $4k.  Except this time momentum is on our side and we wont break down although we can expect some bouncing around. 4 hour chart.  



So the next 48 hours aren't critical, but its well worth watching the show.  

[JayJuanGee]

So the next 48 hours aren't critical, but its well worth watching the show.  

You are no fun.   

[jojo69]

[HairyMaclairy]

Bitmex lightning routing economics paper

https://blog.bitmex.com/the-lightning-network-part-2-routing-fee-economics/

[Danslip]

Hard to say something.
Historic recurrence.

[Tzupy]

...
well...I made my 'mental bet' in a previous post...I think the price (hope I'm dead wrong) that due to mt. gox dumping 1.25 billion or so USD worth of bitcoin...supposedly May 2019.

Maybe that is where you are going wrong?  Distributing is not the same as "dumping."  You should know that.
...

There are issues with both of your statements. MtGox has only 141,686 BTC left, so nowhere near 1.25 billion $ at current prices.
Distribution has no chance to happen in May 2019, because of the Coinlab claim, of about 16 billion $ (previously 75 million $).
MtGox Trustee Kobayashi may have to sell (dump) a lot of BTC, if the Court will decide in Coinlab's favor (claim was rejected by Kobayashi), but this is unlikely.

[JayJuanGee]

...
well...I made my 'mental bet' in a previous post...I think the price (hope I'm dead wrong) that due to mt. gox dumping 1.25 billion or so USD worth of bitcoin...supposedly May 2019.

Maybe that is where you are going wrong?  Distributing is not the same as "dumping."  You should know that.
...

There are issues with both of your statements. MtGox has only 141,686 BTC left, so nowhere near 1.25 billion $ at current prices.
Distribution has no chance to happen in May 2019, because of the Coinlab claim, of about 16 billion $ (previously 75 million $).
MtGox Trustee Kobayashi may have to sell (dump) a lot of BTC, if the Court will decide in Coinlab's favor (claim was rejected by Kobayashi), but this is unlikely.

That is a fair characterization (and status update).  I do recall reading the creditor minutes, or something like that (or maybe it was your comments in another thread) that Kobayashi seems to be a bit anxious in terms of wanting to dump a certain amount of additional BTC.. just to feel more insured against possible future BTC downside volatility.

So, I was not saying that dumping was out of the question, but just concerned that Searing's seeming expectation of a distribution in May 2019 (even if that is unlikely too, as you stated), would not necessarily result in a BTC "dumping" as he had implied as a kind of current uncertainty that is hanging over bitcoin and causing it to price-move sideways.

[HairyMaclairy]

...
well...I made my 'mental bet' in a previous post...I think the price (hope I'm dead wrong) that due to mt. gox dumping 1.25 billion or so USD worth of bitcoin...supposedly May 2019.

Maybe that is where you are going wrong?  Distributing is not the same as "dumping."  You should know that.
...

There are issues with both of your statements. MtGox has only 141,686 BTC left, so nowhere near 1.25 billion $ at current prices.
Distribution has no chance to happen in May 2019, because of the Coinlab claim, of about 16 billion $ (previously 75 million $).
MtGox Trustee Kobayashi may have to sell (dump) a lot of BTC, if the Court will decide in Coinlab's favor (claim was rejected by Kobayashi), but this is unlikely.

The Coinlab claim is a joke. It is only a matter of time before the judge tells them to go jump.  The primary purpose of the Coinlab claim is to scare Mt Gox claimants to sell their rights for pennies on the dollar.  Be a shame to wait this long and give up now for pennies.

[HairyMaclairy]

Next Mt Gox Creditors meeting is in October 2019...




This is going to take years more at that pace.

https://www.mtgox.com

[xhomerx10]

Improving on the legacy Bitcoin model

Please don't denigrate Bitcoin.  Panera "bagels"  are simply over-baked bread rings so slicing it like bread is a no-brainer.   They're like the BitcoinSV of bagels.