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

[JayJuanGee]

How far will it drop..

I recognize that you are playing optical illusions with us, Paashaas....

Yet, I would still like to assert that many of us regular WO observers likely realize that FUD tends to exacerbate already underlying market momentum, and bitcoin tends to go in directions that are NOT frequently expected, yet there are still reasonable expectations regarding interesting price points that might be reasonable to address and/or revisit - even if the BTC price does not make it to such price points or shoots beyond such price points.

Accordingly, I consider a retest of $4,200 to be within reason, and perhaps even with greater than 55% chances of happening.  I am 50/50 regarding whether we are ever going to see below $3,700 again.   If we do in fact go below $3,700 then retesting of $3,122 would become quite likely with even decent odds of a spike below that price point to make V8 our new legendary hero.... to dethrone HM off of his current high horse.... hahahahahahaha      

By the way, I would prefer that Hairy wins such "bet," but a spike below $3,122 does not seem out of the question, even if it is only about 50%, if not less.

[sheenshane]

Not only just strong hand, it is the perfect time to bag bitcoin.



After this short correction, maybe it will resume up towards resistance of bitcoin price and probably fueling into skyrocket. #HODL & BUY.

[VB1001]

GAB Forks BRAVE, Adding Bitcoin Lightning for a new Free Speech Browser.

Bitcoin Lightning Integration

Instead of using BAT for rewarding websites and individuals (regardless of proof of ownership), Torba will instead work towards an integration of the Dissenter web browser and the Bitcoin Lightning Network.

https://bitcoinist.com/brave-browser-gab-bitcoin-lightning/

Browser war, this will be fun.

[MrFreeRoMan]

People said telegram  

There's rumour of India banning crypto. Hope this is fake news.

Hundreds of democratic countries allow crypto.

As an Indian, I use crypto & I'm not a criminal. Plz listen to the people.

RT this, we need to stay united!

#IndiaWantsCrypto

Did anyone confirm the news?

Another news
 https://easypaidbd.com cryptocurrency buy and sell site Bangladesh this site shut down by Cyber Police.

this day a sad day for Bangladeshi Bitcoin lover.

India
The government of India stated in early 2018 that cryptocurrencies such as bitcoin are not legal
tender in India. While the government has not yet enacted a regulatory framework for
cryptocurrencies, the Reserve Bank of India (RBI) has advised caution on their use and has
issued three notifications that “cautioned users, holders and traders on the risk of these
currencies and clarified that it has not given any licence or authorisation to any entity or company
to operate such schemes or deals.”
Most recently, on April 6, 2018, the RBI issued a notification prohibiting banks, lenders and other
regulated financial institutions from “dealing with virtual currencies,” which stipulated that “n
view of the associated risks, it has been decided that, with immediate effect, entities regulated by
the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in
dealing with or settling VCs. Such services include maintaining accounts, registering, trading,
settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening
accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to
purchase/ sale of VCs.” Moreover, the RBI stated that “[r]egulated entities which already
provide such services shall exit the relationship within three months from the date of this
circular.” However, Deputy Governor B.P. Kanungo, in a policy press conference, did
“recognize that the blockchain technology or the distributed ledger technology that lies beneath
the virtual currencies has potential benefits for financial inclusion and enhancing the efficiency of
the financial system” and stated that the RBI has “constituted an inter-departmental committee in
Reserve Bank of India who will produce a report and they will explore the feasibility and
desirability of issuing a digital currency by the central bank.

Regulation of Cryptocurrency Around the World

[JayJuanGee]

Are cheap coins coming?

C'mon send them faster. If we ever see $3xxx levels, I am going to buy another full piece. No DCA'ing, one big straight bullet from $3k to 1btc. (technically that's a DCA too actually)

I gotta (at least) reach my second target (double digits) before the next halving.

I appreciate your ideas of: 1) dollar cost averaging in such a way that you are regularly buying and attempting to strategize some of your BTC buys upon nearly inevitable dips that are likely to happen from time to time, and 2) continuing to monitor your BTC accumulation goals and even tweaking the goal to the extent reasonably within your means - hopefully, without stretching your finances too much (in a kind of gambling way).

I know that I said this before, but I remain a little bit unnerved with the extent that you seem to expressing "wishes for down."  In my view, in bitcoin, a decent amount of DOWN moves play out in a nearly inevitable way, so there seems to be little to no reason to root for such BTC price direction - even if you have every intention to take advantage of the most DOWN of which you are capable.

Are cheap coins coming?

C'mon send them faster. If we ever see $3xxx levels, I am going to buy another full piece. No DCA'ing, one big straight bullet from $3k to 1btc. (technically that's a DCA too actually)

I gotta (at least) reach my second target (double digits) before the next halving.

Nah I'd rather that not happen, you can pinch your pennies and buy one at 5k

Seems that Mindrust has been buying all along, and I am fairly certain that he has acquired a decent amount of coins in the $5k and $4k price areas, so in that regard, there seems to be no real problem either attempting to maximize his BTC buy price - even if it is just for one coin - even if BTC prices end up never dipping back down into the sub $4ks again...

I personally still believe that currently there are greater than 50% chances that BTC will at least experience a quickie sub $4k dip... so if mindrust is prepared to buy around that area (depending on how the price dynamics play out), then the current odds don't seem to be out of the realm of reasonable.

[Paashaas]

How far will it drop..

I recognize that you are playing optical illusions with us, Paashaas....

I can assure you JayJuanGee i don't waste my time trolling the WO.

Look more closely.

You will love to see this graph going rock-bottom, it means Bitcoin achieved total domination.

[MrFreeRoMan]

Seems that scaling is really sexy

Reorgs here btw https://bitsonline.com/blockchain-re-orgs-bitcoin-security/

I was shocked by this word "Orphans"!
Since I myself ORPHAN since 7 years! I do not like this word, in all its manifestations!

[JayJuanGee]

How far will it drop..

I recognize that you are playing optical illusions with us, Paashaas....

I can assure you JayJuanGee i don't waste my time trolling the WO.

Look more closely.

You will love to see this graph going rock-bottom, it means Bitcoin achieved total domination.

I understand your point, and I was just acknowledging that your chart was a kind of optical illusion based on what we are used to measuring on the y axis.  I never intended that you were trolling us, because you make a very good point.  I was merely wanting to acknowledge your point and use your post as a bouncing off place for me to make my own, perhaps, quasi-related point.

[JSRAW]

People said telegram  

There's rumour of India banning crypto. Hope this is fake news.

Hundreds of democratic countries allow crypto.

As an Indian, I use crypto & I'm not a criminal. Plz listen to the people.

RT this, we need to stay united!

#IndiaWantsCrypto

Did anyone confirm the news?

Another news
 https://easypaidbd.com cryptocurrency buy and sell site Bangladesh this site shut down by Cyber Police.

this day a sad day for Bangladeshi Bitcoin lover.

Who gives a fuck, India must have an extremely low amount of volume except for a few rich users who just go around the laws anyway.

Yeah very low amount ! still ranks 11 in trade volume despite hiccups.

arguably 90% bitcoiner are techy here in India and then 10% are like me who just got lucky to get in on right time.

99% people in my desi crypto circle are Software Engineers and developers.

@Retina What confirmation you want bro?

India trying to ban Beef and Triple Talaq not Bitcoin and there will be no ban on BTC by Indian Gov in near future, case is pending in court tho. According to Indian Gov Btc or crypto is not legal tender.


Update : @Retina may be you were talking about this news?

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/amp/

We are listening this kind of news for last 1.5 years and I personally don't care if Gov bans the Bitcoin.

[MrFreeRoMan]

Not only just strong hand, it is the perfect time to bag bitcoin.



After this short correction, maybe it will resume up towards resistance of bitcoin price and probably fueling into skyrocket. #HODL & BUY.

BTC/USD, 4-Hour Chart

While Bitcoin fell below its recent swing high, triggering a short-term sell signal yesterday, the coin managed to hold up above the $5050 support, leaving the hope for another higher alive. That said, given the broad weakness in the market and the weak post-crash bounce, traders shouldn’t enter new positions here, especially in light of the still bearish long-term setup.

The $5400 level remains the line-in-the-sand resistance regarding the short-term outlook, while a dip below the initial support zone would likely open up the way towards $4850 and $4450. Further support zones are found near $4200 and between $4000 and $4050, while above $5400 the next resistance zone is ahead near $5850.
Bitfinex Scandal Triggers Crash

[JayJuanGee]

https://i.imgur.com/57hjiik.png

Hey... that is a nice mix of random and artistically placed paint.   

[nanobtc]

More Gox delay?   https://bitcoinist.com/mt-gox-coins-wont-move-until-2020-as-payout-delayed-6-months/

[JayJuanGee]

They will not calm down!
How do you like the news on BitcoinSV?

CoinGeek Sponsors Ayr United Football Club

As per the Reuters report on Thursday, Bitcoin SV will sponsor Ayr United for the rest of the current season, as well as the whole of the next season. Founder of CoinGeek, and well known Bitcoin SV advocate Calvin Ayre said this was part of a move to educate people about the ‘original Bitcoin’:

“There is an education underway explaining to both the media and everyday folk that BSV is, in fact, the original Bitcoin. People have heard of Bitcoin but don’t yet understand that BSV is the only blockchain following Bitcoin’s original design.”

Bitcoin SV the emperors new clothes?  

Seems that scaling is really sexy

Reorgs here btw https://bitsonline.com/blockchain-re-orgs-bitcoin-security/

That seems to be a decent article, hv_ - except to the extent that there are implications that bcash sv is some variation of bitcoin, merely because that bcash variant strives to confuse people into some kind of belief that it is a bitcoin variant...

Otherwise, the discussion of reorgs does touch upon some decent points.

[madnessteat]

Recently shared this information in Russian locale. I will share with you. An interesting visualization has been published on Twitter of the cryptocurrency data analytics platform DataLight, which demonstrates the change in the capitalization of the top 10 cryptocurrencies in an accelerated mode (from 2013 to 2019). I think that many users will be interested to watch the 6-year changes after spending only 1.5 minutes.


Just today I saw that they presented us with a new analytical tool. I did not notice how the hour passed while I was getting acquainted with this tool.

[Toxic2040]

[HairyMaclairy]

Seems that scaling is really sexy

Reorgs here btw https://bitsonline.com/blockchain-re-orgs-bitcoin-security/

I was shocked by this word "Orphans"!
Since I myself ORPHAN since 7 years! I do not like this word, in all its manifestations!

Very sorry to hear that - you have our sympathies.

[HairyMaclairy]

The latest wobble is just that in fractal terms.  We are still way ahead of schedule

[Toxic2040]

http://research.circle.com/wp-content/uploads/2019/04/Circle-Research-1Q19-Retrospective-1.pdf

#dyor

[Raja_MBZ]

Crossing $5500 once again, this could be a bad fakeout. IMO, if the daily candle closes in red, there's a big chance that we follow this path:



However, if BTC manages to close today's daily candle in green, it'll be interesting and (arguably) wild from bulls.

"Told you so"...

[DaRude]

Finex showing $6.746MM in 30 day volume, assuming 0,2% fee that $13,5MM they make in fees each month. And that doesn't include money they make on lending or interest on their stash. Tether market cap is $2.847MM NY OAG claims they lost $850MM (of their own and clients money) so 30% of all Tether max, i'm sure they'll survive *unless more shit comes up

Hmm... I don't think their liquidity will be doing well - looking at the price increase, people are dumping Tether to buy BTC and presumably trying to get out.

Also - not all clients will be paying 0.2% - so income may be lower and expenses are not zero, either.  Filling a hole of many hundreds of millions cannot be done without years of all that income going into replace 'lost' capital.

As GentlemanD said, the irony is Tether WAS backed up until they lost this large chunk of funds.  However, getting any new banking partner now will be nigh-on impossible.

Finex are in deep shit and probably in a total spin.  Maybe a death spiral.  Since they are (basically) profitable, I would think their best bet might be to try to find someone to buy 'em who does have banking sorted out and can float capital in to save the day. But who they gonna call..?  

Only a couple of candidates exist - and they might think the brand is too toxic.  Even at a sale price of $1, which is the likely price for Finex with a hole in the hundreds of millions of USD and a legal case on their back.

A bank could do it, but even if it makes financial sense, I can't see them risking running a crypto exchange.  Coinbase? Anyone else...?  With fast action needed and no time to do proper due diligence?  Doubt it.

First, Finex need to keep their customers to survive for long enough to find a solution.  

The chances of doing this with the run for the door already well underway is slim and all the Tethers coming back for redemption won't help.  But it's their only hope.

The Irony is that it was TPTB blocking them from reputable institutions to hold their reserves is what forced them to deal with a scam bank that ripped them off.

Almost like it was a plan.

ADDED:
Shit can't catch up today, gotta check out and I'm hitting the hottub rather than read this thread!

The irony of that Finex makes even more money on higher volumes. If maker and taker both trade under $500k/m Finex's fees are 0,3% in fact both sides must trade over $10MM/m for Finex's fees to drop to 0,18% so i think 0,2% is a pretty conservative estimate and the average is probably closer to 0,25% (both sides volume is under $2,5MM/m).

As long as they have the rest of the money they can cash out Tethers at a discount reducing their liability. I'm also having a hard time believing that a bank lost all of $850MM, you don't fuck with USD without the whole board going to jail.

Everyone knew that tether was a ticking time bomb and just a vehicle for gamblers to pump shitcoins by reducing friction of transfering in USD. That's why you see shitcoins dumping more than BTC. Finex should've invested in opening their own legit crypto friendly bank instead of killing the golden goose with tether. Oh well, still over $5k BTC holders are not affected, both tether holders and shitcoins holders will run for safety of BTC, just more negative publicity.