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

[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.

[1713402993]

1713402993

[1713402993]

1713402993

[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.

[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"...

So now it rises? I'm down with that.

We're probably going to see another two days of red-hot pain before the green-grassy bounce back.

[Toxic2040]

It wasnt technically a tweezer on 'stamp but the results are undeniable.



Support broken and entirely too bartish for my liking. Searching for support along the 0.236 fib  #dyor

#stronghands'19

The variance continues with bitfinex.

[El duderino_]

LFC on high speed

[BitcoinGirl.Club]

Good evening brothers.

Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege

https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege

[BitcoinGirl.Club]

LFC on high speed

Yap!
On fire!
1 - 0 in the first minute!