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

[JimboToronto]

Good morning Bitcoinland.

I see we're hanging in going sideways in the low $7xxx range after last nights shenanigans... currently $7162USD/$9640CAD (Bitcoinaverage).

That was quite the display last night. I checked the price at Stamp when my GF got up to go to the bano just in time to see the price start to plummet.

I was stunned to see a 3.5kBTC ask wall dropped in to prevent a rebound and then to see it moved progressively lower as the price fell further. As natural upward pressures ate at the wall it gradually reduced in size until it finally was moved down to $6.2k. At that point it appeared to be eaten and the price immediately rebounded to over $7k.

At that point I had to leave the PC and reassure my GF that I still loved her and that she was more important than mere money. I did point out that losing a small fortune in a few minutes was a little distracting but getting half of it back in a few more minutes was comforting.

I've been through a few of these moments before so I wasn't too freaked out. The April 2013 crash from $266 to $50 was a shocker at the time but I didn't panic and the crash & bounce from the Silk Road bust and the later ManBearWhale episode were positively elating.

Bitcoin is definitely not boring.
___

I forgot to mention, "Oh noes! My Bitcoin is only worth what it was 4 days ago!"

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[bitserve]

@Jimbo

[edited out]

Other than that, yeah, this has not been unexpected dump/correction at all, quite on the contrary. A needed one I might add if we want to go according to the "moon" plan.

[VB1001]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

According to crypto news outlet The Block, the sell order on Bitstamp led to a liquidation of $250 million long positions on the BitMEX exchange,
which further resulted in price declines on other crypto exchanges.

As reported by crypto publication Forklog, the sell order on Bitstamp included 5,000 bitcoins sold at $6,200.
Some people in crypto community suggested that the sell order could be made by mistake, with the order’s owner having been meant to sell his bitcoin at $8,200 instead of $6,200.

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

There are more fools outside than inside.

[bitserve]

It doesn't matter the size of the dump, what really matters is the size of the bounce.

[JimboToronto]

Other than that, yeah, this has not been unexpected dump/correction at all, quite on the contrary. A needed one I might add if we want to go according to the "moon" plan.

Yes we all expected a correction/retrace but this was a carefully executed move by a single entity.

[Searing]

We were expecting a 30% drop for a correction.

It happened, but it lasted for only some minutes, which confirms we are still in a bull market.

The bears got out of their cave and are parading in the streets, drunk and screaming victory. Funny.

Thats very true, indeed.

Just one 3600 BTC sell order at Bitstamp and everybody goes loosing their head..  bear market back and the nonsenses...

We are at mondays price.. Oh drama!

yep ..this is how Bitcoin 'rolls' as it were...

myself, (maybe it is just wishful thinking) but after such a massive pump, is not a massive correction good in the long term? I mean folk take the profits of the

pump and it corrects and we move on? Such pumps without a correction of the equivalent noteworthiness of depth...usually means a dump and then sideways?

We will see chump or champ we will be the first to know.

7K coin a couple of months ago was just a dream in my mind....( I was despondent and such)

later

[criptix]

We were expecting a 30% drop for a correction.

It happened, but it lasted for only some minutes, which confirms we are still in a bull market.

The bears got out of their cave and are parading in the streets, drunk and screaming victory. Funny.

Thats very true, indeed.

Just one 3600 BTC sell order at Bitstamp and everybody goes loosing their head..  bear market back and the nonsenses...

We are at mondays price.. Oh drama!

yep ..this is how Bitcoin 'rolls' as it were...

myself, (maybe it is just wishful thinking) but after such a massive pump, is not a massive correction good in the long term? I mean folk take the profits of the

pump and it corrects and we move on? Such pumps without a correction of the equivalent noteworthiness of depth...usually means a dump and then sideways?

We will see chump or champ we will be the first to know.

7K coin a couple of months ago was just a dream in my mind....( I was despondent and such)

later

Yes retraces are good.

Because usually they make new and strong (bag)holders

People take profit (really) and its much better to have a healthy distribution along all the price increases.

Edit:

Im still expecting 6200 and then going up again.

[Lambie Slayer]

Come on people, 'nance is about to open in 15 mins all being well



now is the time to focus

Time to make it official boyz.


via Imgflip Meme Generator

Ive been pondering a theory on an immaculate conception based on a vision I had(fully backed by science, charts and counting to 9 many times). It could be that this human booty gave birth to a BTCaby BTCull. This could be our Mother Mary full of grace and full of ass.

I had to award one more quote of this fine piece of photographic art. I like your {l,p}oophole theory of of baby bull conception as well as the usual tart bullish twang of your post. So Lambie it is! 

"(l,p)oophole theory" 

[bitserve]

Other than that, yeah, this has not been unexpected dump/correction at all, quite on the contrary. A needed one I might add if we want to go according to the "moon" plan.

Yes we all expected a correction/retrace but this was a carefully executed move by a single entity.

Which leads me to think that maybe, just maybe, it was coming from someone that cared about making this rally medium/long term sustainable. Maybe sorry for the overleveraged longs that got liquidated though. Not sorry for the overleveraging shorters that got liquidated on the bounce.

Whatever it were... This is fine.

[bitserve]

It doesn't matter the size of the dump, what really matters is the size of the bounce.

you mean a water bounce from the wc? what a cold felling I try to lvl my writting to the current tone... just kidding !

ps, I will not post a gif of the "event" for those unable to understand it due to cultural differences .

I have never had a water bounce when dumping. Maybe you are using your ass wrong?

P.S.: On second though... maybe in the US. I will never understand why those WC have the water level so high that you even need to be careful not to dip your dick on it. Ridiculous. Awesome flush system though. #WaterObserver

[jbreher]

I don't know why bcash is still not delisted from the major exchanges

I think you may be confused as to how exchanges make money.

[Globb0]

Is it from listing shitcoins and getting paid for it ?

[jbreher]

But lets face it, 90% of the posters on here feed fear in the troughs, and feed greed in the peaks.

Likely true. Herd psychology. Stronger in crypto than in the bulk of the population at large.

[jbreher]

Sent 1.25BTC from an online wallet provider to my .dat Core wallet around an hour ago with a fee of 150 sat/byte & it’s still not confirmed.

Damn mempool bloating!

Edit - Hungarian breakfast whilst I wait for a confirmation.

https://i.ibb.co/RgqN8T8/3-AD0-D0-CF-6-E40-40-DB-9-B5-C-B3518-F130220.jpg

Are you indicating the the centrally planned production quota on transaction capacity has already been starving our precious baby bull? Say it isn't so!
(No, I don't really believe tx cap is responsible for the recent local pullback. But I am quite sure it is coming.)

That is a good looking breakfast, tho.

[jbreher]

I'm going to make sure you guys are seated next to each other at the 100K party. 

Where you gonna put me in between??

Mic G - the Switzerland of Bitcoin.

[Lambie Slayer]

A dystopian, Australian, cannibalistic hermit colony run by Vitalik and flying drones is far more interesting than Cryptobimbo.  I imagine 90% of the stuff she says to Trollgoossens revolves around "Trollgoossens, when are you going to take me to so and so", "Trollgoossens, take me to eat at ______", "Trollgoossens, it's hot or cold.  Adjust the AC", "Trollgoossens, take pictures of me with this camera so I can upload them to Instagram in order to try and upgrade to a better boyfriend", "Trollgoossens, you are not making any money doing this stupid gambling thing.  You need to stop gambling and get a job at the grocery store to support me".

We all know you like to make outlandish claims. In this case it's quite easy to compare to reality and to see how wrong and misguided you are. I wonder how much damage this mentality has already done to your personal life, your chance to procreate and your general happiness level. Almost at the point of feeling sorry for you but think it's all well deserved.

You remind me a lot about the French author Houellebecq with his depressing view on life and his complete failure to connect with the other sex. For me you are completely at the bottom of the masculine hierarchy. Probably for the best your genes die as I don't see humanity having much positive to gain from them.

  Queen is savage. I love it

[podyx]

Come on people, 'nance is about to open in 15 mins all being well



now is the time to focus

[Toxic2040]

1h

[El duderino_]

I'm going to make sure you guys are seated next to each other at the 100K party. 

Where you gonna put me in between??

Mic G - the Switzerland of Bitcoin.

Dammit I can’t get this one ??

[bitserve]

I'm going to make sure you guys are seated next to each other at the 100K party.  

Where you gonna put me in between??

Mic G - the Switzerland of Bitcoin.

Dammit I can’t get this one ??

https://en.wikipedia.org/wiki/Swiss_neutrality

Btw, I have been pretty busy for posting during the past week, but I read, so... CONGRATS MIC!