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

[Bossian]

Overreactions everywhere. It's a big drop but nothing worth panicking. We've seen much worse.
It may even bounce back around $ 9k.

[600watt]

well folks tough times.

we went almost to $14k, straight out of polar bear market to the tropical beaches of joy. when the rise started to weaken end of june we had dark doom voices whispering about an 80% correction like to sub $3k.

imho those price movements get more violent as we are about to enter another mega bull next year. what is behind us was the parabola to get us out of the bear just as in nov 2015, when price shot over $500. it took 6 months to recover from the collapse of that parabola, eventhough it was sort of staying at the upper boundaries back than.  

i am not concerned. btc dominance looks great. shitcoins die. fundamentals look great. we will go over 10k for good in november this year.

[JSRAW]

Central Banks Worldwide Testing Their Own Digital Currencies

Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft cryptocurrency bill.

China’s CBDC Is ‘Almost Ready’
The most recent country to claim that its CBDC is near completion is China. According to media reports, The People’s Bank of China (PBOC) is “almost ready” to issue the country’s own sovereign digital currency. This was revealed at a forum held in the northern Chinese province of Heilongjiang on Aug. 10 by Mu Changchun, deputy director of the PBOC’s payments department.

[mindrust]

https://www.tradingview.com/chart/BTCUSD/3l1JOd99-Wedge/

The next 24 hours is extremely critical. Go down and say hello to $7.5k, we better jump up now.

edit: mini jump from 9.5k to 9.8k. I just bought before the jump another $100  

[JSRAW]

^Jump up means?

Buy now or wait ?

[VB1001]

<...>

When Legendary, HM?

Activity between 775 and 1350 ....

Its random

I was lucky

I had read about this, it is random, but its day (activity number) to become legendary is preset the day you register in the forum.

edit:

Info here:

theymos  Activity & new membergroup limits  https://bitcointalk.org/index.php?topic=237597.msg8298386#msg8298386

[mindrust]

^Jump up means?

Opposite of jump down.

Buy now or wait ?

HODL & Buy as always. Now you get to get more satoshis.

*I want this.
https://old.reddit.com/r/Bitcoin/comments/cqhyhr/new_tattoo_skin_in_the_game/

[ivomm]

This is really sad for all these people that dump as if there will be no tomorrow. I can understand if some whales/hackers had to sell tens of thousands of coins for some reason, but I can't understand those who are led by emotions and lose much in a matter of hours. The 4/6 hour RSI has never been that low... may be when they dumped from 6400 to 3100. Anyway, I initiated a small $300 transfer to an exchange a little bit ahead of the plan. After 2 weeks I will be able to buy coins with another $800. I won't need money until 2021 at least, so this is another good opportunity to increase my stash. And I can wait much longer if that is necessary to get at least 10x profit.  

[serveria.com]

I think we have reversed... or not?  

P.S. Chinese conmen ran out of ammo (Chinese ponzi coins)?

[Bossian]

I think we have reversed... or not?  

P.S. Chinese conmen ran out of ammo (Chinese ponzi coins)?

Early to tell, but possible. I bought a bit at $9.55k.

[Lambie Slayer]

So we are on pace to soon be testing the very low 9ks for the third time in a month.

I dont see any special reason why 9k will hold. I want to see some serious volume to convince me otherwise.

We can go to 7-8k and easily still consider ourselves to be in a very bullish scenario. We all remember how 2015 gave away big gains several times only to finish the year very strong.

Tons of support around 8k. If we make it that low and get some mega volume along with a green dildo then I think we set ourselves up nicely for a beautiful finish to 2019.

A huge volume spike would sure be nice.  But remember, accumulation doesn’t show volume spikes.

2015 gave us a nice example of such. The year in hindsight to me was an accumulation year for the first 10 months.

The June-July 2015 mini bull run peaked on July 12 and had big daily volume on July 10, 12, and 13.

All gains from this run were given back and the down trend did not stop till August 25. August 24 and 25 had massive volume and signaled the selling was over.

2015 to me was characterized as a large accumulation period with two mini bull runs that gave up most of their gains. 2019 did a lot of sideways and then a large bull run that we just witnessed peak on Jun 26. I still think its likely 2019 is an accumulation year just like 2015 and instead of 2 runs giving up a lot of their gains we seem to have consolidated it into 1 large run that hopefully wont give up all, but has already given up much of its gains.

Exacerbating circumstances warping it into one large run would imo be the perfect storm of stockboyz hitting all time highs despite all the economic fuckery we are living in, Trump jawboning the Fed into first ending rate hikes and quantitative tightening, following up that feat by jawboning the Fed into cutting rates, the Trade War shitstorm, the devaluing of the Yuan, the NYAG Tether crusade making Bitcoin a safe haven from sketchy stablecoins, the Libra hype(lets be honest that was crack cocaine for newbs) the demise of shitcoins, the humiliation of CSW, and last but not least frontrunning what happened in 2015.

TLDR: I think we are due for some moderate to serious mean reverting based on the 2015 fractal. Good news is a lot of it has already happened, but Im convinced its not over and a mega volume day would go a long way to change my mind.

[zhekinsp]

^Jump up means?

Buy now or wait ?

If everyone decides to wait then the price may fall $7.5K so its better to do buy now if we don't want to wakeup the bears.

[nutildah]

And he is somewhat deluded into thinking that the possibility of a "blockapocallipse" is much higher than it really is...

You may wish to ponderate upon this trend line: https://www.blockchain.com/en/charts/avg-block-size?timespan=all

Has nothing to do with a "blockalypse" because the blockalyse never happened.

Blocks became full, Dominance plummeted. If you don't like the name Blockalypse I for this sorry state of affairs, then good for you. Stick your metaphorical fingers in your ears or bury your metaphorical head in the ground - your choice. For my part, I find it an apt and fitting description.

You're correlating two things that have nothing to do with one another. The price of BTC continued to rise during the dominance plummeting. There are hundreds of other projects out there that were rising just as fast, or faster. Ego, they were taking up more of the market cap share. Its simple math.

This time around, investors have wisened up to the fact that not every project will be as successful as bitcoin, which is why altcoins are being left behind (including BCH and BSV).

If money was flowing out of BTC in search of other options, its price would have declined. Instead, the opposite happened.

It simply means blocks are becoming increasingly full.

Exactly. And when they become persistently full once again?
Blockalypse II. Where the masses again abandon BTC for some other chain that actually allows one to quickly and inexpensively transfer value.

Again, its dishonest of you to say the "masses abandoned BTC" when its price was on the rise the entire time. This is why the 'blockalypse' never happened.

[VB1001]

Santander UK unexpectedly dropped support for Coinbase

On August 14 a Reddit user announced that Santander UK was halting all payments to Coinbase cryptocurrency exchange. ui/Cheat69 said:

Just got off the phone with a Santander rep in the U.K. who informed me they will no longer be allowing their customers to deposit money to Coinbase.

After I put in a compliant their “complaints department” confirmed to me that I should move to an alternative bank if I wish to make the payment.

They went on to say this is likely because of an increase in fraud related to Coinbase.

https://bitcoinist.com/santander-uk-no-longer-supports-coinbase-payments/

Yesterday Barclays today Santander.

https://bitcointalk.org/index.php?topic=178336.msg52155756#msg52155756

[600watt]

lol, some bounce. we need another $150 to go up to be above $10k.

obvoiusly this is your last chance to buy sub 10k. once it goes above, we will never see sub $10k again^TM

 

[HairyMaclairy]

<...>

When Legendary, HM?

I still need to get my mom to sign the permission form

[heslo]

So is this the bottom or just a dead cat bounce?

I think we've probably seen the worst... seems people got a bit over happy in the sell off

[VB1001]

<...>

When Legendary, HM?

I still need to get my mom to sign the permission form

Ok, study a little more this summer and your mom will give you the authorization.

[Saint-loup]

https://www.tradingview.com/chart/BTCUSD/3l1JOd99-Wedge/

The next 24 hours is extremely critical. Go down and say hello to $7.5k, we better jump up now.

edit: mini jump from 9.5k to 9.8k. I just bought before the jump another $100  

[JSRAW]

To keep up WO's Spirit up