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

[jonoiv]

Someone getting in with 300 coins bid miniwall @ 426 on stamp. Not much selling pressure against it...

Looking at it now.  it's shrunk to 200 and a 100 opposing wall.

[dreamspark]

Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.

[ChartBuddy]

Explanation

[Davyd05]

I think sometimes we forget, that there is always going to be selling while merchant acceptance is outpacing purchasing and or HODLING. Not to mention profit taking and paying dem fiat bills that can't be directly paid in btc.

Looking at the volumes back in Nov. it seemed more or like everyone had dollars, and no one was willing to part with their btc for them on the exchanges. This mentality can wash over random country or globe of people, just needs specific catalysts and to be honest I highly doubt the positions we take here on this forum dictates any of the recent influx of selling pressure. Either way I swear every major reversal makes the skeptics rethink and we sway a 1-10% of them to our side lol



I want Adam to start a poll with who had bought or mined btc prior to joining the wall observer.  

[EuroTrash]

Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.

450 used to be the norm. Before that it was 620, and before that it was 800.
If 425 becomes the new normal flat line on low volume, which is lower than the previous one, it just means that at last dip, once more and again, more fiat got out than new fiat came in.

Apathy sucks. Let's hope that volume picks up on Monday.

[KFR]

Bitcoin.  Where everybody treats a day like it's a month.

[billyjoeallen]

Coinbase is running a little bit higher than Bitfinex and Stamp. This is where American miners usually cash out, so this is an indication that miners aren't selling. Americans are buying. Slowly, patiently.

It could easily go lower than here. A lot lower, but I'm psychologically changed. I'm getting greedy for cheap coins. It could stay low for months or years. Good. More time to buy cheap coins.

Is this anecdotal evidence of a change in market sentiment or just me? Dunno.  Let's find out.

[ChartBuddy]

Explanation

[Zule]

Coinbase is running a little bit higher than Bitfinex and Stamp. This is where American miners usually cash out, so this is an indication that miners aren't selling. Americans are buying. Slowly, patiently.

It could easily go lower than here. A lot lower, but I'm psychologically changed. I'm getting greedy for cheap coins. It could stay low for months or years. Good. More time to buy cheap coins.

Is this anecdotal evidence of a change in market sentiment or just me? Dunno.  Let's find out.

Whole thing based on a "murican miners sell on Coinbase", any evidence to that?

[podyx]

Coinbase is running a little bit higher than Bitfinex and Stamp. This is where American miners usually cash out, so this is an indication that miners aren't selling. Americans are buying. Slowly, patiently.

It could easily go lower than here. A lot lower, but I'm psychologically changed. I'm getting greedy for cheap coins. It could stay low for months or years. Good. More time to buy cheap coins.

Is this anecdotal evidence of a change in market sentiment or just me? Dunno.  Let's find out.

God, I don't know what have made you gone full retard

I thought you were one of the more brighter people before, maybe you're just trying to bring down the price

[billyjoeallen]

Coinbase is running a little bit higher than Bitfinex and Stamp. This is where American miners usually cash out, so this is an indication that miners aren't selling. Americans are buying. Slowly, patiently.

It could easily go lower than here. A lot lower, but I'm psychologically changed. I'm getting greedy for cheap coins. It could stay low for months or years. Good. More time to buy cheap coins.

Is this anecdotal evidence of a change in market sentiment or just me? Dunno.  Let's find out.

Whole thing based on a "murican miners sell on Coinbase", any evidence to that?

Coinbase is the easiest, safest way to get fiat in and out of Bitcoin in America. Our wallets are linked to our bank accounts.  I found out about it from this forum last year when price was running BELOW Gox and stamp. I asked why and a few miners told me.

[chromosoma]

Bitcoin is falling, slowly but constantly:)

[octaft]

Coinbase is running a little bit higher than Bitfinex and Stamp. This is where American miners usually cash out, so this is an indication that miners aren't selling. Americans are buying. Slowly, patiently.

It could easily go lower than here. A lot lower, but I'm psychologically changed. I'm getting greedy for cheap coins. It could stay low for months or years. Good. More time to buy cheap coins.

Is this anecdotal evidence of a change in market sentiment or just me? Dunno.  Let's find out.

God, I don't know what have made you gone full retard

I thought you were one of the more brighter people before, maybe you're just trying to bring down the price

He's always been goofy. It's just that now you disagree with him, and thus aren't viewing him through rose-tinted glasses anymore.

[keithers]

Nice profita over the last day for anyone who picked up additional btc at $335-$340

[BitAddict]

Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.

450 used to be the norm. Before that it was 620, and before that it was 800.
If 425 becomes the new normal flat line on low volume, which is lower than the previous one, it just means that at last dip, once more and again, more fiat got out than new fiat came in.

Apathy sucks. Let's hope that volume picks up on Monday.

Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.

That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5 million)

[JayJuanGee]

Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.

450 used to be the norm. Before that it was 620, and before that it was 800.
If 425 becomes the new normal flat line on low volume, which is lower than the previous one, it just means that at last dip, once more and again, more fiat got out than new fiat came in.

Apathy sucks. Let's hope that volume picks up on Monday.

Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.

That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5)

I would speculate that miners are selling back less than 10% at these prices... and they are probably attempting to be somewhat strategic about when they make the sales, if their hand is forced.

[billyjoeallen]

Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.

450 used to be the norm. Before that it was 620, and before that it was 800.
If 425 becomes the new normal flat line on low volume, which is lower than the previous one, it just means that at last dip, once more and again, more fiat got out than new fiat came in.

Apathy sucks. Let's hope that volume picks up on Monday.

Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.

That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5 million)

Blockchain.info and Coinbase each have over a million wallets. $1.5 million is less than a dollar average per wallet. See, that's the problem bears have. There is a point where supporting a price level becomes trivial for Bitcoin enthusiasts. We don't know what that level is, but it's somewhere.

[rpietila]

Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.

That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5 million)

I would put it this way:

Only about $0.5 million of the daily bitcoins generation enters the market. Of that, the following are interested:

20 G20 countries
50 midsize countries
70 small countries
70 very small countries
500 billionaires
10,000 100-millionaires
1 million 10-millionaires
30 million millionaires
500 large corporations
500,000 midsize corporations
500 million Europeans with <1M net worth
300 million N. Americans -..-
300 million S. Americans -..-
200 million ex-Soviet -..-
1,700 million in Indian peninsula
1,600 million in China
1 billion in other parts of Asia
500 million more in Asia
1 million existing bitcoin investors thinking it is cheap

It is mathematically certain that everybody cannot get many bitcoins. The list above included so many entities that it is certain that some of them realize that acting before others is an advantage, like any one reading this has realized. Then they start to want the bitcoins, and as the daily interest exceeds $0.5 million, the price starts to rise.

[KFR]

Precisely.  And the block reward is due to halve again in just a couple of years.  So then there's only 1800 new coins per day entering the system. 

[magicmexican]

Most obvious prediction is down to 2500 on huobi