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

[zimmah]

it may be nothing, but maybe a new trend is forming.

If this trend actually proves to be true, it's a VERY bullish one. This one is pretty steep.



The other lines you are seeing are also exponential lines (linear on a log chart) and are pretty steep themself, but they look almost horizontal compared to the new lines!

(1 or 2 of them are resistance lines though)

[JorgeStolfi]

3600 CNY was the price on March 26, just before Caixin leaked the PBoC's "strenghtening" directive.

It is as if that directive did not exist.  Perhaps the end of leveraged trading and other monkey business compensated the new hurdles for moving CNY into the exchanges?

[wachtwoord]

3600 CNY was the price on March 26, just before Caixin leaked the PBoC's "strenghtening" directive.

It is as if that directive did not exist.  Perhaps the end of leveraged trading and other monkey business compensated the new hurdles for moving CNY into the exchanges?

Newsflash: it didn't matter.

[BitchicksHusband]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely).  This is what bitcoin does.  The deep correction will be in August, down to a "low" of $2000 at least by December.

[BitchicksHusband]

Cant go up forever!

Someday we'll reach the vertical of the adoption curve and you'll see that we seemingly CAN go up forever.  It will be the bubble to end all bubbles.

[zimmah]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely).  This is what bitcoin does.  The deep correction will be in August, down to a "low" of $2000 at least by December.

yes and people will cry and forget that we even were at $400 a few months before that. And they'll scream bitcoin has failed and say "i told you it was a bubble" and they spread FUD and extrapolate their charts to 'prove' "if it continues to fall at this rate we'll hit 0 in December and -$3000 in January." etc. etc.

 

[NotLambchop]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely). ...

Trains don't go to the moon.  No tracks, weird gravity, other stuff.  I'm super serious.

[ShroomsKit]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely).  This is what bitcoin does.  The deep correction will be in August, down to a "low" of $2000 at least by December.

Since this IS a fact according to you can i assume you took a huge loan, sold your house, your car, really anything you could to put this money into Bitcoin. Considering this is a fact you'd be crazy not to. Right?

Or did you mean to say it's a possibility?

[wachtwoord]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely). ...

Trains don't go to the moon.  No tracks, weird gravity, other stuff.  I'm super serious.

Okay, attack the metaphor ... 

[NotLambchop]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely). ...

Trains don't go to the moon.  No tracks, weird gravity, other stuff.  I'm super serious.

Okay, attack the metaphor ... 

Take the train by the horns and block that metaphor!!1

[wachtwoord]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely). ...

Trains don't go to the moon.  No tracks, weird gravity, other stuff.  I'm super serious.

Okay, attack the metaphor ... 

Take the train by the horns and block that metaphor!!1

Trains don't have horns!

[tuneman1980]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely).  This is what bitcoin does.  The deep correction will be in August, down to a "low" of $2000 at least by December.

I'm with you.  I think we could even see $6,000+ in a year.  http://cryptocoinstats.com/priceforecaster.php

[ChartBuddy]

Explanation

[NotLambchop]

@wachtwoord: All moon-bound train have horns.  Some that honk, and some that poke loocomodors. (a popular sport pitting a man with a red cape against a furious locomotive)
You're thinking old fashioned earthbound trains.

[wachtwoord]

@wachtwoord: All moon-bound train have horns.  Some that honk, and some that poke loocomodors. (a popular sport pitting a man with a red cape against a furious locomotive)
You're thinking old fashioned earthbound trains.

"On the anatomy of non-Earth-bound trains" by NotLambchop, 2014

[octaft]

I guess that guy has too much money and wants to sell his coins cheap. Very altruistic of him. Just like that guy 2 days ago who dumped 600 coins while we were going up. Very nice guy.

There's nothing charitable about it, really. It's just profit realization during the rise. If you're a holder, more power to you, you will be unaffected, but those who trade need to make sure they don't get greedy. It's the same thing as waiting for it to drop another $50 before buying, you keep waiting for more $50 drop/rises, eventually one doesn't come and you miss out on some serious profit if you didn't buy/sell any on the way.

What I mean to say is traders should not get greedy.

[shmadz]

Can't take money out of our pockets without creating volume.

SecondMarket is doing just that.  They earn money from keeping bitcoins locked up.

Can't create volume without price appreciating accordingly.
Can't have price appreciating without us early parasites adopters becoming rich. Filthy rich! To da moon filthy rich!

If old coins get dumped on the market, volume will probably go up, at least for a while, while price goes down.  We saw that in every past crash.  Exchanges will make more money during price crashes, than when the price is stable.  

BitPay will make money even if the BTC price falls, as long as there are people buying with bitcoin.

SecondMarket's BIT could make a lot of money with falling BTC price, if they didn't  actually buy the coins when clients invest in them, but only when they liquidate.  I don't know the exact terms of their contract (they are revealed only to investors) and whether they could be prosecuted for failing to honor it.

Did you buy a coin yet, old man?

And ruin my trading record?   Not likely soon...

Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few)  

by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.)

 I suspect that many businesses will start to use public addresses in order to allow charities to prove where they are spending. These businesses that accept bitcoin in this way would be well served to give a discount to the charity and also take advantage of every opportunity to remind consumers of their charitable actions.

Or even corporations. Some competitor to whole foods will crop up and have provably organic food, bought from organic farms that accept bitcoin.

It's late and I'm rambling again, but having a provably accurate open ledger of account brings up so many possibilities.

Hoping for a brighter future.

[Miz4r]

Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.

Learn bitcoin.  The train IS going to the moon ($5000-$6000 in this case most likely).  This is what bitcoin does.  The deep correction will be in August, down to a "low" of $2000 at least by December.

The moment you think you know what Bitcoin does is the moment Bitcoin does something completely different. I can assure you what you say will happen will not happen. What will happen I do not know either, but I am prepared for everything.

[Mythul]

Its so nice to be in a bull market again. I wonder what could cause the next crash ? Although I think we might never see 400s since it took almost the perfect storm to get the Bitcoin price to that level. The chance of a similar storm is not that big anymore...

[CoinRocka]

Cant go up forever!

Someday we'll reach the vertical of the adoption curve and you'll see that we seemingly CAN go up forever.  It will be the bubble to end all bubbles.

What event will trigger the "vertical" climb?  I'm guessing a horrible market crash and the resulting run on the banks.  I envision very long lines at the Bitcoin ATM akin to the gas lines back in the late 70's.