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

[Erdogan]

A real holder holds down to zero, confident that absent central banks, it can't go negative. But at that point, he might jump over to a promising altcoin

ether?

Does it matter, when your holdings are worth zero? Moahahaha - got you.

[ChartBuddy]

Explanation

[ensurance982]

I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!

[ShroomsKit]

Why is it that almost everybody in this thread is long and I am probably the only one short ?

The trend was down, it hit major resistance, it failed to rally on good news. Why would you be long in this market?

Why is everybody saying "YAY! Cheap coins" ??

Why are you trying to catch a falling knife? This might be the bottom but its highly unlikely its the bottom. It could go down another $50,$100 or $200 before it reaches a bottom and finds support.

The cheap coins argument. I'm so tired of it.
How many more years will peoole be cheering that we're going down? Every drop since 1200 has been totally fucking awesome because "cheap coins".
We dropped to 900! Awesome! I'm buying all these cheap coins! 700! Perfect! I'm buying! 500 woooow cheap coins! I'm buying. 450! I can wait for 300's buying them cheap coins! 250 this couldn't be any better. Buying here! 100 fuck i'm buying. 1 cheeeaaap coins i'm buying! Bitcoin dead but fuck that i'm sitting on all these cheap coins!

The ShroomsKit argument. I'm so tired of it.

Actually ShroomsKit has a point.  Both traders and holders rely on buying low only in the hopes that it goes up from there.  But what if it doesn't?

From a holder perspective, anyone that bought any bitcoin this entire 2014 year, would be sitting on some kind of loss right now, unless you just happened to be so lucky to get one at $389.  Think about that for a moment.  Any of the hundreds of thousands of new bitcoiners that bought bitcoin this year has never seen a bitcoin go up in price, ever.  Only down.

That's why we should stop cheering when it goes down. This was the year it was gonna go big, instead it's turning out to be the worst investment for tons of people. This constant downwards pressure is killing Bitcoin. I keep saying it: it won't magically go up again forever. One time it will simply stop. How many more crashes before people simply stop buying? This might be the last one.
And then there you are. With all your cheap coins worth shit.

[bitebits]

Let's take a moment of silence for those holding.  

What happend, do they have less bitcoins now?

[N12]

ShroomsKit is such a fudster.

[itod]

The cheap coins argument. I'm so tired of it.
How many more years will peoole be cheering that we're going down? Every drop since 1200 has been totally fucking awesome because "cheap coins".
We dropped to 900! Awesome! I'm buying all these cheap coins! 700! Perfect! I'm buying! 500 woooow cheap coins! I'm buying. 450! I can wait for 300's buying them cheap coins! 250 this couldn't be any better. Buying here! 100 fuck i'm buying. 1 cheeeaaap coins i'm buying! Bitcoin dead but fuck that i'm sitting on all these cheap coins!

Actually ShroomsKit has a point.  Both traders and holders rely on buying low ONLY in the hopes that it goes up from there.  But what if it doesn't?

I don't get this "What if it doesn't go up?". If I would think there's even a small realistic chance BTC won't go up above ATH I would sell immediately to fiat. Nothing is impossible, but BTC not going up is very close to impossible. That's the reason why this drop gives me a joy, I really haven't hoped I could grab more for < $300, I thought I would never ever be able to buy significant amount of BTC again. Now there's sudden hope!

[N12]

I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!

And why would that be? You probably would have said the same in 2011 about $4.

[FNG]

...most of you here don't spend any time studying all technical and ideological aspects of Bitcoin and think that Bitcoin survival is related to its price only, which is very wrong... there is more to Bitcoin than its price.

^that.

lol..of course there's more to bitcoin than it's price. But..at a marketcap or a few billion it's potential to do many things that it would otherwise excel at is severely diminished. Bitcoin's utility increases dramatically with price.

[scarsbergholden]

I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!

I am very, very confident that we will bounce ~ $340-360 (maybe wick a bit lower), and I do think that we will go there. Still may not be bottom by any means, but we should rally off there methinks.

[ShroomsKit]

I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!

I truly think we're fucked if we cross that point. It simply shouldn't go that low if Bitcoin is healthy. If we cross it then there is something seriously wrong and there will be a good chance it won't go up anymore.

[Patel]

And then there you are. With all your cheap coins worth shit.

I never said I was holding. Where did you come up with that assumption?

You're assuming too much.

[Chuckee]

ShroomsKit is such a fudster.

So are you going to ban him too and shamelessly attempt to extort money like you did with the other bears? Must really upset you that they were all right.

[macsga]

don't panic - hodl & enjoy the ride

+1
Anyone has any comments about the volume?

[N12]

I guess we're now re-testing a very very long term support line. This is worrying! If we break below $350 - I don't like this saying at all usually - we're doomed!

I truly think we're fucked if we cross that point. It simply shouldn't go that low if Bitcoin is healthy. If we cross it then there is something seriously wrong and there will be a good chance it won't go up anymore.

If we go below, I hope I'll get to buy some of your coins.

[akujin]

421! Will it bounce?  

[FNG]

OMG cut your losses..bitcoin's infrastructure has ground to a halt..and the current global financial construct looks better than ever..no cracks at all.


lol..I see a lot of I sold at $420 what should I do posts in the future

[sidhujag]

Waitign for noobs to come say.. what happened, wats the news why down? Thats when I buy.

[ShroomsKit]

And then there you are. With all your cheap coins worth shit.

I never said I was holding. Where did you come up with that assumption?

I general. Not aimed at you.

[Richy_T]

...most of you here don't spend any time studying all technical and ideological aspects of Bitcoin and think that Bitcoin survival is related to its price only, which is very wrong... there is more to Bitcoin than its price.

^that.

lol..of course there's more to bitcoin than it's price. But..at a marketcap or a few billion it's potential to do many things that it would otherwise excel at is severely diminished. Bitcoin's utility increases dramatically with price.

This is true. I keep hearing comments about Scotland should adopt Bitcoin. Whilst that's not likely in any case, it's just plain logistically unrealistic even with the price an order of magnitude above what it is currently.