Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13170. (Read 26608858 times)

No no, it was gambling at the start. That was a couple of years ago. After that I started learning about the indicators, self taught how to read candle charts and so on. And yeah I lost money like an idiot and that was not fun because it was gambling. But now I enjoy making money because its speculation. I prefer to keep an eye on RSI( Outdated I know- but if used correctly, still a good indicator)

My favorite tool is stochastics combined with bollinger bands. Basically I wait for the outbreak while securing a stop loss limit. And once the outbreak is in, I keep a close eye on MACD and MFI as to the perfect selling point. Works like a charm most of the time. If you have any strategies to share I would appreciate it!

Fair enough that there is "speculation" involved, but there is a difference between gambling and investing and you seem to be very inclined towards the gambling side.

You can make a lot of money in bitcoin as long as you develop investment (rather than gambling) strategies that are likely to pay off quite well in the longer run 5 years plus (and maybe even less than that). 

We will be over the hourly ichimoku cloud at this point and at 8.5k It will officially be a bull run again. Come out of your dark caves the nightmare is almost over!

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At this point, it is difficult to know if WEX is going to be good for its word to reimburse 100% of all outstanding tokens in less than 2 years.  It has already been one year, and they seem to be gasping just to survive with the ongoing freezing of withdrawals, the crazy ass prices and even the tether being traded at near $4 when its actual market value is around $1... Kind of makes for some loss of confidence, that's for sure.

oh...my...god

Must be a bot... for sure.

agree. 2 questions however

1) the revisiting 6k ... is this simply 'manipulation' at this point in time, due to the fact a LOT and I mean a LOT of ASIC miners, btc

and others are folding. Some good-sized data halls as well. Thus forced in the situation of 1) paying off loans/debts etc with btc/crypto

to the bank or whatever to cut down on monthly expenses (not to mention people, pulling out rigs) thus, once their house is in order

(painful though it may be) hope to MINE LIKE HELL and HODL BTC (or whatever crypto) and replenish HOARD at the other side. It is

a half-assed way to do this, but if you have big monthly expenses, cashing coin out now to minimize that and mine at the back end,

from folk I know, seems to be what is going on. ie get the bank off my back, by selling crypto, have the bldg etc as a hedge, if all crypto

goes tulips, and then with less

expenses outside electric, etc and mine and HODL to get it back, after this August has passed. An everyone cashing out because, they

got caught with their pants down, kinda situation...don't ya know.

So my point is, is this a 'short-term' adjustment by miners to a 'new reality' and thus the glut of BTC/crypto sales and getting their house in

order? (hell, I don't know, tossing it out there for better minds than mine to ponder)

2) what exactly do you have to have for electric and such to make any money with BTC or LTC mining at these current prices?

Like what? Something silly like 5c electric for your BTC or other crypto ASIC rigs? Hell if I know if bitmain is making money or losing money

right now. I guess it depends on what the 'big, I mean really, big boys pay for electric". I've no clue.



To sum up, is the boat on pow mining of any type, just awash and can be bailed out ..or is the pow mining (BTC specifically) sinking?

Or hell, is what I'm saying has nothing to do with the price or any other issue with BTC or crypto at this time?

Just a further aside, if any combo of the above is true, would that not mean, this too shall pass? (overproduction vs price) and with

85% of all BTC already mined, there simply will have to be a rebound (eventually)? (or am I delusional?)

as usual, I think you see what I'm pondering here..but really have no idea of how widespread big miners are and if/or not they are

in trouble like the rest of us ....or simply reaping the rewards as pow miners of any flavor are pulled and now doorstops at the lower

end and higher electric price levels (middle and small fry data halls may be toast as I speak)

thanks, as usual, I'm hoping the price is due to the above considerations, short-term and simple low volume and such being August and all.

and again, nothing I've said above has any basis on the current situation this August or price of BTC or crypto and I've missed the mark

entirely. (but then again, delusion may be my middle name, these days, got to have a reason made up or not!)

anyway, above is where the rabbit trail of my mind is going

brad

I'll admit, I am conflicted.

I worry about one entity holding that much value.

OTOH, it reassures me that Bitmain has such a large commitment.

I know the local narrative is that Bitmain shit the bed on this. I can see several ways, however, that this works out well for my position - in working out well for Bitmain. Time will tell.

What about your income stream, micgoos?

You cannot just spend money without having income coming in, right?

Lauda, is that you?   You are looking kind of serious and focused, even with those wings. 

I will concede that I believe you are a real person, and therefore the needs of real people will sometimes cause an inability to contribute to the WO thread.



Surely, a lot of us BTC HODLers feel some kind of desire for the BTC price to just do something... We get several incidents of seeming to break up, but then we continue to get caught back down in this $6k price range (which is the bottom of the range)... So yeah, it can be a bit depressing, even while it is within the realm of normal market behavior and within a realm of possibilities that we should have been able to expect to be possible... and in that regard, there may be some relief that the price correction is not greater and that BTC is holding this bottom pretty well (even though we are far from out of the woods.. bring us above $10k, and we might start to feel some kind of satisfaction that the "bottom is in").




Hopefully, you do not get burned with that crap, but I suppose some folks would consider that you deserve it and there is not much sympathy for Bcash supporters in these parts - especially since it continues to be largely perceived as an ongoing attack vector against BTC... so in some regards, people are hoping that Jihan and Roger and even you get burnt with your bag holdings.. But we will see... time will tell.  If Jihan gets an IPO bail out, it could take another 5-10 years to play out (hope not but it could take that long).



Your thinking is muddy, here.  Anyhow, you seem to be talking about both BTC and BCH and expecting both of them to have at least one more exponential price rise.  I cannot really disagree with your that BCH could muster up another pump at some point in the near future.


Again you seem to be conflating bitcoin and bcash, and sure there is some relationship, but we are probably not going to get anywhere by diving into the beaten up topic further.

On the other hand, it remains a good practice to have established an acceptable amount of liquidity, but in practice, there continues to be temptations to spend some of that liquidity while the price is down, and perhaps to screw things up by running out of money in the event that the asset (referring to bitcoin here) continues to go down.. perhaps below $3k - which seems a stretch to me, but certainly not out side of the realm of possibilities... which will be depressing for me too, even though I am prepared to keep buying and I already have orders set down to those price levels, just in case.

Dank, is that you?

not sure but i want to say bullish!

Your advice is really incomplete, and I don't really know what you mean with your assertion of "rigged."  Actually, the "rigged" concept seems like quite a bit of incomplete bullshit. 

I agree with any point that you might be making that whales (especially bear whales) are going to attempt to manipulate the price down as much as they are able to manipulate it down, but that mere fact does not mean that the long term situation is "rigged." 

In other words, bearwhales might not want to sell their own coins in order to manipulate the price down, especially if they are not confident about their ability to get the price to go down, so they attempt to get others to sell their coins.

You do realize that we are at quite less than 1% world-wide adoption of bitcoin, and accordingly, there continue to be a lot of peeps who are just finding out about bitcoin and wanting to take some kind of stake in bitcoin.   Those peeps cannot HODL.  They have to figure out a reasonable buying strategy to get a stake into bitcoin.

  Even people who have been in bitcoin for a considerable amount of time might not be content with the amount of bitcoins that they have, and those people might be attempting to accumulate coins, too, and HODL is not going to work to accumulate coins.

I agree that once you have established a decent sized BTC stash that reasonably fits your own circumstances, then at that point, HODL can be a very good plan, but HODL by itself is likely incomplete for a large number of peeps, especially given our continued low level of actual adoption which continues to justify various means to attempt to accumulate BTC.

I liked some of your posts and links and stuff before. I was your advocate even when others were souring on you. But looking back over the last half dozen pages you seem like you are losing it.

That is the ultimate in stupid for someone margin shorting in a bear market and still getting REKT. 

Rats, rats will be hunted

do not trade, no negotiation, hodl

Be lions, be ferocious

your implication that we cannot really know what is going on behind the scenes with any kind of certainty is not without precedent.

Of course, if whales could push the BTC price down more without giving up their own coins, then they are likely to attempt such.

Even though the time frames in 2015 were different, but we spent a considerable amount of the whole year of 2015 in the $200s and there were continued attempts to bring the BTC price down, but at a certain point, they ran out of sellers.

Yeah, we keep revisiting $6k, and none of us know for sure if $6k is going to hold - but we have been here quite a bit, and we continue to return to around this price range.  At some point, there are likely to be more buyers than sellers in this price range and at prices much higher than this, but I still think that it could take awhile to break above $10k and to stay there.  Would be nice if we could get into the $10k striking range in the coming months, but seems to me that the odds are not really better than 50/50 in that regard, perhaps even in the 40% arena?  Surely, I like surprises, especially upwards, but we should continue to prepare ourselves mentally and financially in case it takes longer than expected to get back above $10k.