Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14573. (Read 26608835 times)

Finally, some action! Beautiful. Walls are too short-lived to properly observe them...

Fucking yeah!

Fine.... one thing at a time? lol

9K incoming...after that: LIFT-OFF!

Huge wall on 11000.

Pardon my ignorance but, what's the current market depth of USDT vs BTC to go 50% up/down?

Where could I check it?

I think the true driver of BTC prices upward is price stability. People see it as a store of value so it becomes valuable. Prices going up also drives prices up from FOMO, but these investors are pump and dumpers they don’t want crypto, they want fiat! HODLers are the ones who actually buy Bitcoin to have it and only use it in dire or unusual situations.

The correct comparison is not marketcap to marketcap, it's Tether marketcap to BTC market DEPTH.

Come back when you've checked that ratio out.

Nice little $100 pump just now, let's see if there's enough momentum to take us over $9k

You are exaggerating "a bit", dude. That's not the attitude of a true Litecoiner. #justsaying

XRP and the other alt pairings are not directly responsible for the worldwide quoted fiat price.

This problem isn't going away and can't be swept under the carpet with some "it's just another sh*coin" dismissal because if Tether tanked the way XRP did in the last few weeks you'd have Bitcoin/USD in 3 figures.

BTC gets it's value from being unbacked. What's happening instead is the market is being turned into a huge cesspool of counterparty risk to the extent that the $USD exchange rate is becoming meaningless by the time you price that in.

(Maybe that's why "regulators" have been so kid-glove in their approach lately - i.e. they know the game's up to some extent. Also maybe it was planned this way all along).

Litecoin is a better Bitcoin

O.k.  Mr.(s) brilliant.  

You do recall the chart of the size of tether as compared with all of the cryptos, correct?

I don't have the link right now, but anyhow tether is a very small fraction of this total crypto space, and don't act like you are the only fuck that happens to be woke, because like I said those dumb ass theories about Tether supposedly artificially pumping and supposedly bringing the whole thing down have been spouted off a lot by FUD spreaders, and the fact of the matter is that it had little to no effect on our current state of correction, which still seems to fall within the realms of normal market movements (even if a bit extreme in having had retraced down 70%, so far).





Get the fuck out of here with that.  There is all kinds of trust when we are dealing with a lot of exchanges.

We have no fucking dominant decentralized exchange system yet, and since MTGOX, began trading in 2010, there have been varying number of third parties who have been entrusted with private keys, and today, there are more than 200 exchanges that are mostly using custodial type models.. so get out of here with your strawman bullshit.



Sounds like you are exaggerating a bit here, buddy (and don't even attempt to proclaim that we are not buddies     ).



Who fucking cares?  You really believe that $2billion number is propping up the whole crypto space, or merely bitcoin?  I don't buy your premise (and the other nutjobs that are focusing so much on this supposed calamity waiting to happen).



You are denying the fact that this has been beaten to death, and trying to suggest that the problem is getting worse.. .. and I am having difficulties seeing either your facts or your logic that support your FUD propagating bear wishing claims.    



What Harry berry said = myditto, and I wished that I would have said it like this.   

Here’s the thing:

USDT is not just a bitcoin thing, it’s a pair across all crypto.

BTC and ETH pairs are still far bigger.  

Every trade on BFX is counted as a USDT trade, including people like me that have deposited real USD

XRP is bigger and just as much a shit coin

No one with half a brain actually believes it is backed anymore than Dai

So there are all sorts of confounding factors.  

Hey, it's not rocket science. Wake tf up please.

This entire sector is about the trading of trustless assets. If you have a single corporate entity accounting for 2/3rds of the GLOBAL "fiat" volume (we're not just talking a single exchange here) you need to be on a high dose of delusionary cool-aid not to see an implicit major problem.

The reserve ratio doesn't matter. (Even if it did exist, which it clearly doesn't, no one keeps $2.2 billion sitting idly in a bank account anyway).

Far from being "beaten to death" it's slowly turning into the elephant in the room with which this market will be "beaten to death" sooner or later.

Hasn't this horse been beaten to oblivion in the past 4-6 months?  Fuck, I seem to recall the beating of that horse further back, as well.  

We gots ourselves all kinds of stupid ass theories regarding the supposed bitcoin bubble, and yeah, it does not surprise me that you, toknormal want to include some of those exaggerated and FUDster talking points, since you seem to kind of specialize in those kinds of doom and gloom talking points.        

Actually the comparison of the late 2015 is not a bad a bad comparison, even though that particular surge kind of demonstrates the whole beginning of this bull run, and now we are either continuing in the bull run or ending the bull run, and I think that the case for continuing the bull run is stronger, even though we could experience a 3 to 12 month delay.... and hopefully, more on the shorter end of this consolidation period... so yeah, considering the bull case scenario, which seems to be the more plausible one, we could experience quite a few ups and downs within a $7k to $18,500 range  for several months, and it seems that ups and downs within that range would not undermine the ongoing bull case scenario.

The bear case would likely involve a break below $7k which would have a pretty decently high likelihood of cascading us down to $5k and even dips down to $3k.. so that would be a more bearish scenario, and surely any bearish scenario would likely need to be accompanied by decently sized FUD and perhaps spam attacks and alt coin pumping that fools folks into some kind of belief that bitcoin is not king..... Another bearish scenario could come through a very large level of ICO/Alt coin collapse and/or crack down that could drag bitcoin down with it... yet the bull case does continue to seem as the more plausible one, at least currently... and even if such bull case drags out several months before returning to ATH striking distance.

Our minds have been prepared now. Priming minds followed by the real thing works best.

When a single corporate entity registered in the British Virgin Islands is responsible for cooking up worthless tokens out of nothing that account for 2/3rds of global volume then it's not a bad bet.

Better pray they don't stop printing. (And stay out of gaol !)

https://www.reddit.com/r/CryptoCurrency/comments/7xae98/understanding_tether_why_it_accounts_for_a/

Pretty decent points indeed. Ok, we can consider it similar to what happened in november 2015 when it surged/"bubbled" to $500. Even if it quickly retraced, for me it was the signal that showed BTC was well alive and showed a glimpse of its future. But, even then, it needed to retrace and continue where it left with a healthier growth rate. And see where we are today