Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14800.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: rjclarke2000 on February 01, 2018, 03:12:04 PM

What is the reason for this drop? I’ve seen lots of FUD in my time... but this??

This is plain stupid.

Nothing to do with any news.

Just people. People hear that bitcoin price will go up forever so they buy in. Bitcoin price stops going up and starts going down so they sell.

The snowball effect works the same when the price is going down as it does when the price is going up. Draw the same downward trend lines that were being drawn when the price was going up.

I would love for the price to drop quickly so we can get back to a rebound but it will probably be long and drawn out.

Cassius

legendary

Activity: 1764

Merit: 1031

This is an interesting twist on the USDT thing: that they are capitalised, but went about it backwards. http://telegra.ph/Tether-could-be-guilty-of-perpetrating-a-huge-fraud-just-not-the-one-we-think-02-01

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ?? on ??

Guys, I Sodl.

I'm a long term holder. Bought my first bitcoin in 2013 to buy MDMA on SilkRoad. Later got inspired as a software vendor by the idea of cheaper transactions (Visa getting 20% of my profit!).

I Hodl in 2014 when times were grim. I hodl because I believed that Bitcoin would disrupt finance, distribute power, and improve the quality of life with lower cost transactions.

Now Bitcoin seems more like digital gold... something the rich need to store their vast wealth and move it around. Or bitcoin/altcoins are a way to gamble like trading baseball cards. That just doesn't turn me on.

We've been saying that bitcoin isn't perfect because "it's like the internet in 1990". We said that 5 years ago, and people are still saying it again today.

I'm not giving up on Bitcoin, but I've sold 50%. Now I can breathe. I still believe in the dream of a decentralized currency. Still believe in bitcoin. And going to now focus on how I can support making bitcoin a currency.

Here's exactly an example of both lack of planning, and pumpening of various shill talking points while attempting to act as if s/he/it is sympathetic to bitcoin.

If you were going to sell some portion of your BTC to feel better, you should have already done such selling (or proportional selling) a long fucking time ago. You don't sell on the way down and especially in the vicinity of about a 55% retracement. It is the opposite of what you shoudl be doing... and if you cannot BUYDL now because either you did not sell any higher or you did not have enough fiat in reserves, the you should be at minimum HODLing. Strong Hands, as Adam Meister likes to repeat. Tongue

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

Quote from: realr0ach on February 01, 2018, 03:05:00 PM

Quote from: FractalUniverse on February 01, 2018, 02:56:27 PM

big volume around 9k on finex. this will be interesting whether it can hold or not

They already showed their cards and made it too obvious the exchange is a complete scam by fabricating all this enormous buy support around the $9k area when other exchanges are $300 lower. There was absolutely no reason for anyone to waste like $50+ million defending that level when other exchanges had long busted through it. This means they're just printing Gox dollars out of thin air to try and defend price all the way down.

That could be read as a run on Tethers -on finex because there it pays best in btc. And that real cash exchanges are getting dumped on harder is obvious: who would like to wait for a bank wire from finex?

But no worries: if no bottom will hold we can always have a drink.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

how much credence to you all put into the Tether playing games and NOT fully backing with USD as they claim?

assuming that .... what do you think the effects will be?

9k coin
8k coin
7k coin
6k coin

etc?

I'm hoping, IF they get burned..it will shake out to cheap coin and a rebound in price and onward and upward

(I am often wrong, however) Sad

thoughts on what IF Tether is worst case and its effects

thanks

rjclarke2000

legendary

Activity: 1358

Merit: 1016

What is the reason for this drop? I’ve seen lots of FUD in my time... but this??

This is plain stupid.

mindrust

legendary

Activity: 3276

Merit: 2442

repeat after me,

-1 bitcoin is still 1 bitcoin.

*It is just not $20k anymore no big deal

Lopumbo

full member

Activity: 196

Merit: 102

its getting ridiculous

bitfinex: 9010$, gdax: 8600$

Biodom

legendary

Activity: 3892

Merit: 4331

Here is my take:

1. I want to have more crypto in eventuality (longer term).
Lower prices would mean that I would need to spend less fiat to get it.

2. If someone thinks that $450bil of a new asset class is a "bubble" with more than 100tril slushing in stocks, etc, I would politely disagree.

3. who said that you have to sell for fiat? I am already using the correction to reshuffle the crypto portfolio to focus on those that in my opinion are more likely to persevere (bitcoin is one of those).

That said, my oscillation theory says that the ultimate low is at around $7113, but whether we get to it in the current downswing or much later remains to be seen. A dip to around here or $8K with a fast rebound is also possible. It thought that the latter is more likely, indeed, but we are driving down a bit too fast.

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

Quote from: FractalUniverse on February 01, 2018, 02:56:27 PM

big volume around 9k on finex. this will be interesting whether it can hold or not

They already showed their cards and made it too obvious the exchange is a complete scam by fabricating all this enormous buy support around the $9k area when other exchanges are $300 lower. There was absolutely no reason for anyone to waste like $50+ million defending that level when other exchanges had long busted through it. This means they're just printing Gox dollars out of thin air to try and defend price all the way down while hoping they can con people into believing they're the legit market maker exchange that sets price.

edit: other exchanges now $400 lower while Scamfinex continues to print Gox dollars out of thin air and defending $9k

toknormal

legendary

Activity: 3066

Merit: 1188

$7500 is the big support level. The bubble started around $8200.

Lopumbo

full member

Activity: 196

Merit: 102

the real cash exchanges lead the drop GAX and bitstamp: 8700$, kraken: 6900€

but there's likely some arbitrage going on between all of them, look at the tether-bot at kraken, its the biggest scam in crypto ever, and its unfolding

FractalUniverse

hero member

Activity: 1034

Merit: 558

Quote from: Lopumbo on February 01, 2018, 02:57:42 PM

Quote from: FractalUniverse on February 01, 2018, 02:56:27 PM

big volume around 9k on finex. this will be interesting whether it can hold or not

bs thats likely fraud...you can even buy it on binance cheaper with tether
i just watched the exchange and it just haltet at 9000$ with amount: 0

the question is which exchange will lead the drop or start of the rally.

anyway, the levels im watching besides 9k.: 8800 as even larger support, and ~9250 resistence

toknormal

legendary

Activity: 3066

Merit: 1188

I think the idea of "Guvs" and big banks was to buy up all know bitcoin in sight during the last 8 months of 2017, drive the price up to kingdom come and then slam the market into the ground in attempt to destroy confidence in bitcoin as an asset.

They had to do that to avoid the worldwide debt bubble being "pricked" by bitcoin.

May or may not work.

Lopumbo

full member

Activity: 196

Merit: 102

Quote from: FractalUniverse on February 01, 2018, 02:56:27 PM

big volume around 9k on finex. this will be interesting whether it can hold or not

bs thats likely fraud...you can even buy it on binance cheaper with tether
i just watched the exchange and it just haltet at 9000$ with amount: 0

FractalUniverse

hero member

Activity: 1034

Merit: 558

big volume around 9k on finex. this will be interesting whether it can hold or not

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: realr0ach on February 01, 2018, 02:42:06 PM

Gox scam vs leveraged illiquid asset pump and dump scam. Take your pick.

I'll take flat out Gox scam.

Wouldn't be much point in the Winkies doing that on only 1 exchange.

Lopumbo

full member

Activity: 196

Merit: 102

haha 600 buy wall disappeared Cheesy

podyx

legendary

Activity: 2338

Merit: 1035

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

The only plausible explanation for what's going on at Bitfinex right now (because bid support is far too high compared to other exchanges) is they're either a flat out Gox scam printing infinite money, or someone like the Winklevoss who are sitting on 200,000 illiquid asset coins they can't even sell want to try and prop up the price but they have no intention of spending a cent to try and do so, so they send all their coins to Bitfinex and use it as margin collateral to constantly put up support wall after wall that gets dumped on. Using an illiquid asset you can't even sell without imploding the entire market as collateral would make the whole thing a giant pump and dump scam anyway, though.

Gox scam vs leveraged illiquid asset pump and dump scam. Take your pick.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14800. (Read 26686457 times)