Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16997. (Read 26716514 times)

No.
Those half a million dollars are bought and sold against bitcoin every day. They don't stay in bitcoin.

any expert here with some graphs and with some levels to monitor?

Um I have a theory for the latest correction. Yesterday I read about the busting of AlphaBay and at least one of their admins. The article went on to say that they averaged around 600~800k in sales daily which in my head is a daily support of some 500k. Can this have some correlation with the price or not? I mean getting half a million dollars off table every day is something.

I wager that we're going sub $2k soon. Question is, are we going to bounce off $2k for a while or plough right through it first go?

BTC soon below 1800 $

Good article on what dates to keep an eye on.

https://bitcoinmagazine.com/articles/countdown-segwit-these-are-dates-keep-eye/

It looks like BIP91 will be a better way to activate SegWit next week as it would have miner support. BIP148 just kinda forces their hand to do it themselves first.

After losing some coins trying to short alts and on top of that losing $ value for btc I sold everything.

Hope price reaches sub $1000 before August.

Buying on 1st August will be too late. Most sellers will try to close their shorts way before that date.

Not entirely, no. There are technicals at play as well as an unsustainable bubble in alts (adding fuel) that had to at least consolidate if not end in tears.  So, a downturn after a nearly 3K high was probably inevitable for all sorts of reasons. 

However, the Bitcoin scaling scrap nearing civil war and potential fork etc. does add uncertainty. You must admit a potential fork is hardly going to inspire any confidence, especially in a market that has apparently peaked right now.

I hope it is an anticlimax - but talk of taking BTC off exchange and fear of the uncertain are hardly 'nothing'.  You can argue it's an excuse, but given what *might* happen, will you be surprised if Bitcoin flails around trying to discover a price over the next few weeks?

You have often (recently) argued BTC is not volatile.  I disagree with this.  I sold a fair few at a decent time to do so (it turns out) and I am still not buying back in yet.  The market is jittery and the scaling stuff is not helping at all and will be the focus of what happens, if not the whole reason.

Price will probably drop further after that so you may still have a good buying opportunity yet. August 1 will feature lots of chaos and if you're brave enough and can locate an exchange selling on that day, you may be able to buy some extra-cheap coin.

SegWit2x != SegWit

I also think it's the big guys (miners included) who play again all the drama and FUD just to increase their BTC wealth, meaning moar coins for their cold storage.
Becoin's method of buying some BTC every 10-15% drops is a good way of further accumulation and being be prepared and loaded for the next moon rocket.

I guess it's time for Becoin to ask: "Who sold at the bottom?"

Not selling anything. You lose nothing if you sell nothing x amount of bitcoin's is still x amount of bitcoin's.

I see...yesterday the software for SegWit2x was supposed to be ready for testing but:


So the price is certainly following SegWit activation. The delay made people anxious and the price dipped.

If you mean ...'accumulating' more coin..yeah...

You guys took your profit right? Guys?

When it was announced that Litecoin would use SegWit the price went from $10 to mid 30s. When SegWit activated the price crashed to the low $20s. Then gradually climbed to new ATH of over $50 over the span of a month or so.

31st might be good timing so just luck of the draw, sometimes tied hands is more fortunate then trying to judge situations like this
Yea thats what I figured.  If you want to judge an open market then just imagine what is the most simple action to perform or most straight forward course.   That is to just sell up especially price looks negative and it becomes self fulfilling.   People dont resist these moves, it might be smart to buy into a selling atmosphere but its a small minority who react in that way and it requires a long term view, short term its all red.   The crowd are by definition more lemming like just moving as a mass.
Still got lots of people who dont have a proper account besides various sites they utilise, be that betting or buying or whatever.   BTC is there for using, ideally thats how I view the price background just people incidentally supporting price by holding btc overnight.  Put enough apprehension out there and people will just retract altogether not stop their game and do something boring like organise it into a wallet for some theoretical issue to resolve.   Of course theres lots of full users, but I think many in a BTC holding now are not enthusiasts just users who looking for ease of use not complication, uncertainty, bickering, politics etc.   Obviously dollar is the first source for such things and most convenient.

Looking for an especially negative target, more of a ledge on a cliff. 1600 on kraken is an old loose trend that can come into play.   The decline was slower in previous sells if we confirm below $2100 on a daily candle say

Just checked this in Coin Dance.

http://imgur.com/a/TEBU3