Who sold at the bottom?
This time I only bought the top
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17094. (Read 26583090 times)
May 28, 2017, 11:10:07 AM
This time I only bought the top
May 28, 2017, 11:07:50 AM
Imo, the biggest problem right now is ETH. It was $8 at the beginning of the year. It's so severely inflated, that if it keeps crashing, it's going to keep taking everything else with it. That's what happens when you let a competitor gain too much market share. It's stupid that I find in order for BTC to hold its price, or continue rising, that requires ETH to hold a 13x inflated price (since the beginning of March).
I agree with you that ETH is severely overinflated, esp when I have the belief that it was never to even intended to be a cryptocurrency in the first place and thus hold any significant value. It's been pre-mined to death, and the float is tiny. But even worse, the ETH fans don't even realize that the mining floor is somewhere down around the single digit dollar area, and troll traders took millions of ETH off exchanges for pennies for the last 2 years in anticipation of running it up to the moon. So any weakness in buying demand, or any flaw/bug found, or any exchange hacked, and ETH will get dumped into the absolute ground.
But I disagree that this will affect BTC to the negative or in any way whatsoever. It's completely disconnected. If anything, they'll be trading back into BTC on the way down.
ETC is a better bag ~ eth who is eth? lol ETC is ethereum
rant off<<< 
May 28, 2017, 11:06:46 AM
But I disagree that this will affect BTC to the negative or in any way whatsoever. It's completely disconnected. If anything, they'll be trading back into BTC on the way down.
when it lives on most of the same markets there will unquestionably be a huge effect in the short term at least. bitcoin is only a click or two away from ethereum. i really don't know what that effect would be though.
May 28, 2017, 11:04:50 AM
btc return to being mean
poloniex east coasters trying to run btc short vs. bitpay & yobit of all people touting the great rise to $3000
*stay tuned<<<How does it feel to be poor in 2017 as a 2012 bitcoiner?
https://s-media-cache-ak0.pinimg.com/736x/1f/db/37/1fdb37c8d6e035799249d3e8a4266073.jpg
#keepitreal
May 28, 2017, 11:04:07 AM
lol someone is mad because the price is dropping ??
what a fcking shame
what a fcking shame
Maybe someone is mad because you're not exactly behaving like a gentleman
Never saw anyone getting censored here.
It's mostly trolls that get their posts deleted. It's a speculation thread I don't really think they'll ban anyone bearish just because they're bearish.
BUT if you're bearish and act like a bearish dick then...
May 28, 2017, 11:01:05 AM
lol someone is mad because the price is dropping ??
MEME & GIFS purge.
Legit.
May 28, 2017, 11:00:52 AM
Imo, the biggest problem right now is ETH. It was $8 at the beginning of the year. It's so severely inflated, that if it keeps crashing, it's going to keep taking everything else with it. That's what happens when you let a competitor gain too much market share. It's stupid that I find in order for BTC to hold its price, or continue rising, that requires ETH to hold a 13x inflated price (since the beginning of March).
I agree with you that ETH is severely overinflated, esp when I have the belief that it was never even intended to be a cryptocurrency in the first place (Vitalik himself said that) and thus hold any significant value. It's been pre-mined to death, and the float is tiny. But even worse, the ETH fans don't even realize that the mining floor is somewhere down around the single digit dollar area, and troll traders took millions of ETH off exchanges for pennies for the last 2 years in anticipation of running it up to the moon. Notice that I said troll traders, not people who actually believe in ETH and are long term holders. So any weakness in buying demand, or any flaw/bug found, or any exchange hacked, and ETH will get dumped into the absolute ground.
But I disagree that this will affect BTC to the negative or in any way whatsoever. It's completely disconnected. If anything, they'll be trading back into BTC on the way down.
May 28, 2017, 10:54:46 AM
bitmain's exchange is launched - https://www.viabtc.cn/
i don't see how it's gonna work if you can't withdraw coins. is it just a one way portal for them to get cny and the buyers to get... i'm not totally sure. pboc fun tokens i guess.
i don't see how it's gonna work if you can't withdraw coins. is it just a one way portal for them to get cny and the buyers to get... i'm not totally sure. pboc fun tokens i guess.
May 28, 2017, 10:38:54 AM
lol someone is mad because the price is dropping ??
what a fcking shame
what a fcking shame
Maybe someone is mad because you're not exactly behaving like a gentleman
Never saw anyone getting censored here.
It's mostly trolls that get their posts deleted. It's a speculation thread I don't really think they'll ban anyone bearish just because they're bearish.
BUT if you're bearish and act like a bearish dick then...
May 28, 2017, 10:38:25 AM
btc return to being mean
poloniex east coasters trying to run btc short vs. bitpay & yobit of all people touting the great rise to $3000
*stay tuned<<<How does it feel to be poor in 2017 as a 2012 bitcoiner?
May 28, 2017, 10:35:49 AM
btc return to being mean
poloniex east coasters trying to run btc short vs. bitpay & yobit of all people touting the great rise to $3000
*stay tuned<<< May 28, 2017, 10:28:35 AM
lol someone is mad because the price is dropping ??
what a fcking shame
what a fcking shame
May 28, 2017, 10:24:28 AM
It's near the mean of a very strong rise that started one month ago. The mean of a rise started in 2015 is around $1350 now. I don't think Bitcoin will drop that low, as it would require a drop almost immediately. The longer this movement plays out, the higher that mean becomes. But whatever happens, I'd rather see a bottom be reached sooner rather than later.
Imo, the biggest problem right now is ETH. It was $8 at the beginning of the year. It's so severely inflated, that if it keeps crashing, it's going to keep taking everything else with it. That's what happens when you let a competitor gain too much market share. It's stupid that I find in order for BTC to hold its price, or continue rising, that requires ETH to hold a 13x inflated price (since the beginning of March).
Imo, the biggest problem right now is ETH. It was $8 at the beginning of the year. It's so severely inflated, that if it keeps crashing, it's going to keep taking everything else with it. That's what happens when you let a competitor gain too much market share. It's stupid that I find in order for BTC to hold its price, or continue rising, that requires ETH to hold a 13x inflated price (since the beginning of March).
May 28, 2017, 09:44:09 AM
btc return to being mean
May 28, 2017, 09:07:41 AM
If it does rally again in the same fashion as you are describing, it will also be headed for a large, deep correction (exactly what happened after 1200). What would be "better" would be some sideways for a while.
We both know that won't happen though.
It will be either:
1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.
2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.
We'll know in the next 12h I think.
I'm betting on option 2
Anyone else care to place their bets?
We both know that won't happen though.
It will be either:
1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.
2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.
We'll know in the next 12h I think.
I'm betting on option 2
Anyone else care to place their bets?
#2 would be the healthiest outcome. I'm hoping for it actually.
I'm also starting to wonder if running up the market is even doable for any protracted length of time. If exchanges are actually running out of coins, then the only way for whales to produce more is to short/dump (force liquidation). Provided that the exchanges have enough coins to short.
If large amounts of fiat want to enter this market, and miners are running out of coins to sell them OTC, they'll have to continually do these "mini-pumps" on exchanges for quite a while, like 6-12-18 months or longer.
May 28, 2017, 08:37:35 AM
https://68.media.tumblr.com/dc2acffbea837dc5277bb1b469aafbb7/tumblr_ngr5vefLfU1tgg4b1o1_500.gif
wake up and rizeee BTCBTCBTCBTCBTC!!
wake up and rizeee BTCBTCBTCBTCBTC!!
May 28, 2017, 08:15:03 AM
That healthy $700 dump was strong but short lasted, bull run continues next week.
May 28, 2017, 07:50:40 AM
As long as there is more (traditional) currency flowing into cryptocurrency than the other way around, BTC price will continue to climb in the long run. I think 'Blockchain' is quite overhyped looking at what the actual applications could be but we are only at the beginning of figuring this out and a huge investment wave (and trial and error, pets.com style). We already had the VC investment rounds. If or better, when investment by the public in decentralised trust commences in earnest, hold on to your hats.
May 28, 2017, 06:40:06 AM
i don't know why anyone here's currently trying to second guess things. with every exchange bursting with new users, the only thing you can be sure of is that the usual traders are not in the driving seat for now.
It's a speculation thread
Edit: Plus, you think adding more sheep will change the behaviour of the flock? That's hilarious.
Some of those 'sheep' might only be wearing the clothing.
If the institutions are sniffing (hell, even CNBC recently mentioned bitcoin as a non-correlated asset) but can't get in because regulations, that doesn't stop their best getting in on a 'personal' level to front run their employers and clients. And some of these folk could scythe through the current whales without breaking a sweat, on both resource and skill levels.
May 28, 2017, 06:21:29 AM
Who sold at the bottom?
You stopped posting that for a little while there. Feeling confident again?
I always feel confident.
On Thursday I've told you that we have 3 days to shake out weak hands before new portion of fiat hits exchanges on Monday. Why do you think this is a loss of confidence?
I must have missed that one, apols. I don't think short cheerleading statements offer much to a discussion forum is all, nor rocket/train pics etc etc. So I'm glad you at least expanded on your normal contribution here.
So, are you an Option 1, or you think it will taper off to more sustainable growth, or something else?
Jump to: