Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17864. (Read 26609889 times)

If I put in a buy on bitfinex at 30k usd/btc with a volume of 7.5mil = .4% x btc at830. Do I raise the btc price on the market by 3.32 usd/btc

my speculation about the what happened:

1)when chinese exchanges hit new ath a cascade of naked shorts and fucked up max leverage setup caused the first dive. okcoin and others couldn´t handle the traffic anymore, traders couldn´t log in, fortunes lost.

2)some of those traders are high ranking members of the communist party (or their kids). they called papa or mama and cried because the got goxed by okcoin.

3)high ranking party leaders grabbed the phone and called PBOC to do something.

4)PBOC stepped in not to ban bitcoin, but to safe bitcoin (well, safe the crypto kids from getting goxed again - no more naked shorts, no more 100x leverage)

5)media learns about PBOC visiting all chines exchanges; bitcoin community gets the buzz words PBOC, chinese exchanges panicking nightmare of 2013 OMG SELL ALL THE COINS causing the:

6)second dive.

7)everyone freaks out because of 2nd dive. fears of 14month uptrend reversed in a few days. btc FUD spin doctors step in OMG sell all teh coins:

8)third dive

9)slowly the community begins to realize that china did not ban bitcoin.

That is a good good reason NOT sell anything i get from mining.
I am sure many others who mine until now will do the same...
I expect a big impact on the price upwards.
I think in 2 weeks from now the price should be at 900€ about.

Bitcoin Difficulty:   336,899,932,796
Estimated Next Difficulty:   380,176,964,299 (+12.85%) 
Adjust time:   After 1113 Blocks, About 6.8 days

The small pump happened, so far seems to favor the bullish scenario. But remember, the PBoC can trash the bullish TA anytime.

The next several hours (from now) are critical. If we'll have more dumps and test (might even break) support at 5200 CNY, even if it will bounce, a very bearish scenario would become possible.
If however there will be a small pump (that would hold for a while), then further support testing is unlikely to break and should result in a large triangle that should break upwards, with target around 8000 CNY.

Man, if we go 10x from here..... there are going to be some happy & retired relaxed people

Yes, look back to the last 18 months as plenty of time to buy sub $800.

Edit:
Since the price is going 10X higher a few bucks should not be a worry to such a Hodler as yourself.

Yes, look back to the last 18 months as plenty of time to buy sub $800

is it too much to ask for one last sub 800 buy opportunity before the bear trap closes?

you guys are so bearish.

When complex systems collapse, they devolve into simpler ones.  They never jump into a higher tier of complexity.  Complex systems also tend to require exponential resource (energy) curves.  Peak conventional crude oil already happened in 2004.  Peak working age demographic already occurred in every nation that matters.

Wealth comes from people doing work in the real world, not shuffling around papers.  That work is either done from things like burning fuel to do the work for you, or humans physically doing it themselves.  With both working age demographic and energy output declining, people will be spending more time and effort doing work for the basic necessities and nobody is going to be overpaying people for shuffling numbers on a computer unless it involves something to do with solving the energy problem.

"Excess" energy is why a day's wage in Rome was a small amount of silver and why it's a larger amount of silver now.  Instead of humans having to dig it up, the work was being done for free by machines, thus devaluing it's worth.  But, the time of arbitraging "free" energy into depleting all resources like metals as fast as possible is over now (that and the fact peak metals is occurring regardless the state of energy).  Unless fusion power solves all these problems (not likely because fusion is actually low EROI), then we already hit peak energy, peak cheap metals, peak cheap food, and this energy arbitrage scheme is ending, possibly in a Seneca cliff.



Here's one example of such a chart.  Remember that all wealth is based on energy output since abundance is really just machines burning fossil fuels to do work for you instead of you doing it.  In the gas sector, the high energy yielding conventional stuff is all cratering, so all they did was grab more of the lower return on investment stuff to try and compensate (same thing in the oil market).  So, as this cycle continues, your civilization's wealth continues to decrease until you get to the point of borderline thermodynamic collapse if it uses as much energy to drive the shale oil to market as it does to extract it (and shale is low return on investment).

So, I hate to rain on your parade, but there is no so called knowledge age unless there's some type of enormous energy breakthrough.  Russian govt energy analysts see things getting really bad by around 2020 and say there is no technological solution in sight.  There is no coming out on the other side of the monetary reset with some type of "utopia".  In fact, one of the reasons it's currently crashing is because it relies on infinite growth and the energy situation prevents that.

Bingo!




I am still amazed that you seem to flip flop more than a game of pong.

QnVsbCB0cmFwIGNvbWluZywgbmV4dCBydW4gdG8gfiQ5OTAuIElLUg==

Or else this enormous cup requires a proportionally large handle, in which case this clambering up and dripping down could continue for months?

you guys are so bearish.

this is a bear trap and it will close...eventually but not 6 months from now...

I look forward to showing my support again sub 800

Or else this enormous cup requires a proportionally large handle, in which case this clambering up and dripping down could continue for months?