Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18085. (Read 26608642 times)

Christmas?... We shall break 780 within next 48 hours.

O.k.... fair enough.. .Christmas is two weeks away, and I would be quite surprised if we are still pushing in the $760 to $780 range in two weeks... but yeah, you could be correct that if we are in the $760 to $780 range, then that is not necessarily a good sign for breaking to the upside.

Sitting near resistance without breaking through it usually means it's bearish and vice versa for sitting near support.

If we don't break through 780+ before christmas, I will be cautious.

Logarithmically speaking, we are right on track....





Enjoy the next rise.

If u ever traded stocks u would have known that some people be inclined to wait a minimum of 3 days for a totally confirmed breakout.

Ur wording etc "monotonous" would have been considered right if u had traded a chop.

BTC havent been choppy for two months, quite the opposite - it has been in a steady uptrend.

With unmeasurably faster cycle than that in most stocks, bitcoin is nothing compared to West Texas Oil which, for example, had experienced a 4 y long chop before it crashed hard summer 2014.

Hmm. It will be nice if the pice of bitcoin hit 804$ but the question is. Are you totally/wholly sure of your prediction?

It's been years since I've used an exchange. Indeed many of my purchases have been from private individuals "on the street" (actually securely behind closed doors).

More recently there has been an explosion of BTC ATMs in Toronto and fees have plummeted considerably. I used to pay 5-7% and figure it was worth it because half of that represented what it would have cost me in exchange trading fees and fiat transfer costs, and I was buying convenience and anonymity.

Now i have my choice of 3.5% ATMs within walking distance of my home,including one just a block away from the Skydome which I attend regularly during the spring and summer.

I can even buy or sell up to $100/day for only 1% at (strangely enough) Deloitte, the esteemed corporate accountancy/services firm, albeit with no anonymity. The daily limit isn't much good for buying the dips when I usually try to buy at least a whole coin or more, but paying a mere dollar to buy $100 fiat is great if I'm short on cash and I'm forced to part with a little bit of Bitcoin.

The point I'm trying to make is that not only are people moving beyond the exchanges and banks, but independent operators are competing to fill the gap. The fact that someone as big as Deloitte is aggressively joining the competition speaks volumes.

I'm not big on technical analysis being applied to something as manipulable as Bitcoin, so I can't comment on its terminology.

I will say that I also see this phenomenon as bullish, but that's not surprising. I wouldn't be an accumulator/holder if I wasn't a permabull long-term. Luckily Bitcoin has (with the exception of 2014) proven me right.

The tinfoil-hat conspiracy theorist in me would like to believe that it's all a choreographed dance, orchestrated by a few extremely wealthy individuals or groups to accumulate large Bitcoin holdings at the expense of amateur traders.

The realist in me wants to believe it's just a natural market dynamic. Keep battering away at a resistance point until it's broken, move up another leg, have a correction/profit-taking/(manipulation dump?), establish a new higher support level, then head back up to the new resistance point. Rinse and repeat.

Either way, I see it continuing upward for now.

I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through.  Does anyone have any solid theory or technical analysis terms for that dynamic? 

I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s?  Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc...

Good AM Bitcoinland.

This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.

As expected, $780 has proven to be a formidable barrier.

Maybe this weekend we'll see some real movement.

So now that you (and I) talk about #pizzagate, what's gonna happen?  Theymos is going to ban us here?

Did a google search on pizzagate, got over 5 million results. What's going to happen with those?

https://www.google.nl/search?q=pizzagate&oq=pizzagate

#conspiracy (to stay on topic)

I did a lot of calculations based on various factors and market caps to try and find a realistic Bitcoin ceiling price.  I can't recall them all, but think I came up with anything from:

- 250 billion if there were around 4 different dominant chains (or maybe 1 trillion for a single chain)

- 420 billion ($20,000 per coin)

- around $7000 - $8000 per coin if every millionaire hedged 1% of their wealth in Bitcoin.  But that would be a fully liquid, fully capitalized market where everyone can cash out, so it would likely be something 10x higher than that at $80,000 per coin or $1.6 trillion market cap

I believe there's also only around 2.5 billion ounces of investment grade silver bullion sitting around (but estimates of 10-20 billion total in existence, not investment grade bullion though), so the silver market cap is only like $42 billion.  I think it would be very strange if the Bitcoin market cap went higher than silver.  When the shit hits the fan, or they implement a new Bretton Woods to revalue gold, they will have to set the gold price to something around $20,000 an ounce at 40% backing (the historical backing ratio).  The price of silver will likely spike to anywhere from $666 - $1333 in said event (15-30:1 GSR), so the market cap of Bitcoin going "too high" compared to other assets isn't really a problem when things like metals eventually break free from banker manipulation.

In other news, the govt really doesn't like #pizzagate, so whatever you do, don't say anything about #pizzagate anywhere because the govt specifically forbids you to talk about #pizzagate.

lol

Adam's favourite sort of joke bitcoin price prediction was $32,000. Let's hope that bears fruition in the next 5-10 years. I think we'd all like a piece of that pie


Just the beginning my friend.

The Last Bulltrap or is this gentlemen?

OP doesn't post here anymore (account got hacked). Don't know who else could change the poll - mods perhaps? Polls used to be fun.

Some day people will think Adam just forgot the zeros at the end of each voting option.  

it's gonna be a legitimate historical artefact for the years to come. let's celebrate it.

This seems to come up every other page, but Adam (the OP) lost access to his account, so that poll is going to stick for eternity until the situation changes.

Another great example of the limitations of their system, where permission must be sought, and where one's money is not truly one's own.