Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18114. (Read 26608813 times)

Much truth and wisdom in these words ... it was never about 'scaling' but 'governance' (they said that at the beginning).

The whole 'scaling debate' is a bogus issue designed to divide and conquer and some of the usual useful idiots have fallen for it. The techno-economic challenge is essentially whether bitcoin can increase capacity and it is doesn't even need to be capacity of transactions, ultimately as long as Bitcoin's capacity of value transacted is increasing, we're golden.

I'm not sure whether it is worth the effort to give any benefit of the doubt to the genuineness of this "down" characterization?

If you are coming up with any kind of conclusion about "down" you seem to be looking too short term, and you need to zoom out a little bit and look at context.

Maybe I can help out a little bit?  More or less, here's our current BTC price context.


In May/June 2016, we had a run up from mid $400s to upper $700s, then we had a close to 20% downward correction that was exacerbated and extended in part due to the early August Bitfinex "hack".

Since early October, we have experienced a pretty steady uptrend and several relatively small corrections during attempts to break through the lower to mid $700s.  

Our current price range seems to be largely floating in the upper end of the range of an ongoing uptrend pressures, largely between $715 and $755 - Maybe it could make some sense to suggest "downwards" if we start breaking below $720 or $715, otherwise prices seem to currently be in an "up" and remain "up", even we are going to experience some near term dips into the lower $720s.

Where do we go from here remains another question that remains bit difficult to determine, whether you are looking at charts, fundamentals or FUD spreading.  

I am personally a tiny bit more inclined to think that continued upwards movement into the upper $700s to mid $800s is more likely than a break below $700, but I certainly would not bet the farm on any such suggestion when maybe the odds are maybe around 55% for up and around 45% for down or something like that.  By the way, once we get into the upper $700s or mid $800s, it would not be surprising to experience a pretty decent battle and downwards correction at that point (even though it is not absolutely needed in order to experience continued upwards movement, such as a 5 to 10x explosion)

So yeah, wake me up and start making tiny assertions of "down" if we break below $720, and you have permission to be more vocal about short to medium term "down" if "downwards price movements" begin to appear that $700 may be tested, again.  

We would only get into longer term discussions of "down" if it appeared that we were to be going below $550 or maybe lower, and with more than a $150 cushion, no one really seems to making those kinds of longer term "down" assertions, yet.

It's gone from $350 to $335. That's not a slow fall of price, that's noise. A slow fall of price is $100 down. JimboToronto doesn't think the price is slowly falling because he commented on the price being almost the same as yesterday. If it goes back up by $15 will you say it's slowly steadily pumping?

Yes, you're right stead fall of price is currently happen but my prediction is that the price will increase last week which it does and my prediction this week is that the price string up from weekend.

i'm watching Navy CIS: New Orleans and guess what they just talked about?

Using bitcoins to sell illegal stuff.

Adoption friends! 

yeah that might be a problem. People digging in their feet for their agenda instead of what's good for BTC. Yeah segwit is great but we won't let it happen because we're upset, i doubt they'll get much empathy from the community that way

Good morning Bitcoinland.

I see the conversation around here has again become dominated by The Great Debate (into which I refuse to be sucked).

Meanwhile the price remains virtually unchanged since yesterday... $746USD/$1006CAD.

Bitcoin soldiers onward.

ViaBTC is attempt to keep price rise in check. ViaBTC wil adopt segwit or Core will raise to 2MB, when the big players are ready for the MOON. The algo won't be changed, that's FUD 

always like this on huobi

nothing new

Nah 2012 passed and we all lived through it

Funny thing about walls...

https://bitcointalksearch.org/topic/m.15222331

I think China Bans Bitcoin would fit the bill perfectly, but they would have to actually do it, like the government actually speaks and passes a law and all of the exchanges actually shut down. It fits the analogy with silk road as 'thing that was perceived to matter a great deal that really didnt'. Bitcoin forking would be another level - that's definitely something that actually matters.

i was wondering what kind of news would need to be used to do the old "silkroad is busted = bitcoin is dead" trick this time around. in october 2013, just before the BIG rise, this news triggered a spike downwards that was really frightening.

not sure if "china bans bitcoin" would work. my guess is it will be some news about a hardfork/split/doom.   

End of the world wall. Demon wars.

It sounds like- buy my coins people- I need to sell   Nice try. ..

unfortunately i agree

market understands now that segwit wont come and instead a long an eventually devastating fight between the two camps

The bear is coming. Run for your lives.

BTC will topught 780-800 within 48h from what i see.

do not be scared, buy the coins people!

well then, go to vegas and bet your life savings on the roulette wheel

This week's price is boring AF.... it goes down and comes back up a little then drop a little and up.... I need some excitement!