Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18420. (Read 26711510 times)

ETFs have been held responsible for the rise in gold up to nearly $2000/oz, as they opened up investment to the market from participants who wouldn't have dealt with the underlying asset.

I think the problem here arises from paper claims not being backed by actual assets - Bitcoin's transparent ledger should provide a simple and incontrovertible means to assess an ETF's holdings however.

Total Reduced Supply since halvening = 25,000 btc

That's slightly more than the much ballyhooed 24,000 the australian authorities 'auction' of confiscated coins that was "dumped" on the market ...

888 by September
1000 by October.

Thoughts on how the ETH hard fork may affect fundamentals? Does it affect BTC? Does it reflect badly on all cryptocurrency -- since it breaks immutability for the sake of a bailout?

It was a sad sight is all I know.

Sideways trading...always sets the stage

That's what I told him like a month ago.. LOL!

*Edit: His sh!t is so hard to read that most of the time I just skip his messages if they are longer than 2-3 lines... or read the first 1-2 lines if he makes them entertaining... then I might find myself reading the 4-5 line of words. But depends on the situation... I usually skip him... Them walls of text that he puts up are just outrageous!  

In this above post, you are making a few statements that could be misconstrued, and maybe the strategy that you suggest is a sound strategy that works for you and could well work for a lot of other folks, but I would not characterize your approach as the "best strategy" because that seems to assume too much about the particulars of other folks.

First, you suggest to "never trade any of you bitcoin holdings," and that seems really problematic with a very volatile asset, such as bitcoin.  There are quite a few ways to trade your bitcoin and in a way that allows bitcoin accumulation, and to lessen volatility risk, and sometimes, there are just pure profit arbitrage opportunities really great odds to sell and buy back and to accumulate more coins... So, "never" seems to be a very misleading concept.

Second, I am not opposed to the concept of buying on dips because I engaged in that practice for more than 2 years starting from November 2013, and we know that there has been a lot of "dips" since then, but I have never bought "on margin."  When you say "on margin" are you suggesting to leverage?  That is very dangerous and can be complicated to employ.

Third, when you say "if price goes up, gradually take profits" that means selling some of your bitcoins, no?  There are a lot of regular folks who don't want to deal with margins or leverage, so your assertion that this method is "simple and effective" seems misleading to me.  Maybe it is just me, and you can explain a bit more why it is so "simple and effective" when I am having difficulties understanding what you mean?

You make little sense in the above patronizing commentary, except perhaps you simply seem to be failing/refusing to recognize merit to any style or content beyond your own.  You may want to consider that you are not the center of the universe, so it remains a bit presumptuous to presume that others are interested in following your specifics beyond discussing post contents, here and there.  So in that regard, it may be best to shed conceptions of yourself  as some kind of insightful quasi-deity?  

Yes, each of us has opinions and styles of presentation that we exercise within our discretion.


Maybe substantively, I could give you a chance, here?

I do agree that between 6/22 and 7/1  were the most recent highs and lows of $540 and $704, respectively, and I suppose that there could be some method in the madness in choosing those price points as general guidelines to come up with your own rough trading range to figure out probabilities and what seems kind of realistically probable within that range.

Can you explain what you mean when you refer to taking profits? what percentage of your BTC portfolio are you trading when you "take profits"?  Are you trading only your profits or some portion of the principle, too?  How do you actually apply your selling of BTC in practice because BTC prices have not returned to $700 nor to $600?  $684 was the high on 7/17, and the price certainly has not returned to $600, except it came close on 7/7.. but lower $630s has been about the best low that you could get in recent weeks.  On the other hand, I understand that BTC prices could revisit $630s in the coming week?  Still to witness this, but the chances of getting into the lower $630s seem pretty good in the coming week, maybe slightly better than 50%, no?

Must agree...always trade the profits IMO ! Which for some are huge...

Bitcoin isn't going anywhere soon imho

But there is no price movement and everyone knows the actual price, $650 and going back to $666.

Not much to talk about this

Best strategy is to never trade any of your bitcoin holdings.

Wait for a small dip. Don't be greedy, buy small part on margin. If price goes further down gradually increase your long position. If price goes up gradually take profit and covert your profit in bitcons. That's it, simple and effective.

Tru dat brotha ...

I saw the high and low between 6/22-7/1 and decided 700 would be the high and 600 the low for the next few weeks until the bb tightened up! Started selling my profits a week before and haven't decided what to do yet

Dude..chill and stop writing a book!

Pro tip...keep it simple or you lose reader interest!

Lots of ppl like me posting my opinions that's why I do it...And if u read my history and follow the thread u will see that.

Winklewees...? Lol! Gotta hand it 2 dos Winkleweenie twins yo! Day made Facebook...da us gov Luvs fb soon day wil luv btc...not 

Disclaimer:jimmy buffets margaritaville tequila is helping type 

True at times but there is a lot more towards the price of an asset with a 10 billion USD marketcap than a bot of media stories.

What percentage of your BTC holdings are you trading on these kinds of swings?  100% of it, or some lower amount? 

I doubt that anyone, besides yourself, gives a ratt's ass about your purported and self-aggrandizing BTC price predictions.

By the way, if you keep predicting that BTC prices will go down, sooner or later you will be correct, especially when your predictions are so modest of a percentage drop.... (less than a 5% drop from the lower $680s?)  yet that does not mean that guys should have sold at $670 or $680 merely for the possibility to get coins at less than $650... Strategies need to be more thoughtful and less gambling focused than that.

Regarding your point about getting BTC from me or other "cronies", whoever those are?  Don't know what you are supposedly referring to.   There are a lot guys that HODL, and they do not sell as the prices go down, as you seem to be suggesting.

For example,  I have a strategy of selling as prices go up, and then buying as prices go down, so I did make some sales in the $660s, $670s and $680s, and thereafter some purchases of BTC most recently in the $650s and $640s. 

Probably, you just want to name drop in order to attempt to make your posts appear more connected to some kind of self-imagined reality (that doesn't in fact exist) rather than your tendency for more obvious merely fantastical trolling whims

Elwar's military. He probably knows a bunch of way to kill a man.

Then you would need to be very careful down there. It's not easy to live there even (and, maybe, especially) if you are rich. Lots of kidnapping and bad things going on. Mmm, no not a wise move

Yes and no. Yes in the sense that there may be correlation, and no in the sense that this doesn't imply causation.
Bitcoin is a speculative commodity, in the widest possible sense: it exists to be speculated, that's its raison d'etre. News of failing governments, failing economies, failing banks -- pretty much any and all societal failings -- could be, and typically are, used to bootstrap pumps.
Hence correlation.
This does not mean that the price is driven by world events (as in Greeks buying BTC because Grexit, Brits buying BTC because Brexit,...or Pakistani buying BTC because Prexit.