Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21963. (Read 26609079 times)

this is boring!!!

i want to see 100$!!!

i want to see 400$!!!

go go go!!!
 

Do not overestimate the power of registered bids/asks on exchanges. They are vital for an exchange to work. Yet, the power is in the hands of people meeting their offers.

I sense that this new bid wall at coinbase (which was non-existent last night, btw) means that some one, or some group, is afraid the price might go lower...

Otherwise, if I were looking to actually buy mass amounts, I would not publicly advertise such a wall. I would try to buy on the down low and would very much welcome, or rather encourage,  a drop below 220.

Last night's increase in bid depth on both sides has all the trappings of an exchange that is lacking in both volume and customers.

If coinbase could offer some serious liquidity, it might entice some customers to endure their excessive kyc compliance requirements..

(* in fact, it's possible those walls might have been put up specifically to lure some people who would like to take advantage of an arbitrage opportunity to fork over their personal information to create a coinbase account. I don't want to be responsible for libel so I won't comment on the possibility that coinbase is now operating as a bitcoin money-laundering honeypot...  )

I sense that a lot of people want in or want to expand their holdings - but the fear of a sudden dump, coming from nowhere, holds them back.  Bullish!

They are scared shitless, after all those unforeseen brutal pumps and short squeezes in the last time. BTC really looks strong as fuck, 7$ above the last low... Demand is undeniable HUGE right now, everyone and their mother are cleary killing each other to get their hands on those dirt cheap coins! Choo Choo

price are barely moving for the last few days, i wonder what bears really feels right now

That's inflation (specifically, consumer price index increase) in March extrapolated for the whole year.  It is still less than the nominal inflation of bitcoin (~9%/year) and MUCH less than the actual change in consumer price index of bitcoin (135%/year in 2014).


Right, but who was complaining about cherry-picking time windows? Since the irresponsible profligate demagogical Keynesian socialists came to power in 2003, inflation has been around 5%/year.  Did I say that it was less than bitcoin's nominal inflation of 9%/year?

But the past performance is not the real problem.  The problem with bitcoin is that it is a ticket to a lottery with unknown prizes and odds. There is no way of even assigning rough probabilities to its value next month being in any range whatsoever.   It may go to zero in a few days, it may go "to the moon", who knows.

What we do know is that the Top Experts in bitcoin have not the foggiest idea of what the price will do, either.  And what I have learned so far tells me that each of the past bubbles were caused by distinct sources of demand that are already exhausted; so the occurrence of a future larger bubble depends on another source of demand with greater magnitude -- which no one can tell whether or when it will appear.

Therefore, selling bitcoin as a hedge against anything, or as good investment, is scamming, pure and simple.  Trying to sell it to the Third World poor, by telling them that it will make them rich, is a crime against humanity.  If you need another million fools to buy your coins and pay for your Lamborghinis, at least look for them among the wealthy, thank you.