Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25686. (Read 26608384 times)

Explanation

When the market starts moving as you expect (in this case down) a lot of participants feel validated and believe their own predictions to be accurate. If the majority of bears (who already sold or are short..same thing) predict they will buy in at 350 or below then what is forgotten is that they no longer exert any effect on the market price. (Except by trying to shift sentiment by trolling). The market usually disappoints the majority

I honestly don't understand how you can say this...if it were true, then BTC would be at an ATH wouldn't it?

The truth as I see it, is that since the beginning of the year BTC has had a couple of dips and strong rebounds, however the price doesn't get higher on every rebound which has lead to a steady decline all year.

Don't get me wrong, I'm not a troll looking to spew FUD around, I have some BTC myself, I just don't get it when people don't appear to acknowledge the decline.

Need more cheap coins 

Probably one of the best posts on this forum. Just the facts and none of that "I think..." bullshit.

Its on fire now, up 40 points

We cannot know the future. But we know the past and we can see the present.

What is the past? A couple of dips and strong rebounds over a period of several months. Price gets higher every time.

What is the present? VC money coming in. Merchant adoption. More positve press coverage. Lots of ATMs and increasingly so. Effort to list ETF on Wall Street.

What is the future? I don't know. But I can infer by knowing the past and seeing the present.

Explanation

I'm in for the long haul for sure (see story below)

When I say my avg buy-in price, that is disregarding all the BTC I have mined, and that I have gained (and lost) through dabbling in some alts (made some nice profits out of DRK and others but only hold BTC and XMR at the moment).

BTC would need to go much lower before I start to make a paper loss - if it DOES go much lower though I'm not sure I will invest any more money into crypto - but I will hold all the same. Probably.  




So... Wanna hear a story seeing as everyone else is tucked away in bed?

Too bad here it comes...


I actually got into Bitcoin way back when it was easy to mine with CPU, managed to mine myself a nice little haul of BTC. Low triple figures - but a nice haul at today's rate (even still). Was working in IT support for a large engineering firm and had a lot of spare PCs lying around and lots of spare desks and power points, and a boss that didn't know his arse from his elbow, so I told him I was building/testing a new SOE (lulz)

Then it spiked to ~ $20+ and I got hooked big time, transferred fiat to Gox (before they needed your dox) - bought some at $28 (I think), bought another PC - then it crashed. and stagnated for what seemed like a very long time... I eventually lost faith sold all of them at around $7 each, and bought a snowboard and bindings with the profits and had some spare money for beers etc. Happy days.

Then it spiked again and I could have paid for my whole holiday. Shit...    Time to start mining again.

Then it spiked again to over 1K and I could have paid for everyone's trip.... Facepalm....   Time to get serious mining/trading alts etc.


So anyway - I'm determined not to lose the faith this time, even if I end up with egg on my face at the end of the day.

At $378 was $100 under daily EMA, relative bargian

Wait for Tuesday. 

Explanation

yeah this is the problem...most people imho are at the limit of coin they are comfortable (or uncomfortable) with in their wallets...me I've made (perhaps) the Kamakazi choice
of riding this till the bottom or the top...big time win in the long term or big time beanie baby if the down turn....

so I got 1 BTC today at 380.01 usd and may trickle more in here and there ...either being smart and BTC goes back up or it is in dead cat bounce mode and follow the
market down ..as some say

pretty much either or...but yeah.....except for my NO ROI Titan that I ordered last march when BFL was the Pope rather then Darth Vader...that and running my knc jupiter
down to the 1  year mark before shutdown...i'm out of home mining...at 15c/kwh just can't get the puppy to fly...hosting coincidently (or not) also figures in ..best I can find
at 15c/kwh equiv

so anyway only hope on ROI on the Titan is if BTC goes back up above say around 800 or 900 usd....as to my Jupiter it has to dump to 150 usd (or below 340 if you count the Titan I was scammed on ..."knc will match competitors' what a bunch of hooey

so anyway those that are all in are happy and stuffed those that bought in from last dec at 1000 usd are now bailing imho at 380 usd etc....people from 2013 like me or before
may hang in their till it looks silly to them to

interesting times

so anyway....I'm already in the hole ..buying some bitcoin a bit here and a bit there don't really matter....I'm committed....but sitting in my hole ..holding all the BTC I've ever
bought or mined....

this is either gonna end very well or very badly...if badly man will I have a lot of cheap coin at 10 bucks per BTC what (I'm one sic puppy...frigging BTC cult)

but appetite wise..most of us are in very modest mode and holding ..we need some good news from the ETF by the facebook twins more acceptance in 3rd world for BTC etc
more newbies

but I understand 18% drop 18% diff rise.....(are you crazy .if you suspect your crazy...or are you sane if you suspect you are crazy but really crazy?)

frigging BTC kool aid was strong stuff back in the day

still think we should make a 'last man standing club' everyone contributes some 'dust' bitcoin to get something to commemorate either are weak hopes right now when
BTC goes to the moon or our loss of innocence when it tanks.....but from what I can tell

"I think that this situation absolutely requires a really futile and stupid gesture be done on somebody's part!"...(hmmmm must ponder this....hmmmm)

we even have a coat of arms (stolen from 'animal house the movie") yeah thats the ticket make a 'death mobile float!'



 

I think just being in it for the long haul is a better strategy. Don't get to worried about the prices over months. Look more at a 2+ year investment. Even great companies like Google (great cash flow, hardly any debt) has hard times intra-annually.

I'm keeping the champagne corked for the moment...

I've managed to lower my average buy price a little over the past few days - and more fiat still yet to hit the exchange (hopefully will clear tonight) - but I must admit I've been much more gunshy with this crash. Much more so than ones in the past.

3 months ago I would have thought of this as a fantastic "last chance" buying opportunity, now I'm not so sure.

I've been holding all through this one and only bought a little, but I'm honestly not sure I will buy any more if we do go sub 350.

I will be watching the bounce from this one very closely... I've stocked up on Coffee, Coke..... and bourbon.

Cheers guys, whatever happens from here i hope i get my monies worth...

Explanation

Still plenty profitable for my 2 usb u2+ miners lol.  Takes forever to get a payout though but they have already paid for themselves so its all profit ;-)

Cloudy with a chance of meatballs

Secure the required oxygen now:  Destination moon.

edit: don't mind me, I've just embarked on 14 straight (?) days of Activity: 420 

moon could take more than a 'few' months.