Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26019. (Read 26609500 times)

Congratulations on being the most recent in a long line of thousands who have predicted the end of bitcoin. There have been many before you and there will be many after you. Thanks for being a part of it all.

There will always be "end of worlders" and there will always be "end of bitcoiners."

I think everybody is just counting on Wall Street attempting to pump this puppy one more time, which they have the power to do, so they really might convince people that for some reason this time is different... and then wham!!! They'll take everyone who is still left over's lunch money. The question is whether this is the last pop before the lunch money gets stolen, not whether lunch money will be stolen.

I was put in solitary confinement for insanity, and the voices I heard made me promise to be the last moving thing in the universe so that my death would mark the beginning of the fourth dimensional universe.

Nobody will be left out of heaven. I promise.

I think we are losing adoption NOW.  User numbers don't seem to be rising at all, and the main complaint is losing money on their investment.  I literally know no one else who owns coins anymore.  This manufactured drop from $600 is killing the tech. (Tes, exchange rates matter, trolls.)

Note that game theory says the price will trend to zero.  As long as there are hundreds of people with enough coins to play the dump game, one of them will continue doing it to make their extra 20 or 30 coins per day.  If you gave me 3k btc today, I could guarantee I would have 6k in 90 days.  The game is too easy.  

Those posters who say that the only people who care about the price (exchange rate) are get rich quick dreamers are deluded.  If I could buy a laptop with 2 bitcoins 3 months ago, but now need to use 3 btc, there is a serious problem.  And as long as 99.9% of goods require USD to purchase, the exchange rate is important.

I left out one point before: look at how much concentrated effort it took to break through support at 500.  Thousands and thousands and thousands of coins dumped to break support and make the dump game possible again.  How many of the big guys had to help to break through?  I sincerely thought it was impossible to reach 490...forgetting that there are single individuals with 50k coins who could wipe out the entire order book.

Now, explain to me how it is possible to have another bubble.  It will be a race to see who can dump fastest and hardest to make the biggest percentage gain on a thin order book.  IIRC, to cut the price 40% in November only took a 1k dump; stops triggered, margins called, panic selling, huge profit with no risk.  They won't be able to control themselves when the opportunity arises next time .

I will say this with all honesty: I no longer believe btc has any chance of being a serious currency due to its users.  I have always been a short term agnostic and long term bull.  I am full bear now.  I doubt that we will ever see 700 again, and 300's will be here soon.  The big guys are warning everyone everyday that they want lower prices.  Believe them.

that is possible when your atoms (or what is left of you in atoms) are about when the heat death of ther universe happens ..they may well
be the last to vibrate! (good to have goals)

Searing

Explanation

You couldn't stop me from being hopeful. I volunteered to be the last moving object in the universe, and was accepted.

I want 420 and I'm going to keep on raging about it till we get there  
Either that or a new All time High of course.

Oh and got my newegg stuff want a promo at 1K a Coin 

I think that the world is coming to an end and that this is going to test new lows. Resultantly, I know that the worst of it is over and it is now safe to buy. Whatever I think, do the opposite.

I remain optimistic.

Explanation

Magic Beans for sale!!!!! $10,000 a pop!

Something to note, we just passed the halfway point between the previous block halving (210,000) and the upcoming one (block 420,000), that was at block 315,000 ...

... the psychology of the market is from now on we are closer to the point of 1800 btc/day than 7200 btc/day inflation rates. If the market is adept at smoothing those lumpy step changes in issuance by pricing in demand/supply imbalances over long periods ...

Explanation

yes, and the cost to borrow coins isn't much.

How can people short?

There is a mechanism for people to short what they do not own?

Why do people consider me a bear?  

Although I am as skeptical as ever about bitcoin's ultimate success, I have said many times that I won't dare to guess what the price will do in the short or even medium term.  I can see scenarios where it may drop to ~150$ or less (e.g. China dumping everything and dropping out of the market) and scenarios where it may get over 1000$ again (e.g., a lot more demand in the US/Europe), although I would rather not guess the probabilities of those scenarios.  

The guess of a bottom at ~450$ is based on the fact that the price appeared to be stable at that level from Apr/28 to May/20, and bounced at that level on Aug/18. My tentative interpretation of those facts is that
* 450$ is the "consensus" price that the Chinese market found after the PBoC stopped interfering with bitcoin;
* the rise starting May/20 was due to rumors of some impending positive develpment;
* the fall from Aug/10--18 was due to those hopes being deflated; and
* the bounce after that was just a "dead cat bounce"

The Bitcoin Collective is slowly assimilating him.

feels like the shorts are big part of the reason why price is this low...people will keep shorting(its working for them so...), price will drop... i dont see them getting squeezed anytime soon, they seemed determined.  but other shorts are covering when price drops, and new buyers buying,its just more and more pressure building. 500 felt pretty rock solid, i think we will see 500 again, but shorts gonna keep shorting the short term.

Explanation