Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ðºÞæ]

This is mt gox all over again.

https://www.zerohedge.com/crypto/chinese-crypto-scammers-helped-inspire-recent-bitcoin-market-carnage

Stop predicting the bottom and start buying if you haven't already. These prices won't last long.

Since this thread is the down syndrome zone, let me remind you of the real elephant in the room:  the entire future of Bitcoin relies on a dysfunctional, designed to be ultra-centralized, hub and spoke, permissioned ledger, bullshit contraption called Lightning Network.  For anyone who is even remotely intelligent and has done ANY type of cursory investigation into Lightning Network, that should really scare you.  For any of Bitcoin's perceived shortcomings or failures whether it's decentralization or anything else, all those problems are magnified ten fold in LN or simply don't work at all/make no sense to use.

I've already written my viewpoint on the subject numerous times talking about how LN is garbage and useless, and it's not just one or two major problems, there's basically hundreds of gaping holes in LN.  Don't have to trust me, do the research yourself.  Probably not the greatest LN thread, but here's one to get started off a cursory search (just read the comments):

https://www.reddit.com/r/CryptoCurrency/comments/9lv7kc/why_would_anyone_use_the_lightning_network/

This is a Bitcoin discussion thread altcoins like Bitcoin Lightning Network (LNX) are discussed in altcoin section

[HairyMaclairy]

Our next inflection point is the long term support line on Bitstamp.  Once again, our tendency to sit on the support line like a duck on an egg, is not a good sign.  When this one breaks it should be a doozy.  But it could also be the capitulation bottom we so desperately need.



Detail:

[fillippone]

<...>
He tried throwing sticks and more yelling to no avail and ended up sitting on a rock some ways off until the badger got bored or had some other important badger stuff to do and wandered off.

Anyway, I shit you not, that's how he told it, I thought that fit here somehow.

Now, the phrase "Honey Badger don't care" has a meaning to me, living in the heavily hurbanised old Europe.

[HairyMaclairy]

Looking forward to seeing which of these lines holds.  Hopefully it is the base line support coming from down below.  

Well the base line is still holding for the moment.  Although the price pattern is not quite what I had in mind.

[El duderino_]

Only 14 days until craig wright will allegedly drive Bitcoin to $0 with his tulip trust stash.  Maybe Mr. Micg can rebuild his Bitcoin empire at really bargain prices.

Let’s hope so if I’m selfish 

[JSRAW]

Hairy, so sideways for this week?

[HairyMaclairy]

Hairy, so sideways for this week?

At our current price we collide with the support line on .... 25 December.  So theoretically could go sideways until then but seems pretty unlikely.

[Icygreen]

awesome snake story

So, totally NOT trying to one up, that was awesome, and reminds me of a little story that I think is appropriate here.
...
Anyway, I shit you not, that's how he told it, I thought that fit here somehow.

I feel like there is a lesson to be learned here but I can't quite put my paw on it.

Don't fuck with snakes or badgers however if the two shall twine, get popcorn bitcorn?

[Bossian]

Hairy, so sideways for this week?

At our current price we collide with the support line on .... 25 December.  So theoretically could go sideways until then but seems pretty unlikely.

Yep, 6k-6.4k area soon, but bounce back after that, January or February.

Forgot who posted this in this thread before but the patterns are extremely similar to March-April 2018.



It's important to note that the bounce back expected will be a failed rally. The bearish trend is still very clear at the moment. Nothing indicates a price above 11k anytime soon.

[d_eddie]

-snip-

d_eddie is going to be overdosing with batman slaps.

I did one for him too.  On another thread.    See this one linked here.

 

Feels good to get it out, doesn't it?

Oh my. That's The-Wall-(of-text)-Above-All! A lengthy battle seasoned with slaps. What more could one wish for?

-snip-

This ones for D_eddie!!!

Thanks Hueristic, thanks JJ. It feels good to see the old Bat still doing his thing.

[HairyMaclairy]

Hairy, so sideways for this week?

At our current price we collide with the support line on .... 25 December.  So theoretically could go sideways until then but seems pretty unlikely.

Yep, 6k-6.4k area soon, but bounce back after that, January or February.

Forgot who posted this in this thread before but the patterns are extremely similar to March-April 2018.



It's important to note that the bounce back expected will be a failed rally. The bearish trend is still very clear at the moment. Nothing indicates a price above 11k anytime soon.

Yes we will have a spike before the halvening.  But the halvening is in May.  It’s really not that long away and the supply side constriction will start to be felt within a month or so.  The idea we will be plumbing some new low in December 2020 is really highly unlikely. 

[VB1001]

Crypto exchange hacks:

2011: 2
2012: 4
2013: 4
2014: 7
2015: 5
2016: 5
2017: 7
2018: 13
2019: 23

https://twitter.com/lopp/status/1206639740428128256?s=20

Who got an exact list on all of them ??

I have a thread where I collect all the hacked exchanges, the list is not the same as mine, but just as creepy, I will review some links that I have put in to update my table.

List Exchanges Hacked

https://asktom.cf/index.php?topic=5090869.msg53368947#msg53368947

[STT]

So theres the recent low of 6500 which is roughly in the same area of several points where we went sideways.   If theres alot of bars ending or starting in a certain price then we presume there is some volume there and likely interest, people will speculate or come into buy as a reasonable place to hold if it doesnt work out immediately so confidence is higher for many who might have sold previously.   But where is the low likely, my take is that when we get pushed back and slip some like 2 bears grappling with each other then we lose our foothold and our grip literally slips in the dirty chaotic price movement.

So I dont expect a clean take on the low really, it'll come and theres going to be greater interest but I think its messy.   We have weaker dollar scenario still in play, no big threat to speculative money is there that I know of.  Its an easy money scenario and Bitcoin is a valid area of expansion and technology interest, global commerce etc.    I do assume we can be pushed into 5000 prices maybe briefly before it gains a foothold or more likely we have a series of lows and each attempt is tried and failed to be negative before bears give up pushing that direction.   People take trades negatively, at some time its just easier to switch about face and guess up instead of down.

My own country has bad currency, the gold price is all time highs though dollar price gold is not near 2011 prices but recently currency value trend flipped to positive.  I have to be more negative on every commodity pricing after local currency is stronger I think.

slow motion collapse

Its revision, its not nearly that negative.   If anything BTC still surprises me how positive it is, sure its down since July but its twice the price since year start and really not especially negative overall.   Criticism of the volatility is most valid but there is alot of factors and many global markets effecting the price is my guess.

[VB1001]

UK’s Oldest Crypto Exchange to Delist Ethereum and Focus Solely on Bitcoin

Coinfloor, the U.K.’s longest-running cryptocurrency exchange, plans to delist ethereum next month, citing an unclear future of hard forks and the need for onerous technical support for the second biggest coin by market capitalization.

https://www.coindesk.com/uks-oldest-crypto-exchange-to-delist-ethereum-and-focus-solely-on-bitcoin

Only BTCitcoin, OK.

[Paashaas]

If you survived Bitcoin 2018/2019 then you deserve the benefits of 2020/2021 bullrun.

[bitcoinPsycho]

If you survived Bitcoin 2018/2019 then you deserve the benefits of 2020/2021 bullrun.

I do

[El duderino_]

If you survived Bitcoin 2018/2019 then you deserve the benefits of 2020/2021 bullrun.

Imagine being here and not surviving 2019 .... how f***ed up would that be

[mindrust]

If you survived Bitcoin 2018/2019 then you deserve the benefits of 2020/2021 bullrun.

Just like those who survived Gox in 2014 bought their lambos in 2017.

I like this idea. No pain No gain.

HODL

[d_eddie]

If anyone deserves to reap any benefit, it must be a superset of these here gentlemen (and ladies, few as they regrettably might be).

[mindrust]

fUCK. right after I fired another 250 bucks today @6900 now its 6750.

I am starting to get maaad.