All posts made by freebird in Bitcointalk.org's Wall Observer thread
1.
Post 3556862 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.22h):
Anyway we might not be ready to rally just yet. I think the chart ought to do something like this:
I agree. And another day or two of consolidation like this would be good to build more of a base at these levels, before the next big upswing which should peak in the $500-700 range in a few weeks.
2.
Post 3619461 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.24h):
Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.
Here's another quote from the article:
“The FBI’s approach to virtual currencies is guided by a recognition that online payment systems, both centralized and decentralized, offer legitimate financial services,” Peter Kadzik, principal deputy assistant attorney general, wrote in a letter. “Like any financial service, virtual currency system of either type can be exploited by malicious actors, but centralized and decentralized online payment systems can vary significantly in the types and degrees of illicit financial risk they pose.”
I'd say these statements are quite bullish. It appears the "establishment" is okay with bitcoin. Presumably this means the rich and powerful are buying in. Once that happens, it will be unstoppable, because the powers that be always ensure that the VIPs of society don't get screwed on their investments (as much as I hate the fact that this is true, it is).
3.
Post 3643232 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.26h):
Senators Warner and Merkley looked very happy when they were talking about how much the price of bitcoin has gone up. I bet these guys own some! Sen. Warner also compared the significance of bitcoin as similar to cell phones, which is the industry in which he made his millions.
Very bullish hearing so far.
4.
Post 3693403 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
Is that the same guy who said back in May that he had some insider information about Amazon accepting btcs?
why do you trust in new users without proves?
Well, in this case Richard Branson (of Virgin fame who announced that Virgin Galactic is taking bitcoins this week) is on the board at Square, which does the payment systems for Starbucks. So the rumor has good reason to be true.
Awesome.
I don't usually believe these kind of rumors, but this one does sound potentially more credible because of the Branson/Square connection. Anyone selling their coins right now might deeply regret it.
5.
Post 3705116 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
It's Monday here. Market is asleep.
When does the new fiat hit Bitstamp on Mondays? I don't think it's happened yet, has it? When it does, that would be the time to expect a rally to begin.
6.
Post 3705150 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
The technical picture is deteriorating. I'm with reptilia on this one: buy cheaper coins in about 1-2 days.
Has bitcoin
ever rallied to an all-time high and then stabilized right near the top for a few days, and only then crashed significantly lower? That has never been the pattern before. I think the fact that we're consolidating just under the ATH is bullish for another surge to the upside within 1-2 days.
7.
Post 3705249 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
It's Monday here. Market is asleep.
When does the new fiat hit Bitstamp on Mondays? I don't think it's happened yet, has it? When it does, that would be the time to expect a rally to begin.
last times i got it between 9 am and 12 CET (UTC+1)
Thanks. So probably sometime in the next few hours. Cover your shorts, bears... bids incoming!
8.
Post 3705278 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
The technical picture is deteriorating. I'm with reptilia on this one: buy cheaper coins in about 1-2 days.
Has bitcoin
ever rallied to an all-time high and then stabilized right near the top for a few days, and only then crashed significantly lower? That has never been the pattern before. I think the fact that we're consolidating just under the ATH is bullish for another surge to the upside within 1-2 days.
It's exactly like that.
What happened after
this?
That chart shows a consolidation at about 50-65% of the ATH in 2011. We are currently sitting at only 10-15% less than the ATH. I think that's a significant difference, from a technical perspective.
9.
Post 3705437 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.28h):
The technical picture is deteriorating. I'm with reptilia on this one: buy cheaper coins in about 1-2 days.
Has bitcoin
ever rallied to an all-time high and then stabilized right near the top for a few days, and only then crashed significantly lower? That has never been the pattern before. I think the fact that we're consolidating just under the ATH is bullish for another surge to the upside within 1-2 days.
It's exactly like that.
What happened after
this?
That chart shows a consolidation at about 50-65% of the ATH in 2011. We are currently sitting at only 10-15% less than the ATH. I think that's a significant difference, from a technical perspective.
But is that difference good (bullish) thing?
I admit we could be forming a double top. However, I believe it's more likely that we're forming a
cup and handle, resulting in one more big rally to a new ATH, somewhere above $1000. After that, then probably a more significant correction and consolidation period.
The cup was on Nov. 19-20, and the handle is the last two days. See
hourly chart.
10.
Post 3741963 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.30h):
yes, mbtc is the answer. it has to happen, otherwise we are screwed. people are afraid anyway since they are investing in something abstract digital "protocol". now if this in what they invest is so abstract and on top of it below 1, a fration of 1, not even 1 - then they will not buy it. psychological barrier...
I read on reddit yesterday that Bitcoinity is apparently going to change over to mBTC. He said he would make the switch after 1000 was passed. mBTC would be the default with the option to turn it onto BTC. Hopefully Bitcoinity can help start the trend.
This is excellent news!
11.
Post 3742128 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.30h):
Yep - it's out of date, I was joking - but why not set a new target we can hope for?
m
BTC 1 = $2 by 2013-12-31 23:59?
Easy way to pronounce mbtc?
"embit" "milli-bit" ?
I like millibit. It rolls off the tongue.
12.
Post 3863479 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.33h):
I think the bottom is in. Panic buying could start very soon.
13.
Post 3863511 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.33h):
can't wait for all the panic sellers trying to buy back in
I think it's going to start very soon.
14.
Post 3868956 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.34h):
I wouldn't even own a car if it wasn't for me living in a bumfuck town. I'm 24 still living at the parents because I want to save a lot of money (and be able to invest it stuff like bitcoin), while my peers all live by themselves throwing away money on rent or an overpriced mortgage. Fuck that.
Hah, the only friends I have who invested in Bitcoin are the ones who live alone. The ones living with their parents generally don't worry about money yet and think Bitcoin is 'a stupid scam'.
Wow, that's really unfortunate. The reason to live with your parents when you're young is precisely so that you can save and invest the money that you would otherwise be paying for rent. If they're not going to invest, then it's not worth the social sacrifice.
15.
Post 3872319 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.34h):
price appears to be stabilizing.
bears failed to leave any wall behind their panic selling
tomorrow will be fun.
also 2k waiting to buy till 650 seemed to stop the last attempt
its always the same story just with a different price.
I have a feeling we are in store for another week or two (or month) of bad news. Its just a hunch. If news were a stock, it is still way over bought on the "good news" side. These things tend to happen in cycles.
Also, does it really feel like capitulation to anyone? I mean, yeah we could make a run for $1000 again, but who is buying above that right now?
We need some sentiment shift. We NEED as many bears as we can get. I say this with 60% of my bitcoins in storage that I will not touch for a long time. So, yeah, our net worth goes down. But let's ring out this towel. How about we go to $400. Why don't we have a decent % of traders jump ship.
Let the news cycle pan bitcoin. Let bankers and banks mock it and scoff at it.
We need some pain to even things out. Let it go down, consolidate for AT LEAST a month or so and let doubt set in with many.
Then we can find joy in going up again. Once its no longer expected.
Yes. Consolidation in the $400-700 range for the next couple of months would be very healthy. And I suspect that's exactly what will happen (although I'm guessing the bottom is more like $500 instead of $400, but we'll see).
16.
Post 4065525 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.44h):
What this $4k wall tells me is that somebody with big money is trying to make the market go down so they can buy cheaper coins. I see it as (1) blatantly obvious manipulation, (2) bullish.
17.
Post 4065640 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_11.44h):
China really does look anemic.
Actually looks pretty strong to me. China has held up pretty well while the other exchanges have been going down steeply. Now China's price is similar to the prices everywhere else. I'd say that's a bullish sign.
18.
Post 7259636 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_12.52h):
Early signs of other exchanges ignoring and becoming disconnected from stamp as they know that there is irrationality (read: inside trading) going on.
I've been seeing a lot of posts recently claiming that Stamp is going the way of Gox, etc. What is the basis for this claim? Just because the Stamp price is $10 lower than other major exchanges, or is there actually some real evidence to suggest that there's corruption or other problems going on at Stamp?
19.
Post 7259832 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_12.52h):
Early signs of other exchanges ignoring and becoming disconnected from stamp as they know that there is irrationality (read: inside trading) going on.
I've been seeing a lot of posts recently claiming that Stamp is going the way of Gox, etc. What is the basis for this claim? Just because the Stamp price is $10 lower than other major exchanges, or is there actually some real evidence to suggest that there's corruption or other problems going on at Stamp?
It's FUD. Pantera / Fortress has $10MM invested in Bitstamp. Pantera has a hedge fund with almost $100MM invested in BTC between 45 individuals. They aren't going to allow Bitstamp to ruin that. CALM DOWN.
http://theblogchain.com/news/pantera-bitcoin-bitstamp/+1
20.
Post 7259842 (copy this link) (by freebird) (scraped on 2020-04-04_Sat_12.52h):
Yeah Bitfinex might be a better choice than BTC-E, a very legit operation.
But for the time being I think anything is better than stamp.
The bitstamp/bitfinex spread is getting huge. Very strange.
FFS!!
I'll try to answer here: we used to include Bitstamp orderbook into our own orderbook for liquidity purpose. In other words, we were arbitraging between our own platform and Bitstamp. However as we continue to grow we decided to slowly (and I insist on "slowly" withdraw this arbitraging program to let people do the arbitraging themselves. This is why you started to see a difference between the price on our platform and Bitstamp, as arbitraging for third parties is interesting only after a certain threshold (around 1% like now is not a very good opportunities). http://www.reddit.com/r/BitcoinMarkets/comments/27vq6b/why_the_large_difference_between_bitstamp_and/ci533wg+1