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

[ivomm]

I'm currently thinking three scenarios that would get us out of my own personal consideration of this current bear market and into a conceptual bull market.

1) BTC price rises above $6k and stays there for at least two months

2) BTC price rises above $4.5k and stays there for at least six months

3) BTC price does not break below $3,320 for at least one year

Anyone going to label my tentative "getting out of a bear market and into a bull market" conditions ridiculous?

First of all, Bitcoin is in a bull market since the beginning  in 2008-2009. For a truly bear market we can talk if the prices are lower 20% from the ATH after 10 years or more (this is the case with gold and silver, which are nearly 10 years much lower than the ATH - the so called "secular" bear market). What we have with Bitcoin is a partial case of a cyclical bear market that can last up to 4 years because of the halvings. The actual length of the cycles is much less than 4 years - so far 1 year tops. And even if we use the term "cyclical bear market" we won't be 100% correct, since the other conditions are not fulfilled: widespread pessimism and negative investor sentiment (which actually define the bear market). The reasons for the dips and crashes may be multiple (MtGox dump fear, fork fear, etc.). but are not relatable to the future of Bitcoin at all. What happened in 2015 and 2018 is the most common falling wedge pattern, which is part of the bull market: (https://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_reversal)

"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs. "


So, at some point this year, we will break out from the falling wedge pattern and resume the bull trend. All we need is more volume so the break out will be defended.

[BTCMILLIONAIRE]

Thank you, you are very funny.  As in amusing.  Not odd.  Not odder than myself or anyone else here.  Which is a low bar but I enjoy our group of misfits.

I take great offense to that statement.


Might as well take the opportunity to note that despite our differences I enjoy reading your (non-TA; don't care about TA in general since I do my own) posts. Or perhaps because of the differences.

[Majormax]

First of all, Bitcoin is in a bull market since its creation in 2009. For a truly bear market we can talk if the prices are lower 20% from the ATH after 10 years or more (this is the case with gold and silver, which are nearly 10 years much lower than the ATH - ...



So, at some point this year, we will break out from the falling wedge pattern and resume the bull trend. All we need is more volume so the break out will be defended.

Bear markets dont have to last 10 years.  

You can label it what you like, that's just semantics.

The correction/bear/downwave  will be proportionate to the bull phase. With BTC, it has always been longer in downwave than in upwave.  A study of the  charts reveals that quite clearly.

Way too early to predict a new bullphase this year. It is only a possibility, not a likelihood. Looking back from 2023 we might label it with hindsight.

[LFC_Bitcoin]

mic, I don’t want to piss everybody off & quote your post so all the pics come up again making the page bloated but I just had to say - WOW

Those pics are outstanding, true natural, unspoilt beauty. I am so jealous.

[BTCMILLIONAIRE]

20 years of price changes in the United States...

Notice how government subsidized industries are the most expensive? 😮

College tuition in Belgium

Tuition fees at public universities and colleges in the French Community of Belgium are set by the regional government. For the academic year 2015/2016, tuition fees ranged from 374 to 836.96 EUR per year for EU students depending on their income and whether they are eligible for a grant/scholarship.

There are other reasons.  Don’t blame it on government subsidies

I'm in Europe and University has gone to shit here. The Bachelor/Master system is a complete downgrade and utter disgrace from what we had before in a country undisclosed. University is now school round two instead of being an institution that fosters research and critical thinking (in non-research students - which make up the majority of the student body). I was appalled at how cookie cutter Mathematics and Physics programs are and surprised at the resulting quality of graduates (before I realized the problem).

Also, thanks to university "being" (appearing) free, people who can't normally afford it are taking up bullshit recreational courses that don't produce any value in the Economy. I don't have anything against those and am interested in some of the topics myself. But when people get fooled into believing that they can study anything and get a job there's a problem. And when it's "free" they are ridden of any incentive to think about the implications of their actions.

[El duderino_]

mic, I don’t want to piss everybody off & quote your post so all the pics come up again making the page bloated but I just had to say - WOW

Those pics are outstanding, true natural, unspoilt beauty. I am so jealous.

Yeah..., gonna go tomorrow ... 3 more destinations islands
But gonna stop with the PIC’s for now in this homefront of BTC related talks....

Sorry to all you Guys and readers in the dark, gonna STOP for a few days with the pic’s
But LFC truely make of philippines you’re next destination bro its graven and i’m only saw half of my vacation
Also the 3 days whiteout internet so un stressing its awesome
Directly recommend you what i have already done till now
X (no homo )

[HairyMaclairy]

20 years of price changes in the United States...

Notice how government subsidized industries are the most expensive? 😮

College tuition in Belgium

Tuition fees at public universities and colleges in the French Community of Belgium are set by the regional government. For the academic year 2015/2016, tuition fees ranged from 374 to 836.96 EUR per year for EU students depending on their income and whether they are eligible for a grant/scholarship.

There are other reasons.  Don’t blame it on government subsidies

I'm in Europe and University has gone to shit here. The Bachelor/Master system is a complete downgrade and utter disgrace from what we had before in a country undisclosed. University is now school round two instead of being an institution that fosters research and critical thinking (in non-research students - which make up the majority of the student body). I was appalled at how cookie cutter Mathematics and Physics programs are and surprised at the resulting quality of graduates (before I realized the problem).

Also, thanks to university "being" (appearing) free, people who can't normally afford it are taking up bullshit recreational courses that don't produce any value in the Economy. I don't have anything against those and am interested in some of the topics myself. But when people get fooled into believing that they can study anything and get a job there's a problem. And when it's "free" they are ridden of any incentive to think about the implications of their actions.

I don’t really know anything about European universities other than what I can read online so will need to defer to your judgement. And I agree that many degrees are not very good, but it is still much better to be an art history major than someone who doesn’t have a trade and has never gone to university (and lots of NEETs around).  

[Last of the V8s]

[Syke]

20 years of price changes in the United States...

Notice how government subsidized industries are the most expensive? 😮

Let me help you with that.

[VB1001]

When POMP Hairy?

$6k by December 2019

$10k by mid 2020

New ATH at start 2021

Then POMP

Remember September 2017, everyone expected $ 8k in December 2017

For December 2019 there is a lot of time, BTC + relevant news and FOMO = +/- $ 10k  

(Although BTC is unpredictable.)

[nutildah]

20 years of price changes in the United States...

Notice how government subsidized industries are the most expensive? 😮

Let me help you with that.

That's a funny graph and I get the gist of what you are saying, but the fact is both healthcare and education are completely fucked in the U.S, and they weren't always subsidized by the federal taxpayer (at least not at the levels they are today).

Health insurance in the U.S. is a travesty. Doctors are the new lawyer class, simply existing to rake in as much money as they absolutely can at the expense of the unfortunate. University/college regents rake in 6 figure administrator jobs, along with their department chairs which never give up their reigns until death, even though its at the expense (both literal and figurative) of those they are supposed to serve.

Any time there's a general pool of money that can be easily accessed because the professions doing so are deemed noble or necessary, it will absolutely be taken advantage of and milked dry by those who figure out how to do so.

As a result, education and healthcare are far more expensive than what is reasonable, and the quality of both is on the decline.

[serveria.com]

We're about to leave $3xxx for good (well at least in foreseeable future) go BTC go! 

[bitserve]

The USA is corrupt.  Don’t blame it on government subsidies

You need an IQ of zero to not be able to figure out that education in the US is stupidly expensive because the US govt is underwriting the loans.  It's supply and demand.  There's a finite amount of teachers and classrooms, so if you create loans that anyone can take without putting up any collateral, EVERYONE will take them and cause the price to skyrocket to artificially high prices and then probably implode the financial and education system with it.  

If it was real capitalism, you would have to apply to a private lender without the govt involved and nobody would get student loans without putting up collateral, and yes, less people would get loans, but the ones who did get them would only take a few years to pay them back instead of 20+ years.  People claim the system HAS to exist this way to give a chance of upward ability to black noggers from the ghetto, but that's all a scam.  The system exists this way solely to drive up prices and force people into bigger loans that end in life long debt slavery.

It's a pity that even when you are correct in your assertions you feel the need to include your racist shit on it.

I am quoting you this time because your analysis is mostly right and applies to almost everything where you give the people access to easy credit. Also the same reason why government/states spend money like there were no tomorrow.

[jbreher]

LastoftheV8TrilemmaShills is now filing FALSE REPORTS against me.  ...

I’m not gonna search for things..... but i just know V8 isn’t really someone thats a liar.....

Yeah, I was as surprised as anyone might be to learn that V8 is a whiny bitch in the shadows. And that's all I'm gonna need to say about that.

It's unbelievable how big of a piece of shit, female acting male Last of the V8s is.  I do not own any Bcash and do not care about Bcash, but he filed a report against you for simply owning Bcash, which is hilarious.  Then he files a report against me for stating an opinion that JayJuanGee is probably a more trustworthy shitcoiner than Bob because Bob was posting "hodl", "to the moon!" and "buy more!" spam while he was dumping $5 million worth of shitcoins on you people. Both of them post all the same bulltard spam, but at least JayJuanGee was not selling while spamming it.

I do sell.  I have a system for selling BTC... even if Bob happened to sell a lot relatively speaking compared with others in this thread.

All y'all have done a great job of knocking r0ach off message. Intentional?

His true beef appears not to be about Bob, but about the abusive use to which V8 is putting the trust system. If everyone -- or even just several -- use the trust system merely to castigate people with messages they don't approve, it loses its value as a tool to indicate whether certain users might defraud you in direct deals.

[El duderino_]

^
I Will only use distrust when i really come across one that uses my trust and scam me.....
But luckely that didn’t happen yet

[StartupAnalyst]

Hello, WO`s! I have a lot of pages to read.
What is going on in this thread? Do hats now give everyone ?

[VB1001]

Venture Capitalist Says Bitcoin Will Soon Be Used For Everyday Purchases.

Draper continues to hold on to his hopes regarding the bitcoin. Despite having a low value as of now, Draper believes that the bitcoin would reach a whopping $250,000 value by 2022.

http://en.businesstimes.cn/articles/108916/20190308/venture-capitalist-says-bitcoin-will-soon-be-used-for-everyday-purchases.htm

$250,000 / 2022

Buy more BTC

[Arriemoller]

20 years of price changes in the United States...

Notice how government subsidized industries are the most expensive? 😮

College tuition in Belgium

Tuition fees at public universities and colleges in the French Community of Belgium are set by the regional government. For the academic year 2015/2016, tuition fees ranged from 374 to 836.96 EUR per year for EU students depending on their income and whether they are eligible for a grant/scholarship.

There are other reasons.  Don’t blame it on government subsidies

I'm in Europe and University has gone to shit here. The Bachelor/Master system is a complete downgrade and utter disgrace from what we had before in a country undisclosed. University is now school round two instead of being an institution that fosters research and critical thinking (in non-research students - which make up the majority of the student body). I was appalled at how cookie cutter Mathematics and Physics programs are and surprised at the resulting quality of graduates (before I realized the problem).

Also, thanks to university "being" (appearing) free, people who can't normally afford it are taking up bullshit recreational courses that don't produce any value in the Economy. I don't have anything against those and am interested in some of the topics myself. But when people get fooled into believing that they can study anything and get a job there's a problem. And when it's "free" they are ridden of any incentive to think about the implications of their actions.

I totally agree with you, especially regarding the The Bachelor/Master system.
But I also think that the government more or less pushing everybody in to university studies is to blame, it's become more like high school than university, with some exceptions.,When I studied in the late 80s early 90s it was still a bit special to study at a university, today it seems more or less mandatory.

[fillippone]

Hello, WO`s! I have a lot of pages to read.
What is going on in this thread? Do hats now give everyone ?

I am ready to surrender my hat it isn’t a well deserved one!
I am not an hat abuser!

[LFC_Bitcoin]

Venture Capitalist Says Bitcoin Will Soon Be Used For Everyday Purchases.

Draper continues to hold on to his hopes regarding the bitcoin. Despite having a low value as of now, Draper believes that the bitcoin would reach a whopping $250,000 value by 2022.

http://en.businesstimes.cn/articles/108916/20190308/venture-capitalist-says-bitcoin-will-soon-be-used-for-everyday-purchases.htm

$250,000 / 2022

Buy more BTC

Bought £100 worth on LBC literally about 10 minutes ago. It’s not a lot but every little helps. I’m not exactly happy about us still being in the $3,000’s but I try to always be positive in life & find good things even out of shit situations.

I was on the verge of being what I’d consider as rich at the peak of the last bull run. Unfortunately I sold nothing but out of a bad situation I’m now increasing my stash so I’ll hopefully be even more wealthy than I would have been the next time we moon.

Hope you’re all having a good day gentlemen. Here’s to breaking $4,000 this weekend.