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

[JimboToronto]

I absented myself from here for most of the last couple of years to go and spend time in the real world, so now have no idea what the Vegeta thing is all about. Could someone explain succinctly (apologies to those who are anti-Vegeta).

Just as Sparta (the movie 300) was a meme when we first hit $300, the children's cartoon character Vegeta (It's over 9000!) became a meme for first hitting $9000.

Since the price has fluctuated past it several times already, it has become an ongoing meme. The  last couple of times, members have sponsored contests for being the first to post an image meme. Since there were some concerns about cheating, more stringent criteria were called for this time.

[Icygreen]

Out of curiosity: where in the world is Waldo (Trace Mayer)?
Pomp is around , planB as well, even Tone Vays, but Trace is missing in action (at least on twitter).
Interesting...maybe sold too many puts on his bitcoin? He was always professing that trade (through LedgerX), which I find inane.
I wonder how many blockfi loans got liquidated as well...

Trace Mayer lost a lot of credibility after shilling Mimblewimble coin in this interview and got flamed by the BTC maxi's
I think he's to ashamed to show his face now. His bags must be heavy.

[Searing]

@APompilano
The Fed just announced historic actions of emergency rate cut to zero and $700 billion in quantitative easing.

Stock futures just opened 5 minutes ago and they are already falling.

The market is basically calling the Fed's bluff...
https://twitter.com/apompliano/status/1239311910870364161?s=21

they already hit the stop band hit of 5% and stopped to open at 1,041 down I think it is...

thus they are not to impressed by the Fed's action to 0% or more likely it is a 'oh sh*t" the Fed dropped it to 0% we are looking like a real crisis here

sell, sell, sell

It would b nice if the BTC/Crypto market at least went sideways and/or up a bit to show an alternative to printing $$$ the rest and such

we will see I guess

brad

[marcus_of_augustus]

Source Twitter : @krugermacro

CME is not bitcoins friend  

... this is not good. Bitcoin is now 'under management', probably by agents acting for the state, closing the exits in time of escape from dollar facist fiat system using futures pricing fables. I've seen this movie before, it is how it began with gold.

[dragonvslinux]

Source Twitter : @krugermacro

CME is not bitcoins friend 

That's all I needed to see to confirm what I previously thought, so thanks a lot for sharing
+1

[eddie13]

Source Twitter : @krugermacro

CME is not bitcoins friend 

That's all I needed to see to confirm what I previously thought, so thanks a lot for sharing
+1

Please explain..

[lightfoot]

thus they are not to impressed by the Fed's action to 0% or more likely it is a 'oh sh*t" the Fed dropped it to 0% we are looking like a real crisis here

I really wish our President would shut the fuck up. Every time his mouth opens things get worse.

Maybe that is the plan.

[jojo69]

This guy makes W look like a respectable elder statesman...

[dragonvslinux]

Source Twitter : @krugermacro

CME is not bitcoins friend  

That's all I needed to see to confirm what I previously thought, so thanks a lot for sharing
+1

Please explain..

Looks bearish! Institutional volume selling the open... ain't checked stocks, but that "micro correlation" Bitcoin is suffering from appears to be continuing (that of bearish selling pressure). Just checked S&P, big bounce on the open, nothing relevant seen on Bitcoin = Even more bearish short-term, always long-term bullish though  
Someone please merit this chart I'm out, then BTFD. More info from someone paying more attention than me right now.
PS, updated this though: https://asktom.cf/index.php?topic=5188537.0 

[bkbirge]

https://www.marketwatch.com/story/exclusive-fed-is-throwing-money-in-the-wrong-place-says-sheila-bair-former-top-banking-regulator-2020-03-15

“Forget this 2008 financial crisis playbook,” Bair said. “We never focused enough on the real problem in 2008, which was homeowners,” she said, adding that she “loves the idea” of recent proposals that aim to get cash straight into the hands of households who are grappling with shuttered schools, businesses and more.

[lightfoot]

https://www.marketwatch.com/story/exclusive-fed-is-throwing-money-in-the-wrong-place-says-sheila-bair-former-top-banking-regulator-2020-03-15

“Forget this 2008 financial crisis playbook,” Bair said. “We never focused enough on the real problem in 2008, which was homeowners,” she said, adding that she “loves the idea” of recent proposals that aim to get cash straight into the hands of households who are grappling with shuttered schools, businesses and more.

I'm sure this money will find its way into the "right" pockets, no doubt.....

[JayJuanGee]

Is Lambie still changing data to make his predictions true?

hahahaha

Nah... that would never happen. 

He's NOT a wannabe sorcerer wannabe. 

He's actually legit.  Don't be shy... just ask him, and he will tell you.


 

[jojo69]

https://www.marketwatch.com/story/exclusive-fed-is-throwing-money-in-the-wrong-place-says-sheila-bair-former-top-banking-regulator-2020-03-15

“Forget this 2008 financial crisis playbook,” Bair said. “We never focused enough on the real problem in 2008, which was homeowners,” she said, adding that she “loves the idea” of recent proposals that aim to get cash straight into the hands of households who are grappling with shuttered schools, businesses and more.

[Icygreen]

thus they are not to impressed by the Fed's action to 0% or more likely it is a 'oh sh*t" the Fed dropped it to 0% we are looking like a real crisis here

I really wish our President would shut the fuck up. Every time his mouth opens things get worse.

Maybe that is the plan.

I've muted him (all of them) on twitter and its still difficult to shut him up.

We're ready for the big one it seems. This is what BTC was built for, stand solid in what you believe, Bitcoin is watching, be proud.

[LUCKMCFLY]

Any announcement that raises the price of Bitcoin is welcome.

QE4 Begins: Fed Cuts Rates, Buys $700B in Bonds; Bitcoin Rallies 7.7%

The price of the largest cryptocurrency by market capitalization soared 7.7 percent, from $5,182.70 to $5,582.62, in less than an hour after the Fed’s announcement.

Source: https://www.coindesk.com/qe4-begins-fed-cuts-rates-buys-700b-in-bonds-bitcoin-rallies-7-7?utm_source=dlvr.it&utm_medium=twitter

[wavessurfing]

Any announcement that raises the price of Bitcoin is welcome.

QE4 Begins: Fed Cuts Rates, Buys $700B in Bonds; Bitcoin Rallies 7.7%

The price of the largest cryptocurrency by market capitalization soared 7.7 percent, from $5,182.70 to $5,582.62, in less than an hour after the Fed’s announcement.

Source: https://www.coindesk.com/qe4-begins-fed-cuts-rates-buys-700b-in-bonds-bitcoin-rallies-7-7?utm_source=dlvr.it&utm_medium=twitter

but if CME does not like it?
see previous page...
https://asktom.cf/index.php?topic=178336.msg54036351#msg54036351

[hung58bitcoin]

Source Twitter : @krugermacro

CME is not bitcoins friend 

BTC fomo price increases due to news will quickly return to where it started, once there are still dump pumps over $ 500 $ 600 like this, it is when the market is unstable. So, my opinion in this situation is holding assets in USDT because BTC price is very vulnerable to being pumped by news in the current situation. As the effects of the COVID-19 epidemic are becoming more severe in the US and Europe, I think that the trend over the next few days is the downtrend.

[JayJuanGee]

Possibly. The interesting thing about the bubble is the money never really existed anyway. It was just fake virtual "money" backed by nothing and disssolves in a puff of wind.

or it was the fastest money you could turn over in a real black swan emergency to fill your 'likely everyone's" empty emergency fund!

So what MAY happen now is after the fed continues to pour money into this? (the pundits say on Monday's dump of cash will be $2.5 Trillion USD in less than a week)

and the rest of the world doing the same. You may see less than enlightened despot type countries pull the same thing as Cyprus in 2013 and India.

Limit cash withdrawals in developing countries..can't move your money out...those same countries printing money in mass as well, etc, etc.

Inflation comes back, you know the saying if the USA has a recession the rest of the world has a depression..or at least in the developing countries.

So, you can't print this much $$$ needed or not and have or continue the massive tax cuts, etc in play in the USA and of course don't forget MORE qualitative easing

(printing $$) outside of just helping wall street. This will indeed be the year, 2020 when we find out if BTC/Crypto IS just a speculative asset like all the rest and will

take years to recover from or that BTC/Crypto does have the 'chops' to act, even in a limited way, as a store of value as everything hits the skids.

we will see I guess..but why I'm still HODL'ing (then again I'm boring and old in 15-20 years likely will be drag'd off to the nursing home..so what do I care in the long run)

make your own decisions...but with age and the pandemic if BTC goes beanie baby it does not even make the top 3 of crap things I don't want to happen.

see..grumpy old man powers do have their uses

brad

You, brad, seem a bit inclined to do a "mindrust," and probably you should have shaved off a tiny bit of insurance (or "feeling better" money) in the $8,500 to $10,500 price range, instead of waiting for $11,111.11.  We can never know and we cannot really time the tops, but it seems that you are just way too damned over-invested for your own psychological state....

Alternatively, if you shave a little off in the lower $5ks, you will be less inclined to panic "shave-off" if we end up revisiting $3,124-ish, which may even be approaching 50% odds, at the moment...  Surely, the odds for  revisiting $3,124-ish have increased in the past week or so, but I have a hard time, currently, placing those odds at greater than 50%, even though I am having my doubts, too about my own perception of what are reasonable assignment odds, currently.

My personal plan remains to continue to buy on the way down, and I currently have buy orders set down to the lower $3ks - and those buy orders would fill in any kind of flash-crash, quickie correction and currently, I am contemplating whether I need to inject a bit more dollars into "active" status to set such currently existing buy orders to a bit lower amounts.. I am NOT wanting any of those downward price moves to become true.. but now, as I type, we are in a kind of reasonable striking distance of such target testings of buy support, and surely there are k-niving and scheming bearwhales (and likely even fractional reserve cheaters) who would like to attempt to inspire more and more losses in confidence in BTC in order to be able to shake a few more weak hands... so, you, brad, might want to be shaken at a time of your own choosing rather than being cornered into a "mindrust-like bust".^tm

You will thank me later (perhaps?) unless the BTC price goes up from here, then you are going to be pissed off at me, even though I do not deserve blame for your ongoingly seemingly wannabe shakeable psychological state.   

[nullius]

I didn't lose faith in bitcoin. I lost faith in humanity.

I’m in Bitcoin, because I never had faith in humanity.  Bitcoin is a system which exploits ruthless self-interest to coerce people who hate each other into cooperation—for the good of Bitcoin, not for each other.

I am sorry for your loss.  By that I mean, your dearly departed coins which I know you are mourning.

I have all of my life savings in Bitcoin.  All the liquid money that I have, aside from hand-to-mouth scraps of fiat to cover my mundane expenses (and I live simply).  It is money that I cannot afford to lose; for I was never an investor, and I never thought of it as a financial investment per se.  Bitcoin is to me more than money.  Also, I can’t preach something to people if I’m not living it.  —Also, I play for keeps; and that means going all in.  I have always been that way.

For the past few days, I have been ignoring the market (as I usually do).  I don’t even know the current price exchange rate (non-monetary commodities have prices; currencies have exchange rates!).

I couldn’t panic-sell, even if I wanted to:  I have never had a KYCed fiat-crypto exchange account.  Getting my money into Bitcoin anonymously was a major project; and it cost dearly, especially given that I was ignoring the market as usual.  Selling my coin for fiat would be even more difficult, because it’s easier to spend fiat cash anonymously than to obtain fiat cash anonymously.  But I don’t mind being stuck with Bitcoin.  Married to it.

Now, it is foreseeable that in the near future, I may wind up with Bitcoin and no food.  I am a practical man; and frankly, I will admit that I would rather have food.  Still, I am glad that I have my Bitcoin.  Bitcoin makes me happy.

I was pleased, when I saw this:

Nullius' sole objective is to facilitate the mass adoption of bitcoin.

That is actually not emotional on my part; and it is not a religion, my sense of humour notwithstanding.  Bitcoin is the concrete embodiment of higher principles.  At this point in history, it is one thing that can help slow our descent into a terrible abyss.  That, I care about more than I care about money.


I don’t recommend buybacks based on emotions, any more than I would recommend panic-selling.  The cool, savvy approach will result in having more Bitcoin in the long run.  I do think the banks are trashing us now.  Panic-selling means money value in their pockets (correction noted as to a principle that most people never understand: the nature of money); so would whipsawing around with effectually FOMOing.  Just pretend that you are approaching this for the first time—so, how would you get into Bitcoin now?  Pretend that you just saw the term “maximalism” for the first time, and you’re such a n00b that you assume it means maximizing the amount of Bitcoin that you have. ;-)

[JayJuanGee]

What do we think about the potential price direction this week, guys?

first down, then up, then down  

Why you have to start with down first?  You negative nancy!!!!!!!!!!   

more pertinent important questions:

will equity markets stay open: I hope that US and UK will, I doubt that they would stay open in EU

will banks stay open: they should, or SHTF

will credit cards work: I am reasonably confident that they would

You are correct to suggest that if some, or several of these things, have to close for any significant amount of time, beyond a few minutes, then that is going to mean continued cascading and lack of confidence... and, sure it is possible to have continued down for another week or two.. or maybe longer..

But we could possibly get up before getting down... which might only be a temporary break in the "down" situation.