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

[somac.]

Is it just me, or the world seems to be in dark place, right now, psychologically?
The overall feeling of societal stagnation is in the air.
Maybe this is how people felt during the decline of Rome.
If we are in a similar historical point, the next few decades would not be pretty, I just hope that they would be mostly peaceful.

Strangely enough, I am very much discouraged, among other things, by the persistent silicon shortage (with regards to GPUs, mostly).
This was NOT supposed to happen in a true market economy, right?

Bitcoin is one of the true lights in the world now and, hopefully, it would survive and prosper during these tumultuous times.

I have been thinking the very same thing. Things feel so much different these days compared to even 10 years ago, I am not filled with hope that's for sure.

[JayJuanGee]

It’s dead.

Death by covid. Bear market, sure. CNBC know what they're talking about, It's obvious.

I don't even get WHY markets dump because of the news.
What do you do with all the fiat after selling your assets?
Or is it more about "sell before everybody else is selling, to get in again after everybody has sold"?

Last weekly candle was well in the red. So I think this is just people selling because they think the expected dump might go deeper because of the covid news. Any hopes of last weeks candle being a bear trap are gone. The dump goes on.

Dump? What dump? This tiny -10% setback will disappear on a yearly (even monthly) graph dwarfed by the enormous multi-10k daily candles of December!  Don't mindrust it now, brethren... 

Last time I checked, $53,524 was about 22.5% lower than $69k... sure it is not nothing and it is surely greater than 10%.

Mindrust was quite a bit more than 22% or even more than 50% depending upon the price point where such dumpening is counted.. and surely he dumped his BTC in a quite unusual macro-market situation (peak of march 2020 liquidation event).. and I am not trying to excuse him, but just saying that this is not even anywhere near that but our correction/drop is surely greater than 10% and even more than double greater than 10%.

Otherwise, I will agree with you that zoomed out graphs are likely not going to really show our move from $69k down to $53,524 or whatever other blips we are likely going to be having in these price territories in the coming days/weeks/months.. especially the further out into the future that we get.

[ChartBuddy]

Explanation

[Biodom]

blah blah..Celsius CFO..whatever..might affect tomorrow or Monday, hopefully, intermittently.

[modrobert]

I think we are entering the last period of uncertainty until inflation drives the masses towards Bitcoin.

[somac.]

I got this from hacker news:

Twitter thread from a vaccine developer https://threadreaderapp.com/thread/1464222680731820043.html

A lot of speculation still, but it's not all bad so far.

Seems like a overreaction so far at least.

[ChartBuddy]

Explanation

[El duderino_]

Everything "non essential" forced to close at 5pm daily in The Netherlands from Sunday because of the extremely dangerous deadly mutating Coronavirus.

Interesting comment I just read:

"Then we will just reverse everything. Go to the pub from 12pm-5pm and THEN go to work."

 

Stop lying and overexaggerate the situation. B.1.1.529 is not even active here, only 1 case in Belgium so far.

Hospitals are struggeling again with Delta patiens, doctors asked the goverment to take extra steps for some relief.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[cygan]

If you sell your #bitcoin to a HODLer, that’s forever

https://twitter.com/LinaSeiche/status/1464526376963297281

[dragonvslinux]

It’s dead.

Death by covid. Bear market, sure. CNBC know what they're talking about, It's obvious.

I don't even get WHY markets dump because of the news.
What do you do with all the fiat after selling your assets?
Or is it more about "sell before everybody else is selling, to get in again after everybody has sold"?

Last weekly candle was well in the red. So I think this is just people selling because they think the expected dump might go deeper because of the covid news. Any hopes of last weeks candle being a bear trap are gone. The dump goes on.

Dump? What dump? This tiny -10% setback will disappear on a yearly (even monthly) graph dwarfed by the enormous multi-10k daily candles of December!   Don't mindrust it now, brethren...  

Mindrust was quite a bit more than 22% or even more than 50% depending upon the price point where such dumpening is counted.. and surely he dumped his BTC in a quite unusual macro-market situation (peak of march 2020 liquidation event).. and I am not trying to excuse him, but just saying that this is not even anywhere near that but our correction/drop is surely greater than 10% and even more than double greater than 10%.

Agreed, I think we need to remain more conservative over utilising the phrase "doing a mindrust".

It's reserved for bear market bottoms, or otherwise post crashes, significant ones of at least 50%+. Dumping after a 22% correction from ATH is no where near this concept. Mindrust dumped at a 80% correction if not mistaken, from the $20K highs to the $4K lows. I'd argue that selling at $30K after a 50%+ correction would be doing a mindrust, even if not completely obvious at the time, but not at current prices.

Bare in mind that mindrust's dump came after Bitcoin moved from $4K to $14K and back down to $4K, it was a break-even sell. There was no money lost if not mistaken, only potential profit. One key lesson to learn from this experience is not just dumping at the lows as being a bad move, when price is oversold and at key long-term support, but not taking profits when price is up 3.5x is also an error if you feel over-invested.

While not defending mindrust for his manoeuvre, it's worth remembering he didn't lose any $ over this.

[ChartBuddy]

Explanation

[itod]

El Salvador's President Nayib Bukele:

[ChartBuddy]

Explanation

[julian071]

Is it just me, or the world seems to be in a dark place, right now, psychologically?
The overall feeling of societal stagnation is in the air.
Maybe this is how people felt during the decline of Rome.
If we are in a similar historical point, the next few decades would not be pretty, I just hope that they would be mostly peaceful.

Strangely enough, I am very much discouraged, among other things, by the persistent silicon shortage (with regards to GPUs, mostly).
This was NOT supposed to happen in a true market economy, right?

Bitcoin is one of the true lights in the world now and, hopefully, it would survive and prosper during these tumultuous times.

This song catches that feeling really well: https://www.youtube.com/watch?v=ObOqq1knVxs&ab_channel=boburnham

[dragonvslinux]

Fear & Greed Index has reached 21 "Extreme Fear" today. Time to start feeling bullish again 



When was the last times Fear & Greed reached these extreme levels? Have a look at the green arrows representing extreme fear:



For over a month I've been feeling neutral, even slightly bearish short-term on price since $65K. Now the correction has reached my target, I've shed my short-term bearish bias.

Now that price has found support at the 0.618 on the shorter-term time-frames, I've gone for a high leveraged (10x) long position with tight stop loss 

DYOR

[aysg76]

Others: I have bought electronic gadgets, gaming stuff, cameras and other stuff on this black Friday sale.
                        

VS

Me : I have bought btc at discount of 10-12% on this black Friday sale which was the best deal for me as this won't come up next time.




The btc prices have volatility and people selling is common but those who are selling it at loss are the one's who will later call it scam and all that bullshit but they are not seeing the past growth of bitcoin.Here is the index at each thanksgiving day :



You can see how it jumps from the the low levels and within these years it has managed to reach $56k at current even if we ignore $68k price tags as most of us are doing so but this dips doesn't mean it wall fall to zero? If it can rise when there were not too many supporters so do we believe it cannot rise when all wants to accept and invest in it.You see it your way btc maxamilist will enjoy it their way.

[julian071]

Everything "non essential" forced to close at 5pm daily in The Netherlands from Sunday because of the extremely dangerous deadly mutating Coronavirus.

Interesting comment I just read:

"Then we will just reverse everything. Go to the pub from 12pm-5pm and THEN go to work."

 

Stop lying and overexaggerate the situation. B.1.1.529 is not even active here, only 1 case in Belgium so far.

Hospitals are struggeling again with Delta patiens, doctors asked the goverment to take extra steps for some relief.

@BitcoinBunny the measures where not taken because of a new variant, but because infections are running rampant. I hear a lot of people around me who know people who are now infected, luckily all either young (kids) or vaccinated, so no one really ill (except for the nephew of a team member who died 2 weeks ago, but he had many prior medical issues). The hospitals are so overwhelmed now that all non-essential is halted and hospitals are preparing for the situation where even essential healthcare (e.i. care that has to be given immediately, or the patient will die) will have to be rationed. The husband of a friend of mine is a surgeon, he is now part of a commission that will have to make such life and death decisions.

All non essential care being halted is in itself bad enough. A friend of mine has cluster headaches (nicknamed suicide headaches) and he stopped receiving injections against that, he'll just have to deal with it. Just one little example.

Interesting thing in the NL is that we have been measuring the number of virus particles in the sewage water for quite a while now. It gives a nice objective view of how much Corona is going around and can be used to predict how many people will clog our health system two weeks later. See https://coronadashboard.rijksoverheid.nl/landelijk/rioolwater

[AlcoHoDL]

For those discussing about COVID-19, vaccines, etc., I've just posted something relevant in the other thread:

https://asktom.cf/index.php?topic=5362774.msg58546196#msg58546196

Real case, involving some of my dearest relatives. Read it if you like. Take it as you will.