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

[ChartBuddy]

Explanation

[JayJuanGee]

This "cycle" is weird, if I may say so.
I am getting 'lost' in all these gyrations, but hodling through for better or worse.

Just HODL those 20 BTC (that you bought for $6k-ish in 2015), and when BTC gets to $10 million-ish per coin (soon^tm)**, you will be set to spend your $200k per month passive income.

**maybe 2-5 more cycles - ish

I Am Ready To Buy At $10,000

Don't hold your breath.

Even if we were in an actual bear market - or flat for a couple of years - or end of the bull market, as you suggest, you are going to be lucky to get any coins below $30k..... .. and even then, the odds are not looking too good for even that....maybe I am just fighting the fact that we could actually have fallen out of a bull market yet - especially since we already had a 56% correction and then a recovery from that.. so accordingly, look at the 208-week (4 year) moving average at $18k or the 104-week (2 year) moving average at $28k or even the 52-week (1 year) moving average at $46k.. it is hard to appreciate that we might be moving below any of those amounts in the near future or even in the next 6-12 months.. and each of those numbers are continuing to trickle upwardly with the passage of time, too.

By the way, that reminds me that Raja_MBZ may be getting excited to the extent that he might want to get back into bitcoin, but I am still having my doubts about getting down to the 200-week moving average if he maintains that as his repurchase price arena goal... though he does seem to be distracted into other nonsense, anyhow... so there is that angle, too.

[lottery248]

THE NEXT 24 HOURS ARE A B S O L U T E L Y  C R I T I C A L ! ! !

allow me to say it, i kinda think that there is a very small chance Evergrande is one of the direct reasons bitcoin falls a lot today. i have been suspecting Tether's actual commercial paper list as they denied the claim (Reuters link) of investing them. as of 10 hours ago, Evergrande declared insolvency (Reuters link again) towards its offshore bonds.

the link between all crypto and Tether is that a lot of trading pairs involve Tether. and if Tether did invest in Evergrande, then that is what i am talking about.

[somac.]

Here us something interesting, if true.
Apparently, SP500 is flat since 1997, if you calculate (normalize) against M2 money supply.

https://twitter.com/PrestonPysh/status/1466868260838821895/photo/1

That's not surprising as the stock market wouldn't be the only one to receive all of the inflows. Other things such as bonds, commodities, property, etc would of seen a good portion of it as well. I don't think the stock market is particularly overvalued though, as this M2 comparison alludes.

[aesma]

I hate to be the bearer of bad news but... In most countries, any time you sell your Bitcoin for anything else (be it FIAT, other crypto, stable coins, or just whores & coke) it is a taxable event. You 100% sure it is not like that under your jurisdiction?

About your specific question... None of the stable coins are risk free. Haven't really analysed which one is "less risky/more stable" even if I think USDT is the more popular/widely used one.

P.S.: Looks like you are right in that France does not consider it a taxable event. That's awesome:
https://koinly.io/guides/crypto-tax-france/

Yes it's not a taxable event. And now taxation has been aligned with that of financial instruments, with a capital gains tax at 30% (you used to be taxed like other income, so up to something like 60%). What we lack is a "pocket" inside which we could trade without tax, paying only when getting money out.

The problem with USDT is that there are doubts about its backing. And authorities are looking into it. So at some point things could go bad.

[Biodom]

@jjg....or, maybe you stay away from other peoples pockets...you have quite an imagination being in a position of "unknown unknowns".
..let's keep it this way.

[BitcoinBunny]

Bloodbath with the alts that many Crypto YouTubers (very) recently shilled:
Mana, Kadena, The Sandbox, UniSwap, Solana, Cardano.
Even big daddy Ethereum is dropping more than BTC.

Will people ever learn?

[JayJuanGee]

Ding Dong - The Bull Is Dead

It’s So Cold - Bitcoin Winter Is Coming

I Am Ready To Buy At $10,000

You still won’t buy at $10,000 if we got there (unlikely).
You’d be hoping for $2,500, I’ve seen your type many times over the years. Have fun staying poor!

But LFC.. the main reason that billy nocoiner set such a dumbass goal is because he does not want us to get there.. just like you suggested, he is not buying at any price.

At least Raja_MBZ has a somewhat possible target which is to meet the 200/208-week moving average which is currently just above $18k, so it could get up to about $20k/$22k in a couple of months.. but still does not seem very likely at all that we are going to be getting to the 208-week moving average unless we really do fall out of this bull market, which surely is also hard to believe given the so many macro-economic circumstances - or maybe there is a hope for another liquidity event and hoping that such liquidity event were to play out in some kind of way that would be similar to the March 2020 liquidity event and just does not seem that we get to cross that stream again and maybe the best case scenario with that might be something like $30k-ish..   

Personally I believe that it is not any kind of a bad thing to prepare financially and psychologically for potentially outrageous and extreme DOWN scenarios, even if they are NOT likely to happen... and for sure, Billy no coiner is taking these extremes that are quite further than what would be very likely at all to happen.. and likely it is for effect rather than practicality.. It's like those guys talking about sub $500 BTC prices throughout 2017 or talking about sub $1k throughout 2018 and 2019.. and many of us appreciated that that ship had sailed.. but did not stop them from talking about it and trying to scare (or motivate) peeps into believing that those kinds of low-ball BTC prices were still reasonably within the cards.

What's this? A dip for ants?

Well?  For me, I consider 8% to 10% to be dips for ants, and I consider 15% to 20% to be dips for ants if we had already gone up 50% or more in a relatively short period of time.. but currently our $51,556 is about a 25% correction, so it seems to be greater than "ant level", at least from my perspective... especially when we should be (we are supposed to be) (we are getting off schedule towards) going UPpity.. which is supposed to mean higher than $69k by this time on the clock...

It was all fun and dandy, king daddy, but now it is starting to become a wee bit annoying..

King daddy is annoying.

 

Hate for bears to get rewarded too much.. but hey.. shit happens.. ..even annoying shit.. and if we could just have some rewards of some shitcoins getting destroyed worse than bitcoin HODLers.. then at least there might be some consolations in that.. not sure if true, though... 

[ChartBuddy]

Explanation

[aesma]

Bloodbath with the alts that many Crypto YouTubers (very) recently shilled:
Mana, Kadena, The Sandbox, UniSwap, Solana, Cardano.
Even big daddy Ethereum is dropping more than BTC.

Will people ever learn?

I had some ETH bought some months ago for some reason I can't remember, I had put sell orders with a decent profit, and completely forgot about them. Sell orders against BTC. A few days ago everything sold. Now the price is down. I might put some buy orders again.

Not touching random altcoins though. And ETH fees are totally insane, anything bad said about BTC fees is nothing in comparison, I had to end a HEX stake (a shitcoin that I totally don't believe in, but made me a tidy profit), it cost me 380$ in fees ! At first I balked and waited a week to do it, during the week the cost got up to 800$, so as soon as I saw 3XX$ again I pulled the trigger.

[JayJuanGee]

He means below 100$ surely ?

Doesn't make sense though. 10K$ might happen if some major event causes it, like a big whale getting arrested and the authorities getting the coins, something like that.

100$, that would be another kind of major : a successful attack on BTC, killing it. Buying at that price wouldn't make sense then, as it would be worthless, in fact you wouldn't even know if you were really getting the coins you would be buying.

You seem to not understand BTC too well if you believe that $10k or sub-$10k is meaningfully feasible.

But, hey, you do you.

Here we go BTC. We should break $53K. $50K would be great. After that, we could come back stronger 💪.

Great for whom? I don't think it's "great" for any long time hodler whose bags are full...  

true dat.

There should be some kind of common sensical line between accepting and suffering when the BTC price goes down.. for example when your stash value lowers from $69 million down to $53 million (or something like that).. but there should not be cheering for it to go down to $50 million .. even if it ends up happening... just as an example.. ..

could we say the same?  if the stash holder were at 10BTC (or double at the Biodom level) had gone from $690k ($1.38 million) to $530k ($1.06 million) and then not good to be cheering for $500k ($1 million), right?

BLAH!!!!

10,159 Words.
56,675 Letters.

Dayum.

 

Fake news... dayum...

you do not get any kind of accurate word/character count when you are citing the text and also the quoted text..

Get a grip.. before you get the batslap that you have been working ur lil selfie up to (with your ongoing whinening about nonsense)....


hahahahahahahaha



#nohomo

[BitcoinBunny]

What the fuck does a Coxswap token do? 

On second thought... I don't want to know.

[shahzadafzal]

[JayJuanGee]

Ding Dong - The Bull Is Dead

It’s So Cold - Bitcoin Winter Is Coming

I Am Ready To Buy At $10,000

You still won’t buy at $10,000 if we got there (unlikely).
You’d be hoping for $2,500, I’ve seen your type many times over the years. Have fun staying poor!

Don't feed the troll. $10k is absolutely impossible. Michael Saylor, El Salvador & other big guys would buy the entire supply at that price. 

parity with gold? ;0 haha lulzzz

Parity with gold is just a stepping stone you fucking wwwwweeeeeeee-ing goofball.

bitcoin is anywhere approximately in between 100x to 1,000x better than gold, so 1x is merely a stepping stone on the way UPpity..

Stop being so limited in ur wwwwwwwwweeeeeeeeee   widow    thinkenings (to the extent any actually exist therein).

 

BLAH!!!!

10,159 Words.
56,675 Letters.

Dayum.

lol

my 1st computer had 1k memory. didnt get to a computer that could hold that JJG post fully in RAM till years later on my CP/M rig with 64k.

too lazy to math out the transfer time on a 300 baud modem but im sure its long enough to fall asleep waiting for it.

oh wait, just like actually reading them irl

You speculate that you got it rough.. just consider being stuck in a body that has to write such 'splainings to have to respond to some of the lame-ass ideas (if you can call them that?) of you goofballs (#nohomo).

[ChartBuddy]

Explanation

[JimboToronto]

BLAH!!!!

10,159 Words.
56,675 Letters.

Dayum.

War and peace?

[BitcoinBunny]

Christmas dinner at this rate. 

[dragonvslinux]

Not much to say apart from RIP perma-bulls. I salute you all engulfing hopium through a crack pipe of wild dreams and psychotic dreams, but welcome to the reality of price.
I am feeling sorry for perma-bulls right now though, times must be tough. Just remember that a long-term uptrend is based on the long-term, not the short-term.
Of course price bounces in bull markets, but it's not from short-term hopium, it's from long-term support. 20/21 Week MA incoming, don't forget your buy orders.
Closing in on long-term support now, the time for short-term bearish price movements will come to an end, have some faith in proability.
Don't be like Billy and don't pull a mindrust  

[ChartBuddy]

Explanation

[somac.]

Not much to say apart from RIP perma-bulls. I salute you all engulfing hopium through a crack pipe of wild dreams and psychotic dreams, but welcome to the reality of price.
I am feeling sorry for perma-bulls right now though, times must be tough. Just remember that a long-term uptrend is based on the long-term, not the short-term.
Of course price bounces in bull markets, but it's not from short-term hopium, it's from long-term support. 20/21 Week MA incoming, don't forget your buy orders.
Closing in on long-term support now, the time for short-term bearish price movements will come to an end, have some faith in proability.
Don't be like Billy and don't pull a mindrust  

I'm just hoping we don't see the 40s, the 40s suck.