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

[El duderino_]

[1714219994]

1714219994

[1714219994]

1714219994

[1714219994]

1714219994

[1714219994]

1714219994

[1714219994]

1714219994

[1714219994]

1714219994

[itod]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

[Deeyoh]

Well, manipulators on Bitfinex really know how to clear out longs for sure.  Look at that drop and pop back up. LOL  I"m thinking they want to move price on up so needed to clear out some longs.

[Bitcoinaire]

Your daily reminder that the bear market is DEAD, and the next few weeks will be the best $BTC buying opportunity you'll see for years.





https://twitter.com/BeastlyBTC/status/1043609044512980992

[bitcoinPsycho]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

-5 merit

[jbreher]

Extraordinary claims require extraordinary evidence 

Nothing extraordinary about this claim.

You're looking foolish, BTW.

[El duderino_]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

lol

[eddie13]

^^
Even didn’t noticed a DUMP , Thats the fine thing of Going out with coiners ..... Just No BTC talks and No price watching    
Kinda strange .... haha

I don't have a single RL bitcoin friend. There are only coinless peasants around me and its hell trying to talk to them about crypto without them telling you why its not going to work or how its a ponzi scheme. So for me its either being friendless or homocide. But the second option is extremely tempting...

That's similar to how it was for me too, when BTC was like $300.. I always explained it to friends but never tried hard to get them to buy, told them that they could make money or lose it all, nobody bought any..

Now the price is $6.5k or whatever and they are all should'a could'a would'a "I wish I had bought when you told me about it" etc..
Especially when it was climbing from like $3k and up...

I have no IRL crypto friends either..  The third option is just wait and in the future when the price is 10X-20X or whatever from here, you shall be vindicated..

just wanted to show off one of my girls

Beautiful. Good job!



All this excitement about a couple hundred $ movement in BTC.. It still hasn't broken out of its gently tapering in channel yet.. It's staying tight right in there, but can't forever..

[bones261]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

Bitmain just announced that it has finally developed a better ASIC chip. It will be 42J/TH. Bitfury also announce that they have a new ASIC chip which gets 55mW/GH. https://www.coindesk.com/bitmain-ceo-announces-new-7nm-bitcoin-mining-chip. I put in some figures, and it appears at the current difficulty and 5 cents/kwH price in China, that brings the electricity cost down to less than $1,500 USD to produce 1 BTC. If the difficulty doubles, it will still be less then $3000 USD to produce a BTC. And I suspect some of the larger mining farms in China are getting a better deal than 5 cents/kwH. Therefore, the break-even floor is going to be lowered.
However, I really don't think BTC is going to go much below 5000 USD. After all, Bitcoin core just patched up a major bug that was present for almost 2 years, and the market responded like it was just noise.  

[elrippos friend]

Your daily reminder that the bear market is DEAD, and the next few weeks will be the best $BTC buying opportunity you'll see for years.





https://twitter.com/BeastlyBTC/status/1043609044512980992

It's time to fasten your seatbelts 

[suzanne5223]

^
nicely said ........ next target full year in 5-digits ??

Yep. It will take time though... More than a year for sure

I agree with what you said because the market blood bath and correction occurred for a long period of time and it will take the market a long period of time to recover the 5 digit back. But if the 5digit was regain back in acouple of months then market manipulation is definitely involve.

[bitserve]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

Bitmain just announced that it has finally developed a better Asic chip. It will be 42J/TH. Bitfury also announce that they have a new Asic chip which gets 55mW/GH. https://www.coindesk.com/bitmain-ceo-announces-new-7nm-bitcoin-mining-chip/ I put in some figures, and it appears at the current difficulty and 5 cents/kwH price in China, that brings the electricity cost down to less than $1,500 USD to produce 1 BTC. If the difficulty doubles, it will still be less then $3000 USD to produce a BTC. And I suspect some of the larger mining farms in China are getting a better deal than 5 cents/kwH. Therefore, the break-even floor is going to be lowered.
However, I really don't think BTC is going to go much below 5000 USD. After all, Bitcoin core just patched up a major bug that was present for almost 2 years, and the market responded like it was just noise.  

Are you taking into account the cost of the new devices and operational costs in your ROI calculation or only the electricity cost (which I also presume it may be way lower than 5 cents/khw for some)?

[bitserve]

^
nicely said ........ next target full year in 5-digits ??

Yep. It will take time though... More than a year for sure

I agree with what you said because the market blood bath and correction occurred for a long period of time and it will take the market a long period of time to recover the 5 digit back. But if the 5digit was regain back in acouple of months then market manipulation is definitely involve.

I never said anything about how long will it take to regain 5 digit. I only said we will surely need more than a year for bitcoin to complete a full year over $10K (in 5 digits). All the rest is just pure speculation.

P.S.: @JJG too

P.S.2: I think there are more probabilities to regain $10K in less than a year than more or never. Probably even more than 50% for that to happen before year end.

[Icygreen]

While I'm pouring all my savings into BTC, all my friends have been going on and on about weed stocks. Tilray, Canopy, etc.  
Not sure why I'm so skeptical. Maybe I just don't understand traditional stocks or weed futures.  
Federal prohibition is nearing its end. 

[sirazimuth]

A piece of a photo from this morning.  Can you identify the subject? More to come.
Derp... probably far too easy. But bitcoin isn't moving.

Crystals, almost ripe for harvest, no amber yet..

And I thought there'd be at least one guess, lol.   Really just wanted to show off one of my girls    2 more weeks if weather allows.

Nice.
My AK-47 strain got hit with mold really bad. Phucking rain.
Harvesting now before it’s all wiped out.
Haven’t indulged in years but still love to garden.

[serveria.com]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

Bitmain just announced that it has finally developed a better ASIC chip. It will be 42J/TH. Bitfury also announce that they have a new ASIC chip which gets 55mW/GH. https://www.coindesk.com/bitmain-ceo-announces-new-7nm-bitcoin-mining-chip. I put in some figures, and it appears at the current difficulty and 5 cents/kwH price in China, that brings the electricity cost down to less than $1,500 USD to produce 1 BTC. If the difficulty doubles, it will still be less then $3000 USD to produce a BTC. And I suspect some of the larger mining farms in China are getting a better deal than 5 cents/kwH. Therefore, the break-even floor is going to be lowered.
However, I really don't think BTC is going to go much below 5000 USD. After all, Bitcoin core just patched up a major bug that was present for almost 2 years, and the market responded like it was just noise.  

Well it depends on the price tag on this new nextgen miner and taking into account it's productivity it won't be really given away for free   

[bones261]

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

Bitmain just announced that it has finally developed a better Asic chip. It will be 42J/TH. Bitfury also announce that they have a new Asic chip which gets 55mW/GH. https://www.coindesk.com/bitmain-ceo-announces-new-7nm-bitcoin-mining-chip/ I put in some figures, and it appears at the current difficulty and 5 cents/kwH price in China, that brings the electricity cost down to less than $1,500 USD to produce 1 BTC. If the difficulty doubles, it will still be less then $3000 USD to produce a BTC. And I suspect some of the larger mining farms in China are getting a better deal than 5 cents/kwH. Therefore, the break-even floor is going to be lowered.
However, I really don't think BTC is going to go much below 5000 USD. After all, Bitcoin core just patched up a major bug that was present for almost 2 years, and the market responded like it was just noise.  

Are you taking into account the cost of the new devices and operational costs in your ROI calculation or only the electricity cost (which I also presume it may be way lower than 5 cents/khw for some)?

No, I didn't factor that in. Mainly because Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. Also, the larger farms that are independent(?) of Bitmain will probably get a deep discount due to volume. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.

[BTCHadzija]

my trading these past 2 weeks

[crypmike]

Your daily reminder that the bear market is DEAD, and the next few weeks will be the best $BTC buying opportunity you'll see for years.





https://twitter.com/BeastlyBTC/status/1043609044512980992

idk why you are so excited about this guys... this image has no sense. Still possible scenario:
The market is unpredictable

[El duderino_]

SO again for all the latecomers-nocoiners-pessants-shitcoiners etc that actualy still wants in BTC be glad the train was left the rockets where flying BUT the bus made a short stop be on it or be left in the dust again