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

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The Art of BTC HoDLing

• The Art of BTC HoDLing is acquired through years of patience, deep understanding of the tech, and a firm belief in what BTC can do and how it can change the world for the better.
  
  
• You know that you have mastered the Art of BTC HoDLing when you are not worried at all when a dump occurs. You just smile because you are trained to expect them, and know what's to come.
  
  
• You know that you have mastered the Art of BTC HoDLing when you are not overly happy when a pump occurs. What's a 50% rise in BTC value? Nothing! Can it be compared with your current gain of xxxx%? Absolutely not! You just smile and save the real excitement for when BTC = $100k ~ $1m (10x ~ 100x, depending on your wants and needs).
  
  
• You don't check the BTC/$ price as often as you used to.
  
  
• When you see/hear the word HoDL, you immediately think of Guinness and their famous tagline: "good things come to those who wait".
  
  
• You don't ever dare buy pizza with BTC, because you know the consequences and won't be able to live with yourself.
  
  
• You know who Carolina is, and what instrument she plays.
  
  

Have fun WO brothers!

I'd like to contribute to this wonderful encyclopaedia of HODL  

• You easily identify beatrolls and you are immune to their FUD and BS.
  
  

[realr0ach]

It really seems all the right wing extremist news sites are funded by Bitcoin.

I noticed you dropped this while walking down the street so I thought I would return it to you.

[Lambie Slayer]

Stockboyz getting rekt all over the globe today.

Wonder if Hong Kong riots might be the black swan we have been waiting for. Instability is always China's biggest fear.

Always fun watching Bitcoin hostile countries have a bad day.

[Phil_S]

I'm expecting a bit of sideways this week.

[bkbirge]

Good read, some typical careful boilerplate type of answers but Carol Goforth's response is hilariously DGAF.
https://cointelegraph.com/news/why-is-the-us-not-yet-a-leader-in-crypto-regulation-experts-answer

[jbreher]

You should still act like an angry cunt to him, if that is how you really feel.

I wouldn't expect any different.

You know that some of your last posts were a bit outrageous towards him in terms of criticizing certain decent points that he was making, but whatever, maybe jbreher just loves abuse?

Naaah. The opportunity to metaphorically piss all over nutildah was darned near irresistible.

Plus, a dedicated WO participant should not be bereft of sMerits, regardless of upbringing.

Hmm... maybe I am getting soft. I ignored the obvious opportunity to castigate elementary english errors:

[nutildah]

The stockmarket had a 10 year bullrun. Time for a nice healthy correction. Last correction happend in 2008 and 2000.

Shit will hit the fan again.

And all that money will pour into btc as an uncorrelated asset.

A new recession will be the true test of bitcoin's market resilience. It will also determine what % of the market cap is currently propped up by Wall Street. As bitcoin is the highest risk of the high risk investment class (actually altcoins are the very highest), a recession will see a sell-off of institution-owned BTC.

If BTC can then establish itself as a "safe haven" investment after the outflow of institutional money, then yeah, sky's the limit.

[Lambie Slayer]

Off topic:

I tried the Impossible Whopper today at BK. You know the one with beyond meat. It tasted like shit.  

Sorry cows, but we arent gonna stop eating you anytime soon.

I worship no god but our Lord and Savior King BTCitcoin, but I will note in the Bible that as soon as Jesus was resurrected and reunited with his homies the desciples, he had one thing on his mind.....

King James Bible
"And while they yet believed not for joy, and wondered, he said unto them, Have ye here any meat?"

[realr0ach]

A new recession will be the true test of bitcoin's market resilience. It will also determine what % of the market cap is currently propped up by Wall Street. As bitcoin is the highest risk of the high risk investment class

Shitildah accidentally admitted that Bitcoin is a pump and dump scam and measures up horribly against anything on Exter's pyramid like silver and gold.

[samson]

selling off of the alt coins keeping bitcoin high for now.

How do you figure that? BTC largely traded in USD, you think those markets are just going to sit there and not move because someone shitcoin lost a bit of value 

[jbreher]

... I don't see any reason for this week $3000+ pump

My money's on the Yuan devaluation.

Well, not my money. My money does not react to transient circumstances. But I think there is a good chance that the Yuan devaluation has something to do with the price bump. Something something Chinese punters' savings worth less something something Chinese punters getting scared about loss of savings something something Chinese punters look for stronger asset to hold value something something Chinese punters buy Bitcoin.

[Lambie Slayer]

The stockmarket had a 10 year bullrun. Time for a nice healthy correction. Last correction happend in 2008 and 2000.

Shit will hit the fan again.

And all that money will pour into btc as an uncorrelated asset.

A new recession will be the true test of bitcoin's market resilience. It will also determine what % of the market cap is currently propped up by Wall Street. As bitcoin is the highest risk of the high risk investment class (actually altcoins are the very highest), a recession will see a sell-off of institution-owned BTC.

If BTC can then establish itself as a "safe haven" investment after the outflow of institutional money, then yeah, sky's the limit.

Good points. Stock boyz do own some coins, but the question is how much. Ive never held too much belief that Wall Street ever bought all that many coins but a recession will certainly put it to the test. Hopefully the halvening would counteract any potential Wall Street dumping of coins in a major stock bear market.

[jbreher]

I have noticed a new trend : No one is calling Bitcoin a bubble any more.

Are you kidding? Nouriel mumbles it in his sleep. Hit him up if you need a fix.

May be people are getting to believe that no price is impossible to achieve with Bitcoin and cryptocurrency. Price can go as high as $50,000 even before the end of this year. This is also possible.

Well, there is that.

[rdbase]

Are my eyes deceiving me bitcoin did a hard pump last night. $11,700 seems alot closer to the $12,000 we had a month ago.

[jbreher]

Observing top holder Coinbase buy/sell ratios:
btc: 33/67
eth: 35/65
ltc: 29/71

I have no idea what that even means.

[realr0ach]

Stock boyz do own some coins, but the question is how much. Ive never held too much belief that Wall Street ever bought all that many coins but a recession will certainly put it to the test.

You would be wrong.  Everyone and their mom at Goldman Sachs was in this market in 2014.  I talked to an avalanche of them myself.  They were all asking me questions out the wazoo.  When Goldman Sachs was attempting to take over Poloniex, I always thought it might have something to do with covering up the tracks of their Eth + Ripple manipulation (upwards).

[Lambie Slayer]

Recession Party (recent ath's in stocks) explained by milf.

https://www.cnbc.com/video/2019/06/20/dimartino-booth-were-having-a-recession-party.html

[Cryptotourist]

I'd like to contribute to this wonderful encyclopaedia of HODL  

• You easily identify beatrolls and you are immune to their FUD and BS.
  
  

Some contribution there buddy.
Immune is good. Lying isn't.

Keep calm & have a beat-roll.

[fallinglantern]

Here's a neat chart I saw comparing the Yuan devaluation to BTCUSD

[Lambie Slayer]

Stock boyz do own some coins, but the question is how much. Ive never held too much belief that Wall Street ever bought all that many coins but a recession will certainly put it to the test.

You would be wrong.  Everyone and their mom at Goldman Sachs was in this market in 2014.  I talked to an avalanche of them myself.  They were all asking me questions out the wazoo.

Yes, its a mystery. Maybe the Wall Street bonus memes were real.

Time will tell. I suspect it was more the workers themselves investing with small personal funds rather than the institutions themselves actually investing in most cases. This would explain all the questions you got from banker friends and family at your Bar Mitzvah