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

[makrospex]

So i followed that interesting conversation today...

Two medium educated men, proud of their 5%pa investments (stock market or fonds based, excluding inflation loss), were talking about bitcoin.
They said buying btc at the time would be dumb, because if you aren't an early adopter, it's just a ponzi.
Also, that if governments don't take measures against "this ponzi", they must be either holding OR they have no control over bitcoin.

Don't get me wrong, i would enjoy being simple minded like these two, but then i would also probably fomo all-in right before the next ATH (2022 probably?).
At that time, they might even ask me if i heard about bitcoin, and that i should sell my house to buy btc)

It's somewhat entertaining to find out it's ponzi only if you are not an early adopter.

And yes, they are the majority in the world, we are just a small and strange(!) minority.

I was tempted to introduce them into the concept of Sats and pull out the gold kilogram vs. ounce (or gram) comparison. I didn't do it for my own sake.
Would have been like teaching a turtle how to ride a donkey  

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[NeuroticFish]

I was tempted to introduce them into the concept of Sats and pull out the gold kilogram vs. ounce (or gram) comparison. I didn't do it for my own sake.
Would have been like teaching a turtle how to ride a donkey  

I fully understand you!
(I've learned that it's not healthy to assume a certain level of comprehension, especially in the "real world".)
Because there's quite a chance you may have more success with the turtle...

[mladen00]

Ex-KGB

There is no such thing as Ex-KGB...

there is; FSB

[BitcoinGirl.Club]

KGB, FSB, RGB(color code 😜 ); are we forming any secret agency?

Good morning WO!
Observing @ $7,889

When $Vegeta?

[jupiter9]

Exactly! When! Time is more important than price. When time is up price will reverse!

[Globb0]

Thanks Yoda

[AlcoHoDL]

Ex-KGB

There is no such thing as Ex-KGB...

Well... Litvinenko, Skripal...

That's what I meant. When you defect you either end up glowing in the dark from Polonium-210 or you've never actually defected.

[BitcoinGirl.Club]

Bitcoin 2021 TA 😜
Mind my words at your own risk LOL



So don't mind if we go under $2k 🤪
Keep buying and HODLing!
https://uk.tradingview.com/chart/BTCUSD/YLFlQDhk-Updated-Graph-Using-more-intense-facts-and-knowledge/

[fillippone]

Thanks Yoda

There, my last merit goes to Globb0, well deserved for his comic time.
Dry again.

[El duderino_]

uh...

https://twitter.com/MessariCrypto/status/1215030003261460497

Ooooor there was a coincidence price pump

Like a few times before this year...?

[FullNode]

My activity continues to increase, intrigued where stop before the next update

[makrospex]

Thanks Yoda

There, my last merit goes to Globb0, well deserved for his comic time.
Dry again.

Sent you my last one, so you need only one more to gain a sMerit again.
Have a nice day, i'm off for quadruple child care.

[BitcoinGirl.Club]

My activity continues to increase, intrigued where stop before the next update

Yo bro!
That username.
Good one 😀

<snip>

Sent you my last one, so you need only one more to gain a sMerit again.

Always out of this shit!

[FullNode]

Salma used to be something of a thread mascot.
Anyway, very nice pair of earrings.

A tremendous Milf this distracts my attention here there is a lot of fuel to go to the moon

[El duderino_]

uh...

https://twitter.com/MessariCrypto/status/1215030003261460497

Ooooor there was a coincidence price pump

Like a few times before this year...?

Ooooor,

Bitcoin has never shown much correlation to gold or other SOVs. That is, until now.

This is incredibly bullish for BTC.

Here's Why



https://twitter.com/Rewkang/status/1214983170862399488?s=20

1) There is a concept in economics called "reflexivity", popularized by the famous HF Manager George Soros.

Basically, it means that our subjective beliefs of markets can actually influence their underlying fundamentals through increasingly stronger positive feedback loops.
https://twitter.com/Rewkang/status/1214983173416767488?s=20

2) Reflexivity has been well studied in credit cycles.

Firms that investors believe have strong creditworthiness are able to obtain more favorable loans. This puts them in a stronger financial position and less likely to default. The perception of creditworthiness increases.
https://twitter.com/Rewkang/status/1214983175232872448?s=20

3) The main argument for bitcoin is as a Store of Value, a hedge against global uncertainty - similar to gold.

However, bitcoin has never had strong price correlations with gold, failing to react to macro events while gold moved sharply.
https://twitter.com/Rewkang/status/1214983183961182208?s=20

4) During the Iran-US series of events the last few days, you could watch in real-time as Bitcoin mirrored Gold & Crude Oil's sharp price movements.

When Trump on Live TV made it clear that de-escalation was a priority, you could see both BTC and Gold drop hand in hand
https://twitter.com/Rewkang/status/1214983186012237824?s=20

5) Even though this price movement may have been driven by speculators, many investors have noticed, and this will have strengthened their belief in BTC as a hedge to global uncertainty, leading to more people trading BTC on macro events.
https://twitter.com/Rewkang/status/1214983187618643968?s=20

6) Whether they are frontrunners, speculators, or actually hedging, it doesn't matter. The resulting impact is further increased correlation and thus increased belief in BTC as a SOV/macro hedge.
https://twitter.com/Rewkang/status/1214983189204066304?s=20

7) This feedback loop will continue, causing BTC to continue to appreciate while capturing premiums from other SOVs and for enough data to be produced that even the strongest skeptics will not be able to deny BTC's utility.

This is why I'm bullish.
https://twitter.com/Rewkang/status/1214983190881787905?s=20

Reflexivity in Credit Markets:

http://its.caltech.edu/~jin/GHJ_Paper_FINAL_20190403.pdf
https://twitter.com/Rewkang/status/1214983937904107521?s=20

[JSRAW]

uh...

https://twitter.com/MessariCrypto/status/1215030003261460497

Exactly my thoughts after reading the news today, expressed in a picture 
If gold price shows identical actions, it might be true, i guess.

looks more or less same. http://www.infomine.com/investment/metal-prices/gold/1-week/


Gold powers towards 7-year peak as investors rush for safety

Market (Safe asset) always reacts whenever uncertainty arise in political arena/war etc.

Is It worth it? I don't have any opinion on regular asset class.

But In context of recent small pump in BTC and war speculations, nope its not worth it and i do not want this.

Ooooor there was a coincidence price pump

Like a few times before this year...?

I never hold my breathe on small pump or dump, so who care if its coincidental or not . apparently everyone here are eyeing on big numbers so let's concentrate there.

[El duderino_]

One month later from this on-chain momentum switch, re-accumulation bottom completed. Daily candle closed just minutes ago and we're above the bearish channel that held us for 6 months.



https://twitter.com/woonomic/status/1214699890070081536?s=20

On-chain momentum is crossing into bullish. Prep for halvening front running here on in. Can't say what this indicator is, as it's proprietary to
@AdaptiveFund
, but it tracks investor momentum. The bottom is mostly likely in, anything lower will be just a wick in the macro view.



https://twitter.com/woonomic/status/1203280379479830528?s=20

[FullNode]

My activity continues to increase, intrigued where stop before the next update

Yo bro!
That username.
Good one 😀

<snip>

Sent you my last one, so you need only one more to gain a sMerit again.

Always out of this shit!

Yeahhhh suitable for bitcoin

[El duderino_]

Page 25777 ask for a classic ....

https://m.youtube.com/watch?v=KNzquU4hjpk

[FullNode]

My Satoshis and I happy to progress in the thread.
Goals 2020
* get 1BTC
* get activity
* get rank
* get 1 hat
FullPack