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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25489675 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (158 posts by 14 users with 9 merit deleted.)
Stevenirving
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March 12, 2020, 05:45:25 PM
Merited by El duderino_ (10)

Just woke up. Cant believe there is such an amazng time to invest again... he said crying into his cereal.

To anyone panicking remember all u gotta do is sit tight. Hodl and wait. Unless the human race is about to go extinct this will pass as it always does and bitcoin will rebound.
Like always use this time to accrue more hodlings.
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March 12, 2020, 05:50:19 PM

QE4 is official, guys. Because the Fed needed a reason the public would accept.

https://www.cnbc.com/2020/03/12/fed-to-pump-more-than-500-billion-into-short-term-bank-funding-expand-types-of-security-purchases.html
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March 12, 2020, 05:50:30 PM

I can't believe the Bargain Boyz got their shot.

OTOH, so happy for the discounted extra coins.
Fiat hit exchange so fast, I didn't even blink.

We have our double bottom on the 200 WMA.
THANK YOU WHALES. YOU MAY FUCK OFF NOW.

I dont think Bargain Boyz were expecting this, but I can tell by the volume they scooped up a ton of coins in the Bargain Buy Zone. Grin
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March 12, 2020, 05:54:40 PM


This is all over 2008 again.

Good news, $100k/btc incoming.  Bad news, $100 for a loaf of bread, or a roll of TP
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March 12, 2020, 05:56:27 PM

I dont think Bargain Boyz were expecting this, but I can tell by the volume they scooped up a ton of coins in the Bargain Buy Zone. Grin
About 30k volume on stamp during the up/downs, yet only 1k coins on the book before we reach $8k, so not that much to scoop up.
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March 12, 2020, 05:56:58 PM

not today bitcoin  Kiss  weeeeeeeee\\\vvv

Just to make myself feel better I looked up Bitcoin Instant. Its not affected by the sell-off because it hasn't been traded in 5 days weeeeeeeeeeeeee  Wink
LOL TrannyBitz and his Bitcoin Instant.  
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March 12, 2020, 06:01:07 PM
Merited by El duderino_ (5), JayJuanGee (1)

Hey guys, cheer up! This storm in a cup of tea will pass out. (I am referring to Coinbase, where thousands of small fish were panic selling like hell all day.) Although I shot my bullets at $9K and $7.8K, I am not frustrated. On the contrary, I am not even bothering to transfer any of my $23K reserve, which is the very last that I can afford. This is kept only if the price falls way below my main entry point. I expect, however, the price to recover in the next 2 weeks, similarly to the 3-4 Feb 2018 roller coaster 11k-6k-11k.

Since we all love to make predictions, I will make some bizzare prediction for the Summer of 2020. In early 2019 when the price fell to 3K, I was giving <10% chance for the price to recover at $6.4 by the Summer. Above that I wasn't even considering the chances. For example, the Deribit exchange probability chart looks exactly what I was thinking:



And still Bitcoin exploded 4.5x from the bottom. Now, I would give <0.1% chance to repeat that run starting with today's Bitstamp bottom $5714. This would lead to a local top at $25 713 sometime in the Summer. And to make the chances smaller, let's asume a 5x bull run, i.e. $28 750. After that, another 2-6 month correction between 35% and 45%. I know, this is strong hopium.  Grin I would give >50% chances for the price to be around 10K this Summer. There are obviously strong resistances above 10K and of course the ATH 20K. I am just saying that Bitcoin did this several times in 2017 and 2019. In the Spring of 2017 a run from $700 to $2800 and in the Fall of 2017 a run from $1800 (local bottom in the Summer) to $20K. I am just saying that for some reason king Bitcoin turns such odds into reality way too often. So, we shouldn't consider it as impossible. Even 10x in 6 months...

Of course, we should prepare mentally for a long wait in case this corona shit is getting worse. This is just another time extension to buy moar cheap coins. And with such strong shakeouts of the weak hands, it is always better that the coins land into more responsible and strong hands.
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March 12, 2020, 06:01:39 PM

Galaxy Digital CEO Mike Novogratz has attempted to explain what exactly happened to Bitcoin's safe haven status. In his new tweet, he writes that investors tend to 'take leverage down' and book profits during such black swan events.

via Imgflip Meme Generator

Not a hedge asset

From the U.S. stock market suffering from its quickest correction since the Great Depression to oil prices plummeting 16 percent — this week will surely go down in history.

When global markets got gripped by a ruthless sell-off, Bitcoin failed to serve as a store of value, which many believe should be its main use case. In fact, BTC performed worse than any traditional asset, shedding 15 percent of its value in less than a week. At press time, it is just trading just below its key support level of $8,500.

Bonds, not Bitcoin

While gold bugs were quick to dismiss Bitcoin's as a hedge against economic uncertainty, Novogtatz's claim about investors booking profit definitely holds water.

One of the biggest surprises of this tumultuous week was the gold price recording a five percent drop on Friday. The yellow metal is considered to be the most robust store of value.

Just like during the 2008 crisis, investors started liquidating both stocks and gold for covering their margin calls. Bonds and cash turned out to be the real safe haven. 
https://u.today/mike-novogratz-explains-why-bitcoin-btc-is-failing-as-safe-haven

During his recent interview with TD Ameritrade Network, Ari Paul, the CTO of BlockTowerCapital, agreed with Galaxy Digital CEO Mike Novogratz that more money printing initiated by central banks around the globe could be the most bullish case for Bitcoin (BTC).

Is #bitcoin’s store of value use-case broken after its big break from bonds and gold? $btc@AriDavidPaul weighs in:

However, he predicts that Bitcoin could mirror gold in 2008 with a delayed reaction to the looming economic crash.

More aggressive rate cuts

As reported by U.Today, the U.S. Federal Reserve did a 50 bps emergency rate cut on March 3 to cushion the devastating blow from the coronavirus pandemic. However, it provided only a temporal relief for the equities market that had its worst day since the previous recession on March 9.

Now that President Donald Trump calls the Fed 'pathetic' and pressures it to cut rates in a more aggressive manner, things could get really bullish for Bitcoin as Novogratz predicted earlier.

"I totally agree with Novogratz that the strongest bull case for Bitcoin is what we are seeing right now, which is the entire U.S. Treasury curve below one percent," Paul said.   

https://u.today/mike-novogratz-thinks-its-strongest-bull-case-for-bitcoin-btc-ari-paul-agrees

Yeah big picture this is very bullish for King Bitcoin.
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Shitcoin 3.0 Distribution Now Underway


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March 12, 2020, 06:13:01 PM

Yes folks, my college days were interesting to say the least

https://www.youtube.com/watch?v=c431Cxat4fk

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BTC or BUST


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March 12, 2020, 06:16:38 PM

This is just straight up bullshit..
Bitcoin was supposed to be protection from shit like this, not just dump right off right along with the mainstream economy..
I'm pissed..

I'm sure you guys have 20 excuses for why "China Virus is Bullish" was so totally wrong..
All I can think of is TYVM regulation shills and mainstream market adoption shills..
Now BTC is tied right to the funny money markets, WTF is it good for now?

No, I didn't lose any trades on this or sell anything, but this is totally shaking by belief of what Bitcoin is supposed to be..
This is the exact opposite of what Bitcoin is supposed to do.. Great global markets crashing and there goes Bitcoin plunging right along with it..

Feds announce massive market bailouts.. Bitcoin doesn't even move..
mindrust
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March 12, 2020, 06:18:55 PM

This is just straight up bullshit..
Bitcoin was supposed to be protection from shit like this, not just dump right off right along with the mainstream economy..
I'm pissed..

I'm sure you guys have 20 excuses for why "China Virus is Bullish" was so totally wrong..
All I can think of is TYVM regulation shills and mainstream market adoption shills..
Now BTC is tied right to the funny money markets, WTF is it good for now?

No, I didn't lose any trades on this or sell anything, but this is totally shaking by belief of what Bitcoin is supposed to be..
This is the exact opposite of what Bitcoin is supposed to do.. Great global markets crashing and there goes Bitcoin plunging right along with it..

Feds announce massive market bailouts.. Bitcoin doesn't even move..

Calm down. Even gold is down.

Bitcoin is alternative to the Central Banks. It is a parallel banking system. Good or bad the legacy banking is still functioning.

What do you think people gonna use for buying stuff from Ebay when banks are gone? Physical gold coins with Fedex?

USD is destorying itself right now. You may just not notice it yet.

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March 12, 2020, 06:19:03 PM

https://www.nytimes.com/1987/01/30/us/aids-may-dwarf-the-plague.html  Roll Eyes
El duderino_
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March 12, 2020, 06:19:12 PM

$7000 BTC in one hour  Kiss

Would feel like a victory today  Shocked Roll Eyes Grin
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March 12, 2020, 06:19:42 PM

This is just straight up bullshit..
Bitcoin was supposed to be protection from shit like this, not just dump right off right along with the mainstream economy..
I'm pissed..

With all due respect if you believed Bitcoin would somehow be immune to the global economy tossing its cookies then you are a silly sausage.

Bitcoin is owned by people. People tend to react to extreme things in the same manner no matter what the arena.

Let's see what the recoveries look like and judge again.
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March 12, 2020, 06:19:46 PM
Merited by BobLawblaw (1)

"there is nothing more helpless and irresponsible than a man in the depths of an ether binge."
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March 12, 2020, 06:20:03 PM

Is it now officially open to say........... All TA is flawed most of the times?  Roll Eyes

Or just all the times
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March 12, 2020, 06:23:03 PM

Feds announce massive market bailouts.. Bitcoin doesn't even move..

To be fair, the "market" wasn't impressed with those bailouts either... S&P is still down 8%.
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March 12, 2020, 06:31:20 PM

New poll, what concerns the WO most

BTC or Corona
Corona. Corona. Myyyy Corona!

Edit: Oh, an actual poll. I can't answer that. Bitcoin is my economic salvation and I am not worried about Corona-tama. On the contrary, it is highly interesting and in the long term the upsides to a plague like this may outweigh the damage it does. I just hope my folks don't get sick but other than that, bring on the kung flu.
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March 12, 2020, 06:35:16 PM
Merited by Torque (1)

This is just straight up bullshit..
Bitcoin was supposed to be protection from shit like this, not just dump right off right along with the mainstream economy..
I'm pissed..

I'm sure you guys have 20 excuses for why "China Virus is Bullish" was so totally wrong..
All I can think of is TYVM regulation shills and mainstream market adoption shills..
Now BTC is tied right to the funny money markets, WTF is it good for now?

No, I didn't lose any trades on this or sell anything, but this is totally shaking by belief of what Bitcoin is supposed to be..
This is the exact opposite of what Bitcoin is supposed to do.. Great global markets crashing and there goes Bitcoin plunging right along with it..

Feds announce massive market bailouts.. Bitcoin doesn't even move..

Bitcoin is long term protection. Long term the Chinese Flu will be bullish for it. If someone had stocks and wanted something that moved at a perfect inverse then you short those stocks. The Dude already posted a nice article that discussed gold getting rekt in 2009 w stocks before it took off to the moon.

If you bought VT (the total world stock index of Vanguard) and Bitcoin on Dec 31 the day Coronavirus became a global story, then you lost about 24 percent on the world stocks, and about 15 percent on Bitcoin.

Bitcoin has outperformed stocks despite plus token scammers selling at any price.

Also global stocks wont be cutting their supply in half in 59 days, while Bitcoin will.

A famous nocoiner Warren Buffet said "Price is what you pay, Value is what you get."  Buffet was right about this one. This new flu that has only killed a small amount of people and is subsiding in China already has caused tremendous money printing already and much more to come.

Today that may not have increased the price of Bitcoin, but the value has increased greatly and when all the noise washes away the price will reflect that down the road.
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March 12, 2020, 06:37:33 PM


https://twitter.com/spectatorindex/status/1238166848551538688
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