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

[Icygreen]

Elon Musk is selling his two houses (worth about $40 mil in total) and saying, ostensibly, that he would have "no possessions" because:

1. he thinks that we are at a RE top
2. he became a "revolutionary" [after mouthing off something something about "fascists"]
3. he is moving to China
4. he is selling TSLA to some Middle Eastern sheiks and would move there (Dubai?)
5. he is moving to Mars
6. he merged with AI and is about to control us all
7. he is having a midlife crisis
8. he is using RE sales to fund his BTC purchases.

What's it going to be? Please come up with %% of probability if you like.

1. 30% chance
9. option should be: Elon thinks we are nowhere near the top and wants to convince you to sell your shares early. 70%

[Biodom]

Pantera Capital CEO: Bitcoin Could Peak Over $500K in August 2021

Pantera Capital Founder and CEO Dan Morehead has predicted there is more than a 50-50 chance Bitcoin goes up “and goes up big”, with a predicted peak of over $500,000 in August 2021.

The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a April 30 letter to investors examining the performance of Bitcoin (BTC) prior to the May 12 rewards halving in comparison to gold, oil, and venture capital.

Initially hesitating to make any kind of prediction, saying he was “of two minds” as to how the halving would affect the price of the cryptocurrency, the CEO acknowledged “if the new supply of bitcoin is cut in half, all else being equal, the price should rise”:

“Bitcoin has historically bottomed 459 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards. The post-halving rallies have averaged 446 days – from the halving to the peak of that bull cycle. In this cycle, the market did in fact trough 514 days before the halving.”

However, Morehead then dropped a bombshell prediction:

“IF history were to repeat itself, bitcoin would peak in August 2021 – at $533,431. Obviously that’s a big IF. That price sounds ludicrous.... Just sayin’ that there’s more than a 50-50 chance bitcoin goes up – and goes up big.”

https://cointelegraph.com/news/pantera-capital-ceo-bitcoin-could-peak-over-500k-in-august-2021

This sounds a bit stratospheric, but the badger is capable of many things, In no case sell all your BTC.

Hi, $9,000

the original article has a more "modest" $115K prediction, not sure where the $533K number came from.
https://medium.com/@PanteraCapital/macro-impact-on-bitcoin-pantera-blockchain-letter-april-2020-1fdc792d4f33

...that would imply about 40% as much price impulse — bitcoin would peak at $115,212 /BTC.

[JayJuanGee]

Remember a couple of days ago we had $9,207, and about 5 days ago we had $9,485 (aka a fluke, or was it a "gift"?)....


so maybe rockets are in order.....?


or perhaps, just perhaps, this is all fake?  an illusion?

Well, in December 2017 we went from 10,000 to almost 20,000 in approximately 14 days, I am ready to go up or down, although I prefer to go up.

We seem to be in a kind of coiling phase currently, so it would seem very inaccurate to attempt to compare price movements that are at differing stages of their cycle.

Remember 2015 to 2016?  That is where we are at, which is a lot more ambiguous compared to being at the end of what ended up being a blow off top at the end of 2017 (even though, at that time, many of us, including yours truly did not believe that move from $10k to $20k was a blow off top).....

So, now we are still in a phase in which we are figuring out if the momentum is going to be UP or not.

Again, remember in 2015 and 2016 our top had been $1,163, so we beat around the bush in the half way there category for a long time, both on the way down in 2014 and on the way up that took us nearly two years, once we started going up to break through the previous ATH, but there was a considerable amount of time that we were not sure if we were going to go up, even in late 2016 when we were still attempting to figure out if the bitfinex "hack" situation had adequately been resolved or if it had broken bitcoin.

I have quite a few doubts that we can just break straight through $20k without a few corrections between our current price and $20k, but just like Phil_S said earlier today, honey badger does not like being too predictable, so surely in that regard, we might get some breaks that deviate from past patterns, perhaps, perhaps?

[Toxic2040]

Descending triangle, a very common top pattern on bitcoin

[img-snip-/img]http://

could be...we will have to see how it plays out..in the mean time..


                    FTFY

[bitebits]

Good read: https://unchained-capital.com/blog/bitcoin-is-common-sense/

[JayJuanGee]

Descending triangle, a very common top pattern on bitcoin

I thought that was called a bullflag?

There you have it.

Sufficient proof that we should be preparing our lil selfies for either direction... just in case.

[JSRAW]

What do you see?

[El duderino_]

Bitcoin may rise to $533,431 by August 2021, Pantera Capital CEO Dan Morehead wrote in a letter to investors

https://cointelegraph.com/news/pantera-capital-ceo-bitcoin-could-peak-over-500k-in-august-2021

Inject HOPIUM..... let it flow in my body

[Toxic2040]

Bitcoin may rise to $533,431 by August 2021, Pantera Capital CEO Dan Morehead wrote in a letter to investors

https://cointelegraph.com/news/pantera-capital-ceo-bitcoin-could-peak-over-500k-in-august-2021

Inject HOPIUM..... let it flow in my body

[JSRAW]

You are fast.. sway... I took good 10 mins haha

[LFC_Bitcoin]

Bitcoin may rise to $533,431 by August 2021, Pantera Capital CEO Dan Morehead wrote in a letter to investors

https://cointelegraph.com/news/pantera-capital-ceo-bitcoin-could-peak-over-500k-in-august-2021

Inject HOPIUM..... let it flow in my body

Previous halving rallies were 10,000% and 2,500%. What do we all think we will see this time?

[xhomerx10]

Descending triangle, a very common top pattern on bitcoin

 

[koryu]

Looks like we can prepare our moon boots again gentlemen.

I get more and more convinced that we saw a silkroad like shakeout. The dumping got absorbed and the price recovered, coins moved to strong hands, while the get rich quick crowd got deleveraged and has no coins.
Sideline money is in disbelief and hopes for a correction after halving. If thats not happening they will chase the price higher. Meanwhile the money printer goes brrrrr, not only in the US but in the whole world. The emerging markets currencies are already inflating while investors try to get their money out of these countries. If shit hits the fan there will be capital controls which will create additional demand for bitcoin. At the same time the block reward will be halved and the world learns about the bitcoin supply curve.
After the economy has recovered the monetary base has increased significantly and this base will be leveraged with additional debt inflating all asset prices.

 https://www.tradingview.com/chart/BTCUSD/VaNwtyrK-Did-we-see-a-silkroad-like-shakeout/

[OutOfMemory]

I took delivery of 28 TB of spinning hardness today. Nothing gets my watery sap rising more than quality storage these days.

2nd millennium mechanical storage? How about magnetic tape and paper punch cards?

Do you also use vacuum tubes (Eccles-Jordan bistable multivibrator circuitry) and revolving drum memory?

SSDs have been around for over 40 years, mainstream for 20, consumer/retail for well over a decade.

I concede that mechanical HDDs have some archival value but they're so slow and so fragile.

I guess they're cheap though. You get what you pay for.

SSD's are around for 40 years now. They were sized a few hundred kilobytes back then, survived a few thousand of writes (at best) and were pretty slow, agree?
OK, it's no more 198x now, so SSDs got faster, bigger and more reliable.
Wait... Is that all?
Let's see:

If a SSD with all your precious data on it dies. Can you recover it?
I guess not. And if so, the operation would be quite complicated.
Harddrives offer at least two options. Mounting the discs and reading the raw data, or changing the drives electronics (taken from a spare drive from the same production batch).

Hey, HDD's are there for a reason, and it's not only the low price.
Speaking of that, how much would you pay for 14TB on a single SSD?
(Might be a trick question, you'll find out).

I'll end the irony here. Just think for yourself, i'm sure you are capable of finding the right answers, just by doubting your own genius statement
...  
a
little
bit
...
(at least).

no offense  
laugh a little...

EDIT:
Damn! I just found out i'm actually RIDING A BICICLE!!! FFS!!!
I should immediately replace it with a jetpack, or i'm bound to using a 100s of years old mechanical transportation vehicle (so almost from stone age).

SCNR - please don't shoot me

P.S. All this talk of storage has me thinking that we all owe a little thanks to Joe Breher for his work in making these storage technologies possible.  Many people here see him as an argumentative pro-BSV "troll". He's a lot more than that.

Word. Seconded.
Humans are just prone to error. Like judging a whole person on a single opinion...

Tape is great for archival but the issue I think is a working drive to read it, I have millennium Disc blurays for family memories and what not. They're rated at 1000 years and can take a hell of a beating, plus they're cheap.  

Maybe, if they're stored in perfect conditions. (no light, right temperature, humididty, horizontal orientation etc.).
Also need to store a drive that can read them and hope that you have a compatible interface in 1000 years to connect it to  

[Last of the V8s]

All Members.

STAY HOME   ~~~~~~~  PROTECT THE NHS ~~~~~~~  SAVE LIVES



Now which branch member can this  be.  Is it one of the Officer’s stocking up?

 Come on own up

Oops – Name “Knight Sir”- Lost it.   Not again!!



Own up who can say that are losing weight during this lock down?

Thank you Stuart and Dennis for keeping me supplied with subject material
 

Hon Sec

[cafetools]

I think Tuesday and wednesday will break 10k, theres a lot of fomo, news coverage etc. But what do i care, im just a HODDLER for life. I live my life satoshi by satoshi

[OutOfMemory]

You guys with your stacked terabyte HDD’s. I’ll stick to the 1.44 MB not so floppy disks, conveniently strung together with a little help of ARJ. Even has a read only switch for eternal storage. Who needs blockchains.

I decorated the top of my table, made entirely out of punch cards, with my old 8-inch floppy disks, because i switched to 5,25" a week ago.
Anybody need a 8" drive? 50 pin cable included.

[OutOfMemory]

I think Tuesday and wednesday will break 10k, theres a lot of fomo, news coverage etc. But what do i care, im just a HODDLER for life. I live my life satoshi by satoshi

Arrr, she's coming down again.
Bears nailed to the $9k barrier, it seems.
However, i stay by my original prediction assumption of vegeta coming in some more times before i dust off the moon boots.
Accumulate it 

[Toxic2040]

not out of the woods yet..bears look to be trying to take a dip in the pool      dyor


stronghands

[Last of the V8s]