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

[ivomm]

Good morning Bitcoinland.

Bouncy bouncy. After briefly touching 5 digits we're back in the mid-$9xxx range again... currently $9635USD/$13006CAD (Bitcoinaverage).

Did someone mention boring?

Man-Bear-Whales

Ahhh. The memories.



An historic event in Bitcoin's history, the slaying of Man-Bear-Whale Oct 6, 2014:

https://vimeo.com/273629899

I got lucky and watched it as it happened.

Spartan support at $300.

I've read about this epic moment in Bitcoin history, but for the first time I saw that video. Impressive! I have no doubts that all the bears will be slayed like this.  And if the bear feels bad now at 9K, imagine how bad it will feel at 100K.

[machasm]

Good morning Bitcoinland.

Bouncy bouncy. After briefly touching 5 digits we're back in the mid-$9xxx range again... currently $9635USD/$13006CAD (Bitcoinaverage).

Did someone mention boring?

Man-Bear-Whales

Ahhh. The memories.



An historic event in Bitcoin's history, the slaying of Man-Bear-Whale Oct 6, 2014:

https://vimeo.com/273629899

I got lucky and watched it as it happened.

Spartan support at $300.

I've read about this epic moment in Bitcoin history, but for the first time I saw that video. Impressive! I have no doubts that all the bears will be slayed like this.  And if the bear feels bad now at 9K, imagine how bad it will feel at 100K.

That truly was epic.
He placed his 30,000 at 300 which equates to $9,000,000 the Bart move the other day on the dump was around $60,000,000. The stakes are higher now although back then BTC didn't have as many followers so impressive nonetheless.
Is that where the Sparts meme comes from?

[JayJuanGee]

Put up a little fight, and don't allow me  to triumph too easily.  Touché.  

Alexa, show me JJG's triumph final lap.

...

Doesn't look good.... if true.

[jojo69]

this here is a bunch of bullshit

[cAPSLOCK]

Nasty.

At some point the shorts will cover though.

[qwizzie]

There goes $9,500

[UnDerDoG81]

These exchange hacks really suck not only for the people who lost their coins but also for the price. Whoever drives the price down, might be some hackers with stolen coins.

[cAPSLOCK]

So take a look at the stock market today... We might be moving with it again.

BTC is tracking with Stonks and oil, while gold holds.

[vapourminer]

@fillippone

That sucks man. Can you imagine the heart dropping feeling if you were to click send & see what you’d just done?

i had a very similar heart stopping moment sweeping a paper wallet many years ago. clicked, realized my mistake (failed to sweep all of it.. dont ask and this was before RBF, if that even would of worked with the wallet i did it with, dunno). man till i verified the change went back to the paper wallet addy.. well.. not a good feeling. that 10-20 minutes till a few confirms went in. otherwise it would of been donated to the miners as the fee if i recall the rules correctly.

2/10 would not recommend.

TLDR    check it several times when messing with stuff.

[AlcoHoDL]

@fillippone

That sucks man. Can you imagine the heart dropping feeling if you were to click send & see what you’d just done?

i had a very similar heart stopping moment sweeping a paper wallet many years ago. clicked, realized my mistake (failed to sweep all of it.. dont ask and this was before RBF). man till i verified the change went back to the paper wallet addy.. well.. not a good feeling.

TLDR    check it several times when messing with stuff.

Yeah, I hear you.

I remember once I was transferring some amount of BTC (double digits) and was waiting for the confirmations. It took a while. Man, that was a long wait. But it went through eventually. It's always gone through. Never lost a sat. The Bitcoin network is a model of robustness. But it won't forgive you if you make a mistake. Which is one of its powers. No safety net. No customer service/bank to call to. WE are the bank, so we'd better give it the respect it demands.

HoDL.

[JimboToronto]

Is that where the Sparts meme comes from?

No. It originated in the autumn 2013 bull run when Bitcoin first hit $300.

It represented about double the ATH from the spring 2013 bubble, so it was deemed important by many, just as $3k was in 2017.

Many feel that way now about $50k.

[JayJuanGee]

And bitcoin drops back to 9700. This is really kind of boring. Blah.

9600 even waaaaay more boring

This feels so 2014/15 I remember very well those early Bart Simpson moves between 400$ and 600$. It looks we need to cook more before starting the rocket.
Personally, I don't care. This is a good accumulation range before the rocket era.

The moves between $400 and $600 were in 2016.

2014 was like a downward spiral similar to 2018.. and 2015 was way fucking worse than 2019 (until the end of 2015), because it was flat through the whole year pretty much with ongoing threats to break below $200.. with only one short-lived bout above $300... So, 2015 was almost like 2019 without the 3.5x price rise in the middle.  

Do you even appreciate how much a 3.5x rise in the middle changes the dynamics?

If we had spent 2019 flat, like we were in 2015, then maybe we would have lingered between $3,400 and $4,200 for most of the whole of 2019 with maybe a bout of a bounce up to $5,350 and then resuming within our $3,400 and $4,200 price range, and then in late august getting a retest of something close to $3,124.. and then maybe in October/November 2019 getting a bounce to $6.9k.. and then reverting back to ranging between $5k & $6k for then next 6 months - until the end of May 2020.

From my illustration, above, you should be able to appreciate that so far, this cycle has been waaaaay less painful than the cycle that drug out through 2014, 2015 and most of 2016...... even though there were signs of optimism in 2016...  and currently we are way more into a kind of a 2016 feeling than in a 2015 feeling.. which currently is a lot more optimistic than those times... with a current feeling that the bottom (currently $3,124) is "in" (and maybe we can even feel somewhat comfortable about not again going below $5k or maybe $6k? - less certain about those numbers), even though nothing is guaranteed in bitcoinlandia.. especially given our current macro circumstances involving the ongoing inflating of the equities market (including pumping of admittedly bankrupt companies) by dollar printing, which could come crashing down at any time for any or no reason.

TLDR:  In current BTC market conditions, I surely feel better (less pain and stress) now and more like 2016 rather than how I was feeling in 2014/2015.

By the way, I do agree with you that we are likely still in a decent accumulation zone, and there are likely a decent number of bear whales that really want to make sure that all or most of the weak hands have been shaken out before proceeding into supra $10k territory.. because things might start getting a bit out of control the more that the BTC price is allowed to go UPpity.

And bitcoin drops back to 9700. This is really kind of boring. Blah.

9600 even waaaaay more boring

This feels so 2014/15 I remember very well those early Bart Simpson moves between 400$ and 600$. It looks we need to cook more before starting the rocket.
Personally, I don't care. This is a good accumulation range before the rocket era.

Yep exactly how I remember it.

Yeah... and you would be exactly wrong in your memory, too..  (see my response above  - hate to cite myself as the authority, but gotta do what you gotta do.. and haters gonna hate... )

 

[Toxic2040]

Good morning gentlemen


Seems like we are experiencing a subtle fractal from last year imho. Support in the $9k range appears to be much more robust this year compressing its shape somewhat.   #dyor

D

#stronghands

[AlcoHoDL]

[DaRude]

Good morning Bitcoinland.

Bouncy bouncy. After briefly touching 5 digits we're back in the mid-$9xxx range again... currently $9635USD/$13006CAD (Bitcoinaverage).

Did someone mention boring?

Man-Bear-Whales

Ahhh. The memories.



An historic event in Bitcoin's history, the slaying of Man-Bear-Whale Oct 6, 2014:

https://vimeo.com/273629899

I got lucky and watched it as it happened.

Spartan support at $300.

I've read about this epic moment in Bitcoin history, but for the first time I saw that video. Impressive! I have no doubts that all the bears will be slayed like this.  And if the bear feels bad now at 9K, imagine how bad it will feel at 100K.

That truly was epic.
He placed his 30,000 at 300 which equates to $9,000,000 the Bart move the other day on the dump was around $60,000,000. The stakes are higher now although back then BTC didn't have as many followers so impressive nonetheless.
Is that where the Sparts meme comes from?

Man-Bear-Whale later realized that he fucked up and re bought some corn back, or at least he signed a message saying so. So wouldn't worry for him

[JayJuanGee]

Good morning Bitcoinland.

Bouncy bouncy. After briefly touching 5 digits we're back in the mid-$9xxx range again... currently $9635USD/$13006CAD (Bitcoinaverage).

Did someone mention boring?

Man-Bear-Whales

Ahhh. The memories.



An historic event in Bitcoin's history, the slaying of Man-Bear-Whale Oct 6, 2014:

https://vimeo.com/273629899

I got lucky and watched it as it happened.

Spartan support at $300.

I recall watching it, too, and I recall buying into it, too..... I looked through my records, and I could not see how much I bought, exactly, but my memory of the event was that I had wanted to be part of the buying because it felt like a pretty BIG deal, even while it was happening, but I did not have a lot of spare money at that particular time, and there was some uncertainty about how the whole wall of coins would resolve.  

I am pretty sure that I bought into the wall, and I bought less than 1 bitcoin during the time because I had already been buying BTC several times around that time because the BTC price continued to be on a downwards trajectory, and I even recall that there was some kind of Fed Marshals auction or something that preceded the bearwhale event, and a lot of those fed marshall coins were sold while the BTC price was around $385... and I had been fairly confident that the bottom was then in.. so I had exhausted a lot of my spare fiat in the upper $300s.. prior to the bearwhale event... live and learn.. I am not sure.. but when the BTC price is going down for so long, it continues to be quite difficult to NOT exhaust your fiat at various points above the bottom out of hope that the bottom is in (when it ends up NOT being the case).

And, sure the man bear whale was a kind of symbolic event in which the conquering was surely ONLY short-lived (the price went up only briefly and then went down below $300 soon thereafter - within about three months) because the BTC price did linger well below the $300 sales price for over a year after such event.  So maybe the man-bear-whale was conquered and allowed the BTC price to stay above $300 for a few months but the downward pressure continued through the following months and the whole buying support of the community seemed to have exhausted for a year thereafter without enough dry powder to keep BTC prices above $300.. not until one year later...

Call me party poop, if you must (again).  

[cAPSLOCK]

Yuck, yuck... yuck.

[JayJuanGee]

These exchange hacks really suck not only for the people who lost their coins but also for the price. Whoever drives the price down, might be some hackers with stolen coins.

Always looking for simple and dumb explanations.


Have you ever heard about normal bitcoin price movements?

The BTC price has largely come up from the mid march correction of $3,850 with only one or two mediocre corrections, and many of us who have been following BTC for a while realize that we should not take for granted that BTC's price is just going to go up, without some profit taking from time to time (which also allows for the shaking out of some weak hands).

In other words, even though BTC's price does go shooting up 2x or 3.5x in short periods of time, it is quite unrealistic to presume that such upward shooting BTC price moves are going to continue to take place without at least a certain amount of correction, profit-taking. weak-hand shakening, etc..  here and there... along the way.

So take a look at the stock market today... We might be moving with it again.

BTC is tracking with Stonks and oil, while gold holds.

Go buy gold then.  Good luck with that.  See ya...

[qwizzie]

Interesting...

[V8s Road Warrior]

Last one left tidy the chairs and switch off the lights