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October 22, 2020, 04:15:49 PM *
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Question: Oct. 23 Closing Price:
<$8,000 - 2 (3%)
$8,000-$8,500 - 0 (0%)
$8,500-$9,000 - 0 (0%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 0 (0%)
$10,000-$10,500 - 1 (1.5%)
$10,500-$11,000 - 0 (0%)
$11,000-$11,500 - 3 (4.5%)
$11,500-$12,000 - 5 (7.6%)
$12,000-$12,500 - 16 (24.2%)
$12,500-$13,000 - 12 (18.2%)
$13,000-$13,500 - 8 (12.1%)
$13,500-$14,000 - 5 (7.6%)
>$14,000 - 14 (21.2%)
Total Voters: 66

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 23387920 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. (148 posts by 37 users deleted.)
ivomm
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August 21, 2020, 08:31:57 AM
Last edit: August 21, 2020, 08:45:17 AM by ivomm
Merited by JayJuanGee (1), Last of the V8s (1)

'2x per year' lines update (vs 7-day average):



This has been my №1 chart since you've posted it first here. We may notice that the lower line corresponds to a 2x price increase per year if we round the price to 50$ at the start of 2013. That is an exponential growth 50x2^t, where t is the number of years since 2014. The remarkable thing is that for 7 years Bitcoin has kept hitting these numbers on the way down after several extra exponential growths related to the halvings. And now Bitcoin is even above the line unlike 2015 and most of 2016. This is a strong sign that the exponential growth will continue at least in the next 2-3 years. We can't be sure if 2021 will have that extra growth, but the longer we stay close to the lower line, the better. Sooner or later Bitcoin will touch and may pass through the upper line for a period.

With that regard, what software/site do you use for that chart? I would like to make my own chart with years up to 2025.  In my opinion the lower line is very close to the real price of bitcoin, since it reflects the increasing demand (new accounts added to exchanges, etc.) vs selling pressure on exchanges. For the latter one can judge from the total exchange ballance, which has decreased from 2.8 mil to 2.4 mil in the last 6 months. We can easily find the line equation for each year so that for each day or month the price point is found. Something like y=(x/3)*1600+6400. For example at the end of August (x=8), the price for the bottom line is y~$10 666. We are over 10% above that, so all is good!
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El duderino_
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August 21, 2020, 08:57:02 AM

The world's most powerful call to action is

Buy Bitcoin

https://twitter.com/pierre_rochard/status/1296531938111565825?s=21
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August 21, 2020, 10:34:13 AM

But, hey, considering BTC price bottoms, you had seen that PlanB tweet from yesterday about the 200Weekly Moving average? Dude posted it, below.


>>>>>ICYMI: #bitcoin  is nicely moving away from 200 week moving average. 200WMA is currently $6400, is increasing $200 per month, and has never decreased. Best of all, BTC monthly close has never been below 200WMA.<<<<

https://twitter.com/100trillionusd/status/1296005407983403008?s=21

Can't we have some assurance that the bottom is in (or at least the bottom keeps moving up)?  So, in other words, maybe we can feel a certain level of confidence that BTC prices are not going below $6,400... so even $3k or sub $200 is even more out of the question - into the rearview mirror... and with the passage of time, we can start to feel even more confidence regarding even higher and higher bottom BTC prices... because the bottom keeps moving up with the 200 week moving average, no?

Here's the chart from that PlanB tweet:



The bottom is something that is very slippery terrain for BTC, I think it would be pretty frivolous to say that we will never go below $6400 again, because just a few months ago this is exactly what happened. Of course, the x factor should always be taken into account - and in the last case it was the declaration of a pandemic that shook the entire world market - and we know that in the case of anything like that, the price easily goes down and more than 50%.

I would still take the price of $4000 as something that BTC can go backwards, but only if something very negative happens (say a big hack of Coinbase or Binance). Yet what interests me more at the moment is the percentage of correction after the next big bull run, because if we were to reach say $100k, is it realistic to expect us to fall to $20k? The past has shown that this is possible, will it be the same this time?
cygan
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August 21, 2020, 11:32:27 AM

this👌👍
Quote
Bitcoin (BTC) will only stop gaining in value if “something unexpected” stops it, Bloomberg researchers believe.
https://cointelegraph.com/news/only-something-unexpected-can-stop-bitcoin-price-bull-run-bloomberg
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August 21, 2020, 11:34:44 AM
Last edit: August 21, 2020, 12:36:43 PM by STT
Merited by JayJuanGee (1), LFC_Bitcoin (1), Last of the V8s (1)

It probably will be the same on a large scale, whats dangerous is the large movement possible has most risk for the newest users as they are also buying in at the higher prices.   No doubt some bought at the wrong time at 2017 and over invested in some way.    Its better if we move slowly, 2x is still pretty fast for an average annual gain.

Quote
shook the entire world market
I do see that happening again but it perhaps could also be some dollar shock which isnt bearish for BTC.   Lots of change is possible, some of it benefits some over others.   Hopefully not too many volcanoes blowing up which nobody is really gaining from though everything has its place in the grand plan I guess :p    We're likely in a pivotal area of finance history, things that take place over decades are going to move though who knows when exactly.

Price is currently failing momentum a bit, dipping below weekly average I'd say its in a negative mood but I'd also not expect it to especially sell off into a weekend though of course news can do that.   More something to consider entering in Japanese trading hours.
Quote
Quote

So this dude is calling for a 'mean reversion' which he believes based on history of dollar decline is an overvaluation of dollar and he projects a steady loss of value until at least 2024.  
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what is this "brake pedal" you speak of?


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August 21, 2020, 11:38:42 AM
Merited by LFC_Bitcoin (1)

Regardless of Kraken's limits I don't think that your bank would be entirely happy to receive millions if your usual account size, is, say 10K or less.


Call them at least before ! Then depending on the bank they might close your account, or invite you to try this 50 old liquor with a cigar...

i didnt notify mine. and while it wasnt millions (i wish) it was an amount that, well, they certainly didnt mind. all they did when i transferred x amount was try to get me to use their banks investment adviser in addition to my own.

i did tell them what bitcoin was and let them know coinbase was a regulated usa exchange etc (this afterward when i showed up in person) although im sure they checked that beforehand.

i had linked that bank account with coinbase back in 2013 or thereabouts so they already knew about it for sure.

BobLawblaw
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August 21, 2020, 12:12:02 PM

Number going down.
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August 21, 2020, 12:29:36 PM

Number going down.

yep. stock futures, gold silver also. tis the end i tell u
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August 21, 2020, 12:29:53 PM
Merited by Hueristic (1)

Number going down.

Meh, all just noise. The end destination doesn’t change.

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August 21, 2020, 12:41:19 PM

this👌👍
Quote
Bitcoin (BTC) will only stop gaining in value if “something unexpected” stops it, Bloomberg researchers believe.
https://cointelegraph.com/news/only-something-unexpected-can-stop-bitcoin-price-bull-run-bloomberg

Lol.

Bloomy news soo expensive

Best quote. Maybe an unexpected sell off?

 Grin
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August 21, 2020, 01:18:58 PM

Shit is getting out of hand. Was just about to post this.

It's a chain swap as JL0 pointed out, so no new tether were effectively minted. They're just rearranging their furniture.

It's actually good(bad) for ETH.  Good as it is validating it, bad as it is going to add so much more to the centralization of it.

I seriously wonder why they don't use Liquid USDT.  SUCH a better design.


Not centralized enough. Cheesy

That's actually an interesting point.

Liquid is a Federated trust model.  Very much centralized. And openly.  Ethereum is a "decentralized world computer (code is law)" that is probably about as "decentralized" as liquid, except no one is actually sure who is controlling it.
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August 21, 2020, 01:56:34 PM

Number going down.
Or poised to go up
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August 21, 2020, 01:58:52 PM

Setting lowball bids at $9699
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August 21, 2020, 02:02:04 PM
Merited by JimboToronto (1)

Number going up...
Number going down...

Guys, you're just reading the noise.

Number has been going up since 3 January 2009.
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August 21, 2020, 02:04:32 PM

Number going up...
Number going down...

Guys, you're just reading the noise.

Number has been going up since 3 January 2009.
So very true but its an obsession I have to admit
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August 21, 2020, 02:11:13 PM
Merited by Torque (1)

Just for the LULZ.

https://youtu.be/GI7sBsBHdCk

Has been posted before, but hey, still funny!

Money printer go brrrrrrrrrr...!
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what is this "brake pedal" you speak of?


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August 21, 2020, 02:13:08 PM

Number going up...
Number going down...

Guys, you're just reading the noise.

Number has been going up since 3 January 2009.
So very true but its an obsession I have to admit

as someone already noted its much more fun to read the WO 1st and then guess the price. then check your favorite exchange and see what the real number is.

after all if you know the price before reading the WO its like hearing about the score of the football (ok soccer or whatever ) score before watching the game.

sorry for offending the (american) football vs the rest of the worlds football thing crowd. well, not really heh. not really a fan of either. now, hockey.. yeah, it has dedicated fighters whos only purpose is to to take opposing players out.. now thats a game.
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August 21, 2020, 02:15:12 PM

Setting lowball bids at $9699

Doubt she's going to go that low, but good luck trying to hook that price.

Will be genuinely surprised if we dip below $11k USD/BTC. Kinda hoping the S2F projections pan out as predicted.
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August 21, 2020, 02:17:19 PM
Merited by BobLawblaw (2)

Setting lowball bids at $9699

Doubt she's going to go that low, but good luck trying to hook that price.

Will be genuinely surprised if we dip below $11k USD/BTC. Kinda hoping the S2F projections pan out as predicted.

More than kinda here.
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August 21, 2020, 02:23:38 PM

Setting lowball bids at $9699

Doubt she's going to go that low, but good luck trying to hook that price.

Will be genuinely surprised if we dip below $11k USD/BTC. Kinda hoping the S2F projections pan out as predicted.
There is CME gap at $9600 maybe we'll fill that.
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