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

[ivomm]

https://twitter.com/Coin98Analytics/status/1315853890424717312

[El duderino_]

Lovely afternoon.
Lets see whats there for me, to
double post today. 

[goldkingcoiner]

... how else will you pay your Galactic Federation taxes after the "big reveal"?

Wild guess - we won't. Sounds so ungalactic of them.

... you think there is no driving force behind all these global international One World Order Government moves? ...

Sure there is. Human greed - take a look at the mirror.

the aliens are just working quietly behind the scenes, putting things in place and getting us ready to start paying their dues.

Well, you - of all - would know.
How about liberating humanity from its monetary chains? Instead of more chains something trivial like ... taxes.

And bitcoin is a currency they will accept.

That's strange, I thought they were after monoatomic gold.

edit: Colony

Galactic Federation production?

I forgot what I wanted to post. Was probably going to be a shitpost.

[ivomm]

In connection with the frequent news about companies that reveal their positions in bitcoins, I have the following observations / speculations. Haters on twitter say that these bitcoins are not bought at once and that the price has not risen, so this news is irrelevant. These are the same haters who said 9 months ago that the halving was priced in. Apparently they were wrong, because the price has risen by more than 50% since the beginning of the year. In the same way, they are wrong in their assumptions that these purchases will not affect the price in the future. Here I believe that the following facts are valid.

These are serious companies with great resources and specialists who have obviously come to the conclusion that bitcoin will go up and at some point will decouple from stocks as it was often in the past. This will give the desired insurance and more companies will invest.

Another interesting fact is that in the last 6 months the balance of spot exchanges has decreased by about 500K bitcoins, which is close to the amount owned by some companies listed in my post above. This trend will obviously continue with further purchases.

The real question here is how much we can expect companies to invest in bitcoin over the next 4-5 years. It is clear that not everyone will buy large quantities at once, so 1-2 month bubbles cannot be expected from there. But according to fidelity, the estimated fiat that will be invested is about $1.3 trillion. A simple calculation shows that this amount at the current price would buy more than 100 million bitcoins, which is impossible of course. Therefore, even only the institutions will move the price to at least 100K, which would correspond to 10 million bitcoins - again more than is actually achievable, because there will be more than 8 million bitcoins that are either lost or not sold below 100K.

So definitely this news is very important and we should be happy. And be patient. The decline in bitcoins on spot exchanges is only a sign (but a definite one) of an impending price increase. The real rise can be postponed for several months, at most 2 years, if there are violent manipulations through the derivatives. However, as the pathetic troll proudcon would say, mathematics and science prove that with such an investment the price will become at least 100K in the coming years. And if we add the natural retail growth which will be enough by itself to push the price above 100K, we can expect a peak well above 100K.

#confirmedbymathandscience  

[Phil_S]

50 week SMA reached $9000 for the first time ever.

[Dabs]

When a company or anyone buys bitcoin, either they market buy, or create a wall. If the wall is not visible, it could be an OTC buy, or simply an iceberg.

[dragonvslinux]

Notably rejected by log growth trend-line, time for some consolidation to create a higher low?

It's also more than possible price now decides consolidates sideways and creates a higher low around $10.3-$10.4, given that we have established a (local) higher high.

This is otherwise the level I'm looking at for support, if price fails to turn resistance into support ($10.7-10.9K):



Patience is a virtue. Awaiting a 1-4 candle correction to the downside on the Daily for a higher low.

[WastedLTC]

https://twitter.com/Coin98Analytics/status/1315853890424717312

source is https://bitcointreasuries.org

Pretty sure that is not the correct BTCetc logo...       lol -- had to look that one up.

[Karartma1]

@ivomm
At the end of the day, when looking at all the buying frenzy from publicly traded companies, I think what really matters is the fact that there are less and less available bitcoin on the market. I believe proudhon can confirm that:
Supply Decrease: price increases, quantity decreases

[Torque]

@ivomm
At the end of the day, when looking at all the buying frenzy from publicly traded companies, I think what really matters is the fact that there are less and less available bitcoin on the market. I believe proudhon can confirm that:
Supply Decrease: price increases, quantity decreases

Yes, although the exchanges can still keep a lid on things with increased fractional reserves to offset the reduced float. This only works as long as the market is lifeless with very few deep pocket buyers.

But once an on-market buying frenzy starts, combined with mega short squeezes the FR will only make it worse for the exchanges. Price will be gapping up bigly.

[Paashaas]

Impressive that Grayscale raised $1 billion in Q3.

.....And this is just the beginning: institutional FOMO.

https://www.globenewswire.com/news-release/2020/10/14/2108440/0/en/Grayscale-Investments-Secures-More-Than-1-Billion-in-New-Investments-in-Q3.html

[Elwar]

I have suddenly become super busy but news of the MS Satoshi is exploding.

https://cointelegraph.com/news/cruise-ship-satoshi-to-house-crypto-companies-and-digital-nomads

Our engineer is in Cyprus right now, he says he can see the ship. They should be picking him up in the next couple of hours. 4 COVID tests and 6 days later he made it to Cyprus.

[BobLawblaw]

Gentlemen, etc...

EDIT: lolnope

[vapourminer]

number goes up

me like

[rdbase]

Well..
That was a ride

Weird when you see it jump like a Mofo then it goes back to when you came in to the chart.
Then most disappointing feeling to say the least.

[bitcoinPsycho]

buyers remorse

[BobLawblaw]

Well..
That was a ride

Weird when you see it jump like a Mofo then it goes back to when you came in to the chart.
Then most disappointing feeling to say the least.

[vapourminer]

number goes up

me like

rats

me changed my mind

[philipma1957]

me laughed  . Thank you

[sirazimuth]

Well..
That was a ride

Weird when you see it jump like a Mofo then it goes back to when you came in to the chart.
Then most disappointing feeling to say the least.

Cue the tv meteorologists drawing a penis on the weather map gif...