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

[Lucius]

We aren’t due to hit $20k in 2020.  If we do, we are ahead of schedule.  Next year more likely.

Personally, I expected a max of $15 000 by the end of this year which would be a 100% increase from the price that was at the time of halving (2016 having - end year was also 100% increase), but now I see that this may be wrong given that this bull run is not caused only by small investors, but by big players who buy tens of thousands of BTC at once, and now we have a situation where the market swallows more than miners mine.

Some say that $15k was the last serious point of resistance and that the road to $20k is open - I just wonder if the pandemic can surprise us again, what are the chances for a new collapse of the oil and stock markets?

[Paashaas]

This is huge.

Square is selling double the Bitcoin that is made.

...and now Paypal is doing the same.

Paypal is almost 3X Square. We already know Grayscale is consuming a similar magnitude.

This is a Bitcoin supply crisis. 

Base case: expect huge price moves from Bitcoin.

https://twitter.com/caprioleio/status/1324665302584623104

[LFC_Bitcoin]

HairyMaclairy returns!

Bullish....

WB, my friend.

[Phil_S]

You are a respected person with good reputation, please don't take my comment personally. But this cruise ship story sounds so unbelievable, it makes my scam detector go wild.

anyway, great stuff. good luck!

The story is perfectly fine.

First of all, the ship about 30 years old: https://en.wikipedia.org/wiki/Satoshi_(ship)

Following delivery, Regal Princess sailed to New York City where she was officially named by the former UK Prime Minister Margaret Thatcher on 8 August 1991.

Second, cruiseship industry is in deep trouble, they are selling ships at scrap metal prices.

The only big question is: can they make a profit with it.

[ivomm]

[Paashaas]

Bitcoin now ranked 9 passing Russian Ruble for the first time. Should be #6 next year and top 5 in 2025. Number 1 in 2029.

[El duderino_]

On the airport.... Time to let of some steam in a better temperature as in Belgium

Meanwhile BTC, stay on track, love it....

[El duderino_]

https://twitter.com/CryptCoinPoodle/status/1324716984601333761?s=20

[philipma1957]

Denmark to cull entire mink herd amid mutation fears for coronavirus vaccine.

Denmark will cull its entire herd of up to 17 million mink after a mutation of the coronavirus found in the animals spread to humans, posing risk to any possible future vaccine, the prime minister said on Wednesday.

Outbreaks at mink farms have persisted in the Nordic country, the world's largest producer of mink skins, despite repeated efforts to cull infected herds since June.

Health authorities found virus strains in humans and in mink which showed decreased sensitivity against antibodies, potentially lowering the efficacy of future vaccines, Prime Minister Mette Frederiksen said at a press conference.

"The mutated virus in mink may pose a risk to the effectiveness of a future vaccine,"

If we fail containing this mutated virus than all the vaccine's created today will all be fruitless and the whole circus starts all over again. I'm not a doomsday guy i'm a realist, this is what it is, starting to get deeply worried that our lifes might not be normal for time to come.

Global cases rises to over 600,000 with deaths at record level.

Shitholes like the U.S breaking records after records.

Pretty cool you get to say that and fairly correct.

[El duderino_]

Best TA ever .... Straight out of my personal, small little handbook

Cheers

[Phil_S]

Nursing home entrance right after than FINISH line, tho.

[Last of the V8s]

[Toxic2040]

This is one of those pinch me if I'm awake moments. After so much suffering throughout the last 3 years, the price hit $16K during the night. Currently it is stabilizing around $15.6K, which is better than going straight to $17K. On a more personal layer, I've contemplated for a year about a similar scenario. Don't judge me, but I've sold 1.6% of my stash for the first time after the 2017 crash.

The reasons are multiple. First, I'd drained both my credit cards to buy in $3K area in 2018. Second, I'd took a loan to buy in March increasing my stash by 5%. I was too confident that $7K was a good price and the covid pandemic wouldn't affect the price. Hours later the price fell below $4K. So I basically was in mindrust's situation. But I decided to wait to see what will happen in 1 year. Now I have >3x profit from my loans.

I look upon this more like a variation of a long position with borrowed funds from the bank, but a hodler style. I'm not a trader, and never will be. In the mean time several devices went almost out of order and wait in line for a replacement - my phone, tablet, washing machine and tv. There are always expenses for the car as well. So my decision is completely justified and I am feeling good about it. This is a small reward for all the nerves and stress for both me and my father. Now he is shocked in a good way that all my predictions for the price shooting upward were correct. And he is congratulating me for the nerves and cold blooded hodling.

And finally, currently the fiat equivalent is more than enough for the main goal which I put to myself in 2017. In terms of fiat the difference is more than 5x. What will happen in 2021 is another story. I expect some remarkable highs which will tempt me to cash out and quit my job. Hopefully, I will keep most of my stash and sell only what I really need. I really love my job, but sometimes it is ridiculous to dress up, drive to work, check the price and see that during the drive I've earned the equivalent of my salary for many years of work. Not a great stimulus for work, but I don't complain

+1 WOsMerit

------

We aren’t due to hit $20k in 2020.  If we do, we are ahead of schedule.  Next year more likely.

+1 WOsMerit


Well hello there Mr McClairy.    Nice to see you stop by..I do hope all is well for you and yours m8. 

Steady as she goes.


-------

+1 WOsMerit

lol'd



-------

some morning charts


#dyor


1h


4h

#stronghands

[Torque]

This is huge.

Square is selling double the Bitcoin that is made.

...and now Paypal is doing the same.

Paypal is almost 3X Square. We already know Grayscale is consuming a similar magnitude.

This is a Bitcoin supply crisis. 

Base case: expect huge price moves from Bitcoin.

https://twitter.com/caprioleio/status/1324665302584623104

Good observation. Also fractional reserve being called out on the market by big money will create huge price jumps.

[philipma1957]

Don't judge me, but I've sold 1.6% of my stash for the first time after the 2017 crash.

Nothing's wrong with that.

agreed.

next step for him is to sell:

 1.5% at 21k+
 1.4% at 28k+

[JimboToronto]

Good morning Bitcoinand.

I see we're still above $15.5k, consolidating after yesterday's delightful gains... currently $15504USD/$20255CAD (Bitcoinaverage).

Passing $20kCAD is a pleasantly satisfying in a way.

A little bit of a breather here wouldn't do any harm. Its a little early to go exponential. Save that for next year.

I'll be happy to be near the ATH by year's end. Slow and steady.

Go Bitcoin go.

I love making money while sleeping, it doesn’t get any better than this.

One of the few things on which I can agree with Warren Buffett:



Isn't hodling fun?

[Lucius]

Source

Great billboard

[JayJuanGee]

Expect military trucks to drive into the justice department shortly before Trump leaves office.

Expect Trump to walk away a very rich man.

The strangest prediction.

I have a better one:
1. with Senate ostensibly remaining republican (most likely) and Supreme court decidedly conservative, republican "masses" won't care too much and WS is ecstatic (no new taxes, etc.).
2. Trump might try a comeback in 2024. It worked out for Grover Cleveland, so there is a precedent.

Trump is no whipper snapper, so he may well be dead, or near dead in 2024... but would not put it past him to attempt some drama, even in his more elderly years... absent the various criminal charges that he is likely going to have to battle in the coming years because I doubt that democrats - or even regular peeps are going to be tolerant of the various ways that he abused his power in terms of financials and other eccentricities that go beyond the pale of the regular corrupt politicians in the USA.  There may be some allowance to sweep his extremes under the rug - but really would likely not be in the best interest of the country to allow him to get away with his various narcisistic and likely non-productive self-dealings and reckless with the public finances interminglings.

[FullNode]

https://i.imgur.com/WYCRVA7.jpg

[JayJuanGee]

@Toxic: what's in the box?

pain...for fiat hodlers

#dyor

Volume is not the as in the past but i think we dont need lot of volume as longs as there is FOMO  

I have been kind of wonder too, if there may have been some movement of BTC price discovery from exchanges to OTC type avenues, especially if we have BIG institutions such as Square and Grayscale sucking up a lot of the coin supply.  From where are they getting their coins.  

I believe that Saylor had admitted getting a decent amount of his coins from various exchanges, but he did not really detail with any precision his sources of his BTC and/or exactly his methodology - even though he disclosed that he (likely involving some agents) had made 10s of thousands of BTC buying transactions over a relatively short period of time prior to October of this year..

Actually not even sure about when he started acquiring coins, exactly, but based on his purchase price disclosures and some other of the details that he disclosed, it seems to be that he likely had some somewhat clustered purchasing activities of BTC at least three times in the months of July (his own stash) August (his first acquisition of MSTR coins), September (his second acquisition of MSTR coins).

In any event, changes in on-exchange trade volume might not always give great indications regarding ongoing measure of sentiment, which seems to be part of what you are suggesting, hossamdz.

Almost 2k up in one day, did we ever had that?

Yes, 2019  26 June

October 25, 2019 we had nearly $3k in less than 24 hours from $7,400 to $10,300.  I used to remember (seemingly incorrectly) that we had accomplished that BTC price move in a bit over 12 hours, but when go back and look at the one minute charts it seems that my memory is not what the historical charts are showing.

See this link to play around with the timeline:

https://bitcoincharts.com/charts/bitstampUSD#rg60zig1-minzczsg2019-10-25zeg2019-10-26ztgMzm1g10zm2g25zv



By the way, as many of you more astute Wall Observers may recall, we shot up from $7,400 to $10,300 in less than 24 hours  on October 25, but then we trickled back down to $7,400 and even below $7,400 in the next month.. and then had a kind of mini-bear (feeling at the time) BTC consolidation in the upper $6ks/lower $7ks for a bit more than a month before entering into a beginning of 2020 mini-rally for a bit over a month.. to peak above $10k again before experiencing our movement into our March 12 rapid crash.  

Almost 2k up in one day, did we ever had that?

Yes, 2019  26 June

Once almost 3K not?

Yes... see above.