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

[FIFA worldcup]

[1714253356]

1714253356

[1714253356]

1714253356

[Wekkel]

ETHBTC is still looking to reach 0.034. This Bitcoin pull back has nothing on the market.

[Gyrsur]

Is Bitcoin dead?

EDIT: next support areas are around $37750 and $36500 and $35850.

[lightfoot]

Hm. There is a really nice Lambo Diablo up on Ebay, current bid is 2.5 btc. Granted they want like 9+ btc for it, which is ludicrous. Still it's pretty....

[Biodom]

That's a good summary, but current situation does not fit any of 4.
Basically, today a very strange concoction is highly up: "privacy" coins and strange shitcoins like ETC, obscure bitcoin forks.
Not sure that it means much.

[d_eddie]

That's a good summary, but current situation does not fit any of 4.
Basically, today a very strange concoction is highly up: "privacy" coins and strange shitcoins like ETC.
Not sure that it means much.

I think privacy coins do have legitimate use cases that differentiate them from bitcoin enough to justify some value. That is until privacy sidechains and other L2 solutions implement real privacy on bitcoin too.

Strange shitcoins (including Turing complete duh duh duh ETH, needing an occasional chain reversion because duh duh duh bugs) are quite another league. The shit league.

[Overflask]

Slight crash? What do everyone think? Back to 40k by the end of the week?

[explorer]

  Touchdown!  Just checking in with reality...

[serveria.com]

Slight crash? What do everyone think? Back to 40k by the end of the week?

Up to $50k next week! Move on, nothing to see here... 

[d_eddie]

Just made a degenerate buy at 37.8. The amount was not minuscule, but I'm saving some dry powder just in case she goes much further down soonish - which I doubt.

[explorer]

Is that Maxine Waters with an illegal firearm?

[Biodom]

A few thoughts about the current bitcoin price:

1. With the price at about $40K, bitcoin has to go to $8mil/btc (~160 tril market cap) to replicate the move from roughly $200 in 2015 to about 40K now. This might still happen, but it would probably take several decades and could only happen if at least half of current world wealth would be denominated in bitcoin. M. Saylor has a 15 mil target, which is basically 100% replacement-upper bound.

2. From these numbers it becomes clear that coming right now with a small investment would not mean that you would become super wealthy, or at least not anytime soon, and you need to understand this situation.

3. Having said that, buying about a quarter of btc now ($10k) makes perfect sense as it is more than 89 earthlings combined could have (on average). Invest about $11K and you are in 1% as far as btc is concerned. The $ number would obviously go up in the future. In fiat ($$), you have to have about $5mil to breach the 1% (in US) in wealth, with about $11mil being the median.

4. We are currently observing fiat wealth (hedge funds, family offices, some companies) being thrown into bitcoin, so there is an intense competition to buy. Very wealthy do not need large % gain since they already have wealth and want simply to amplify it.

4. Conclusion: maybe a bit late to make insane gains for a smaller individual investor, but investing as little as $11K in btc at this moment might EVENTUALLY bring you or your family to top 1% in wealth, albeit it would most likely take some time (in my estimation, decades).

[DaRude]

Some dirty rotten whale is dumping Bitcoin and pumping  *******trash.

All those alts mine/hold BTC, that's how they attempt to peg their values to BTC, otherwise they'd have to spend real cash to match BTC inflows. Bitant is a prime example of that, when they published their holdings their BTC balance constantly was going down. Just think how many BTC they could've had if they stopped dumping to keep those shitcoins on life support. looks like btrash hit ATL against BTC 2 days ago, so another round of injections was necessary. But that's a good thing, you don't want them hoarding huge BTC stashes, that's what distribution looks like

[BobLawblaw]

Just made a degenerate buy at 37.8. The amount was not minuscule, but I'm saving some dry powder just in case she goes much further down soonish - which I doubt.

Still have my dip order in @ $37,000, but about to place another dip order @ $37,500 to see if I can't hit that bottom again.
EDIT: Yep. Just guzzled some down @ $37,500. Hit that double-bottom ! See if I stack some more @ $37,000.

[Gyrsur]

Just made a degenerate buy at 37.8. The amount was not minuscule, but I'm saving some dry powder just in case she goes much further down soonish - which I doubt.

Still have my dip order in @ $37,000, but about to place another dip order @ $37,500 to see if I can't hit that bottom again.
EDIT: Yep. Just guzzled some down @ $37,500. Hit that double-bottom ! See if I stack some more @ $37,000.

on Stamp the current bottom is $37194. about what exchange your are talking, Bob?

EDIT: new bottom $37105

[d_eddie]

Placing a "half dip" buy above your "true dip" order is really degenerate. I can't hope to match that...  

[BobLawblaw]

on Stamp the current bottom is $37194. about what exchange your are talking, Bob?
EDIT Bottom broken.

I do all my buys/sells on Gemini.

[cygan]

Just made a degenerate buy at 37.8. The amount was not minuscule, but I'm saving some dry powder just in case she goes much further down soonish - which I doubt.

Still have my dip order in @ $37,000, but about to place another dip order @ $37,500 to see if I can't hit that bottom again.
EDIT: Yep. Just guzzled some down @ $37,500. Hit that double-bottom ! See if I stack some more @ $37,000.

[Gyrsur]

on Stamp the current bottom is $37194. about what exchange your are talking, Bob?
EDIT Bottom broken.

I do all my buys/sells on Gemini.

no issues with low liquidity there so far?

EDIT: I mean with the pockets you usually use? 

[serveria.com]

Buying the dip! Nomm nomm...