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

[BitcoinHodler]

the reason why price dropped is because i needed to buy something with bitcoin worth about $100.
the HODL gods got angry with me and decided to smite the market hard to make me spend more bitcoins


iregardless the altcoin bloodbath is funny to watch today

[Krubster]

I just spent the last of my remaining fiat to buy the dip.
~snip~

Ever since I got into bitcoin (late 2013- as many already have heard a few times), my philosophy and approach has been to attempt to never run out of fiat to be able to buy on dips.  There have been a few times (especially during extensive BTC price dippenings or unexpected dips, such as around January 2015, March 2017, September 2017, November 2018, March 2020, and perhaps a few other times, in which aspects of my philosophy had been put to considerable challenges based on actual facts and BTC price movements).  This is NOT even close to one of those times to one of those times of running out (or low) on fiat.

In fact, this current situation is nearly the exact opposite of halving too much fiat.. (similar to late 2017 run up to $19,666) but in the past couple of years, I have tweaked my system in what seems to be even a better way that I am more psychologically comfortable with where I am at, as compared to late 2017.  For some reason in late 2017, I was more anxious (relatively speaking) to buy every BTC price dip, but currently, I feel less shits than I did at that time, which I believe reflects a higher degree of comfort that I have with my current place.

On the other hand, it seems to me (which is hardly even close to an original thought), that we are not quite close to the "blow off top" level of BTC price appreciation that we were in late 2017 - even though in late 2017, I had not really accepted that we were at a blow off top either, and maybe that was part of the reason for my ongoing urge to buy on relatively small BTC price dippenings.  In that respect, I am kind of wondering if my level of anxiety might increase with greater BTC price appreciation, and if so, how much of a greater BTC price appreciation is going to be required to cause me to start to feel some anxieties regarding where we are at, or even if I start considering that I have too many BTC, perhaps?  Will that be $100k?  $288k?  $500k, $1million?  $1.5million?  or some other BTC price point? (assuming that we might get to some, if not all, of those numbers in this cycle).

By the way, I am starting to consider that outlying tops of this particular cycle could stretch out to as far as late 2022 based on some of the supercycle and related nonsense that is being propagated that could well contribute to a longer dragging out of this particular cycle.. perhaps?  perhaps? and hopefully, I continue to be able to take whatever measures that I need to in order to hardly give any shits regarding how BTC prices perform in the next 6 to 20 months - even including if we all end up getting surprised as fuck and turn into whining little bitches because the top for this cycle ends up being $64,895... 

I'm happy your strategy is working out for you.

My trading strategy is somewhat different. I prefer to stay mostly in BTC. I only keep a small amount of my total stash on any exchange.

Lately, I have been selling just enough to cover my monthly expenses. By doing so, I try to sell at the local monthly high, and if I have any fiat left, I try to rebuy if it dips. This time I can happily admit that I was wrong, I didn't expect us to drop below $60k.

When/if the price starts going parabolic on the log scale, I will most likely revisit my trading strategy.

On the other part, I agree with you that we haven't seen the top yet. I wouldn't be surprised if the price is going sideways or even going down in the short term, before taking off to new heights later this year. We have had 6 monthly candles in the green. Going up forever without any monthly red candle seems unlikely.

[BitcoinHodler]

This time I can happily admit that I was wrong, I didn't expect us to drop below $60k.

don't worry the unexpected dips that come out of nowhere are not that rare for bitcoin. 10% drop of today is among the small ones despite all the FUD campaigns that have been running to try to dump it more.

[El duderino_]

https://twitter.com/documentingbtc/status/1383502343304404995?s=21

Mindrust wouldn’t mind the banning, he ain’t searching it to much anymore I guess

[fillippone]

The reason of the dip https://www.theblockcrypto.com/linked/102007/bitcoin-plunge-7-billion-liquidation?utm_source=cryptopanic&utm_medium=rss

Did anyone bought the dip?

Yes, liquidations amplified the movement, but what caused that in the first place?
I am thinking about a possibility (I posted something on the Italian board, if you want to peek), but I am a poor guy who cannot afford a Glassnode subscription:

[birr]

rumour has it Bob just bought Texas

Not yet. Working on it. I'm fairly certain that between, Elwar, myself, and a bunch of other degens on Twitter, we could probably scrounge up enough BTC to take Texas off the USA's hands...

SECEDE!
Oh wait, they did that 160 years ago...

[bitcoinPsycho]

Got me some dip

[Karartma1]

It looks like mining and such is back to normal. Time to buying the chinese dip again.
happy buying fellas.

[FIFA worldcup]

[rdbase]

It looks like mining and such is back to normal. Time to buying the chinese dip again.
happy buying fellas.

Back to normal?
In what sense: Chinese still banning mining or those who are mining BTC are back to selling their newly minted coins?

This was a surprise to wake up to see the price dip violently down nearly $12k some 6 hours ago.
What the FUD can do on a supposedly peaceful sunday morning while the money markets are sleeping is beyond me sometimes.

[vapourminer]

Poor.

Again.

yeah.

gonna get a 3x5 card and stick it to the monitor.  write "poor" on one side and "rich" on the other. just flip it accordingly. or maybe just randomly.

[vapourminer]

Needs an extra frame with pitchforks and torches $5 wrenches appearing in their hands.

ftfy

well melee weapons (wrenches) from the low ground against someone (likely with ranged weapons) on the high ground in a fortified structure traditionally hasnt gone over so well in history. gives that "i fart in your general direction" vibe.

i picture the battle of Helms Deep from LotR in my head for some reason.

of course im hoping civilization doesnt turn Mad Max so..

[shahzadafzal]

Poor.

Again.

yeah.

gonna get a 3x5 card and stick it to the monitor.  write "poor" on one side and "rich" on the other. just flip it accordingly. or maybe just randomly.

[strawbs]

A dip for big ants.
Oh no, are we poor again?
Nope. Corn is still corn.

#haiku Sunday

[vapourminer]

Poor.

Again.

yeah.

gonna get a 3x5 card and stick it to the monitor.  write "poor" on one side and "rich" on the other. just flip it accordingly. or maybe just randomly.

ouch, just checked the price ~$6k USD drop like overnight. maybe i should just write "poor" on both sides

[vapourminer]

rumour has it Bob just bought Texas

Not yet. Working on it. I'm fairly certain that between, Elwar, myself, and a bunch of other degens on Twitter, we could probably scrounge up enough BTC to take Texas off the USA's hands...

"King Bob!"

https://www.youtube.com/watch?v=TjAg-8qqR3g

[AlcoHoDL]

Guys ('n' gal), its all OK, if you were "fuck you" rich @ $63k, you're still "fuck you" rich @ $55k. And if you weren't, you still aren't.

All is fine. Just HoDL. Works every time.

[shahzadafzal]

Who else having ramen noodles in lunch today?

[ivomm]

$4.86 billion worth of BTC positions got liquidated over the past 12 hours, and $9.12 billion if you look at all markets. That must be a new record.

https://www.bybt.com/LiquidationData

I see now why some nasty bastards offered millions to buy twitter account with many followers. This was a planned attack and the n00b traders fell for it. Of course the news is fake and the market will recover quickly next week. Now the obstacles for a full-blown bull run above 100K are removed. No more high leverage longs, no more weak hands squeezing each pump. The bulls should be preparing now!

[LoyceV]

Guys ('n' gal), its all OK, if you were "fuck you" rich @ $63k, you're still "fuck you" rich @ $55k. And if you weren't, you still aren't.

What if I need @ $150k to be "fuck you" rich? I'm now as poor as I've been in all but 38 days of my life