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

[JayJuanGee]

red market.
broken charts.

I don't see sexy women here  
all pictures are just bearded men

Oh, sounds like Bob brought the christmas cards again?  

On topic:
Don't call me bearish but that doesn't look like up to me.
The 10-12 months-after-ATH fact is interesting, i intuitively (as good as) expect EOY bottom (or do i only wish for?)...

Started to lurk on offers of the used astronomy gear market. It may not age well.

Yes.. not too easy to frame our current location as UP.. except zooming way out.. and there might not be a lot of solace in that... especially if we might be trying to figure out what are the odds that our current local low is going to get broken (that's the $17,593 number), and it's not easy to rest with any assurances given how close we got to it within the past less than 24 hours with a local low of $18,271 (that's only in the ballpark of 4% distance), and yeah we had a bit of a bounce back up to $19,200-$19,679 - which got us to nearly 12% distance from the $17,593 local bottom.. but hard to have any strong feelings of confidence - even with ongoing unresolved matters with various macro-factors.

Speaking of boats, lets turn this ship around ChartBuddy old pal!  Up would be nice.

Yes...

Haven't we suffered enough?  Yet?

Mostly, we have been below the 200-week moving average for more than 3 months.. and then we got the below the 100-week moving average party going for more than 4 months... so getting back between the 100-week and the 200-week moving average would be more than depressing enough... why rub it in more?

What did "my lil precious" do to you?

Let us return back to a little bit of a less depressing status.. sure it will be depressing, but not this depressing.  Haven't you shaken out enough weak hand?  How many more weak hands are left to shake out?

[1680183671]

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[1680183671]

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[Gachapin]

Well, As a Bitcoiner. I would always recommend Bitcoin.
But, I didn't hate ETH, to be honest. Because it was 2nd coin on the top 10 list and it has PoW at least.
Now, I would recommend everyone not to trust ETH anymore.

Proof of Stake made it centralized and the blockchain vulnerable. Two major Stakeholders control 47% of ETH. Meanwhile, Gas fees, Network congestion and speed remain the same. So, What was the purpose of ETH 2.0? Fuck Vitalik.

It has a similar purpose as it always had whether it was POW or POS.. it did not matter.  Its purpose was to allow it facilitate the pumping of a variety of scams, including pumping itself to appear that there was something there when there was not.  That piece of shit is not dead, and it is still going to get pumped and convoluted into presenting itself as if it were something that has value and potential.  

Likely for the past 6-7 years many of us participating in this thread have been thinking that Ethereum could have a rapid death at any moment, and people don't really believe that nonsense do they?  But alas.. people continue to believe that nonsense and continue to pump money into a thing that has been a convoluted mess from the start and continues to be some variation of the convoluted mess that it always has been, but still people continue to buy it... so how would any of us here know how long such ongoing smoke and mirror card house can keep going?  maybe another 10-30 years? perhaps?

Less than 2 years and they will be dead.

V.B. has made a lot of enemies. 23-25 million a day income and liquid income at that was killed off by his insane idea of c=going pos.

His staked income 'created' which is frozen is 2 million a day.

that is a 21 to 23 million dollar net loss every day not to mention the bigger number was liquid and churned through all levels of the economy .

ie
miners
.....
exchanges
all got to churn that 23-25 million every day a new 23-25 million

all gone poof

and 2 million every day now comes to frozen accounts for over the next 6-18 months.

V.B. will be lucky to stay out of jail over the next year or 2.

I wouldn't bet on that.  
It could well stop being no. 2.  But die..?

Look how long that cRipple dumpsterfire is burning.
It's fully premined, totally in the hands of a few and absolutely centralized. more or less a private database.  
And if cRipple can win their court case against the SEC that Russian Junkie might not have to fear too much... 

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

Explanation

[nutildah]

can't have 4 buddy posts in a row

calm down buddy, you're getting too excited

no consecutive posts... its a forum rule. makes it seem like you're trying to railroad the discussion

[ChartBuddy]

Explanation

[ChartBuddy]

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[Ami0]

Bitcoin price action be like

[Asiska02]

When trying to inform a bitcoin enthusiast of the Ethereum merger

[shahzadafzal]

Watch for the colors... eat it before it gets too hot!!

https://twitter.com/AltcoinDailyio/status/1571988903065956352/photo/1

[ChartBuddy]

Explanation

[Hamich124D]

Is the august inflation report dropping tomorrow ? any speculation on how it will impact the price ?

[BitcoinBunny]

[wmaurik]

Is the august inflation report dropping tomorrow ? any speculation on how it will impact the price ?

About the decline in inflation that is happening, I don't really know in detail, but you can understand it more deeply if you are an expert in analyzing inflation.
Here is some information that I found on the investing.com website which might be of great help to you in finding the answer to your question. But if that can't help you to find the answer exactly, then sorry that we have to find out together about this now.

 

[ChartBuddy]

Explanation

[xzy887]

Everyone is panicking about Bitcoin right now. Because some people say Bitcoin is dead. I think we should gain knowledge about Bitcoin without listening to their rumours. Because this is not the first news that Bitcoin is dead. Bitcoin has been declared "dead" over 461 times.  

What is your opinion about this?

[ivomm]

Some wall related observation (sorry for being offtopic  ): In a day like this if someone wants the price to drop by 10%, he needs to market sell around 370BTC on Bitsmamp. The bots on all other exchanges will follow immediately and we will never know from where this started. I'm not sure whether the bots follow Gemini, but in that case it would be even easier. Currently 370BTC=$7.4mil. So one needs only $7.4mil to crash the market by 10% and provided he has put $10mil in 100x short positions, this will make a huge profit. I'm not an expert and may be mistaken, but I estimate that the profit would be around 100mil, which of course compensated the $0.7mil loss from the sell.

This is just a simplified example. In reality this process is more complicated and obfuscated in order to delude the exchange owners and regulators. But still, there are more than one Wall Street institutions specialized at such manipulations. And there are also the corrupt exchange owners (e.g. Bitmex) and individual players with that kind of money. I don't follow all exchanges and CME futures, but only on Binance the shorters that cashed out the profits at -10% had a volume > $1bil. And the sharp increase in the previous week suggests that the same amount was bought with the intention to sell it soon.

This is only a speculation, but the probability of some kind of manipulation going on recently is quite high. I can't imagine what the price would've been if there were no manipulations, but 50K would have been the bottom IMO. So, we need patience. Sooner or later these malicious players will be elliminated. Either the spot traders won't follow the crash at some point due to their financial exhaustion (a.k.a bear trap) or SEC will bust them.

May be this is the cancer:

Alameda's bitcoin-denominated loans from Voyager coincide with every major dump in the last few months.



https://twitter.com/FatManTerra/status/1572109451464773633

[shahzadafzal]

OT:

Any one hungry?


https://chazzchips.com/en/putes-skonio-traskuciai

[ChartBuddy]

Explanation