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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26406378 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
bitserve
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February 01, 2023, 09:20:54 PM
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Bisq Market Day - March 20th 2023


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February 01, 2023, 09:44:05 PM

JUST IN: 🇺🇸 $1.8 billion Burling Bank to become the first FDIC-insured chartered retail bank to offer #Bitcoin    buying, custody and rewards 🙌

https://twitter.com/BitcoinMagazine/status/1620833041622142976?t=7jFgqgTNYgL21TnsZnpCrA&s=19
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February 01, 2023, 10:01:18 PM


Explanation
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February 01, 2023, 10:27:57 PM
Last edit: February 01, 2023, 10:42:58 PM by BobLawblaw
Merited by xhomerx10 (1), Hueristic (1), JayJuanGee (1)

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Uh, bummer? I guess?

xhomerx10
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February 01, 2023, 10:52:47 PM

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Uh, bummer? I guess?



 That brought back some bad memories.
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February 01, 2023, 11:01:18 PM


Explanation
Biodom
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February 01, 2023, 11:23:02 PM

@jjg..well, $19,798 is pretty much 20K in my book (according to rounding rules), but it is a minor point....that you seem to be awfully sensitive about.

BTW, the average price of btc between Dec 2017 and today is also quite surprising (not!) $20.3K...how does this reflect on DCA vs bulk purchase debate?
Basically, you could have DCAed weekly since 5 years ago (or 260 weeks) and your average would have been more than btc price just a month ago (only 4wk or 1.5% of the putative DCA time).
This shows, in my opinion, that better strategy in bitcoin is to have a large stash of cash and to wait for more than 60-70% decline from the recent ATH, then pounce at once or in a few big "gulps".
Rounding rules? that is not how it works in economics. Either something has hit $20000 or it has not. You cannot round up values rounding up is only done to estimate something but is not used for speculation because it would skew the numbers to much and any speculation or prediction based on rounding up will be greatly wrong even if they have a good argument. Do not round up unless you are estimating small numbers when it is big numbers like 20000 you will be greatly out of any prediction or analysis.

economics? 19798 vs 20000 is about 1.1% difference, so, if you don't perform many additional calculations, approximation is fine.
For example, my thesis was that "If in about 5 years (early 2028) bitcoin is 25.5k (now it is 23k vs 20K in Dec 2017, so a similar small rise with lots of down and up volatility in between), would you be content?"

if you replace 20K by 19798, then the appreciation since Dec 2017 until 23K (which was the price at the time of original post) would be 16.17% vs 15% in my calculation.
Perhaps, i should have wrote $26.7K instead of 25.5K in 2028, but it is still within 5%.
The main point was not the exact number , but how we would perceive the situation if it repeats itself in the next 5 years.
BTW, bitcoin price is not an absolute and it did hit 20K and slightly above on some major exchanges.
@jjg thinks that we somehow made an explicit promise to only quote bitstamp, but I don't acknowledge it (no promise on my part).

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February 01, 2023, 11:30:51 PM

@jjg..sorry, I am too "beat up" at work this week to post numbers, will try to sum it up sometime during the weekend and/or on Fri...
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February 01, 2023, 11:51:26 PM

@jjg..sorry, I am too "beat up" at work this week to post numbers, will try to sum it up sometime during the weekend and/or on Fri...

Yeah well I am prepped for 10 years of sideways motion.

Check what gold did from 1992 to 2001

no reason btc can't do exactly that.

20k-35k for 10 years in a row is certainly one possibility.
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February 02, 2023, 12:01:23 AM


Explanation
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what is this "brake pedal" you speak of?


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February 02, 2023, 12:10:06 AM
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20k-35k for 10 years in a row is certainly one possibility.

thanks for killing my buzz man
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February 02, 2023, 12:42:33 AM

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February 02, 2023, 12:57:09 AM

^^^first try..."Buy by the barrel gorilla ladders?"  Grin  Cheesy

second "ape into bitcoin ladder by the barrel"
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February 02, 2023, 12:59:23 AM



Bitcoin price up $24165.
Ascending upwards like a ladder.
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February 02, 2023, 01:00:59 AM
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It certainly looks like $24,000 will be broken tonight.  Cool


[...]

Whatever, HODLERS not affected.

Exactly!
Would be huge if we recover to 25000 so soon after breaking into the new year it could really set up the year and we could seriously start talking about a full recovery by the mid or end of the year. Some good news for once.
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February 02, 2023, 01:01:17 AM


Explanation
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February 02, 2023, 01:09:52 AM

#Bitcoin    is a journey.



https://twitter.com/TheBTCTherapist/status/1620860073735258114?t=mjdqH0t0q_0cCWOQKz4x-Q&s=19
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February 02, 2023, 02:00:06 AM

my dca log

X equals fiat units.

BTC dca
nov 04 >>>>>>>   01x
nov 11  >>>>>>>  02x
nov 18  >>>>>>    03x
nov 25 >>>>>>     04x
dec 02 >>>>>>     05x
dec 09 >>>>>>     06x
dec 16 >>>>>>     07x
dec 23  >>>>>      08x
dec 30 >>>>>>     09x
jan 06  >>>>>>     10x
jan 13  >>>>>>      11x
jan 20  >>>>>>      12x ended my Friday 1x fiat dca

Jan 25 >>>>>>      14x began my 2x weds fiat dca
Feb 01 >>>>>>       16x

From my perspective, it almost looks like someone chasing a train and acting like everything is "fine"..

hahahahahahaha

It is starting to look like the market might need some fresh air here if you're looking at a far enough away chart.  I think it's likely in the short term we see a drop and a serious retest of how low the market is willing to go.  Then maybe we'll be able to break free of this resistance and head up to $30,000 in a flash.  Until that happens, I think $10K is still on the table, as far fetched as it might feel at the moment.  A rejection here back down to the $16K range would look pretty devastating on a chart, so I'm crossing my fingers we don't correct very far.

Yes.. What else is new?  It's called pee pare ur lil selfie for either direction, we are not out of the woods yet... even though it's feeling good at the moment... no meaningful correction since $17k.. and I am sure there are several beartard betters getting nervous because they keep betting for DOWNity that doesn't happen, and they expect to be able to buy on the dip. and the dips are not happening. 

The same is try for all the supposed bulls who had sold BTC in order to buy back lower, and so they may have likely converted to a "buy on the dip" approach, but the price never seems to dip enough to trigger the buys that they should have been already been doing when we had so much time under $20k and they failed refused to buy.. and now those sub $20k prices are looking pretty fucking good...   Yeah.. you should have prepared a wee bit MOAR better for UP, and even though your preparation for DOWNity had been working so great for the past 6 months or whatever, it doesn't seem to be working so well in these times. We should always know that we should be sufficiently/adequately prepared for UP because UP can end up happening in such a way that does not really give any more chances to buy at the earlier low prices, even though there are lot's of normies saying, "anything that goes up must come down... blah blah blah"... seen it a million times in bitcoinlandia, and seen a lot of bitter no coiners develop from their failure/refusal to sufficiently/adequately pee pare their lil selfies for UP..

if they drift under 6% maybe we go flat for March fed rate

Maybe we go flat and maybe we don't?  Doesn't mean that our lil fiend is going to cooperate, does it?  Hopefully peeps are not putting too much weight into whatever desperate governments are doing in terms of their own preparations that include sufficient and adequate quantities of BTC that does not cause them to have to chase the BTC train at some date in which they should have bought more BTC at earlier times, and perhaps they should not have sold BTC with an expectation to buy back lower that may or may not happen.

We are just getting back to the 200-week moving average.. but sure, we are still below it.. so what does that  mean? 

Seems to mean that we are still quite low in our BTC prices, even though we have various desperate government actors (and financial institutions) that would prefer to keep this bad boy down.. which sure they might be able to do it, but I would not bet too much on those kinds of downity or flat circumstances when it comes to king daddy..
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February 02, 2023, 02:01:17 AM


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February 02, 2023, 02:24:55 AM

The Bitcoin market continues to show a great deal of strength. Just when it looked like it needed to take a breather and test some support, it starts to rally and jumps up another thousand per BTC. It seems like there is still a great deal of demand for coins and it’s anybody’s guess how long that’s going to last. It is nice to be moving away from $16K though.
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