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

[Gachapin]

Very very 180 degree opinion as a few weeks back

Liking this way more

Today the highest temperature recorded in my country is 41.5 degree. A very high temperature makes it very difficult for everyone to fast.

If anyone forces you to fast, better stay away from these psychopaths.

And if you think you must fast (no drinking at 41°), better check if you haven't been brainwashed since you were young.


There are many toxic ideologies out there that wanna have power over you...  better be cautious...

while fasting itself is not bad at all: https://ultrahuman.com/blog/autophagy-underrated-cellular-detox-you-should-know-about/

Absolutely.  I'm doing intermittent fasting myself (only eat once in a day).  
But not drinking at 41°C has definitely nothing to do with healthy fasting.

[ChartBuddy]

Explanation

[OROBTC]

It seems that for now the feds have succeeded in convincing people that the money in their US banks is safe and prevented a massive bank run. But this may only be apparent, and the truth is that this process continues and will intensify with time. So I expect that after a certain time, new banks will go bankrupt and again the shares of the banks will become 0, because for no coverage. Ironic, isn't it? How many fat-necked bankers  ranted against Bitcoin that it had no cover and was going to 0. Lo and behold, their stocks went to 0, and Bitcoin thrived in a bear cycle, peeling away from stocks in an emphatic way.

Nothing can now save the banks and the USD from another historic collapse, accompanied by a severe economic crisis and high inflation. At the same time, there are no more crooks like FTX to print paper bitcoins and thwart the natural deflationary process. So we'll probably see a price above 40K soon, and it's entirely possible that by the end of the year we'll approach or surpass ATH. It depends on whether the deluded fools who still trust the banks and the government will continue to keep their money there. Anyone with at least a little brain should immediately withdraw their money from the small banks and put it in the big ones with a guaranteed deposit, with a significant part invested in bitcoins. I believe that this process has already started, but it is still under the surface, hidden by the banks, who are trying their best to prevent Bitcoin adoption. But they don't know how to do it because there's no way they can hit bitcoin exchanges and banks without collapsing their own economy and that boosting bitcoin even more. And accordingly they will not succeed.

Very very 180 degree opinion as a few weeks back

Liking this way more

Two good observations.  Seems that the 3% or so dip to $29,350 may be a gift (just read that BTC may lose 12% more though).  <== That's why we're here at W.O.  Who knows?

[ChartBuddy]

Explanation

[Biodom]

An explanation for today's move:
Schwab came out with earnings and they "only" lost 30% of their deposits in the last 12 mo, which is already reflected in their price...so, no Armageddon yet.
That said, the Rube Goldberg machine of the financial sector always seems to find some balance, which is amazing.
On the other hand, State Street lost 10-11% today, so something is still brewing.

Since bitcoin gained quite a bit on bank's troubles, it is logical for it to lose a bit once those "troubles" are deemed (rightly or wrongly) as "diminished".

[ChartBuddy]

Explanation

[Torque]

Since bitcoin gained quite a bit on bank's troubles, it is logical for it to lose a bit once those "troubles" are deemed (rightly or wrongly) as "diminished".

If the Fed ever pivots on rate hikes, you can be absolutely, positively sure that banks' troubles will (in the short term) be resolved on the surface.

Because nothing resolves a bank's short term problems more than more cheap debt to lend out and more liquidity.

Bitcoin may temporarily pull back because of lowered rates, but it'll soon continue it's upward trajectory because (at least for now) Wall Street treats it as just another equity to be exploited. And all equities gain when debt is cheap.

[BitcoinGirl.Club]

Bitcoin is going to downhill again, get as much as you want 😂

Good evening WO.
Observing @ $29,550

[ChartBuddy]

Explanation

[Gachapin]

SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency
https://www.sec.gov/news/press-release/2023-78

https://www.reuters.com/world/us/us-sec-charges-bittrex-with-operating-an-unregistered-securities-exchange-2023-04-17/



Who is next....?

If they go against all digital (unregistered) securities sellers, shitcoiners will have a very hard time over the next years

[puloweh555]

NEW - Michael Saylor & MicroStrategy converted all employee email addresses to #Bitcoin Lightning addresses 🙌



source

[ChartBuddy]

Explanation

[HI-TEC99]

SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency
https://www.sec.gov/news/press-release/2023-78

https://www.reuters.com/world/us/us-sec-charges-bittrex-with-operating-an-unregistered-securities-exchange-2023-04-17/



Who is next....?

If they go against all digital (unregistered) securities sellers, shitcoiners will have a very hard time over the next years

[goldkingcoiner]

SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency
https://www.sec.gov/news/press-release/2023-78

https://www.reuters.com/world/us/us-sec-charges-bittrex-with-operating-an-unregistered-securities-exchange-2023-04-17/



Who is next....?

If they go against all digital (unregistered) securities sellers, shitcoiners will have a very hard time over the next years

Sure, that is the reason why shitcoiners are doomed to a very hard time... Things were going so swimmingly for them before this

[ChartBuddy]

Explanation

[Gachapin]

SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency
https://www.sec.gov/news/press-release/2023-78

https://www.reuters.com/world/us/us-sec-charges-bittrex-with-operating-an-unregistered-securities-exchange-2023-04-17/



Who is next....?

If they go against all digital (unregistered) securities sellers, shitcoiners will have a very hard time over the next years

Sure, that is the reason why shitcoiners are doomed to a very hard time... Things were going so swimmingly for them before this

You can take it two ways. Many were undoubtedly burned hard, even lost their life savings, while others made fortunes.


Many shitcoiners seem too naive to see what's coming.  The smart* ones will probably abandon ship soon.  Maybe with an exit pump..
But I wouldn't be surprised either if there won't be any nExT ALtSeAsoN that half of twitter is waiting for...



*smart and shitcoiner actually seems mutually exclusive. even rich guys like Novogratz are definitely not the sharpest

[johnsaributua]

~snip~

Maybe one of the crypto currencies is sir, with all the polemic. But I focus on the picture.but more than amazing art. If this is proof of a trade who is carving his empty time. That's fun ... Branding

[d_eddie]

But not drinking at 41°C has definitely nothing to do with healthy fasting.

No mainstream religion has much to do with health anyway. Islam is one of the nastiest for health. Ask all the people killed or maimed in Iran about their health.

[ChartBuddy]

Explanation

[Biodom]

I don't support his views in general, but here is an interesting opinion from Albert Edwards (the article is the opinion about his opinion piece[which is behind the paywall]):

https://fortune.com/2023/04/05/end-of-capitalism-inflation-greedflation-societe-generale-corporate-profits/

Some nuggets:
"something seems to have broken with capitalism"..in his opinion (and he referenced an academic paper) due to "...that corporations engaged in “price gouging” during the pandemic".
He has some data points to point in that direction: "To his point, a January study from the Federal Reserve Bank of Kansas City found that “markup growth”—the increase in the ratio between the price a firm charges and its cost of production—was a far more important factor driving inflation in 2021 than it has been throughout economic history."  

AE argues for price controls...puleeze, but if price gouging is true, then what to do?
He predicts that price controls would be an easy way out for governments when the middle class, angry by the decimation of their living standards (due to inflation), turns against them.

SEC seems to be clearing out the field for the big boys (NASDAQ, NYSE) to pounce, probably. There is another possibility, of course, but i don't want to seriously consider it.