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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

3. Impact on China🇨🇳

China & Hong Kong have very close ties. Hong Kong's move to permit retail crypto trading might signal similar future laws in mainland China

I do not understand this move. Hong Kong is no longer independent. It is just an island off China. China was so against it, against crypto. And now it is being allowed? I do not get it.

-----

But anyway. Have some of this BTC Stuff.

@HuobiGlobal
: $BTC, $ETH and "other major cryptocurrencies"

•
@gate_io
: $BTC, $ETH, $LTC, $BCH, $DOT, $MATIC, $SOL & $UNI

•
@okx
: $BTC, $ETH, $MATIC, $SOL, $DOT, $UNI, $LINK, $LTC, $AVAX, $ATOM, $XLM

Should be good, right?
 

 Never before seen footage of the "crypto" exchanges opening on June 1st in Hong Kong.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

It looks like we may be seeing the beginnings of a rally based on a deal being reached for the debt ceiling. It seems like it’s going to be business as usual for the money printer soon which means upward pressure on Bitcoin’s market price. I think it’ll take more than this to get us over $30K, but a nice development nevertheless.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[psycodad]

Sounds like a brilliant idea to have an AI control a drone:

"The system started realizing that while they did identify the threat, at times the human operator would tell it not to kill that threat – but it got its points by killing that threat. So what did it do? It killed the operator. It killed the operator, because that person was keeping it from accomplishing its objective."

<snip>

"We trained the system – 'Hey don't kill the operator – that's bad. You're gonna lose points if you do that'. So what does it start doing? It starts destroying the communication tower that the operator uses to communicate with the drone to stop it from killing the target," the colonel added.

-> https://www.theregister.com/2023/06/02/ai_drone_simulation/

I can't help but hear this synthetic voice in my head, saying "I am sorry Dave, I can't let you do that."

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[nlovric]

Does anyone in the WO's community have a lucky number of 9 or 19? 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Stavri]

https://bitcoinnews.com/bitcoin-price-volatility-uk-inflation-problems/

"Inflation in the U.K. remains stubborn, leading to suggestions that the Bank of England will raise interest rates further. Prolonged high rates are expected to cause significant volatility in asset prices, including bitcoin."

Isnt it wrong... Low interest rates drive crazy boom and bust cycles. Lower interest rates are more dangerous for economy and assets including cryptocurrencies.

[HI-TEC99]

[Stavri]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Who is John Galt?]

I do not understand this move. Hong Kong is no longer independent. It is just an island off China. China was so against it, against crypto. And now it is being allowed? I do not get it.

It's not the first time that China has used a formally different jurisdiction of Hong Kong to experiment with something or to do some business ostensibly on behalf of Hong Kong's private banks. Hong Kong for them is like a big sandbox in which they build sand castles, which can then just as easily be destroyed.

[BitcoinBunny]

https://bitcoinnews.com/bitcoin-price-volatility-uk-inflation-problems/

"Inflation in the U.K. remains stubborn, leading to suggestions that the Bank of England will raise interest rates further. Prolonged high rates are expected to cause significant volatility in asset prices, including bitcoin."

Isnt it wrong... Low interest rates drive crazy boom and bust cycles. Lower interest rates are more dangerous for economy and assets including cryptocurrencies.

Both are terrible.

Regardless, the retail banks in the UK are taking no notice of higher interest rates when it comes to offering good products for savers at the moment.
Which means they are in fact nullifying the whole higher interest rate tool by the Bank of England.

Classically from a retail banking pov:
High interest rates: keep your money in the bank, it's a better option, save, spend less.
Low interest rates: Spend everything, there is no return keeping it in the bank.

The top option doesn't work properly if inflation is higher than the interest rate (which it still is in the UK) and it especially doesn't work when retail banking refuses to play ball.

-------

Finally the propaganda media in the UK are accepting that there is at least a problem with house prices.

In my area I've seen 1 house shift in the last year. Usually there would be between 10-20 per year.


Brace for a big old collapse that is going to make 2007-2009 look like a walk in the park.

[nlovric]

U.S. Senate Passes Debt Ceiling Bill

The U.S. House of Representatives and Senate passed a bill to raise the debt ceiling with bipartisan support from Democrats Republicans and independents. The bill is currently awaiting President Joe Biden signature to prevent a possible default and its negative impact on the economy and world markets. The Senate rejected all proposed amendments to ensure a quick resolution and avoid further complications.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[nutildah]

Bybit Exchange Pulls Out Of Canadian Markets Due To Regulatory Shifts

Due to recent regulatory changes Bybit Exchange has announced its decision to cease operations in Canada following in the footsteps of Binance and OKX. Stricter measures by the Canadian government including a pre registration process and a ban on leveraged trading prompted Bybit to suspend its service and ban deposits and new registrations from July 31. Users are advised to close their positions before September 30th. All remaining positions will be liquidated for withdrawal of funds.

@JayJuanGee why do you keep meriting this trash? You're just encouraging spammers to mindlessly shit in here. Some of them, like this one, buy old Bitcointalk accounts then come here for your easy merits.

This account nlovric belonged to an extraordinarily intelligent individual, now it belongs to a merit farmer. You keep meriting him, he keeps coming back for more. You're teaching him that spamming pays.

I wonder if merits could simply be turned off for the WO thread. I would rather see 10 ChartBuddy posts in a row than these sad solicitations for charity.

[Stavri]

https://bitcoinnews.com/bitcoin-price-volatility-uk-inflation-problems/

"Inflation in the U.K. remains stubborn, leading to suggestions that the Bank of England will raise interest rates further. Prolonged high rates are expected to cause significant volatility in asset prices, including bitcoin."

Isnt it wrong... Low interest rates drive crazy boom and bust cycles. Lower interest rates are more dangerous for economy and assets including cryptocurrencies.

Both are terrible.

Regardless, the retail banks in the UK are taking no notice of higher interest rates when it comes to offering good products for savers at the moment.
Which means they are in fact nullifying the whole higher interest rate tool by the Bank of England.

Classically from a retail banking pov:
High interest rates: keep your money in the bank, it's a better option, save, spend less.
Low interest rates: Spend everything, there is no return keeping it in the bank.

The top option doesn't work properly if inflation is higher than the interest rate (which it still is in the UK) and it especially doesn't work when retail banking refuses to play ball.

-------

Finally the propaganda media in the UK are accepting that there is at least a problem with house prices.

In my area I've seen 1 house shift in the last year. Usually there would be between 10-20 per year.


Brace for a big old collapse that is going to make 2007-2009 look like a walk in the park.

im considering the country i live (which is about to bankrupt) when i was posting it. . as the president here insist in reducing the interest rates tellin "lower interest rates for mean increased production" but it gets worse and worse. 80% inflation. (its official inflation. meat, milk products etc are already three times more expensive comparing to 1 year ago).