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

[Bitcoin_people]

I’m not sure many understand
+
BlackRock
Fidelity
Ark
Invesco
Etc. All have to buy physical bitcoinBTC to back up their ETF.
This will need to be done soon to have their fund qualify
Can you all not see the urgency or am I completely demented… WHERE IS THE URGENCY???

https://twitter.com/DWOLFBTC/status/1674255252449812480?t=hol80RbqVU-f3cmufsXakg&s=19

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xhomerx10]

31k and all is well!

 ...and in other news



 Okay, I need to go to bed.  Take it away ChartBuddy!

[Biodom]

I’m not sure many understand
+
BlackRock
Fidelity
Ark
Invesco
Etc. All have to buy physical bitcoinBTC to back up their ETF.
This will need to be done soon to have their fund qualify
Can you all not see the urgency or am I completely demented… WHERE IS THE URGENCY???

https://twitter.com/DWOLFBTC/status/1674255252449812480?t=hol80RbqVU-f3cmufsXakg&s=19

There is no urgency on their behalf as they will buy bitcoin as investors would buy shares in ETF.
Of course, they probably need to buy relatively small initial position to kick-start the fund.
Analogy with GLD (gold ETF): the price of gold slowly rose from $250 (from the lows in 2000) to $400 by 2004.
GLD started in around mid November 2004 and then was more or less flat until late Aug 2005 (about 9-9.5 mo) and then went essentially in exponential fashion (with correction in 2008) until Aug 2011 (4X appreciation or 22% per year average for 7 years). Bitcoin's bull numbers are typically much higher, but last shorter time period, but i would not be surprised by a 5-10X rise just on ETF alone (maybe taking half of the time or about 3-4 years). After that, similarly to GLD, an equally long consolidation process (3-4 years), maybe down to 100-150K. Somewhere during those 3-4 years of bull following with 3-4 years of 'secular" bear, halvings would start to have less effect

TL;DR next long term peak is maybe in 3-4 years at $150-300K value from ETF alone plus 140-180K value from the halving "squezze"=290-450K in what could be probably called a "supercycle", then a long term bear down to 100-150K, then a reversal to ATH in some time (could be 6 years from the prior ATH at ~300-500K).

[AlcoHoDL]

Wow, what a GREEN candle, the size of which almost matches Bob's instrument of pleasure (or pain...)

What's the occasion? Did someone die?

[BobLawblaw]

[Biodom]

Wow, what a GREEN candle, the size of which almost matches Bob's instrument of pleasure (or pain...)

What's the occasion? Did someone die?

au contraire, something 'dead' apparently came to life.
..."stupid" financiers throwing "good money" at something-something that is 3X in 8-9 days....ridiculous, but irrelevant. This one will pass.
Bitcoin had to follow with a "green dildo" of it's own or risk diverting trader's attention.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

got pretty close to 32k.

maybe some time tonight.

[AlcoHoDL]

Damn. From green candle to bloody dildo. The balls are formed as we speak. Looks like I jinxed it.

Never mind, it will go up again.

$32k tonight, as Phil says.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Damn. From green candle to bloody dildo. The balls are formed as we speak. Looks like I jinxed it.

Never mind, it will go up again.

$32k tonight, as Phil says.

I am taking off today. Going to play with the wife today. Maybe go to six Flags Great adventure food fest.


https://www.facebook.com/groups/355769547865344/user/1072051426/

lots of food to eat should be fun.

Better than beating on buddy for not doing proper lifts.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[HI-TEC99]

Damn. From green candle to bloody dildo. The balls are formed as we speak. Looks like I jinxed it.

Never mind, it will go up again.

$32k tonight, as Phil says.

I am taking off today. Going to play with the wife today. Maybe go to six Flags Great adventure food fest.


https://www.facebook.com/groups/355769547865344/user/1072051426/

lots of food to eat should be fun.

Better than beating on buddy for not doing proper lifts.

You just missed the Waikiki SPAM JAM food festival in Honolulu.

https://www.facebook.com/WaikikiSpamJam/

You could have tried the spam, spam, spam, egg, rice, and spam.



The next one's almost a year away.

[Out of mind]

All of this happened in TWO weeks. BTCBTC
https://twitter.com/TheBTCTherapist/status/1674040230091935746?t=2W_xq2BWb69kPoG3A2Tk8g&s=19

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

I'm glad Litecoin has gained 16% over the past week. Such a great shitcoin.