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

[Agbe]

Sunday musings...

Most people right now:
they don't believe in bitcoin
Well, more for me, then

#haiku

It does seem like the market is getting a little exhausted. I think the folks who got in at the bottom have likely all sold now. I’m not sure where the increased selling is coming from that’s holding the price down still. I’m not sure how much longer this will continue, but I definitely don’t expect it to remain a trend after April of next year due to the halving.

Exactly, Probably as the price gone to $31k in this year after April, many sold theirs to settle some debt. As you said, the increase is coming from the folks who bought when the price was $16k last year and this an opportunity for them to sell. Biodom said, many people have sold their bitcoin and many people bought them back so there are people believing bitcoin always. Happy Sunday to all Bitcointalkers.

[JayJuanGee]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

One of the main problems with all ETFs is that any centralized organization requires trust. In fact, they can endlessly issue their ersatz bitcoins if they manage to resolve the issue with the regulatory authorities. So we can only hope they don't issue much more. 21 million real bitcoins and an infinite number of centralized ersatz bitcoins. And the problem is that for average Joe, there is no difference between real bitcoins and their centralized replacement. Even if we understand the difference, it's really important to us that average Joe doesn't get fooled either. Bitcoin is either for everyone, or it will not be able to fully work for a small group of people who understand.

This is exactly what I think about ETFs. Anyone can get that after settling with the regulatory authorities. The effect on the long run will be a shift from decentralisation to centralisation.  

Fine, the ETF will increase the penetration of Bitcoin and bring institutional investment which is good for Bitcoin. But control might creep in and that will defeat the very essence of this amazing technology.

The ETF owners might think that they are smarter than they are able to be in regards to their thinking that they might be able to control aspects of BTC, which might end up being a BIG lesson for them - but in the meantime, there could end up being a lot of confusion in terms of people who put their money with the various ETFs and come to the false conclusions that they own the bitcoin, when the ETF owner actually owns the bitcoin, so there may well be some folks (including governments, institutions and rich people) who become educated in regards to the benefits of figuring out ways to get exposure to BTC prices through holding their own BTC rather than giving money to other entities who may or may not be ready, willing and/or able to act in their interest...

...and perhaps some of the rules of custody could end up getting changed because of the various contractual relations that ETFs enter with their clients/and governments, and I would imagine that rich people, institutions and governments do not appreciate when the end up getting rug pulled... just like individual normies do not appreciate getting rug pulled.. but bitcoin gives them a vehicle to hold their own keys. .and perhaps they are in charge of their own rug pulls of themselves rather than trusting third parties that might not be as trustworthy as they appear to be on the surface.

What are you choosing?
100 Bitcoin 
or
$10Million 💵

Source

This math is easy. Currently, 100 BTC is worth $2.9 Million.

I will take $10 Million and buy 300 BTC with $9.7 Million.
 

Oh gawd....  

do you even know how to read?

Look at the hypothetical.

If you choose dollars, then you cannot buy bitcoin again..

so don't be trying to weasel out of the hypothetical...or the spirit of the hypothetical.. 

..which is that you have to choose one of them and you have to live with the consequences... yeah, I can see some circumstances in which you might end up choosing dollars rather than bitcoin and that is if you are going to die in 3-5 years, then maybe the choice is easy.. take the $10 million and spend it or whatever..

...but the whatever is not so broad that you can buy something that relates to bitcoin in order that you can get bitcoin exposure.. you are stuck with fiat related products.... spend it to consume or perhaps spend it on some fiat related products.. maybe property that is not bitcoin related.

Try again.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Sunday musings...

Most people right now:
they don't believe in bitcoin
Well, more for me, then
#haiku

It does seem like the market is getting a little exhausted. I think the folks who got in at the bottom have likely all sold now. I’m not sure where the increased selling is coming from that’s holding the price down still. I’m not sure how much longer this will continue, but I definitely don’t expect it to remain a trend after April of next year due to the halving.

That would be a long time to stay in the "don't wake me up" zone of perhaps $25k to $35k.... which more specifically would be an additional 8 months... and we have already been here nearly 5 months,. .. I am not buying it.  13 months?  Not buying it.  Not buying it.

In udder wurdz, the odds don't seem to be very strong for such a scenario of continuing to stay in this "don't wake me up" zone for a total of 13-ish months... what are we going to say?  less than 15% odds for such a scenario to play out? 

in udder wurdz, why give such a minority scenario so much attention?


Maybe I got those odds wrong?  Perhaps?  Almost anything is possible.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitebits]

[...]
Almost anything is possible.

These cheap corns can't last, page parity soon. This close to the halving buying dollars is picking up pennies in front of a steam roller, why would this time be any different? Guess each cycle people have to learn the hard way.

[Odohu]

Sunday musings...

Most people right now:
they don't believe in bitcoin
Well, more for me, then

#haiku

It does seem like the market is getting a little exhausted. I think the folks who got in at the bottom have likely all sold now. I’m not sure where the increased selling is coming from that’s holding the price down still. I’m not sure how much longer this will continue, but I definitely don’t expect it to remain a trend after April of next year due to the halving.

The selling is coming from people who bought around $16k and around $24700 and have waited so long for a breakout that is not coming as expected. Bitcoin took some lows(liquidity) around $24700 and by expectations from technical stand point, that was enough fuel to see Bicoin hit the $36k region. But as that have not happened and Bitcoin continues to compress in the ascending triangle, some people are giving it a second thought that maybe, there will be another appreciable down move before the much expected bull run.

While there is sense in this, there are chances that it may not happen that way. It is possible the present reluctance for expansion might just be a way to test the patience of holders and wear the weak hands out.

In my opinion, I don't expected any deep drop in price anymore. That era is gone and soon volume will begin to increase as well as the price.

[machasm]

And you want to buy their Bitcoin ETF!.... Think again! #NYKNYB

Dude...nobody here will ever buy a spot ETF but millions of investors would love using it without having to worry about self custody or figuring out how to use an exchange. That's the whole meaning of it about spot ETF's.

One of the main problems with all ETFs is that any centralized organization requires trust. In fact, they can endlessly issue their ersatz bitcoins if they manage to resolve the issue with the regulatory authorities. So we can only hope they don't issue much more. 21 million real bitcoins and an infinite number of centralized ersatz bitcoins. And the problem is that for average Joe, there is no difference between real bitcoins and their centralized replacement. Even if we understand the difference, it's really important to us that average Joe doesn't get fooled either. Bitcoin is either for everyone, or it will not be able to fully work for a small group of people who understand.

Except with bitcoin they would find it hard to issue fake tokens without backing with real BTC as it will all be visible to everyone because of the blockchain. Unlike everything else, btc is easily auditable.
This might be the only way that large scale institutional money can get access to BTC legally and stay compliant.
Also I believe that this will further increase the publics awareness of bitcoin which will have a positive effect too.
Yes I acknowledge that these institutes may end up owning a disproportionately large amount of bitcoin and would be subject to GOVs heavy handedness if they so choose to do so. The only way they can get their hands it though is through sellers selling it.
What I mean by that is if the sellers refuse to sell then BR and the like will not be able to accumulate what they want. Something tells me though that most will sell some/all at some price or another.
As long as the majority of people continue to do trade using FIAT then people will always sell their BTC at some price point. The key is to stop using FIAT altogether and trade using BTC. That is when Hyperbitcoinisation happens.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Explanation
Chartbuddy thanks talkimg.com

Buddy holds us flat
I know to stack more and more.
but do you stack more?

[Volgastallion]

Gradually, then suddenly. #Bitcoin


Source.

Pure bullshit, in this time more people are stupid who lives on crypto trapped on exchange and centralized coins, making arbitrations and some other financial things, but no one, only a few cares really about Bitcoin, that its the reality no matter what you say, and that its a big problem we have, we need to more people learn about BTC and not about crypto.

[eXPHorizon]

Want more ppls in Bljatcoin ? I am Sherlock Holmes and i can make anyone dance ☺️

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Out of mind]

Whales with #bitcoin influence/affect the price..
Yes, but the estimates in this regard are oversized, in the video I tell you how the pulse between retailers and whales is going
One piece of information, addresses with less than 1 $BTC to
_Source

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

I hate you buddy fuck off with those 29k numbers

[hafiztalha]

Source

[wavessurfing]

source?

[BitcoinBunny]

BRK/A is completely fkn SUS at this point.

One has to wonder, in a world with massive ongoing inflation, bank and corporate bankruptcies, cratering corporate revenues, and massive layoffs, how a company like BRK/A can literally DOUBLE their stock price since the pandemic started.

And up 5X in just a decade.

I smell shite.

Only in a world that is accelerating into a lowkey kind of hyperinflation could they do that.

I mean...just look at that ridiculous hockey stick chart.

The only association I have with BRK is that I now absolutely avoid buying Heinz ketchup. BRK own Heinz for a large part.

The prices have gone insane over the last few years. A bottle costs 4 times as much as store brands which are just as good since it contains simple ingredients.

Beans in tomato sauce and their mayo have gone the same way cost wise.


What's weird is these companies can still exist in this inflationary climate, and they always have a multi billionaire at their helm.
I can't be the only one avoiding buying these overpriced branded products now.

I remember when BRK bought a large stake in Kraft Heinz, the first thing that happened for customers is that McDonald's dropped using Heinz tomato ketchup.
Has anybody noticed or cared?

No. Yet share prices still rocketed for these strange outfits like you said.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com