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

[JimboToronto]

Why the price is just bouncing back? If nothing has changed..... Very strange.... Super short bulltrap?

Don't you mean bear trap?

A bull trap is when the price unrealistically rises, trapping bulls who take it too seriously. A bear trap is the opposite... when bears get fooled into panic selling (mindrusting) because of an extreme dip.

[cygan]

[Gachapin]

Congratulations German goverment for dumping their bag at the top.

yeah the top of the last cycle. but not the top of this cycle

[Biodom]

Congratulations German goverment for dumping their bag at the top.

yeah the top of the last cycle. but not the top of this cycle

When was the last time a government sold something at the top?
That would be never, I surmise.

Look at Japan, though...it seems like they never truly believed in any recovery...lower than 1989 again, and by almost 20% at that.
Imagine US markets with SP500 at 4600 in the year 2059-that's what the equivalent would be.
A generation that saw no gains on the stock market.
I wonder who even invests in stocks in Japan..the "animal spirits" must be very low.

[OgNasty]

Volume spike hit this morning while I was sleeping. Looks like a good indicator of the bottom, at least for now. Congrats to those who scooped some coins up below $50K. I think looking back it will prove to be a good entry point for what is coming over the next 6-12 months.

[BitcoinBunny]

There is no top.

[LFC_Bitcoin]

   WHAT DIP?



   BTC BTC BTC BTC

[goldkingcoiner]

Congrats to those who scooped some coins up below $50K.

You don't need to congratulate me every dip. But thank you.

There is no top.

So nothing but bottoms?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

Congrats to those who scooped some coins up below $50K.

You don't need to congratulate me every dip. But thank you.

There is no top.

So nothing but bottoms?

I wouldn't mind hearing (or seeing) our official bunny's take on that.

[BitcoinBunny]

So nothing but bottoms?

Right.

[Biodom]

All this horse s-t talk about how FED does not want to "look panicked".
Objectively, they should cut the short term rates 2% to no more than 3.5% right now (based on where the 10-year Treasuries are), but, of course, they would be pussy-footing it for 6 mo.

[bitserve]

Fun ride. What now?

[Pandorak]

Congratulations German goverment for dumping their bag at the top.

Or congratulate them on the success of their planned plans, i mean, hey why is this happening not long after you guys sold your full bag? moreover, the decline that occurred was not as severe as when the German government carried out their selling action, was this really planned?

[bitserve]

Now that it seems we are getting back to "normal" there is something I would like to discuss... While most (almost all of it) of my Bitcoin is "physical", for tax reasons I do tend to do most of my BTFD using ETP/ETN's (AFAIK there is no ETF available yet in europe, please correct me if I am wrong) using the following "funds":

TRACKERS (ETFS)

ETC Group Physical Bitcoin
XET | BTCE | DE000A27Z304 | EUR

VanEck Bitcoin ETN
XET | VBTC | DE000A28M8D0 | EUR

CoinShares Physical Bitcoin
XET | BITC | GB00BLD4ZL17 | EUR

CoinShares Physical Bitcoin
TDG | BITC | GB00BLD4ZL17 | EUR

21Shares Bitcoin ETP
XET | 21XB | CH0454664001 | EUR

21Shares Short Bitcoin ETP
XET | 21XS | CH0514065058 | EUR

WisdomTree Bitcoin ETN
XET | WBIT | GB00BJYDH287 | EUR

Fidelity Physical Bitcoin ETP
XET | FBTC | XS2434891219 | EUR


At the moment I don't really have any criteria (apart from "diversifying"... in a totally random way) about which of them to buy each time. ie: sometimes a new one comes to life so I buy some of it, other times I add more of one or several of them, etc...

That is because two reasons:

1- In comparison to my physical holdings it is not that much money I am throwing at it (single digit percent at the most).

2- ... So I haven't really devoted much time to do a through comparison between them.

So... Here I am asking for the wisdom of the WO.... Do you euro guys have any preference or criteria about any of them? Have anyone taken the time to really compare them? Do you guys follow any diversifying strategy? What are your favorite picks, if any?

Again, I am doing this for tax reasons... the alternative, for me, would be not to buy anything anymore because I live in a country where FIFO is the only available option and, at current rate, I (hope) probably will never fully "cycle" all my corn... so this is my only way to do some reasonable "trading" with less tax impact (I can trade those separately of my "real" Bitcoin).

Also I do still buy some physical sometimes... but those go to the hodl "forever" wallet. So please don't try to "enlighten" me about the differences between physical and derivatives, because I know them well and it is the difference between each of those derivatives what I am really interested to know.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

Now that it seems we are getting back to "normal" there is something I would like to discuss... While most (almost all of it) of my Bitcoin is "physical", for tax reasons I do tend to do most of my BTFD using ETP/ETN's (AFAIK there is no ETF available yet in europe, please correct me if I am wrong) using the following "funds":

TRACKERS (ETFS)

ETC Group Physical Bitcoin
XET | BTCE | DE000A27Z304 | EUR

VanEck Bitcoin ETN
XET | VBTC | DE000A28M8D0 | EUR

CoinShares Physical Bitcoin
XET | BITC | GB00BLD4ZL17 | EUR

CoinShares Physical Bitcoin
TDG | BITC | GB00BLD4ZL17 | EUR

21Shares Bitcoin ETP
XET | 21XB | CH0454664001 | EUR

21Shares Short Bitcoin ETP
XET | 21XS | CH0514065058 | EUR

WisdomTree Bitcoin ETN
XET | WBIT | GB00BJYDH287 | EUR

Fidelity Physical Bitcoin ETP
XET | FBTC | XS2434891219 | EUR


At the moment I don't really have any criteria (apart from "diversifying"... in a totally random way) about which of them to buy each time. ie: sometimes a new one comes to life so I buy some of it, other times I add more of one or several of them, etc...

That is because two reasons:

1- In comparison to my physical holdings it is not that much money I am throwing at it (single digit percent at the most).

2- ... So I haven't really devoted much time to do a through comparison between them.

So... Here I am asking for the wisdom of the WO.... Do you euro guys have any preference or criteria about any of them? Have anyone taken the time to really compare them? Do you guys follow any diversifying strategy? What are your favorite picks, if any?

Again, I am doing this for tax reasons... the alternative, for me, would be not to buy anything anymore because I live in a country where FIFO is the only available option and, at current rate, I (hope) probably will never fully "cycle" all my corn... so this is my only way to do some reasonable "trading" with less tax impact (I can trade those separately of my "real" Bitcoin).

Also I do still buy some physical sometimes... but those go to the hodl "forever" wallet. So please don't try to "enlighten" me about the differences between physical and derivatives, because I know them well and it is the difference between each of those derivatives what I am really interested to know.

Just as a comment: IBIT and BTC are missing: IBIT is a fund from blackrock that got most of the flow and is most liquid, probably. BTC-is a new fund from Greyscale with lowest yearly fee (just 0.15%).

I am personally invested in a mix of IBIT and FBTC now (eventually, will trade some IBIT for BTC fund to make it 1:1:1).
Trading in those has nothing to do with regular bitcoin in a sense that FIFO would apply to each pile separately even though they are called "physical" bitcoin ETFs.
One great potential is that you don't need to wait 30 days after a loss trade to re-buy (which is a rule in US for taking losses) because you can always buy a similar fund.

[bitserve]

Just as a comment: IBIT and BTC are missing: IBIT is a fund from blackrock that got most of the flow and is most liquid, probably. BTC-is a new fund from Greyscale with lowest yearly fee (just 0.15%).

I am personally invested in a mix of IBIT and FBTC now (eventually, will trade some IBIT for BTC fund to make it 1:1:1).
Trading in those has nothing to do with regular bitcoin in a sense that FIFO would apply to each pile separately even though they are called "physical" bitcoin ETFs.
One great potential is that you don't need to wait 30 days after a loss trade to re-buy (which is a rule in US for taking losses) because you can always buy a similar fund.

Yeah, that is my reason for using those derivatives...

About the ones you are suggesting, I think those are not available in Europe... certainly not in DEGIRO which is the platform I am currently using... though I could use another one if those funds were available...

I have been able to easily find better comparisons about the US ETF's (which are NOT available here) than the EUR ones... Which I think are the only ones available to me, unfortunately.

[degxtra1]

Why the price is just bouncing back? If nothing has changed..... Very strange.... Super short bulltrap?

Bouncing back like nothing happened ….?? LoL

Shorts cashing out before it's too late?

asking same question. and all this cash to rebuy at one post earlier mentioned.
Life puts us sometimes in a front of serious and cruel dillemas..

[El duderino_]

Just bc it’s been a long time