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August 08, 2024, 08:22:59 PM *
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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (1.3%)
7/28 - 11 (13.9%)
8/4 - 16 (20.3%)
8/11 - 7 (8.9%)
8/18 - 5 (6.3%)
8/25 - 5 (6.3%)
After August - 34 (43%)
Total Voters: 79

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26432490 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Ambatman
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Today at 05:59:37 PM
Merited by LFC_Bitcoin (1), goldkingcoiner (1)

What a rally!!!
We almost having a comeback just a little push.
I'm already having a good feeling over next Week.

Bitcoin mining has been legalized in Russia, I believe this might serve as a precedence for other countries that had banned mining.
 https://bitcoinmagazine.com/business/putin-signs-law-legalizing-cryptocurrency-mining-in-russia

In another news
US policy group proposes Bitcoin tax-free zone for digital economy growth
https://cointelegraph.com/news/bitcoin-tax-free-zone-us-economic-dominance


And my favorite
Small holders of Bitcoin hit a new high despite the previous drop.
https://www.cointribune.com/en/bitcoin-addresses-of-small-holders-hit-new-highs-despite-drop/
ChartBuddy
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Today at 06:01:17 PM


Explanation
Chartbuddy thanks talkimg.com
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Today at 06:31:48 PM
Merited by fillippone (3), El duderino_ (1)

Good day for Bitcoin so far, currently sitting at $59,500. We’re $10,000 up from the bottom in that pretty shocking dump.

I’d like to think there’s no more FUD and real world events that crash the price coming up. I’m hoping we break $60,000 over the next few days and then it’s like the correction didn’t really happen.

Rate cutting cycle starting in September, hopefully Trump wins in November and then all bets are off, destination Valhalla.
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Today at 07:01:14 PM


Explanation
Chartbuddy thanks talkimg.com
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Today at 07:06:52 PM
Merited by vapourminer (1), OutOfMemory (1)

You are only travelling between realitys of the same dimension.
Put a layer of DMT into a doob of sweet skunk

Agreed, DMT is nothing like acid.



A different ball game
Three tokes into hyperspace
Changa for the win






#haiku
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Today at 07:48:17 PM

49.5k + 10k = 59.5k

 Grin

I mean a daily candle.. up.     we recently had one daily (almost) 10k down, aka a devils candle  Cheesy
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Today at 07:48:35 PM


But even the labor participation rate alone cannot be trusted anymore to tell the real story. Because losing a single white collar working making $100k+/year permanently, but replacing them with two full time (or worse, part time) blue collar workers @ $35k/year each is still major economic loss of purchasing power, even if the participation rate number increases. Not to mention the loss of income tax the IRS can collect.

Absolutely. There's an appropriate maxim (that doesn't spring to mind) about what you measure becomes the target. So buying dead rats encourages rat breeding, prioritizing crime statistics can lead to discouraging reporting crime and god only knows what the focus on GDP does. Always worth looking below the surface.

(Edit: Goodhart's law: "When a measure becomes a target, it ceases to be a good measure")



Same here, with one exception: drip coffee absolutely sucks, even with the best fresh ground beans and filtered water.

My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

Agreed. I have one (one of the 3 series, I believe) I treated myself to a year ago and it's fantastic. Great coffee and less waste and it will have paid for itself over the pods I was buying by 2025. The only negative is the cleaning regimen and it's not really that bad.
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Today at 07:56:10 PM
Merited by d_eddie (1), OutOfMemory (1)

I never 'use' anything...don't want to mess with my brain.
Maybe I am missing out, but it is what it is, sorry to be a bit squarish  Smiley.

[...]

I stand rapt in awe,
Of the wonders of the world,
Where drugs have no place!

#replyku1


Here is some speculation:

Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.

Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.

Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.

If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.

TL;DR just dubious speculation as B. Cowen calls it.

Half a mil. next year?
Who could disagree with that?
Will proudhon concur?

#replyku2
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Today at 08:01:14 PM


Explanation
Chartbuddy thanks talkimg.com
OutOfMemory
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Today at 08:02:53 PM
Last edit: Today at 08:22:14 PM by OutOfMemory



My weapon of choice is the Philips 4347/94 Espresso Machine. Designed by Italian engineers.

Makes amazing regular coffee.

Worth. Every. Single. Penny. Paid.

I used to use these too, and "designed by italian engineers" means Philips collaborated with Saeco and in turn took over their brewing unit.
The reason i went to DeLonghi, which do the same job in terms of making a good "everyday coffee" was that the Saeco brewing group was a real pain in the ass to clean. You have mold in places you can't really reach in no time, the coffee remains are spilled inside the whole thing, even worse there is a small valve designed to drain excess brewing water, which clogs easily and very often.
DeLonghi did a better job in their design. I can keep the brewing group unserviced for a couple of weeks (unthinkable with Saeco/Philips) and it takes me a single piece of cloth, a bit of hot water from the tap and a minute at most to thoroughly clean an be good to go.
My current DeLonghi machine is five years old, while every Philips/Saeco (2x) i had was beyond repair after three years. Last year i had to replace the brewing flask because of leakage due to the fact that i descale only every 2-3 months (using 50% lactic acid, just like the pros), also because we have very little calcium in our tap water.
The DeLonghi's weakness are the grinders. Either you have a good one that is relatively silent and will run for 10 years without problems, or you have a bad one which will give up within 1-2 years of use (6-8 preparations a day).

I don't want to talk you out of Philips, but keep DeLonghi as a alternative in mind if you can't stand the burden of regularly cleaning the Saeco "design".

You are only travelling between realitys of the same dimension.
Put a layer of DMT into a doob of sweet skunk

Agreed, DMT is nothing like acid.



A different ball game
Three tokes into hyperspace
Changa for the win

#haiku


Well, i will (try to) keep THAT as an alternative in my mind  Grin

I never 'use' anything...don't want to mess with my brain.
Maybe I am missing out, but it is what it is, sorry to be a bit squarish  Smiley.

[...]

I stand rapt in awe,
Of the wonders of the world,
Where drugs have no place!

#replyku1

True that. Drugs don't have a place everywhere. Most users forget that most drugs are just substitutes.

------------

OT:
One of my teen kids received his Autism Spectrum Disorder diagnosis today. He took it quite well, despite he had no idea why he had to do 6 hours in four sessions of psychological testing within the last couple of weeks.
The pychologist was exceptionally competent and sensible when she explained all this to him. Quite pricey, but worth every cent.
My son kept to often blame me as "mentally disabled", mostly when he was raging in one of those autistic breakdowns, but today he was showing so much remorse for this, and it not only just seemingly bonded the two of us together more. This and (almost) $60k made this day feel complete.
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