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

[RejectedBanana]

Prepare to recycle the $9000 memes.

[STT]

Something is wrong. This glade is alot shorter than predicted.

Are we back on track? Odds 7200 was the post glade bottom: 3/51

This is very bullish action, Bitcoin always surprises me how rapid it recovers when it does.   My target upside is very real to coming round so I will judge by the reaction at that point, 9174 is roughly it though its also varying by time as its an uptrend not a fixed ceiling.  
I expect some kind of ceiling creep around there as its many months we have been rising at this rate (though with much volatility obviously) it will be on many traders radar by now.

[Raja_MBZ]

Crypto looking strong:

1) G20 announces no call for regulation for crypto.

2) US Congress released an extraordinary report praising blockchain.

3) Tether seems to be actually backed by USD.

Moreover, right now:

1) Tethers being printed in a whole lot.

2) Bitcoin futures going long.

3) Chart's looking like it has created some "M" design, that means Majin Vegeta coming up soon.

Who'd like to keep fiat right now when there's crypto with this much good news around?

[bitcoinPsycho]

bollocks the positivity chart is broken.must get it repaired asap

fixed

[Sitarow]

Cointelegraph recently posted an article estimating that most miners are barely breaking even at $8000. There's other news outlets running articles with the same mining's no longer profitable theme.

wait just a minute

The FUDsters have been in here claiming that BTC is going to fall to the cost of production, which they put around @1000.

Just which the hell is it?

I been pondering over how to go about this debated question. And I suppose the best way is to show that both numbers are off for the simple fact that they do not consider how long it takes to make that 1 BTC.

The fact that many don't understand what it takes to secure one bitcoin when statements like it costs fails to give the simple value at what interval is "ONE" bitcoin made.

I have put together a sheet that shows how much mining power you would need to security one BTC a day and every 12 Days since difficulty is adjusting every 12-14 days on average.

To produce one bitcoin a day using the latest hardware from Bitmain would take an investment of $2,366,417.19 USD or about 250 BTC to secure a quantity of 1,020 S9 13.5 TH ASIC mining units. That equals a total hash rate of 13,770TH or 13.77 PH.

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

However those that do mine know that BTC at this price is a buy opportunity rather than investing in hardware.

Edit add link to document: https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit?usp=sharing

[Syke]

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

Yeah, I would not recommend mining if your power costs are $.10/kwh. A serious mine should be down in the $.04 range.

Over 9000!

[mike4001]

As you can see if you factor in just hardware loan repayment and power costs never mind any other type of costs and you run at a loss at $9500.00 - There are far better investments you can do than invest 2.3 million USD instead of hardware.

Yeah, I would not recommend mining if your power costs are $.10/kwh. A serious mine should be down in the $.04 range.

USD 9.015 at Bitcoinaverage.

Let's hope it holds (and rises)

[xhomerx10]

It'z over 9ooo!

Sorry no memes available

[bitserve]

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?

[Lopumbo]

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?

Front running by insiders by knowing that 300Mio$ Tethers will be printed - price increased - you can't explain that
300Mio$ Tether will be used to pump BTC to 11k$ - you can't explain that

 

[BlackSpidy]

Remember: Reduce, reuse, recycle.

Here's a video I made when we first breached $9000 https://www.youtube.com/watch?v=D-ZRcMy765E

[infofront]

[bitserve]

WHo knows, maybe there were a few whales looking to buy in the auction and, when they didn't win, decided to source them from elsewhere. Plausible?

Front running by insiders by knowing that 300Mio$ Tethers will be printed - price increased - you can't explain that
300Mio$ Tether will be used to pump BTC to 11k$ - you can't explain that

 

That too. PLus... assuming Teter was all legit (fully FIAT backed up) before needing to print an additional $300M they must have used (sold) as much Tether's were "refunded" and back to them during the downtrend. So it would not be just those new Tethers being reinserted into the market. More like "the tip of the iceberg".

[mike4001]

OK and back down again.

[greensheep]

Is it a coincidence that 9000 and 20000 are just about hitting it at the same time?  

edit: just as the elon rocket launch was at 05/02

nah

[ccminer.net]

and than back again  LOL

I really hope to see 30 000 soon folks do not call me FUDster

[infofront]

I was kind of hoping to see $3,000 soon.

[JayJuanGee]

I was kind of hoping to see $3,000 soon.

I believe that level of correction to $3k is not really necessary and could cause more bearish results than it actually refuels.. but bouncing off of $6k again might not be a bad thing -  or even $5k - but I understand that if we go below $6k, then certainly $3k becomes a much greater possibility.. even though $3k seems quite low from this place.

Anyhow, we gots to get our little selfies below $7k first.. and recently that has not happened yet....    

To quote an infamous variation:   "go real bitcoin go"

[Wekkel]

My Bitcoins are still worth what they were worth a small part of 2017. So no complaining here:

[BlackSpidy]

There's a difference between Being a FUDster and recognizing a downtrend. This year's gonna be bearish or flat. I doubt we'll see prices over $18K this year. I doubt we see prices below $5k this year, or ever again to be honest.