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

[Robin,Hood]

Good morning Bitcoinland.

I see we hit a new low for the year this morning and are bouncing back... currently $6245USD/$8295CAD (Bitcoinaverage).

Even when we were at the bottom we were ahead of where we were in November. How soon we seem to forget.

I hope everybody bought lots of coins. I'm just glad I didn't have to sell any.

That's the trouble with being retired living off your Bitcoin holdings. Every now and then you have to spend some to buy fiat currency.

gotta hate those moments on times like these

The odd trade helps to move it along until next halving but missed it by a few dollars so had to sit it out.
Double wammy. Knowing but then fail to execute. It sucks alright, but at the same time can't complain to much about the forced early retirement.

[Ibian]

Balls. I wanted the price a few hundred lower, not higher.

[yefi]

You see the use of the word 'World' in this instance means literally EVERY contry in the world can enter their national team in it.  Unlike in America where the use of the word 'world' in sport (e.g. the baseball World Series) can mean only teams based in America normally take part.

It's a great little trick to be the best nation at a sport though, you have to hand it to them.

[wayna]

Looking at charts it seems a classic bull trap.

True that the price couldn't drop too much on Sunday!

[STT]

So its a dramatic breakdown from the point we hoped would be bullish.    I guess it was a significant point to watch, trigger from to a few different packs of people trading round the world

The price now is just generally on weekly bars, the novemeber low and october highs so justified again as significant.  I think the situation again needs to develop to be sure what way it'll go but standard view would to see it as support and building from there.

[LFC_Bitcoin]

Looking at charts it seems a classic bull trap.

True that the price couldn't drop too much on Sunday!

The price regularly nosedives on a weekend dumb noob

Doesn't make any sense to sell now even if its headed to sub $4k.

I don't totally agree with this, obviously.
But good luck.

Funny story. I was mumbling to Rick just earlier today about "Well, if we're in a fucking bear market, maybe I should sell some Corn and re-buy when it goes lower."

Price was dropping down to $5,800 when I grumbled that.

Rick's all like "Fuck that man. You're retired. Your stack is too high. Don't risk it."

I shit you not.

30 minutes later, big-ass spike back above $6k.

You can all thank Rick for me not doing something stupid, like taking a dump, I guess.

Thanks Rick

[jojo69]

Doesn't make any sense to sell now even if its headed to sub $4k.

I don't totally agree with this, obviously.
But good luck.

Funny story. I was mumbling to Rick just earlier today about "Well, if we're in a fucking bear market, maybe I should sell some Corn and re-buy when it goes lower."

Price was dropping down to $5,800 when I grumbled that.

Rick's all like "Fuck that man. You're retired. Your stack is too high. Don't risk it."

I shit you not.

30 minutes later, big-ass spike back above $6k.

You can all thank Rick for me not doing something stupid, like taking a dump, I guess.

always a fan of big dick ginger Rick

[starmman]

Doesn't make any sense to sell now even if its headed to sub $4k.

I don't totally agree with this, obviously.
But good luck.

Funny story. I was mumbling to Rick just earlier today about "Well, if we're in a fucking bear market, maybe I should sell some Corn and re-buy when it goes lower."

Price was dropping down to $5,800 when I grumbled that.

Rick's all like "Fuck that man. You're retired. Your stack is too high. Don't risk it."

I shit you not.

30 minutes later, big-ass spike back above $6k.

You can all thank Rick for me not doing something stupid, like taking a dump, I guess.

I'm HODLing and keeping my fingers crossed

[Ibian]

Doesn't make any sense to sell now even if its headed to sub $4k.

I don't totally agree with this, obviously.
But good luck.

Funny story. I was mumbling to Rick just earlier today about "Well, if we're in a fucking bear market, maybe I should sell some Corn and re-buy when it goes lower."

Price was dropping down to $5,800 when I grumbled that.

Rick's all like "Fuck that man. You're retired. Your stack is too high. Don't risk it."

I shit you not.

30 minutes later, big-ass spike back above $6k.

You can all thank Rick for me not doing something stupid, like taking a dump, I guess.

My personal goal is to get enough fiat to be set for life (at current valuation, at least) and then just let the rest ride. Billionaire or bum, I don't do anything halfway.

[mike4001]

Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...

OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.

But I believe that the point where mining costs are higher than the BTC value must be here (or nearly here)

[jojo69]

[Toxic2040]

Good afternoon all. I had some things come up today so no HNWI article as of now. Maybe later tonight I will get time to put down some more thoughts. I will leave you with the basic premise.

There are over 17 million HNWI's with combined assets totaling over 70 trillion. How many are invested in bitcoin? How much have they invested. How many more are interested in bitcoin but have yet to invest? How much of their assets would they be willing to risk in the nascent bitcoin industry? What could the bitcoin community do to attract such investors?

While many advocate a grass roots type of adoption, e.g. millions of small investors to drive the price upwards, it will most likely be HNWI's and institutional investors that lead the way towards new ATH's in the shorter time frame.

Something to think about.


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Bitcoin

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[ccminer.net]

Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...

OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.

But I believe that the point where mining costs are higher than the BTC value must be here (or nearly here)

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

[Ibian]

Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...

OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.

But I believe that the point where mining costs are higher than the BTC value must be here (or nearly here)

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

Oy mate, you saying socialism doesn't work?

[Anon136]

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

Venezuelans think bitcoin is in a bull market.

[Raja_MBZ]

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

Venezuelans think bitcoin is in a bull market.

Actually, for Venezuelans, bitcoin really is still in bull market. Their currency has declined faster than bitcoin if last 6 months of "bearish" trend of bitcoin are considered.

See this:



*looks pretty bullish, this is BTC to VEF*

[rolling]

Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...

OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.

But I believe that the point where mining costs are higher than the BTC value must be here (or nearly here)

I don't know where you are getting the ~24% projection but it isn't even close to accurate.

[eth9888]

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

Venezuelans think bitcoin is in a bull market.

Actually, for Venezuelans, bitcoin really is still in bull market. Their currency has declined faster than bitcoin if last 6 months of "bearish" trend of bitcoin are considered.

See this:



*looks pretty bullish, this is BTC to VEF*

lol yeh, as if it matters

[hodl_2015]

Holy Shit ... Bitcoin difficulty is projected to increase by ~24% in 6 days ...
OK, the culprit is the decrease of BCH because miners switched over to mine BTC instead.

So in 6 days these miners will switch back to BCH, and we will be stuck with a high difficulty for how many blocks?

[cAPSLOCK]

Depends on which country you are based, sure is that in a while just in Venezuela they will be able to mine with no loss if we go ahead like this

Venezuelans think bitcoin is in a bull market.

Actually, for Venezuelans, bitcoin really is still in bull market. Their currency has declined faster than bitcoin if last 6 months of "bearish" trend of bitcoin are considered.

See this:



*looks pretty bullish, this is BTC to VEF*

lol yeh, as if it matters

It is one of the fundamental things that matters the most.  Bitcoin is not going to displace the worlds reserve currency, or even make a dent in it before it has taken out low hanging fruit like the Bolivar.

Venezuela is one of the places hyperbitcoinization happens first.   

You'll see.