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

[Last of the V8s]

^Sunday evening sometimes for that kind of announcement.

Stamp is spot only and leading the dollar exchanges and futures.
Mrs Watanabe is also spot buying over there, and Mrs Korea.
This is just savvy retail buyers.

[Majormax]

Looking good.
At some point we will need a pullback. Would be nice to see 6k form strong support.

Great news then, but as always it would be wise to be looking ahead to the next stage.

This has now become an exponential rise. All exponential rises end in a big pullback... the only question is where is the top ?  A buyer here will inevitably be under water at some point, but it seems more likely that this is the first proper step in a bull market.

The real test is, when the sharp pullback comes, where does support come in ?  A bounce from anything over 6k will be positive (looking at a timeframe of some months)

[sirazimuth]

This is what organic growth looks like.  

yeah.... that's what my casino gambler buddy bitcoin financial adviser told me.

[Majormax]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

Yes but.... I would think institutional investors would go directly to the big hodlers (10.000-100.000BTC) to buy directly from them.... Not go and buy from exchanges in the middle of a fucking weekend to crazily pump the price.

Are big hodlers really going to sell now ?

edit : Maybe yes, if they want to increase their stash by trading. Selling an exponential rise is the only way to do that (and get back in when prices settle down)

[Last of the V8s]

Huge support for any pullback at 6400

[Lambie Slayer]

Another thought, maybe that Russian economist guy is right, Russia is buying all the coins it can get, and other govs and central banks have figured this out and they are buying coins to because they hate Russia so much they cant let them have all the coins.

I watched the Crypto movie today. It was just BS Russian hysteria, but it did seem to paint Bitcoin in somewhat of a positive light all in all which was a pleasant surprise. The writing is what made the movie so bad, the acting was decent to good.

[Toxic2040]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

I assume all major buyers at least have a little bit parked on their fave exchanges.

mah sep'um is vine..twust meh

[Lambie Slayer]

^Sunday evening sometimes for that kind of announcement.

Stamp is spot only and leading the dollar exchanges and futures.
Mrs Watanabe is also spot buying over there, and Mrs Korea.
This is just savvy retail buyers.

If so this will end well

[bitserve]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

Yes but.... I would think institutional investors would go directly to the big hodlers (10.000-100.000BTC) to buy directly from them.... Not go and buy from exchanges in the middle of a fucking weekend to crazily pump the price.

Are big hodlers really going to sell now ?

edit : Maybe yes, if they want to increase their stash by trading. Selling an exponential rise is the only way to do that (and get back in when prices settle down)

I am speculating that some of the HUGE holders could be interested in taking the opportunity to diversify part of their huge stash already. Maybe I am wrong.

[HairyMaclairy]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

Yes but.... I would think institutional investors would go directly to the big hodlers (10.000-100.000BTC) to buy directly from them.... Not go and buy from exchanges in the middle of a fucking weekend to crazily pump the price.

Maybe the big holders don’t want to sell

[Danslip]

7300$  Any predictions where the price will stop growing? Investors will fall to the FOMO soon.

[bitserve]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

Yes but.... I would think institutional investors would go directly to the big hodlers (10.000-100.000BTC) to buy directly from them.... Not go and buy from exchanges in the middle of a fucking weekend to crazily pump the price.

Maybe the big holders don’t want to sell

Yeah, it could also be a possibility that after months trying to negotiate with them with no success they had to resort to exchanges.... who knows...

Anyway.... this has been already one of the longer rallys with no significant correction. It's starting to get scary in the short term. Absolutely nice in the medium/long term.

[Last of the V8s]

Still waiting SEC - 16 may
VanEck SolidX Bitcoin Trust - 21 may

This might be your news Lambie
(thanks Roman!)
They usually announce the delay for these ETFs a few days early.
SEC insiders buying to dump tomorrow night...?

[HairyMaclairy]

7300$  Any predictions where the price will stop growing? Investors will fall to the FOMO soon.

No one knows.  Peter Brandt doesn’t. 

[HairyMaclairy]

Institutions prefer to buy direct from miners due to anti-money laundering / tainted coins concerns. A 10% premium for freshly minted coins is apparently not uncommon.

That limits the amount of coins available for sale to institutions

[Raja_MBZ]

bitcoin pumpin' hard
gembitz in weeeee disbelief
r0ach hatin' silver

[Majormax]

7300$   Any predictions where the price will stop growing? Investors will fall to the FOMO soon.

No, but a pullback to 6200 would be very likely in the medium term, in order to test support. That gives a 15% edge from here, to increase a traders stash.

Of course could go higher than $7300, but the low 6k's will need a test of some kind, sometime. A quick look at the chart shows how much work was done with 6k as a base.

This run is in a very short timeframe.

[spiderbrain]

But why would they go and buy from an exchange?

Something is cooking, for sure... but donno what.

Instant and guaranteed coins 24/7?

OTC won't exactly spring into action at midnight on a Saturday. They're all out ruining their septums.

Yes but.... I would think institutional investors would go directly to the big hodlers (10.000-100.000BTC) to buy directly from them.... Not go and buy from exchanges in the middle of a fucking weekend to crazily pump the price.

Maybe the big holders don’t want to sell

Big holders made plenty at the last peak, unless they are idiots. This is rising too fast, though, I doubt it will last. Maybe a cup and handle after a bounce off $20k?

[bitserve]

Institutions prefer to buy direct from miners due to anti-money laundering / tainted coins concerns. A 10% premium for freshly minted coins is apparently not uncommon.

That limits the amount of coins available for sale to institutions

That makes sense. A lot.

[Last of the V8s]

omfgwtaflolbbq!!!11