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

[600watt]

a friend of mine needs cash to buy a decent mountainbike. i owe him one btc (from years ago). we decided to use his bitcoin that i kept safe for him for the bike. we met several times starting 6 weeks ago to find a way for him to cash out. he wants the bike really badly, but everytime we sit together he chickens out and suggests to wait a little longer. when btc went over $5k I went to him again, he suggested to wait "a little longer, maybe btc will rise higher". (he has no clue about crypto whatsoever)
when it went above $6k I really tried to convince him again. "dude, cash out, $6k is a very very good price" he replied we should wait some more "maybe it will rise to $7k or $8k?"   I felt sorry for his naiveness, told that this will not happen soon FOR SURE.

 

[vapourminer]

It's so nice to go out for a walk on a beautifully sunny Sunday morning, and to come back home and see that your BTC is worth more that you left it...

A two-hour walk earned me 4 months worth of salary money...

Go Bitcoin, go!

In my case, 1 day earned me 4 years salary 

i remember last run to 20k. due the exchange daily limits i could not shovel money out fast enough. and at that rate i would never be able to get all the money out as i always had more money in the exchange than the day before, even after pulling the max. because the next day, the btc i still had in there was worth more than what i pulled out, even though there was less btc there after selling some.

i remember being pissed.

then i realized if that was my biggest problem... well.. i couldnt help but laugh. really put things in perspective.

[Last of the V8s]

[podyx]

1h with heiken ashi just to show that I am not a complete peasant...except on Tuesdays of course. Anyway..  #dyor

significant accumulation continues
img]https://i.imgur.com/NdpVTSb.jpg[/img]
#stronghands'19

LMAO

[VB1001]

https://www.uprr.com/newsinfo/graphics/media_kit/steam/4014/lustig_4014-18.jpg


https://www.railwayage.com/wp-content/uploads/2019/05/UP-Big-Boy-stats.jpg

Delivered   December 1941
First run   December 1941
Last run   July 21, 1959 (revenue)
Retired   December 7, 1961
Restored   May 1, 2019
Current owner   Union Pacific Railroad
Disposition   Operational, based in Cheyenne, Wyoming, at the steam shop

Performance:
Maximum speed   80 mph (130 km/h)
Power output   6,290 hp (4,690 kW)
Tractive effort   135,375 lbf (602.18 kN)

https://en.wikipedia.org/wiki/Union_Pacific_4014

@jojo69

You like big toys.

Out of curiosity, I've searched for information about the locomotive UP 4014 (Union Pacific).
It's a monster, seeing it live has to be a spectacle.

[torrentco]

Only poor people earn their money with sweat blood and hard work. BTC will make you rich while you're chillin on a yacht with hot models...

It doesn't seem like you understand that bitcoin is not a resource, and that somewhere in the pipeline actual producers and resource owners have to be willing to give you their real stuff for your imaginary, valueless stuff.
Crypto-scammers like Mike Novogratz and Tim Draper who simply want to attempt to flip digital shitcoins like real estate for profit and not actually hold them would be required to want to hold their entire fortune locked in valueless, imaginary shitcoins or it all implodes.  That's really the only thing that has kept it from imploding so far, the equivalent of various real estate flippers temporarily holding the float in hopes they can dump their non-resource on some other fool for profit.

Sold 700$ and lower yet where again @ X 10+ at this moment

Solid moves you make there

Good morning r0ach and don’t forget buy silver at the low.

this roach guy must be the saddest person on this forum seriously.
he must have sold at 500$ or even lower to accumulate more but couldnt get in again.
i wonder how he was feelin when it hit 20k.or yet how he will feel when it hits 40k. (which is inevitable)

really feelin sorry for him.there r hundreds of thousands like him;just waitng to get in if bitcoin ever hits 1k
the saddest part is they will wait for 500$ even if hits 1k means they can never get in.

[kenzawak]

https://twitter.com/CryptoHayes/status/1127482437490106369

[kenzawak]

As Bitcoin Price Keeps Surging, We Examine Potential Catalysts

https://www.cryptoglobe.com/latest/2019/05/as-bitcoin-price-keeps-surging-we-examine-potential-catalysts/

"-Improving technicals, such as last month's double break out of Bitcoin price upon the "Golden Cross"

-Traders exiting their Tether (USDT) positions and getting into Bitcoin and the major altcoins, especially the office of the New York Attorney General (NYAG) announced that it was investigating Bitfinex and Tether (and the resulting revelation that Tether was only 74% backed by cash and cash equivalents).

-Tether (USDT) managing to maintain its peg to the dollar despite all the drama surrounding Bifinex and Tether (unlike what happened in October 2018, when USDT fell to as low as $0.86).

-The countdown to Bitcoin's next block reward halving event, which is estimated to take place on 23 May 2020.
Bloomberg reporting on May 6 that Fidelity Investments "will buy and sell the world’s most popular digital asset for institutional customers within a few weeks."

-Reports that came out towards the end of last month about two of the biggest brokerages in the U.S., E*Trade Financial and TD Ameritrade, preparing to launch Bitcoin trading on their platforms

-The Wall Street Journal's article (published on May 2) about Facebook's crypto-based payments system.

-Diar Research reporting on May 6 that the "number of transactions on-chain is also just shy of the all-time-high of December 2017."

-The realization by many that "we must be in a bull market" after the attack on Binance on May 7 since it seemingly had no negative impact on the price of Bitcoin.

-U.S. Congressman Bradley Sherman (D-CA) asking his colleagues to introduce "a bill to outlaw cryptocurrency purchases by Americans" being taken as a bullish sign by many fans of crypto, such as Anthony Pompliano (aka "Pomp), who said on May 10 that Congressman Sherman's remarks only served as an ad for crypto and helped to confirm its validity.

-New York City Blockchain Week.

-The Fear of Missing Out (FOMO). "

[AlcoHoDL]

this roach guy must be the saddest person on this forum seriously.
he must have sold at 500$ or even lower to accumulate more but couldnt get in again.
i wonder how he was feelin when it hit 20k.or yet how he will feel when it hits 40k. (which is inevitable)

really feelin sorry for him.there r hundreds of thousands like him;just waitng to get in if bitcoin ever hits 1k
the saddest part is they will wait for 500$ even if hits 1k means they can never get in.

The saddest part is, he could have simply used BTC to buy gold or silver if he wanted to. If he had taken advantage of the 2016-17 pumps, he would have ended up with so much gold/silver! That's the reason I suspect there must be a problem in the wiring of his brain... It's not sadness, it's stupidity...

[HairyMaclairy]

Choppy waters ahead.

Batten down the hatches.

Seems to be a pattern to pull back 12 hours into the daily candle and then start punching it again toward the candle close, with momentum carrying onto the new daily candle.  Let’s see if the pattern holds again today.

[Woodie]

As Bitcoin Price Keeps Surging, We Examine Potential Catalysts

-snip-

Is it just me or there is more influence coming from the U.S of A based on the potential catalysts ...

And what's happening with the Asian influence on crypto because once upon a time these where major drivers of crypto.

This race will be important:

- Weak Hands that have sold
- Those who sold in ATH
- Those who bought in ATH
- Institutional money

Everyone will buy BTC again, the result, some holdlers more and the price of BTC to the moon.

The upcoming bitcoin halving, the race to buy btc is on because before you know it the market will be crypto starved! Come on BUY, BUY!!

[Dakustaking76]

Nooooooo my love dont go down

Up is the wayyyyyyy

[FractalUniverse]

That's the reason I suspect there must be a problem in the wiring of his brain... It's not sadness, it's stupidity...

he is not stupid, just stubborn. It may take few more years before he gets back into bitcoin again  

[serveria.com]

this roach guy must be the saddest person on this forum seriously.
he must have sold at 500$ or even lower to accumulate more but couldnt get in again.
i wonder how he was feelin when it hit 20k.or yet how he will feel when it hits 40k. (which is inevitable)

really feelin sorry for him.there r hundreds of thousands like him;just waitng to get in if bitcoin ever hits 1k
the saddest part is they will wait for 500$ even if hits 1k means they can never get in.

The saddest part is, he could have simply used BTC to buy gold or silver if he wanted to. If he had taken advantage of the 2016-17 pumps, he would have ended up with so much gold/silver! That's the reason I suspect there must be a problem in the wiring of his brain... It's not sadness, it's stupidity...

That makes me think he has NOTHING! He probably had some gold/silver and also some bitcoin but lost it due to poor management, poor trading skills and lack of business insight.

[encycrypto]

https://twitter.com/CryptoHayes/status/1127482437490106369

Now that's a good indicator, kinda rules out tether fud.

I think Bitmex only trades derivatives, so it can't be considered as the real trading volume.

[HairyMaclairy]

Nah they don’t trade fiat or Bitcoin.  It’s all bets on XBT which is their paper bitcoin tied to the bitcoin price by a complicated formula

[HairyMaclairy]

Hahaha that’s about correct.

They make it really easy to use leverage on longing or shorting so that makes it appealing.  But it is a home of deep fuckery and the volume and order books are completely fake and their in-house trading team is front running trades.  Hard work to consistently make a profit there.  

[encycrypto]

https://twitter.com/CryptoHayes/status/1127482437490106369

Now that's a good indicator, kinda rules out tether fud.

I think Bitmex only trades derivatives, so it can't be considered as the real trading volume.

shit I thought bitmex did true fiat trading. I never have used bitmex and never have given it much attention.

There are only two big players in crypto: BitFinex/Tether and Binance. Both are currently facing problems. Let's hope that things are getting better behind the scenes with these two.  

Bitmex and others don't even come close.

[Gyrsur]

Nooooooo my love dont go down

Up is the wayyyyyyy

the FIAT is emptied on the exchanges because of the weekend. all Buyers need more FIAT which will flood in at the earliest on Monday and the Sellers want to withdraw the FIAT or transfer it to other exchanges.

[d_eddie]

Do time and day of this bull run tell us anything about the most likely immediate cause?

It looks like the price has been drifting up slowing until it hit 6k, which then moved into a feedback loop of short position liquidation and day trader FOMO. At some point all the short sellers will be dead and then the FOMO will flip.

Without paying a lot of attention, to me it seems the price drifts and then rallies strongly before the candle closes which is consistent with US evening trading.  

Combined with Coinbase price leadership, makes me think this is a US retail led rally.  Genuine organic demand.

That's the kind of answer I was looking for. But isn't it weird on a weekend?