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

[d_eddie]

Yep we're going down. 7750 as I write.

[UnDerDoG81]

7600

[AlexGR]

It seems the rally is petering out. Bitcoin never fails to surprise but momentum for this run is diminishing.

I think those behind the "big moves" don't want to be very predictable, since they want to avoid front-running purchases by others. If you can predict the moves of the market you can front-run it with leverage and gain big. But that would elevate the big buyers average cost per btc and it's obviously something they do not want. I wouldn't be surprised if the large players cause spikes down/up to liquidate shorts and longs that try to get ahead of the trends.

I wouldn't be surprised either at transferring altcoin money to bitcoin through trend-creations which act as a hook for potential altcoin buyers/traders, which makes people buy altcoins during some rising trends and then dumping on them to get their bitcoins. This mechanism would be something like a secondary source for bitcoins that allows more bitcoins to be acquired without making the btc/usd go through the roof - since bitcoins are taken from btc/altcoin pairs. The side effect is obviously the ascent of bitcoin dominance.

[Raja_MBZ]

Bitcoin Price Hits All-Time Highs in These Countries, Thanks to Crippling Fiat Currencies

https://www.ccn.com/bitcoin-price-rockets-all-time-highs-countries-crippling-fiat

While most traders are focused on bitcoin’s price in dollars, the recent surge has propelled bitcoin to all-time highs in Argentina and Sudan’s local currencies.

[LFC_Bitcoin]

7600

Seemed to bounce off strong support in the high $7500’s.

[d_eddie]

yes ~7.7k now

[_javier_]

Bitcoin Price Hits All-Time Highs in These Countries, Thanks to Crippling Fiat Currencies

https://www.ccn.com/bitcoin-price-rockets-all-time-highs-countries-crippling-fiat

While most traders are focused on bitcoin’s price in dollars, the recent surge has propelled bitcoin to all-time highs in Argentina and Sudan’s local currencies.

hey, greetings from Buenos Aires, Argentina!

let me tell you.. dunno who is buying BTC as that localbitcoin chart shows.. Maybe some investors, but definatly not the regular people.

With our high inflation rates, people is concerned about reaching the end of the month.. buying food and paying bills. That if you are not fired and jobless, as our economy is shrinking.
Most of our population is poor, and they dont care about BTC.

I would love to see mass adoption here, but its not happening now.

[Last of the V8s]

Bitcoin Price Hits All-Time Highs in These Countries, Thanks to Crippling Fiat Currencies

https://www.ccn.com/bitcoin-price-rockets-all-time-highs-countries-crippling-fiat

While most traders are focused on bitcoin’s price in dollars, the recent surge has propelled bitcoin to all-time highs in Argentina and Sudan’s local currencies.

hey, greetings from Buenos Aires, Argentina!

let me tell you.. dunno who is buying BTC as that localbitcoin chart shows.. Maybe some investors, but definatly not the regular people.

With our high inflation rates, people is concerned about reaching the end of the month.. buying food and paying bills. That if you are not fired and jobless, as our economy is shrinking.
Most of our population is poor, and they dont care about BTC.

I would love to see mass adoption here, but its not happening now.

sounds like England tbh. or anywhere

[LFC_Bitcoin]

Lots of selling & people trying to send the price into the 7500’s or lower.

Bitcoin community & traders -

[El duderino_]

Yep we're going down. 7750 as I write.

Yeah we're going UP. 7771 as I write

[MrFreeRoMan]

Lots of selling & people trying to send the price into the 7500’s or lower.

Bitcoin community & traders -

So someone knows that tomorrow VanEck ETF denial or delay


The upcoming VanEck ETF decision could certainly have a serious impact on $BTC price

Denial = Pull back the current price regardless of how good it looked this wknd

Approval =push the price to new yearly high & create mass FOMO buying

Delay = Expected & likely little change
https://twitter.com/Josh_Rager/status/1130326881859964928?ref_src=twsrc%5Etfw

PS:
and perhaps this growth was on expectations, tomorrow we will see

[Last of the V8s]

[rbynxx]

So someone knows that tomorrow VanEck ETF denial or delay


The upcoming VanEck ETF decision could certainly have a serious impact on $BTC price

Denial = Pull back the current price regardless of how good it looked this wknd

Approval =push the price to new yearly high & create mass FOMO buying

Delay = Expected & likely little change
https://twitter.com/Josh_Rager/status/1130326881859964928?ref_src=twsrc%5Etfw

Let's see how will it take effect, I fairly see and say we will have another delay and whow knows it will not be an ETF anymore rather ETD.

[PaivanTreidi]

Lots of selling & people trying to send the price into the 7500’s or lower.

Bitcoin community & traders -

So someone knows that tomorrow VanEck ETF denial or delay


The upcoming VanEck ETF decision could certainly have a serious impact on $BTC price

Denial = Pull back the current price regardless of how good it looked this wknd

Approval =push the price to new yearly high & create mass FOMO buying

Delay = Expected & likely little change
https://twitter.com/Josh_Rager/status/1130326881859964928?ref_src=twsrc%5Etfw

It is interesting that this ETF thing is so important. This side of the pond I could have invested in crypto ETFs for years now... Nothing new...

[LFC_Bitcoin]

Lots of selling & people trying to send the price into the 7500’s or lower.

Bitcoin community & traders -

So someone knows that tomorrow VanEck ETF denial or delay


The upcoming VanEck ETF decision could certainly have a serious impact on $BTC price

Denial = Pull back the current price regardless of how good it looked this wknd

Approval =push the price to new yearly high & create mass FOMO buying

Delay = Expected & likely little change
https://twitter.com/Josh_Rager/status/1130326881859964928?ref_src=twsrc%5Etfw

I dunno!

It feels like we’ve had about 10 delays/denials for bitcoin ETF’s now. The market absorbs the news & nobody seems to give a crap any more.

[JSRAW]

The walls at $700 are looking to be under siege soon.  

@Toxic I found your competitor on chart thingy this Tanner dude loves to play with chart just like you. any of you guys remember him, just wondering if he's still around.

Old posts are gold

[rjclarke2000]

Lovin the hat.

Thanks!

[bitcoinPsycho]

Lovin the hat.

Thanks!

Yes yes . Get in

[El duderino_]

JP Morgan is now putting out reports about “Bitcoin’s intrinsic value.”

Thought it was worthless and had no value according to Jamie Dimon??

Never listen to what a bank says.

Watch what they do.

https://twitter.com/apompliano/status/1130444930885783553?s=21

[d_eddie]

It is interesting that this ETF thing is so important. This side of the pond I could have invested in crypto ETFs for years now... Nothing new...

AFAIK, Crypto ETFs are baskets of shares of selected crypto companies. I think a cryptocurrency ETF exists already, but it includes ETH and other shitcoins. The ETFs under SEC scrutiny would include btc only. What's more, some of them are designed for settlement in kind, not in cash (that is, bitcoin - not USD). The importance or usefulness of such a financial instrument is debatable, but it can't be dismissed as "nothing new".

Where's the novelty? Everyone would be able to buy (paper) btc through their stock market broker, without having an account at an exchange. Besides, if the settlement is really in kind, the ETF issuer would have to hold/buy/sell matching amounts of the underlying asset (btc) or bear the risk when the ETF holder asks for payment. That is, if fuckery can be ruled out. Which is a big IF.